MIRA
INFORM REPORT
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Report Date : |
03.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
K.K. NONWOVENS INDIA |
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Registered Office : |
B-18 / 3 Okhla Phase II, New Delhi - 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK06902A |
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PAN No.: [Permanent
Account No.] |
AAGFK7639D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturing and exporting of
non-woven fabrics and pp spun bond. |
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 48000 |
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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
reported as 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 : |
B-18 / 3 Okhla Phase II, New Delhi – 110020, India |
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Tel. No.: |
91-11-26383113 / 14 / 16 /
39486715 / 39486721 |
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Mobile No.: |
91-9811314024 / 9811034504 |
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Fax No.: |
91-11-26383116 |
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E-Mail : |
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Website : |
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Area : |
500 sq mt |
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Location : |
Owned |
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Factory : |
Village Mainland Kala Amb, Nahan Road,
District Sirmour, Himachal Pradesh |
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Tel. No.: |
91-1702-238784 |
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Area : |
1800 sq mt |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Anurag Kalara |
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Designation : |
Main Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Gradate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and exporting of
non-woven fabrics and pp spun bond. |
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Products : |
PP Spunbonded Nonwoven, Thermalbonded Non-Woven, Chemical
Bonding Nonwovens, Needle Punched Nonwovens, Spunlace Nonwovens, Air-Laid
Pulp Nonwovens, Nonwoven Interlining For Garment, Embroidery Materials :
Cotton Nonwoven Fabrics For Embroidery, Viscose Nonwoven Fabrics For
Embroidery, Water Soluble Film For Embroidery, Wipes Non-Woven : Household
Wipes, Industry Wipes, Hygine and Beauty Products Non-Woven : Beauty Facial
Mask, Facial Tissue, Cosmetic Pad Non-Woven, Travel Compress Tissue, Other
Nowoven Products : Bags, Clothes, Caps, Agricultual Cover, Car Cover,
Respirator, Barber Suit, Shoe Cover, Slipper And Pillow Cover, Adult
Incontinence Diaper, Nonwoven Fabrics For Bag And Trunk, Nonwoven Fabrics For
Shoe Material : Breathable Insole, Nonwoven Soft Insole, Chemical Sheet, PU
Leather Fabrics, Lining, Enforcing Fabric Non-Woven. |
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Imports : |
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Countries : |
China and Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
LC, Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by: 35 %
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing, purchase and Import of raw material from open
market. |
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Customers : |
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No. of Employees : |
200 |
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Bankers : |
State Bank of India, Nehru Place, New Delhi – 110019 |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 12.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 12.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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310.000 |
270.000 |
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Profit/Loss for the year |
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11 % |
11 % |
Expected Sales (2007-08):Rs. 350.000
millions
LOCAL AGENCY
FURTHER INFORMATION
Profile
Subject is Indian nonwoven company located at Okhla the Industrial hub of New Delhi the Capital of India. The factory is located at Kala Amb in Himachal Pradesh in an area of 8000 meter square.
The promoters are professional engineers involved with the manufacturing of Non woven Fabrics for the last 15 years. It is their aim to provide all kinds of Non woven solutions to their customers. In their endeavour to achieve this they have already established manufacturing facilities for spun bond Non wovens, Tear away Non wovens and chemically bonded Viscose/PV non wovens.
They also globally source and supply all other nonwovens, TPU tapes, Woven Microdots, Tafetta, Water soluble Backings, Twill , coat Linings, Cap Linings and all other Garment interlinings.
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.39.36 |
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UK Pound |
1 |
Rs.78.29 |
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Euro |
1 |
Rs.58.48 |
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 |
NO |
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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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