MIRA
INFORM REPORT
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Report Date : |
02.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
NAPOLEON
MILLS |
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Registered Office : |
25/26,
Champa Gulli, 2nd Floor, Near Bank of Baroda, Kalbadevi – 400002,
Mumbai |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1995 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN08879D |
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PAN No.: [Permanent
Account No.] |
AADFN6383Q |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer
of Shirting Fabrics |
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 : |
USD
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established concern having satisfactory track. Trade relations
are fair. General reputation is favourable. Payments are usually correct and
as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
25/26,
Champa Gulli, 2nd Floor, Near Bank of Baroda, Kalbadevi – 400002,
Mumbai |
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Tel. No.: |
91-22-66346561/66346562 |
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Fax No.: |
91-22-66346561 |
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Area : |
600
Sq. ft |
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Location : |
Rented |
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Factory
1 : |
Old
Arihant Compound, Opposite Kopar Bus Stand, House No. 10 & 11, First
Floor, Bhiwandi, District – Thane |
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Area : |
40000
Sq. ft |
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Location : |
Leased
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PARTNERS
|
Name : |
Mr.
Sanjeev U Rathod |
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Designation : |
Partner
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Date of Birth/Age : |
34
Years |
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Qualification : |
Graduate
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Experience : |
10
Years |
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Mobile No.: |
91-9867254224 |
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Name : |
Mr.
Narendra U Rathod |
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Designation : |
Partner
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Date of Birth/Age : |
39
Years |
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Qualification : |
Post
Graduate |
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Experience : |
15
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Shirting Fabrics |
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Products : |
Shirting
Fabrics and Looms |
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Exports to : |
Sri
Lanka, South Arabia & Dubai |
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Imports from : |
China
(2 years back) |
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Terms : |
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Selling : |
L/C,
Cash & Credit & D/P at sight |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers
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No. of Employees : |
250 |
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Bankers : |
HDFC
Bank, Sarvodaya Mehul Circle, Mulund (West), Mumbai – 400080 |
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Facilities : |
Cash
Credit Limit – Rs. 5.000 Millions |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Chandan
Industries 25/26,
Champa Gulli, 2nd Floor, Near Bank of Baroda, Kalbadevi – 400002,
Mumbai Line
of Business - Manufacturer of
Shirting Fabrics |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
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Owned : |
Rs.
5.000 Millions |
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Borrowed : |
Rs.
5.000 Millions |
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Total : |
Rs.
10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
95.000 |
90.000 |
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Export Value |
|
50% |
50% |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
- Apsara Store, Dubai
About Us:
Napoleon Mills was established in year 1995. One of the leading
manufacturers and exporters of the various Shirt Fabric, they foresaw the the
emergence of the retailing sector and targeted their product offerings to the
manufacturers of garments. Not only this, they also encouraged the new players
in the garment industry to build new portfolios with formal but impressive
Shirting Outfits.
Products:
They are the premier manufacturer of Shirt
Fabric of all kind; be it stripes, plains or checks, be it a formal office wear
or a dazzling party wear, be it 100 % pure cotton or blended in traditional or
trendy man made fabric. Since their inception, they have concentrated on
designing and manufacturing quality fabric for shirts. Their products are made
from PV (poly viscose), PC (poly cotton), cotton and covers all ranges in
plains, stripes and checks. Their company is proud to have a virtual monopoly
in manufacturing stripes shirting. In fact, they also have perhaps the widest
range in stripes the world over.
Infrastructure:
Since their inception, they had been producing Polyester-Viscose (PV) and
Polyester-Cotton (PC) blends. Then gradually, they flourished and in 2001, they
started producing more than 4 million meters of fabrics per year. They offer
the best design and production techniques for sampling (as low as 500 mtrs.) as
well as large quantity manufacturing. Their company has an integrated design
studio which churns out innovative designs on a daily basis. The well-mannered
equipments and machineries of their company have boosted up their spirits to
manufacture the better quality of Fabrics.
Product and
Services at its Best:
Their company is known to provide the best quality at a reasonable price and it
is determined to deliver the fabrics in time. They understand the needs of
their customers well and produces the best value for them. They have grown
almost 10 fold in the past 6 years. In these years, they have come closer to
the customers and successfully catered to their varied taste.
Strong Bond with
their Clients
They are committed to produce strong, long-term relations with their customers
and provide them great value. They have nurtured on the strength in the areas
of textile design and manufacturing and created a great niche in the Domestic
Market. Now, they wish to open their doors to the world to benefit from their
services and facilities. In the future, they hope to continue the same trend
with ever increasing brands and design portfolio and providing the most trendy
and quality fabrics to their clients.
Company Profile
|
Business Type |
Exporter ,
Manufacturer |
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Export Percentage |
Rs. 20.000
Millions |
|
Primary
Competitive Advantages |
The company is
known to provide the best quality at competitive price with quality and
determined to deliver the fabrics in time |
|
No of Staff |
250 |
|
Year of
Establishment |
1995 |
|
No of Production
Lines |
250 Looms |
|
Export Markets |
Sri-Lanka,
Bangladesh, Morocco, Saudi Arabia, Dubai, Hong-kong |
|
OEM Service
Provided |
No |
|
Monthly Production
Capacity |
Rs. 0.300 Millions
Meters |
|
Memberships |
SRTEPC, FAITMA,
AEPEC, FIEO , COTTON TEXTILE EXPORT PROMOTION COUNCIL |
|
Product Range |
Shirt Fabrics of
all kind in Stripes, Plain or Checks, Office Wear or Party Wear, 100% Cotton
or Blended in Traditional or Trendy Fabrics, Mens Wear |
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.44.20 |
|
UK
Pound |
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.58.53 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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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 |
YES |
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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 |
|
45 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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