MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CAP |
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Registered Office : |
2610, Street No. 7, Raghubar Pune No. 2, Gandhi Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1987 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturing and Exporting of Caps, Hats, Industrial Caps, Engineering
Dresses |
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 : |
- |
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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.
Partners are reported as experienced and respectable businessmen. 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 : |
2610, Street No. 7, Raghubar Pune No. 2, Gandhi Nagar, |
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Tel. No.: |
91-11-22546265 / 22026265 |
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Mobile No.: |
91-9810136024 (Mr. Mahesh Jain) 91-9891089109 (Mr. Rahul Jain) |
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Fax No.: |
91-11-22516265 |
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E-Mail : |
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Website : |
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Area : |
70sq.mtrs |
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Location : |
Owned |
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Factory : |
Subject has bought a plot at Bhawana but plot is not allotted till
date. |
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Area : |
90sq.mts (financed by Delhi Financial Corporation) |
PARTNERS
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Name : |
Mr. Mahesh Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Secondary Education |
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Experience : |
30 Years |
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Name : |
Mr. Rahul Jain |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of Caps, Hats, Industrial Caps, Engineering
Dresses |
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Products : |
Caps - §
Winter Caps §
Summer Caps §
Sports Caps §
P – Caps §
Industrial Caps §
Promotional Caps §
Army Caps Hats Promotional T – Shirts Fashion Bags Engineering Dresses |
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Exports : |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Terms Export: L/C, D/A, DP, Advance Local Sales: cash and 30 – 45 days Credit |
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Purchasing : |
Advances, Cash or 30 days credit |
GENERAL INFORMATION
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Suppliers : |
Purchase of Raw Materials from Local Markets |
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Customers : |
o
General Constructor, o
Honda o
Maruti o
IOC o
Bharat Petroleum o
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No. of Employees : |
37 (12 Factory, 25 Job Workers) |
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Bankers : |
ICICI Bank Preet Vihar, Punjab National Bank Gandhi Nagar, Corporation Bank |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.800 / 1.000 million |
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Borrowed : |
- |
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Total : |
Rs.0.800 / 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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7.800 |
7.000 |
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Gross Profit |
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15% |
- |
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Profit After Tax |
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9% (Approx) |
- |
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Expected Sales (2007-08) : Rs.Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Production:
Company wants to increase production by 60%
Company Details:
Cap
They are a company that is into the
Manufacturing, Exporting and Supplying
of Caps and Hats of World Class
Quality. Their strength lies in the energetic and professional quality
of their staff which makes them ready to keep abreast with time and fashion.
Their staff is always on the look out for new yarn to suit their customers.
Needs and designs and their sample section do their best to make your beautiful
designs on paper come real.
More importantly, their factory being in prime location at
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.40.98 |
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1 |
Rs.80.98 |
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Euro |
1 |
Rs.54.99 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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48 |
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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