MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SINGHVI INTERNATIONAL |
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Registered Office : |
505, Vasundhara
2/7, Sarat Bose Road, Kolkata – 700020, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1971 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Importer
and Exporters of Industrial Leather Hand Gloves, Apronswelding Jacket,
Trousers, Leg Guard, Arm Protection etc. |
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 700000 |
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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 a well
established concern having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are 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. Sohanraj
Singhvi |
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Designation : |
Chief Executive
Officer (Father of Proprietor) |
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Date : |
23.08.2008 |
LOCATIONS
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Registered Office : |
505, Vasundhara
2/7, Sarat Bose Road, Kolkata – 700020, West Bengal, India |
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Tel. No.: |
91-33-24750866 /
24750697 / 2470750 / 24745443 / 24750625
/ 2475 8906 |
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Mobile No.: |
91-9830053270
(Mr. Virendra Singhvi) |
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Fax No.: |
91-33-24758906 /
24758364 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
2, Nawab Patty Road,
Cossipure, Kolkata – 700002, West Bengal, India |
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Tel. No.: |
91-33-25576226 |
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Area : |
3300 Sq. ft |
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Location : |
Owned |
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Factory 2 : |
6, Nawab
Dilarjung Road, Kolkata – 700002 , West Bengal, India |
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Tel. No.: |
91-33-25585843 |
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Area : |
2800 Sq. ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Virendra
Singhvi |
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Designation : |
Proprietor |
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Address : |
20 Lansdowne
Court, 5B, Sarat Bose Road, Kolkata – 700020, West Bengal, India |
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Date of Birth/Age : |
50 years |
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Qualification : |
B.Com |
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Experience : |
30 years |
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Mobile No.: |
91-9830053270 |
KEY EXECUTIVES
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Name : |
Mr. Sohanraj
Singhvi |
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Designation : |
Chief Executive
Officer (Father of Proprietor) |
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Address : |
505, Vasundhara
2/7, Sarat Bose Road, Kolkata – 700020, West Bengal, India |
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Date of Birth/Age : |
73 years |
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Qualification : |
B. Com |
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Experience : |
30 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer
and Exporters of Industrial Leather Hand Gloves, Apronswelding Jacket,
Trousers, Leg Guard, Arm Protection etc. |
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Export : |
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Product : |
· Dried Parts of Plants for Decorative Purpose , · Pot Pourri, · Jute Handicrafts & Terracotta Products, · Sea Shells, Sola Items, · Another Product Line "Industrial Leather Gloves & Aprons |
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Import : |
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Countries : |
Brazil, Holland
and Germany |
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Terms : |
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Selling : |
L/C and Credit
[45 days] |
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Purchasing : |
L/C and Credit
[90 days] |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
225 (25 in
Office and 200 in Factory) |
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Bankers : |
v
Deutsche Bank,
Brook House, Ground Floor, 9, Shakespeare Sarani, Kolkata – 700071, West
Bengal, India v
HDFC Bank
Limited, 2/6, Sarat Bose Road, Kolkata – 700020, West Bengal, India v
State Bank
of India, Kolkata Branch, West Bengal, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
Marodia Khanna
& Associates Chartered
Accountants |
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Address : |
4, Gangadhar Babu
Lane, Kolkata – 700012, West Bengal, India
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Tel. No.: |
91-33-22349739 |
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E-Mail : |
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Member : |
· APEDA - Agricultural and Processed Food Products Export Development Authority. · FIEO - Federation of Indian Export Organization. · CCC - Calcutta Chamber of Commerce. · FOSMI - Federation of Small Industries. |
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Associates/Subsidiaries : |
Name : Singhvi
International Private Limited Address: 2/7, Sarat Bose Road, Kolkata –
700 020, West Bengal, India E- mail ID: singhvi_intl@eth.net CIN of the
Company : U74999WB1990PTC048884 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 120.000 millions |
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Borrowed : |
Rs. 20.000 millions |
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Total : |
Rs. 140.000 millions |
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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200.000 |
Sales for the year (2008-09) expected to be increase by 10%.
LOCAL AGENCY
FURTHER INFORMATION
Website Details :-
Concern Profile :-
For more than 25 years, subject has been engaged in the export of quality leather hand gloves and safety garments world-wide. Their other line of business activity also include export of Dried Flower and Pot Pourri. They illustrate part of its range of :-
Over
the years, they have won numerous awards including the National Award for
Excellence in Exports for 3 consecutive years and are recognised as a Golden
Export House by the Government of India.
Product Info –
Standards and Sizes
Gloves generally conform to European Standard EN 388 and/or EN 420 and/or EN 407 as per CE CAT-1 (minimal risks) and/or CE CAT-2 (medium risks).
This site does not contain all the products available.
Gloves can be produced in cow, buffalo, goat or sheep leather in any colour.
Status -
A GOLDEN STATUS EXPORT HOUSE recognised by Government of India.
Awards
- Winner of 3 consecutive NATIONAL AWARDS for excellence in Exports.
- APEDA Award for excellence in Exports
- Golden Export House Award received on 31.08.2000.
Glove sizes:
SIZE CIRCUMFERENCE
OF HAND HAND
LENGTH MIN. GLOVE
LENGTH
6 15.2 cm 16.0
cm 22 cm
7 17.8 cm 17.1
cm 23 cm
8 20.3 cm 18.2
cm 24 cm
9 22.9 cm 19.2
cm 25 cm
10 25.4 cm 20.4
cm 26 cm
11 27.9 cm 21.5
cm 27 cm
Office Premises -
Spread over 4000 sq.ft. fully computerized and air-conditioned with modern office equipments. Having a team of 25 efficient and dedicated staff.
Warehouses -
In and around Kolkata with experienced labourers for Quality control, Counting and final Packing. Packing can be arranged as per Customer requirements.
Annual Turnover -
Average annual turnover is over US $ 7 million and it is growing continuously year after year.
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.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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 |
5 |
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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 |
YES |
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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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