MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AVIETTE EXPORT
PRIVATE LIMITED |
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Registered Office : |
B – 90,
Anandpuri, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.11.2002 |
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Com. Reg. No.: |
17-17941 |
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CIN No.: [Company
Identification No.] |
U51311RJ2002PTC017941 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRA02052B JPRA02326C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing of
Textile Items. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established small company having satisfactory track. Trade relations are
fair. Financial Position is mediocre. Payments are reported as correct and as
per commitments. The company can be
considered for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
B – 90,
Anandpuri, |
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Tel. No.: |
91 -141-2605000 /
2609495 |
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Fax No.: |
91-141 -2605000 /
2609495 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Mohan Singh
Gajawat |
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Designation : |
Director |
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Address : |
B – 90,
Anandpuri, |
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Date of Birth/Age : |
05.08.1933 |
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Date of Appointment : |
27.11.2002 |
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Name : |
Mr. Manoj Gajawat |
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Designation : |
Director |
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Address : |
B – 90,
Anandpuri, |
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Date of Birth/Age : |
15.05.1970 |
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Date of Appointment : |
14.05.2004 |
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Name : |
Mrs. Shanti
Gajawat |
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Designation : |
Director |
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Address : |
B – 90,
Anandpuri, |
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Date of Birth/Age : |
19.11.1972 |
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Date of Appointment : |
27.11.2002 |
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Date of Ceasing : |
15.05.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mohan Singh
Gajawat |
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5000 |
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Shanti Gajawat |
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5000 |
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Equity Share
Breakup |
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Percentage of Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Textile Items. |
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Exports : |
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Countries : |
Europe, US, |
GENERAL INFORMATION
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No. of Employees : |
12 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J. M. Saini &
Company Charted
Accountant |
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Address : |
43, Hemang
Vatika, Vrindavan Vihar, Kings Road, Nirman Nagar, Jaipur – 302019,
Rajasthan, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.370 |
0.250 |
0.152 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.470 |
0.350 |
0.252 |
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LOAN FUNDS |
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1] Secured Loans |
0.272 |
0.345 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.115 |
0.000 |
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TOTAL BORROWING |
0.272 |
0.460 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.002 |
0.013 |
0.004 |
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TOTAL |
0.744 |
0.823 |
0.256 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.660 |
0.630 |
0.148 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.256
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0.392 |
0.000 |
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Sundry Debtors |
1.536
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1.389 |
0.000 |
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Cash & Bank Balances |
0.034
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0.082 |
0.000 |
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Other Current Assets |
0.002
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0.002 |
1.057 |
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Loans & Advances |
0.597
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0.067 |
0.028 |
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Total Current Assets |
2.425
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1.932 |
1.085 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
2.238
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1.694 |
0.982 |
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Provisions |
0.105
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0.048 |
0.000 |
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Total Current Liabilities |
2.343
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1.742 |
0.982 |
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Net Current Assets |
0.082
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0.190 |
0.103 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.005 |
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TOTAL |
0.744 |
0.823 |
0.256 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
5.317 |
5.807 |
6.924 |
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Profit/(Loss) Before Tax |
0.213 |
0.155 |
0.174 |
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Provision for Taxation |
0.093 |
0.057 |
0.051 |
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Profit/(Loss) After Tax |
0.120 |
0.098 |
0.123 |
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Expenditures : |
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Depreciation & Amortization |
0.175 |
0.133 |
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Other Expenditure |
4.929 |
5.519 |
6.750 |
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Total Expenditure |
5.104 |
5.652 |
6.750 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.26
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1.69 |
1.78 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.01
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2.67 |
2.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.90
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6.05 |
14.11 |
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Return on Investment (ROI) (PBT/Networth) |
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0.45
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0.44 |
0.69 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.56
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6.29 |
3.90 |
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Current Ratio (Current Asset/Current Liability) |
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1.03
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1.11 |
1.11 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
- Furniture & Fixture
- Plant & machinery
- Building
- Computer Set
- Tata Indigo Car
AS PER WEBSITE:
Profile
Having experience in the field of
more than about 8 years, the company has not left any stone unturned and is now
confident to meet any requirements of valued customers from all around the
globe.
The company is manufacturing hand printed and hand crafted textile products, an
amalgamation of modern and ethnic very concepts of design in textile, using
various fabrics like Cotton, Silk, Polyester and Viscose.
Thanks to their own development section, they are able to introduce all times
new products in prints, hand embroidery, zari, zardosi, bead work, cutwork,
patchwork and also machine embroidery.
The company adheres to the strict quality checks at every stage to ensure the
best quality final products. Their craftsmen and quality controllers have the
required experience, expertise and an undying commitment to produce only the
best in the industry.
They produce as well small as large quantity orders with the same ease and
precisely according to the specifications. As the company is equipped with a
vast force of skilled and dedicated artisans and modern machines, they can
fulfill any size of orders in shortest possible time
Quality
Their focus on premium quality
products with the commitment towards complete customers satisfaction has earned
us a very distinct name amongst the international buyers.
Compulsory quality checks are instituted from conceptualization till the final
stage of product manufacturing, enabling us to keep their high standards.
Well-planned procedures ensure that production and delivery takes place always
as scheduled.
Subject offers the right value
for money to its customers in the form of high quality products, personalized
services and competitive prices. Because of their very extensive and well
performing quality processes, they are certificated with the International
Quality System Standard ISO 9001:2000.
The root level manufacturing company
of high quality Textile Home Furnishing
products managed by professional and experienced management. The company with a
difference, the only aim is not to earn profits but to help artisans of rural
A collection
of wide range of bedspreads such as Applique Bed spread, Embroidery bed
spreads, Hand Worked bed spread as well as Quilted bed spread, Designer
bed spread Knitted Bed Spread, Wholesale Bed Spread, Chenille Bed Spread,
Luxury Bed Spread, that suits the personality and Style.
A collection of
wide range of Table clothes such as Handwork Table Clothes, Modern Design Table
Clothes, Printed Table Clothes with stitch work, machine embroidery, bead work
and prints, Tie-Dye using fabrics like cotton, voile, organdie, polyester and
also silk, dupion and organza, jacquard organza.
A Large Collection of
exclusive Curtains such as embroidery curtains, sequence curtains, bead
work curtains, Tie-Dye curtains, zardosi work on silk curtains, organza curtains,
jacquard organza curtains, voile curtains, organdie curtains, viscose curtains,
dupion curtains and also in low cost poly dupion curtains.
A collection of
wide range of eye catching Modern cushion covers, Embroidered cushion cover,
Printed Cushion Covers and ethnic designs of cushion covers which are
masterpieces of excellent craftsmanship. Hand embroidery cushion covers,
sequence and beaded cushion covers with zari, zardosi and mirror work.
Scarves and Stolls:
A collection of wide range of eye
catching Woven scarves, hand work scarves, bead work scarves, embroidered
scarves and cotton shawls, viscose shawls, silk shawls and polyester
fabrics shawls. Tussles at both sides well knotted, available in many styles
and colors. Also customized designs on handlooms.
A Large
collection of wide range of eye catching, Unique and uncommon concepts in
designing designer fashion bags such as using satin, polyester and cotton
canvas with artistic hand work, embroideries, sequence and beads and Payette
work, sometimes also hand printed with art work. Every lady's dream!.
Table Mats
Wholesale
A Large collection
of wide range of Wholesale Table Mats and Block printed table mats, Colorful
table mats, Stylish table mats, Patchwork table mats, Embroidered Table Mats,
dining table mats, Round Table Mats, Hand weaved table mats, Handmade table
mats and napkins such as Colorful napkins that suits the style. .
Woven and
printed fabric aprons and hand gloves with stripes around the neck and pocket
in the front, neatly stitched and reasonably prized. kitchen gloves,
cooking aprons, embroidered aprons, embroidered kitchen gloves, kitchen linen
wholesale, kitchen aprons manufacturers, kitchen gloves wholesale.
Manufacturers & exporters
of Running lengths Fabric and hand embroidered fabrics, knitted fabrics. Get
them self in timeless ethnic fabrics created by ace designers, that is a class
apart in terms of style, grace and quality.
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 records 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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.69 |
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1 |
Rs.80.90 |
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Euro |
1 |
Rs.56.42 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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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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42 |
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 |
|
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. |
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 |
|
<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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