MIRA
INFORM REPORT
|
Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
JAIPUR POLO COMPANY |
|
|
|
|
Registered Office : |
E28, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1992 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ02272E |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturers of Polo Breeches |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern having satisfactory track. Partners are reported as experienced, respectable and having substantial means of their own. Their trade relations are reported as 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. This report is based on an interview with Ms. Mary Anthony (Cell No. 91-9810038341) of the concern. |
LOCATIONS
|
Registered Office : |
E28, |
|
Tel. No.: |
91-11-23415720/ 23416011 |
|
Fax No.: |
91-11-2555180 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
C-100, Sector-2, Noida-201 301, |
|
Tel. No.: |
91-120-4316910/11 |
|
Fax No.: |
91-120-2555180 |
|
|
|
|
Factory 1 : |
C-100, Sector-2, Noida-201 301, |
|
Fax No.: |
91-120-2555180 |
|
|
|
|
Factory 2 : |
A – 29,Sector 59, Noida, |
PARTNERS
|
Name : |
Mr. Varun Sharma |
|
Designation : |
Partner |
|
Age: |
47 Years |
|
Qualification : |
Post Graduate |
|
Experience : |
26 Years |
|
|
|
|
Name : |
Mrs. Tokie Sharma |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Polo Breeches |
|
|
|
|
Products : |
Ø Breeches and Jodhpurs – Country, Professional, Competition, Diana, Classic, Chinos, Comfort, Schoolers, Show Circuit and Patrol |
|
|
|
|
Brand Names : |
Sigma, Cotton Naturals, Tuffrider, Jaipur Polo Company and Platinum. |
|
|
|
|
Exports : |
|
|
Countries : |
Europe and |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
1000 |
|
|
|
|
Bankers : |
Ø
ICICI Bank Limited, Noida, Ø
ICICI Bank Limited, Ø ICICI Bank Limited, Mayur Vihar, Delhi, India |
|
|
|
|
Facilities : |
The concern is reported to enjoy substantial facilities from its bankers. |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Affiliates: |
Ø
Connaught Services Private Limited, Ø JPC Equestrian Inc 72, Tel No. 91-866-2733243 Fax: 91-570-7085729 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 40.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 40.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
130.000 |
120.000 |
130.000 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE:
In 1992 an enthusiastic horseman decided to do something about expensive
synthetic equestrian clothing which damaged not just the pocket but the skin and
environment as well. The time, he realized, was right for apparel which was
comfortable, durable, affordable and stylish and made ecological sense.
This idea led to JPC — the one stop name for quality riding wear at
affordable prices. Today, subject is
the largest manufacturer of riding breeches and jodhpurs in the world.
Led
by TuffRider®,
Jaipur Polo Company™,
Cotton Naturals* and a host of other well-known brands, JPC clothes are sold in
the millions by an international network of retailers in over 50 countries.
Vertically integrated, subject offers quality products, on-time delivery and
innovative fabrics. Their complete, in-house manufacturing facility includes
yarn preparation, knitting, weaving, dyeing, elasticized waistband production,
computerized embroidery, garment making and packaging, giving us the
flexibility to offer customized styles for every market.
They create clothes that combine fun, fashion and function at great value for
the rider.
Quality Policy
To
be a customer-driven organization, through technical innovation, quality
conscious staff, with an objective of zero defect production.
They commit theirselves at all levels of the organization to a quality
system that ensures continuous improvement.
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 exist on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence does 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.34 |
|
|
1 |
Rs. 80.17 |
|
Euro |
1 |
Rs. 55.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|