MIRA INFORM REPORT
|
Report Date : |
4th May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
DAWAR
FOOTWEAR INDUSTRIES |
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Registered Office : |
12.5
K. M. Near Bapu Asaram Ashram, Agra-Delhi Road, Sikandra, Agra – 282 007,
Uttar Pradesh, India |
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Country : |
India |
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Financials (as on) : |
31-03-2006 |
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Date of Incorporation : |
1977 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
AGRD10186B |
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PAN No.: (Permanent Account No.) |
AAAFD6003E |
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Legal Form : |
A
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturing
& Exporting of Shoes, Uppers (Footwear) |
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 |
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Maximum Credit Limit : |
USD 240000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
This
report is based on an interview with Mr. Anil Kumar Jain, Manager (Import -
Export) of the concern. Subject is a well established concern having
satisfactory track. Partners are reported as experienced, respectable and
having satisfactory means of their own. Their trade relations are fair.
Payments are correct and as per commitments. The concern can be considered
good for any normal business dealings at usual trade terms and conditions |
LOCATIONS
|
Registered Office/ Head
Office : |
12.5
K. M. Near Bapu Asaram Ashram, Agra-Delhi Road, Sikandra, Agra – 282 007,
Uttar Pradesh, India |
|
Tel. No.: |
91-562-2642801/28021003 |
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Fax No.: |
91-562-2642800 |
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E-Mail : |
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Website : |
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Area : |
13,442
Sq. yards |
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Location : |
Owned
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Factory 1 : |
Near
Bapu Asharam Ashram, 12.5 K. M. Agra – Delhi Road, Sikandra, Agra – 282 007,
Uttar Pradesh |
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Tel. No.: |
91-562-2642801/802/803 |
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Fax No.: |
91-562-2642800 |
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Factory 2 : |
Ladies Shoe Division Agra-Mathura
Road, Sikandra, Agra – 282007, Uttar Pradesh |
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Tel. No.: |
91-562-642801/2/3 |
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Mobile No.: |
91-9837065440/9837009414 |
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Fax No.: |
91-562-642800 |
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E-Mail : |
pdawar1@sancharnet.in |
PARTNERS
|
Name : |
Mr. Puran Chand Dawar (Son of
Late Mr. Lalchand Dawar) |
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Designation : |
Partner |
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Address : |
144,
Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
53
years |
|
Qualification : |
M.A.,
L.L.B. |
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Experience : |
27
years |
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|
|
|
Name : |
Mrs. Madhu Dawar (Wife of Mr.
Puran Dawar) |
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Designation : |
Partner |
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Address : |
144,
Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
50
years |
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Qualification : |
B.A. |
|
Experience : |
25
years |
KEY EXECUTIVES
|
Name : |
Mr. Puran Chand Dawar (Son
of Late Mr. Lalchand Dawar) |
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Designation : |
Chief Executive Officer |
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Address : |
144,
Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
53
years |
|
Qualification : |
M.A.,
L.L.B. |
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Experience : |
27
years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturing
& Exporting of Shoes, Uppers (Footwear) |
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Exports of : |
Ladies
& Gents leather shoes, boot & sandals |
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Exports to : |
Far
East European Countries, Scandinavia, North America, South Africa and
Australia |
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Imports of : |
Machineries
Soles and Heels |
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Imports from : |
Italy,
Germany and Slovenia |
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Terms : |
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Selling : |
CAD,
L/C and Advance Payment terms |
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Purchasing : |
L/C
(60 days) and CAD terms |
PRODUCTION STATUS
|
Particulars |
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Installed Capacity |
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Ladies Shoes |
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2400 Pairs / day |
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Men’s Shoes |
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2000 Pairs / day |
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Uppers |
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1000 Pairs / day |
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GENERAL INFORMATION
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Customers : |
Wholesalers
(Martlys/ Retailers). |
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No. of Employees : |
Factory
– 650, Office – 15 & Others – 35. Total – 700 |
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Bankers : |
Bank of India SSI Branch, Sanjay Palace,
Agra, Uttar Pradesh |
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Tel. No.: |
91-562-2354533 |
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Fax No.: |
91-562-2353527 |
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Banking Relations : |
Good
|
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Auditors : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Rs.
60.000 million |
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Borrowed : |
- |
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Total : |
Rs.
60.000 million |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
396.500 |
346.400 |
284.100 |
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LOCAL AGENCY FURTHER INFORMATION
Subject was established in
the year 1977 at Agra in Uttar Pradesh as a partnership concern.
This
firm was formed in 1981 but started functioning in 1987
Memberships :
·
Leather Export Promotion
Council, Agra, Uttar Pradesh
·
SSI Registration No.
20/01/010290/PMT/SSI/01
·
CLE – Registration No.
CLE/NLF/40268
·
Export House – 10780
·
National Chamber of
Industrial & Commercial UP. No. 650
The concern is in trade terms
with :-
\
Shroff Sales
Corporation, Hingla Mandir, Agra
\
AKS Global Private
Limited, Shop No. 34 & 20, Block No. 12, Shoe Market Complex Sanjay
Building, Agra
\
Boco Metallic
Industries, D-31, Sector 59, Noida, Uttar Pradesh
\
Nikhil Footwears Limited
\
Eskay Sales Corporation,
8/373, Prakarhwanti Place, Hingaki Mandi, Agra, Uttar Pradesh
\
Prachi Leathers Private
Limited, C-3 Udhyog Nagar, Kanpur, Uttar Predesh
\
Kaul Brothers, Opposite
Bhagrathi Dhaba, Agra – Mathura Road, Sikandra, Agra, Uttar PRedesh
\
Ligmargamma SRL., Via
Adriatica 91/93.63018 PORTO SANT ELPIDLO (AP) Italy
\
Mandial Plast SRL 62017
Porto Recanati MC, Italy
\
Sibil 2 SRL, ViA
Leonardo Davinci 39/41, 63021 Amando LA (AP), Italy
\
IPR SPA 620/2,
Civitanova Marche (MC) Italy
\
Pentthom B. V., Holland
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.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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
|
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 |