MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAHYOG INTERNATIONAL |
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Registered Office : |
F3, Phase-7, Focal Point, Ludhiana-141010, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
1996 |
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IEC No.: |
3004011468 |
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TIN No.: [Tax
Deduction & Collection Account No.] |
03181124087 |
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PAN No.: [Permanent
Account No.] |
AFFPM4840J |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Knited Fabrics and Garments – T Shirts
and Women Wears. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajiv Malhotra |
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Designation : |
Propreitor |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office/ Factory: |
F3, Phase-7, Focal Point, Ludhiana-141010, Punjab, India |
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Tel. No.: |
91-161-2678783 |
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Mobile No.: |
91-9815990720 |
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Fax No.: |
91-161-2678783 |
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E-Mail : |
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Website : |
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Area : |
15000 sq. ft ( Owned) |
SOLE PROPRIETOR
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Name : |
Mr. Rajiv Malhotra |
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Designation : |
Proprietor |
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Address : |
Ludhiana |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Knited Fabrics and Garments – T Shirts
and Women Wears. |
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Exports : |
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Products : |
Knited Garments |
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Countries : |
USA and Europe |
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Imports : |
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Products : |
Machinery and Parts and Raw Material |
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Countries : |
Hongkong |
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Terms : |
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Selling : |
Cash and Credit ( 30 Days) |
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Purchasing : |
Cash and Credit ( 30 Days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
118 (Office 18, Factory 100) |
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Bankers : |
Oriental Bank of Commerce, Dhandari Kalan, Ludhiana |
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Facilities : |
Limit Rs. 6.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Naresh K Goel and Company Chartered Accountant |
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Address : |
Ludhiana |
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Associates/Subsidiaries : |
Sidhart Enterprises, Ludhiana |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Proprietors Capital |
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5.000 |
4.850 |
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Secured Loan |
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[5.500] |
0.000 |
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Unsecured Loan |
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0.000 |
5.000 |
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Fixed Assets |
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13.700 |
13.500 |
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Inventories |
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4.000 |
4.765 |
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Cash and Bank Balance |
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2.150 |
1.980 |
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Other Current Assets loans and Advances |
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24.700 |
23.500 |
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Current Liabilities |
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23.800 |
23.000 |
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Miscellaneous Expenses |
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1.075 |
1.012 |
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Sales Turnover |
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80.000 |
68.700 |
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Profit before Tax |
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3.660 |
3.140 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Billabong, USA
- Lee Cooper, Mumbai
- Haggar, USA
AS PER WEBSITE
Profile:
Subject was established in 1999 with the sole objective of manufacturing
and exporting quality knitted fabrics and garments. They are exporting
wide range of knitted garments across the Europe, U.S.A., Middle East and
Canada.
The company has all in house single roof infrastructure for manufacturing all
kinds of knitted garments for ladies, men and children. The garments are
produced with modern and latest machines.
Distinctions:
Managed by well experienced, widely traveled, technical and competent
people having in-depth knowledge of every aspect of garment manufacturing and
export trade.
- All processes
like knitting/dyeing/Garment making and finishing are done on automatic
imported machines of latest technology.
- Fashion
designing with latest trends.
- Able to
handle volume orders and timely delivery.
- Supply as per
buyer's specifications.
- Exercise
strict quality control as per international standards.
- Competitive
prices and easy business terms.
The Products range includes all kinds of fine and heavy Knitted garments
like Polo, T-Shirts, Sweat Shirts, Jogging Suits, Sports Wear, Night Wear,
Pullovers, Cardigans, etc.
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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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 |
5 |
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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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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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