%20PRIVATE%20LIMITED%20-%20142658%2023-May-2011_files/image002.jpg){kind=small}
1. Summary Information
|
|
|
Country |
|
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Company Name |
COTTON
NATURALS ( |
Principal Name 1 |
Mr. Varun Sharma |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Tokie Sharma |
|
|
|
Registration # |
55-89938 |
|
Street Address |
E-28,
Connaught Place, New Delhi-110001, |
||
|
Established Date |
30.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-11-23326011 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-11-23325720/2568314 |
Business Style 2 |
Exporters |
|
Homepage |
Product Name 1 |
Readymade Garments |
|
|
# of employees |
-- |
Product Name 2 |
Breeches |
|
Paid up capital |
Rs.19,900,000/- |
Product Name 3 |
Shirts |
|
Shareholders |
Directors or relatives of the Directors
100% |
Banking |
Citi Bank |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
181,649,000 |
Current Liabilities |
31,136,000 |
|
Inventories |
8,746,000 |
Long-term Liabilities |
19,925,000
|
|
Fixed Assets |
103,095,000 |
Other Liabilities |
1,103,000 |
|
Deferred Assets |
000 |
Total Liabilities |
52,164,000 |
|
Invest& other Assets |
28,375,000 |
Retained Earnings |
249,801,000 |
|
|
|
Net Worth |
269,701,000 |
|
Total Assets |
321,865,000 |
Total Liab. & Equity |
321,865,000 |
|
Total Assets (Previous Year) |
3,15,815,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
226,791,000 |
Net Profit |
53,965,000 |
|
Sales(Previous yr) |
150,002,000 |
Net Profit(Prev.yr) |
5,421,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
COTTON NATURALS ( |
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|
|
|
Registered Office : |
E-28, Connaught Place, New Delhi-110001 |
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|
Country : |
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|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
30.09.1997 |
|
|
|
|
Com. Reg. No.: |
55-89938 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.19.900 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U18101DL1997PTC089938 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELC04552C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Readymade Garments |
|
|
|
|
No. of Employees: |
Not Divulged by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. Pandey |
|
Designation : |
Accountant |
|
Contact No.: |
91-120-43169061 |
|
Date: |
21.05.2011 |
LOCATIONS
|
Registered Office / Head Office : |
E-28, Connaught Place, New Delhi-110001, |
|
Tel. No.: |
91-11-23326011/23350026 / 23416011 |
|
Fax No.: |
91-11-23325720/2568314 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C-100, Sector 2, Noida-201 301, |
|
Tel. No.: |
91-120-2530172/2553794 / 23326011 / 4316904 / 05 |
|
Fax No.: |
91-120-2555180 / 23325720 |
|
|
|
|
Factory 1 : |
A-28, A-31, Sector 59, Noida-201301, |
|
Area : |
5,000 sq. fts. (Rented) |
|
Location : |
Commercial |
DIRECTORS
|
Name : |
Mr. Varun Sharma |
|
Designation : |
Director |
|
Address : |
A-39, Vasant
Marg, Vasant Vihar, |
|
Tel No. : |
91-11-26568314 |
|
Date of Birth/Age : |
17.08.1960 |
|
Date of Appointment : |
26.07.1999 |
|
|
|
|
Name : |
Mr. Tokie Sharma |
|
Designation : |
Director |
|
Address : |
A-39, Vasant
Marg, Vasant Vihar, |
|
Date of Birth/Age : |
03.02.1969 |
|
Date of Appointment : |
26.07.1999 |
KEY EXECUTIVES
|
Name : |
Ms. Mamta |
|
Designation : |
Import-Export Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Varun Sharma |
|
995000 |
|
Mr. Tokie Sharma |
|
995000 |
|
|
|
|
|
Total |
|
1990000 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Readymade Garments |
|
|
|
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2009)
|
Particulars |
|
|
|
Actual
Production |
|
Breeches/ Shirts/ Waist Coats/ Jacket |
|
|
|
286810 |
GENERAL INFORMATION
|
Bankers : |
|
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Facilities : |
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|
|
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Banking
Relations : |
- |
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|
|
|
Auditors : |
|
|
Name : |
Dharam Raj & Company Chartered Accountants |
|
Address : |
R-24/10, 1st Floor, Rita Block, Vikas Marg,
Shakarpur, |
|
Tel. No.: |
91-11-22469410 /55374331 / 22014726 |
|
Mobile No.: |
91-9811327272 |
|
Fax No.: |
91-11-22525118 / 22014728 |
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E-Mail : |
|
|
|
|
|
Group Company : |
Jaipur Polo Company Address : E-28, Tel. 91-11-2332 6011 Fax. 91-11-2332 5720 E Mail : sales@jpc-india.com Website : http://www.jpc-india.com Line of Business : Engaged in manufacturing of riding breeches, polo shirts, trousers and other JPC Equipment Inc |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Share |
Rs.10/ each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1990000 |
Equity Share |
Rs.10/ each |
Rs.19.900
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.900 |
19.900 |
19.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
249.801 |
195.836 |
190.415 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
269.701 |
215.736 |
210.315 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
19.925 |
79.784 |
88.198 |
|
|
TOTAL BORROWING |
19.925 |
79.784 |
88.198 |
|
|
DEFERRED TAX LIABILITIES |
1.103 |
1.201 |
1.377 |
|
|
|
|
|
|
|
|
TOTAL |
290.729 |
296.721 |
299.890 |
|
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|
|
|
|
|
|
APPLICATION OF FUNDS |
|
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|
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FIXED ASSETS [Net Block] |
103.095 |
108.060 |
108.302 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
28.375 |
28.375 |
28.375 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.746
|
17.825
|
20.128
|
|
|
Sundry Debtors |
83.353
|
43.795
|
35.776
|
|
|
Cash & Bank Balances |
8.814
|
12.089
|
15.824
|
|
|
Other Current Assets |
6.526
|
47.595
|
55.115
|
|
|
Loans & Advances |
82.956
|
58.076
|
55.801
|
|
Total
Current Assets |
190.395
|
179.380
|
182.644 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
31.136
|
19.094
|
19.431
|
|
|
Provisions |
0.000
|
0.000
|
0.000
|
|
Total
Current Liabilities |
31.136
|
19.094
|
19.431
|
|
|
Net Current Assets |
159.259
|
160.286
|
163.213
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.729 |
296.721 |
299.890 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
|
|
|
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Sales Turnover Including Other Income |
226.791 |
150.002 |
138.658 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
54.853 |
5.965 |
25.838 |
|
|
Provision for Taxation |
0.888 |
0.544 |
0.627 |
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|
Profit/(Loss) After Tax |
53.965 |
5.421 |
25.211 |
|
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Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Sales |
213.600 |
145.600 |
133.702 |
|
|
Interest Income |
2.000 |
2.000 |
2.052 |
|
Total Earnings |
215.600 |
147.600 |
135.754 |
|
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Imports : |
|
|
|
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Raw Materials |
6.847 |
7.012 |
78.687 |
|
|
Capital Goods |
1.763 |
1.693 |
2.009 |
|
Total Imports |
8.610 |
8.705 |
80.696 |
|
|
|
|
|
|
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Total Expenditure |
171.938 |
144.037 |
112.820 |
|
|
|
|
|
|
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|
Earnings Per Share (Rs.) |
27 |
3 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
23.79
|
3.61 |
18.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.69
|
2.07 |
8.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.03 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.19
|
0.46 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.11
|
9.39 |
9.40 |
LOCAL AGENCY FURTHER INFORMATION
Fixed
Assets
- Land
- Transit House / Corporate Office
- Plant and Machinery
- Vehicles
- Computer
- Office Equipments
- Furniture and Fixture
- Fan and Collar
- Fire Extinguishers
- Electrical Fitting
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 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.44.93 |
|
|
1 |
Rs.72.91 |
|
Euro |
1 |
Rs.64.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.