MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAHAVIR SPINNING MILLS LIMITED |
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Formerly Name: |
AURO WEAVING MILLS-DIVISION OF VARDHMAN TEXTILES LIMITED |
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Registered Office : |
Post Box 105, Chandigarh Road, Ludhiana – 141 010, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.10.1973 |
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Com. Reg. No.: |
16-3345 |
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CIN No.: [Company
Identification No.] |
L17111PB1973PLC003345 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDM03450G/JLDM03167D |
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PAN No.: [Permanent
Account No.] |
AABCM4692E |
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Legal Form : |
A Public Limited Liability
Company. The company’s shares are listed on the Stock Exchanges |
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Line of Business : |
The company is
engaged in Manufacturing and Sale of Cotton Yarn, Acrylic Yarn, Polyester Sewing
Threads, Steel, Yarn of Synthetic Staple Fibre, Woven Fabric of Cotton and
Alloy Steel Ingots. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS
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PROPOSED
CREDIT LINE |
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71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capacity for payment of interest and principal sums |
Large |
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Maximum Credit Limit : |
USD 54601000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
– established company having fine track. Trade relations are fair. Financial
position is good. Payments are correct and as per commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Post Box 105, Chandigarh Road, Ludhiana – 141 010, Punjab, INDIA |
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Tel. No.: |
91-161-2662543-47
/ 2670707 / 09 |
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Fax No.: |
91-161-2662542 /
2664541 / 2670503 / 2601040 / 2601048 / 2602710 |
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E-Mail : |
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Website : |
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Factories : |
Phagwara Road,
Hoshiarpur – 146 001, Punjab gassed mercerised yarn unit
Phagwara Road,
Hoshiarpur – 146 001, Punjab dyeing & finishing – perundurai unit
Plot No. E – 13 & H – 10, Sipcot Industrial Growth Centre, P. V.
Palayam (P. O.), Perundurai – 638 052 arihand spinning mills
Industrial Area, Malerkotla – 148 023, Sanazur, Punjab anant spinning mills
New Industrial Area, Mandideep – 462 046, Madhya Pradesh vardhman special steels
C-58, Focal Point, Ludhiana – 141 010, Punjab sewing thread – unit ii
Phase VIII, Focal Point, Ludhiana – 141 123, Punjab ARISHT SPINNING MILLS, (DTA-I, II & 100% EOU), BADDI AURO SPINNING MILLS, BADDI, Teh.
Nalagarh, District Solan – 173 205 AURO DYEING , BADDI, Teh. Nalagarh, District Solan – 173
205 AURO WEAVING MILLS, BADDI, Teh.
Nalagarh, District Solan – 173 205 AURO TEXTILES, BADDI, Teh. Nalagarh, District Solan – 173
205 MAHAVIR SPINNING MILLS LIMITED, (Gassed Mercerised Yarn Unit), Phagwara Road, Hoshiarpur – 146 001 MAHAVIR SPINNING MILLS LIMITED, Phagwara Road, Hoshiarpur – 146 001 MAHAVIR SPINNING MILLS LIMITED, (Dyeing & Finishing-Perundurai Unit), Plot No. E-13, & H- 10, SIPCOT, Industrial Growth Centre, P. V.
Palayam Perundurai – 638 052 MAHAVIR SPINNING MILLS LIMITED, (Sewing Thread, Unit-ll), Phase – VIII, Focal Point, Ludhiana – 141 123. VARDHMAN SPINNING AND GENERAL MILLS, (UNIT-I & II), LUDHIANA VARDHMAN SPINNING AND GENERAL MILLS, (100% EOU), BADDI |
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Branches : |
v 30 & 33, Shri
Krishna Centre, 1st Floor, Near Mithakhali Six Road, Navrang Pura,
Ahmedabad-380 009 v No. 15, H.
Siddiah Road, Bangalore-560 027 v S.C.O.1,2 & 3,
Sector-17B, Chandigarh-160 017 v 36/2303, D &
K, Ammankovil Road, Ernakulam (Cochin)-682 035 v 832, Phase-V,
Udyog Vihar, Gurgaon-122 016 v 3-6-270/2,
Himayat Nagar, Opposite Telugu Academy, Hyderabad-580 029 v Plot No.141, Pipila
Road, A.B. Road, lndore-452 001 v B-34, Sangam
Bhawan, Vijay Path, Titek Nagar, Jaipur-302 004 v 84/55, G.T. Road,
Near Zarib Chowki, Next to Bankey Bihari Dham Banquet Hall, Kanpur-208 003 v P-22, 3rd Floor,
Flat No. 6, C.I.T. Road, Scheme-IV, Kolkata-700 014 v
55, Canal East Road, Belighatta, Kolkata-700 085 Chandigarh Road,
Ludhiana-141 010 v 314, Solaris-ll,
Opp. L&T Gate No. 6, Saki Vihar Road, Andheri (East), Mumbai-400 072 v Solaris-ll,
Universal Industrial Estate, Gala Number G-7 To G-14 & B-12 to B-14, Saki
Vihar Road, Andheri (East), Mumbai-400 072 v C-40 & 42,
Okhla Industrial Area, Phase-ll, NewDelhi-110020 v 212, Deen Dayal
Upadhyaya Marg, Urdu Char, 1st Floor, New Delhi-110 002 v 5th Floor, Plot
No. 19, Sagar Plaza Building, Laxmi Nagar, District Centre, New Delhi-110 092
, v 310, Surya Kiran
Building, 19, Kasturba Gandhi Marg, New Delhi-110 001 v B-47, Sector-6,
Noida-201 301 v Mezzanine Floor,
Abhishek Plaza, Exhibition Road, Patna-800 001 v Realty
Warehousing, Gat No. 2323/1, Wagholi, Pune-411 014 v Jyoti Sangam
Lane, Upper Bazar, Ranchi-834 001 v
No-40-LRG Layout, Narayan Knitting Mills Compound, Kongu Nagar
Extension, Tirupur-638 607 v
377-B, Muthuswami Industrial Complex, Palladam Road, Tirupur |
DIRECTORS
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Name : |
Mr. Shri Paul
Oswal |
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Designation : |
Executive Chairman & Managing Director |
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Age: |
63years |
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Qualification: |
M. Com. |
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Experience: |
38 years |
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Date of
Appointment: |
01.11.2001 |
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Name : |
Mr. Darshan Lal
Sharma |
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Designation : |
President & Executive Director |
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Name : |
Mr. Tilak Raj
Bajalia |
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Designation : |
Nominee Director of IDBI |
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Name : |
Mr. Vinod Kumar Saxena |
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Designation : |
Nominee Director of IDBI |
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Name : |
Mr. Ajay Kumar
Chakraborty |
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Designation : |
Nominee Director of ICICI |
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Name : |
Mr. Yesh Pal
Gupta |
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Designation : |
Nominee Director of UTI |
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Name : |
Mr. Dr. Jagdish
Chander Bakshi |
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Designation : |
Director |
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Name : |
Mr. Prafull
Anubhai |
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Designation : |
Director |
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Name : |
Mr. Dr. Triloki
Nath Kapoor |
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Designation : |
Director |
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Name : |
Mr. Sachit Jain |
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Designation : |
Executive Director |
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Age: |
39 Years |
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Qualification: |
B. Tech., MBA |
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Experience: |
15 Years |
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Date of
Appointment: |
30.03.2005 |
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Name : |
Mrs. Suchita Jain |
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Designation : |
Executive Director |
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Age: |
37 Years |
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Qualification: |
M. COM |
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Experience: |
12 Years |
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Date of
Appointment: |
30.03.2005 |
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Name : |
Mr. Subash
Khanchand Bijlani |
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Designation : |
Director |
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Name : |
Mr. Surendar
Kumar Bansal |
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Designation : |
Director |
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Name : |
Mr. Shakun Oswal |
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Designation : |
Additional Director |
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Name : |
Mr. A KParwar |
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Designation : |
Additional Director |
KEY EXECUTIVES
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Name : |
Mr. Vipin Gupta |
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Designation : |
Company Secretary |
BUSINESS DETAILS
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Line of Business : |
The company is engaged
in Manufacturing and Sale of Cotton Yarn, Acrylic Yarn, Polyester Sewing
Threads, Steel, Yarn of Synthetic Staple Fibre, Woven Fabric of Cotton and
Alloy Steel Ingots. |
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Products : |
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Exports : |
v
Hong Kong v
Japan v
South Korea v
Australia v
New Zealand v
Europe |
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Imports from : |
Germany |
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Terms : |
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Purchasing : |
L/C terms |
GENERAL
INFORMATION
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No. of Employees : |
1000 |
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Bankers : |
v
Bank of
Baroda, Ludhiana, Punjab v
State Bank
of Patiala v
Punjab
National Bank v
Union Bank
of India v
State Bank
of India v
Bank of
America v
Bank of
Baroda v
Allahabad
Bank v
Deutsche
Bank v
BNP Paribas v
Canara Bank v
Corporation
Bank |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors : |
S C Vasudeva
& Company, New Delhi |
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Qualification: |
Chartered
Accountants |
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Branch Auditors : |
S. S. Kothari
& Company, New Delhi |
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Qualification: |
Chartered
Accountants |
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Associates : |
Marubeni
Corporation Marubeni Textile
Asia Limited Vardhman Textile
Components Limited Vardhman Spinning
& General Mills Limited Vardhman Polytex
Limited |
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Subsidiaries: |
v
VMT Spinning
Company Limited Chandigarh Road, Ludhiana – 141 010,
Punjab The company started its commercial
production on 21st September, 1996. v
Vardhman
Acrylics Limited Chandigarh Road, Ludhiana – 141 010,
Punjab v
Vardhaman
Threads Limited Chandigarh Road, Ludhiana – 141 001,
Punjab v
VKM
Colourspin Limited Chandigarh Road, Ludhiana – 141 001,
Punjab |
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Other Companies: |
v Vardhman Holding
Limited v Banarso Devi
Oswal Public Charitable Trust v Adinath
Investment & Trading Co. v Srestha Holdings
Limited v Flamingo Finance
& Investment Co. Limited v Marshall
Investment & Trading Co. (P) Limited v Plaza Trading Co.
(P) Limited v Anklesh
Investments (P) Limited v Vardhman Apparels
Limited v Sri Aurobindo
Socio Economic and Research v Management
Institute v Devakar
Investment & Trading Co. (P) Limited v Santon Finance
& Investment Co. Limited v Ramaniya Finance
& Investment Co. Limited v Pradeep
Mercentile Co. (P) Limited v Vardhman Textile
Processors (P) Limited v
Syracuse Investment & Trading Co. (P) Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
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1,00,00,000 |
Redeemable
Cumulative Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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57770000 |
Equity Shares |
Rs. 10/- each |
Rs. 577.700 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
577.700 |
577.700 |
257.500 |
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3] Reserves & Surplus |
10342.500 |
9039.000 |
7618.100 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10920.200 |
9616.700 |
7875.600 |
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LOAN FUNDS |
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1] Secured Loans |
14606.200 |
8310.700 |
6715.000 |
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2] Unsecured Loans |
2636.500 |
2711.500 |
780.800 |
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TOTAL BORROWING |
17242.700 |
11022.200 |
7495.800 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28162.900 |
20638.900 |
15371.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11779.100 |
9410.800 |
7575.700 |
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Capital work-in-progress |
5407.200 |
964.800 |
645.000 |
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INVESTMENT |
687.500 |
683.800 |
957.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6958.500
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5689.900
|
5269.300 |
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Sundry Debtors |
2524.100
|
2220.400
|
2084.200 |
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Cash & Bank Balances |
2167.300
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2715.500
|
227.200 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
5075.300
|
3879.600
|
2674.800 |
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Total Current Assets |
16725.200
|
14505.400
|
10255.500 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
3832.000
|
2563.100
|
2342.900 |
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Provisions |
2604.100
|
2362.800
|
1719.000 |
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Total Current Liabilities |
6436.100
|
4925.900
|
4061.900 |
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Net Current Assets |
10289.100
|
9579.500
|
6193.600 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28162.900 |
20638.900 |
15371.400 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
21500.900 |
19572.500 |
19313.700 |
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Other Income |
371.600 |
512.600 |
272.500 |
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Total Income |
21872.500 |
20085.100 |
19586.200 |
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Profit/(Loss) Before Tax |
2255.700 |
2504.400 |
1595.700 |
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Provision for Taxation |
538.700 |
541.200 |
388.100 |
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Profit/(Loss) After Tax |
1717.000 |
1963.200 |
1207.600 |
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Expenditures : |
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Manufacturing Expenses |
2572.900 |
2192.400 |
1958.000 |
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Administrative Expenses |
1406.300 |
1776.300 |
1585.600 |
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Raw Material Consumed |
9585.500 |
8020.700 |
8799.200 |
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Excise Duty |
636.000 |
666.900 |
659.500 |
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Increase/(Decrease) in Finished Goods |
(282.800) |
(152.200) |
128.200 |
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Salaries, Wages, Bonus, etc. |
1270.600 |
1101.700 |
996.200 |
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Interest |
408.300 |
422.300 |
590.900 |
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Depreciation & Amortization |
1194.500 |
1013.400 |
970.100 |
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Other Expenditure |
2825.500 |
2539.200 |
2302.800 |
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Total Expenditure |
19616.800 |
17580.700 |
17990.500 |
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QUARTERLY /
SUMMARISED RESULTS
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PARTICULARS |
30.06.2007 |
30.09.2007 |
31.12.2007 |
31.03.2008 |
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Type |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
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Sales Turnover |
5275.500 |
5661.000 |
6119.000 |
5794.800 |
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Other Income |
59.900 |
115.600 |
94.000 |
155.600 |
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Total Income |
5335.400 |
5776.600 |
6213.000 |
5950.400 |
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Total Expenditure |
4379.500 |
4778.100 |
5218.400 |
5025.200 |
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Operating Profit |
955.900 |
998.500 |
994.600 |
925.200 |
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Interest |
165.400 |
130.900 |
124.700 |
217.900 |
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Gross Profit |
790.500 |
867.600 |
869.900 |
707.300 |
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Depreciation |
346.000 |
353.900 |
375.400 |
470.300 |
|
Tax |
14.000 |
30.000 |
(36.500) |
7.900 |
|
Reported PAT |
310.500 |
373.700 |
401.000 |
140.200 |
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt-Equity Ratio |
1.38 |
1.06 |
0.98 |
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Long Term Debt-Equity Ratio |
1.16 |
0.77 |
0.59 |
|
Current Ratio |
1.98 |
1.76 |
1.52 |
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TURNOVER RATIOS |
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Fixed Assets |
1.11 |
1.21 |
1.70 |
|
Inventory |
3.40 |
3.57 |
4.16 |
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Debtors |
9.06 |
9.09 |
11.36 |
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Interest Cover Ratio |
6.52 |
6.22 |
3.70 |
|
Operating Profit Margin(%) |
17.95 |
18.61 |
16.34 |
|
Profit Before Interest And Tax Margin(%) |
12.39 |
13.43 |
11.32 |
|
Cash Profit Margin(%) |
13.54 |
14.03 |
11.28 |
|
Adjusted Net Profit Margin(%) |
7.99 |
8.85 |
6.25 |
|
Return On Capital Employed(%) |
10.92 |
14.60 |
17.12 |
|
Return On Net Worth(%) |
16.72 |
19.81 |
18.75 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Incorporated in Oct.'73, Mahavir Spinning
Mills (MSML) was promoted by Vardhaman Spinning and General Mills and is
managed by Chairman Paul Oswal. The first plant was commissioned in 1975 with
25,088 spindles in Hoshiarpur, Punjab.
The company's subsidiaries are VMT Spinning Company Limited (VMT), Vardhman
Threads Limited(VTL) and Vardhman Yarns & Threads Limited.
In 1977-78, the company set up a 25,000-spindle textile mill at Malerkotla in
Sanazur, Punjab. MSML is into the spinning of cotton, staple, acrylic and
acetate yarn and sewing thread. The company took over an ailing mini-steel
plant and renamed it Vardhaman Steels. It exports yarn to 20 countries
including Hong Kong, Japan, South Korea, Australia, New Zealand, Europe and
others.
In 1992-93, the company commissioned a 100% EOU at Mandideep. The EOU at
Mandideep and the spinning unit at Malerkotla were awarded the ISO 9002/BIS
14002 by Bureau of Indian Standards (BIS). Its gassed and mercerised dyed yarn
project at Hoshiarpur commenced commercial production in Mar.'95.
The company has entered into a joint venture agreement with Marubeni
Corporation and Toho Rayon, Japan, for setting up a 100% EOU at Baddi, Himachal
Pradesh. It floated a separate entity called Vardhman Acrylics Limited(VAL) for
executing the above project. Commercial production of this project commenced on
Sep.'96. During 1998-99, the third 100% EOU at Mandideep with an installed
capacity of 25000 spindles was flagged off for production.
Expansion of Sewing Thread
capacity by addition of unit-II at Ludhiana with a capacity of 5 TPD
implemented in two phases , the first phase with a capacity of 2.5 TPD has
commenced production. Further Unit-V with a capacity of 24192 spindels to
produce fine counts meant for Gassed Mercerised Unit started commercial production.
The Company is also undertaking expansion and technological upgradation of the
existing spinning unit at Malerkotla. To manufacture superior sewing thread
under their brands of PERMASPUN,D-CORE and PERMACORE the company has signed a
agreement with Amercian & Effird Inc., USA.
The Textile business of Vardhman Spinning and General Mills Limited (VSGM) was
vested into the company with effect from 1st April 2004 and the manufacturing
units belonging to VSGM is now part of the company. According to the scheme the
company has allotted 12,763,064 equity shares Rs.10/- each to the shareholders
of VSGM in the ratio of eight shares for every ten shares of VSGM held. As a
result of this allotment the paid-up equity capital of the company has
increased to Rs. 385.130 Millions .
In September 2005 the company has issued bonus equity shares to its equity
shareholders in the ratio 1:2.
During 2004-05 the company has increased its installed capacity of Spindles and
Rolled products by 158392 Nos and 14400 MT respectively. With this expansion
the total installed capacity of Spindles and Rolled Products has increased to
468688 Nos and 80400 MT. Further the company has installed new capacities of
Looms and Rotors with a capacity of 264 Nos and 528 Nos respectively.
Management
Discussion and Analysis Report:
a) CHANGE IN THE NATURE OF BUSINESS :
Pursuant to the Scheme of Arrangement and Demerger between Vardhman Spinning and General Mills Limited (Transferor Company) and Mahavir Spinning Mills Limited (Transferee Company) as sanctioned by the Hon'ble Punjab and Haryana High Court vide its Order dated 4th March, 2005, the textile business of the Company was demerged to Mahavir Spinning Mills Limited with effect from 151 April, 2004. Pursuant to the said demerger, the Company is left with assets other than that related to textile business, which mainly comprise of investments
in the shares of the Group companies. The name of the Company was, therefore, changed from 'Vardhman Spinning and General Mills Limited' to 'Vardhman Holdings Limited' with effect from 27th March, 2006. The Objects Clause of the Memorandum of Association was also amended so as to delete the objects pertaining to textile business and to adopt the objects relating to financial and investment activities. During the year, in accordance with the Scheme of Arrangement and Demerger, the shareholders of the Transferor Company were
issued/allotted 8 shares of the Transferee Company and 2 shares of the Transferor Company for every 10 shares held in the Transferor Company on the Record Date fixed for the purpose. Accordingly, the Company issued 31,91,536 equity shares of Rs. 10/- each in lieu of the retained shares in the Company.
Trade Terms
v Bhagwan Chemicals, Faridabad, Haryana
v Himalya Phytochemicals, Khanna
v Joglekar Refractories, Mumbai
v Shriram Lime Products, Jodhpur
v Sahni Lines, Kharar
v S. R. Jindal Metals
SCHEME OF ARRANGEMENT & DEMERGER BETWEEN VARDHMAN
SPG. & GEN. MILLS LIMITED AND MAHAVIR SPINNING MILLS LIMITED:
During the year, a Scheme of Arrangement and Demerger between Vardhman Spinning and General Mills Limited (VSGM) and Mahavir Spinning Mills Limited (MSML) was formulated. The Scheme was duly approved by the Creditors and Members of the respective companies in their Court convened Meetings held on 11 th December, 2004 and the same was got duly sanctioned by the Hon'ble Punjab & Haryana High Court vide its Order dated 04.03.2005. As per the Scheme, the textile business of VSGM stands vested with the Company w.e.f. 1st April, 2004.
Accordingly, the following manufacturing units, belonging to VSGM, now form part of the
Company:-
1. Auro Spinning Mills, Baddi.
2. Auro Dyeing, Baddi.
3. Auro Weaving, Baddi.
4. Auro Textiles, Baddi.
5. Vardhman Spinning and General Mills (100% EOU), Baddi.
6. Vardhman Spinning and General Mills (Unit-l), Ludhiana.
7. Vardhman Spinning and General Mills (Unit-ll), Ludhiana.
MANAGEMENT DISCUSSION AND
ANALYSIS REPORT:
Textile Business:
The Indian Textile Industry
has passed through a tough operating environment during the last many years.
However, the fortune of the industry is looking up in view of the phasing out
of quantitative restrictions and integration of trade in textile and clothing
with WTO. The Government has also initiated policy reforms in the textile industry,
thus creating a level playing field for organized textile producers like the
Company. The trade data indicates impressive growth of textile and clothing
exports to major importing countries like USA & European countries. The
domestic market has also recorded healthy growth. As a result, the investment
environment in the Industry has considerably improved. However, the price
pressure both in domestic and international market continues, leading to lower
profit margins. The input costs particularly the power and personnel cost
continue to increase at a fast pace. The growing input costs pose a major
challenge to the competitiveness. At the same time most of the organised
players including the Company have chalked out ambitious growth plans for
capacity expansion and additions to the product portfolio.
The Company's main raw material is
cotton and cotton yield in the country is amongst the lowest in the world. In
the past years, due to the efforts made by the Company alongwith other members
of the Textile industry and the Government, the cotton yield has been
increasing and the country had back to back bumper cotton crops. In the current
financial year too the indications are that the area under cotton cultivation
is likely to increase as also the yield so the cotton supply position should
remain comfortable.
The Company has chalked out an
Expansion-cum-Modernization Plan of Rs. 23000 Millions (approx.). This will help it expand
capacities in the major businesses of yarn and fabrics. With the proposed
expansions, the finished fabric production will increase by 60 million meters
per annum. Similarly, the spinning capacity will increase by about 0.250
Millions spindles. This will give it an opportunity to serve the customers with
larger volumes, wider product portfolio and more sophisticated products. The
proposed expansion will put the Company on steady growth path, which will
enable us to fulfill expectations of various stakeholders.
Steel Business:
The Steel Division of the Company has
focus on Alloy and Special Steel. This caters to the demand of Automobile
Sector, Forging Industry and Special Steel users in the Capital Goods Industry.
The growth in Automobile Sector and Auto Component Sector is likely to create
increase in demand for these varieties of Steel. The Steel business has
performed well this year but not as well as last year when the Company got the
benefit of rising prices and heavy inventory gain.
Management perception of Risk
& Concern:
They perceive risk on four accounts
mainly. First, is the price of the raw material, which is cotton in their case.
Having a significant share in value of output, the cotton price has a major
impact upon the profitability. It is matter of great satisfaction that the
cotton crop in the country has been growing on account of increased
productivity and increasing area under cotton cultivation. Through CII, they
are also making efforts to impart necessary training to the cotton growers
about scientific cotton cultivation practices to improve cotton yield, which
has started paying dividends in terms of higher productivity. For instance,
during the current year, there is a clear indication of the revival of cotton
production in Punjab. Their second risk perception is about the conversion cost
especially the energy cost, which is higher than other competing countries like
Pakistan, Bangladesh, China etc. They are adopting energy saving and
optimization measures to keep the energy cost under control. Third, with
phasing out of quota system, the intensity of competition in the domestic and
international market is likely to increase. This will put pressure on product
prices and profitability. Fourth, the Company has undertaken a Massive
Expansion Plan. Executing this expansion plan and then stabilizing the
operations will require a lot of management efforts and so there is the project
execution risk. However, the Company is taking all possible steps to see that
the potential downside from the risks is reduced.
Human Resources/Industrial Relations:
The Company continues to lay
emphasis on building and sustaining an excellent organisation climate based on
human performance. Performance management is the key word for the Company.
During the year, the Company employed over 15,900 employees.
CORPORATE GOVERNANCE:
The Company has in place a system of Corporate Governance. A separate report on Corporate Governance forming part of the Annual Report of the Company is annexed hereto. A certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under Corporate Governance Clause of the Listing Agreement is annexed to the report on Corporate Governance.
FIXED ASSETS:
v Freehold Land
v Leasehold Land
v Buildings
v Plant and Machinery
v Furniture and Fixtures
v Vehicles.
AS PER WEBSITE:
In India, Vardhman is synonymous with threads. Not just threads for clothes, but for furnishings, wallets, hand bags, suitcases, shoes, car upholstery, tents, industrial applications and even kite-flying.
In each case, users' demands differ. Designers expect strength in some threads, strength and finish in another, the qualities of fusion in a third. A leather craftsman expects a completely different combination of attributes. An automobile manufacturer spells out another set of specifications. So does the little boy on the rooftop, the kite flyer.
Reputed manufacturers and buying houses prefer Vardhman because of its unswerving commitment to quality and service. The company fulfils IS/ISO 9001:2000 requirements and the products manufactured are azo free. They meet Oeko-Tex Standard 100 under stringent environmental norms. Sheer technical competence and service makes Vardhman India's one and only flag bearer in threads.
Besides, Vardhman covers vast ground: cotton, polyster, core spun (polyester cotton/ polyester polyester), trilobal embroidery thread, bonded nylon and lubricated nylon thread including specialized threads like button fusing, bead fusing and anti wicking, button shanking, indigo dyed and so on.This enormous collection from Vardhman has a single purpose:
MISSION:
Vardhman
aims to be world class textile organization producing diverse range of products
for the global textile market. Vardhman seeks to achieve customer delight
through excellence in manufacturing and customer service based on creative
combination of state-of-the-art technology and human resources.Vardhman is
committed to be responsible corporate citizen.
BUSINESS
PORTFOLIO
Yarns
Yarn Manufacturing is the major activity of the group
accounting for 65 percent of the group turnover. Vardhman is virtually a
supermarket of yarns, producing the widest range of cotton, synthetics and
blended, Grey and Dyed yarns and Hand Knitting Yarns, in which Vardhman is the
market leader in India. The group has nine production plants with a total
capacity of over 0.550 Millions
spindles, spread all over the country. In many of the yarn market
segments, Vardhman holds the largest market share. Vardhman is also the largest
exporters of yarn from India, exporting yarns worth more than USD 90 million.
Sewing Thread
Vardhman is the second largest producer of sewing thread in the country. The sewing thread manufacturing capacity is being expanded from present 17 tons per day to 22 tons per day in its sewing thread plants located at Hoshiarpur, Baddi and Ludhiana. Sewing threads contributes 12 percent of the group turnover.
Fabrics
The group has created state-of-the-art fabric weaving and processing facilities in its plant at Baddi, Nothern India. The group has installed 208 shuttleless looms and a fabric processing capacity of 30 million meters per annum in collaboration of Tokai Senko of Japan. Fabrics business contributes 8 percent to the group turnover.
Fibre
The group has recently set up an Acrylic Staple Fibre plant
at Bharuch in Gujrat in collaboration with Marubeni and Japan Exlan of Japan.
The plant has annual capacity of 18000 tons per annum. Fibre contributes 8
percent to the total turnover of the group.
Steel
The Group is also present in upper-end of the steel
industry. The group has manufacturing capacity of 100000 tons of special and
alloy steel. The group supplies its steel products to some of the most
stringent quality steel buyers like Maruti and Telco. It contributes 6 percent
to the total turnover of the group.
BRIEF HISTORY:
The industrial city of Ludhiana, located in the fertile Malwa region of Central Punjab is otherwise known as the "Manchester of India". Within the precincts of this city is located the Corporate headquarters of the Vardhman Group, a household name in Northern India. The Vardhman Group, born in 1965, under the entrepreneurship of Late Lala Rattan Chand Oswal has today blossomed into one of the largest Textile Business houses in India.
At its inception, Vardhman had an installed capacity of 14,000 spindles, Today, its capacity has increased multifold to over 0.550 Millions spindles. In 1982 the Group entered the sewing thread market in the country which was a forward integration of the business. Today Vardhman threads is the second largest producer of sewing thread in India. In 1990, it undertook yet another diversification - this time into the weaving business. The grey fabric weaving unit at Baddi (HP), commissioned in 1990 with a capacity of 20,000 meters per day, has already made its mark as a quality producer of Grey poplin/sheeting/shirting in the domestic as well as foreign market. This was followed by entry into fabric processing by setting up Auro Textiles at Baddi, which currently has a processing capacity of 0.100 Millions metres/day.
In the year 1999 the Group has added yet another feather to its cap
with the setting up of Vardhman Acrylics Limited., Bharuch (Gujarat) which is a
joint venture in Acrylic Fibre production undertaken with Marubeni and Exlan of
Japan. The company also has a strong presence in the markets of Japan,
Hongkong, Korea, UK and EU in addition to the domestic market. Adherence to
systems and a true dedication to quality has resulted in obtaining the coveted
ISO 9002/ ISO 14002 quality award which is the first in Textile industry in
India and yet another laurel to its credit.
TECHNICAL SERVICE CELL:
In the rapidly changing business & technological scenario, it is important for specialist support in different area of manufacturing. At Vardhman they endeavor to fulfill these roles by providing a well-structured and systematic approach for identifying customer needs and translating the same into products characteristics.
Shop Floor Studies:
Shop floor studies are carried out by qualified textile technologist for assessing thread performance and relative productivity differentials in using different types of threads. For enhancing of stitching room performance w can also undertake specific projects for achieving higher productivity, reducing wastage, thread calculation etc.
Technical Seminars
Thread Education Seminars are part of their value added services, during this class room study they talk of importance of using a right quality of thread, different application of thread for different fabric and sewing applications, and solutions for problems faced during sewing operations like Puckering/skip stitches/thread breakages/seam slippage.
Better understanding of the basic sewing applications..
Basic sewing machine terminology.
Identification and solution for critical seaming problems.
Thread Recommendation
Thread advisory reports is the key feature of their value added services. After analyzing in their Research and Development laboratory they provide thread recommendation for any type of fabric.
Thread Consumption
Their team of experts studies the garment and can tell you the actual thread consumed per garment.
APPAREL:
KNITS
CORESPUN THREADS
DURO SOFT / D-CORE (A&E)
Duro Soft is a high quality extra long cotton staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The polyester core provides the strength while the softness of cotton cover provides very good sewing performance.
Applications
All Knit wear
SizesAvailable
Tex 18, 24, 40, 60, 80, 90, 105, 120, 150, 180, 220.
DURO POLY / PERMA CORE(A&E)
Duro Poly is a super high tenacity, minimal elongation polyester staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The Filament polyester core provides the strength while the spun polyester cover gives excellent sewability.
Applications
All Knit wear
Sizes Available
Tex 18, 21, 24, 30, 40, 60, 80, 90, 105, 120, 150, 180
SPUN THREADS
TORA - 3 + POLY / PERMA SPUN (A&E)
Made from 100 % spun polyester thread, manufactured from high tenacity Polyester fiber which has been lubricated to withstand high speed sewing operations.
Applications
All Knit Wear
Sizes Available
Tex 18, 21,24, 27, 30, 35, 40, 45, 50, 60, 70, 80, 90, 105,120, 180
COTTON THREADS
SUPERSEAM
Superseam is a 100 % extra long staple mercerized cotton thread. This product is gassed to provide a smooth surface and lubricated for better sewability where as mercerization process gives extra strength and lustre.
Application
Sewing of cotton garments.
Sizes Available
Tex 35
Sizes Available
Denier 150, 300
TEXTURISED THREAD
SOFF
Soff is a continuos filament Polyester Texturised thread. It provides with better stretch on the seams and gives a very soft feel. It can be used on Overlocking and Cover seaming machines as a looper thread.
Application
Lingerie, Swimwear, Knitwear, Babywear
Sizes Available
Denier 150, 300
SOFF NYLON
Soff Nylon is a Nylon Texturised thread meant to be used on Overlocking and Cover Seaming Machines as looper thread. It provides with more elasticity on the seams and gives a very soft feel when the seam comes in contact with the skin.
Applications
Lingerie,Swimwear,Knitwear,Babywear,Athletic wear
Sizes Available
Denier 150, 300
WOVEN
CORESPUN THREADS
Duro Soft is a high quality extra long cotton staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The polyester core provides the strength while the softness of cotton cover provides very good sewing performance.
Applications
All Woven garments
Sizes Available
Tex 18, 24, 40, 60, 80, 90, 105, 120, 150, 180, 220.
DUROPOLY/PERMA CORE(A&E)
Duro Poly is a super high tenacity, minimal elongation polyester staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The Filament polyester core provides the strength while the spun polyester cover gives excellent sewability.
Applications
All Woven garments
Sizes Available
Tex 18, 21, 24, 30, 40, 60, 80, 90, 105, 120, 150, 180
SPUN THREADS
TORA - 3 + POLY / PERMA SPUN (A&E)
Made from 100 % spun polyester thread, manufactured from high tenacity Polyester fiber which has been lubricated to withstand high speed sewing operations..
Applications
All Woven Garments
Sizes Available
Tex 18, 21,24, 27, 30, 35, 40, 45, 50, 60, 70, 80, 90, 105,120, 180
COTTON
THREADS
SUPERSEAM
Superseam is a 100 % extra long staple mercerized cotton thread. This product is gassed to provide a smooth surface and lubricated for better sewability where as mercerization process gives extra strength and lustre.
Application
Sewing of cotton garments.
Sizes Available
Tex 35
DENIM
Denim, denotes a rugged cotton twill textile, in which the weft passes under two or more warp fibers, producing the familiar diagonal ribbing identifiable on the reverse of the fabric, which distinguishes denim from cotton duck. Denim was traditionally colored blue with indigo dye to make blue "jeans," though "jean" denoted a different, lighter cotton textile.
CORESPUN
THREADS
DURO SOFT / D-CORE (A&E)
Duro Soft is a high quality extra long cotton staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The polyester core provides the strength while the softness of cotton cover provides very good sewing performance.
Applications
Denim Shirts, Pants, Dresses, Kidswear
Sizes Available
Tex 60, 80, 90, 105, 150, 120, 180, 220.
DURO POLY / PERMA CORE (A&E)
Duro Poly is a super high tenacity, minimal elongation polyester staple fiber wrapped core spun thread with a core of continuos filament polyester yarn. The Filament polyester core provides the strength while the spun polyester cover gives excellent sewability.
Applications
All Denim apparel
Sizes Available
Tex 60, 90, 80, 105, 120, 150 , 180
SPUN THREADS
TORA - 3 + POLY / PERMA SPUN (A&E)
Made from 100 % spun polyester thread, manufactured from high tenacity Polyester fiber which has been lubricated to withstand high speed sewing operations..
Applications
All denim wear
Sizes Available
Tex 50, 60, 70, 80, 90, 105,120, 180
OVERDYED
CHROMA
Chroma is a 100 % mercerized cotton thread meant for garments which are to be Overdyed. Chroma provides with better strength as compared to normal cotton threads and also gives better dye affinity.
Applications
RFD Garments
Sizes Available
Tex 27, 40, 60, 70, 105, 120
SPECIAL APPLICATION
THREADS
FUSER
Fuser is a Poly Poly Corespun thread with a Fusible coating. This product is meant for attachment of beads, sequins and buttons. When heat is applied the coating melts and fuses the knots thus securing the attachment.
Sizes Available
Tex 24 , 40
TAURUS
Taurus is a continous filament polyester thread. Dtex 120 & Dtex 80 can be used for fine Blind Hemming.
FOOTWEAR
LEATHER GARMENTS
LEATHER ACCESSORIES
AUTOMOTIVE SEATING AND UPHOLSTERY
LUGGAGE
MATTRESS AND QULITING
SADDLERY INDUSTRIAL
FILTER
COMPRESSOR
WINDING CURTAIN AND TENTS
BOOK BINDING
|
Application |
|||
|
Segment |
Category |
Suggested Brand/Ticket |
|
|
FOOTWEAR |
PREMIUM LEATHER |
MASTER
60,40,20 |
TEACHER
60,40,20 |
|
FOOTWEAR |
ECONOMY LEATHER |
RANGER
60,40,20 |
LINKER
60,40,20 |
|
FOOTWEAR |
TAURUS
60,40,20 |
|
|
|
FOOTWEAR |
SOLE STITCHING |
MASTER
8 ,7 |
RANGER
8 ,7 |
|
APARRELS |
LEATHER |
DUROGLACE
75,50,36 |
|
|
ACCESSORIES |
LEATHER |
DUROGLACE
75,50,36 |
RANGER
60,40 |
|
AUTOMOTIVE |
UPHOLSTERY |
MASTER
60,40,20 |
TEACHER
60,40,20 |
|
LUGGAGE |
SOFT |
LINKER
40,30,20 |
|
|
LUGGAGE |
HARD |
MASTER
40,30,20 |
RANGER
40,30,20 |
|
MATTRESS AND QUILTING |
|
TAURUS
60,40 |
LINKER
60,40 |
|
SADDLERY |
|
DUROGLACE
25,15 |
|
|
OUTDOOR APPLICATION |
|
LINKER
40,20,15 |
|
|
FILTER CLOTH |
|
TEACHER
40 |
LINKER
40 |
|
COMPRESSOR WINDING |
|
TAURUS
8 |
MOX
1.0MM |
|
CURTAIN AND TENTS |
|
LINKER
40 |
|
|
BOOK BINDING |
|
DUROGLACE
15 |
|
BONDED NYLON 6.6 THREADS
MASTER
MASTER is produced from high tenacity continuous filament Nylon 6.6 . The thread goes through specially formulated bonding process which ensures that the twisted plies stay together even during multidirectional sewing . Master Provides very high strength combined with exceptional abrasion resistance. It is completely rot proof , has a high resistance to alkalis and is stabilized for maximum sewing performance . Its excellent strength and recovery properties, together with its lustrous appearance, make it one of the most versatile threads available.
Thread
Construction : TWISTED MULTIFILAMENT
Substrate
: Nylon 6.6
Finish
: Bonded
Suggested
Key Uses
Premium leather footwear , Leather Goods , Shoe uppers , Auto motive Upholstery
, belts , Luggage , Hand Bags, Golf bags , Industrial Filters. Tickets
Available : 7 , 8 , 10, 13, 15, 20, 30, 40, 60, 80
LUBRICATED NYLON 6.6 THREADS
TEACHER
TEACHER is produced from high tenacity continuous filament Nylon 6.6 . After twisting and dyeing , a specially formulated lubricant is applied to the thread to give excellent sewing characteristics. TEACHER has a high tensile strength and is completely rot proof . It has high resistance to alkali and stabilized for maximum sewing performance.
Thread
Construction : TWISTED MULTIFILAMENT
Substrate
: Nylon 6.6
Finish
: Lubricated
Suggested
Key Uses
Premium leather footwear , Leather Goods , Shoe uppers , Auto motive Upholstery , belts , Luggage , Hand Bags, Golf bags , Industrial Filters. Tickets Available : 8 ,10 ,15 ,20 ,30 ,40 ,80 , 120
BONDED NYLON 6 THREADS
RANGER
RANGER is produced from high tenacity continuous filament Nylon 6.6 . The
thread goes through specially formulated bonding process which ensures that the
twisted plies stay together even during multidirectional sewing .It has a high
resistance to alkalis and is stabilized for maximum sewing performance .bonding
also gives good resistance to abrasion.
Thread
Construction : TWISTED MULTIFILAMENT
Substrate : Nylon 6
Finish : Bonded
Suggested
Key Uses
Economy leather shows , Protective footwear , Handbags , Automotive seats , Seat Belts , Collar linking (Hosiery) , Luggage , Leather goods ,upholstery , mattresses. Tickets Available : 7, 15, 20, 30, 40, 60
LUBRICATED NYLON 6 THREADS
LINKER
LINKER is produced from high tenacity continuous filament Nylon 6 . After
twisting and dyeing , a specially formulated lubricant is applied to the thread
to enable good loop formation and stitch locking operation. It has a high
resistance to alkalis and is pre - stabilized for better sewing performance.
Thread
Construction : TWISTED MULTIFILAMENT
Substrate : Nylon 6
Finish : Lubricated
Suggested Key Uses
Economy leather shows , Protective footwear , Handbags , Automotive seats , Seat Belts , Collar linking (Hosiery)
Luggage , Leather goods ,upholstery , mattresses.
Tickets Available :
10, 15, 20, 30, 40, 60
LUBRICATED POLYESTER THREADS
TAURUS
TAURUS is manufactured by twisting continuous filament polyester and its
controlled elongation gives excellent sewing properties , resistance to
abrasion and good UV resistance .After twisting and dyeing , a specially
formulated lubricant is applied to the thread to give excellent sewing
characteristics
Thread
Construction : TWISTED MULTIFILAMENT
Substrate
: Polyester
Finish
: Bonded / Lubricated
Suggested
Key Uses
Canvas Shoes , Soft luggage , Upholstery , Yacht Sails , Tents , Canopies , Leather goods ,mattresses , Zips .
Tickets
Available : 5 , 8 , 20 , 30,10 ,13 ,40 , 20, 60, 180
BRAIDS (POLYESTER)
MOX
MOX is manufactured by braiding continuous filament polyester , and is produced
in an extensive range of sizes . MOX construction is important in applications
where appearance matters . It is also used in high strength applications and
for decorative stitching . Mox threads , after braiding and dyeing , are either
lubricated for machine sewing applications or are evenly waxed for hand sewing.
Thread
Construction : BRAIDED FILAMENT
Substrate
: Polyester
Finish
: Lubricated / Waxed
Suggested
Key Uses
Decorative stitching , sole stitching , parachutes , stator binding , Venetian blinds , welt stitching .
Tickets
Available : 0.6mm , 0.8mm , 1.0mm , 1.2mm , 1.4mm
POLYESTER COTTON CORESPUN
DURO
DURO (Glaced) yarn is produced by spinning a sheath of cotton around a core of Continuous high quality polyester filament . Its stretch and recovery properties make it indispensable for stretch seams , Duro glace combats needle heat in sewing and is an excellent multipurpose thread. Special glace finish gives the thread the much desired lustre abd shine for leather garments.
Thread
Construction : CORE SPUN
Substrate
: Poly Cot
Finish
: Glaced (Polished)
Suggested
Key Uses
Leather garments , leather accessories , Gloves , Saddlery and Harness , Golf Bags and Hand bags .
Tickets
Available : 15 ,25 ,36 ,50 , 75 ,120
OTHER SPECIALITY THREADS
FIRE RETARDANT THREADS
ANTI - WICKING THREADS
ANTI - STATIC THREADS
MACHINERY EMBROIDERY:
Polymerised
Metallic
Specials
Cotton
POLYMERISED
PRIDE
Pride is a 100 % Trilobal polyester continous filament thread ideally suited for embroidery on high speed machines.It offers sparkling lustre and enhanced productivity due to low breakages. The dye fastness rating is also very good.
Application
Embroidery on logos, garments, Upholstery, Home Furnishing
Sizes
Available
Tex 27
METALLIC
EUREKA METALL
Eureka metall is a metallic embroidery thread with a nylon core and a metallised foil cover. A special lubrication ensures proper running of the thread on high speed machines. Available in 36 colours including Gold and Silver.
Application
All kinds of Embroidery with metallic look
Sizes
Available
Tex 27
SPECIALS
PUFF
Puff is a 100 % Acrylic thread, which is ideal for raised effect embroidery. It can be used on Multi head machines as well as manual machines
Application
Embroidery on all types of fabric for raised effect with Matt finish.
Sizes
Available
Tex 70
PUFF WOOL
Puff wool is composed of 50 % Wool and 50 % Acrylic. Embroidery done with Puff Wool gives a raised and wool effect.
Application
Embroidery on all types of fabric for raised effect.
Sizes
Available
Tex 60
MULTI COLOUR
Multi Colour or better known as space dyed is a combination of two or more colours in the same thread. PRIDE offers multi colour threads in a combination of two or four colours. It is available in Tex 27.
COTTON EMBROIDERY THREADS
SUPERSEAM
Superseam is a 100 % extra long staple mercerized cotton thread. Its available in Tex 35.
SCHIFFLI / LACE:
Embroidery, the art of forming attractive designs with hand or machine needlework, has been around virtually as long as clothing itself.
Schiffi embroidery is a single needle and single/multi head machine embroidery. Both mercerized cotton as well as staple polyester fibers is used to manufacture this thread. It gives excellent resistance to heat and organic solvent and good resistance to alkalis but sensitive to acdis.
Application:
All Kinds of Embroidery with Lock stitch.
Top Thread (Cotton)
Tex Sizes Available: 14, 18, 27, 35, 60, 80, 105, 120
Bobbin Thread (Polyester)
Tex Size Available: 16, 18
HAND EMBROIDERY
People have always found deep personal pleasure and sense of satisfaction in creating articles of daily use and artistic works from basic equipment and materials. One of the crafts practiced since times immemorial is needlecraft and embroidery - the urge to create with colourful threads. Embroidery was used in Ancient Egypt to decorate the hems of royal robes, in tapestries in the Middle Ages, and in ladies' samplers during the Colonial and Victorian eras. It continues as an art form today.
Hand embroidery is used to decorate wall hangings, pillowcases, quilts and table runners. Hand embroidery differs from counted cross stitch in that it uses many different types of stitches to achieve texture and interest, whereas counted cross stitch uses a single stitch and relies on color and shading for texture. Five stitches form the basis for hand embroidery. The stitches are outline, satin, lazy daisy, cross and French knot.
Hand embroidery is a beautiful art that almost anyone can learn. It is an art that should be preserved and well worth learning. The hand embroidery market in India is segmented into three segments.
Premium Embroidery Threads
Popular Embroidery Threads
Crochet Threads
USAGE OF HAND EMBROIDERY THREAD
Cross stitch
Counted thread work
Embroidery
Smocking
Tapestry
Applique work
Quilting
PRODUCTS
Magika, Premium Embroidery
Threads
To satisfy the creative urge to create exquisite designs with colourful threads, they created MAGIKA, Premium Embroidery Threads suitable for all kinds of embroidery.
MAGIKA (ART J777)
Magika is a brilliant six strand mercerized cotton thread
with separable strands, made from Egyptian cotton. It is 100% cotton;
double gassed mercerized threads for various embroidery applications.
KEY
FEATURES
Available in 8m skeins of approximately 2gm each
Ply : Count :: 12 : 30s
Egyptian cotton provides great lustre and softness
Maximum strength and lustre because of double gassed mercerization
Available in a range of 305 fast colours. Colour fastness as per ISO-4 standards
Excellent Wash and Light Fastness
Available in box of 25 skeins
Rangoli, Popular Embroidery
Threads
RANGOLI (ART J754)
Rangoli is a six strand mercerized cotton thread with separable strands. It is 100% cotton; gassed mercerized threads for various embroidery applications.
KEY FEATURES
Available in 7m skeins of approximately 1.2 gm each
Ply : Count : : 12 : 36
Gassed mercerized
Available in a range of 111 shades
Available in box of 25 skeins
Shade assortments of 50 and 100 skeins are also available
Crochet Threads
RANGOLI - Ball Items
A brand recognized for its value for money image. They have under this brand all kinds of ball articles to suit all kinds of hand embroidery applications.
RANGOLI E801 Tkt 20 & RANGOLI E802 Tkt 40
KEY FEATURES
Mercerized 6 cord cotton
Brilliant for fine crochet, tatting and lace making
Excellent quality
E801 and E802 are available in balls of 20gm and 100gm respectively
E801 is available in box of 10 balls and E802 in box of 4 balls
RANGOLI A805 Tkt 8 Pearl Cotton
KEY FEATURES
Mercerized, twisted, lustrous thread
In addition to crochet, can also be used for all types of embroidery and needle work.
A805 is available in balls of 10gm
A805 is available in box of 10 balls
TAILORING:
PREMIUM GENT'S TAILORING SEGMENT
TORA GOLD (B083) - 150 Mts.
KEY FEATURES
Premium tailoring thread used for stitching of gents trousers, shirts, suits and safaris
Made from imported fibre
Available in 150 metre tubes
Ply / Count - 3/56
Wide range of 255 shades
Packaging:
Available in a box of 15 tubes
Also available in an assortment of 18 shades, 5 tubes each (total 90 tubes)
READY MADE GARMENT SEGMENT
HAMMER POLY (A023) - 300 Mts.
KEY FEATURES
Used at local level for garmenting of gents, ladies and kids wear
Ply/Count - 2/49
Made from 100% polyester
Available in 300 Mts. tubes
Wide range of 449 shades
Packaging:
Available in a box of 25 tubes
Also available in an assortment of 20 shades, 5 tubes each (total 100 tubes)
LADIES TAILORING SEGMENT
HAMMER POLY (A037) - 180 Mts.
KEY FEATURES
Used at local level for garmenting of ladies wear
Made from 100% polyester
Available in 180 metre tubes
Ply/Count - 2/49
Wide range of 449 shades
Packaging:
Available in a box of 20 tubes
Also available in an assortment of 20 shades, 5 tubes each (total 100 tubes)
ECONOMY GENTS TAILORING SEGMENT
CHALLENGE (B021) - 130 Mts.
KEY FEATURES
Used for garmenting of gents trousers and shirts
Made from 100% polyester
Available in 130 metre tubes
Ply/Count - 3/55
Wide range of 449 shades
Packaging:
Available in a box of 20 tubes
Also available in an assortment of 20 shades, 5 tubes each (total 100 tubes)
HOUSEHOLD SEGMENT (WHITES)
HAMMER
2/350 & 2/800 Mts. - Cotton
HAMMER
2/400 & 2/800 Mts. - Polyester
These products are retailed out of Kiryana shops.
EYEBROW THREADING:
Vanity Eyebrow Threading Thread:
Vanity was launched in the year 2003 as a specialist eyebrow threading thread.
KEY FEATURES
India's only specialist eyebrow threading thread
Made of the finest quality cotton on state of the art machines
With anti-bacterial treatment which protects the skin from any kind of allergy or infection
Good elasticity to withstand stress during usage
Uniform structure of the thread makes it smooth over skin surface
Vanity is available in an attractive box pack of 10 spools. Each pink colored spool is also individually packed in a box.
HAND EMBROIDERY
People have always found deep personal pleasure and sense of satisfaction in creating articles of daily use and artistic works from basic equipment and materials. One of the crafts practiced since times immemorial is needlecraft and embroidery - the urge to create with colourful threads. Embroidery was used in Ancient Egypt to decorate the hems of royal robes, in tapestries in the Middle Ages, and in ladies' samplers during the Colonial and Victorian eras. It continues as an art form today.
Hand embroidery is used to decorate wall hangings, pillowcases, quilts and table runners. Hand embroidery differs from counted cross stitch in that it uses many different types of stitches to achieve texture and interest, whereas counted cross stitch uses a single stitch and relies on color and shading for texture. Five stitches form the basis for hand embroidery. The stitches are outline, satin, lazy daisy, cross and French knot.
Hand embroidery is a beautiful art that almost anyone can learn. It is an art that should be preserved and well worth learning. The hand embroidery market in India is segmented into three segments.
Premium Embroidery Threads
Popular Embroidery Threads
Crochet Threads
USAGE OF HAND EMBROIDERY THREAD
Cross stitch
Counted thread work
Embroidery
Smocking
Tapestry
Applique work
Quilting
PRODUCTS
Magika, Premium Embroidery Threads
To satisfy the creative urge to create exquisite designs with colourful threads, they created MAGIKA, Premium Embroidery Threads suitable for all kinds of embroidery.
MAGIKA (ART J777)
Magika is a brilliant six strand mercerized cotton thread
with separable strands, made from Egyptian cotton. It is 100% cotton;
double gassed mercerized threads for various embroidery applications.
KEY
FEATURES
Available in 8m skeins of approximately 2gm each
Ply : Count :: 12 : 30s
Egyptian cotton provides great lustre and softness
Maximum strength and lustre because of double gassed mercerization
Available in a range of 305 fast colours. Colour fastness as per ISO-4 standards
Excellent Wash and Light Fastness
Available in box of 25 skeins
Rangoli, Popular Embroidery Threads
RANGOLI (ART J754)
Rangoli is a six strand mercerized cotton thread with separable strands. It is 100% cotton; gassed mercerized threads for various embroidery applications.
KEY FEATURES
Available in 7m skeins of approximately 1.2 gm each
Ply : Count : : 12 : 36
Gassed mercerized
Available in a range of 111 shades
Available in box of 25 skeins
Shade assortments of 50 and 100 skeins are also available.
Crochet Threads
RANGOLI - Ball Items
A brand recognized for its value for money image. They have under this brand all kinds of ball articles to suit all kinds of hand embroidery applications.
RANGOLI E801 Tkt 20 & RANGOLI E802 Tkt 40
KEY FEATURES
Mercerized 6 cord cotton
Brilliant for fine crochet, tatting and lace making
Excellent quality
E801 and E802 are available in balls of 20gm and 100gm respectively
E801 is available in box of 10 balls and E802 in box of 4 balls
RANGOLI A805 Tkt 8 Pearl Cotton
KEY FEATURES
Mercerized, twisted, lustrous thread
In addition to crochet, can also be used for all types of embroidery and needle work.
A805 is available in balls of 10gm
A805 is available in box of 10 balls
KITE FLYING:
Vardhman Threads is one of the leading thread manufacturers in India. They produce a wide range of high quality Kite Flying threads. These products are available in Premium and Popular segments.
The flagship brand in premium segment is Panda, which is available in 6, 9 & 12 ply & tickets 2, 5, 7 & 8. These threads are available in different lengths that can also be tailor made.
|
Ply |
Ticket |
Strength |
|
6ply |
8 |
2950g |
|
9ply |
2 |
3175g |
|
9ply |
5 |
3100g |
|
9ply |
7 |
3100g |
|
9ply |
8 |
3650g |
|
12ply |
8 |
3650g |
In popular segments there are many products that are available in 2, 3, 4, 6, 9 & 12 ply and tickets 8 & 12 which are custom made products.
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 :
The 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.
The 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. 42.92 |
|
UK Pound |
1 |
Rs. 84.48 |
|
Euro |
1 |
Rs. 66.66 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
76 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|