MIRA
INFORM REPORT
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Report Date : |
01.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
EUROASIA
GLOBAL |
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Registered Office : |
8/6514,
Hardhian Singh Road, Dev Nagar, New Delhi – 110005, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1987 |
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IEC No.: |
0504042165
Dated 15.09.2004 |
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PAN No.: [Permanent
Account No.] |
AADPA4166C |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Importer,
Exporter and Manufacturer of Shoe Materials, PP Non – Woven Fabric Polymer –
EVA, PP, PVC, Modified Polymer Compounds Chemicals, DCP DOP, Titanium
Dioxide, Master Batch |
RATING & COMMENTS
|
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 : |
USD
20000 |
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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 concern having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
8/6514,
Hardhian Singh Road, Dev Nagar, New Delhi – 110005, India |
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Tel. No.: |
91-11-65709910/65709911 |
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Mobile No.: |
919868220263 |
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Fax No.: |
91-11-42670121 |
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E-Mail : |
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Website : |
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Area : |
900
Sq. ft |
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Location : |
Owned
(Commercial) |
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Factory
1 : |
Plot
No. 5, Sector No. 4, IIE, BHEL, Hridwar, Uttaranchal, India |
SOLE PROPRIETOR
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Name : |
Mr.
Sangit Agrawal S/o Late Krishan Kumar |
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Designation : |
Proprietor
(Chief Executive Officer ) |
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Address : |
G –
208, Rashmi Apartment, Harsh Vihar, Pitam Pura, New Delhi – 110034 |
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Date of Birth/Age : |
44
Years |
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Qualification : |
B. Com |
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Experience : |
15
Years |
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Mobile No.: |
91-9868220263 |
KEY EXECUTIVES
|
Name
: |
Mr.
Naresh |
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Designation
: |
Key
Executive |
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Mobile
No.: |
91-9310699911 |
BUSINESS DETAILS
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Line of Business : |
Importer,
Exporter and Manufacturer of Shoe Materials, PP Non – Woven Fabric Polymer –
EVA, PP, PVC, Modified Polymer Compounds Chemicals, DCP DOP, Titanium
Dioxide, Master Batch |
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Product.: |
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Exports to : |
China
and Italy |
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Imports from : |
China |
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Terms : |
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Selling : |
On
Credit (60 to 120 days) (Case to Case basis) |
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Purchasing : |
Credit
(30 days) |
PRODUCTION
STATUS
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Particulars |
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Actual Production |
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Non – Woven Fabric |
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3600 MT/Year |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around
36 (Production – 24, Office – 8 and Branch – 4) |
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Bankers : |
(Current A/c. 90061010005510) |
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Facilities : |
Subject
is enjoying cash credit facilities of Rs. 15.000 Millions from Punjab
National Bank |
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Banking Relations : |
Satisfactory
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Auditors : |
M/s.
Samynk & Company Chartered
Accountant |
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Address: |
41,
Convenient Shopping Complex, A – 4, Triveni Market, New Delhi – 110026 |
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Tel. No.: |
91-11-20502930 |
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Fax No.: |
91-11-25256268 |
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E-Mail : |
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Associates/Subsidiaries : |
At
Hong Kong, Shanghai, China, Dubai, Nepal and Sri Lanka |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
5.000 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 |
78.219 |
63.361 |
40.430 |
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Profit/(Loss)
Before Tax |
0.673 |
0.471 |
0.211 |
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Provision
for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss)
After Tax |
0.673 |
0.471 |
0.211 |
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Import Value |
0.652 |
0.607 |
0.383 |
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Networth |
5.000 |
4.327 |
4.116 |
Projected
Turnover for the financial year ending 31.03.2007 shall be to the tune of Rs.
100.000 Millions Approx
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.86
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0.74 |
0.52 |
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Net
Profit Margin (PBT/Sales) |
(%) |
0.86
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0.74 |
0.52 |
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Return
on Investment (ROI) (PBT/Networth) |
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13.46
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10.89 |
0.05 |
LOCAL AGENCY
FURTHER INFORMATION
Business
Business
dealings are permissible. The subject is an Importer of Shoe Materials, Non –
Woven Fabric, Polymer, Chemical from China and Export of PET Film to China and
Italy. The subject is also manufacturing Non – Woven Fabric and Supplying to
manufacturer of Shoes, Leather Industry, Home Furnishing and other industries.
The subject is importing the product on the purchase of open credit of 30
days
Subject is an Authorised Distributor
- Xingdong Shoe Materials
Company
(Shoe Materail, Chemical
Sheet, EVA/PE Sheet, Shoe Upper)
As per Website Details
Chemical Industry
Indian chemical industry has a strong and diversified base encompassing many areas such as organic and inorganic chemicals, plastics, fibres, dye stuffs, paints, pesticides, insecticides, speciality chemicals, drugs and pharmaceuticals. The growth in this sector has consistently been higher than the average rate of growth in the manufacturing sector in India. The current annual turnover in the chemical sector is around Rs. 900000.000 Millions of which roughly one-third each is contributed by the three main sub-sectors, namely, chemicals, petrochemicals and pharmaceuticals.
The
Indian Chemical Industry ranks 12th by volume in the world production of
chemicals. The industry’s current turnover is about USD 30.8 billion which is
14% of the total manufacturing output of the country. The export of chemicals
in the year 2002 was USD 5.875 billion, which forms almost 0.9 % of the world
export of chemical products and about 13% of the country’s total export.
Substantial proportion of these exports goes to the USA, Europe and other
developed nations. Its contribution to the national revenue by way of custom
and excise duties is about 20%. India is strong in basic chemicals that go into
production of consumer items like paints, dyes, soaps, medicines, toiletries,
cosmetics, etc.
The
Indian Chemicals Industry comprises both small and large scale units. The
fiscal concessions granted to small sector in mid-eighties led to establishment
of large number of units in the Small Scale Industry (SSI) sector. Currently,
the Indian Chemical Industry is in the midst of major restructuring and
consolidation phase. With the shift in emphasis on productinnovation, brand
building and environmental friendliness, this industry is increasingly moving
towards greater customer-orientation. Even though India enjoys an abundant
supply of basic raw materials, it will have to build upon technical services
and marketing capabilities to face global competition and increase its share of
exports.
In terms
of consumption, the chemical industry is its own largest customer and accounts
for approximately 33 per cent of the consumption. In most cases, basic
chemicals undergo several processing stages to be converted into downstream
chemicals. These in turn are used for industrial applications, agriculture, or
directly for consumer markets. Industrial and agricultural uses of chemicals
include auxiliary materials such as adhesives, unprocessed plastics, dyes and
fertilizers, while uses within the consumer sector include pharmaceuticals,
cosmetics, household products, paints, etc.
Leather Industry
India
accounts for about 6% of world leather production, placed at nearly 10 million
tonnes, though its share in world trade in leather products estimated to be US
$ 68 billion is only 2.3%. Italy is the leader in the global leather and
leather products trade followed by China, USA and Korea. The industry is highly
fragemented in both the developing and developed countries and has been facing
serious problems of non-availability of raw material and growing consciousness
for eco-friendly products inputs.
Indian Leather Industry :
Today the leather and leather goods industry ranks sixth among the
commodity and merchandise goods exports from India. Even the Indian market has
been fragmented with about 2200 tanneries of which 2100 are small scale units
and over 8000 leather product manufacturing units. Due to policy of reservation
of this sector for SSIs it has been fragmented. India's share in leather and
leather products in world trade has accounted between 2.1% to 2.5 % since 1995
Footwear Industry :
There are nearly 4000 units engaged in manufacturing footwear in India.
The industry is dominated by small scale units with the total production of
55%. The total turnover of the footwear industry including leather and
non-leather footwear is estimated at Rs.85000.000 Millions Rs. 95000.000
Millions including Rs.12000.000 Millions Rs.14000.000 Millions in the household
segment. India's share in global leather footwear imports is around 1.4% Major
competitors in the export market for leather footwear are China (14%), Spain
(6%) and Italy (21%).
Major Constraints & Concerns of the Footwear Sector :
Lack of regular, sufficient and high quality supply of finished leather
is the major drawback in the industry. Components like adhesives, fittings, etc
are not available in the desired quantity. Some of the factors affecting the
optimum capacity utilization by SSIs are lack of orders, lack o finance,
shortage of raw materials, labour problems, regular power failures etc.
INDIAN LEATHER INDUSTRY AN OVERVIEW
- A US $ 4.5
Billion Industry
- Estimated 15%
of total purchase of leading global brands in footwear, Leather garments,
leather goods & accessories in Europe, is outsourced from India.
- The second
largest manufacturer of leather garments & footwear.
- All operational
tanneries linked to individual or common effluent treatment plants
- Strong
accessories and components industry
- Rich experience
in producing leather
- Dominates
fashion colours in MODEUROP.
- Advantage of
the the largest Livestock population in the world.
- Amongst the
major producers of finished leather in the world having 1.8 Billion sq.
feet of leather goods produced annually.
- Conducive
environment for international brands to set up operations in India
- 100% Overseas
investment allowed in tanning and footwear.
- A large number
of qualified leather technologists/Technical skills
About Us
EuroAsia Global serves the Indian customers as well as buyers in other foreign
countries with the best quality raw materials from Reliable Global Producers.
They represent World known producers of industrial chemicals for marketing in
India. They entered into Import and Export of goods in the year 1987. They are
also engaged in financial activities having investments in Real Estates and
Stock Market.
EuroAsia Global has a wide range of products to offer:
- Non Woven Fabrics - Shopping Bags Rice Bags, Furnishing, Shoes.
- Poly-Chem - EVA, DCP, AZOFOAM, PET Flakes, PE, PP, PVC, Modified
Polymers
- Shoe Material -PU Leather, PVC Leather, Coated Fabrics,
Non Woven Fabrics, Insole Sheets, Shoe Finish
- Building Material - FLY Ash
Bricks/ Blocks/ Pavers.
Their Strengths
In this competitive world the winning edge is quality, at all levels. They have
implemented this fact based policy right from accepting the order to the final
dispatch. At EuroAsia Global they are committed to supply highest quality
products.
Infrastructure is the vital force behind the success of any organization.
Being an importer/exporter/producer & distributor of various
product, they ensure that both their warehousing as well as distribution
facilities are in proper condition so as to deliver products on -time to their
customers. They constantly research the market and keep ourselves in touch with
their buyers so as to have an accurate idea of their requirements. These
initiatives ensure that only a flawless product reaches the customer.
EuroAsia Global has a very close relationship with worldwide producers. They
have their offices in New Delhi, Mumbai, Hong Kong, Shanghai, Dubai, Nepal and
Sri Lanka.
The company's aim is total customer satisfaction in everything it does is
directed towards this goal. Thus the future growth will come from focus on core
strengths and competencies and adding new products to augment and complement
the existing product and industry base. In doing this, the aim is to make
EuroAsia Global's reputation as a valued partner to its customers, supplying
the highest quality products consistent with meeting the customer's commercial
objectives
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.44.23 |
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UK
Pound |
1 |
Rs.86.91 |
|
Euro |
1 |
Rs.58.26 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
|
46 |
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 |
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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 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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