MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SARVESHWAR IMPEX |
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Registered Office : |
81, Santosh Sagar Colony, Brhampur, Jaipur – 302002, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2004 |
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IEC No.: |
*1305003497 |
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PAN No.: [Permanent
Account No.] |
ABOPG3475E |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Manufacturer and Exporter of Home Furnishing and Textiles |
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 7500 |
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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 has steady business. It can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Narshing Gupta |
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Designation : |
Proprietor |
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Date : |
26.09.2008 |
LOCATIONS
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Registered Office : |
81, Santosh Sagar Colony, Brhampur, Jaipur – 302002, Rajasthan, India |
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Tel. No.: |
91-141-2670278 |
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Mobile No.: |
91-9314682486 / 9887878700 |
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Fax No.: |
91-141-2609820 |
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E-Mail : |
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Area : |
3000 sq. ft.[Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Narshing Gupta |
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Designation : |
Proprietor [Chief Executive Officer] |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Home Furnishing and Textiles |
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Products : |
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Exports : |
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Products : |
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Countries : |
Japan, Australia, Canada and USA |
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Terms : |
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Selling : |
LC, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to
increase production by : |
50% |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
Bank of Baroda, Jaipur – 302002, Rajasthan, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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9.000 |
8.000 |
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Profit/Loss for the year |
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12 % |
12 % |
Expected Sales (2008-09) : Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
SARVESHWAR IMPEX |
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Address |
81, Santosh Sagar Colony, Brhampur, Jaipur – 302002, Rajasthan, India |
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Phone/ Mobile Numbers |
91-141-2670278 |
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Fax Numbers |
91-141-2609820 |
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Statutory
Approvals |
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Legal Status of Firm |
Proprietorship Company |
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Income Tax Registration |
ABOPG3475E |
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Import Export Code |
*1305003497 |
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Name of Bank |
Bank of Baroda, Jaipur – 302002, Rajasthan, India |
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Credibility
Factors |
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Years of Establishment |
*2004 |
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Turn Over |
Rs. 9.000 Millions |
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Turn Over Year |
*2008 |
As Per Website
Profile
Incepted in the year 1996, subject has acquired a reliable name in the sphere of manufacturing and exporting of an exquisite collection of home furnishing and textiles. Imparting an aesthetic look to the abode, their collection of lamp shades, bed cover, cushion cover, quilt, table cover and table runner redefines the style of home furnishing. Fabricating the range using supreme quality cotton, polyester, silk and other blended fabrics, they bring forth an excellent selection of styles and designs.
With the aid of a well built infrastructure they are able to undertake mass
scale production and deliver an exclusive collection at an affordable price.
Gaining support from a dedicated and proficient team of personnel, they have
successfully catered to the needs of the global market with promptness and
efficiency. Further, following a stringent quality regime helps them deliver
impeccable quality at par with the international standards.
Mr. Narshing Gupta, their mentor, has a wide experience of the home furnishing
industry, which is the reason they are able to effectively comprehend the
requirements of their clients and deliver them with an assortment that meets
their expectations. His sharp business acumen has helped them successfully
promote and market their collection in the global arena, including the markets
India, Japan, Australia, Canada and U.S.A.
Their effective understanding of
client preferences has enabled them to present a rich variety of home
furnishing textiles. Their range is crafted from premium quality cotton,
polyester, silk, and various other blended fabrics to make sure they deliver a
range of impeccable quality and style.
Their assortment of Bed Cover, Cushion Cover, Lamp, Quilt, Table Cover and
Table Runner has been widely appreciated owing to its distinctive style and
exclusive designs. Adding a touch of charm, warmth and comfort to the
interiors, their range of home furnishing textiles is designed and developed in
accordance to the discerning needs of their clients. Their adroit team of
designers and craftsmen optimize their creative abilities to create a
collection that makes an exclusive unification of décor and utility.
Refined and classic, their collection is widely cherished owing to the
following attributes:
• Long lasting
• Intricate embroidery
• Well stitched
• Distinctive style
• Easy to clean
• Resistant to stain
• Attractive designs and patterns
• Vivacious color schemes
• Wide aesthetic appeal
Further, working closely with clients enables them to comprehend the
differential taste and preferences of their wide client base and offer them
with customized solutions on the lines of size, design, color combination, raw
material used and option of embroidery. This gives them an opportunity to
choose a range that stands at par with their specific needs and preference.
They encourage them to give in their suggestions and sample drawings so that
they are able to accordingly fabricate the home furnishing range to their
orders.
Infrastructure
Infrastructure forms an essential
framework of the company as it determines the company’s capacity to meet the
client demands. They are proud to be a possessor of a modern and robust
infrastructure that spreads across a sprawling area with all the necessities
for creating an amiable and healthy working environment for their workforce.
Being well equipped with the requisite tools, machinery and equipment for
fabrication, they are able to meet the bourgeoning demand of the home textile
industry. With an efficient team for technical support, they are able to
constantly make necessary changes and up-gradations to cut down on their cost
of production so as to offer their range at competitive prices. The following
machines are installed to make sure that they can process the bulk orders
within the stipulate time frame:
• Printing machine
• High tech overflow machine
• Jet Dyeing machine
• Stitching machine
• Cutting machine
• Sewing machine
• Multi needle machine
• Embroidery machine
• Microprocessors
• Hydro extractors
Further, to give their fabrics a perfect finish, they have installed hi-tech
overflow and jet dyeing machines, controlled by microprocessors and
hydro-extractors. All the machines are duly maintained to make sure that they
function effectively, without perturbing the production process.
Clientele
Since inception, they have
continually worked towards offering a fresh and unique collection of home
furnishing and textiles. Working in tandem with the clients has enabled them to
offer a collection at par with client requirements and preferences.
They have received an overwhelming response from a wide client base spread
across the globe. Their consistency in performance is measured from the
satisfaction of their clients and thus they emphasize on maintaining highest
quality standards along side consistent dispatch, competitive pricing and
ethical business policies. They have received repeated business orders from
clients across the globe, especially from the following regions:
• India
• Japan
• Australia
• Canada
• U.S.A.
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.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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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