MIRA
INFORM REPORT
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Report Date : |
12.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUSHILA GRAMOUDYOG SANSTHAN |
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Registered Office : |
KD – 16, Kavi Nagar, Ghaziabad 201301, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Partnership concern with an unlimited liability of the
Partners |
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Line of Business : |
Manufacturer, Trader and Exporter of Hand Made Fabrics |
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 60000 |
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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 : |
KD – 16, Kavi Nagar, Ghaziabad 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-270080/4310200 |
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Mobile No.: |
91-9810976898 |
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Fax No.: |
91-120-2702766/4310100 |
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E-Mail : |
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Area : |
400 Sq. mtrs. |
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Location : |
Owned |
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Factory 1 : |
C-135, Bulandshar Road, Near Atma Steel, Ghaziabad, Uttar Pradesh,
India |
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Area : |
4500 Sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sunil Kumar |
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Designation : |
Partner [President] |
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Date of Birth/Age : |
43 Years |
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Qualification : |
MBA |
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Experience : |
15 Years |
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Name : |
Mr. Deepak Tyagi |
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Designation : |
Partner [Secretary] |
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Mobile No. : |
91-9868824976 / 9818365032 |
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Date of Birth/Age : |
32 Years |
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Qualification : |
B. Tech PHD |
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Experience : |
8 Years |
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Name : |
Mr. Satish Kumar |
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Designation : |
Partner [Production Manager] |
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Mobile No.: |
91-9810976898 |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Graduate |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Exporter of Hand Made Fabrics |
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Agencies Held : |
Ø Khadi Village
Council |
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Exports : |
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Products : |
Hand Made Fabrics |
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Countries : |
Spain |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
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Particulars |
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Actual Production |
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Hand Made Fabrics |
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As per Demand |
GENERAL
INFORMATION
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Customers : |
Ø Local Customer Ø End Users |
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No. of Employees : |
136 [ In office 16 + In Factory 120] |
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Bankers : |
State Bank of Indore Chandni Chowk, Delhi 110006, India |
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Facilities : |
Rs. 50.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nitin Kumar and Associates Chartered Accountants |
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Address : |
Karol Bagh, New Delhi, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 15.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 15.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
220.000 |
214.500 |
212.500 |
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Profit/Loss for the year |
30.000 |
27.500 |
25.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES
Ø Indian Railways
Ø Para Military Forces
PROFILE:
There
is an inherent desire in them to appear and feel attractive and reside in
beautiful surroundings. In order to satisfy this craving of ours, they can
dress up in gorgeous garments, or enhance the milieu of their interior with
exquisite pillow covers, bedspread, curtains, etc. Subject has created a
benchmark in these products by the virtue of its supreme quality and unmarred
reputation. Their company is a leading and distinguished firm engaged as a manufacturer
and exporter of Khadi Readymade Garments, Gent's Wear,
Ladies Wear, Cushion and Pillow Covers, Bedsheets, Curtains, Towels, etc. They
have also exported their village industry items of jute and fibre to Spain,
with a mission of exporting them to other countries as well. This would enable them
in spreading the usage of khadi and other village industry products on a
worldwide basis.
They
got registered under the society registration act of 1860 in the year 1989,
besides their registration and recognition by Khadi & Village Industries
Commission. Since then, there has been no looking back for them because they
follow the principle of making a difference in the world around them by
bringing about social reformation. Inspired by Gandhian thought of Swadeshi,
under the guidance of Mr. Deepak Tyagi, they have been indulged in the
upliftment of weaker and backward section of the society of rural India. Being
the true followers of the unforgettable Gandhiji, they follow his philosophy of
production by masses instead of mass production. This is the reason behind
their employment of approximately 3500 weavers, spinners and artisans supported
with 450 NMC charkha, 2800 traditional charkha and 250 looms.
Product Range
Being
engaged in a diverse range of traditional products, made from raw materials
like natural fibre of cotton, silk, wool, etc., is quite a challenge. However,
with the faith and support of their customers, they have been successful in
overcoming all the hurdles that have come their way. Due to their high repute
and popularity, today they are eminent manufacturer and exporter of the
following group of products:-
- Khadi
Readymade Garments, Gent's Wear like Shirts, Kurta and Pyjamas,
Ladies Wear including Ladies Tops, Ladies Suits, Silk Garments
- Cushion
Covers, Pillow Covers, Bedsheets, Bedspreads, Doormats, Curtains
- Bath Towels,
Face Towels.
Activities Undertaken by them
- Production of khadi cotton goods and
readymade garments and village industry products.
- Production of handmade paper to produce
various items out of it.
- Providing training to the rural masses
in the areas including: cotton spinning, cotton weaving, gender awareness,
policy advocacy, skill development training, training in tailoring.
- Marketing of goods produced in the
Production and Training Center: identification of new markets, identifying
market needs, identifying market needs, identifying market potentials,
promotion of khadi concept internationally, brand development, design and
product development.
- Promotion of other income generation
activities for its beneficiaries: carpentry and blacksmith.
- Providing free education to spouse of
its beneficiaries.
- Identification of new weavers in the
rural areas.
- Strengthening its showroom at various
places.
Their Infrastructure
They are backed by a state-of-the-art infrastructure in the form of
highly skilled and devoted workforce including a large number of weavers,
spinners and artisans. Their dexterity and creativity assert premium quality
khadi readymade garments, ladies wear, gent's wear, cushion and pillow covers,
bedspreads, towels, etc. Apart from this, machinery is another important and
inseparable part of the infrastructure. These factors assist them in delivering
a flawless and unmarred output.
Quality Quotient
Sushila Gramodyog Sansthan is a quality conscious company and all their
products go through several quality checks before being dispatched to their
final destination. This ensures an impeccable quality product, which asserts
their popularity and prestigious position in this competitive arena. The
evidence of the untranscendent khadi material is its conformation with the
Bureau of Indian Standards specifications. Presently, they are attached to:
- Ministry of Railways (Government of
India)
- Ministry of Defense (Government of
India)
- Ministry of Home (Government of India)
Their other marketing channels includes:
- Showroom at Dasana Village, Ghaziabad
- Showroom at Vijay Nagar, Ghaziabad
- Showroom at Railway crossing, Guldhar,
Ghaziabad.
Specific Objectives of the Organization
Their organization has achieved a place in its swadeshi mission,
yet they have a long way to go with their adherence to the following objectives
:-
- The social objective of providing low
cost gainful employment for masses, especially in rural areas.
- The economic objective of providing
saleable articles and optimum utilization of local resources and
upliftment of social status of rural artisans residing in far flung areas
of villages.
- The wider objective of creative
self-reliance amongst people and building up of a strong rural community
spirit.
- Promote khadi and village products in
the domestic and the international market.
- To develop marketing centers at various
places in India.
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. 39.29 |
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UK Pound |
1 |
Rs. 77.02 |
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Euro |
1 |
Rs. 58.16 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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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