MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ADISH TRADING COMPANY |
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Registered Office : |
4914 – B, Rajan Market, Near Westend Cinema, Sadar Bazar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader and Exporters of wide variety of Polyester, Sheet, Rod, Laser Buttons,
Hooks, Zips and other Garment Accessories. |
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 2800 |
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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 and reputed concern having satisfactory track. Proprietor is reported as experienced and
respectable businessman. Trade
relations are reported as fair.
Business is active. 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 : |
4914 – B, Rajan Market, Near Westend Cinema, Sadar Bazar, |
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Tel. No.: |
91-11-23512064 |
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Mobile No.: |
91-9810076834 |
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Fax No.: |
91-11-23512064 |
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E-Mail : |
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Area : |
300 Sq. fts. |
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Location : |
Owned |
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Warehouse: |
Subject is having two warehouse in the same area |
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Area : |
450 + 600 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ajeet Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporters of wide variety of Polyester, Sheet, Rod, Laser
Buttons, Hooks, Zips and other Garment Accessories. |
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Exports to: |
Jeddah |
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Terms : |
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Selling : |
Cash or Credit 930 days- 45 days) |
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Purchasing : |
Cash or Credit (30 days) |
PRODUCTION STATUS
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Installed Capacity, Actual production Capacity to increase production
by 50% |
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GENERAL INFORMATION
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Suppliers : |
Purchase of raw material from local market |
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Customers : |
v
Liliput – Okhla v
Manufacturer for ‘Lee’ – v
Westside - Mumbai |
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No. of Employees : |
6 |
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Bankers : |
Punjab National Bank Shakti Nagar, |
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Facilities : |
No Overdraft |
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Banking Relations
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Satisfactory |
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Associates/Subsidiaries : |
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Name: |
Ajeet Manufacturing Company |
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Address: |
Two Factories in Bahadurgarh, One in Rai – Haryana |
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Area: |
1000 Sq. mtrs. + 800 Sq. mtrs. + 600 Sq. mtrs. |
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Line of
Business: |
Manufacturing of wide variety of Polyester, Sheet, Rod, Laser Buttons,
Hooks and Garment Accessories. |
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Sales Turnover: |
Rs. 9.000 millions |
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No. of
Employees: |
36 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.700 million |
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Borrowed : |
- |
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Total : |
Rs. 0.700 million |
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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3.000 |
2.500 |
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Profit for the year |
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8% |
NA |
Expected Sales (2007-08): Rs. 5.000 millions
LOCAL AGENCY FURTHER INFORMATION
Future Programs of
the Company
They want to increase export.
Website details attached
Subject is a premier organization that is well established both in the
domestic and international market as a manufacturer and exporter of wide
variety of Button, Hooks and other
Garment Accessories. The company was established in 1992 and
within a decade, they have earned a remarkable reputation for all kinds of
clothing accessories. Their primary objective is to achieve growth through
continuous improvement and innovation. They are a quality conscious company and
strive to fulfill their promise of total customer satisfaction. Their potential
lies in superior quality, on-schedule delivery and competitive prices.
Products
They present a wide range of apparel accessories and garment accessories in
different designs and styles to enhance the appearance of various garments. Concisely,
they are the manufacturer and exporter of Button, Hooks and other Garment Accessories.
Infrastructure
They are fully equipped with in-house facilities
for mass production of Button, Hooks
and other Garment Accessories. They possess a state-of-the-art
manufacturing unit operated by a team of experts who develop products as per
the requirements and specifications of our customers. Their sound and
sophisticated infrastructure is well equipped with hi-tech designing machines,
dedicated craftsmen and experienced professionals. They have the support of
exceptional group of designers who work in coordination with the clients and
are specifically dedicated to each individual line, which continuously strive
for new designs and patterns in their design studio.
Strengths
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Updated performance
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Prompt deliveries and clear communication
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Competitive Prices
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Best services to customers
Quality
Assurance
They are a
professional company, totally committed towards providing high quality products
to our customers. They inevitably give great emphasis on quality control,
therefore producing innovative and high precision products. During production,
to ensure that finished items are fit for purpose and are of highest possible
standards, they are thoroughly checked.
Complete documented details are taken in each step of the manufacturing process
to guarantee you the best. During the final process products are inspected,
assembled and superior packaging is done to ensure total customer satisfaction.
Their goal in the manufacturing process is to give defect-free products while
meeting all the delivery schedules and requirements.
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. 40.56 |
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1 |
Rs. 80.81 |
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Euro |
1 |
Rs. 54.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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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 |
NO |
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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 |
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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
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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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