MIRA
INFORM REPORT
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Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
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Name : |
HUMAN HAIR IMPEX |
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Registered
Office : |
No. 9/1, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2009 |
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Capital
Investment/ Paid-up Capital: |
Rs.3.000 millions (approximately) |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and Exporter of Human Hair, Bulk Human Hair, Bleached
Hair, Machine weft, Curly Hair, Hair Extension, Tipped Hair, Wigs. |
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No. of
Employees: |
50 (approximately) (Office 15 + Factory 35) |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new proprietory concern establishing itself gradually. Trade
relations are reported as fair. Business is active. Payment terms are not
known. The concern can be considered for business dealings with some caution,
initially |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 : |
Mr. Abdullah |
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Designation : |
Manager |
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Contact No.: |
91-44-43855600 |
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Date : |
12.11.2011 |
LOCATIONS
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Registered Office : |
No. 9/1, Chandran Street, 7th Street, Teachers Colony,
Kodungaiyur, Chennai – 600118, Tamilnadu, India |
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Tel. No.: |
91-44-43855600 / 42814063 |
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Mobile No.: |
91-9094036667 (Mr Raja Mohammad), 91-9500078234 (Mr. Abdullah) |
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Fax No.: |
91-44-43855600 / 42814063 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Block No-2, Kodungaiyur, Chennai-600118, Tamilnadu, India |
SOLE PROPRIETOR
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Name : |
Mr. Raja Mohammad |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Abdullah |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Human Hair, Bulk Human Hair, Bleached
Hair, Machine weft, Curly Hair, Hair Extension, Tipped Hair, Wigs. |
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Products : |
·
Bulk Human Hair ·
Bleached Hair ·
Machine Weft ·
Curly Hair ·
Hair Extension ·
Tipped Hair ·
Wigs |
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Exports : |
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Products : |
Human Hair |
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Countries : |
·
France ·
Europe |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
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Customers : |
Juliet |
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Type of customer : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
50 (Approximately) (Office 15 + Factory 35) |
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Bankers : |
HSBC, 96, R.K. Salai, Mylapore, Chennai – 600004, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Pir Mohammad Chartered Accounatnt |
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Address : |
Chennai, Tamilnadu, India |
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Associates/Subsidiaries : |
·
Indian Human Hair, No.6, CSI Bain School Street,
2nd Block, Muthamizh Nagar, Kodungaiyur, Chennai – 600118,
Tamilnadu, India |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
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Capital Investment : |
|
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Owned : |
Rs.3.000 millions (approximately) |
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Borrowed : |
-- |
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Total : |
Rs.3.000 millions (approximately) |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (approximately) |
|
1.500 |
1.000 |
Expected Sales (2011-2012) : Rs.5.000 millions
The above information has been parted by Mr. Abdullah
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
reports |
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1) Year of
Establishment |
Yes |
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2) Locality of
the Firm |
Yes |
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3) Constitution
of the Firm |
Yes |
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4) Premises
Details |
Yes |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
Background |
--------- |
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8) No. of
Employees |
Yes |
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9) Name of
person contacted |
Yes |
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10) Designation
of contact person |
Yes |
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11) Turnover of
firm of last two year |
Yes |
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12)
Profitability for last three years |
---------- |
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13) Reasons for
variations <> 20% |
---------- |
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14) Estimation
for coming financial year |
Yes |
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15) Capital in
the business |
Yes |
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16) Details of
Sister concern |
Yes |
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17) Major
Suppliers |
No |
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18) Major
Customers |
Yes |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
Information |
--------- |
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22) Litigation
that the firm / promoter involved |
--------- |
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23) Banking
Details |
Yes |
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24) Banking
facility Details |
No |
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25) Conduct of
the banking account |
--------- |
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26) Buyer visit
details |
--------- |
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27) Financials,
if provided |
No |
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28)
Incorporation details, if applicable |
---------- |
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29) Last account
field at ROC |
---------- |
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30) Major
Shareholders, if available |
---------- |
TRADE REFERENCE:
·
Juliet
COMPANY PROFILE:
This firm was started in 2009 by Mr Raja Mohammad. Mr Raja Mohammad
already has a firm since 2000 in the name of Indian Human Hair and also is a
partner in another firm called Bravo Human hair in partnership with Mr M Akbar
Ali. Given below is a brief introduction about the parent company Indian Human
Hair.
INDIAN Human Hair birthplace is Chennai, one of the worlds greatest
fashion centers. Mr. Raja Mohammad, founder of INDIAN Human Hair, had set
himself the goal to develop a hair extension system as simple to use as cutting
or drying. When in 2001 he had developed and patented the Great Lengths
prirfc!iple he had simultaneously discovered the first method of thickening
thin and fine hair in a very simple way.
This invention set off a revolution in 2001 For the first time Mr. Raja
Mohammad could offer hair extensions and hair thickening in one system. INDIAN
Human Hair has become a sign of our times: men - and particularly women have
started preferring non aggressive technical solutions and natural products.
Since then they have been exporting human hair in the name of Indian Human
hair, Bravo Human hair. In this context Great Lengths has also been one step
ahead from the start: so far no other system has developed a similarly non
compromising technique of attaching additional strands to the customer’s own
hair It goes without saying that only 100% natural human hair of the highest
quality is used. It is, therefore, no wonder that INDIAN Human Hair should have
established itself on the worldwide market within a few years. They are
offering their services over world wide with increasing success. When business
really started improving, Mr Raja Mohammad started Human Hair Impex to deal in
exports alone.
Operations have not started in the new firm Human Hair Impex and shall
commence shortly Since the owner is already well versed in the export of Human
Hair, he expects good business in the new firm.
Though there is no way to assess the financial strength of the firm or
to check on the turnover, they have a good standing in the market and have been
exporting under various names to the tune of over
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.50.28 |
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|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.45 |
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 |
|
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 |
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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.