MIRA
INFORM REPORT
|
Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNION SPORTS INTERNATIONAL |
|
|
|
|
Registered Office : |
New Rasila Nagar, Near Indo – German School, Basti Danishmanda,
Jalandhar – 144 002, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1996 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Inflatable Balls. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Name : |
Mr. Ramesh Kumar |
|
Designation : |
Partner |
|
Date : |
19.09.2008 |
LOCATIONS
|
Registered Office / Factory : |
New Rasila Nagar, Near Indo – German School, Basti Danishmanda,
Jalandhar – 144 002, Punjab, India |
|
Mobile No.: |
91-9876085819 / 9878599788 (Mr. Abhilash) |
|
Fax No.: |
91-181-2430775 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Ramesh Kumar |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Abhilash R |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Inflatable Balls. |
|
|
|
|
Products : |
· Soccer Balls · Rugby Balls · Volleyballs · Netballs · Hand Balls · Leather Balls · Wears · Miscellaneous Items |
|
|
|
|
Exports : |
|
|
Products : |
· Soccer Balls · Rugby Balls · Volleyballs · Netballs · Hand Balls · Leather Balls , etc |
|
Countries : |
USa, New Zealand,
Australia, UK and other European Countries. |
|
|
|
|
Terms : |
|
|
Selling : |
LC, Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
|
Suppliers : |
Own manufacturing |
|
|
|
|
No. of Employees : |
35 |
|
|
|
|
Bankers : |
Punjab National Bank, Jalandhar – 144 002, Punjab, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.500 millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
20.000 |
18.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12% |
12% |
Expected Sales (2008-09): Rs.30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
In this culturally, linguistically, regionally and politically diverse world, one thing that joins the spirit of masses, is sports. Every citizen of this global village has a special charm and obsession towards some sort of game and entertainment activity. With the vision to deliver the passionate sports professionals of this world with high quality sports goods and accessories, subject was incepted in the year 1996.
Based in Jalandhar, they are a leading manufacturer, supplier and exporter of premium quality inflatable balls. Their comprehensive portfolio includes footballs, rugby balls, volleyballs, netballs, hand balls, promotional balls, etc. Produced by following stringent quality control measures, their products exhibit durability and strength to withstand extreme handling. With their flawless finishing and optimum quality, they have set a strong foothold in the international sports goods arena.
In such a short span, their concern has poised to become the one stop shop for
all types of sports balls like rugby balls, etc. for the sports lovers spread
across the globe. By providing prompt after sales support and ensuring timely
delivery of the products, they aim at setting new benchmarks in the arena of
client satisfaction. Their export markets are centered in USA, New Zealand,
Australia, UK and other European countries.
What They Offer
A professionally managed business entity, the concern
is a globally recognized manufacturer, supplier and exporter
of the following products:
·
Soccer balls
·
Rugby balls
·
Volleyballs
·
Netballs
·
Hand balls
·
Leather balls
·
Wears
·
Miscellaneous items.
World Class Quality
To ensure impeccable quality, they follow a well defined
system of quality control at all levels. Only carefully selected and approved
raw materials are employed in the process, which are sourced from authentic
vendors of the market.
Every stage is supervised by experienced professionals
having extensive expertise in their respective discipline. All the process of
making balls are in - house including,
lamination (with imported machines), cutting of panels, printing, stitching
etc. i.e. all the processes are under their strict supervision.
More importantly their factory is completely free from child labour. Committed towards total client satisfaction, they dispatch their products after stringent testing procedures. After judging them on various parameters like strength, finish and quality, they are allowed to go in for packaging and are then dispatched for sale in the market. For the safe and undamaged transportation, they pack their products in:
·
Cotton cloth
·
Corrugated boxes/cartons
·
Hessian cloth.
Infrastructure
They boast of an outstanding facility comprising of state-of-the-art machines, well trained manpower and capacious storage facilities to execute every task efficiently and perfectly. Their in-house facilities for designing, production and quality control enable them to ensure bulk production of rugby balls and other balls within tight deadlines. The various equipment fitted at their facility include:
·
Lamination machines
·
Cutting machines
·
Chiseling equipments, to name a few.
Why Them?
The following factors
are responsible at large for their immense success in the market:
·
A well equipped facility armoured with modern
technologies
·
Team of well trained and experienced personnel
·
Impeccable quality, utmost customer satisfaction and
excellence--their hallmark
·
Trust and support of a large number of satisfied
clients from across the world
·
Detailed attention to the valuable feedback and
suggestions of their esteemed 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.32 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|