MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
EAGLE BUSINESS CORPORATION |
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Registered Office : |
25, Hansa Tower, Central market, Ashok Vihar, Delhi – 110 052 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Leather Goods, Gift Items and Clothing. |
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 : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
25, Hansa Tower, Central market, Ashok Vihar, Delhi – 110 052, India |
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Tel. No.: |
91-11-32994337 |
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Mobile No.: |
91-9810126345 / 9811129212 / 9312608843 |
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Fax No.: |
91-11-30720212 |
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E-Mail : |
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Area : |
600 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Wazir Pur Industrial Area, New Delhi, India |
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Area : |
1500 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Ashish Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Leather Goods, Gift Items and Clothing |
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Products : |
v Laptop Bags (in leather/artificial leather/nylon): Portfolio/Executive, Overnighter, Trolleys, etc. v Travel Bags (in leather/ artificial leather/nylon): Duffle/Clutch Bags/Multipurpose Waist Pouch/Trolley Duffle, etc. v Leather Personal Accessories: Wallet/Passport Holder/File Folder/Credit v Card Cover/Cheque Book Cover/Key Chains v Textile: (Wind Cheater/Apron/Caps/Shirts) v Wooden/Plastic Molded/Acrylic. |
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Agencies Held : |
PAQ, Hong Kong |
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Imports : |
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Products : |
v Laptop Bags (in leather/artificial leather/nylon): Portfolio/Executive, Overnighter, Trolleys, etc. v Travel Bags (in leather/ artificial leather/nylon): Duffle/Clutch Bags/Multipurpose Waist Pouch/Trolley Duffle, etc. v Leather Personal Accessories: Wallet/Passport Holder/File Folder/Credit v Card Cover/Cheque Book Cover/Key Chains v Textile: (Wind Cheater/Apron/Caps/Shirts) v Wooden/Plastic Molded/Acrylic. |
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Countries : |
v Hong Kong v China v Taiwan |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
L/C, Cash or Credit |
PRODUCTION STATUS
Capacity to
increase production by : 35%
GENERAL
INFORMATION
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Suppliers : |
v PAQ, Hong Kong v Own
Manufacturing ( Purchase of raw material from Open Market and From China, Taiwan
and Hong Kong ) |
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
ICICI Bank Limited Ashok Vihar, New Delhi – 110 052 |
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Facilities : |
Cash Credit Rs. 0.500 Million |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 Millions |
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Borrowed : |
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Total : |
Rs. 3.000 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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25.000 |
22.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08) : Rs. 30.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS
ATTACHED:
A reputed name in the
arena of manufacturing excellent leather belts, bags, wallets and other leather
items...
Profile
The subject has been engaged in the marketing of gift articles to corporate houses for promotion and motivation activities with its external and internal customers. They are a progressive company manufacturing a comprehensive range of Products in Leather/Leatherite (PU) with production capacity of 5000 bags and 10,000 wallets per month. The range includes Portfolios, Overnighters, Backpacks, Hand Bags, Travel Bags, Trolley Bags, File Folders, Cheque Book Covers, Wallets and Desktop Items.
Leather articles give an aristocrat appearance to everyone's personality. Subject is a progressive company in the arena of leather products. The company has earned the reputation of a dignified manufacturer and supplier of high quality Leather Laptop Bags, range of Leather Personal Accessories (Wallet/Passport Holder/File Folder/Cheque Book Cover etc.) and Promotional Gift Items in Textiles, Plastics, Wood and Acrylic. They are a professionally managed concern and are administered by sound management ethics at every level of the manufacturing process.
Their unmatched range of products has earned worldwide appreciation, owing to the superior finish & quality of the leather creations. They are well supported by a team of innovative craftsmen who possess proficiency in converting an ordinary leather item into the examples of human excellence. Their products are known for their elegance and superior quality.
Product Range
The subject has emerged as a distinguished manufacturer and exporter of high quality leather goods and accessories. They are well supported by a team of highly skilled artisans with miraculous abilities that enables them to design an array of exclusive products. Their catalog of products includes:
v Laptop Bags (in leather/artificial leather/nylon): Portfolio/Executive, Overnighter, Trolleys, etc.
v Travel Bags (in leather/ artificial leather/nylon): Duffle/Clutch Bags/Multipurpose Waist Pouch/Trolley Duffle, etc.
v Leather Personal Accessories: Wallet/Passport Holder/File Folder/Credit
v Card Cover/Cheque Book Cover/Key Chains
v Textile: (Wind Cheater/Apron/Caps/Shirts)
v Wooden/Plastic Molded/Acrylic.
Distribution
v Laptop Bags
v Camera Bags for
v Slim Compact/Mid Compact Digital Cameras
v Digital Video Camcorder
v Mobile Phone Covers
v CD-Player Bags
v MP3 & i Pod Pouches
v CD-Wallets & Visors
v Multipurpose Waist Pouches.
They are distributors for PAQ, a Hongkong based company. The Products are designed and styled by leading international designers. They match the style and quality seen in world famous brands like Targus, Lowepro, Jansport, Samsonite, etc. PAQ designer products have been launched in many markets of Europe, USA & Australia in recent times; further the company has long & rich experience of being ODM.
PAQ meets the needs of emerging lifestyle of consumers at very attractive prices. The products are of topmost quality offered at mid level prices which completely fit the aspirations of Indian consumers looking at value for money. PAQ products carry lifetime warranty subject to conditions.
Since its launch in Oct. 2005 in India, PAQ products are approved at leading chain stores like Lifestyle, Piramyd, Landmark, Crossword, Odyssey, Hypercity, Pantaloon (Depot), Music World, Woolworth, Planet M, etc.
Quality
Excellent quality is the primary concern at Eagle Business Corporation. They
strictly adhere to stringent quality control measures throughout our
manufacturing process that prompts error free production from every level. The
product specific approach assures individual attention regarding the finish
& quality of each item of their range. Every product passes through a
series of severe inspection procedures that invalidates every possibility of
quality degradation. They employ premier quality of raw material which is
sourced from reputed agents.
Alluring Designs
They are well equipped with a team of highly skilled designers who are fueled
with high degree of creativity to innovate the latest and trendy designs as per
emerging tastes of the clients. Their designers can deliver both, traditional
and contemporary designs.
Infrastructure
They boast of an outstanding infrastructural ability that provides them the
capability to fulfill all their business objectives. Every section of their
unit is equipped with world class machines in order to deliver top-notch
quality to their valued clients. They also have an advanced laboratory to
conduct various tests. Their spacious warehouse and wide distribution network
ensure timely delivery of the products to the customers spread all over the
world.
Why They?
v A gamut of premier quality leather products under one roof
v Trendy and appealing designs
v Impeccable quality to cater to the client's desirable taste
v Stringent quality control measures to ensure flawless production
v Timely delivery of the products
v Capability to feed bulk demand in stipulated time frame
v Reasonable prices.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.40 |
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UK Pound |
1 |
Rs. 81.12 |
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Euro |
1 |
Rs. 56.69 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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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45 |
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. |
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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