MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
A K DYEING |
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Registered Office : |
Tajpur Road, Opp. Central Jail, Near Shri Balaji Chowk, Ludhiana – 141
001, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1999 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Polar Fleece Fabric |
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 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are 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. Anant Goel |
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Designation : |
Proprietor |
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Date : |
04.10.2008 |
LOCATIONS
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Registered Office/Factory : |
Tajpur Road, Opp. Central Jail, Near Shri Balaji Chowk, Ludhiana – 141
001, Punjab, India |
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Tel. No.: |
91-161-3223666 |
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Mobile No.: |
91-9316930888 |
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Fax No.: |
91-11-66173666 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Anant Goel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
29 Years |
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Qualification : |
MBA |
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Experience : |
5 Years |
KEY EXECUTIVES
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Name : |
Mr. Anant Goel |
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Designation : |
Chief Executive Officer |
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E-Mail : |
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Name : |
Mr. Lalit Single |
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Designation : |
General Manager |
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E-Mail : |
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Name : |
Mr. Sahil Asdhir |
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Designation : |
Manager – Garment Division |
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E-Mail : |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Polar Fleece Fabric |
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Products : |
·
Plain Polar Fleece Fabric ·
Micro Polar Fleece Fabric ·
Drop Needle Polar Fleece Fabric ·
Anti-Pill Polar Fleece Fabric ·
Printed Polar Fleece Fabric ·
Cationic Polar Fleece Fabric ·
Melange Polar Fleece ·
Anti Pilling Polar Fleece Fabric ·
Suede Fabric ·
Terry Fabric ·
French Terry ·
Stripe Polar Fleece Fabric |
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Exports : |
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Products : |
·
Plain Polar Fleece Fabric ·
Micro Polar Fleece Fabric ·
Drop Needle Polar Fleece Fabric ·
Anti-Pill Polar Fleece Fabric ·
Printed Polar Fleece Fabric ·
Cationic Polar Fleece Fabric ·
Melange Polar Fleece ·
Anti Pilling Polar Fleece Fabric ·
Suede Fabric ·
Terry Fabric ·
French Terry ·
Stripe Polar Fleece Fabric |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to increase production by : |
50% |
GENERAL
INFORMATION
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Suppliers : |
·
Own Set up ·
Manufacturer |
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Customers : |
Garment Exporters |
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No. of Employees : |
50 |
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Bankers : |
ICICI Bank Limited Ludhiana – 141 001, Punjab, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.6.000 millions |
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Borrowed : |
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Total : |
Rs.6.000 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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100.000 |
80.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2008-09) : Rs.125.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Web Details
Established
in the year 1999, Concern has
become one of the reliable and trusted companies primarily engaged in manufacturing of Polar Fleece fabric
for domestic and international market. The company has its manufacturing setup
in Ludhiana which is the major manufacturing hub for textiles in India. They
are professional managed company formed by young, dynamic and ambitious
technocrats having an excellent synergistic blend of experience and expertise.
Over
the period they have gained expertise in manufacturing of wide range of Polar
Fleece and Terry Fabrics for different industrial sectors. The fabrics are made
from the finest yarn, processed on
imported machinery and are specialized finished as per the end use
requirements.
They
have strong manufacturing facility having a in-house composite unit right from knitting to garmenting thus
giving them a competitive edge over the competitors in terms of consistently
providing quality products at the right price, keeping up with our delivery
commitments and adhering to the international standard work practices right
through the manufacturing process.
Since
the inception, they have progressed tremendously over the years by
understanding the ever changing market trends and emerging requirements and
thus adapting themselves to them. In the endeavor to provide value added
product to our customer’s the directors extensively takes part in seminars and
workshops on textiles held around the country focusing on key areas and developments
in technical textiles.
They
have successfully established the customer base all over India and have the
privilege of business association with various leading brands and export
houses.
Manufacturing
Strengths
They have a strong
integrated manufacturing facility backed by team of skilled work force and
technocrats.
The Knitting Section comprises of
Circular Knitting Machines imported from Taiwan.
The Dyeing Unit contains Imported H.T.H.P Soft flow Dyeing Machines,
Open Bath Winches, Hydro Extractors, and Pole Driers having production capacity
of 300 Tons of Fabric / Month.
The Finishing unit is equipped with Imported Rasing Machines, Brushing
Machines, Shearing Machines, Tumblers and stenter.
The Garmenting unit consists of Juki Stitching Machines, Pegasus Over
lock Machines, Electronic Cutters, imported Computerized Embroidery Machines
and other Finishing machines for giving perfect finish to the garments at every
step right .
They also have strong Laboratory facility equipped with infrared
Beaker Dyeing Machine, Laundermeter, crockmeter, Color Matching Cabinet,
Spectrophotometer, Sample Soft flow Dyeing Machine and Sample Garment Dyeing
Machine. This Lab form the basis for the testing and R and D.
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.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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46 |
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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