|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHRESTHA GARMENTS |
|
|
|
|
Registered
Office : |
35/2, Abinash Baerjee Lane, Howrah – 711104, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
2003 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.794 Millions |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Design, Manufacture and Supply of Readymade Garments (Ladies and Gent)
for the National and International Market.
|
|
|
|
|
No. of Employees
: |
122 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shankha Bandhopadhyay (Banerjee) |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9830083812 |
|
Date : |
01.08.2012 |
LOCATIONS
|
Registered/ Corporate Office : |
35/2, Abinash Baerjee Lane, Howrah – 711104, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9830083812 - Mr. Shankha Bandhopadhyay (Banerjee) 91-9038088086 - Mr. Pradeep |
|
Fax No.: |
Not Available |
|
Location : |
Owned |
|
|
|
|
Factory : |
Salil Kumar Bandhoopadhyay, Village 805, P.O. and P.S. Baruipur,
District- South 24 Parganas, Madarat, Tetultala, Ward No.-4, Kolkata –
700144, West Bengal, India |
SOLE PROPRIETOR
|
Name : |
Mr. Shankha Bandhopadhyay (Banerjee) |
|
Designation : |
Proprietor |
|
PAN No.: |
BHPPB9728R |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Design, Manufacture and Supply of Readymade Garments (Ladies and Gent)
for the National and International Market.
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Installed Capacity |
|
|
|
|
|
Garments (T-Shirt, GRS, Kids Wear) |
|
4500 Unit Per
Day |
GENERAL INFORMATION
|
Suppliers : |
· Tripati Textile · Handloom House Cloth Merchant · New Point International · MMP Cloth Merchant · Golden Handloom House · Shree Maheshwaree House Enterprises |
||||||||||||||||
|
|
|
||||||||||||||||
|
Customers : |
· Mahabir Traders · Mahabir Textile · Vishal Garments · Bazar Kolkata · Select Stores · Indian Cloth House · Manisquare Mall |
||||||||||||||||
|
|
|
||||||||||||||||
|
No. of Employees : |
122 (Approximately) |
||||||||||||||||
|
|
|
||||||||||||||||
|
Bankers : |
Bank of Maharashtra (Current A/c)
|
||||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Datta and Associates Chartered Accountant |
|
Address : |
10, Raja Kali Krishna Lane, Kolkata – 700005, West Bengal, India |
|
Tel. No.: |
91-9331937536 |
CAPITAL STRUCTURE
PROPRIETOR’S
CAPITAL ACCOUNT AS ON 31.03.2011
|
Particular |
Rs. In Millions |
|
|
|
|
Capital Account |
|
|
Opening Balance |
5.914 |
|
Add: Net Profit |
1.102 |
|
|
7.016 |
|
Less: Drawings |
0.222 |
|
|
|
|
Total |
6.794 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
The above information has been parted by Mr. Shankha Bandhopadhyay
(Banerjee).
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.794 |
5.914 |
4.222 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.794 |
5.914 |
4.222 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.794 |
5.914 |
4.222 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.017 |
1.134 |
1.265 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.355
|
3.812 |
2.663 |
|
|
Sundry Debtors |
2.379
|
2.015 |
1.623 |
|
|
Cash & Bank Balances |
0.123
|
0.120 |
0.116 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
6.857
|
5.947 |
4.402 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1.068
|
1.156 |
1.433 |
|
|
Other Current Liabilities |
0.012
|
0.011 |
0.012 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1.080
|
1.167 |
1.445 |
|
|
Net Current Assets |
5.777
|
4.780 |
2.957 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.794 |
5.914 |
4.222 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
51.247 |
37.564 |
30.954 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
51.247 |
37.564 |
30.954 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
43.115 |
32.106 |
26.859 |
|
|
|
Wages |
0.391 |
0.368 |
0.312 |
|
|
|
Power and Fuel for Factory |
0.098 |
0.089 |
0.075 |
|
|
|
Manufacturing Expense |
0.053 |
0.049 |
0.043 |
|
|
|
Job Charges |
0.201 |
0.189 |
0.160 |
|
|
|
Salary and Bonus |
1.225 |
0.491 |
0.343 |
|
|
|
Packing Charges |
1.877 |
1.448 |
1.013 |
|
|
|
Printing and Stationery |
0.052 |
0.049 |
0.037 |
|
|
|
Staff Welfare |
0.082 |
0.079 |
0.055 |
|
|
|
Travelling and Conveyance Expenses |
0.433 |
0.399 |
0.246 |
|
|
|
Other Expenses |
2.502 |
1.477 |
1.169 |
|
|
|
TOTAL |
50.029 |
36.744 |
30.312 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.218 |
0.820 |
0.642 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.116 |
0.132 |
0.153 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
1.102 |
0.688 |
0.489 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.15
|
1.83 |
1.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.15
|
1.83 |
1.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.99
|
9.72 |
8.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
0.20 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.35
|
5.10 |
3.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
No |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
No |
|
Last Accounts filed at ROC |
No |
|
Major Shareholders, if available |
No |
|
PAN of
Proprietor/Partner/Director, if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
MR. SHANKHA BANDHOPADHYAY (BANERJEE)
(PROPRIETOR)
BALANCE
SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16.762 |
16.256 |
15.888 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.762 |
16.256 |
15.888 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.762 |
16.256 |
15.888 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.183 |
15.350 |
13.451 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.574
|
0.903 |
2.436 |
|
|
Other Current Assets |
0.005
|
0.003 |
0.001 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.579
|
0.906 |
2.437 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
0.579
|
0.906 |
2.437 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.762 |
16.256 |
15.888 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
INCOME |
1.427 |
0.936 |
0.636 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Travelling and conveyance |
0.102 |
0.076 |
0.068 |
|
|
|
Clothing Expenses |
0.146 |
0.099 |
0.068 |
|
|
|
Repairing and maintenance |
0.035 |
0.028 |
0.022 |
|
|
|
Household Expenses |
0.167 |
0.135 |
0.088 |
|
|
|
Telephone Expenses |
0.103 |
0.086 |
0.057 |
|
|
|
Electric Charges |
0.079 |
0.055 |
0.045 |
|
|
|
Entertainment Expenses |
0.223 |
0.059 |
0.000 |
|
|
|
Donation |
0.033 |
0.001 |
0.000 |
|
|
|
TOTAL |
0.888 |
0.539 |
0.348 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.539 |
0.397 |
0.288 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
37.77
|
42.41 |
45.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
93.09
|
43.82 |
11.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.00
|
0.00 |
0.00 |
------------------------------------------------------------------------------------------------------------------------------
FOR MANUFACTURING ENTITIES /
FACTORY SITE (S)
|
Location of Plot, accessibility, proximity to other units |
Residential Area (Interior) |
|
|
|
|
Major branded and imported machines, installed |
Generator, Sewing Machines (Kirloskar) |
|
|
|
|
Pollution Control: Any pollutants being generated and their disposal |
Yes |
|
|
|
|
Power: Connected load and back up availability |
Yes |
|
|
|
|
Inventory / WIP / Finished Goods at the Site |
Yes |
|
|
|
|
Storage / Security / Perishability / Susceptibility to fire and weather |
Yes |
|
|
|
|
Quality Certification |
Yes (ISO) |
|
|
|
|
Workers / |
No Union |
|
|
|
|
History of any strikes / any child labour / working conditions |
No Child Labour |
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.