MIRA
INFORM REPORT
|
Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DRISH SHOES LIMITED |
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Registered Office : |
Village Rajpura, Bharatgarh Road, Nalagarh, District Solan
- 174101, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.03.1987 |
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Com. Reg. No.: |
06-7337 |
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CIN No.: [Company
Identification No.] |
U45202HP1987PTC007337 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLD11011A |
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PAN No.: [Permanent
Account No.] |
AABCD1758L |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturing and exporting of Shoes and Shoe Uppers, Shoes and Finished Leather, Shoe Components like Soles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 980000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Financial position is satisfactory. Payments are reported as correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. The concern has not field only financial with the government departments after 2006 and the management denied to part the same. |
LOCATIONS
|
Registered Office / Factory : |
Village Rajpura, Bharatgarh Road, Nalagarh, District Solan - 174101, India |
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Tel. No.: |
91-1792-222231 / 32 / 222107 |
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Fax No.: |
91-1792-223226 |
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E-Mail : |
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Website : |
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Area : |
5 acres [Owned] |
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Corporate Office / Factory : |
390 Industrial Area, Phase I, Panchkula - 134 109, Chandigarh |
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Tel. No.: |
91-172-2560830 / 2567275 / 2567434 / 2574753 |
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Fax No.: |
91-172-2565932 |
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E-Mail : |
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Area : |
5 acres [Owned] |
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Branches : |
30, Saidullah Jab, M. B. Road, Opp. D. Block, Saket, New Delhi-110 030, India |
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Tel. No.: |
91-11-6561818/6863543 |
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Fax No.: |
91-11-6855866 |
DIRECTORS
|
Name : |
Mr. Indereshwar
Singh Paul |
|
Designation : |
Managing Director |
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Address : |
House No. 36,
Sector -4, Chandigarh – 160036, UT |
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Date of Birth/Age : |
11.04.1950 |
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Qualification : |
MBA (Switzerland) |
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Experience : |
Manager - Foreign
Business at bank of India's establishment in Europe (7 years), Chief Executive
Bawa Shoe Limited |
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Date of Appointment : |
30.09.1996 |
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Other Directorships: |
Himachal Tanners
Private Limited, India Drish Leathers
Private Limited, India |
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|
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|
Name : |
Mrs. Poonam Paul |
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Designation : |
Director |
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Address : |
House No. 36,
Sector -4, Chandigarh – 160036, UT |
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Date of Birth/Age : |
21.03.1962 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. Atma Ram
Singh |
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Designation : |
Director |
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Address : |
H. No. 5169/2,
Modern Complex, Mani Majra, Chandegarh – 160028, UT |
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Date of Birth/Age : |
27.07.1949 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. Kharak Paul
Singh |
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Designation : |
Director |
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Address : |
H. No. 1898,
Phase V, Mohali, Ropar, Punjab, India |
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Date of Birth/Age : |
13.06.1922 |
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Date of Appointment : |
20.08.1997 |
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Name : |
Mrs. Randeep
Walia |
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Designation : |
Director |
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Address : |
H. No. 1846,
Sector – 340, Chandigarh, UT |
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Date of Birth/Age : |
25.07.1962 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. P Charles Stepheson |
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Designation : |
Director |
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Address : |
IEP Milestone
LLC, 750, 17th Street, NW Suite 1050, Washington DC 20006, USA |
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Date of Birth/Age : |
22.10.1966 |
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Date of Appointment : |
04.02.2002 |
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Name : |
Mr. Jaswinder Pal Singh |
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Designation : |
Director |
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Address : |
H. No. 1674, Sector – 21, Panchkula, Haryana, India |
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Date of Birth/Age : |
21.10.1960 |
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Date of Appointment : |
20.08.1997 |
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Date of Ceasing : |
30.09.2003 |
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Name : |
Mr. Anil Budhiraj |
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Designation : |
Director |
|
Address : |
C-8/17, DLF Phase – I, Gurgaon, Haryana, India |
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Date of Birth/Age : |
08.08.1954 |
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Date of Appointment : |
20.08.1997 |
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Date of Ceasing : |
01.02.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Indereshwar Singh
Paul |
|
2430218 |
|
Poonam Paul |
|
183948 |
|
Caswinder Pal Singh |
|
486552 |
|
Arluwalia Singh Harbinder |
|
835950 |
|
Randeep Walia |
|
679974 |
|
Savita Budhiraj |
|
452104 |
|
Atma Ram Singh |
|
640652 |
|
Kharak Paul Singh
|
|
144394 |
|
Drish Leathers Private Limited |
|
135000 |
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Century Direct Funds [Mauritius] |
|
3952000 |
|
Gangbir Thakur Singh |
|
3000 |
|
Pushpa Walia |
|
3000 |
|
Prabhabati |
|
3000 |
|
Anil Chawla |
|
2208 |
|
|
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Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Venture Capital |
|
19.61 |
|
Bodies corporate |
|
1.80 |
|
Directors of relatives of directors |
|
77.09 |
|
Other top fifty shareholders |
|
1.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and exporting of Shoes and Shoe Uppers, Shoes and Finished Leather, Shoe Components like Soles. |
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Products : |
Ř Shoes and Shoe Uppers Ř Shoes and Finished Leather Ř Shoe Components like Soles |
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Agencies Held : |
Fortuna, Belgium |
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Exports : |
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Countries : |
U.K., Germany, USA, France, Canada, Belgium, Russia, Australia,
Italy, The Netherlands, South Africa, North Africa and South America |
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Imports : |
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Countries : |
Germany and Korea |
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Terms : |
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Selling : |
L/C, Cash and Credit at sight basis |
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Purchasing : |
L/C, Cash basis and Credit. |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed
Capacity |
|
Shoe Uppers |
Pairs |
|
1,000,000 |
|
Full Shoes |
Pairs |
|
270,000 |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
500 |
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Bankers : |
Bank of India Bank Square, Sector – 17-B, Chandigarh - 160017, India |
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Facilities : |
CC – Not Given |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
HCB and Associates Chartered Accountants |
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Address : |
# 1720, Sector 21, Panchkula, Haryana - 134109, India |
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Associates/Subsidiaries : |
v Drish International Private Limited Panchkula, Haryana, India
Line of Business : Manufacturing and exporting of Shoes and Shoe Uppers, Shoes and Finished Leather, Shoe Components like Soles. v Himachal Tanneries Private Limited, India v Drish Leathers Private Limited, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7,464,000 |
Equity Shares |
Rs. 10/- each |
Rs.74.640
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
74.640 |
99.520 |
118.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
172.495 |
162.781 |
175.321 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
247.135 |
262.301 |
293.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
375.034 |
347.616 |
298.600 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
375.034 |
347.616 |
298.600 |
|
|
DEFERRED TAX LIABILITIES |
46.657 |
43.923 |
39.903 |
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|
|
|
|
|
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TOTAL |
668.826 |
653.840 |
631.824 |
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APPLICATION OF FUNDS |
|
|
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FIXED ASSETS [Net Block] |
247.957 |
239.633 |
216.008 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT |
0.210 |
0.821 |
0.711 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
416.477
|
412.676 |
376.181
|
|
|
Sundry Debtors |
46.444
|
30.533 |
53.616
|
|
|
Cash & Bank Balances |
1.322
|
1.508 |
4.368
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
54.187
|
54.840 |
48.648
|
|
Total
Current Assets |
518.430
|
499.557 |
482.813 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
99.385
|
87.555 |
76.113
|
|
|
Provisions |
6.288
|
4.076 |
|
|
Total
Current Liabilities |
105.673
|
91.631 |
76.113
|
|
|
Net Current Assets |
412.757
|
407.926 |
406.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
7.902 |
5.460 |
8.405 |
|
|
|
|
|
|
|
|
TOTAL |
668.826 |
653.840 |
631.824 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
1088.555 |
-- |
953.923 |
|
|
Total Income |
1088.555 |
-- |
953.923 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
38.319 |
-- |
14.051 |
|
|
Provision for Taxation |
0.000 |
-- |
4.043 |
|
|
Profit/(Loss) After Tax |
38.319 |
-- |
10.008 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Total Earnings |
874.556 |
866.618 |
799.764 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
97.492 |
91.047 |
|
|
|
Stores & Spares |
3.080 |
4.870 |
54.964 |
|
|
Capital Goods |
3.507 |
2.867 |
|
|
Total Imports |
104.079 |
98.784 |
54.964 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
Total Expenditure |
1050.236 |
-- |
939.872 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
3.52
|
-- |
1.05
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.52
|
-- |
1.47
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.00
|
-- |
2.01
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
-- |
0.05
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95
|
1.67 |
2.41
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.91
|
5.45 |
6.34
|
LOCAL AGENCY
FURTHER INFORMATION
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80015741 |
|
Corporate
identity number of the company |
U45202HP1987PTC007337 |
|
Name of the
company |
DRISH SHOES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Village Rajpura, Bharatgarh Road, Nalagarh, District
Solan, India |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Bank of India Bank Square, SCO 80-81, Sector – 17-B, Chandigarh - 160017, India |
|
Nature of
description of the instrument creating or modifying the charge |
Recital of the
Bank |
|
Date of
instrument Creating the charge |
20.04.2007 |
|
Amount secured by
the charge |
Rs. 699.084
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 3.50 %
below BPLR Minimum 9.50 % p.a. on EPC/FBP facilities @ 2 % over BOI PLR
Minimum 14.50 % p..a on C/C and T/L facilities and 2 % below BOI BPLR minimum
10.50 % p.a. floating at housing loans or at such other rate as may be
notified to the company by the bank from time to time. Terms of
repayment Repayable on
Demand Margin Nil Extent operation
of the charge 100 % |
|
Short particulars
of the property charged |
Equitable mortgage
over land and building in the name of the company situated at 390, Industrial
Area, Phase I, Panchkula measuring 5815.20 sq. Yds. Village Rajpura Tehsil
Nalgarh District Solan Area 18 Kanal 9 Marlas and Village Rangowal Tehsil
nalagarh, Dist Solan Area 70 Kanal 4 Marlas and Village Musewal Tehsil
Nalagarh Solan Measuring 10 Kanal 13 Marlas for granting credit facilities to
the company from time to time. |
|
Date of latest
modification prior to the present modification |
23.02.2007 |
|
Particulars of
the present modification |
Limit Enhanced
from Rs. 387.834 Millions to Rs. 699.084 Millions. Other terms and conditions
remain the same. |
HISTORY
Subject was incorporated on 29th March 1987 at Panchkula in Haryana having Company Registration Number 7337.
Subject was originally incorporated on 9th March 1987 as a private limited company and converted into a closely held public limited company w.e.f. 1st July 1993.
It is in trade terms with:
v Fibretech Leathers Private Limited, Jalandhar, Punjab, India
v Gabor, Germany
v Manz, Germany
v Lamibel, Italy
v Shoeunion, Germany
v Mahey Chem, Jalandhar, Punjab, India
v Him Leather, Jalandhar, Punjab, India
v Bally, U.K.
v Manz, Germany
v Fortuna, Germany
v Schuh Union, Germany
v Kennel and Schmenger, Germany
v Salamander, Germany
v Elefanten, Germany
v Starte Rite (England)
v Astor Muller, Germany
v Gallus / Lloyd, Germany
AS PER WEBSITE
Profile
A 19-year-old company
manufacturing and exporting top quality finished leather, shoe uppers and shoes
with a phenomenal track record of growth in turnover and profits.
Exporting 97% of
production to toughest, most demanding, premium segment of Asian and European
markets comprising of the who’s who of importers/manufactures like Manz,
Fortuna, Meisi and Mercedes in Germany, Farrutx and Comyor in Spain, Piedro and
House of Labels in Holland, Manas in Italy, Parpia in Singapore and Join Push
and Leeds in Hong Kong.
World class
integrated manufacturing facilities for all manufacturing operations from raw
skin to finished product involving latest imported machines from Europe housed
in 230,000 sq. ft. of built up space. Own state of the art tannery having
production of 10 million sq. ft. per annum. The total capacity in uppers is 1
million pairs p.a. The capacity of shoe plant is 400,000 pairs p.a. and of sole
plant 20,0000 pairs p.a. Their sole making unit is capable of making TPR, PVC,
PVC + Leather, and leather unit soles.
Turnover in 2006-2007 was US$ 25 millions.
Per unit
realization is among the highest in the country in all the three products that
the company makes i.e. Finished Leather, Leather shoe uppers and Leather
Footwear. Company has received for past 11 consecutive years export awards from
the Government nodal agency, Council of Leather Exports. Also received awards
from National Productivity Council and Institute of Marketing and Management.
Professional
promoters with solid industrial experience. Mr. I. S. Paul, Managing Director,
is a merit scholar in M. Sc., having done M. B. A. from IMD, LAUSANNE,
Switzerland. He served for seven years as Manager Foreign Business at Bank of
India’s establishment in India and Europe and joined M/s. Bawa Shoes Limited as
Chief Executive before setting up this company. Appointed on board of SIDBI for
two consecutive terms, as well as on board of State Bank of Patiala.
Very strongly focused on innovation, R & D and Quality Control
having devised a unique system of on-line quality control in which the entire
workforce from the Worker to Senior Managers participate in100% quality checks.
R & D efforts have helped develop soft leathers in Cow Calf and Buff Calf
that are matched by few in the industry.
Manufacturers of
top quality Children’s shoes from age 9 months onwards, Gents’ dress shoes
& very fine quality ladies uppers and ladies comfort shoes. Manufacturers
of, possibly, the best buffalo calf in the world. Article Buffalo Calf Chandi
is best selling leather brand out of India.
Subject was
established in 1988 and has today grown to have a total sales turnover of Rs.
1000 Millions with reserve of Rs. 230 Millions, net worth of Rs. 360 Millions
and assets of Rs. 800 Millions. The company's most important asset is its work
force of 1300 skilled workers and trained leather and footwear technologists.
Drish employs MBAs, C.As, qualified engineers, 15 leather technologists and 12
graduates in Footwear Technology from FDDI, India's premier footwear education
institute. It also constantly sends its personnel for technical training in
India and abroad.
Subject has a
state of the art tannery at Nalagarh manufacturing more than 10,00,000 sq.ft.
of leather per month. The tannery is equipped with tanning & dyeing drums
of various sizes giving it complete flexibility in dyeing lots from 5 sq.ft. to
5,000 sq.ft. in as many as 20 colours per day and can handle full chrome, semi
chrome and vegetable tanning.
All upper
manufacturing is done in two dedicated ancillaries, each making 500 to 800
pairs a day and specializing in different constructions and customers. Hence
one ancillary makes only California uppers, another makes only children uppers
for Jela and another makes only high quality gents uppers for Manz. This
ancillarisation helps in each unit developing expertise as per a particular
customer’s needs and ensures very high standards of quality.
All shoe making
for exports is done in a central unit at Panchkula, which is equipped with BUSM
machines. The total constructed area of the production units exceeds 230,000
sq. ft.
Subject started
its exports in 1988 by selling to one of the most discerning customers, Manz AG
of Germany. At that time the company took the crucial decision of making only
high quality products and based its entire strategy on the belief that it would
be better to work for a few demanding customers rather than be lured by the
attraction of doing low end large volume business. This helped in developing a
system of very stringent quality controls and gave a very firm grounding of
quality consciousness in every employee. With this focus on quality the
capacities kept growing and today the production team can handle very high
production rates and volumes without loosening the hold on quality.
Subject
specializes in making fine grain Cow Calf, Cow Upper Leathers in grains, suedes
and nubuks. A big strength of the company is its ability to procure the best
raw material available in the country. Being located in Northern India, which
is the source of Buff Calf and Cow-Calf skins, has contributed to the company's
ability to make international class leathers. This ability was further enhanced
by the fact that all raw purchase is done under the personal attention of one
of the directors of the company. For heavier leathers the company imports the
raw hides from Europe. In Shoes, the company started its production with Manz,
a 120 years old Gents' shoe brand in Germany. Learning the hard way, Drish now
exports some of the most expensive footwear out of the country. Along-with its
excellence in cement lasted shoes the company has gained expertise in other
constructions like California, Strobel, Cosy and Waterproof shoes. Drish has
acquired special skill in handling children shoes in various constructions and
is producing these for the best European brands like Piedro. Fur lined and
textile lined house shoes in Cosy construction is another specialty. Drish has
also mastered a unique technique of making waterproof Shoes based on Sympatex
and Water-Tex materials. All new developments are assisted by a CAD-CAM system.
Subject is now
bringing its export strength to Indian Market. A separate unit for domestic
market has been set up in Himachal Pradesh. Since Drish does most designs for
export at its studio on CAD/CAM by team of inhouse designers assisted by
foreign designers, contemporary European shoes will be available to domestic
market at the same time or may be earlier, as to European markets. Drish Shoes
are available at better storesin various parts of India.
Distributor of Punjab and Chandigarh
Excellent
Marketing
Tel : 9272950505, 0161-5579505
PUNJAB DEALERS LIST
Ludhiana
1. Sona Footwear - Ghumar Mandi
2. Sun Chasher - Model Town
3. Pahwa Shoe Palace - Ghumar Mandi
4. Shoe Hut - Model Town.
5. Hi-Style - Model Town
6. Vanson - Chaura Bazar
Phagwara
1. Modern Shoes
Jalandhar
1. Over take - Model Town
2. T.T.S. - Opp. Civil Hospital
Hoshiarpur
1. Punjab Boot House - Kashmiri
Bazar
Amritsar
1. The Vouge - Lawrance Road
Patiala
1. Walk N Wear - Adalat Bazar.
2. Scorpio - Nabha Gate
Moga
1. Gupta Shoes - Dutt Road
Muktsar
1. Sukhija Footwear - Sadar Bazar
Chandigarh
1. Thakural Regal - Sector-17
2. Kelson's - Sector-17
3. Arjan Boot House - Sector-20
Mohali
1. Kim Shoes
Distributor of Mumbai
ROYAL TRADING CORPORATION
Tel : 022-23448076
MUMBAI DEALERS LIST
1. Style King Footwear - Vasai Road (W)
2. Big Boss Footwear - Vasai Road (W)
3. Shoe Resort Footwear - Vasai Road (W)
4. Scandal - Bandra
5. Bon-Bon Footwear - Bandra
6. City Walk - Linking Road
7. City Walk - Craw Ford Market
8. City Walk - Colaba
9. City Walk - Grant Road
10. Shoe Bazar - Grant Road
11. Moon Walk - Thane (W)
12. Just Walk - Thane (W)
13. Xellence - Thane (W)
14. Shinde Shoes - Borivali (W)
15. Step In - Borivali (W)
16. Foot Art - Ghatkopar (W)
17. Tropical Footwear Stores - Dadar T.T.C
Distributor of
Kerala
KERALA DEALERS
LIST
Ernakulam
1. Sylcon
2. Shoes & Bags
3. Shoe Bazar
Angamaly
1. Alukkas
Trichur
1. Mayor
2. Footgear
Kottayam
1. Metro
2. Base
3. Goodwill
Changanassery
1. Sangeetha
Thiruvalla
1. Boots Park
Kollam
1. Alukkas
Calicut
1. Ultra Hashion
2. Shoe Mart
Kollam
1. Alukkas
Calicut
1. Ultra Hashion
2. Shoe Mart
Thalassery
1. Soubhagya
Kannur
1. Shoe Mart
2. Soubhagya
Distributor of New Delhi
Silicon
Super Distributor (P) Limited
3/5, 2nd Floor Kirti Nagar,
Indl Area, New Delhi -
NEW DELHI DEALERS LIST
1. South Extn-I - Glamour Shoes
2. Karol Bagh - Glamour Annex; Wings Botique; Wings Shoes
3. Sarojni nagar - Dolphin Shoes; Paul Shoes
4. Kamla Nagar - Classic Collections, Wings, Delco
5. Hauz Khas - Taj Footwear
6. Rojouri Garden - V.Shoes, Delco Shoes
7. Janakpuri - Janak Shoes
8. Lajpat Nagar - Service Shoes Co.
9. Connaught Place - Oasis
10. Paschim Vihar - Jwalahari Market - Royal Steps
11. Vikas Marg - Shoe Park
12. Malviya Nagar - Royal Shoes
13. Greater Kailash-I - Delco
Distributor of Gujrat
Krishna Kishore Corporation
Tel : 9825430002, 22164751
GUJRAT DEALERS LIST
1. Big Boots C.G. Road Ahmedabad
2. Cona Footwear Municiple Market C.G.Road Ahmedabad
3. Chavda shoe company Shilip Building C.G.Road Ahmedabad
4. Chavda Super Mall C.G.Road Ahmedabad
5. Tower shoe Near Raopura Tower Baroda
6. Pantaloon Retail India Limited Inex Multiplex Elora Park Baroda
7. Mayuri shoes Panchbatti circle Bharuch
8. G.T Vikas shoes Near Lal Gate Surat
9. S.C.Traders(shoe mark) Parle Point circle Surat
10. D-lords Near Tata Memorial Hall Navsari
11. Mayur Footwear M.G.Road Navsari
12. Omni shoes Near Mahakali Mandar Rajkot
GOA DEALERS LIST
1. Margao - Eagle Footwear
2. Panji - T&A Collections
Distributor of Banglore
Nityasai Enterprises
Tel : 080-56984870, 55306550
BANGLORE DEALER LIST
Commercial Street
1.
Trendz
2. Regal Shoes
3. Golden Touch Gents Wing
Brigade Road
1. Bolly Wood
2. Sango
3. Shoe Wagon
4. Shoe Track
5. Shoe Maker
Garudamall
1. Shoe Biz
2. Klassic Shoes
Residency Road
1. Bangalore Central
Victoria Layout
1. Life Style
C.M.H.Road
1. Boots
Jayanagar
1. Milton Shoes
2. Sox 'N' Shoes
3. Boots Bazar
Majestic
1. Shoe Arcade
Marathahalli
1. Holly Wood Footwear
Malleshwaram
1. Milton Shoes
2. Shoe Mart
3. Boots Bazar
Rajajinagar
1. Boots Bazar
Basaveshwarnagar
1. Feet Fashion
Vijaynagar
1. Boots Bazaar
Ganganagar
1. Shoe Land
Outstation
1. Mysore - Footline
2. Mangalore - Shoe Kemp
3. Udupi - Shoe Mahal
4. Belgaum - Foot Mark
5. Hubli - Trendz Shoes
6. Chikkamagalore - Gift Land
7. Hassan - Shoe Sagar
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
42 |
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/normal. |
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 |
|