1. Summary Information
|
|
|
Country |
|
|
Company Name |
Avesta Exports |
Principal Name 1 |
Mr. Mahiyar Dastur |
|
Status |
Small Concern |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
# 8 |
||
|
Established Year |
2005 |
SIC Code |
-- |
|
Telephone# |
91-79-40076271 |
Business Style 1 |
Exporting |
|
Fax # |
91-79-40077378 |
Business Style 2 |
Importing |
|
Homepage |
Product Name 1 |
Food Products |
|
|
# of employees |
5 Approximately |
Product Name 2 |
Organic Garments |
|
Paid up capital |
Rs.500,000/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Bank of |
|
Public Limited Corp. |
-- |
Business Period |
6 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B (28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Avesta Technologies |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
3,000,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
2,500,000 |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
AVESTA EXPORTS |
|
|
|
|
Registered
Office : |
# 8 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 million |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Exporter and Importer of Commodities like Food Products, Organic
Garments etc. |
|
|
|
|
No. of Employees
: |
5 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small proprietory concern in its field. It’s scale of
activities are limited. Trade relations are reported as fair. Business is
active. Payments are reported to be slow. The concern can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Jitesh |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9898089183 |
|
Date : |
18.08.2011 |
LOCATIONS
|
Registered Office : |
# 8 |
|
Tel. No.: |
91-79-40076271 |
|
Mobile No.: |
91-9898089183 (Mr. Jitesh) |
|
Fax No.: |
91-79-40077378 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Mahiyar Dastur |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Jitesh |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of Commodities like Food Products, Organic
Garments etc. |
|
|
|
|
Exports : |
|
|
Products : |
Commodities |
|
Countries : |
·
US ·
·
European Countries ·
|
|
|
|
|
Imports : |
|
|
Products : |
Commodities |
|
Countries : |
All over world |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Cash |
|
|
|
|
Purchasing : |
L/C and Cash |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
|
|
|
|
No. of Employees : |
5 Approximately |
|
|
|
|
Bankers : |
Bank of Maharashtra, Ahmedabad, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pritesh Shah and Company Chartered Accountant |
|
Address : |
Ahmedabad, |
|
|
|
|
Associates/Subsidiaries : |
Avesta Technologies |
CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs.0.500 million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.500 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
3.000 |
2.500 |
The above information has been parted by Mr. Jitesh
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES
·
Vinas Engineer, Dehradun
·
Tejas Industries, Ahmedabad
WEB DETAILS
Profile
Established in year 2005 subject is
a merchant export company. Subject is promoted by a group of entrepreneurs
having a decade long experiences in sourcing and marketing industrial products.
Over this period of time they
have created a strong network of reliable suppliers and cultivated transparent
trust based relationships with them. This success has been an inspiration to
make them expand the vision globally.
All the suppliers are ISO
9001 certified and have at least a decade long experience in manufacturing
products in there respective segments.
Apart from supplying standard
equipments as listed in the catalogues, they also assist the customers in
designing and manufacturing customized products.
Located in Western State of
Gujarat they are close to major ports in the country, this locational advantage
helps them in providing quick turn around time to the customers.
Integrity, Transparency,
Ethics and Commitments have been four pillars of the success and would continue
to be so in the journey ahead....
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.77 |
|
|
1 |
Rs.75.58 |
|
Euro |
1 |
Rs.65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.