MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
V GORGEOUS BABE |
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Registered Office : |
G - 31-21, Diamond Colony Trangle, Indore – 452 001, Madhya Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Kids Wear and Ladies Garments |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Comments : |
Ms. Seema Jaiswal, proprietor remained non-co-operative despite of our
several approaches. Partial information was obtained from secondary sources. In absent of require business and financial details it would be
prudent to deal with the concern on fully safe and secured trade terms and
conditions, only. |
LOCATIONS
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Registered Office : |
G - 31-21, Diamond Colony Trangle, Indore – 452 001, Madhya Pradesh,
India |
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Tel. No.: |
91-731-6456488 |
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Mobile No.: |
91-9926017744 |
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E-Mail : |
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Location : |
Rented |
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Factory : |
Santosh Kuti New Road, Ujjain-456 335, Madhya Pradesh, India |
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Tel. No.: |
91-734-2556108 |
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Area : |
1000 - 3000 Sq. Mtrs. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Ms. Seema Jaiswal |
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Designation : |
Proprietor cum Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Kids Wear and Ladies Garments |
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Products : |
· Ladies Top · A – Line Dresses · Fashion Sarees · Kids Garments · Kurtas and Salwar Suits · Evening Dress · Ladies Skirt · Ladies Shirts and Trousers · Fashion Jackets |
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Brand Names : |
“Vgorgeous Babe “ |
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Exports : |
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Products : |
Garments |
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Countries : |
USA, Asia, Africa, Europe |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, Departmental Stores |
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No. of Employees : |
15 (5 in Office and 10 in Factory) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions (Estimated) |
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Borrowed : |
----- |
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Total : |
Rs. 1.500 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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10.000 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Profile
The concern is a reputed manufacturer and supplier of a wide range of kids
wear and ladies garments. With their strong and unwavering determination to
emerge as a global winner, they have developed a collection that is exemplary
and has high aesthetic appeal.
Incepted in 2006, they have explored new arena under the supervision of Ms.
Seema who is a well recognized name in fashion industry. She has done her
course in fashion designing from U.K. and also holds an experience of 12 years
in this domain.
Their talented team of designers and artisans help them to design as well as
deliver garments in trendy designs and also imbibe latest technology to put
forth an unmatched collection. The rapid growth of their firm has helped them
to achieve an annual turnover of 5 million rupees.
Mesmerizing Collection
They design, develop and supply a striking range of garments for women
and kids of different age groups. Made using high quality fabrics, these
apparels are available in different designs and color combinations. The
attractive cuts and finishes of these garments are incomparable and also arouse
sensation in the fashion and garment industry. The different products available
with them are:
· Tops
· Skirt
· Kurtas/ Salwar Suits
· Sarees and Lehengas
· Shirts/ Trousers
· Evening Dress
· A-line Dresses
· Jackets/ Denim
· Kids Collection
Customization of Their Products
Preparing a perfect blend of Indo-western designs, they have offered
their clients with a unique array of kids and ladies garments. Their skilled
team and apt machines enable them to meet the individual demands of the
clients.
They also ensure that all their products can be customized in terms of:
· Embroideries
· Prints
· Fabrics
· Colors
· Cuts
· Sizes
Quality
Through their unprecedented involvement in making new and well designed
products right from sourcing to supplying, they have been successful in raising
the bar of quality standards. Keeping an eye to detail, they have ensured that
each garment is different from the other. The quality monitoring starts with
the very first step of production process and continues till the last one.
The usage of high quality raw materials like fabrics, threads, buttons,
ribbons, laces, embellishments ensures that no compromise can be made at their
unit. All their products when ready are tested on different quality parameters that
are:
· Quality of fabrics
· Design
· Finish
· Stitching
· Color combinations
Designs
The attractive designs available with them are the result of the skills
and creativity of their workforce. They often adopt the modern trends that are
in sync with the market. These designs are incorporated and blended with their
ideas to put forth an exquisite collection. The different types of sleeves,
necklines and cuts of their ladies wear collection reflect their mastery in
designing different kinds of dresses.
The varied types of embroideries on their dresses show the expertise of their
craftsmen in carving them. The enchanting color combinations selected by them
also enhance the elegance and style of the garments.
Infrastructural Facilities
At the concern, they have all the manufacturing facilities that enable
them to develop high quality products in huge amount. Through their expertise
in this domain, they easily understand that which production technique would
assist them in meeting the deadlines without meeting the aspect of quality.
They have different departments at their unit that have installed various
machines that include:
· Stitching Machines
· Cutting Machines
· Over lock Machines
· Picotting Machines
· Trimmer Machines
· Layout Machines
· Embroidery Machines
Team – Their Strength
With their experienced team of professionals, they understand that which
retailer or client is looking for what in his or her range. The initial stage
begins with the work of designer who put forth exquisite products. Their team
of skilled artisans tries to offer trendy dresses in designs and colors as per
the choices of the clients. They are adept at different types of embroideries
and can stitch garments that can match the choices of the clients.
Clientele
With their hands on wide experience of their team members, they have
been serving the needs and demands of apparel retailers, wholesalers and other
clients. Through their scintillating collection of kids wear and attractive
ladies apparels, they earn accolades and repeated orders from their clients in
various parts of India. Besides their clients in the domestic arena, they have
a strong foothold in the foreign garments markets. The different continents
where they have placed their selves firmly within a short span of time are:
· USA
· Asia
· Africa
· Europe
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 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. 42.40 |
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UK Pound |
1 |
Rs. 83.57 |
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Euro |
1 |
Rs. 66.02 |
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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