MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MASSIVE MANTRA FASHION EXPORTS PRIVATE LIMITED |
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Registered Office : |
103, 69, Madhyam Margarwal Form, Mansrover, Jaipur-302022, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.03.2006 |
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Com. Reg. No.: |
22303 |
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CIN No.: [Company
Identification No.] |
U74994RJ2006PTC022303 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRM04408F |
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PAN No.: [Permanent
Account No.] |
AAECM6458P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Hi fashion Ladies, Men’s, winter wear, hosiery,
furnishing, handycraft items and furniture intems. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4800 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown company. It’s payments are reported as
slow but correct. Trade relations are fair. It can be considered for small business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Monika |
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Designation : |
Director |
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Contact No.: |
91-9887482434 |
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Date : |
28.08.2008 |
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Name : |
Mr. Pratap |
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Designation : |
Account Manager |
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Contact No.: |
91-9252632284 |
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Date : |
28.08.2008 |
LOCATIONS
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Registered Office : |
103, 69, Madhyam Margarwal Form, Mansrover, Jaipur-302022, Rajasthan,
India |
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Tel. No.: |
91-141-2770108 |
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Mobile No.: |
91-935228500/ 9352228800/ 9352228200 |
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E-Mail : |
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Website : |
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Office cum Workshop : |
G1-550, Sitapura Industrial Area, Phase II, Tonk Road, Jaipur-302022,
Rajasthan, India |
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Tel. No.: |
91-141-2770109/ 2770110 |
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Fax No.: |
91-141-2770108 |
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Mobile No.: |
91-9352228500/ 9352228800/ 9350008200 |
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E-Mail : |
merchandiser@massivemantra.com |
DIRECTORS
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Name : |
Mr. Ashok Kumar Khanna |
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Designation : |
Director |
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Address : |
Shop No. 11, Shri Ram Electricals, Sector -9, Agarwal Farm,
Mansarovar, Jaipur-302020, Rajasthan, India |
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Date of Birth/Age : |
07.11.1947 |
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Date of Appointment : |
09.07.2007 |
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Name : |
Mr. Naresh Joshi |
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Designation : |
Director |
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Address : |
4/273, SFS, Mansarovar, Jaipur-302020, Rajasthan, India |
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Date of Birth/Age : |
55 Years |
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Mobile No. : |
91-9829064435 |
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Name : |
Ms. Monika Bose |
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Designation : |
Director |
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Address : |
91/3 Mansoravar, Jaipur-302020, Rajasthan, India |
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Date of Birth/Age : |
36 years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
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Mobile No. : |
91-9887482434 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 03.01.2007
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List of Allottees |
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No. of Shares Allotted |
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Naresh Kumar Joshi |
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30000 |
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Nikhil Joshi |
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5000 |
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Swapn Bose |
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20000 |
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Monica Bose |
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5000 |
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Total |
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60000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Hi fashion Ladies, Men’s, winter wear, hosiery,
furnishing, handycraft items and furniture intems. |
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Exports : |
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Products : |
Hi Fashion wear for ladies, Men, kids wear |
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Countries : |
USA, Germany and U.K |
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Terms : |
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Selling : |
L/C, 100% Exports |
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Purchasing : |
Cash and Credit ( 30-60-90 Days) 70% Cash 30% Credit |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
100 (Office 25, Factory 75) |
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Bankers : |
HSBC Bank, C Scheme, Sardar Patel Nagar |
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Auditors : |
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Name : |
Sanjay Pramod and Associates Chartered Accountant |
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Address : |
110, Saraogi Mansion, M.I. Road, Jaipur-302018, Rajasthan, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.750 |
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2] Share Application Money |
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0.200 |
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3] Reserves & Surplus |
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0.012 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.962 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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1.360 |
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TOTAL BORROWING |
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1.360 |
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DEFERRED TAX LIABILITIES |
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0.037 |
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TOTAL |
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2.359 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.197 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.080 |
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Sundry Debtors |
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1.121 |
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Cash & Bank Balances |
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0.096 |
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Other Current Assets |
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0.058 |
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Loans & Advances |
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0.101 |
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Total
Current Assets |
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1.456 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.326 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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1.326 |
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Net Current Assets |
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0.130 |
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MISCELLANEOUS EXPENSES |
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0.032 |
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TOTAL |
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2.359 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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8.000 |
Expected Sales (2008-09) : Rs. 80.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.79 |
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Current Ratio (Current Asset/Current Liability) |
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1.09 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AAECM6458P |
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Central Sales Tax Registration |
08131762777 – C |
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VAT/ TIN Registration |
08131762777- V |
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Name of Bank |
HSBC Bank |
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Current Account Number |
127130334001 |
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Account Since |
2008 April |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Years of Establishment |
2006 |
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Turn Over |
07, 08 ( Rs. 8.000 Millions) |
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Turn Over Year |
08, 09 (Rs 80.000 Millions) |
AS PER WEBSITE
Corporate Profile:
They have achieved lots of success in the competitive scenario of domestic as well
as the international market. The commendable success has been possible owing to
their commitment to match the customer choice & suitability and provide
them impeccable creations to match their joy forever.
Fashion means STYLE, & for some it's like achieving the eternal pleasures
of timeless beauty of life. Their passion for creating something
extraordinarily new & innovative is markly reflected in the designs &
patterns of the garments delivered by us.
Outlining with the Indian traditions and exclusively spotting the Rajasthan’s
unbeatable Colorful & impressive patterns of BANDHEJ & BATIK creations
they deliver excellent variety of designs to catch the heart.
The spectrum of products manufactured and exported by us comprises of :-
Ladies Fashion Wear~ Toppers, Skirts, Scarf,
Ladies Traditional Wear~ Langhas, Salwar Suits, kurti etc.
Men’s Fashion Wear~ Shirts, Trousers, Jeans, Etc.
Kids Fashion Wear~ Baba Suits, Baby Frocks, etc.
Winter Wear~ Pullovers, Cardigans, etc.
Hosiery~ T-Shirts, Lowers, Night Wears, Sports Wear, etc.
Furnishings ~ Curtains, Sofa Cover, Table Cover, Cushion Cover, Mason Cover,
Bed Cover, Bed Sheets, Pillow Cover, Quilt etc.
Handicrafts ~ Wooden Show pieces, Mirror work items, lac items, etc.
Furniture . All types of Stylish and Comfortable Wooden & Leather
Furniture.
They not only create our own collection but are open and always welcome to
develop the personal collection of the customer.
Infrastructure:
Their Export House covers, 20000 sq. feet of covered area & layman
of 1100 sq mts of factory area, located in Jaipur, which is fully equipped with
Hi tech technology of machines which includes the latest specialized machines
for finishing & processing such as chain stitched single needle machine,
over lock, button hole, flat lock, rib cutter, batik, feed up arm, cutting
machine, embroidery machine, etc .They have a production capacity of 60,000
pieces per month approx. of garments & hosiery as a whole.
Their highly professional & technically qualified people work round the clock
to bring out the very best products in terms of quality & durability,
keeping pace with the minute changing trends & style.
With their successful endeavor to meet the specifications of their clients they
even take conscious efforts regarding the execution of safety norms & a
clean working environment to their disciplined, trained & motivated
professionals & for the social cause they strictly prohibits Child Labour.
To mark their glory, they have achieved a high profile success rate in
the last financial year and to up rise with the same their targeted current
financial year turnover is 50.000 Millions.
Products:
High in quality, their range of products have been fabricated from
premium quality fabrics. Innovative in designs and reflecting the contemporary
trends, their collection is loved and demanded by women of all ages. Their
stylish and trendy collection incorporates:
Printed Tunic:
They offer a wide range of printed tunics at best economical prices.
Featured with vibrant colors and cuts, each of their printed tunic apparels is
tailored in accordance to clients' requirements. Elegantly designed to
complement different personalities and generation, they have the ability to
retain its color even after multiple washing.
Embroidered Skirt:
They provide an elegant range of embroidered skirts that come in varied
sizes and shapes. Embellished with sequins and beads, their ranges of skirts
have been embroidered by expert artisans. The beautiful designs and unique
embroidery of these skirts have made them quite popular amongst the college
goers.
Halter Neckline
Top with Goregeous Skirt:
They offer a wide variety of halter neckline tops along with gorgeous
skirts. The vibrant color combinations of the tops and skirts give them a
trendy and stylish look. They have made these apparels from high quality raw
materials and have designed them considering the latest trends in the mind.
Short Tunic:
Beautiful lace work and usage of soft fabric has made their range of
short tunic apparels quite popular in the market. Ranging from the ravishing
colors to the soothing ones, their products are perfect paradigm of their
artistic brilliance.
Frilled Wrap Top:
They offer a wide variety of frilled wrap top that are stitched from
high quality fabrics like cotton, silk, etc. These tops have artistically
crafted necklines and have been beautifully decorated with laces. These tops
are available in various sizes to suit the different individuals.
Flower Printed
Tunic:
Blending the contemporary designs with their artistry, they have
designed a colorful range of flower printed tunics. Soft fabric, stylish
designs and durable stitching of these tunics have made these apparels a
favorite of the modern women. Their flower printed tunics are available in
various floral prints in mesmerizing colors and are available in various sizes.
Stylish and comfortable, their ranges of frill top skirts come in sets.
These skirt and tops have been designed by their brilliant designers and are
stitched to perfection. The frills on the tops and the skirts give the wearer a
feminine and elegant look. Available in variegated designs, these tops and
skirts are available in various sizes.
Embroidered Silk
Skirt and Top:
They design and offer an exotic array of embroidered silk skirts and
tops. These skirts and tops are intricately embroidered by their adroit
craftsmen. They bring their products in a variety of sizes and colors that
complement the mood of the wearer. Their embroidered silk skirts and tops are
made from high quality silk fabric and give a classy look.
Tie Dye Skirt:
They bring for their esteemed clients an alluring range of tie-dye
skirts that lend a traditional touch. Embellished with mirror work, these
skirts have been dyed in attractive colors and patterns to suit the varied
tastes of the clients from across the world. Using high quality color and
modern dying techniques, they present a range that comes in all the standard
sizes.
Long Top With Long
Skirt:
Embellished with beads and sequins in
intricate manner, their elegant array of long tops with long skirts is
available in a variety of sizes. These tops and skirts are stitched from
premium quality fabrics and are available in different sizes.
Embroidered Silk
Top with long Skirt:
They present an unmatched range of embroidered silk tops with long
skirts that come in a plethora of colors and designs. These silk tops have been
embroidered with simple but elegant resham work. The long skirts with these
tops complement the wearer and can be worn on any occasions.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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
|
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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