MIRA
INFORM REPORT
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Report Date : |
21.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HAFIZ EXPORTS |
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Registered Office : |
B - 50, Hoisery Complex, Phase – II, Noida, Gautam Budh Nagar, Noida –
201 305, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporters of Home Furnishing like Bed Sheets, Covers,
Table Cloth. |
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 25500 |
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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. Proprietor is reported as experienced and respectable businessman.
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. |
LOCATIONS
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Registered Office/Factory : |
B - 50, Hoisery Complex, Phase – II, Noida, Gautam Budh Nagar, Noida –
201 305, Uttar Pradesh |
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Tel. No.: |
91-120-4240428 / 2460286 |
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Mobile No.: |
91-9810055561 / 9868513157 |
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Fax No.: |
91-120-2460286 / 4240428 |
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E-Mail : |
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Website : |
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Area : |
30000 sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Shakil Ahmed |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 years |
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Qualification : |
Post Graduate |
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Experience : |
11 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Home Furnishing like Bed Sheets, Covers,
Table Cloth. |
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Products : |
· Bedding: Quilts, Duvet Covers, Bed Spread Sheets, Pillowcases and Pillow Shams, Cushion Covers, Bed Canopies · Kitchen Stuff: Table Cloths, Placemats, Napkins, Runners, Aprons · Christmas Stuff: Tree Skirts, Stockings, Ornaments · Curtains: Shower Curtains, Window Panels · Kids Range: Bedding, Bumpers, Play Tents, Soft Toys · Bags: Gift Bags, Wine Bottle Bags, Carry Bags, Packaging Bags |
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Exports : |
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Countries : |
USA, Europe, Australia |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit (60 days), Sight. |
GENERAL
INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
87 (12 in Office and 75 in
Factory ) |
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Bankers : |
Indusind Bank, Nehru Place, New Delhi – 110019 |
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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. 6.300 millions |
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Borrowed : |
--- |
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Total : |
Rs. 6.300 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
46.500 |
45.000 |
39.800 |
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Profit/Loss for the year |
2.150 |
2.109 |
2.080 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFENRECE:
· Creat and Barrel, USA
· Corn and Shop, UK
WEBSITE DETAILS:
With products of distinguished designs, vibrant colours, impeccable finish and competitive prices, they, "Hafiz Exports Private Limited.", have carved a valuable niche in the national as well as international market. Redefining the parameters of quality with an aesthetic appeal through Indian handwork and traditional art, their collection of products exhibits meticulous detailing incorporated by their skilled craftsmen. This has further established them one of the most distinguished manufacturers and exporters of Bedding, Kitchen Accessories, Curtains, Christmas Accessories, Kids Range and Bags. They hold an extensive experience in varied categories of textile printing. Rotary printing, screen printing as well as Indian traditional hand block printing are their modes of printing. They can print the fabric of upto 126" width.
Their experienced team of professionals is well adept and proficient with the nuances of art and belongs to a strong lineage. Their collection of home furnishing products doesn't recognize any limitation or boundary and is available in a range of both ethnic and modern designs. They have served the top customers from USA, Australia and Europe and have a strong reliable quality and price conscious vendor base.
Major Clients
Some of their major clients are:
· Crate and Barrel
· Stor
· The Land of Nod
· Harry and David.
Products
They create a fascinating range of home furnishing products, having incomparable beauty and elegance. They, as a manufacturer and exporter, offer an enchanting and scintillating collection of Home
Furnishings
including:
· Bedding: Quilts, Duvet Covers, Bed Spread Sheets, Pillowcases and Pillow Shams, Cushion Covers, Bed Canopies
· Kitchen Stuff: Table Cloths, Placemats, Napkins, Runners, Aprons
· Christmas Stuff: Tree Skirts, Stockings, Ornaments
· Curtains: Shower Curtains, Window Panels
· Kids Range: Bedding, Bumpers, Play Tents, Soft Toys
· Bags: Gift Bags, Wine Bottle Bags, Carry Bags, Packaging Bags.
Quality
They ensure quality services, timely delivery, on-time sampling to their customers with strict quality adherence. Employing the most effective and latest available technology with a customer centric approach; quality has become a tradition at Hafiz. There is a comprehensive and sophisticated system of quality control and strict vigil is maintained at every production stage. Regular inspections and thorough tests enable them to note any discrepancy and improve the shortcomings.
Strengths
· Their cost effective production techniques and streamlined production process ensure the customers of impeccable quality products at reasonable prices
· Their wide distribution network, excellent transport facilities and capacious warehouse ensure the customers of safe, smooth and prompt delivery of products
· Going by the trends, they boast of possessing the finest infrastructure and excellent team of qualified professionals to serve their customers at their best
· They nurture a team of experienced craftsmen who ensure to deliver the best in every piece of workmanship.
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.39.38 |
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UK Pound |
1 |
Rs.76.90 |
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Euro |
1 |
Rs.57.27 |
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 |
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/normal. |
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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