MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION DETAILS
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Name : |
G.R CORPORATION |
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Registered Office : |
18,(C-2), Pokharpur, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPG01188F |
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Legal Form : |
Subject is a Partnership Concern with an Unlimited Liability of the
Partners. |
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Line of Business : |
Manufacturer and Traders of Nerrow Fabrics and Nylon 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 260000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Corrects |
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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 corrects 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 / Factory Office : |
18,(C-2), Pokharpur, |
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Tel. No.: |
91-512-2450858 |
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Mobile No.: |
91-9336851643 |
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Fax No.: |
91-512-2451024 |
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E-Mail : |
grgroup@sancharnet.in |
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Area : |
1100 Sq. mts. |
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Location : |
Owned |
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Branches : |
15/ 79 A Civil Lines, |
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Tel. No.: |
91-512-2305823 |
PARTNERS
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Name : |
Mr. Alok Garg |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Name : |
Mrs. Anuradha Garg |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
65 Years |
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Qualification : |
Graduate |
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Experience : |
House Wife |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Traders of Nerrow Fabrics and Nylon Fabrics. |
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Products : |
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Exports : |
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Products : |
Fabrics |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 Days) |
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Purchasing : |
L/C, Cash , Credit (30 Days) Against Documents |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150 |
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Bankers : |
State Bank of Mall Road |
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Facilities : |
Credit Limit Rs.15.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Prakash & Santosh Chartered Accountant |
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Address : |
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Associates : |
Duoteh India Private Limited 15 / 79, A Civil Lines, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.6.500 Millions |
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Borrowed : |
--- |
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Total : |
Rs.6.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
79.500 |
75.800 |
75.000 |
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Net Profit |
3.450 |
3.415 |
3.250 |
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LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
- Automatic
Trading
- Shatabdi
Synthetic Private Limited
Web Detail Attached
The Concern was established in 1980 based in
kanpur ( India ) about 500 kms from new Delhi, the capital of their country.
The company is in the manufacturing of various kinds of narrow fabrics like
webbings, elastics, tapes, shoe laces since last 2 decades. It’s products are
confirming to various standards and The Company is currently exporting to
various countries accross the globe. The Company has a total of 500 machines,
team of 200 employees and produce 10 million meters/month of the tapes.
The following indicates details of the product
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Elastics: - these are offered in
knitted, woven and braided variety. The material which can be offered is
cotton, polyester, polypropylene. The widths can be offered from 1mm to 100mm
wide. The packing offered is in rolls form from 10mtr to 100 mtr length rolls,
apart from it the packing can be offered in feestoon, layered form or on spools
as well. Other point of mention here is that The Company can offer the elastics
in made up form also in various cut lengths as well as with tipped ends, heat
sealed ends.
Knitted elastics - regular crochet knitted
elastics, draw string
Knitted elastics, terry elastics, buttonhole
elastics, fibrillated elastics, frilled elastic, lingerie elastics
Woven elastics - regular woven elastics,
fold over elastics, jacquard elastics, furniture elastics
Braided elastics - 4 cords, 6 cords,8
cords,10 cords etc
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Cords – The Company offer a variety of cords in
various diameters, elastic, rigid round or flat in standard shades or dtm
Shades. The cords can be tagged or tipped to meet customer's need.
Mainly we offer bungee cords, guy cords, float line cords
Skyteflertwine used in sports, fishing, shipping and mooring, building,
camping industry.
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Webbings: - these are offered in
various types made from cotton, nylon, polyester, polypropylene, acrylic,
viscose rayon, jute, fibre glass, etc and in rigid as well as elastic type, the
widths offered are from 1mm to 100mm wide and in standard shades. Besides the
standard shades The Company can offer dyed to match shades as well depending on
the customer' S requirement. The packing offered is in 10mtrs to 100 mtrs length
rolls, also if layered or feeston packing is desired then the same can be
offered as well.
Apart from the
standard webbing types The Company can offer the product in made up form as
well I. E in various cut lengths, straps, heat sealed and with buckles, rivet,
eyelits, punched, sliders, hooks etc as per the requirement.
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Tapes: The Company
offer various kinds of tapes like rigid tape, shoulder. Tape, twill tape, gross
grain tape,, stay tape, curtain tapes, boning tape, mattress tape, gripper tape
in woven or knitted form. The tapes are offered from cotton, nylon, polyester,
polypropylene raw material and in various widths from 1mm to 100mm in various
types and designs as per the demand of the customers. The packing is offered in
spools from 100 mtrs to 1000 mtrs length.
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Shoe laces: The Company
offer various kinds of shoe lace flat or round as per the requirement of
customers as per the packing desired in retails or spool. Besides the above The
Company has after finishing facilities like heat set, stiff set which can be
offered to the customer as per their requirement. In terms of packaging The
Company can offer special packaging as
demanded with customer's logo, pack dimensions etc.
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.41.15 |
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1 |
Rs.82.02 |
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Euro |
1 |
Rs.56.07 |
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 |
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 |
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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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