MIRA
INFORM REPORT
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Report Date : |
04.10.2007 |
IDENTIFICATION DETAILS
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Name : |
STAR IMPEX |
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Registered Office : |
8/9, Jeevan Polyclinic, Arun Bazar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Manufacturer of Embroidered Salwar Kameez Indian Kaftans, Indian
Sarees, Bridal Wear, Bridal Sarees, Fashion Accessories Bridal Jewelry,
Designer Kurtis, Fashion Bags |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. Management claims that the
business is on lower side. Payments are reported as slow and delayed. The concern can be considered for small to mediocre business dealing
with caution. |
LOCATIONS
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Registered Office : |
8/9, Jeevan Polyclinic,
Arun Bazar, |
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Tel. No.: |
91-22-28825689 |
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Mobile No.: |
91-9820208916 |
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Fax No.: |
91-22-28825689 |
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E-Mail : |
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Website : |
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Area : |
600 sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Ms. Amee Desai |
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Designation : |
Proprietor |
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Date of Birth/Age : |
37 years |
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Qualification : |
Post graduation |
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Experience : |
14 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Embroidered Salwar Kameez Indian Kaftans, Indian Sarees, Bridal Wear, Bridal Sarees, Fashion Accessories Bridal Jewelry, Designer Kurtis, Fashion Bags. |
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Exports : |
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Products : |
All products |
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Countries : |
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Imports : |
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Products : |
Pharmaceuticals ingredients |
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Countries : |
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Terms : |
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Selling : |
L/C, T/T |
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Purchasing : |
L/C, Cash, T/T |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
10 |
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Bankers : |
Union Bank of Address: Malad (West) Branch |
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Facilities : |
C/C – Rs. 1.000 millions |
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Banking
Relations : |
----- |
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Auditors : |
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Name : |
Lakhani Associates Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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4.000 |
3.500 |
Expected Sales (2007-08) : Rs. 5.000 millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
Based in
Vision
To offer outstanding products to their customers and adhere to timely delivery schedules. To produce highest quality products with unique and intricate designs to make new fashion statements.
Line Of Products
· Embroidered Salwar Kameez
· Indian Kaftans
· Indian Sarees
· Bridal Wear
· Bridal Sarees
· Fashion Accessories
· Bridal Jewelry
· Designer Kurtis
· Fashion Bags
Infrastructure
· They have a sound infrastructure well equipped with latest technology and sophisticated machines.
· Their workforce comprises of experts and talented designers.
· They have a strong production capacity and can manage orders in bulk.
· They have the ability to meet large orders with precision and timely deliveries.
Quality Assurance
· They assure high quality products at very competitive prices. Their core objective is to maximize their client's satisfaction by offering them high quality products.
· Their products are manufactured using sophisticated machinery and hence ensure proper dimensional stability, color fastness, shrinkage control and uniform dyeing.
· Each piece is subjected to strict quality control measures to ensure that only the best in terms of quality and design reaches the market. Above all, experts closely monitor the entire production process.
Client Base
They are a well-known entity in the industry with the support of a huge client base. They endeavor to understand the needs of their clients and cater to their exacting requirements. They nurture friendly and long lasting relations with their customers.
Why Them?
They follow strong business ethics and hence strive to give their clients best quality products. Some of the factors that has attributed to their immaculate success and makes them the most preferred business partners are:
· Quality products
· Competitive pricing
· Cost effective customization
· Timely delivery
· Customer focused approach
Collection
They
are a customer oriented company with prime objective of serving the customers
with best quality of products at the most affordable prices. Equipped with the
latest technology, they are capable of conceptualizing the ideas of their
clients.
They offer their customers exclusive range of designer salwar kameez that lends a graceful look to the wearer.
These designer salwar is one of the most comfortable all weather outfit and comes in countless design, material, size and colors. There are many different styles and patterns, materials, prints and methods, which are used with dexterity to carve out the most elegant piece of salwar kameez. They also provide their customer custom designing of the product exactly as per their requirement to give them unique identity.
They offer a unique range of handcrafted ladies top and kurti made from finest quality of fabric and stitched to perfection. Their ladies tops and kurtis are exquisite bend of modernity and traditionalism. These products are available are available in variety and designs as per the latest trend in the fashion.
Embroidered to enchant the eye, their designer saree is a magical combination of aesthetics and artistry. These traditional wear appears graceful, elegant and sensors. Their exceptional range sarees are available in variety of colors and designs.
They offer a fabulous range of bridal saree made from finest quality of fabric. These traditional outfits are worn on special occasion and are designed by the dexterous craftsmen to make you look different amidst all. Their range of sarees are available in wide array of colors and designs as per the specification of their clients.
They offer a luxurious range of kaftans with exquisite designing and beautiful embroidery. Beautiful kaftan designs, luxurious fabrics and attention to detail make their kaftans ideally suited for any occasion. These kaftans are specially tailored by expert craftsmen and are available in variety and color as per the requirement of the customers.
Avail from them captivating range of designer kids wear with traditional accent. These clothes are made from best quality of fabric and are dyed with natural colors. Keeping the need of modern kids in mind, they bring you some fabulous colorful sets of kids wear such as lehnaga chunari, designer wear and more.
They also offer an exclusive range of bridal jewelry, they are known for excellent craftsmanship, beautiful designs and styles. Their jewelery is available in variety of material and appealing designs. There are different treatments given to the jewelry like beaded, mirror worked and more to enhance the features, which makes them a piece of depicting style and a product of admiration.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.79 |
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1 |
Rs.81.23 |
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Euro |
1 |
Rs.56.41 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
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-DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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19 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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