MIRA
INFORM REPORT
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Report Date : |
16.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHEETAH GARMENTS |
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Registered Office : |
705/2, Indira Nagar, Chandra Puram, Tiruppur – 641603, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1995 |
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PAN No.: [Permanent
Account No.] |
ANBPS8152K |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of fine quality fashion garments for women
and kids. |
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 50000 |
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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 meeting its local
commitments timeously. Trade relations are fair. The concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office/Factory : |
705/2, Indira Nagar, Chandra Puram, Tiruppur – 641603, Tamilnadu,
India |
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Tel. No.: |
91-421-2427670 / 2423955 |
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Fax No.: |
91-421-4252940 |
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E-Mail : |
vsomu@airtelbroadband.in |
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Website : |
www.cheetahgarments.net |
SOLE PROPRIETOR
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Name : |
Mr. V. Somu |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of fine quality fashion garments for women
and kids |
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Products : |
Ř Mens Wear v Casual Garments v T- Shirt v Track Suits v Night Wear v Underwear v Pant v Polo Shirts Ř Ladies Wear v Cotton Dresses v Casual garments v Fashion garments v Skirts v Shirts v Jackets Ř Kids Wear v Baby vest v Cotton jacket v T-Shirts v Knitted Apparel v Infant Rompers v Trouser v Tops |
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Exports : |
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Products : |
Readymade Garments |
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Countries : |
UK, USA, Germany, France and Netherlands |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
Canara Bank, Main Branch, Tiruppur |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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113.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL
ACCEPTANCE CHART
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Parameters |
Detail |
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Existence
Verification |
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Name |
Cheetah Garments |
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Address |
705/2, Indira Nagar, Chandra Puram, Tiruppur – 641603, Tamilnadu,
India |
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Phone / Mobile Numbers |
91-421-2427670 / 2423955 / 4252940 |
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Statutory
Approvals |
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Legal status of firm |
Proprietorship Concern |
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Income Tax Registration |
ANBPS8152K |
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Central Sales Tax Registration |
712925 |
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Service Tax Registration |
CMB 04035D |
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VAT / TIN Registration |
33952385381 |
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Import Export Code |
3203010569 |
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Name of Bank |
Canara Bank, Main Branch, Tiruppur |
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Trade
Affliations |
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SSI Registration |
Yes |
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Export Promotion Council |
Yes |
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Chambers of commerce Membership |
No |
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D and B D-U-N-S Number |
No |
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Government Recognised Export House Status |
No |
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Other Affliations |
Nil |
Profile:-
Concern is one of the leading
manufacturer and exporter of wide array of garments that includes designer
t-shirts, printed t-shirts. Their
complete collection displays a versatile range of cloths for men, ladies
and kids.
Being a professionally managed company, they pay immaculate attention to every
detail of the production from the choice of the raw material to the finishing
of the garments. Their years of
experience and extensive industrial knowledge enables them to comprehend the
needs and taste of their clients. They
have aggressively invested on our infrastructure and have installed
machineries latest finishing machineries. The machineries can handle all types
of fabric and provide optimum result both in weight as well as shrinkage.
They have been witnessing unprecedented growth in our company in short
span of time. They have not only emerged a market competitor, but also have
added several clients. They have consolidated their team, which consists of
skilled artisans and experienced designers. Special attention is paid to
selection of fabrics to design and develop designer garments and meet the
international quality standards to satisfy their clients.
They incorporate all the modern production techniques to improve the look
and life of their products and to make them available at more competitive
prices. They have a well developed manufacturing unit which is divided into
various departments, such as:
- Circular Knitting: They have installed 3 Single Jersey, 2
rib machines, 3 interlock Circular Knitting Machine, which gives ut put of
2500 kgs/day.
- Flat Knitting: They have 3 jacquard collar/cuff knitting
machine, which are capable to knit 3000 pcs/ day.
- Processing Unit: They have installed five imported atmospheric
and one HTHP soft flow dyeing machines with total capacity for 2500
kgs/day. They are equipped with dryers. All processed water are treated in
their effluent treatment plant, which ensures conforming safety
environmental standards. They have own garment washing unit with the
capacity of 5000 pcs/day.
- Finishing: They have calendering, heat setting,
compacting, raising machines which put together handles a tonnage of forty
per day.
- Embroidery: They have installed state-of-the-art imported
embroidery machines, such as two barudan and two tajima. These machines
are capable of handling works like applique, add-on requirements and
boring technology. Punching for embroidery designs are done by our own
facilities and capable of doing 10000 pcs/day.
- Printing: Their printing can easily handle 10 colors
print and has an out put capacity of 10000 pcs/ day and all over printing
capacity of 1000 kilos per day respectively. Different varieties of
printing like Plasticsol, Embossed, Full Coverage, Flock, Foil, Reactive,
Discharge, Glitter Etc., can be printed on our printing machines. After
printing; they have curing as well as fusing machines.
- Sewing: They have three units with total machineries
capacity of 180 nos. Production out put per month is about 25000 pcs. To
optimize our quality standards, computerized pattern (CAD), layer cutting,
needle detectors, vacuum steam iron, stain remover etc., are used.
- Packing: They have corrugated manufacturing factory
with a capacity of 2500 kgs/day.
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 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.42.87 |
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UK Pound |
1 |
Rs.83.41 |
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Euro |
1 |
Rs.66.11 |
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 |
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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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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