MIRA INFORM REPORT

 

 

Report Date :           

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

PRAMPTEX AGARWAL TEXTILES INC. 

 

 

Registered Office :

38 Corner Ridge Road Aurora, Ontario Canada - L4G 6L2

 

 

Country :

Canada

 

 

Year of Establishment :

2002

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Textile Trading

 

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 100,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct

Litigation :

Clear

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

 

GEOPOLITICS - CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Pramptex Agarwal Textiles Inc

Address in the order:

38 CORNER RIDGE ROAD AURORA, ONTARIO CANADA - L4G 6L2

Comments on data supplied:

The company moved from 17 Rue Hickory

Dollard-Des-Ormeaux, QC H9G 3B7, to 38 CORNER RIDGE ROAD AURORA, ONTARIO in 2009-07-01

Legal Name:`

PRAMPTEX AGARWAL TEXTILES INC.

 

 

Legal Address

38 CORNER RIDGE ROAD AURORA, ONTARIO CANADA - L4G 6L2

 

 

Telephone:

(514) 624-3233     

ID :

NA

Fax:

(514) 624-3233     

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Canada

Website:

NA

Date Created:

2002

Manager:

MAMTA AGARWAL, PRESIDENT & BOARD MEMBER

Date Incorporated:

NA

Staff:

3

Stock:

NA

 

 

Value:

NA

Activity:

Textile trading

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

BUSINESS

 

HISTORY

 

The company was created in 2002

PRINCIPAL ACTIVITY

 

Textile trading

Products/Services description:

 

The company operates in the international trading of textile yarns market. They offer their services in several countries, including North America, Colombia and Japan.

 

While most of their manufacturers are based in Asia, and most of our customers are based in North, Central and South America

Operations area:

 

National, International

The subject employs 3 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

38 CORNER RIDGE ROAD AURORA, ONTARIO

Comments on location:

 

The company moved from 17 Rue Hickory

Dollard-Des-Ormeaux, QC H9G 3B7, to 38 CORNER RIDGE ROAD AURORA, ONTARIO in 2009-07-01

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company. The Agarwal family is the main shareholder.

Management:

 

MAMTA AGARWAL, PRESIDENT & BOARD MEMBER

RAJIV AGARWAL, SECRETARY-TREASURER & BOARD MEMBER

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

CAD

2010

Turnover

9,371,000

The cash flow is

NORMAL

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

Rating

 

Local credit bureau gave a correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This is a small sized Canadian company, which employs 3 people and has 8 years of experience in the market.

 

The company provides worlwide services in the trading industry.

 

It is a family owned business and the structure is small, but stable.

 

A credit line may be considered for USD 100,000

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Comments

 

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.73.46

Euro

1

Rs.64.58

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.