MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
G K B TEXTILES |
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Registered Office : |
72, Pudhuvalsu Main Road, Lakkapuram, Erode – 638 002, Tamilnadu. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
21.01.2005 |
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IEC No.: |
3204002896 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Cotton Fabric such as Curtains, Bed Spread, Shirts,
Trousers etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 32500 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. Scale of operations
is limited. Its payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. G. Balakrishnan |
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Designation : |
Proprietor |
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Contact No.: |
91-9443340467 |
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Date : |
05.11.2008 |
LOCATIONS
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Registered Office/Factory: |
72, Pudhuvalsu Main Road, Lakkapuram, Erode – 638 002, Tamilnadu,
India. |
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Tel. No.: |
91-424-2402622 |
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Mobile No.: |
91-9443340467 (Mr. Balakrishnan) |
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E-Mail : |
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Area : |
2600 sq.ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. G. Balakrishnan |
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Designation : |
Proprietor |
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Address : |
Kokkiri Kattu Pudur, Vllakethy (po), Sivagiri (VIA), Erode – 638109,
Tamilnadu, India. |
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Date of Birth/Age : |
32 years |
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Qualification : |
BE (Mech) |
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Experience : |
7 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cotton Fabric such as Curtains, Bed Spread, Shirts,
Trousers etc. |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
16 ( in office 1 + in factory 15) |
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Bankers : |
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Facilities : |
The Concern enjoy cash credit and overdraft facility from its banker.
(Lakshmi Vilas Bank Limited) |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mr. Saminathan Chartered Accountant |
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Address : |
Chandran Studio Appartment, Erode, Tamilnadu, India. |
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Mobile No.: |
91-9842727344 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
Rs.1.500 Millions |
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Total : |
Rs.6.500 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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3.600 |
Expected Sales (2008-09) : Rs. 4.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
v
Indocem Overseas Private Limited , Karur
v
A.D. Textile, Karur
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33902903146 |
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IEC Code : 3204002896 |
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PAN / TAN : AHYPB5965C |
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Bank Name : Lakshmi
Vilas Bank Limited ,
Axis Bank |
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Bank Address :
Erode |
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Bank A/c. No.: 0407351000000312 (Lakshmi Vilas Bank Limited ) 1180102000284995 ( Axis Bank) |
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Account Since : 4
years (Lakshmi Vilas Bank Limited ) 1
years ( Axis Bank) |
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CST No.: 779284
Note: Subject have no ISO Certificate
AS PER WEB SITE DETAILS
CONCERN PROFILE
Founded in the year of 2002 by Mr. G.BALAKRISHNAN, Subject is a manufacture and export company offering a humungous range of fabrics. The range finds usage in the storing and packing of various items including Seer Sucker Fabric, Double Cloth Fabric, Dobby Fabric, Fancy Weaving Fabric, Check Fabric, Plain Fabric, Stripped fabric etc. as per international standards. They annual turnover of us $ 40000.00.Owing to his vast industry experience and in-depth product knowledge, he has proved to be a source of immense inspiration and a guiding force. He has regularly guided their personnel to work efficiently and acquire company’s goal of utmost customer satisfaction
The quality is implemented by their their dexterous team of quality superintendents. They also possess a capacious warehouse and outsourced transportation facility. They received positive responses from
Their clients that have given us the motivation to expand their activities to other major territories of the globe. They aspire to become a name to reckon with among the top most exporters in the Home Textiles and Furnishings industry across the globe and to offer world-class products to their valuable clients.
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.47.32 |
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UK Pound |
1 |
Rs.74.20 |
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Euro |
1 |
Rs.60.73 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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26 |
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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