1. Summary Information
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|
Country |
|
|
Company Name |
A B SALES CORPORATION |
Principal Name 1 |
Mrs. Rekha Goenka |
|
Status |
Good |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
No. 19, |
||
|
Established Date |
1979 |
SIC Code |
-- |
|
Telephone# |
91-44-24363710 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-24363710 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Leathers Goods |
|
|
# of employees |
100 (Approximately) |
Product Name 2 |
Shoes |
|
Paid up capital |
Not
Available |
Product Name 3 |
Shoe Uppers |
|
Shareholders |
-- |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
32 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
|
Leather Crafts India Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
A B SALES CORPORATION |
|
|
|
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Registered
Office : |
No. 19, |
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|
|
|
Country : |
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|
|
|
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Year of
Establishment : |
1979 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
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|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of All Types of Small Leather Goods and
Shoes, Shoe Uppers etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established proprietory concern having fine track.
Trade relations are reported as fair. Business is active. Payments are
reported to be correct and as per commitments. The concern can be considered good for normal 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 PARTED BY
|
Name : |
Mr. Mohan Goenka |
|
Designation : |
MD |
|
Contact No.: |
91-44-24363710 |
|
Date : |
23.05.2011 |
LOCATIONS
|
Registered Office/ Factory 1: |
No. 19, |
|
Tel. No.: |
91-44-24363710 |
|
Mobile No.: |
91-9884225299 (Mr. Bharath Goenka) 91-9884010964 (Mr. Adithya Goenka) |
|
Fax No.: |
91-44-24363710 / 24327765 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory 2: |
Leather Crafts ( Plot No. AP 1, Mahindra World City SEZ, Natham Sub PO, Chengalpet,
Kancheepuram-603002 District, |
|
Tel. No.: |
91-44-47490080 / 180 |
|
Fax No.: |
91-44-47490080 / 180 |
|
|
|
|
Factory 3: |
Leather Crafts
India Limited 41-A, |
|
|
|
|
Factory 4: |
Crew MAG Exports
Limited No. 407/7, |
|
Tel. No.: |
91-44-22418864 / 22414700 |
|
Fax No.: |
91-44-22418864 / 22414700 |
|
Email: |
|
|
|
|
|
Factory 5: |
Satyam Creations
P Limited Warsi Corporation Compound, No. 5, |
|
|
|
|
Branch Office: |
Locate at: Kolkata |
SOLE PROPRIETOR
|
Name : |
Mrs. Rekha Goenka |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of All Types of Small Leather Goods and Shoes,
Shoe Uppers etc. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
|
|
|
Imports : |
|
|
Products : |
Chemicals Accessories |
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Credit |
PRODUCTION STATUS
|
Particulars |
Installed
Capacity |
|
Leather goods per annum |
3.5 Millions |
|
Leather shoes per month |
35000 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Address: Plot No. AP 1, Mahindra World
City SEZ, Natham Sub PO, Chengalpet, Kancheepuram-603002 District, Tel. No.: 91-44-47490080
/ 180 Fax No.: 91-44-47490080 / 180
Address: 41-A,
Address: No. 407/7, Tel No.: 91-44-22418864 / 22414700 Fax No.: 91-44-22418864 / 22414700
Address: Warsi Corporation Compound, No. 5,
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- DBA The
American Belt Company 1355
- Reborn
Products Co Inc.,
Profile:
This is a proprietorship firm that is functioning for the past 25 years.
This is a part of the Leather Crafts Group. This unit functions as one of their
production unit producing leather purses, bags, and other leather articles. In
other words it a separate production unit functioning under the management of
LCI group and the produced articles are absorbed by LCI and exported by them.
Given below is a write up on the group.
Now, Mrs. Rekha Goenka is the owner of the whole group. Other family
members like Mr. Mohan Goenka, Mr Aditya Goenka, Mr Bharath Goenka all are
active management team who lead the firm. They are 100% exporters and are a
very reputed and famous group in
The flagship company Leather Crafts (
LCI was initially set up with technical assistance from
They are ISO 9001:2000 accredited.
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.45.29 |
|
|
1 |
Rs.73.84 |
|
Euro |
1 |
Rs.64.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.