MIRA
INFORM REPORT
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Report Date : |
28.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BIPOLAR INTERNATIONAL |
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Registered Office : |
834/1, Block – K, Mahipalpur, New Delhi – 110 03337 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Human Hairs |
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 5000 |
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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. Trade relations are fair. Business is active. Payments are
reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vivek Man |
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Designation : |
Proprietor and Chief Executive Officer |
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Date : |
28.04.2008 |
LOCATIONS
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Registered Office : |
834/1, Block – K, Mahipalpur, New Delhi – 110 037, India |
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Tel. No.: |
91-11-26788114 / 26788115 |
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Mobile No.: |
91-9818870333 / 9310129333 / 9818129333 |
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Fax No.: |
91-11-26781200 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq.fts |
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Location : |
Owned |
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Factory : |
Plot No. 254, Sector 6, INT, Manesar, Haryana, India |
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Area : |
250 Sq.mtrs |
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Location : |
Owned |
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Overseas Office : |
Room 1401, Cambridge House, 26-28, Cameron Road, TSIM SHA TSUI,
Kowloon, Hong Kong |
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Tel. No.: |
86-2039931809 |
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Fax No.: |
86-2084788163 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Vivek Man |
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Designation : |
Proprietor and Chief Executive Officer |
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Date of Birth/Age : |
35 years |
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Qualification : |
B Tech |
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Experience : |
9 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Human Hairs |
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Products : |
· Human Hair Single Drawn · Human Hair Double Drawn · Remy · Non Remy · Virgin Human Hair · Hand Tied Weft · Machine Tied Weft · Wigs and Human Hair Accessories |
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Exports : |
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Products : |
Human Hair Single Drawn, Human Hair Double Drawn, Remy, Non Remy, Virgin Human Hair, Hand Tied Weft, Machine Tied Weft, Wigs and Human Hair Accessories |
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Countries : |
UK, USA, Spain, Japan, Switzerland |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing (Purchases of raw material from open market) |
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Customers : |
· Hamza S L – Spain · Apeslute Look – Switzerland |
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No. of Employees : |
15 |
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Bankers : |
· IDBI Bank Limited, Mahipalpur, New Delhi · Kotak Mahindra, Rajender, Nagar, New Delhi |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
· Besda Company Limited Address: Room No. 1401, Cambridge House ,
26-28, Cameron Road, TSIM SHA TSUI, Kowloon, Hong Kong Tel No.; 86-2039931809 Fax No.; 86-2084788163 E-Mail: exports@bipolarinternational.co.in Websites: www.bipolarinternational.co.in
· Bipoler Indotronix · Kamal Envirotech Private Limited Address: Room No. 1401, Cambridge House ,
26-28, Cameron Road, TSIM SHA TSUI, Kowloon, Hong Kong Activities: Manufacturer of Automatic Electroplating Plant, Phosphating
Plant, TI – Basket, TI Coils, Filter Units, parts and Accessories of plant
for waste water of automobile industries, Clarifier, Wet Scrubber, dust
Collector, spray Painting Booth. Sales turnover : Rs. 70.000 millions |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.200 millions |
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Borrowed : |
--- |
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Total : |
Rs. 1.200 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
2.500 |
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Profit/Loss for the year |
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12% |
12% |
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Export Value |
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80% |
100% |
Expected Sales (2008-09): Rs.15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The concern has been engaged in manufacturing and export of broad premium quality of Human Hairs(Human Hair Single Drawn, Human Hair Double Drawn, Remy, Non-Remy, Virgin Human Hair, Hand tied weft, Machine tied weft, Wigs and Human Hair Accessories), TPU and Mobilon Tapes and Fibre Glass Sheets that are made using special low hardness imported resin using a patent and unique technology.
Their concern has grown by leaps and bounds owing to its commitment towards excellence and emphasis on trust and clarity in all the types of dealings. They have made their mark in the quality conscious markets of India as well as nations across the world. Their USP lies in the thorough knowledge of operating as well as emerging markets and an unmatched transnational reach that enables buyers and sellers to identify markets and products at the right time, right place and at the right price.
They endeavor to maintain the quality and uniqueness of their products, keeping their prices reasonable and deliver it on schedule. They provide their clients with the best quality products. Their products and equipments are supplied meeting the international standards duly inspected by the evaluation agencies. They source only the superior quality products and their procurement team consists of highly skilled professionals who supervise the procurement process and ensure that their customers get nothing but the best.
Meanwhile, to ensure excellent quality levels, they have implemented a quality control system to ensure that all products are strictly monitored and tested at each stage of production process, with defective items removed and disposed of, to ensure 100% satisfaction to their customers. As a result of fierce competition, they have strict controls on the materials production. 'Superior Quality, Attractive Varieties and Reasonable Pricing' are their main advantages and make their products more competitive in the international market.
Established in 2004, the concern has been engaged in manufacturing and export of broad categories of Human Hairs ( like as Human Hair Single Drawn, Human Hair Double Drawn, Remy, Non-Remy, Virgin Human Hair, Hand tied weft, Machine tied weft, Wigs and Human Hair Accessories.), TPU and Mobilon Tapes and Fibre Glass Sheets. These Human Hairs whether Single or Double Drawn, Remy or Non-Remy are hackled and trimmed on one side and the size of the hairs varies from uniform, lower to upper. These hairs are used in the manufacturing of Wigs, Mannequins, Extensions and Hair Pieces.
Their concern has grown by leaps and bounds owing to its commitment towards excellence and emphasis on trust and clarity in all the types of dealings. They have made their mark in the quality conscious markets of India as well as nations across the world. Their USP lies in the thorough knowledge of operating as well as emerging markets and an unmatched transnational reach that enables buyers and sellers to identify markets and products at the right time, right place and at the right price.
They endeavor to maintain the quality and uniqueness of their products, keeping
their prices reasonable and deliver it on schedule. They provide their clients
with the best quality products. Their products and equipments are supplied
meeting the international standards duly inspected by the evaluation agencies.
They source only the superior quality products and their procurement team
consists of highly skilled professionals who supervise the procurement process
and ensure that their customers get nothing but the best.
They are a quality driven concern and strictly adhere to rigid quality control procedures at every level of production process. Their concern follows internationally accepted standards while manufacturing the products. Every stage is monitored by highly experienced professionals who hardly leave even a single scope for quality reduction. Their wide distribution network acts like an express way to ensure smooth trafficking of goods.;
Meanwhile, to ensure excellent quality levels, they have implemented a quality control system to ensure that all products are strictly monitored and tested at each stage of production process, with defective items removed and disposed of, to ensure 100% satisfaction to their customers. As a result of fierce competition, they have strict controls on the materials production. 'Superior Quality, Attractive Varieties and Reasonable Pricing' are their main advantages and make their products more competitive in the international market
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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.40.18 |
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UK Pound |
1 |
Rs.79.25 |
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Euro |
1 |
Rs.62.90 |
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 |
NO |
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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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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 and 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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