MIRA
INFORM REPORT
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Report Date : |
07.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
HABEEB HIDES |
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Registered Office : |
No. 3/2, Jamali Nagar, Perambur High Road, Chennai –
600012, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEH03427E |
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PAN No.: [Permanent
Account No.] |
AADFH1036Q |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufactures, Exporter and Importer of Finished Leathers, Leathers Shoe Uppers and Leather Full Shoes. |
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 400000 |
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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 concern having satisfactory track. Partners are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sayyed |
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Designation : |
Accountant |
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Date : |
07.03.2008 |
LOCATIONS
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Registered Office : |
No. 3/2, Jamali Nagar, Perambur High Road, Chennai – 600012, Tamilnadu |
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Tel. No.: |
91-44-26620087/26625933 |
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Fax No.: |
91-44-26625045 |
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E-Mail : |
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Website : |
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Factory 1 : |
Tannery
Division Ammanan Kuppam Village, Railway Station Road, Gudiyattam – 635803 Managing Partners: Mr. A A Teequrrahman Mr. A Salman Ahmed |
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Tel. No.: |
91-4171-220528 |
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Fax No.: |
91-4171-222428 |
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E-Mail : |
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Factory 2 : |
Shoe
Upper Division S. Beedi Complex, Sedukkarai Village, Railway Station Road, Gudiyattam – 632602 Managing Partners : Mr. A Wasifur Rahman |
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Tel. No.: |
91-4171-221028 |
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Fax No.: |
91-4171-221528 |
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E-Mail : |
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Factory 3 : |
Ammanan Kuppam Village, Railway Station Road, Gudiyattam – 635602 Managing Partners.: Mr. A Tanveer Ahmed |
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Tel. No.: |
91-4171-227728 |
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Fax No.: |
91-4171-227828 |
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E-Mail : |
PARTNERS
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Name : |
Mr. A M Ameen |
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Designation : |
Partner |
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Name : |
Mr. A M Ashraf |
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Designation : |
Partner |
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Tel .No.: |
91-44-26620087 |
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Name : |
Mr. A M Siddque |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufactures, Exporter and Importer of Finished Leathers, Leathers Shoe Uppers and Leather Full Shoes. |
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Products : |
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Exports : |
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Countries : |
Italy, Germany, France, Others Parts of Europe and Far
East |
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Imports : |
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Countries : |
Europe |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
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Finished Leathers |
5,00,000 sq. ft. per month |
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Leather Full Shoes |
1000 pairs a month |
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Leathers Shoe Uppers |
1000 pairs a month |
GENERAL
INFORMATION
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Customers : |
Local |
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No. of Employees : |
Around 7 |
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Bankers : |
Indian Bank, Parktown |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 100.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 100.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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130.000 |
100.000 |
Expected Sales (2007-08) : Rs.150.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
NOTE
Parent company of the subject is Habeeb Tanning, established in
1980.
PROFILE
This is a sister concern of the Habeeb Tanning Company. They are also engaged on the same activates as Habeeb Tanning Company and operate under the name of Habeeb Hides for Corporate reasons.
Habeeb Tanning Company (HTC) was established in 1980 to manufacture good quality leather, catering to the needs and changing trends of the global leather industry. Their strong commitment to deliver high quality finished leather has helped them establish a firm presence in international markets. Renowned for high quality and top finish, finished leather from HTC is most sought after in Europe and the Far East.
After two decades of continuous efforts, commitment and consistency, they have now ventured into manufacturing of Shoe Uppers and fashion shoes for men, ladies and children. These products are being exported to countries like Italy, Germany and France.
HTC is a fully family owned concern, established by Mr. A. M. AMEEN, Mr. A.M. ASHRAF and Mr. A.M. SIDDIQUE. The morals and ethics of the founders of HTC are reflected in the operations of HTC, which is committed to high business ethics, quality, and consistent deliveries, thus making them a highly trustworthy and reputed organization in the industry.
HTC enjoys membership status in organizations like Council for Leather Exports,
FIEO, AISHTMA and ITPO and is also a recognized Export House for three
consecutive periods since 1995.
INFRASTRUCTURE
Habeeb Tanning Company (HTC) was established in 1980 to
manufacture good quality leather, catering to the needs and changing trends of
the global leather industry. Their strong commitment to deliver high quality
finished leather has helped them establish a firm presence in international
markets. Renowned for high quality and top finish, finished leather from HTC is
most sought after in Europe and the Far East.
TANNERY
Their tannery is situated in Gudiyatham, 170 kms away from
Chennai, which has easy access by road and rail. HTC specializes in the process
of finished leathers from Cow hides. Tanning of Buff hides and goatskins is
also undertaken. The tannery is equipped with high precision imported machinery
to process finished leather.
Workforce : 100 skilled personnel
Production capacity: 3 million sq. ft a year
SHOE UPPER DIVISION
HTC’s shoe upper division is located in close proximity to
the tannery. All types of fashion uppers and casual uppers are produced to meet
the requirements of different seasons.
Work force: 400 skilled personnel.
Production capacity: 750,000 pairs a year
SHOE DIVISION
HTC’s modern shoe division is also located very close to the
tannery. The shoe unit is equipped with high precision imported machinery,
which is truly state-of-the-art.
Workforce: 200 skilled personnel
Production capacity: 250,000 pairs a year
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.29 |
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UK Pound |
1 |
Rs.79.97 |
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Euro |
1 |
Rs.61.23 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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