MIRA
INFORM REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
D C KNITWEAR |
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Registered Office : |
1703/5, Krishan Vihar, Tibba Road, Ludhiana-141008, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
1967 |
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IEC No.: |
3307006945 |
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TIN No.: |
03081157025 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer, Exporter and Trader of Knitwear’s like Beret Wool Cap,
Military Beret caps, Basque Beret Caps socks, gloves, |
RATING & COMMENTS
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MIRA’s Rating : |
B (37) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 proprietoriship concern in its field. Its scale of
activities are limited. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. The concern can be considered for small business dealing at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Ajaykumar Dogra |
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Designation : |
Proprietor |
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Contact No.: |
91-988900196 |
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Date : |
03.02.2011 |
LOCATIONS
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Registered Office/ Factory : |
1703/5, Krishan Vihar, Tibba Road, Ludhiana-141008, |
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Tel. No.: |
91-161-2632119 |
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Mobile No.: |
91-9888900196 (Mr. Ajay Kumar Dogra) |
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E-Mail : |
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Website : |
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Area : |
1350 sq.ft. (Owned) |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ajaykumar Dogra |
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Designation : |
Proprietor |
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Date of Birth/Age : |
25 years |
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Qualification : |
BCA |
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Experience : |
4 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Knitwear’s like Beret Wool Cap, Military
Beret caps, Basque Beret Caps, socks, gloves, Jerseys, Lanyards. |
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Products : |
·
Beret Wool Cap ·
Fancy Wool Cap ·
Military Beret ·
Basque Beret Cap |
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Exports : |
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Products : |
·
Beret Wool Cap ·
Fancy Wool Cap ·
Military Beret |
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Countries : |
Brazill, USA and Canada, United Kingdom, Africa |
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Terms : |
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Selling : |
L/C, Cash and Credit ( 30 Days) |
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Purchasing : |
Cash and Credit ( 30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
v Central Bank of
India, Ludhiana, Punjab, India v ICICI Bank,
Sudar Nagar, Ludhiana, Punjab, India |
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Facilities : |
Cash Credit Limit – 0.500 million |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Harish Malhotra Chartered Accountant |
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Address : |
Ludhiana, Punjab, India |
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Sister Concern : |
Bharti Dyeing House Address: 1703/5, Krishan Vihar, Tibba Road, Ludhiana-141008, Line of Business : Manufacturer, Exporter and Trader of Knitwear’s
like Beret Wool Cap, Military Beret caps, Basque Beret Caps socks, gloves,
Jerseys, Lanyards. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.200 million (approximately) |
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Borrowed : |
-- |
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Total : |
Rs. 0.200 million (approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
31.03.2009 |
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Sales Turnover |
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4.900 |
3.800 |
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Expected Sales (2010-2011) : Rs.4.600 millions
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Introduction
Subject was founded in
Subject is a total vertical operation – going from raw spun yarn to
quality finished knitwear product. The production plants are in Ludhiana and
house the administrative office, design centre, dye house, yarn room, knitting
machinery’s and sew facilities, packaging and shipping department. The
modernized facilities allow them to design and produce quality knitwear that
meets customer demands. They have the ability to re-knit and produce items in
season with fast turn around
The mission is to provide quality knitwear that satisfies the needs of
both consumer purchaser and their end consumers. They strive to remain
competitive through diversification and export. By constant investing on new
machinery, they strive to “remain in the cutting edge of technology” and to be
right on top of consumer demands
Bharti Dyeing House is well establish dyeing in
india for beret. Bharti dyeing is only dyeing for fast color on beret. The
dyeing unit dye beret for indian exporters and indian local buyers.
History:
Subject Established in 1967 by Mr. Deewan Chand
Dogra. Subject start with small unit with four partners with time three
partners separate their business and d c knitwear comes under Mr. Deewan Chand
Dogra. Now Subject running under Mr. Ajay Dogra , younger grandson of Mr.
Deewan Chand Dogra.
Bharti Dyeing House, Established in 1987 by Mr.
Yashpal Dogra s\o Mr Deewan Chand Dogra. Mr. Yashpal Dogra start dyeing by
himself now Bharti dyeing is also running under Mr. Bharti Dogra, elder son of
Mr. Yashpal Dogra
Achievements:
D C Knitwear is first ever firm supply beret
to Bangladesh when Bangladesh Established Beret of subject approved from USA
Government and fastness of Beret, from Bharti Dyeing House, is approved from
Indian, USA and Belgium Laboratories.
D C Knitwear supply beret to Indian Government
suppliers and Indian exporters for many years.
Bharti Dyeing House dye beret for all the exporters
in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.45.20 |
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1 |
Rs.73.16 |
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Euro |
1 |
Rs.61.88 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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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37 |
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 |
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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.