MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MALINI EXPORT |
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Registered Office : |
No.20, Tamil Thendral Street, Arasaradi, Madurai – 625010, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader, Importer and Merchant Exporter of Textile Products and
Machinery |
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions |
INFORMATION PARTED
BY
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Name : |
Mr. Pandurangan |
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Designation : |
Proprietor |
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Contact No.: |
91-9994443022 |
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Date : |
27.08.2008 |
LOCATIONS
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Registered Office : |
No.20, Tamil Thendral Street, Arasaradi, Madurai – 625010, Tamilnadu,
India. |
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Tel. No.: |
91-452-4355115/4355110 |
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Mobile No.: |
91-9994443022 |
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Fax No.: |
91-452-4355115 |
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E-Mail : |
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Area : |
Small |
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Location : |
Owned |
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Head Office : |
No.242, Voc Main Road, P.P. Chavadi, Madurai – 625016, Tamilnadu,
India. |
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Tel. No.: |
91-452-4355115 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. N. Pandurangan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 Years |
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Qualification : |
BSC |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Trader, Importer and Merchant Exporter of Textile Products and
Machinery |
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Products : |
v T-Shirts v Bath Mat |
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Exports : |
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Products : |
Textile |
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Countries : |
Europe, USA, Australia, Germany, UK, Spain, Italy, Canada and France |
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Imports : |
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Products : |
Machinery |
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Countries : |
China and Middle East |
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Terms : |
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Selling : |
L/C, Credit and Advance Payments |
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Purchasing : |
L/C, Cash, Credit and Advance |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
5 |
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Bankers : |
ICICI Bank, Madurai, Tamilnadu |
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Facilities : |
The concern do not enjoy facility from its bankers |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 Million (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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50.000 |
Expected Sales (2008-09): Rs. 50.000 more than
LOCAL AGENCY
FURTHER INFORMATION
Other Information:
Business:
Subject is Exporter of Cotton/ Handloom made-ups such as Terry Towels,
Kitchen/ Bath/ Table Mats, Bed Linen etc.
Subject is reported to out-source its manufacturing activity from
other/s.
Subject has no import, Collaboration or Agencies held.
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
MALINI EXPORT |
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Address |
No.20, Tamil Thendral Street, Arasaradi, Madhrai – 625010, Tamilnadu |
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Tel. No.: |
91-452-4355110 |
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Mobile No.: |
91-9994443022 |
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Fax No.: |
91-452-4355115 |
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Statutory Approvals |
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Legal Status of Firm |
Sole Propritory Concern |
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Income Tax Registration |
ANJPP1619E |
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Central Sales Tax Registration |
154625 |
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VAT/ TIN Registration |
33305163964-U |
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Import Export Code |
3505007064 |
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Name of Bank |
ICICI Bank, Madurai, Tamilnadu |
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Current Account Number |
601705002883 |
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Account Since |
2007 |
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Credibility Factors |
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IndiaMART Client Since |
3 Years |
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Years of Establishment |
2006 |
AS PER WEBSITE
DETAILS
Profile
Incepted in the year 2006, subject is one of the fastest growing company and buying house dealing in a range of home furnishings that ranges from a rich assortment of towels to bed linens, curtains & cushions and others. To attain complete client satisfaction, they offer their clients with a package of value added services that includes tailor made solutions, customized packaging and resourceful documentation.
Leveraging on rich market experience and trade expertise they are able to
locate a reliable vendor base for their variety of home furnishings. Based on
their strategic associations with multiple
vendors and prompt distribution
& logistics network, they are in a position to meet the bulk consignment orders within the stipulated time frame.
Mr. N.Pandurangan, their mentor,
with a rich experience of more than18
years in the field of export, has helped them immensely to understand
the global market and the variegated needs of the clients. It is owing to his
sharp business skill that they are able to reach the potential clients and
effectively promote their range in the challenging markets of Germany, U.K, Spain, Italy, France, Australia
and others.
Value-Added Services
Their endeavors are
not only directed towards offering clients with a suitable and qualitative
collection of home furnishings, but also offer them with effective value added
services that includes:
Customization: With
their understanding of client needs they convey the same to their database of
vendors, to source the most appropriate range that best suits their
requirements and specifications.
Effective
Warehousing: Based on their excellent warehousing facility, they are able to
store the consignment orders in bulk quantities in a safe manner and also
maintain a prompt and continuous supply as per market requirements.
Customized
Packaging: They possess the ability to offer their clients with customized
packaging facility to make sure that the consignments reach clients in a safe
and sound manner. Also they can get the orders packaged as per their specific
requirements.
Effective
Distribution & Logistics: Based on their wide and strong distribution &
logistic network, they are able to export their range across various parts of
the globe efficiently, enabling them to ship their consignments within the promised
time frame.
Documentation: They
make sure that every detail and documentation related to trade and export is
taken care of by them, to make sure that their clients face no troubles during
transit or transportation.
Rich Vendor Base
Meeting client
requirement within the stipulated time period has been vital for them as any
delay in their delivery schedules may hinder the growth and success of their
business. Also dealing in a rich variety of home furnishings ranging from
towels to bed linens, curtains & cushions and others, it becomes necessary
for them to maintain a strong alliance with a rich and multiple network of
clients, specializing in the production of each product.
After a complete understanding of client specific needs, their sourcing agents
make use of their trading expertise and marketing skills to source a suitable
range that stands at par with client expectations. Their agents before
finalizing the suppliers make sure that they have a strong market hold and
credibility. This assures them of their reliability, helping them to secure a
dependable and trustworthy database of vendors and
manufacturers.
Team
They have a
competent and able team of workforce who form the backbone of their
organization helping them to grow and expand their territories across various
global export markets. Excellent marketing skills coupled with inventive trade
practices enable them to understand the needs of the global audience and cater
to the same in the most effective and efficient manner. Such experience and
skill enables them to source the most qualitative home furnishing range from
appropriate vendor base and also deliver it well on time.
Their team
comprises of dedicated and enthusiastic team of:
v Procuring Agents
v Quality Auditors
v Sales and
Marketing
v Warehousing and
Packaging
v Administrative
v C & F Agents
v Managerial
They have achieved their present
standing on the basis of their hard work and perseverance. They work in close
cooperation with suppliers as well as clients to make sure that there are no
discrepancies in the supply chain. Also, they are regularly trained in the
various trade laws and business practices followed in various territories.
Quality Assurance
Assuring products of
impeccable quality has always been vital for them, as any defect or flaw
detected in their collection of home
furnishing, will lead to loss of valuable clients and business. To make
sure that such doesn’t happen, they follow a strict quality control program
wherein their quality auditors inspect and supervise every incoming lot.
They make occasional visits to manufacturers’ site to keep a tab on the raw
materials and method of operation adopted by them. They make sure that each
product received from clients end stands at par with global standards and
client specifications. Their range is subjected to stringent quality checks
based on the following parameters:
Dimensional
stability
Color
fastness
Shrinkage
Dyeing
Printing
Durability of fabric
and embellishments(if any)
Such quality checks ensure that they receive and deliver only flawless products
from their end.
Warehousing and Packaging
They have an
excellent warehousing facility to store their range of home furnishing in bulk
quantities. This enables them to maintain a prompt and continuous supply of
home furnishings across the global market, as and when required by their
clients. Their warehousing unit is regularly cleaned and fumigated to keep
their range safe and free from any damage caused due to rodents or other
hazards.
Their packaging experts prior to dispatch visually inspect the range to make
sure that only flawless products get dispatched from their end. Further, they
have the facility to offer customized packaging to ensure that the range is
delivered safely to their client destination. They can be suitably labeled with
the necessary information as specified by their clients.
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.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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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