MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL KNITWEARS |
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Registered Office : |
1217, Street 2, Kashmir Nagar, Gowshalla Road, 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 : |
1976 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Defence Caps, Badges, Buttons, Buckles
and Sticks. |
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 5000 |
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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. Anil Saharan |
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Designation : |
Husband of Proprietor |
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Contact No.: |
91-9872897227 |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office : |
1217, Street 2, Kashmir Nagar, Gowshalla Road, Ludhiana – 141 008,
Punjab, India |
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Tel. No.: |
91-161-2609953 |
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Mobile No.: |
91-9872897227/ 9888697227 |
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Fax No.: |
91-161-2227227 |
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E-Mail : |
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Website : |
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Area : |
3500 Sq. ft. |
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Location : |
Owned |
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Factory : |
B-6/790, Gaushela Road, Ludhiana – 141 008, Punjab, India |
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Area : |
3200 Sq. ft. |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mrs.Vimal Saharan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 Years |
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Qualification : |
B.Com |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Defence Caps, Badges, Buttons, Buckles
and Sticks. |
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Products : |
v Badges (Chrome Plated/Gold Plated/Anodized) v Buckles (Chrome Plated/Gold Plated/Anodized) v Buttons (Chrome Plated/Gold Plated/Anodized) v Shoulder Titles (Chrome Plated/Gold Plated/Anodized) v Pips v Spurs v Swagger Canes v Plate Buckles/Locket Buckles/Cage Buckles v Pace Sticks v Beret Caps v Woolen Jersey, Socks and Gloves v Aiguillette v Lanyards v Belts (Leather, Stable, Nylon and Sam Brown Belt) v Embroidered Goods (Hand and Machine Made). |
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Exports : |
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Products : |
v Garment
Accessories |
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Countries : |
v African
Countries |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v Local Customers v End Users |
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No. of Employees : |
Total : 22 (Office : 2, Factory : 20) |
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Bankers : |
v State Bank of
India Feroz Gandhi Market, Ludhiana – 141 008, Punjab, India |
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Facilities : |
CC [The concern reported to enjoy some cash credit facility from its
bankers] |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vijay Sood and Associates Chartered Accountants |
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Address : |
Gill Road, Ludhiana – 141 008, Punjab, India |
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Tel. No.: |
91-161-2536636 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
10.000 |
7.800 |
7.700 |
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Profit/Loss for the year |
0.000 |
0.520 |
0.500 |
Expected Sales (2008-09): Rs. 15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Ministry of Defence India
v
Marblefare India, New Delhi
v
ALPS International Exports, Delhi
v
G V Saharan – Ludhiana
v
Army Equippers – New Delhi
As Per Website Details
Subject is
epitomize durability, reliability and trust. Being pioneers in the field of
Military Uniform Accessories and nearing five decades of experience in the
industry, they have carved a niche in the arena. They are a leading manufacturer
and exporter of Military
Uniform Accessories and other allied products. The range of products includes badges,
buckles, buttons, shoulder titles, medals, swagger canes, woolen jerseys,
woolen socks, gloves, leather belts, aiguillette,
lanyards, beret caps, embroidered goods, etc.
They strive to completely understand the exact requirements of the valued
clients, meeting and exceeding their expectations. The remarkable position
enables us to offer the customers excellent products, rich in the parameters of
quality and durability. Adherence to timely delivery schedules and competitive
prices has won us a large number of clients from India and worldwide.
Infrastructure
The infrastructure plays an important role in enabling us to meet the exact
requirements and standards of the industry. The strong and comprehensive
infrastructure comprised of latest machines and highly experienced experts give
us a competitive edge in the market. The machines function with high level of
time and cost efficiency resulting in reasonably priced products for the
customers.
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 :
The 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.
The 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. 43.79 |
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UK Pound |
1 |
Rs. 80.05 |
|
Euro |
1 |
Rs. 64.56 |
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 |
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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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, they have no basis upon which to
recommend credit dealings |
No Rating |
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