MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
C N SUHAIL AHMED SAWOOD AND COMPANY |
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Registered Office : |
No.20, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1980 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDC01909F |
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PAN No.: [Permanent
Account No.] |
AABFL1978G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers of Finished Leather. |
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 : |
-- |
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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 : |
No.20, |
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Tel. No.: |
91-44-25615599/ 25611920 |
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Mobile No.: |
91-9443738009/ 9941003341 |
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Fax No.: |
91-44-42041747/ 25386419 |
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E-Mail : |
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Area : |
2500 Sq.ft. (Leased) |
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Factory 1 : |
Tanneries No.1/1, |
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Tel. No.: |
91-4171-232601 |
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Fax No.: |
91-4171-232602 |
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E-Mail : |
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Area : |
6 acres (Owned) |
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Factory 2 : |
Tanneries No.1/1, |
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Tel. No.: |
91-4171-293379 |
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Area : |
2 acres (Owned) |
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Branches : |
No.1/1, |
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Tel. No.: |
91-4171-232601 |
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Fax No.: |
91-4171-232602 |
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E-Mail : |
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Area : |
400 Sq.ft. |
PARTNERS
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Name : |
Mr. C N Fuzail Ahmed |
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Designation : |
Partner |
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Address : |
Pernambut, Vellore District, Chennai-600011, Tamilnadu |
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Date of Birth/Age : |
40 years |
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Qualification : |
B.Com. |
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Experience : |
20 years |
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Tel. No.: |
91-4171-232481 (Res.) |
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Mobile No.: |
91-9443738009 |
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Name : |
Mr. C N Sawood Ahmed |
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Designation : |
Partner |
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Address : |
Pernambut, Vellore District, Chennai-600011, Tamilnadu |
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Date of Birth/Age : |
L. Tech. |
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Qualification : |
P U C |
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Experience : |
23 years |
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Name : |
Mr. C N Suhail Ahmed |
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Designation : |
Managing Partner |
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Address : |
Pernambut, Vellore District, Chennai-600011, Tamilnadu |
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Date of Birth/Age : |
52 years |
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Qualification : |
B. Tech. |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Finished Leather. |
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Exports : |
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Products : |
All products |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (120 days), TAD Terms/ DAA Terms |
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Purchasing : |
L/C and D/A Terms |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Finished Leather |
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300000 Sq.ft.
per month |
GENERAL INFORMATION
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Customers : |
Manufacturers and Exporters of Finished Leather |
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No. of Employees : |
60 |
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Bankers : |
Indian Bank, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. K G M Gupta Chartered Accountants |
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Address : |
Chittor, |
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Tel. No.: |
91-8572-232338 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.10.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.10.000 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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100.000 |
80.000 |
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Profit/Loss for the year |
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30% total
turnover |
20% total
turnover |
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Export Value |
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50.000 |
39.000 |
Expected Sales (2007-08) : Rs.120.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References :
v
Parpia International –
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v
BASF – Chennai
– Leather Chemicals
v Income Marketing Corporation – Periamet, Chennai
- Leather Chemicals
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v T S Leathers,
Observation Points :
v Name Board : Highly sighted
v Land Mark : Near to Southern Railway Station at Chennai (Periamet)
v No. of Employees seen at office premises : 3 persons
v Office Appearance : Not good
v Factory Area : The factory is situated at remote area at
v Area of the office premises : Up market.
Website Details :
The Company Established in 1972, is Manufacturer and export of finished Leather and leather garments It also specifies cow lining leather
The company looks forward for joint ventures / buy back arrangements for
setting up shoe precut lining / components, travel bags, belts and small
leather goods.
Products
The tannery has a
production capacity of 300,000 sq.ft. of leather per month and a member in
common effluent treatment plant.
It also produces
1000 pieces of leather garments per month.
This includes both men's wear and ladies jackets.
These are mainly
from cow leathers.
The company, which
has a workforce of 40 persons and an annual turnover of Rs.70 million, is
currently exporting to all European countries, U.S,
Classifications in finished leather:
F/C - Cow lining leather
F/C - Cow softy upper leather
F/C - Cow natural mill leather
F/C - Cow PDM leather
F/C - Cow nubuck leather.
They are specialists in shoe lining leather.
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.40.49 |
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1 |
Rs.81.77 |
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Euro |
1 |
Rs.55.18 |
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 |
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 |
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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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
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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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