MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ESKAY SALES CORPORATION |
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Registered Office : |
8/373, Hing Ki Mandi, Agra –
282003, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1976 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AGRE10012C |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer, Exporter, Trader of shoes, leather goods, sky hooks,
loop fastners, electric tapes, hardeners, and pv adhesives. |
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 32000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern. Partners are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
8/373, Hing Ki Mandi, Agra –
282003, Uttar Pradesh |
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Tel. No.: |
91-562-2460289/96/98-2360326/329 |
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Mobile No.: |
91-9837036327 |
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Fax No.: |
91-562-2360245 |
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Area : |
6000 sq. ft. |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Surinder Kumar Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
52 years |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Name : |
Mr. Saurabh Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
25 years |
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Qualification : |
MBA |
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Experience : |
2 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter, Trader of shoes, leather goods, sky hooks,
loop fastners, electric tapes, hardeners, and pv adhesives. |
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Products : |
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Imports : |
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Products : |
Leather Goods |
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Countries : |
·
Salvania ·
China ·
Against L/C and CDA |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tandon Mittal and Associates, |
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Address : |
Agra |
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Associates/Subsidiaries : |
Eskay Enterprises, Agra |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.8.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.8.000 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 |
285.000 |
2.797 |
2.686 |
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Net Profit |
3.875 |
3.709 |
3.550 |
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LOCAL AGENCY FURTHER
INFORMATION
Trade Reference:
- Ascot Footwears, Agra
- Park Shoes, Agra/Kolkata
- Jiang Jangdost, China
- Board Company Limited, China
- Malamine, Salvania
Website details:
Their products range starts from Metal Buckles & Trims,
to, Eyelets & Hooks, Nylon Fittings & Rubber Logos, Toe Puff &
Counter Stiffeners, Insole Paper Board, Sky Hooks & Loop Fasteners, Elastic
Tapes, Hardeners & Primers, Holograms, PU and Rubber Adhesives
They are one of the leading suppliers of Shoes Accessories
and components to major Shoe Exporter in India. They have their Head office
located in Agra and branch at Chennai and Kanpur.
About
Us
Subject was established in 1978 as supplier of metal fittings to shoe industry in
Agra. As the time passed they have added comprehensive range of Shoes
Accessories and components of footwear industry. Further they have added two
office in Kanpur and Chennai. Through continuous focus on quality improvements,
reliable services and cost effective solutions for their clients, they have won
the trust and confidence of large number of clients spread across India. They
concentrate on customer satisfaction with quality and try to give our customer
as per his requirement and fashion trends. Their endeavor has enhanced the
value of their products there by increasing business prospects.
Their sourcing agents and suppliers fully understand our penchant for quality
and hence provide them with the materials of superior quality.
They
Offer
The complete range of thei products includes Buckle &
Trims, Eyelets & Hooks, Nylon Fittings & Rubber Logos, Toe Puff &
Counter Stiffeners, Solvent Activated, Heat Activated, Innersole Paper Board
For Shoes, Sky Hooks & Loop Fasteners, Elastic Tapes 8 PU & Rubber Adhesives,
PRS Permacel Nylon Tapes, Hardeners & Primers / Synthetic Leathers &
Linings, Holograms & Logos, Glue Guns & Sticks etc.
Buckles
& Trims
They are meticulously crafted after exploring the trends in
the market. While studying the trends we not only look for the Buckle and trims
but also the shoes in order to have the perfect understanding of the basic
requirements. The buckles and trims are manufactured using finest of metals and
leather that are treated using standard procedure to upgrade their quality.
Eyelets
& Hooks
They manufacture fancy eyelets in various styles, shapes and
designs best suited for all varieties of shoes and boots. The eyelets are
produced using brass, iron and aluminium. The eyelets and hooks are long
lasting and come with perfect finish. They can well absorb colors and hence
complement all designs as a perfect accessory. We can also custom make the
eyelets and hooks to suit their customers' requirements.
Holograms
& Logos
They manufacture and supply special effects holograms and
logos with translucent color background and a holographic silver legend. The
images, wordings, numbers, etc are inscripted using coherent laser light to
present informations with 3D effects. The holograms and logos produced by them
are difficult to counterfeit. Hence they are highly useful in protecting and
enhancing brand image.
Elastic Tapes
They manufacture polyester and nylon elastic tapes that
provide firm support and compression. The tape is ideal for all fastening
purpose. The fabrics are highly refined before they are sent to weave the
tapes. The elastic tapes are very flexible and support 100% contraction and
expansion. They are available in different colors and design and can also be
made as per customers' specifications.
Glue
Gun
Their Glue Guns are engineered for greater productivity and
dependability. They are adhesive applicators designed to bond two materials
quickly and easily. They come with efficient nozzles for precise application
saving the cost incurred in buying expensive adhesives. They also save time and
labor cost required to produce large quantities of product.
Quality
Their quality experts are hard bent to understand and
implement the changing quality norms. They observe the diverse products and the
prevailing standard specifications for them, to ensure that the products
supplied by them is good in terms of quality. They apply all the standard
testing methods in order to ensure that their products attain all the requisite
properties like Free from various Hazardous
chemicals banned by different government in world.
Infrastructure
They use advanced tools and latest CNC machines to
manufacture standard products that meets the requirements of all kinds of shoes
manufacturers. They import the machineries and hardwares form reputed
manufacturers outside India. They frequently add new equipment to upgrade our
existing set up, in order to meet the increasing demands from their customers
for quality products.
Team
The team consists of trained professionals who have honed
their skills through years of experience in the industry. They are great
learners and quickly incorporate the most complex of task into their daily work
schedules. Hence they understand their client's requirements like the back of
their hands.
Their team has a knack for diversity and creativity which fuels their
imagination and enthusiasm to manufacture products that are not only cost
saving but also of outstanding quality.
Customer
Satisfaction
With their customer oriented business philosophy they have
made several successful expeditions into most competitive markets of the world.
They are well disposed to be a market leader by improving and innovating
pioneering products that have exceptionally useful applications for their
customers.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.29 |
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UK Pound |
1 |
Rs.80.72 |
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Euro |
1 |
Rs.57.67 |
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 |
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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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. |
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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