MIRA
INFORM REPORT
|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOMAL FASHION (S P GROUP OF COMPANIES) |
|
|
|
|
Registered
Office : |
310/1/90, Memco Compound, Near Meera Industries Memko, Opposite Gopi Laser
Cinema, |
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
March 2011 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 4.030 Millions |
|
|
|
|
Tin No.: |
24072503710 |
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|
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CST No.: |
24572503710 |
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IEC No.: |
0811017354 |
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PAN No.: [Permanent Account No.] |
AKDPA0128H |
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|
Legal Form : |
Sole Proprietory Concern |
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|
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Line of Business
: |
Manufacturer, Exporter and Trader of All Types of Garments and Row
Cotton. |
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|
|
No. of Employees
: |
20 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 16000 |
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|
Status : |
New Concern |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an relatively new proprietory concern establishing itself
gradually. The concern has achieved a sizeable turnover in its first year of
operations. Trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The concern can be considered for business dealings with some
cautions. |
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) |
|
|
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. Paresh Amin [Brother of Proprietor] |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9879742377 |
|
Date : |
16.07.2012 |
LOCATIONS
|
Registered Office/ Factory : |
310/1/90, Memco Compound, Near Meera Industries Memko, Opposite Gopi Laser
Cinema, Naroda Road, Ahmedabad-382345, Gujarat, India |
|
Tel. No.: |
91-79-22803090 |
|
Mobile No.: |
91-9879742377 [Mr. Paresh Amin] |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
400 Vaar Sq. Ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Gauravkumar Patel |
|
Designation : |
Proprietor |
|
Address : |
A-3, Pushpak Apartment, Opposite Pooja Apartment, Mahavir Nagar,
Hirawadi, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
BA |
|
Experience : |
5 Years |
KEY EXECUTIVES
|
Name : |
Mr. Paresh Amin |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of All Types of Garments and Row
Cotton. |
|
|
|
|
Exports : |
|
|
Products : |
Garments and Row Cotton |
|
Countries : |
·
Pakistan |
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|
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Terms : |
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Selling : |
L/C and Cash |
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|
|
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Purchasing : |
L/C and Cash |
GENERAL INFORMATION
|
Customers : |
Others [Corporate] |
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No. of Employees : |
20 [Approximately] |
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|
|
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Bankers : |
Corporation Bank, Naranpura, Ahmedabad, Gujarat, India |
|
|
|
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Facilities : |
Cash Credit Rs.2.400 Millions |
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|
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
V.V. Patel and Company Chartered Accountants |
|
Address : |
101, First Floor, Shanti Arcade, Near Akash-III, 132, Feet Ring Road,
Naranpura, Ahmedabad, Gujarat, India |
|
Mobile No.: |
91-9825061196 |
|
|
|
|
Associates/Subsidiaries : |
·
S.P. Knit Industries Address: 310/2/90, Memco
Compound, Near Meera Industries Memko, Opposite Gopi Laser Cinema, Naroda
Road, Ahmedabad-382345, Gujarat, India |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs. 4.030 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 4.030 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
|
4.030 |
|
|
2] Share Application Money |
|
|
0.000 |
|
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3] Reserves & Surplus |
|
|
0.147 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
4.177 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.301 |
|
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2] Unsecured Loans |
|
|
0.087 |
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TOTAL BORROWING |
|
|
2.388 |
|
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
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|
|
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TOTAL |
|
|
6.565 |
|
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
|
0.504 |
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Capital work-in-progress |
|
|
0.000 |
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|
|
|
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INVESTMENT |
|
|
0.020 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
|
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6.823 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
|
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6.823 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
|
|
|
|
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Other Current Liabilities |
|
|
0.782 |
|
|
Provisions |
|
|
|
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Total
Current Liabilities |
|
|
0.782 |
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|
Net Current Assets |
|
|
6.041 |
|
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|
|
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
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|
|
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TOTAL |
|
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6.565 |
|
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
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SALES TURNOVER |
|
|
8.377 |
The above information has been parted by Mr. Paresh Amin.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.76 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
8.73 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for one year |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
No |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
No |
TRADE REFERENCES:
·
Reliance Trends
·
Arvind Brands
·
Max Lifestyle, Bangalore
·
Texpert India Private
Limited
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.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.