MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SUZUKI SUITINGS PRIVATE LIMITED |
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Registered Office : |
34, Shreeji Cloth Market, Near Meghdoot Hotel, O/S Sarangpur Gate,
Ahmedabad – 380002, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.10.1987 |
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Com. Reg. No.: |
04-10102 |
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CIN No.: [Company
Identification No.] |
U17119GJ1987PTC010102 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMS03022F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of readymade garments and woven fabric. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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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Maximum Credit Limit : |
-- |
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Status : |
Satisfactory |
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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 company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported as
usually correct and as per commitments.
The company can be considered normal for business dealings at usual
trade terms and conditions. Mr. Rajesh of the company parted with some general information but
declined to part with financials. Company’s financial are missing from the
Government Departments. |
LOCATIONS
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Registered Office / Factory : |
34, Shreeji Cloth Market, Near Meghdoot Hotel, O/S Sarangpur Gate,
Ahmedabad – 380002, Gujarat, India |
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Tel. No.: |
91-79-2171850 / 2171852 |
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Mobile No.: |
91-9825320391 / 9327027601 / 9327080600 |
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Fax No.: |
91-79-22171851 |
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E-Mail : |
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Website : |
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Branch office : |
Located at : Chhatral |
DIRECTORS
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Name : |
Mr. Arun Parasurampuria |
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Designation : |
Director |
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Address : |
B/82, 83, Om Towes, Near FCI Godown, Ghoda Camp Road, Shahibaug,
Ahmedabad – 380004, Gujarat, India |
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Date of Appointment : |
29.10.1987 |
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Name : |
Mrs. Bhavna Parasrampuria |
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Designation : |
Director |
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Address : |
B/82, 83, Om Towes, Near FCI Godown, Ghoda Camp Road, Shahibaug,
Ahmedabad – 380004, Gujarat, India |
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Date of Appointment : |
10.05.1989 |
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Name : |
Ms. Bimladevi Parasurampuria |
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Designation : |
Director |
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Address : |
B/82, 83, Om Towes, Near FCI Godown, Ghoda Camp Road, Shahibaug,
Ahmedabad – 380004, Gujarat, India |
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Date of Appointment : |
29.10.1987 |
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Name : |
Mr. B. L. Parasurampuria |
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Designation : |
Director |
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Address : |
B/82, 83, Om Towes, Near FCI Godown, Ghoda Camp Road, Shahibaug,
Ahmedabad – 380004, Gujarat, India |
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Date of Appointment : |
29.10.1987 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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B. L. Parasurampuria |
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5400 |
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Arun Parasurampuria |
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1050 |
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Bimladevi Parasurampuria |
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1950 |
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Bhavna Parasrampuria |
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2000 |
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Arun Stock Private Limited |
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3000 |
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Sumangali Abrics Private Limited |
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500 |
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Kirandevi Parasurampuria |
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1150 |
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Sunilkumar Parasurampuria |
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650 |
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Sangeeta Parasurampuria |
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550 |
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M P Podar |
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500 |
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Dinesh Podar |
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500 |
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Kishore |
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500 |
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Ramotar Parasurampuria |
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500 |
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M K Agarwal |
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400 |
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Sushilkumar Parasurampuria |
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300 |
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Bina Podar |
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300 |
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Kamalkumar Parasurampuria |
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250 |
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Sanjaykumar Parasurampuria |
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200 |
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Pramodkumar Parasurampuria |
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100 |
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Others |
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200 |
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Total |
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20000 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of readymade garments and woven fabric. |
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Products : |
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Terms : |
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Selling : |
Credit [30-60 days] |
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Purchasing : |
Credit [30-60 days] |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
200 |
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Bankers : |
HDFC Bank, Ahmedabad [Various Facility] |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lunia and Company Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
Rajesh Suitings Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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220.000 |
180.000 |
Expected Sales (2007-08) : Rs.250.000 Millions
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile
As a leading manufacturer of ready made garments and woven fabric, they have earned a huge recognition both in the national and international markets. They are also a sourcing agent and offer a distinct collection of high quality customized products in alluring patterns and colors. They have a well proven track record of 20 years which has given them immense experience and exposure.
They are backed by a dedicated workforce consisting of skilled workers,
production/quality supervisors who have an eagle's eye and work hand in hand to
achieve the targets set out by the company. Their product quality, customer
management system and on-schedule deliveries have helped them to emerge as the
indubitable winner of the industry. Special attention is paid to select and
source the right quality of raw materials that meet the international quality
standards to satisfy the huge demands of their client's.
Quality
Their fabrics are woven using finest quality yarns sourced from the best vendors in the Indian market. Their products are manufactured under strict quality control and this system is followed meticulously and regularly by their team that maintains the quality at every stage of production. It makes their products durable and cost effective. Raw materials, in-process specification, pre dispatch specification, conformation to customer specification everything falls within the purview of their quality system.
The most modern laboratories have made it possible for them to implement the
stringent quality norms. They have a team of quality experts who monitor every
stage of production starting from procurement and cutting of fabrics to
stitching and finishing. This is done under set international quality standards
in order to stand at par with the competition in the global markets.
Infrastructure
Latest state-of-the-art electronic circular knitting machines of reputed world class manufacturers are installed at their production premises. They have the versatility to manufacture different type of fabrics such as: polyester/cotton blended yarn, cotton yarn. They are empowered with both technology and manpower to cater to all kinds of challenging market/industry requirements. Their production capacity includes a mix of auto shuttle change looms and shuttle less rapier weaving machines with a capacity to weave eight lac meters of fabric a month. They have employed one of the most competitive team of personnel to ensure that the best quality products are delivered.
They have utilized the best Juki Machines and fabrics that the technology can provide to create a range of trendy garments also they have got an installed capacity of 1 lac pcs/month of garments. Their Research and Development team understands the needs of their clients and assists them in keeping pace with the ever changing world of fashion. Nourished with competitive price, good quality and timely delivery schedule they have carved a niche for their selves.
They provide the best quality of products. Their gamut of products include the following range:
Manufactured from finest quality of polyester their fabrics are soft and
available in beautiful counts of 2/20's, 2/30's and 2/40's. Durable and color
fastening they are also comfortable to wear. Shrink resistant and hand washable
they have been woven with precaution to every minute detail so that only the
perfect reaches their clients. They also manufacture 100% Polyster Fabrics in
the coubts of 2/20's and 2/30's. The finishing of their fabrics can be compared
with the international standards.
Cotton Suitings and Shirtings includes-
- Tussers
- Twills
- Dobbies
- Lycra
- Canvas
Corduroys
- Cross Cord
Fabrics
Made from pure and soft cotton, their cotton fabrics are widely used to manufacture variety of garments and apparels. Easy to wash and light to wear they are skin friendly. Available in hues of colors they are demanded the most both in Indian and International markets.
They are suppliers of high
quality RFD (Ready For Dyeing) and Dyed fabrics.
They are not 100% cotton but a mixture of cotton and other materials. Cotton
blended fabrics are used to provide strength and thickness to the garment. Non
stretchable and shrinkable they are skin friendly and color resistant.
They manufacture a wide variety of kids apparel that are both soft and tender.
High in quality and textures they prove to be ideal in any season. Made of 100%
cotton they are light to wear and have been trend setters in the Indian as well
as global markets. Available in attractive designs and bright colors they
generate both leisure and casualness. Skin friendly and designer, they enhance
the innocence of children.
Manufactured from quality fabric, their women garments cover a varied range of
apparels. Perfect in finish and stitches they are color fastening and do not
lose their shine even when dried in sun. Available in hues of colors and sizes
they also reflect the uniqueness and the creativity of their designers. Trendy
and colorful they depict the feminine choice.
Their mens trousers and jeans have been made keeping in view the current
fashion trends. With single as well as multi pockets their trousers and jeans
are both comfortable and display the masculinity. They can easily be worn
anywhere and perfectly match with any shirt or t-shirt.
Clients
They always strive to keep their customers satisfied with their quality products. They endeavor to grow by giving quality, economical and on-time delivery service to their expanding customer base. They realize that their progress depends upon the relation with their customers. Over a span of years, they have been able to carve a niche in the world market. They not only believe in meeting the customers needs and satisfaction, but also exceeding their expectations.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.56 |
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1 |
Rs.82.03 |
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Euro |
1 |
Rs.55.55 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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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 |
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 |
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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48 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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