MIRA
INFORM REPORT
|
Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
PANTLEY FASHIONS |
|
|
|
|
Registered Office : |
25/1A, Gali No. 17, Vishwas Nagar, Shahdara, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2007 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Garments, Fashion Accessories, etc |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new concern. It is backed by an established concern. Proprietor
is reported as experienced and respectable businessman. His trade relations
are reported as fair. Payments are reported as usually correct and as per
commitments. The concern can be considered for small business dealings with slight
caution initially. |
LOCATIONS
|
Registered Office : |
25/1A, Gali No. 17, Vishwas Nagar, Shahdara, |
|
Tel. No.: |
91-11-42141092/ 64609367 |
|
Mobile No.: |
91-9910562666 |
|
Fax No.: |
91-11-42141080 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. ft |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Pravesh Chopra |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
Graduate |
|
Experience : |
10 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Garments, Fashion Accessories, etc |
|
|
|
|
Products : |
v
Fashion garments (ladies and gents) v
Hi – fashion garments (ladies) v
Casual garments (ladies and gents) v
Artificial Jewelleries v
Hand bags, scarf & pareo’s |
|
|
|
|
Brand Names : |
Pantley |
|
|
|
|
Exports : |
|
|
Countries : |
Europe, |
|
|
|
|
Terms : |
|
|
Selling : |
LC, Cash or Credit |
|
|
|
|
Purchasing : |
Cash or Credit |
PRODUCTION STATUS
Capacity to increase production by – 200%
GENERAL INFORMATION
|
Suppliers : |
Purchase of Raw Material from Open Market |
|
|
|
|
Customers : |
v
Bilka ( v
v
Another Edition, v
Beams, v
Narumi ( |
|
|
|
|
No. of Employees : |
40 (in both the companies) |
|
|
|
|
Bankers : |
v
ICICI Bank -
Preet Vihar, v
The Federal Bank Limited, Nirman Vihar, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Memberships : |
v
AEPC (Apparel Export Promotion Council) v
Textile Committee v
PHD Chamber of Commerce |
|
|
|
|
Associates/Subsidiaries : |
PG Merchandise Started in – 2000 STO – 40.000 Millions Employees – 50 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.500 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2007-08) : Rs. 5.000 Millions
LOCAL AGENCY FURTHER INFORMATION
As Per Website Details
The subject is the garment division of PG MERCHANDISE.
PG Merchandise is a globaly renouned as a manufacturer & exporter of
esteemed quality in fashion garments, fashion accessories and madeups. PG has
established a prestigious name in good sense of fashion nice quality &
delivery.
PG established in 2000. The company has educated background in fashion
technology. The company is growing professionally worldwide with his good
reputation for reliability and high quality standards. Today PG has a turnover
approximately USD one million.
STRENGTH :
Their main strength is highly professional & educated owner in
fashion technology & parallel team are always on the move to develop new
& innovative designs in fabrics, sillouthes, cuts & shapes.
TEAM :
Their competitive edge is a very strong technical team. They execute the
orders in good skill & delivery on time. PG commitment to a customer always
comes first.
MAKING A MEN :
They have also been involved in the activity of training people, giving
them inspiration, guidance and responsibility. The same tradition continues
till date in responsing trust and confidence in their people.
PRODUCTS
v
Fashion garments (ladies & gents)
v
Hi – fashion garments (ladies)
v
Casual garments (ladies & gents)
v
Artificial Jewelleries
v
Hand bags, scarf & pareo’s
QUALITY :
Quality is a strength of PG. They have sets for best quality inspection
center where comprehensive QC measures have been integrated in all production
procedure to minimize any manufacturing defects. They source all the fabrics
& materials from reliable sources. They always use best quality yarn &
raw materials for maintaining their strength of quality.
INFRASTRUCTURE :
Their all production and finishing activities are in house. They have
all latest required machines for better production & they always try to
increase the latest facilities.
|
Brand |
Description |
No of Machines |
Performance |
|
Juki |
Single Needle |
65 |
Good |
|
Friends |
Machine Emb. |
25 |
Good |
|
Pegasus |
Over Lock |
4 |
Good |
|
Juki |
Over Lock |
2 |
Good |
|
Pegasus |
Flat Lock |
2 |
Good |
|
Eastman |
Cutting Machines |
2 |
Good |
|
Ram Sons |
Steam Press |
6 |
Good |
|
Juki |
Kaj Button |
1 |
Good |
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 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.40.33 |
|
|
1 |
Rs.82.63 |
|
Euro |
1 |
Rs.55.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|