Business
information report
1. Summary Information
|
|
|
Country |
|
|
Company Name |
EASTMAN EXPORTS GLOBAL CLOTHING PRIVATE LIMITED |
Principal Name 1 |
Mr. Nachimuthu Chandran |
|
Status |
Good |
Principal Name 2 |
Ms. Chandran Nirmaladevi |
|
|
|
Registration # |
18-010525 |
|
Street Address |
10 12 Kumarnagar (South) 2nd Street, Tirupur, Coimbatore
District – 641603, Tamilnadu |
||
|
Established Date |
26.03.2003 |
SIC Code |
-- |
|
Telephone# |
91-421-4301234 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-421-4301205 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Knitted Garments |
|
|
# of employees |
2500 (Approximately) |
Product Name 2 |
Men’s Wear |
|
Paid up capital |
Rs. 143,487,000/- |
Product Name 3 |
Women’s Wear |
|
Shareholders |
Others – 100% |
Banking |
City Union Bank
Limited |
|
Public Limited Corp. |
No |
Business Period |
9 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba (51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Parties |
India
|
Mills Private
Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,005,187,000 |
Current Liabilities |
414,262,000 |
|
Inventories |
1,981,180,000 |
Long-term Liabilities |
4,370,261,000 |
|
Fixed Assets |
3,656,739,000 |
Other Liabilities |
274,576,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
5,059,099,000 |
|
Invest& other Assets |
4,183,000 |
Retained Earnings |
2,444,703,000 |
|
|
|
Net Worth |
2,588,190,000 |
|
Total Assets |
7,647,289,000 |
Total Liab. & Equity |
7,647,289,000 |
|
Total Assets (Previous Year) |
5,920,740,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
9,381,919,000 |
Net Profit |
357,557,000 |
|
Sales(Previous yr) |
8,863,386,000 |
Net Profit(Prev.yr) |
312,275,000 |
MIRA
INFORM REPORT
|
Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
EASTMAN EXPORTS
GLOBAL CLOTHING PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
COTTON CANDY
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10 12 Kumarnagar (South) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.03.2003 |
|
|
|
|
Com. Reg. No.: |
18-010525 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 143.487 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TZ2003PTC010525 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBC03790D / CMBE03291B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC0952E / AAAFE6670L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Knitted Garments, Men’s and Women’s wear. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having good track. Financial
position appears to be sound. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as pre commitments. The company can be considered good 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 –
September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
10 12 Kumarnagar (South) |
|
Tel. No.: |
91-421-4301234 |
|
Fax No.: |
91-421-4301205 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
5/591, Sri Lakshmi Nagar, Pitchampalayam Pudur Tirupur – 641603,
Tamilnadu |
DIRECTORS
AS ON 23.09.2011
|
Name : |
Mr. Nachimuthu Chandran |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
10, 12, Kumaranagar (South), 2nd Street, Tirupur,
Coimbatore-641603, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1952 |
|
Date of Appointment : |
26.03.2003 |
|
DIN No.: |
00012965 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17121TZ1982PTC001162 |
INDIA
PROCESSING MILLS PRIVATE LIMITED |
Director |
27/03/1982 |
27/03/1982 |
- |
Active |
NO |
|
2 |
U17121TZ1983PTC001368 |
INDIA
DYEING MILLS PRIVATE LIMITED |
Managing
director |
08/03/2011 |
19/12/1983 |
- |
Active |
NO |
|
3 |
U15143TZ1984PTC001499 |
CHOLA
OIL REFINERIES PRIVATE LIMITED |
Director |
08/03/1985 |
08/03/1985 |
- |
Active |
NO |
|
4 |
U17111TZ1993PTC004551 |
EASTMAN
SPINNING MILLS PRIVATE LIMITED |
Managing
director |
08/03/2011 |
24/08/1993 |
- |
Active |
NO |
|
5 |
U17115TZ1989PTC002424 |
EASTMAN
PROCESSING MILLS PRIVATE LIMITED |
Director |
30/09/1994 |
30/09/1994 |
- |
Active |
NO |
|
6 |
U18101TZ1998PTC008454 |
EASTMAN
GARMENTS PRIVATE LIMITED |
Director |
22/06/1998 |
22/06/1998 |
- |
Active |
NO |
|
7 |
U05110TZ1998PTC008644 |
EASTMAN
EXPORTS PRIVATE LIMITED |
Director |
17/11/1998 |
17/11/1998 |
- |
Active |
NO |
|
8 |
U72200TZ1999PTC008916 |
EASTMAN
SOFTWARE SOLUTIONS PRIVATE LIMITED |
Director |
29/06/1999 |
29/06/1999 |
- |
Active |
NO |
|
9 |
U17219TZ1998PTC008455 |
EASTMAN
CLOTHING COMPANY PRIVATE LIMITED |
Managing
director |
16/08/2011 |
14/02/2002 |
- |
Active |
NO |
|
10 |
U18101TZ2003PTC010525 |
EASTMAN
EXPORTS GLOBAL CLOTHING PRIVATE LIMITED |
Managing
director |
26/03/2003 |
26/03/2003 |
- |
Active |
NO |
|
11 |
U17121TZ1998PTC008645 |
EASTMAN
KNIT PROCESSING PRIVATE LIMITED |
Director |
31/03/2003 |
31/03/2003 |
- |
Amalgamated |
NO |
|
12 |
U18109TZ2003PTC010713 |
EASTMAN
DESIGN SOLUTIONS PRIVATE LIMITED |
Director |
07/08/2003 |
07/08/2003 |
- |
Active |
NO |
|
13 |
U72200TZ2003PTC010712 |
EASTMAN
GRAPHICS AND DESIGN SOLUTIONS PRIVATE LIMITED |
Director |
07/08/2003 |
07/08/2003 |
- |
Active |
NO |
|
14 |
U17111TZ1987PTC002054 |
EASTMAN
TEXTILE MILLS PRIVATE LIMITED |
Director |
26/02/2004 |
26/02/2004 |
- |
Active |
NO |
|
15 |
U01712TZ2004PTC011293 |
EASTCOAST
PROCESSING PRIVATE LIMITED |
Director |
26/08/2004 |
26/08/2004 |
- |
Active |
NO |
|
16 |
U18101TZ2004PTC011298 |
EASTMAN
GLOBAL BRANDS INDIA PRIVATE LIMITED |
Director |
27/08/2004 |
27/08/2004 |
- |
Amalgamated |
NO |
|
17 |
U18101TZ2004PTC011310 |
EASTWAY
HOME TEXTILES INTERNATIONAL PRIVATE LIMITED |
Director |
01/09/2004 |
01/09/2004 |
- |
Active |
NO |
|
18 |
U74220TZ2006PTC012550 |
TEXTILE
TESTING LABORATORIES INDIA PRIVATE LIMITED |
Managing
director |
16/08/2011 |
06/02/2006 |
- |
Active |
NO |
|
19 |
U18101TZ2000PTC009588 |
ALLIANCE
CLOTHING PRIVATE LIMITED |
Director |
29/09/2006 |
29/09/2006 |
- |
Amalgamated |
NO |
|
20 |
U74899DL1978NPL008877 |
APPAREL
EXPORT PROMOTION COUNCIL. |
Director |
30/09/2009 |
04/10/2006 |
- |
Active |
NO |
|
21 |
U70200TZ2008PTC014493 |
REDSAND
HOLDINGS PRIVATE LIMITED |
Director |
22/05/2008 |
22/05/2008 |
- |
Active |
NO |
|
22 |
U70200TZ2008PTC014492 |
MYNNA
HOLDINGS PRIVATE LIMITED |
Director |
22/05/2008 |
22/05/2008 |
- |
Active |
NO |
|
23 |
U51491TZ2008PTC014921 |
EASTMAN
EXPORTS APPARELS INDUSTRIES PRIVATE LIMITED |
Director |
12/12/2008 |
12/12/2008 |
28/11/2009 |
Active |
NO |
|
24 |
U70109TZ2009PTC015351 |
EASTMAN
HOLDINGS PRIVATE LIMITED |
Director |
20/07/2009 |
20/07/2009 |
- |
Active |
NO |
|
25 |
U80302TZ2011PTC017210 |
EASTMAN
EDUCATION PRIVATE LIMITED |
Director |
29/06/2011 |
29/06/2011 |
- |
Active |
NO |
|
26 |
U80302TZ2011PTC017211 |
EASTMAN
LEARNING SOLUTIONS PRIVATE LIMITED |
Managing
director |
19/09/2011 |
29/06/2011 |
- |
Active |
NO |
|
27 |
U17100TZ2012PTC018256 |
HUETRAP
CLOTHING PRIVATE LIMITED |
Director |
14/05/2012 |
14/05/2012 |
- |
Active |
NO |
|
Name : |
Ms. Chandran Nirmaladevi |
|
Designation : |
Director |
|
Address : |
No.3, White Filed, Tirupur, Illam Backside, Coimbatore-641603,
Tamilnadu, India |
|
Date of Birth/Age : |
12.09.1962 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
01820532 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U18101TZ2000PTC009588 |
ALLIANCE
CLOTHING PRIVATE LIMITED |
Director |
15/12/2000 |
15/12/2000 |
10/11/2006 |
Amalgamated |
NO |
|
2 |
U70200TZ2008PTC014492 |
MYNNA
HOLDINGS PRIVATE LIMITED |
Director |
22/05/2008 |
22/05/2008 |
- |
Active |
NO |
|
3 |
U70200TZ2008PTC014493 |
REDSAND
HOLDINGS PRIVATE LIMITED |
Director |
22/05/2008 |
22/05/2008 |
- |
Active |
NO |
|
4 |
U51491TZ2008PTC014921 |
EASTMAN
EXPORTS APPARELS INDUSTRIES PRIVATE LIMITED |
Director |
12/12/2008 |
12/12/2008 |
- |
Active |
NO |
|
5 |
U18101TZ2009PTC015352 |
EASTIN
APPAREL PRIVATE LIMITED |
Director |
20/07/2009 |
20/07/2009 |
- |
Active |
NO |
|
6 |
U70109TZ2009PTC015351 |
EASTMAN
HOLDINGS PRIVATE LIMITED |
Director |
20/07/2009 |
20/07/2009 |
- |
Active |
NO |
|
7 |
U18101TZ1998PTC008454 |
EASTMAN
GARMENTS PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
8 |
U15143TZ1984PTC001499 |
CHOLA
OIL REFINERIES PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
9 |
U74220TZ2006PTC012550 |
TEXTILE
TESTING LABORATORIES INDIA PRIVATE LIMITED |
Director |
23/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
10 |
U72200TZ2003PTC010712 |
EASTMAN
GRAPHICS AND DESIGN SOLUTIONS PRIVATE LIMITED |
Director |
27/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
11 |
U05110TZ1998PTC008644 |
EASTMAN
EXPORTS PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
12 |
U17121TZ1998PTC008645 |
EASTMAN
KNIT PROCESSING PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Amalgamated |
NO |
|
13 |
U18109TZ2003PTC010713 |
EASTMAN
DESIGN SOLUTIONS PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
14 |
U17219TZ1998PTC008455 |
EASTMAN
CLOTHING COMPANY PRIVATE LIMITED |
Director |
23/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
15 |
U18101TZ2004PTC011310 |
EASTWAY
HOME TEXTILES INTERNATIONAL PRIVATE LIMITED |
Director |
24/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
16 |
U01712TZ2004PTC011293 |
EASTCOAST
PROCESSING PRIVATE LIMITED |
Director |
20/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
17 |
U17121TZ1983PTC001368 |
INDIA
DYEING MILLS PRIVATE LIMITED |
Director |
22/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
18 |
U17115TZ1989PTC002424 |
EASTMAN
PROCESSING MILLS PRIVATE LIMITED |
Director |
27/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
19 |
U18101TZ2004PTC011298 |
EASTMAN
GLOBAL BRANDS INDIA PRIVATE LIMITED |
Director |
25/09/2010 |
18/03/2010 |
- |
Amalgamated |
NO |
|
20 |
U17111TZ1993PTC004551 |
EASTMAN
SPINNING MILLS PRIVATE LIMITED |
Director |
22/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
21 |
U18101TZ2003PTC010525 |
EASTMAN
EXPORTS GLOBAL CLOTHING PRIVATE LIMITED |
Director |
29/04/2010 |
18/03/2010 |
- |
Active |
NO |
|
22 |
U17121TZ1982PTC001162 |
INDIA
PROCESSING MILLS PRIVATE LIMITED |
Director |
18/03/2010 |
18/03/2010 |
- |
Active |
NO |
|
23 |
U17111TZ1987PTC002054 |
EASTMAN
TEXTILE MILLS PRIVATE LIMITED |
Director |
18/03/2010 |
18/03/2010 |
- |
Active |
NO |
|
24 |
U72200TZ1999PTC008916 |
EASTMAN
SOFTWARE SOLUTIONS PRIVATE LIMITED |
Director |
27/09/2010 |
18/03/2010 |
- |
Active |
NO |
|
25 |
U80302TZ2011PTC017211 |
EASTMAN
LEARNING SOLUTIONS PRIVATE LIMITED |
Director |
29/06/2011 |
29/06/2011 |
- |
Active |
NO |
|
26 |
U80302TZ2011PTC017210 |
EASTMAN
EDUCATION PRIVATE LIMITED |
Director |
29/06/2011 |
29/06/2011 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2011
|
Names of Shareholders |
No. of Shares |
|
Nachimuthu Chandran |
1167196 |
|
Chandran Nirmaladevi |
196 |
|
CIBI Chandran Karthic |
267476 |
|
TOTAL |
1434868 |
AS ON 23.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Knitted Garments, Men’s and Women’s wear. |
GENERAL INFORMATION
|
No. of Employees : |
2500 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
City Union Bank Limited, Tirupur Branch, 94,
Court Street, Tirupur-641601, Tamilnadu, India ·
Axis Bank Limited, Tirupur Branch, Court Road,
Opposite to Court, Tirupur-641601, Tamilnadu, India ·
State Bank Of India, Overseas Branch, Uthukuli Road,
Tirupur-641601, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R Ananthan Chartered Accountant |
|
Address : |
No. 12, |
|
Tel. No.: |
91-22-2201322 / 2242116 |
|
E-Mail : |
|
|
|
|
|
Enterprises over which Key Management Personnel
and relative of such personnel is able to exercise significant influence
Eastman Spinning : |
·
Mills Private Limited ·
India Dyeing Mills Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
TOTAL |
|
Rs. 155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1434870 |
Equity Shares |
Rs.100/-
each |
Rs. 143.487
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
143.487 |
109.993 |
109.993 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2444.703 |
1514.169 |
1201.894 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2588.190 |
1624.162 |
1311.887 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4016.097 |
2974.634 |
592.493 |
|
|
2] Unsecured Loans |
354.164 |
57.491 |
374.243 |
|
|
TOTAL BORROWING |
4370.261 |
3032.125 |
966.736 |
|
|
DEFERRED TAX LIABILITIES |
147.417 |
175.768 |
140.937 |
|
|
|
|
|
|
|
|
TOTAL |
7105.868 |
4832.055 |
2419.560 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3656.739 |
1910.307 |
1672.790 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
2.132 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.183 |
4.183 |
3.183 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1981.180
|
1536.401 |
1417.079
|
|
|
Sundry Debtors |
502.429
|
480.918 |
1542.617
|
|
|
Cash & Bank Balances |
242.508
|
226.761 |
148.636
|
|
|
Other Current Assets |
329.492
|
292.663 |
258.099
|
|
|
Loans & Advances |
930.758
|
1469.507 |
552.779
|
|
Total
Current Assets |
3986.367
|
4006.250 |
3919.210 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
379.823
|
857.926 |
792.182
|
|
|
Other Current Liabilities |
34.439
|
228.395 |
2331.545
|
|
|
Provisions |
127.159
|
2.364 |
54.028
|
|
Total
Current Liabilities |
541.421
|
1088.685 |
3177.755 |
|
|
Net Current Assets |
3444.946
|
2917.565 |
741.455
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7105.868 |
4832.055 |
2419.560 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9381.919 |
8863.386 |
7931.200 |
|
|
|
Other Income |
778.107 |
868.853 |
811.400 |
|
|
|
TOTAL (A) |
10160.026 |
9732.239 |
8742.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
8799.862 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
8799.862 |
8768.856 |
7882.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1360.164 |
963.383 |
860.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
463.265 |
342.575 |
237.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
896.899 |
620.808 |
623.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
485.060 |
212.772 |
194.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
411.839 |
408.036 |
428.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
54.282 |
95.761 |
87.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
357.557 |
312.275 |
341.100 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
35.756 |
0.000 |
0.000 |
|
|
|
Interim Dividend |
57.197 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
9.500 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
255.104 |
312.275 |
341.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
324.80 |
283.90 |
310.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.52
|
3.21 |
3.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.39
|
4.60 |
5.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.39
|
6.90 |
7.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.25 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95
|
2.64 |
3.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.36
|
3.68 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
TRANSFER TO
RESERVE
The Company has transferred Rs. 35.800 Millions to General Reserve
Account from the profits of the current year ended 31st March, 2011.
INDUSTRY OUTLOOK
The country has
emerged as an established sourcing target for the US and EU markets. This
coupled with the boom expected in the Indian retail market could provide a lot
of scope for the growth of the Industry. A substantial increase in the garment
export compared to the previous year is an indication of consistent growth in
the industry, especially in the knitwear segment. However, the appreciation of
the rupee has hurt competitiveness of garment exports which has also had a
cascading effect on the domestic yarn prices
REVIEW OF OPERATIONS AND FUTURE OUTLOOK
The cotton crop
during the year is expected to be good for the fourth successive year, subject to
a good monsoon. However, cotton prices have gone up substantially compared to
the previous year. The sharp appreciation in the Rupee against the Dollar
witnessed during the first quarter of this year and the hardening of interest
rates would also adversely affect the performance of the company.
FORM 8
|
Corporate
identity number of the company |
U18101TZ2003PTC010525 |
|
Name of the
company |
EASTMAN EXPORTS
GLOBAL CLOTHING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
10 12 Kumarnagar (South) 2nd Street, Tirupur, Coimbatore District – 641603, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10001545 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Axis Bank Limited, Tirupur Branch, Court Road, Opposite to Court, Tirupur-641601,
Tamilnadu, India |
|
Nature of
instrument creating charge |
1. Composite
Hypothecation Deed 2. Declaration
cum Deed of Confirmation for the Extension of Mortgage |
|
Date of
instrument Creating the charge |
15.11.2011 |
|
Amount secured by
the charge |
Rs. 715.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of repayment Payable On Demand Extent and operation of the charge The Charge Operates
As Continuing Security For The Due Repayment And Discharge By The Company Of
The Credit Facilities Secured Under The Charge |
|
Short particulars
of the property charged (Including location of the property) |
PRIMARY: First
charge on pari passu basis on the entire current assets of the Company with
other working capital lenders under the multiple banking arrangement COLLATERAL:
Second charge on pari passu basis on the entire fixed assets of the Company
including EM over factory lands and buildings (excluding fixed assets of wind
mill division) with other term lenders under the multiple banking
arrangement. |
|
Date of
instrument modifying the charge |
23.12.2010 |
|
Particulars of
the present modification |
Amount secured by
the charge is revised from Rs.536.744 Millions to Rs. 715.000 Millions
[comprising of Cash Credit Rs. 35.000 Millions, Export Packing Credit (EPC)
/ Preshipment Credit in Foreign
Currency (PCFC) / Foreign Bills Purchased / Discounted / Negotiated (FBP) / FBD
/ FBN ) Rs. 680.000 Millions] |
FIXED ASSETS
Ø
Land
Ø
Ø
Plant and Machinery
Ø
Electrical Fittings
Ø
Furniture and Fittings
Ø
Computers
Ø
Office Equipments
Ø
Vehicle
Ø
Goodwill
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. 55.69 |
|
|
1 |
Rs. 86.28 |
|
Euro |
1 |
Rs. 68.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--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 |
YES |
|
--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 |
|
51 |
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.