MIRA
INFORM REPORT
|
Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAM INC |
|
|
|
|
Registered Office : |
118, 1ST Floor, Damji Shamji Ind., Est., Mahakali Caves Road,
Near Nelco Bus Stop, Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
IEC No.: |
0392036151 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS45514A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAHPL3202B |
|
|
|
|
Legal Form : |
Sole Proprietory
Concern |
|
|
|
|
Line of Business : |
Manufacturing and
Exporter of Scarves, Stoles, Shawls, Ponchos, Pareas, Sarongs, Beachwear,
bandana, Head wraps, Triangles, Belts, Skirts, Tops, Kurtis etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
– established and reputed concern meeting its normal commitments timeously.
Trade relations are fair. Business is active. General financials position is
satisfactory. The concern can be
considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Ms. Rupal |
|
Designation : |
Accountant |
|
Date : |
19.08.2008 |
LOCATIONS
|
Registered Office : |
118, 1ST Floor, Damji Shamji Ind., Est., Mahakali Caves
Road, Near Nelco Bus Stop, Andheri (East), Mumbai – 400093, Maharashtra,
India |
|
Tel. No.: |
91-22-66920093/26873581/67024011 |
|
Fax No.: |
91-22-66952010 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
Surat, Thane and Mumbai |
|
Area : |
10000sq.fts |
|
Location : |
Owned and Rented |
|
|
|
|
Factory : |
Gala No. AE 30, New Expire Indl. Est, Andheri (East), Mumbai,
Maharashtra |
|
Area : |
3000 Sq. ft |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Sanjay S.
Mantry |
|
Designation : |
Proprietor |
|
Address : |
C – 24, Padma
Nagar, A. K. Road, Andheri (East), Mumbai – 400 099, Maharashtra, India. |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
Charted
Accountant, Diploma in Fashion Designer and Textile, MBA, LLB and ACA |
|
Experience : |
20 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Exporter of Scarves, Stoles, Shawls, Ponchos, Pareas, Sarongs, Beachwear,
bandana, Head wraps, Triangles, Belts, Skirts, Tops, Kurtis etc |
|
|
|
|
Exports : |
|
|
Products : |
Textile, Fabrics and Garment |
|
Countries : |
European countries America |
|
|
|
|
Terms : |
|
|
Selling : |
L/C (60 days) |
|
|
|
|
Purchasing : |
L/C and Cash (60 to 90 days) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and Others |
|
|
|
|
No. of Employees : |
230 (30 office, 200 factory) |
|
|
|
|
Bankers : |
³
State Bank
of India, MIDC, Andheri (East), Mumbai, Maharashtra ³
HDFC Bank, Andheir (East), Mumbai, Maharashtra ³ Bank of India, Andheri (East) , Mumbai,
Maharashtra |
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Rajiv Delakha Charted
Accountant |
|
Address : |
Malad (West),
Mumbai, Maharashtra |
|
Tel. No.: |
91-22-28490772 |
|
|
|
|
Associates/Subsidiaries : |
v Sam
International 28, Damji Shamji Indl Est., Andheir (East) Line of Business: Manufacturing
and Exporter of Scarves, Stoles, Shawls, Ponchos, Pareas, Sarongs, Beachwear,
bandana, Head wraps, Triangles, Belts, Skirts, Tops, Kurtis v Centuri Ink
Private Limited Address : A – 14, Bonanza Indl. Est., A.C. Road, Kandivali, Mumbia –
101 Line of Business: Tetile Marker Pen v Mantri
International Address – C – 24, Padmanagpan, Andheri, Mumbai |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.30.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
USD 3.75
Millions |
USD 3.5 millions |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
²
AEPC
²
EPCH
²
PLEC
²
Bombay Chamber of Commerce
Trustseal Acceptance
Chart
|
Existence Verification |
|
|
Name |
SAM INC |
|
Address |
118, 1ST Floor, Damji Shamji Ind., Est., Mahakali Caves
Road, Near Nelco Bus Stop, Andheri (East), Mumbai – 400093, Maharashtra |
|
Phone/ Mobile Numbers |
91-22-66920093/26873581/67024011 |
|
Fax Numbers |
91-22-66952010 |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Sole Proprietory
Concern |
|
Income Tax Registration |
AAHPM3202B |
|
VAT/ TIN Registration |
27070263507V |
|
Name of Bank |
HDFC Bank, Andheir (East), Mumbai, Maharashtra |
|
Current Account Number |
05432560002691 |
|
Account Since |
2007 |
AS PER WEBSITE:
PROFILE:
Subject is one of India's leading and largest
growing quality conscious manufacturer and exporter of wide variety of fashion
accessories such as womens scarves, head scarves, womens head scarves, indian scarves,
stoles, shawls, sarongs, head wraps, bandanas, hand bags, purses, crochet,
costume jewellery, hair wears, ties etc., textile fabrics and woven ready made
garments, having office; factory and processing plant in Bombay. They
specialise in all kinds of scarves, stoles, pareos, shawls, head wraps,
triangles, bandanas, poncho etc. in variety of styles, colours, fabrics and
sizes unfolding a world of fashion and designs.
PRODUCTS:
Fashion
Accessories : They are manufacturer of Womens Scarves,
Head Scarves, Stoles, Oblongs, Pareos, Sarongs, Bandanas, Shawls, Jamawar
shawls, Head wraps, Triangle, Hand Bags, Purses, Hair wear, Scrunches, Ties,
Caps, Beachwear, made ups, fabrics and woven Apparel for both men and women clothing.
Fabrics : Rayon,
Cotton, Polyester, Wool, Nylon, Silk, Velvet, Chiffon, Georgette, Blended,
Fancy, Net, Jacquards, Hand Crochet, Burn-out, Handloom etc.
Range
of Styles : They have a wide
range of designs such as solids, Tie and Dye, Shaded, Ombre, Aari, Embroidery,
Beads, Sequins, Fringes, hand crochet etc and also, prints such as floral, animal, checks, paisley, abstract, geometric,
batik, block, brush paint in variety of sizes and colours.
MISSION:
As one
of the largest growing export companies in India, their mission and driving
force is 100 % customer satisfaction
in terms of quality, punctuality and total customer service at competitive
prices.
State-of-the-art technology, sound financial backing and large resources help
them strengthen their quality standards and on time delivery. Their designer
team is aware of latest fashion trends and incorporate them in their on-going
continuous development. Their commitment to customer service, excellent quality
and values will always keep bringing you to
Subject
Presently,
they are exporting to well reputed and top-notch labels in Europe, America etc.
They have excellent manufacturing and processing facility for the fabrics
along-with a well-equipped sampling department. Also, a large in house
stitching manufacturing capacity backed by experienced work force with an
uncompromising commitment to quality and on time delivery at most competitive
prices to give complete customer satisfaction. They handle large and small orders with equal ease and ensure quality
and promptness at all times.
Subject specializes in the manufacture and exports of high quality fashion accessories and readymade garments for the global buyers. They have their own office, Factory, Processing plant and large Showroom which is located near the International and Domestic airport in Bombay ( Mumbai ) . They are trusted worldwide for their extensive range and quality of fashion accessories for women, Men and kids.
Subject
is backed by a strong state-of- the-art technology, excellent manufacturing and
processing facility, sound financial backing and large resources that help them
strengthen their quality standards and on time delivery. Sam Inc also, has a
well-equipped sampling department and makes new designs every day and can
develop new styles as per the idea or specifications. Their designer team is
aware of latest fashion trends and incorporate them in their on-going
continuous development.
Management Setup:
Introduction :
Sam Inc.'s forte is service to the clients,
uncompromising commitment to quality and delivery at competitive prices and
catering to large and small orders with equal ease.
Quality Control Setup
QA/QC Introduction :
100 % Customer Satisfaction
Test Equipment and Facilities :
Sam Inc. is backed by a strong state-of-
the-art technology, excellent manufacturing and processing facility, sound
financial backing and large resources that help them strengthen their quality
standards and on time delivery. Sam Inc also, has a well-equipped sampling
department and makes new designs every day and can develop new styles as per
the idea or specifications. Their designer team is aware of latest fashion
trends and incorporate them in their on-going continuous development. They have
a large in house stitching manufacturing capacity backed by experienced work
force with an uncompromising commitment to quality and service.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
|
UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|