MIRA
INFORM REPORT
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Report Date : |
05.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
MODEL
EXIMS |
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Registered Office : |
230,
Sultan Villa, Jajmau Road, Kanpur – 208010, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1990 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPM00169B
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer
and Exporter of Shoe and Shoe Uppers. |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Slow
by average 30 days |
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Litigation : |
Clear |
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Comments : |
Despite
several approaches Mr. Subhankar, Mr. Dhanesh and Mr. Ravi remained non-cooperative
during our current investigation. Subject appears to be a well established
concern having moderate track records. It’s payments are reported as slow and
delayed. Efforts
are continued for latest business and financial details and if available a
shall follow, soon. In the meantime, the concern can be considered for normal
business dealings at usual trade terms and conditions with some caution,
initially. |
LOCATIONS
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Registered Office / Factory : |
230, Sultan
Villa, Jajmau Road, Kanpur – 208010, Uttar Pradesh, India |
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Tel. No.: |
91-512-2461644
/ 2460694 |
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Fax No.: |
91-512-2460170
/ 2462579 |
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E-Mail : |
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Area : |
12000
sq. ft. [4 stories] |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Marghoob
Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
16.11.1952 |
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Qualification : |
B.
Com. LLB |
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Experience : |
30
Years |
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Name : |
Mr.
Maqsood Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
11.06.1953 |
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Qualification : |
Graduate
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Experience : |
15
Years |
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Name : |
Mr.
Mohib Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
12.04.1955 |
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Qualification : |
Graduate
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Experience : |
34
Years |
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Name : |
Mr.
Mehmood Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
21.07.1960 |
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Qualification : |
Graduate
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Experience : |
28
Years |
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Name : |
Mr.
Mehtab Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
11.07.1962 |
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Qualification : |
Graduate
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Experience : |
20
Years |
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Name : |
Mr.
Badre Alam |
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Designation : |
Partner
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Address : |
Sultan
Villa, Jajmau, Kanpur, Uttar Pradesh, India |
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Date of Birth/Age : |
30.07.1963 |
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Qualification : |
Graduate
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Experience : |
18
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Exporter of Shoe and Shoe Uppers. |
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Products : |
Footwear
/ Soles |
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Exports to : |
Finished
Leather and Uppers to Europe [France, Germany, Italy and others] Dubai |
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Imports from : |
Raw Materials
from Brazil, Germany, Italy and China |
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Terms : |
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Selling : |
L/C,
Cash, Credit and at Sight |
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Purchasing : |
L/C,
Cash and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
Wholesalers
and Retailers |
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No. of Employees : |
384
[In Office : 34 ; In Factory 350] |
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Bankers : |
Jajmau, Kanpur Credit Limit : Rs. 15.000 Millions
Civil Lines, Kanpur Credit Limit: Rs. 10.000 Millions
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Banking Relations : |
Satisfactory
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Auditors : |
N.
Dudey and Company Chartered
Accountants Birhana
Road, Kanpur |
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Associates/Subsidiaries : |
Sultan Tanners Kanpur Manufacturer
of finished leather Model Tanners Private Limited Kanpur Manufacturer
of Leather and Uppers |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
2.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
98.500 |
95.000 |
70.000 |
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Group Turnover |
330.000 |
NA |
NA |
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Profit/Loss for the year |
6.700 |
6.200 |
5.900 |
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Export Value |
100 % |
100 % |
100 % |
Projected Turnover for Current Year [2006-07] Rs.
100.000 Millions
Projected Group Turnover for March 2007 Rs. 400.000
Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Al Kabeer Exporter Limited –
UAE
- Allied Chemicals Limited
- Chidri Linkin – UAE
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.44.11 |
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UK
Pound |
1 |
Rs.86.58 |
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Euro |
1 |
Rs.57.04 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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TOTAL |
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38 |
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/normal. |
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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