MIRA
INFORM REPORT
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Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
COTTON NATURALS INDIA PRIVATE LIMITED |
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Registered Office : |
E-28, Connaught Place, New Delhi-110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.09.1997 |
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Com. Reg. No.: |
55-89938 |
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CIN No.: [Company
Identification No.] |
U18101DL1997PTC089938 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC04552C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Readymade Garments |
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 1050000 |
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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 company and faring well. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Payments are reported as correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions |
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INFORMATION PARTED
BY
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Name : |
Ms. Mamta |
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Designation : |
Import-Export Executive |
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Date : |
23.06.2008 |
LOCATIONS
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Registered Office / Head Office : |
E-28, Connaught Place, New Delhi-110001, India |
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Tel. No.: |
91-11-23326011/23350026 / 23416011 |
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Fax No.: |
91-11-23325720/2568314 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
C-100, Sector 2, Noida – 201 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2530172/2553794 / 23326011 / 4316904 / 05 |
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Fax No.: |
91-120-2555180 / 23325720 |
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Factory 1 : |
A-28, A-31, Sector 59, Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-11-914553794 / 914530172 |
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Fax No.: |
91-11-91455180 |
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Area : |
Rented -- 5,000 sq. fts. |
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Location : |
Commercial |
DIRECTORS
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Name : |
Mr. Varun Sharma |
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Designation : |
Director |
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Address : |
A-39, Vasant
Marg, Vasant Vihar, New Delhi 110057, India |
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Tel No. : |
91-11-26568314 |
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Date of Birth/Age : |
17.08.1960 |
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Date of Appointment : |
13.09.1997 |
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Name : |
Mr. Tokie Sharma |
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Designation : |
Director |
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Address : |
A-39, Vasant
Marg, Vasant Vihar, New Delhi 110057 |
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Tel No. : |
91-11-26568314 |
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Date of Birth/Age : |
03.02.1969 |
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Date of Appointment : |
13.09.1997 |
KEY EXECUTIVES
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Name : |
K. B. Sharma and Company |
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Designation : |
Company Secretary |
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Address : |
Shopping centre No. 1, Block-F, Stall No. 17 and 18, 2nd Floor, Manasarover Garden, New Delhi-110015 |
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Tel No. : |
91-11-31182329 |
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Name : |
Sudha Gupta and Associates |
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Designation : |
Company Secretary |
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Address: |
C-103, SPS II, Radhey Shyam Park, Sahibabad 201010, Uttar Pradesh, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
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Names of Shareholders |
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No. of Shares |
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Mr. Varun Sharma |
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995000 |
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Mr. Tokie Sharma |
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995000 |
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Total |
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1990000 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage
of Holding |
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Directors or relatives of the
Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Readymade Garments |
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Products : |
Breeches, Shirts And Waist Coats |
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Exports : |
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Countries : |
USA, UK and other European countries |
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Imports : |
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Products : |
Machinery and Yarn |
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Countries : |
Korea |
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Terms : |
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Selling : |
L/C, Cash and Credit [60 days] |
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Purchasing : |
L/C, Cash and Credit [60 days] |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
2000 [In Office 200 + In Factory 1800] |
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Bankers : |
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Banking Relations
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Satisfactory |
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Auditors : |
Dharam Raj & Company Chartered Accountants |
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Address: |
R-24/10, 1st Floor, Rita Block, Vikas Marg, Shakarpur, Delhi – 110 092 |
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Tel. No.: |
91-11-22469410 /55374331 / 22014726 |
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Mobile No.: |
91-9811327272 |
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Fax No.: |
91-11-22525118 / 22014728 |
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E-Mail : |
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Group Company : |
v Jaipur Polo Company E-28, Connaught Place, New Delhi - 110 001, India Tel. 91-11-2332 6011 Fax. 91-11-2332 5720 E Mail : sales@jpc-india.com Website : http://www.jpc-india.com - Engaged in manufacturing of riding breeches, polo shirts, trousers and other v JPC Equipment Inc |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1990000 |
Equity Shares |
Rs. 10/-
each |
Rs. 19.900
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 |
19.900 |
19.900 |
19.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
190.415 |
165.077 |
130.255 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
210.315 |
184.977 |
150.155 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
89.398 |
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2] Unsecured Loans |
88.198 |
87.198 |
2.136 |
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TOTAL BORROWING |
88.198 |
87.198 |
91.534 |
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DEFERRED TAX LIABILITIES |
0.000 |
1.638 |
0.000 |
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TOTAL |
298.513 |
273.813 |
241.689 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
108.302 |
110.511 |
113.692 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
14.875 |
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DEFERREX TAX ASSETS |
28.375 |
28.375 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
20.128
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16.737 |
11.133 |
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Sundry Debtors |
35.776
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46.311 |
48.224 |
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Cash & Bank Balances |
15.824
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11.548 |
7.067 |
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Other Current Assets |
55.115
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20.482 |
4.413 |
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Loans & Advances |
55.801
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55.120 |
58.816 |
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Total
Current Assets |
182.644
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150.198 |
129.653 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.431
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15.274 |
16.536 |
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Provisions |
1.377
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0.000 |
0.000 |
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Total
Current Liabilities |
20.808
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15.274 |
16.536 |
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Net Current Assets |
161.836
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134.924 |
113.117 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.005 |
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TOTAL |
298.513 |
273.813 |
241.689 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
Sales Turnover [including other
income]
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138.658 |
155.487 |
148.953 |
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Profit/(Loss) Before Tax
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25.838 |
35.160 |
57.777 |
Provision for Taxation
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0.627 |
0.598 |
0.888 |
Profit/(Loss) After Tax
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25.211 |
34.562 |
56.889 |
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Export Value |
133.702 |
150.738 |
144.402 |
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Import Value |
9.877 |
9.743 |
14.259 |
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Total Expenditure
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112.820 |
120.327 |
91.177 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
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(%)
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18.63 |
22.22
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38.19 |
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Net Profit Margin
(PBT/Sales) |
(%) |
18.18 |
22.61
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38.78 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
8.88 |
13.50
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23.74 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.12 |
0.19
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0.38 |
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Debt Equity Ratio
(Total
Liability/Networth) |
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0.52
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0.55 |
0.70 |
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Current Ratio
(Current
Asset/Current Liability) |
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8.77
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9.83 |
7.84 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Cavalier
Equestrias, Canada
- Akkia, France
- Dethalon,
France
Fixed
Assets
v Land
v Transit House / Corporate Office
v Plant and Machinery
v Vehicles
v Computer
v Office Equipments
v Factory Building
v Furniture and Fixture
v Fan and Collar
v Fire Extinguishers
v Electrical Fitting
Subject imports yarn, zips, button, fabric, leather, thread and needles.
It exports its’ products to more than 75 countries
Its’ products range includes :-
· Breeches and Jodhpurs
· Shirts and Show Shirts
· Outerwear
· Show Coats
· Polo Jeans
· Socks
· Innerwear
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. 42.97 |
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UK Pound |
1 |
Rs. 84.72 |
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Euro |
1 |
Rs. 66.99 |
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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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