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MIRA
INFORM REPORT
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Report Date : |
01.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNET EXPORTS (INDIA) |
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Registered Office : |
26 – D, Khizrabad, New Friends Colony, New Delhi – 110065 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of an exclusive range of Hi-Fashion
Garments. |
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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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. 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. Kamal Kochar |
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Designation : |
Accountant Manager |
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Contact No.: |
91-9899682996 |
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Date : |
27.10.2008 |
LOCATIONS
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Registered Office : |
26 – D, Khizrabad, New Friends Colony, New Delhi – 110065, Delhi,
India |
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Tel. No.: |
91-11-26331174 / 26331273 |
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Mobile No.: |
91-9873228297 / 9811053197 / 9899682996 |
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Fax No.: |
91-11-26935216 |
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E-Mail : |
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Area : |
450 sq. mtr. |
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Location : |
Owned |
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Factory : |
D – 3, Hosiery Complex, Noida, Uttar Pradesh, India |
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Area : |
450 sq. mtr. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rajiv Arora |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 years |
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Qualification : |
B.Com. |
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Experience : |
15 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of an exclusive range of Hi-Fashion
Garments. |
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Products : |
·
Hi-Fashion Garments ·
Scarves ·
Stoles ·
Arafats ·
Foulards ·
Fashion Jewelry ·
Fashion Belts and Bijouterie ·
Leather Belts ·
Knitted and Woven Garments ·
All Kinds of other Accessories |
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Exports : |
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Products : |
·
Hi-Fashion Garments ·
Scarves ·
Stoles ·
Arafats ·
Foulards ·
Fashion Jewelry ·
Fashion Belts and Bijouterie ·
Leather Belts ·
Knitted and Woven Garments ·
All Kinds of other Accessories |
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Countries : |
·
Norway ·
England ·
Denmark ·
Holland ·
Belgium ·
European Countries |
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Terms : |
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Selling : |
L/C and Credit (30 days / 60 days / 90 days|) – T/T |
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Purchasing : |
Cash and Credit (60 days) |
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing (Purchase of raw material from open market) |
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Customers : |
·
I C Company, France ·
Wholesalers |
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No. of Employees : |
30 |
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Bankers : |
HDFC Bank Limited, New Friends Colony, New Delhi – 110065 |
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Facilities : |
- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ashok Bhartia and Associates Chartered Accountants |
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Address : |
New Delhi |
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Memberships : |
·
Apparel Export Promotion Council (AEPC) ·
Export Promotion Council for Handicrafts (EPCH) |
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Associates/Subsidiaries : |
Internet Merchandise Private Limited CIN: U5131DL2000PTC108279 |
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Registered
Office: |
26 – D, Khizrabad, New Friends Colony, New Delhi – 110065, Delhi,
India |
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Registered On: |
23.10.2000 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
NA |
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Borrowed : |
- |
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Total : |
NA |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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75.000 |
Expected Sales (2008-09) : Rs.100.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
References
·
I C Company, France
·
Kaffe Clothing 2004, Europe
Web
Details
Profile
Clothes and accessories have long
been associated with beauty and confidence. They have been the deciding
factor about an individual's personality. Subject presents a diverse range of such fashion defining clothes and
accessories that have set a trend in the fashion market. Established in 1996,
they are one of the manufacturers and
exporters of an exclusive range of Hi-Fashion Garments,
Scarves, Stoles, Arafats, Foulards, Fashion Jewelry, Fashion Belts and
Bijouterie, Leather Belts, Knitted and Woven Garments and All Kinds of Related
Accessories.
Made in exquisite designs and
patterns, these high profile fashion accessories have become a popular means of
enhancing one's personality. They produce about 80,000 pieces of fashion
garments and allied products in a month, and therefore are ready to meet every
kind of demand from the valued customers.
The company policy has always been
to provide the best quality products at reasonable prices to the customers. For
them, customer satisfaction is the means to a successful endeavor. Hence, they
try to deliver these products always on time to them. Infusing the products
with innovation and freshness remains our motto, and towards this goal, they
welcome the feedback and suggestions from the valued customers.
The fashion garments, scarves,
stoles, accessories and allied products are exported in various nations like
European nations like Norway, England, Denmark, Holland, Belgium and many
other countries, achieving a staggering export percentage of
100%. They are also
a respected member of the prestigious Apparel Export Promotion Council (AEPC) and Export
Promotion Council for Handicrafts (EPCH).
Quality Assurance
Subject, adhere to strict quality
control measures to deliver 100% flawless and error free products. Extremely
stringent quality checks at the factory ensure that the quality of the product
is as per the required international standards. The raw materials are scanned
and selected very careful, taking into account every minute aspect that will
contribute to the product quality. The complete manufacturing process is
carefully supervised a team of able quality control supervisors who make sure
that the final products like fashion garments, scarves, etc. are as per the
customer's expectation.
Infrastructure
An impeccable infrastructure of
subject is the reason behind the company's roaring success. They are equipped
with state of the art manufacturing facility with all the latest and cutting
edge machines. Various machines like sewing machines, looms, etc are installed
with the latest technology and are upgraded on a regular basis.
The team of creative
designers is professionally trained with a creative bent of mind. Their
fresh and appealing creations have been the cynosure of every fashion crazy
customer. Owing to a vast warehousing facility, they have been able to stock
huge amount of goods under good condition and meet all kinds of demands within
tight schedule.
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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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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
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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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