MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
CEELA INTERNATIONAL |
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Registered Office : |
B-11, SSG Complex, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDC00517G |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers of Sport goods, Cricket Balls, Bats, Soccer and others. |
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 22000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct 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 Office/ Factory : |
B-11, SSG Complex, |
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Tel. No.: |
91-181-2651243 / 2650806/ 2650250 |
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Fax No.: |
91-181-2650053 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mohinder Pal |
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Designation : |
Partner |
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Address : |
Jalandhar, |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
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Name : |
Mr. Ashwani Kumar |
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Designation : |
Partner |
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Address : |
Jalandhar, |
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Date of Birth/Age : |
38 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
Note: Other Names are not disclosed – 2 more partners – Sleeping
Partners.
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Sport goods, Cricket Balls, Bats, Soccer and others. |
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Exports : |
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Products : |
Sport Goods |
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Countries : |
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Imports : |
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Products : |
v
Machinery v
Spares |
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Countries : |
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Terms : |
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Selling : |
Cash or Credit (30 days) |
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Purchasing : |
L/C, Cash or Credit (30 days), Sight |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Sport Goods |
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As per Demand |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
154 (Office: 16; Factory: 138) |
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Bankers : |
Oriental Bank of Commerce Jalandhar, |
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Facilities : |
Credit Limit – Rs. 2.500 millions |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.500 millions |
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Borrowed : |
- |
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Total : |
Rs. 5.500 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 |
70.000 |
65.000 |
62.000 |
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Profit/Loss for the year |
2.850 |
2.745 |
2.471 |
Expected Sales (2007-08) : Over Rs. 75.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
Soccer Internation
Kohinoor India
Limited
Website details attached:
Established in 1949 for manufacturing various
kind of Sporting Goods. Their plant is based on an area of 20,000 Sq.ft. They
also have a laboratory for quality control.
Their closely-knit team has developed a comprehensive range of Sporting Goods
to cater the needs of all Sports and Leisure enthusiasts. They are the
manufacturer & exporters of all types of inflatable balls, rugby, soccer
balls, volleyballs and boxing equipments. They take special care in the quality
of products, they manufacture and use appropriate quality of raw materials keeping
their prices to be most competitive, and using modern packing techniques.
Throughout these years with their genuine concern for quality and prompt
delivery they have been able to develop markets for their products throughout
the world and have been able to increase their exports and their company has
won various Export Excellent Awards. The Company at present is successfully
exporting to many foreign countries like
The company has achieved a big annual Export turnover during the last financial
year and expecting the double Target for the current financial year too. The
company anticipates achieving its target by exploring new European, American
and other foreign markets.
(Cricket)
- Cricket Bat
- Batting Legguard
- Batting Gloves
- Wicket Keeping
Legguard
- Wicket
Keeping Gloves
- Cricket Balls
- Clothing
- Arm Guard
- Abdo Guard
- Helmet
- Inner Gloves
- Thigh Guards
- Luggage
- Accessories
- Cricket Sets
BOXING GLOVES
BG-1
Made of fine grade cow hide leather with
white target punch area. Fully moulded form
padding cuff with strap around entire
wrist. Velcro closing. Colour available: red/blue/black
BG-2
Made of quality cow hide leather fully moulded form padding. Wider
cuff strap around entire wrist. Velcro closing.
Colour available: red/blue/ black
BG-3
Made of cow hide leather sponge padded elasticated cuff around the wrist
with velro.
(Boxing)
- Boxing Gloves
- Bag Gloves
- Punching
Speed Balls
- Floor-to-ceiling Speed Balls
- Focus Mitts
- Shin Pad
- Head Guard
- Skipping Ropes
- Other
Boxing Equipment
CRICKET BATS
GOLD
Made from grade 1 English willow with
PREMIER
Best quality English willow of 2 grade and 9 piece oval handle for best
grip shape according to choice pre knock and with toe guard.
ATTACK
Made from English willow grade y2 & y3 best for bignerers with oval
handle for best grips.
SELEC
Plain
SUPER
CLASSIC
Made from
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. 40.96 |
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1 |
Rs. 82.55 |
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Euro |
1 |
Rs. 55.96 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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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. |
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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