MIRA
INFORM REPORT
|
Report Date : |
29th
June, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
SUPER
TEX INDUSTRIES |
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|
|
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Registered Office : |
172,
Udyog Bhawan, Sonawala Road, Goregaon (East), Mumbai – 400 063, Maharashtra,
India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
Around
1988 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer
of Cots and Aprons for Textile Spinning Industry. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow
by average 60 Days |
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Litigation : |
Unknown |
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Comments : |
Mr.
Pradipkumar Pansari, a Managing Partner of the concern declined whatsoever
business and financial information. He was rough and rude. He appears to be
in difficulties, perhaps financials. No
information about his trade relations could be known. The concern’s payments
are slow. It can
be considered for small to mediocre business dealings with some caution, at
his stage. |
LOCATIONS
|
Registered Office : |
172,
Udyog Bhawan, Sonawala Road, Goregaon (East), Mumbai – 400 063, Maharashtra,
India. |
|
Tel. No.: |
91-22-26861015/
16/ 17 |
|
Fax No.: |
91-22-26861018 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory: |
363/1
(5A), Ganesh Industrial Estate, Daman – 396 210, India. |
|
Tel.
No.: |
91-260-2241248/
2242581 |
PARTNERS
|
Name : |
Mr.
Pradip Kumar Pansari |
|
Designation : |
Partners |
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|
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|
Name : |
Mr.
Jugal Kishore Pansari |
|
Designation : |
Partners |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Cots and Aprons for Textile Spinning Industry. |
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|
|
|
Imports from : |
Germany |
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Terms : |
|
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Selling : |
Cash
& Credit (30 – 60 Days) |
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Purchasing : |
Cash
& Credit (30 – 60 Days) |
GENERAL
INFORMATION
|
Customers : |
End
Users |
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No. of Employees : |
10 |
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Bankers : |
Union
Bank of India, Goregaon, Mumbai |
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Facilities : |
-- |
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Banking Relations : |
Unknown |
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|
Sister Concern: |
v
Yogesh
Dyestuft Products Private Limited v
Shri
Shyam Impex, Mumbai v
Supertex,
Mumbai |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
2.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 (Estimated) |
|
Sales Turnover |
|
|
20.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
References:
v
Buyer
AG
AS
PER WEBSITE:
About Us:
A Company floated by the
Pansari Group almost seven Years ago, it has already made its mark as a leading
manufacturer in INDIA of Cots & Aprons for the Textile Spinning
Industry.
In this short period of
time it has tripled its production, included almost all the well known Mills in
India as its customers & gone into the World Market. Super Tex is now a
name to be reckoned with in the Cot & Apron business, just as its sister
concern M/S YOGESH DYESTUFF PRODUCTS PVT. LTD, has been in the 'Acrylic
Dye' business for the last fifteen Years.
Super Tex has its very
Modern Production facilities at Daman, just over 100 kms from Mumbai, India.
Its Head Office is at Goregaon, Mumbai & it has a Network of over Forty
Agents situated all around the Globe.
At every stage of
manufacturing, control tests are performed by using modern instruments and test
methods. This is also backed by a team of highly experienced and foreign
qualified technologists.
The
strength of this Company has always been the Quality of its products & the
service to its customers. Due to this the Company has been going from strength
to strength and is scaling new heights every year.
SUPER TEX COTS
There is no such thing as a perfect
Cot. We, at Super Tex believe this and are constantly striving to provide an
optimum Cot. We are the first to introduce the SSD Cots, appropriately called
the SuperTex Spinners Delight. This is closest to the Aluminium Press Fit Cot,
and is at a fraction of its Cost. For clients who require the best, we supply
the Aluminium Press Fit Cots.
TYPE OF COTS
The conventional Plain Cot, which
is bonded with an adhesive
The
Springgrip or Easy fit type which does not require any adhesive for mounting.
The SSD Cot which apart from requiring no
adhesive for mounting, has got a minimum interference fit between the Cot and
Roller. The Cot runs stress free which means improved yarn quality. Unlike some
other types of Cots, with plastic insert, this is not affected by higher
temperatures
The
Aluminium Press Fit Cot (Alugrip Cot) which would be the obvious choice, if
cost is not a factor. For this reason, this is manufactured in sizes suitable
for High Speed Draw Frames, Speed Frames and Ring Frames.
All the above cots can
be supplied of the following hardness to meet your requirement or we could
formulate one to meet your special requirement.
|
SR.
NO. |
QUALITY |
MEAN
SHORE HARDNESS
|
COLOUR |
APPLICATION |
|
1. |
SGN -
65 |
65º |
DARK
GREEN |
FRONT
ROLLER COTS FOR COTTON SPINNING. COMBER DETACHING ROLLER COTS. |
|
2. |
SDB -
65 |
65º |
DARK
BLUE |
FRONT
ROLLER COTS FOR PROCESSING 100% FINE AND SUPER FINE COTTON. |
|
3. |
SLG -
70 |
70º |
LIGHT
GREY |
FRONT
& BACK ROLLER COTS FOR COTTON SPINNING. |
|
4. |
STN -
75 |
75º |
LIGHT
BROWN |
FRONT
ROLLER COTS FOR SYNTHETIC FIBRES AND ITS BLENDS. |
|
5. |
SRD -
83 |
83º |
RED |
FRONT
& BACK ROLLER COTS FOR ALL FIBRES. |
|
6. |
SGN -
85 |
85º |
GREEN |
FRONT
ROLLER COTS FOR SYNTHETIC FIBRES. |
|
7. |
STB -
85 |
85º |
GREENISH
BLUE |
SPECIALLY
FORMULATED FOR PROCESSING SYNTHETIC AND ACRYLIC FIBRES |
|
8. |
SYL -
90 |
90º |
YELLOW |
FRONT
& BACK ROLLER COTS FOR SYNTHETIC FIBRES INCLUDING ACRYLIC FIBRES. |
SUPER TEX APRONS
The Aprons are engineered
to excellent dimensional accuracy, non-stretchability, flexibility and optimum
frictional characteristics.
The Aprons have a Special
three layer construction, namely -
1. An abrasion resistant,
low friction inner layer.
2. A stabilising Cord central layer.
3. An oil resistant,
abrasion resistant and ozone resistant outer layer suitable for spinning.
These Characteristics make
the Super Tex Apron every spinners choice. Customers have a wide choice of
aprons to meet their particular needs.
|
QUALITY |
OUTSIDE |
INSIDE |
APPLICATION |
|
|
LGG -
4080 |
LIGHT
GREY |
GREY |
TOP
APRONS FOR ALL TYPES OF FIBRE. |
|
|
NSK |
GREY |
GREY |
SHORT
BOTTOM APRONS FOR ALL TYPES OF FIBRE |
|
|
BKG -
2080 |
BLACK |
GREY |
BOTTOM
APRONS FOR SKIVED TYPE ONLY. |
|
|
BKB -
2060 |
BLACK |
BROWN |
BOTTOM
APRONS FOR COTTON, SYNTHETIC, ACRYLIC, WOOLLEN & WORSTED FIBRES. |
|
|
LGB -
4060 |
LIGHT
GREY |
BROWN |
BOTTOM
APRONS FOR COTTON, ACRYLIC, WOOLLEN & WORSTED FIBRES AND BLENDS. |
|
|
SBC |
LIGHT
GREY |
GREEN |
TOP
& BOTTOM APRONS COTTON & BLENDS |
|
|
SBS |
LIGHT
BROWN |
GREEN |
TOP
APRONS FOR LONG STAPLE FIBRES SUCH AS WOOLLEN, ACRYLIC, CARPET YARNS AND
OTHER SYNTHETICS AND BLENDS. |
|
These Aprons are normally manufactured of 0.9, 1.27 and 1.4 wall thickness. Super Tex always believes in "Total customer satisfaction at any cost" and as such we would be happy to accommodate any request for a variation in these dimensions to suit clients specific requirement.
SUPER
TEX SKIVED APRONS
The importance of good
quality Skived Aprons to a Spinner cannot be over emphasized. Super Tex can
supply any of the above Aprons Skived. A properly joined Super Tex Skived Apron
will give as good results as an Endless Apron. Preglued aprons can also be
supplied in any of the above qualities.
SUPER TEX ALLIED PRODUCTS
Cots
& Aprons for Air Jet Spinning.
Draw
frame Cot
Clearer
Tubes for Draw Frames and Combers.
Gill Box Cots.
Cots and Aprons for Jute Industry.
Cordless Aprons for TFO
Cots for Open end Spinning.
Two Component Adhesive for Mounting cots.
Cots and Aprons for Woollen and Worsted Spinning.
SUPER TEX TEXTURISING COTS AND APRONS
|
COTS |
QUALITY |
MEAN
SHORE HARDNESS |
COLOUR |
APPLICATION |
|
|
SXP -
65 |
65º |
PINK |
A
SOFTER NIP ROLLER COT FOR HIGH SPEED TEXTURISING MACHINES. |
|
APRONS |
QUALITY |
OUTSIDE |
INSIDE |
APPLICATION |
|
|
TP -
1100 |
PINK |
PINK |
FOR
HIGH SPEED BARMAG MACHINES (TEXTURISING). |
|
|
MIT |
LIGHT
GREEN |
GREY |
FOR
HIGH SPEED MURATA MACHINES (TEXTURISING). |
|
|
TR -
5080 |
BROWN |
GREY |
FOR
MEDIUM SPEED BARMAG & ALL TYPES OF ARCT MACHINES (TEXTURISING). |
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.46.40 |
|
UK
Pound |
1 |
Rs.84.50 |
|
Euro |
1 |
Rs.58.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
|
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/normal. |
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 |