MIRA INFORM REPORT
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Report Date : |
08.05.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAKSHATRA
CLOTHING |
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Registered Office : |
#101, |
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Country : |
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Financials (as on) : |
31-03-2007 |
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Date of Incorporation : |
April
2004 |
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TAN No.: [Tax Deduction & Collection Account
No.] |
HYDN02593D |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Engaged
as a distributors of Pepe Jeans |
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
15000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Satisfactory
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Comments : |
Subject
is a well established concern having satisfactory track. The concern is doing
well. Trade relations are fair. Payments are usually correct and as per
commitment. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
#101, |
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Tel. No.: |
91-40-66787312 |
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Mobile No.: |
91-9391062643 |
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Fax No.: |
91-40-66787312 |
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E-Mail : |
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Area : |
Owned
– 3000 sq. fts. (Family Owned Property) |
PARTNERS
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Name : |
Mr.
Srikant Bollam |
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Designation : |
Partner
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Date of Birth/Age : |
32
years |
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Experience : |
10
years |
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Name : |
Mrs.
Savita Bollan |
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Designation : |
Partner
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BUSINESS
DETAILS
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Line of Business : |
Engaged
as a distributors of Pepe Jeans |
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Terms : |
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Selling : |
Credit
(7 to 65 days) |
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Purchasing : |
Credit
(45 days) |
GENERAL
INFORMATION
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Customers : |
Retailers
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No. of Employees : |
12 |
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Bankers : |
Union
Bank of |
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Facilities : |
Cash Credit
: Rs. 1.000 million |
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Banking Relations : |
Satisfactory
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Sister Concern : |
Megha
Fashions, Line
of Business : Traders of ‘Adidas’
Garments ‘Sweet
dreams’ Meenakshi
Retail Line
of Business : ‘Pepe’ exclusive & another for multibrand garments. |
CAPITAL
STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
7.500 millions |
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Borrowed : |
Rs.
1.000 million |
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Total : |
Rs.
8.500 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 |
50.000 |
30.000 |
21.000 |
LOCAL
AGENCY FURTHER INFORMATION
Expected
Sales (March 2008) : Rs. 80.000 millions
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
|
Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.40.91 |
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1 |
Rs.81.46 |
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Euro |
1 |
Rs.55.42 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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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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54 |
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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