MIRA
INFORM REPORT
|
Report Date : |
29.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SIDDHARTH |
|
|
|
|
Registered Office : |
126 - 127, Vardhman Fashion Mall, Pitampura, Delhi-110 034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
27.11.2002 |
|
|
|
|
IEC No.: |
0502054301 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
Aarps8254c |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Women’s Wear, Fashion Accessories, Home
Decorations, Handicrafts and Statues. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Name : |
Mr. Satyapal Sharma |
|
Designation : |
Proprietor cum Chief Executive Officer |
|
Date : |
22.09.2008 |
LOCATIONS
|
Registered Office : |
126 - 127, Vardhman Fashion Mall, Pitampura, Delhi-110 034, India |
|
Tel. No.: |
91-11-27035059 / 64605060 |
|
Mobile No.: |
91-9810640804 |
|
Fax No.: |
91-11-27035060 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
600 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
87, Pratap Enclave, Mohan Garden, New Delhi – 110 059, India |
|
Area : |
450 Sq.Mtrs |
|
Location : |
Owned |
|
|
|
|
Branch 1 : |
Mercury House, Shipstones Business Centre, Northgate, New Basford
Nottingham, NG 7, 7 FN, United Kingdom |
|
Tel. No.: |
+ 44 845 863 0820 (Ms. Julie Campbell) |
|
Fax No.: |
+ 44 (0) 845 450 7317 |
|
|
United State of America |
|
Toll Free Phone No.: |
1800 789 0868 |
|
Tel No.: |
+ 1 213 596 7808 |
|
Fax No.: |
+ 1 213 596 7800 |
|
|
|
|
Branch 2 : |
140 Av albert Thomas,
81140 Carmaux , France |
|
Tel No.: |
+ 33.5.63.36.59.74 (Mr. Serge
Bernard) |
|
Fax No.: |
+33.5.63.36.95.61 |
SOLE PROPRIETOR
|
Name : |
Mr. Satyapal Sharma |
|
Designation : |
Proprietor cum Chief Executive Officer |
|
Age : |
44 years |
|
Qualification : |
LLB |
|
Experience : |
21 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Women’s Wear, Fashion Accessories, Home
Decorations, Handicrafts and Statues. |
|
|
|
|
Products : |
· T Shirts · Polo Shirts · Caps · Hats · Pens · Fine Writing Instruments · Note Pads Umbrellas and Mugs · Bags · Belts · Footwears · Jewelry · Pareos · Scarves · Shawls |
|
|
|
|
Brand Names : |
“ Siddharth “ |
|
|
|
|
Exports : |
|
|
Products : |
· T Shirts · Polo Shirts · Caps · Hats · Pens · Fine Writing Instruments · Note Pads Umbrellas and Mugs · Bags · Belts, etc |
|
Countries : |
All over the world |
|
|
|
|
Terms : |
|
|
Selling : |
LC, Cash, Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
|
Suppliers : |
Own manufacturing |
|
|
|
|
No. of Employees : |
250 (According to Mr. Satyapal Sharma) 70 (According to our Trade relations and observation) |
|
|
|
|
Bankers : |
Bank of India, C. Place, New Delhi – 110 001, India |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 3.000 millions |
|
Borrowed : |
---- |
|
Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
20.000 |
18.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12% |
12% |
|
|
|
|
|
|
Export Value |
|
100% |
NA |
Expected Sales (2008-09): Rs.30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Detail |
|
Existence Verification |
|
|
Name |
SIDDHARTH |
|
Address |
126 - 127, Vardhman Fashion Mall, Pitampura, Delhi-110 034, India |
|
Phone / Mobile Numbers |
91-11-27035059 / 64605060 |
|
Fax Number |
91-11-27035060 |
|
Electricity Bill |
|
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Proprietorship Firm |
|
Income Tax Registration |
AARPS8254C |
|
Central Sales Tax Registration |
|
|
State Sales Tax registration |
|
|
VAT / TIN Registration |
|
|
Excise Registration |
|
|
Import Export Code |
*0502054301 |
|
Name of Bank |
Bank of India, C. Place, New Delhi – 110
001, India |
|
|
|
|
Creditability Factors |
|
|
Years of Establishment |
2002 |
WEBSITE DETAILS:-
Concern Profile :
The concern is a leading and trusted source in the world of exclusive and innovative custom imprinted promotional items for corporate logo branding, business promotional items, trade show giveaways, corporate clothings and business promotional gifts. Custom logo items including business bags, promotional T shirts, polo shirts, caps, hats, pens, fine writing instruments, note pads, umbrellas and mugs are just a few of the many promotion items, products, gifts and giveaways they have available with the corporate logo custom imprinted.
Browse their selection of promotional merchandise expecting to find a generous selection at reasonable prices. Known for excellence and precision in design, they have been serving some of the most prestigious Businesses, Governments, Schools and Organizations Worldwide. Since their inception in 2002,their sole aim throughout has been to provide their customers with highest quality products and world class services on very reasonable prices. The concern functions as an extension of each client's sales force and marketing program. They strive to help their clients reinforce their value proposition and translate the intangibles.
Subject is Manufacturers and Exporters
of Womens wear, Fashion Accessories, Home Decorations, Handicrafts and Statues
Since their inception, they have established their selves as a name that
people identify as "Trend Setters". They strive to stay
connected to the fashion Industry by constantly researching the market for
changing trends. They carry a relatively large selection of the latest womens
wear, ladies wear and fashion accessories. Their exquisite range of
fashion accessories includes Bags, Belts, Footwears, Jewelry, Pareos,
Scarves, Shawls etc. Using cutting-edge technology, they are a leading, well
known and established name for their exclusive and innovative creativity
in their collections of Home Decorations, Handicrafts and Statues. Their main
aspiration, since their inception, has been to provide their esteemed
clients with elegant and stylish products. They pride their selves as the
epitome of fine designing and innovative craftsmanship.
Their constant dedication and commitment to serve customers with
latest products has helped them establish their selves as the
"trusted brand name" on a global scale. They have a team of skilled
craftsmen who are completely devoted to the purpose of exclusive and innovative
design skills and bring the unique designs each time. Every
detail of design is crafted in a manner to serve with complete customer
satisfaction with absolutely no compromise in terms of quality and simply best and of a kind product.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.43 |
|
UK Pound |
1 |
Rs.85.38 |
|
Euro |
1 |
Rs.67.95 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|