MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
PEREL RITZ |
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Registered Office : |
56 Rayapuram Extension, First Street, Tirupur – 641 601, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2005 |
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IEC No.: |
3205022840 / 10.01.2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporter of knitted wear for both men and women. |
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 40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dinesh Chakravarthy |
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Designation : |
Proprietor |
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Contact No.: |
91-9894045958 |
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Date : |
02.05.2008 |
LOCATIONS
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Registered Office : |
56 Rayapuram Extension, First Street, Tirupur – 641 601, Tamil Nadu ,
India |
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Tel. No.: |
91-421-4317575 to 4317599 (25) / 4317500 |
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Mobile No.: |
91-9894045958 |
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Fax No.: |
91-421-4317555 |
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E-Mail : |
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Website : |
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Factory : |
No. 9 Vinayagapuram Fourth Street, Royapuram Extension, Tirupur – 641
601, Tamil Nadu, India |
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Tel. No.: |
91-421-4317575 to 4317599 (25) |
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Fax No.: |
91-421-4317555 |
SOLE PROPRIETOR
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Name : |
Mr. Dinesh Chakravarthy |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of knitted wear for both men and women. |
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Products : |
· Men’s Half Sleeves T Shirts · Men’s Full Sleeve T Shirt · Men’s Hooded T Shirt · Men’s Long Striped T Shirts · Men’s Line Striped T Shirts · Men’s Round Neck Printed T Shirts · Men’s Printed T Shirt’s · Men’s Striped Hooded T Shirts · Ladies Full Sleeve Striped T Shirts · Ladies Half Sleeve T Shirts · Ladies Full Sleeve T Shirts · Ladies Dresses · Ladies Hooded T Shirts · Ladies Tunic Dresses · Ladies Striped Cardigans · Ladies Striped Tops · Ladies Kurtas |
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Imports : |
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Products : |
Accessories and Fabrics |
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Countries : |
Hong Kong, China, Austria, Italy |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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180000 pcs moth |
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180000 |
Full Capacity
Installed |
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60000 Polo Next T Shirts |
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--- |
--- |
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60000 Crew Neck T Shirt |
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60000 Undergarments |
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GENERAL
INFORMATION
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No. of Employees : |
210 (30 In Office and 180 In Factory) |
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Bankers : |
· State Bank of India , Overseas Branch, Tirupur · ABN Amro Bank, Tirupur |
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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. 10.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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40.000 per annum |
LOCAL AGENCY
FURTHER INFORMATION
OTHER
INFORMATION:-
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PARAMETER |
DETAIL |
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Existence
Verification |
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Name |
Perelritz |
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Address |
56, Royapuram Extension First Street, Tirupur – 641 601. This Address is
for correspondence and communication. |
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2nd Address |
9 Vinayagapuram Fourth Street, Royapuram Extension, Tirupur – 641 601
(Factory / Works) |
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Phone / Mobile Numbers |
91-421-4317575 to 4317599 (25 lines ) |
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Fax numbers |
91-421-4317555 |
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Statutory
Approval |
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Legal Status of firm |
Proprietorship |
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Central Sales Tax Registration |
CST 850869 |
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State Sales Tax Registration |
TNGST – Area Code 128 -2464207 dated 28.10.2005 |
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VAT / TIN Registration |
VAT 33222464207 |
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Import Export Code |
3205022840 / 10.01.2006 |
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Name of Bank |
SBI Overseas Branch, Tirupur |
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Credibility
Factors |
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India Mart Client Since |
Three years – established in 2005 |
Other Details:
· Men’s Half Sleeves T Shirts
· Men’s Full Sleeve T Shirt
· Men’s Hooded T Shirt
· Men’s Long Striped T Shirts
· Men’s Line Striped T Shirts
· Men’s Round Neck Printed T Shirts
· Men’s Printed T Shirt’s
· Men’s Striped Hooded T Shirts
· Ladies Full Sleeve Striped T Shirts
· Ladies Half Sleeve T Shirts
· Ladies Full Sleeve T Shirts
· Ladies Dresses
· Ladies Hooded T Shirts
· Ladies Tunic Dresses
· Ladies Striped Cardigans
· Ladies Striped Tops
· Ladies Kurtas
Features:
Available in various sizes and pattern, ensure color fastness and tear strength, shrinkage free, ensures comfort to the wearer, various color combinations and attractive designs, perfect fit, made up of finest quality fabrics, finely stitched, easy to was , cost effective.
WEBSITES DETAILS:
They are an ISO 9001:2000 certified manufacturers, suppliers, and
exporters of exclusive collection of fashionable knitted wear for both men and
women.
The concern was
established in the year 2005, under guidance and support of their mentor Mr.
Dinesh Chakaravarthy, has a huge
clientle base in India, Europe and other Countries.
They have been able
to carve a niche for their selves in the market. Their industry knowledge and
commitment allow them to completely understand the requirements as well as
demands of their esteemed customers. Today, they have a have grossed an annual
turnover of Rs. 30.000 millions.
They have experienced designers, tailors and craftsman who specialize in
creating innovative patterns that compliment fashion and vogue. Furthermore,
they are fully equipped with efficient resources to meet bulk orders of their
clients, with precision and fast deliveries.
Products
Their concern has
acquired core competence in the development and designing of stylish and trendy
knitted wear for both men and women. Their elegant and fashionable product
range includes an assortment of various men’s knitted wear, girls knitted wear,
boys knitted wear, ladies knitted wear and many more. The raw materials being
used by them involve knitted as well as woven fabrics that we get directly from
mills and dealers.
There are various highlighting features of their broad range of garments which
are as follows:
· Elegant designs and patterns
· Color fastness
· Skin friendly
· Soft and comfortable
Quality
Their concern makes sure
that all their readymade garments are durable, well stitched, properly finished
and conform to international quality standard. They have a team of quality
analysts that performs extensive quality checks at different stages of
production process; starting from selection of raw materials to the
finalization of products. Their concern procures superior quality fabrics from
the most reliable vendors of India. Various parameters on which they check
quality of their variety of readymade garments are as follows:
· Fabric strength
· Color fastness
· Texture
· Yarn
· Shrinkage
· Stitching
· Finishing
The quality level of
their impressive range of readymade garments is evident by the tremendous
appreciation that they receive from their vast clientele.
Client Satisfaction
They boast of their
wide spread, strong base of clients that is a result of their approach of
maximum customer satisfaction and high quality of their product range. Since
inception, their concern has been working adeptly in order to fulfill ever
changing demands of their esteemed customers. They manufacture their elegant
collection of garments by using a unique combination of fashionable as well as
traditional designs, spectrum of colors and latest style. They have nurtured
strong relations with the clients by offering them best quality garments.
Assuring durability as well as high strength, they export fashionable readymade
garments to all European countries. Owing to their premium services, they have
garnered the trust and goodwill of their admired clients.
Team of Experts
Their concern is
backed by dedicated as well as talented team of textile engineers, creative
designers, technicians, Rand D, weavers, spinners and tailors to add value to
their variety of readymade garments. Their team members are highly experienced
and hard working who strive to meet clients’ requirements as well as
specifications. They have a devoted management and different departments who
work in close coordination to provide total customer satisfaction. They have
quality inspectors who strive to bring outstanding garments to their vast
clientele across the globe. Furthermore, they have R and D professionals who
observe the market trends closely and design their products accordingly. Their
skilled assistants, accountants, warehouse managers and others also assist them
in order to maintain daily activities.
Why Them?
Their concern
endeavors to meet expectations of their valuable customers with high quality
apparels. They try to maintain long lasting relations with their vast clientele
and addressing their needs in an innovative way. Various factors that have set
them apart from their competitors are as follows:
· Superior quality
· Highly experienced professionals
· Sound Infrastructure
· Timely delivery
· Easy mode of payment
· Competitive pricing
Infrastructure
At the concern, they
have a well equipped infrastructure spread over an area of 8000sq feet. Their
manufacturing unit is well equipped with latest machinery installed on
sophisticated technology, which can efficiently 50,000 pieces of t-shirts per
month.
A variety of
machines that they use for the manufacturing of their array of readymade
garments is as follows:
· Sewing machines
· Cutting machines
· Finishing machines
· Knitting machines
· Ironing machines
· Flat locking machines
· Interlocking machines
Their infrastructure
also includes CAD/CAM facilities that are managed by an experienced team of
professionals who carefully note down their clients’ as well as markets’
requirements and design products accordingly. Furthermore, they have own a
spacious warehouse which has all the requisites that a top class warehouse must
have. They are committed to offer qualitative, fashionable and durable apparels
to their vast clientele as per their requirements and as well as specifications.
Hi Fashioned
Apparels
They manufacture a
wide range of readymade garments that are known for their perfect finish,
multitude patterns and designs complementing latest fashion for their esteemed
customers. Their concern assures top-notch quality by employing stringent
quality measures to achieve complete customer satisfaction. They endeavor to
meet ever changing demands of their valued clients across the globe. Their
latest collection of garments is designed with innovative designs and can be
availed as per requirements and specifications of their clients.
Their concern offers
an exclusive range of knitted wear for men that are of superior quality as well
as comfortable. These men knitted wear are made up of fine fabric and ensures
colorfastness. Their variety of knitted wear is available in various colors as
well as sizes depending upon clients’ requirements as well as specifications.
Designed to
perfection, their girls knitted wear complement the grace of woman and also
match up the style quotient of latest fashion. Their concern manufactures a
wide range of knitted wear for girls that are well known among their vast
clientele. Their elegant collection of knitted wear for girls is designed
keeping in to mind various demands of their esteemed customers.
They have created a
niche in the fashion industry with their wide range of high quality knitted
wear for boys. These garments are known for their unmatched quality, high fabric
strength, perfect fit and long lasting. Their boys’ knitted wear are available
in different sizes, designs and colors to fulfill the varied demands of their
esteemed clients.
They offer an
exclusive collection of ladies knitted wear that are of top-notch quality.
Their wide range of apparels is subjected to strict quality measures to ensure
maximum customer satisfaction. These knitted wear are unique combo of modern style
and comfort that have enabled them to gain reputation for their selves across
the globe
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 concern 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 concern’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.40.46 |
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UK Pound |
1 |
Rs.79.50 |
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Euro |
1 |
Rs.63.09 |
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 |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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