MIRA
INFORM REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KANYA BEAUTY SALON |
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Registered
Office : |
46/1 R A Puram, Chennai-600028, Tamil Nadu |
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Country : |
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Financial As On
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31.03.2010 |
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Year of
Establishment : |
1981 |
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TIN No.: |
33490781739 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business
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Owners of beauty parlors for body care, skin care, hair care. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed proprietory concern having
satisfactory track. Trade relations are reported as fair. Business is active.
Payments are reported to be correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Miss Vandana |
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Designation : |
Accountant |
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Contact No.: |
91-44-28111446 |
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Date : |
28.03.2011 |
LOCATIONS
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Registered Office : |
46/1 R A Puram, Chennai-600028, Tamil Nadu, India |
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Tel. No.: |
91-44-24362095 / 28330508 |
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E-Mail : |
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Website : |
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Head Office : |
114 Old No.86, Shop 12, Mylapore, Chennai-600004, Tamil Nadu, India |
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Branches : |
·
No.12, Plot 28/A, Second Avenue, Besant Nagar,
Chennai-600090, Tamil Nadu, India ·
12, Arti Arcade, 86 Dr Radhakrishnanan Road,
Mylapore, Chennai-600004, Tamil Nadu, India ·
RBN Towers, Plot 2492, AK Block, Second Floor, 4th
Avenue, Shanthi Colony, Anna Nagar, Cheenai-600040, Tamil Nadu, India ·
11/26 Chellammmal Complex, Pondy Bazaar, Tnagar,
Chennai-600017, Tamil Nadu, India ·
4 Luz Ginza, Shanthi Vihar Complex, 140,
Royapettah High Road, Chennai-600014, Tamil Nadu, India ·
116, Koramangala Indutrial Layout-560095 o
Tel No.:91-80-51104406 ·
Magnolia, 36, Vittal Mallya Road, Banglore, India o
Tel No. : 91-80-41329100 / 9200 / 9202 o
Email : Bangalore@bouncehere.com ·
19, Oryza Outlet, Lavelle Road, Banglore-560001,
India |
SOLE PROPRIETOR
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Name : |
Mrs. Latha C Mohan |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Miss Vandana |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Owners of beauty parlors for body care, skin care, hair care. |
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Products : |
·
Body treatment, body contouring, body polishing,
had and feet massage, stress related treatment, acne treatment, anti aging
treatment, ayurvedic treatment, bleaching, bridal make up. Eye brow
treatment, facial treatment, fruit treatment, herbal treatment, lifting and
toning, manicure, mehendi application, mole cutting, pedicure, pigmentation,
skin polishing, under eye treatment, unwanted hair removal, waxing ·
Hair Care- anti graying treatment, blow dry hair
styling, hair cutting, crimping, curls, straightening, scalp treatment etc. ·
Spas – body massages |
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Agencies Held : |
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L’oreal ·
Habibs |
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Imports : |
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Products : |
Beauty Care Products |
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Countries : |
Europe |
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GENERAL INFORMATION
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Bankers : |
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ICICI Bank, Chennai Branch, Tamil Nadu, India ·
Indian Overseas Bank, Chennai Branch, Tamil Nadu,
India |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Sister Concern : |
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Oryza This is the first unique concept of rejunevation day spa for men and
women in the city of Chennai. The treatment done here are a exotic
combination of oriental and Europe techniques. Oryza Rejuvenation Spa provides
a serene and truly unforgettable experience of pure pampering and relaxation
in exquisitely beautiful surroundings, using holistic therapies and massages
which combine the very best of Eastern and Western practices Address : # 123, Ispahani Centre, Nungambakkam High Road,
Cheenai-600041, Tamil Nadu, India Tel No : 91-44-28330508 / 09 Email : mail@bouncehere.com ·
Bounce Style Lounge This is a unisex salon spread over 2000 sq. ft. to bring out the
latest trends in hair styling. They also offer hair coloring, perming, hair
extensions and all other hair related services. The area is spacious,
minimalist, functional well planned and smells delightful. Stylists each with
their own unique style and edge shower you with personalized attention, all
adding up to the most exceedingly satisfactory of services. A glorious
selection of the finest hair products and mini spa therapies, complete the
experience and furthermore being accessible from almost anywhere. Great
service and good taste- are the factors that really matter and Bounce has a
true excess of both. Address : 46/1 R A Puram, Chennai-600028, Tamil Nadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover (Approximately) |
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500.000 |
LOCAL AGENCY FURTHER INFORMATION
Profile
Kanya, Bounce,
Oryza, Cut-it-Out, Bounce Style Academy-they all changed the way Chennai,
looked. And it started with Latha C. Mohan, who redefined the beauty parlour
culture in the city and changed the way Chennai's women looked. With her
husband travelling a lot and her son a little older, she opened up the first
Kanya in Mylapore in 1981 with a team of four. Although she didn't have formal
training she did enroll in the Women's Polytechnic to help understand the
business.
Kanya Beauty Salon
with a well established team of beauty and skin care experts, have been in the
personal appearances segment for the last 30 years. The story of Kanya is
essentially the story of Mrs Latha C Mohan who has painstakingly built the
chain of personal appearances outlets from a single outlet in 1981 to 9 outlets
in the city today. The undying commitment to quality services to their
customers and non comprising attitude towards the use of quality products has
buoyed them into a multi outlet chain in Chennai and one flagship salon In
Bangalore. Kanya, has slowly buit strongly catapulted itself into the city's
most preferred skin and hair care destination
The proprietor Mrs
Latha C Mohan has done a course in Singapore's prestigious Pivot Point beauty
College and other qualifications from premier beauty schools. Her children have
joined the bandwagon and they have their unisex hair salon in the city which
the top cinema actors visit presently. An expert in hairdressing, beauty and
nail technology, she changed Chennai's perceptions towards grooming. Her
enthusiasm has rubbed off on clients as well, several of whom have started
beauty businesses of their own. Mohan's dedication has helped her stay ahead of
the curve, and two decades after the founding of Kanya, she launched India's
first style lounge Bounce, followed by the city's first day spa Oryza. Says
Mohan, "They introduced the concept of a unisex salon in its truest sense
when other salons were only toying with the idea." Bounce is a youthful
and trendy salon that was conceptualized by Mohan's children, Vikram and
Prarthana Mohan.
Trained at reputed schools like Vidal Sassoon, Toni and Guy and Saks, the duo
have assembled a team of experts from the UK, Sri Lanka and India to create a
style lounge with a distinct presence in Chennai and Bangalore The group has a
turnover of over 500.000 millions annually and is expanding fast.
From the news
Papers about Kanya
Kanya, Bounce,
Oryza, Cut-it-Out, Bounce Style Academy-they all changed the way Chennai,
looked. And it started with Latha C. Mohan, who redefined the beauty parlour
culture in the city and changed the way Chennai's women looked. With her
husband travelling a lot and her son a little older, she opened up the first
Kanya in Mylapore in 1981 with a team of four. Although she didn't have formal
training she did enroll in the Women's Polytechnic to help understand the
business.
Mohan's children,
Vikram and Prarthana, also got into the business and they started Bounce, a
unisex premium salon that Chennai's jet-set frequent. They also set up the
Bounce Style Academy to provide training for hair stylists, and from where they
take students to work at their Cut-it-Out salon. Latha also brought in a day spa,
Oryza to the city, the first of its kind in Chennai. Mohan feels the biggest
problem with people in Chennai and the
south is their
obsession with fair skin.
"They have a
huge complex about dark skin and, till today, face whitening is the most
popular service in all the salons," explains Mohan. "I personally
think that dark, dusky skin looks wonderful and there are so many beautiful
women out their who have dark skin, but people here think fair is
beautiful." She often find herself advising clients against frequent
bleaching as it deadens the skins.
Being a pioneer in
the beauty business by giving Chennai a facelift, Mohan has changed the way the
city feels about beauty. “They are not providing a product but a service,
therefore skill is required, something which has dropped in the past few years.
“ Their training academy aims at creating quality stylists and technicians
skilled in the art of beauty. She has extended salon and spa services to men
and women and with the focus on quality, they can surely expect the city to
only get more beautiful.
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.44.78 |
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|
1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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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 |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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49 |
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 |
|
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 |
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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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.