MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
DEBSONS DIVERSIFIED PRODUCTS |
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Registered Office : |
157, N S Road, 1st Floor, Room No. 109, Kolkata, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1838 |
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PAN No.: [Permanent
Account No.] |
AJXPK670B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Jute, Synthetic and Natural Fibres. |
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 100000 |
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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 century old concern. Trade relations are fair. Payments
are made regularly. The concern can be considered good for business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. R. N. Kar |
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Designation : |
CEO |
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Date : |
22.05.2008 |
LOCATIONS
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Registered Office : |
157, N S Road, 1st Floor, Room No. 109, Kolkata, West
Bengal, India |
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Tel. No.: |
91-33-22708771 |
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Mobile No.: |
91-9433090832 |
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Fax No.: |
91-33-25338871 |
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E-Mail : |
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Website : |
www.jutexchem.org |
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Area : |
500 sq ft |
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Location : |
Owned |
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Branch Office : |
Rajuri Gardens, Opposite bata Shoes, New Delhi (Also have a R and D
centre in Kolkata) |
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Area : |
2000 sq fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Lintar Kar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
20 years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. R. N. Kar |
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Designation : |
CEO |
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Date of Birth/Age : |
50 years |
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Qualification : |
Technical Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Jute, Synthetic and Natural Fibres. |
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Exports : |
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Countries : |
USA, Turkey, Jordan and Cairo. |
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Terms : |
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Selling : |
L/C Cash |
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Purchasing : |
L/C Cash and Advance |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Others Manufacturers |
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No. of Employees : |
10000 |
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Bankers : |
v HSBC, Kolkata v State Bank of
India, Kolkata |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N. C. Raichaudhri and Company (Chartered Accountants) |
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Address : |
Kolkata |
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Associates/Subsidiaries : |
v Nuddia Jute
mills Limited Mehaipi, 24 Paraganlers,
West Bengal v Polani Spinning
Mills Limited Polani Industrial
Estate, West Bengal v Annapurna Pope Dyeing House
Industries Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 25.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 25.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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340.000 |
140.000 |
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Group Turnover |
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3000.000 |
Not Applicable |
Expected Sales (2009) : Rs. 340.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AJXPK670B |
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Central Tax Registration |
98200185239 |
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State Sales Tax Registration |
19200185045 |
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Tin Registration |
19200185045 |
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Excise Registration |
AABCT166INXM006 (exempted Dated 09.07.2004) |
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Import Export Code |
0204007356 |
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Name of Bank |
HSBC and State Bank of India |
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Current Account Number |
031641939001 and |
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Account Since |
Since 20 years in both banks. |
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Emp PF Registration Number |
Yes |
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Company ESI Registration Number |
Yes |
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Credibility Factors |
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Indiamart Client Since |
Since last 6 years |
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Year of Establishment |
1838 |
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Trade Affliations |
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SSI Registration |
Yes |
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Export Promotion Council |
Yes |
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Chambers of Commerce Membership |
Yes |
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Government Recognised Export House Status |
Yes |
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Standards and Certifications |
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Quality Management Systems |
ISO 9001 : 2000 |
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Environment Management Systems |
Not needed |
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Product Certificates |
ISI Mark |
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Other Certificates |
Not needed |
Trade References:-
v ONGC
v NHBC (National Hydro- Electricity Board Corporation)
v Reliance
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.66.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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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 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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52 |
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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