MIRA
INFORM REPORT
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Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
DAWAR FOOTWEAR INDUSTRY |
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Registered Office : |
12.5 K. M. Near Bapu Asaram Ashram, Agra-Delhi Road, Sikandra, Agra – 282 007, Uttar Pradesh, India |
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Country : |
India |
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Financials (as on) : |
31-03-2007 |
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Date of Incorporation : |
1977 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AGRD10186B |
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PAN No.: [Permanent
Account No.] |
AAAFD6003E |
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Legal Form : |
A Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturing & Exporting of Shoes, Uppers (Footwear) |
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 313308 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
This report is based on an interview with Mr. Anil Kumar Jain, Manager (Import - Export) of the concern. Subject is a well established concern having satisfactory track. Partners are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for any normal business dealings at usual trade terms and conditions |
LOCATIONS
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Registered Office/ Head Office : |
12.5 K. M. Near Bapu Asaram Ashram, Agra-Delhi Road, Sikandra, Agra – 282 007, Uttar Pradesh, India |
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Tel. No.: |
91-562-2642801/28021003 |
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Fax No.: |
91-562-2642800 |
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E-Mail : |
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Website : |
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Area : |
13,442 Sq. yards |
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Location : |
Owned |
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Factory 1 : |
Near Bapu Asharam Ashram, 12.5 K. M. Agra – Delhi Road, Sikandra, Agra – 282 007, Uttar Pradesh |
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Tel. No.: |
91-562-2642801/802/803 |
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Fax No.: |
91-562-2642800 |
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Factory 2 : |
Ladies Shoe Division Agra-Mathura Road, Sikandra, Agra – 282007, Uttar Pradesh |
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Tel. No.: |
91-562-642801/2/3 |
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Mobile No.: |
91-9837065440/9837009414 |
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Fax No.: |
91-562-642800 |
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E-Mail : |
pdawar1@sancharnet.in |
PARTNERS
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Name : |
Mr. Puran Chand Dawar (Son of Late Mr. Lalchand Dawar) |
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Designation : |
Partner |
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Address : |
144, Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
54 years |
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Qualification : |
M.A., L.L.B. |
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Experience : |
28 years |
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Name : |
Mrs. Madhu Dawar (Wife of Mr. Puran Dawar) |
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Designation : |
Partner |
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Address : |
144, Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
51 years |
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Qualification : |
B.A. |
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Experience : |
26 years |
KEY EXECUTIVES
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Name : |
Mr. Puran Chand Dawar (Son of Late Mr. Lalchand Dawar) |
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Designation : |
Chief Executive Officer |
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Address : |
144, Bharatpur House, Agra, Uttar Pradesh |
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Date of Birth/Age : |
54 years |
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Qualification : |
M.A., L.L.B. |
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Experience : |
28 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing & Exporting of Shoes, Uppers (Footwear) |
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Exports : |
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Products : |
Ladies & Gents leather shoes, boot & sandals |
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Countries : |
Far East European Countries, Scandinavia, North America, South Africa, Australia, UAE and UK |
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Imports : |
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Products : |
Machineries Soles and Heels |
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Countries : |
Italy, Germany and Slovenia |
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Terms : |
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Selling : |
CAD, L/C and Advance Payment terms |
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Purchasing : |
L/C (60 days) and CAD terms |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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Ladies Shoes |
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2900 Pairs / day |
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Men’s Shoes |
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2000 Pairs / day |
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Uppers |
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1000 Pairs / day |
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GENERAL
INFORMATION
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Customers : |
Wholesalers (Martlys/ Retailers). |
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No. of Employees : |
Factory – 284, Office – 15 & Others – 35. Total – 334 |
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Bankers : |
Bank of India SSI Branch, Sanjay Palace, Agra, Uttar Pradesh Tel No.: 91-562-2354533 Fax No.: 91-562-2353527 |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Mr. Rallau and company Chartered Accountants |
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Address : |
Sanjay Palace, Agra, Uttar Pradesh |
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Memberships : |
· Leather Export Promotion Council, Agra, Uttar Pradesh · SSI Registration No. 20/01/010290/PMT/SSI/01 · CLE – Registration No. CLE/NLF/40268 · Export House – 10780 · National Chamber of Industrial & Commercial UP. No. 650 |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.78.327 millions |
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Borrowed : |
-- |
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Total : |
Rs.78.327 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 |
563.000 |
389.300 |
396.500 |
Expected Sales (2007-08) : Rs.700.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Subject was established in the year 1977 at Agra in Uttar Pradesh as a partnership concern.
This firm was formed in 1981 but started functioning in 1987
The concern is in
trade terms with:-
\ Shroff Sales Corporation, Hingla Mandir, Agra
\ AKS Global Private Limited, Shop No. 34 & 20, Block No. 12, Shoe Market Complex Sanjay Building, Agra
\ Boco Metallic Industries, D-31, Sector 59, Noida, Uttar Pradesh
\ Nikhil Footwears Limited
\ Eskay Sales Corporation, 8/373, Prakarhwanti Place, Hingaki Mandi, Agra, Uttar Pradesh
\ Prachi Leathers Private Limited, C-3 Udhyog Nagar, Kanpur, Uttar Predesh
\ Kaul Brothers, Opposite Bhagrathi Dhaba, Agra – Mathura Road, Sikandra, Agra, Uttar PRedesh
\ Ligmargamma SRL., Via Adriatica 91/93.63018 PORTO SANT ELPIDLO (AP) Italy
\ Mandial Plast SRL 62017 Porto Recanati MC, Italy
\ Sibil 2 SRL, ViA Leonardo Davinci 39/41, 63021 Amando LA (AP), Italy
\ IPR SPA 620/2, Civitanova Marche (MC) Italy
\ Pentthom B. V., Holland
As Per Web Details Attached
Profile:
For more than Two decades, Dawar Group has controlled the Specification, Production,
Distribution and Technical information of footwear technology. "Dawar
Group" was founded in "1977" on the modest scale in the city
Agra. A move to set-up more Units were necessary to cope with the abrupt
increase in the volume of business.As a part of its expansion and
diversification drive, Two manufacturing Units came into existence under the
Group.
DAWAR FOOTWEAR IND:-
Is a Govt. recognized export house engaged in the manufacture & export of
Men's Footwear i.e Classic- Comfort Classic & Sport Line & all type of
Uppers.
DAWAR LSD:-
Is a Govt. recognized export house engaged in the manufacture & export of
Ladies Footwear *Fashion *Comfort *Sporty *Woven Ankled-Mid-Long Boots, Shoes
& Sandals.
Expansion:-
In house production of PU, TPR Soles and Shoes.
Dawar family is a large and growing family. It extends beyond the people who
work for Dawar Group. Their families are also an integral part of it. The Group
shares the hopes and aspirations of its people and their children. It goes out
of its way to reward their hard work and dedication.
"Saksham Dawar Memorial Trust" is a small but significant step in
that direction. Its a child education programme for the children of the
workers. In addition to this, it also provides monetary assistance to a large
number of its worker's children studying in other schools.
The Group also works in association with a number of NGO's to fulfill its other
social welfare commitments. It also organizes regular health check-ups for the
families of its workers. But these efforts are not enough. There is a lot more
that needs to be done. Nobody understands it more than the chairman of the
Group, "Mr. Puran Dawar".
Management:
Mr. Puran Dawar(Chairman)
Dawar Group is led from the front by "Mr. Puran
Dawar", a pro-active veteran from the shoe industry. Mr. Dawar is a widely
travelled person and has been associated with the shoe industry for more than
three decades. He understands the dynamics of shoe business and how it is
conducted in the international market.
With his clear vision and rock solid dedication, he has brought Dawar Group
this far and continues to lead it with missionary zeal.
It is Mr. Dawar's concern for his people and environment related issues that
has endeared him to one and all. A visit to Group's manufacturing facility and
corporate office reflects these concerns.
Mr. Prem Agarwal(General Manager)
Mr. Prem Agarwal , General Manager is a seasoned professional who looks after the day to day affairs of the company.
Success is never a matter of desire, it is the product of hard work and vision.
The phenomenal success of Dawar Group proves it. With effective presence in
more than "40" countries and a turnover exceeding "US$ 10
Million", the group has been growing steadily.
Its success is simply a by product of the implicit faith and confidence its
buyers have in its capabilities. It has never let them down. And that is
because their every requirement is met as per their exact specifications.
Today, the Group exports its footwear to some of the top names in fashion and
footwear business. "United Colours Of Benetton, Lumberjack" etc. are
some of the brands it makes footwear for.
Their product range is exhibited in many prestigious fairs like "Riva Del
Garda (Italy), GDS (Germany) and WSA (USA)".
For them at Dawar every customer, no matter big or small, counts. Whenever
visiting their "Corporate headquarters" in India, each customer is
looked after well. They have even made independent work stations for them to work
with freedom. All the work stations are equipped with modern telecommunication
facilities. They cherish the mutually rewarding relationship they share with
their customers worldwide.
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 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.39.85 |
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UK Pound |
1 |
Rs.82.61 |
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Euro |
1 |
Rs.59.21 |
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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