MIRA
INFORM REPORT
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Report Date : |
28.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAIPUR POLO COMPANY |
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Registered Office : |
E28, Connaught Place, New Delhi 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ02272E |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers of Polo Breeches |
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 150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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
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Registered Office : |
E28, Connaught Place, New Delhi 110001, India |
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Tel. No.: |
91-11-23415720/ 23416011 |
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Fax No.: |
91-11-2555180 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
C-100, Sector-2, Noida-201 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4316910/11 |
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Fax No.: |
91-120-2555180 |
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Factory 1 : |
C-100, Sector-2, Noida-201 301, Uttar Pradesh, India |
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Fax No.: |
91-120-2555180 |
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Factory 2 : |
A – 29,Sector 59, Noida, Uttar Pradesh, India |
PARTNERS
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Name : |
Mr. Varun Sharma |
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Designation : |
Partner |
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Age: |
48 years |
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Qualification : |
Post Graduate |
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Experience : |
27 years |
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Name : |
Mrs. Tokie Sharma |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Polo Breeches |
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Products : |
Product Range includes:- Ø Breeches and Jodhpurs – Country, Professional, Competition, Diana, Classic, Chinos, Comfort, Schoolers, Show Circuit and Patrol |
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Brand Names : |
Sigma, Cotton Naturals, Tuffrider, Jaipur Polo Company and Platinum. |
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Exports : |
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Countries : |
Europe and USA |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China, Hongkong, Germany |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
1400 |
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Bankers : |
Ø ICICI Bank Limited, Noida, Uttar Pradesh, India Ø ICICI Bank Limited, Connaught Place, New Delhi 110001, India Ø ICICI Bank Limited, Mayur Vihar, Delhi, India Ø Citi Bank NA, Delhi |
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Facilities : |
The concern is reported to enjoy substantial facilities from its bankers. |
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Banking
Relations : |
Good |
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Affiliates: |
Ø Connaught Services Private Limited, India Ø JPC Equestrian Inc 72, Hillside Drive, Drums, PA 18222, USA Tel No. 91-866-2733243 Fax: 91-570-7085729 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 40.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 40.000 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 |
520.000 |
130.000 |
120.000 |
LOCAL AGENCY
FURTHER INFORMATION
Key Facts:
· Spread over 200000 Square Feet
· Skilled workforce of 1200
· State of Art computer information systems
· 10 millions garments produced since 1992
· Sold in 55 countries
· Guarantee of on time deliveries
· Continuing innovation in textile science
· Development of sophisticated, high performance fabrics.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.18 |
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UK Pound |
1 |
Rs.79.25 |
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Euro |
1 |
Rs.62.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
5 |
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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 |
YES |
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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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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
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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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