MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
K D MILITARY STORES |
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Registered Office : |
Street No. 1, Madhopuri, Ludhiana
– 141 008, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1967 |
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IEC No.: |
*3097000917 |
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PAN No.: [Permanent
Account No.] |
ADXPD5524A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of quality
Military Dress Uniforms. |
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 8000 |
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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. Raju Dhain |
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Date : |
01.10.2008 |
LOCATIONS
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Registered Office / Factory : |
Street No. 1, Madhopuri,
Ludhiana – 141 008, Punjab, India |
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Tel. No.: |
91-161-2225505/2225866 |
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Fax No.: |
91-161-2700137 |
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E-Mail : |
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Website : |
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Area : |
350 Sq.Mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sonu Dhain |
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Designation : |
Proprietor cum Chief Executive Officer |
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Date of Birth/Age : |
28 years |
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Qualification : |
Graduate |
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Experience : |
6 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of quality
Military Dress Uniforms. |
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Products : |
· Military Jersey o
Woollen
Jersey o
Acrylic T/Cot
Patches Jersey · Military Caps o
Beret Caps o
Balaclava Cap
(Monkey Cap) o
Civil Cap o
Woollen Cap · Military Socks o
Cotton Socks o
Acrylic Socks · Military Gloves · Military T-Shirts · Regimental Ribbon Bar |
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Exports : |
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Countries : |
UK, African Countries and Europe |
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Terms : |
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Selling : |
LC, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
Government of India |
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No. of Employees : |
50 |
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Bankers : |
Bank of India, Ludhiana -141 008, Punjab, India |
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Banking
Relations : |
--- |
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Associates/Subsidiaries : |
K D Hosiery Mills |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 1.500 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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10.000 |
9.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs.15.000 millions
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
K D MILITARY STORES |
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Address |
Street No. 1, Madhopuri,
Ludhiana – 141 008, Punjab, India |
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2nd Address |
91-161-2225505/2225866 |
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Fax Number |
91-161-2700137 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship firm |
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Income Tax Registration |
ADXPD5524A |
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VAT / TIN Registration |
*03451073159 |
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Import Export Code |
*3097000917 |
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Name of Bank |
Bank of India, Ludhiana – 141 008, Punjab,
India |
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Creditability Factors |
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Years of Establishment |
1967 |
WEBSITE DETAILS:-
Concern Profile
Established in 1967,
the concern is a well established organization engaged in the manufacture and
export of quality military dress uniforms, military uniforms / army uniforms
such as military socks, military gloves, military caps, military t-shirts,
woolen joursey that are used around the world. For their years of experience in
this business, the customers can rely on their experience and their commitment
to the newest technology to provide them with quality military uniform / army
uniforms and a first class service.
Products
They manufacture and supply best range of military dresses and army uniforms
such as military socks and military gloves. Their product range includes:-
Military Dresses
and Uniforms / Army Uniforms
o
Woollen Jersey
o
Acrylic T/Cot
Patches Jersey
o
Beret Caps
o
Balaclava Cap
(Monkey Cap)
o
Civil Cap
o
Woollen Cap
o
Cotton Socks
o
Acrylic Socks
· Military Gloves
· Military T-Shirts
· Regimental Ribbon Bar
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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 |
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 |
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 |
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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