MIRA
INFORM REPORT
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Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
HASTSHILPA ART ENTERPRISE |
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Registered Office : |
103-104, Bombay Nagar, Khingra, Jalandhar – 144 003, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Marshal Art products and Sport goods |
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 6000 |
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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. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Punatam Kalia |
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Designation : |
Partners |
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Date : |
17.04.2008 |
LOCATIONS
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Registered Office / Factory : |
103-104, Bombay Nagar, Khurla Khingra, Jalandhar – 144 003, Punjab ,
India |
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Tel. No.: |
91-181-2441323 / 2258441 |
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Mobile No.: |
91-9814646103 |
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Fax No.: |
91-181-2441323 |
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E-Mail : |
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Website : |
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Area : |
5500 Sq.fts |
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Location : |
Owned |
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Corporate
Office: |
S-5, S-Mark
Complex, Opposite, I. D. M. Basti Nau, Jalandhar - 144 003, Punjab, India |
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Tel. No.: |
91-181-5072086 / 2441323 |
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Mobile No.: |
91-9814646103 |
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Fax No.: |
91-181-2400819 |
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E-Mail : |
PARTNERS
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Name : |
Mrs. Sonika Kalia |
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Designation : |
Partner |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
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Name : |
Mr. Punatam Kalia |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Marshal Art products and Sport goods |
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Products: |
· Head Guards · Chest Protectors · Punching Gloves · Training Pads · Martial Art Uniform · Boxing Dresses · Sports Bibs · Punching Bags · Kicking Shields · Shin Guards · Arm Guards · Sports Bags |
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Exports : |
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Products : |
Marshal Art products |
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Countries : |
Australia, UK, Ireland |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Sight, Credit (60 Days) |
GENERAL
INFORMATION
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Customers : |
End Users, Local Customers |
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No. of Employees : |
21 (3 in Office and 18 in Factory) |
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Bankers : |
Punjab National Bank, Jalandhar – 144 003, Punjab, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arun Malhotra and Company |
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Address : |
Jalandhar – 144 003, Punjab, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
---- |
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Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
5.500 |
4.600 |
4.200 |
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Profit/Loss for the year |
0.134 |
0.100 |
0.085 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· Lotto – Australia
· World of Sportstralia
WEBSITE DETAILS:
Sports Accessories
They are a leading sports protective wear manufacturer and supplier. Their accessories are well-prepared and hand finished. These are strong, durable, reliable products available in standard specifications. They can also manufacture products as per customer specifications. Their range of sports clothing use superior quality fabrics and are available in an array of designs and colors. The range products include:
Head Guards
They manufacture head guards in an array of colors and using a variety of material such as leather etc. These boxing head guards are available in various designs such as:
· Shock absorbing foam padded head guard without chin protection
· Guards with chin protection
· High strength shock absorbing guards
· With velcro straps
· Lace-up tie top
· Chin restraint with open face design
· Head guards with heavy cheek protection
· Ear cuff pad and extra pad to protect the back of the head
Their head guards provide excellent protection to all areas of the head and
parts of the face. These guards come with easy to use fasteners for desired
adjustments.
Chest Protectors
They manufacture chest protectors in various sizes and colors. The material used in manufacturing chest protectors are PU and vinyl. Their range of chest protectors are also available in various designs such as contoured, shoulder protection, moulded designs, etc. These are padded with very light and strong or special hi-density foam sheet.
Features
· Available in reversible red, blue colors.
· Some specific models of their chest guards also come with hidden trauma shield.
· These products are high on quality and durability.
Punching Gloves
They manufacture punching gloves of various designs suitable for tough sports like boxing, martial arts etc. These are available in soft leather, etc., for durability and performance. These are available in a range of colors such as blue, red, black, white, brown etc. The range includes:
· Extra comfort boxing Gloves
· Boxing gloves in smaller sizes for younger people
· Traditional styles punching gloves
They also manufacture boxing gloves as per customer specifications. Best
materials and workmanship is used to give the best quality product.
Features
· Boxing gloves padded with rubber foam, moulded pu, cotton etc that absorbs shock even after long use.
· Cotton inner lining to keep hands cool dry and comfortable, offering better grip.
· Vented palm for increased comfort.
· Elastic wrist closure with wide velcro and elastic fastening for extra support.
· Filled with high-density foam and covered in durable vinyl for better shock-absorbing capacity and added durability.
· Traditional lace fastening gloves.
Training Pads
They offer comprehensive range of karate, taekwondo, boxing and thai kick boxing pads at fantastic prices. These ultimate shock absorbing coaching tools are extensively used for personal training of all attack and defense techniques in martial arts. These products are durable, reliable, extremely robust and well manufactured. They offer curved hook and jab pad with curved face and grip bulge inside, large strike shield with curved face.
Their boxing pads are made of high grade cow-hide leather, tough-durable pu, vinyl etc. They are filled with extra strength high density foam, eva, rubber foam, high density u-foam or moulded pu interior to give extra shock absorption, durability and strength.
Kicking Shields
They offer range of kicking shields in various specifications and colors. These offer more protection and shock absorption. It is available in following two sizes:
· The larger ones have five handles, two on the back, one on each side, one on the top side and back handles are made with PVC tubing for a sure grip.
· The smaller, lighter models have back handles.
They also manufacture body shields. Both straps and grip bar are riveted for maximum
durability. Their body shield are available in black, red and blue color. Their
range of body shields is very durable, reliable and effective for training.
They use genuine leather, heavy punylon reinforced vinyl filled with extreme
high density foam, tough eva and rubber foam to provide maximum protection for
the holder and trainee.
Arm Guards
Arm Guards in history are linked to knights, warriors and samurai. They manufacture high quality arm guards, testimony of such toughness and courage. From their cue, they have fashioned some in soft vinyl and pu to provide just enough surface protection from a powerful blow, but remain supple enough for full hand / wrist motion. A range of colour variations is available such as brown and black. Their arm guards come with elastic and velcro fasteners for increased support.
Shin
Guards
They manufacture and export shin guards for both novice and the experienced sportsmen. Their shin guards mold to the shin, fit snugly around the ankle bone and end under the knee. This range is one of the few that can be molded to a great fit for any player.
Features
· They come in various colors and sizes.
· Very light and comfortable to wear.
· Weather proof shin guards.
· Even after biting heat and dust, these products don't loose color and can be easily wiped.
· These offer the players great strength and protection.
· These are used for karate, taekwondo, wushu, thai boxing, kick boxing etc.
Martial Arts Uniforms
They manufacture martial art uniforms for men, kids and teenagers. Their range includes:
· Judo Suits
· Karate Uniform
· Taekwondo Uniform
· KungFu Uniform
· WuShu Uniforms
They use 100% cotton canvas, drill, mattee cloth, cotton blends, polyester
cotton blends, polyester viscose blends, poly satin for their tough,comfortable
and well finished uniforms. These are made of 100% bleached, unbleached or fast
dyeid colour materials. All their martial art uniforms are available in
traditional styles, variable styles, various sizes and standard colour
specifications. Their judo suits are available in heavy, light and medium
weight. Pants are available with draw string waist and elastic waist.
Their martial art uniforms are very comfortable and available in many easy fit
sizes. The fabric is thick and tough, thus durable and lasting. These uniform
designs are manufactured according to different weights as per the drill and
training exercise of the sports involved. Customer logos and designs are
welcome for embroiding or printing patterns. They have an extensive range of
belts and sashes for martial arts sports. The belts are available in solid
colours, stripes and two tone in 100% cotton, poly cotton, poly satin materials
in various width and length sizes.
Boxing Wear
They manufacture complete range of boxing shorts, vests, pants, ponchos, robes in various designs, sizes and colors. Their boxing dresses are available in various material such as original 100% polyester satin, polyamide etc. Their dresses are good value for money as they are robust and well manufactured. These products incorporate the original boxing designs such as the high waist band with elasticated waist and draw string tie.
Features
· Ideal for personal training, running etc, or for use in competitions, these are technically perfect for this athletic sports.
· Their dresses are available in exciting colors such red, blue, black, green, yellow and with side stripes.
· Their boxing dresses come in different sizes.
· They can also customize their products as per customer needs.
Sports Bibs
They manufacture 100% polyester or nylon mesh, windsheeter, terry cot, drill cloth bibs suitable for many different sports such as net ball, basketball, football, hockey etc. They also produce reversible bibs, coloured on one side while plain silver, white or grey on the other. These also come with side elastic and Velcro tabs for a comfortable fit. The various colors available are red, yellow, green, blue, dark blue, light blue etc. Their reversible and non-reversible bibs can also be customized in size and printing.
Punching Bags
They manufacture wide range of punching bags including
standing bags, hanging bags, etc. When its difficult to mount a heavy bag to
the ceiling, their corner bags and standing bags prove to be a very useful
accessory. These are made from leather, heavy pu, heavy vinyl and canvas
punching bags are long-lasting and can be used with bag gloves, boxing gloves
or a bare-fist. They come with medium to heavy fittings for long lasting usage.
Features
· Extremely durable
· Withstand the toughest training regimen.
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Work well for training kicks as well punches.
Sports Bags
Their sports bag are made from strong tetron, nylon or canvas material to give perfect strength, finish and support. Their range of sports bag includes:
· Shoulder Bags
· Duffle Bags
· Round Bags
· Back Packs
· Carry Bags
· Team Bags
There bags are available with wheels,side pockets, front pockets, bottle
pockets, shoe pockets and heavy nylon bases. They use strong nylon fittings and
accessories alongwith muticoloured printing to give their customers a good well
finished, strong and attractive sports bags.
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.39.96 |
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UK Pound |
1 |
Rs.78.66 |
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Euro |
1 |
Rs.63.31 |
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 |
NO |
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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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