MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMSA EXPORTS |
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Registered Office : |
No. 14 Gowripuram East Extn, Karur- 639 002, Tamil Nadu |
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Country : |
India |
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Year of Establishment : |
2004 |
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IEC No.: |
IS3204002080 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA09057G |
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PAN No.: [Permanent
Account No.] |
AAJFA6773F |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Cotton Made ups, 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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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. |
LOCATIONS
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Registered Office/ Head Office/ Factory : |
No. 14 Gowripuram East Extn, Karur- 639 002, Tamil Nadu, India |
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Tel. No.: |
91-4324-248377 |
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Mobile No.: |
91-9843155029 |
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Fax No.: |
91-4324-248477 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.fts |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. R Pradeep |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.Sc |
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Experience : |
10 Years |
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Name : |
Mrs. S Amsaveni |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cotton Made ups, Home Furnishing and
Textiles |
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Products : |
· Bed Linen · Curtains · Cushion Covers · Fabric Baskets · Kitchen Linen · Napkins and Placemats · Designer Table Linen |
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Exports : |
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Countries : |
Panama , France, UK, Norway and Europe |
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Notes : |
Subject is currently exporting 100 % production |
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Terms : |
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Selling : |
L/C, DA, DP |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Suppliers : |
Jayanthi Dyeing, Karur, Tamil Nadu, India |
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Customers : |
Mayszonalibre SA, panama
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No. of Employees : |
10 (4 in Office and 6 in production)
+ Contract : About 15 |
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Bankers : |
Bank of India, Sengunthapuran, Karur, Tamil Nadu, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
Expected Sales (2008-09): Rs.50.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
AMSA EXPORTS |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AAJFA6773F |
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Central Sales Tax Registration |
231090 |
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TIN Registration |
33613681779 |
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Import Export Code |
IS3204002080 |
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Name of Bank |
Bank of India |
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Current account Number |
826430110000033 |
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Account Since |
2004 Onwards |
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Emp PF Reg Number |
Tntry44871 |
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Company ESI Reg Number |
63-24773-18 |
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Creditability Factors |
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India Mart Client Since |
Since 2 years |
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Trade Affiliations |
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SSI Registration |
33/14/05576/tmt/ssi
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Standards and Certifications |
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Quality Management Systems |
ISO RQ 91/3794 |
WEBSITE DETAILS:-
Concern Profile:-
Subject is an ISO
9001:2000 certified concern, is among leading manufacturers, exporters
and suppliers of a wide range of premium quality home textile products.
Designed from superior quality fabric, their range of products are sure to
infuse the decor with life and elegance. They offer bed linen, curtains, cushion covers, fruit baskets, kitchen sets,
placemat, table linen etc.
A professionally managed organization, Subject is a joint venture between Amsa
Industries and Namakkal Plastics, who are India’s leading mosquito net
manufacturers. Today, their turnover is 30 million USD and has achieved
memberships of prominent industry organizations such as AEPC, HEPC, and TEXPROCIL.
Committed to achieve excellence in their products and services, they bring a
new collection of textile home furnishings and decor accessories. They excel in
providing innovative solutions that consist of a fascinating range of products
in unique colors, exclusive prints, textures and styles.
Infrastructure Facilities
Their production facility is situated in southern part of India – Karur (Tamil Nadu), which is equipped with excellent manufacturing facilities. They have advance machines for stitching, juki (imported), lay cutting and more, which ensure production of only top quality textile home furnishings matching international quality standards. They also have advance testing equipment and dyeing machines for Vat, Procion and Azo-Free Dyeing.
Their production methods include handlooms, powerlooms and autolooms ranging
from 90 cms to 260 cms. Their
production capacity is 12000 meters fabric (approx) per day, which makes us
capable to meet the bulk requirements of their clients in time.
Quality
At the concern, quality is their top priority. To achieve this objective, they have adopted stringent quality control measures to ensure that the high standards of quality, which they have set for theirselves are maintained at different stages of production and supply. Their team of quality control experts maintains strict vigil on the quality of the products for the maximum satisfaction of their clients.
The various stages involved in their
Quality Control System include: -
· Raw material inspection
· Fabric stage inspection
· On line inspection
· Final inspection
Their quality control practices and procedures have been designed in manner so
as to ensure that the norms and requirements of ISO certification are duly met.
Workforce
Another major asset to their sophisticated production facilities is their team of skilled personnel who understand the requirements industry and their clients. The team constitutes of 50 permanent and 30 temporary staff, which includes skilled and semi-skilled employees with adequate experience and sound understanding of the industry.
Payment Terms
Committed to protect the interest of theirs as well as their clients, they accept payment in terms of Letter of Credit at Sight.
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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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