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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GOODWIN GARMENT |
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Registered
Office : |
5, Akila Complex, Second Floor, Thiruvaiyaru, Tanjore – 613204 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
2005 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer, Exporter, Importer and Supplier of Knitted Garments,
Hosiery Garments, Mens Wears, Mens T-Shirts, Mens Polo T-Shirts, Track Suits,
etc. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
-- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 for small 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Lawrance |
|
Designation : |
Proprietor |
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Contact No.: |
91-9843921279 |
|
Date : |
24.03.2011 |
LOCATIONS
|
Registered Office : |
5, Akila Complex, Second Floor, Thiruvaiyaru, Tanjore – 613204. |
|
Mobile No.: |
91-9843921279 (Mr. G Peter Lawrance) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
AVP Layout, 4th street, Jeeva nagar, Gandhinagar post,
Tirupur – 641603. |
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Tel. No.: |
91-04214342279 |
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Mobile No.: |
91-09043183674 (Mr. S. Raja Gopalan) |
SOLE PROPRIETOR
|
Name : |
Mr. G Peter Lawrance |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Supplier of Knitted Garments,
Hosiery Garments, Mens Wears, Mens T-Shirts, Mens Polo T-Shirts, Track Suits,
etc. |
|
|
|
|
Brand Names : |
Manufacturers/Exporter of Garments ·
Knitted garments ·
T Shirts ·
Rugby polo t shirts ·
Boys t shirts ·
Bermudas ·
Skirts ·
Hosiery garments ·
Ladies t shirts ·
Kids rompers ·
Woven blouses ·
Mens wear ·
Track suits ·
Ladies tops ·
Leggings ·
Night wears ·
Pyjama sets ·
Maxi and long skirts ·
All types of blouses ·
Sweat shirts |
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Agencies Held : |
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Exports : |
Garments |
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Countries : |
·
USA ·
UK ·
Canada ·
France |
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Terms : |
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Selling : |
L/C, Credit (30 Days) |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Assorted readymade garments |
in pieces |
75000 per month |
50000 per month |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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|
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
ICICI Bank, Tirupur. |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
10.000 |
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The above information has been parted by Mr. G Lawrance.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
Profile :
This is a proprietorship firm started in the
year 2005. The proprietor is Mr. G Peter Lawrance. The firm in engaged in the
manufacture, export of Knitted garments, Hosiery garments, Mens wear, Mens T
shirt, Mens Polo T shirts, Track suits etc. Their range of products is made of
the finest quality fabric and their designs and vibrant colours are well known
in the US markets. The factory is situated in Tirupur while the Head office is
situated in Tanjore. They have different departments for purchase, production,
sampling, stitching, packing etc. Their have sampling departments is made up of
highly skilled professionals as pattern designer, sampling coordinators and
headed by efficient managers. They forecast the latest trends in creating their
own style and also creating styles as per the specification of the buyers. If
you order a sample with them the sample can be delivered in 20-25 days. Their
manufacturing department has a total of 30 performance machines including
Overlook, Flat look, Single needls etc. Their total production capacity is
around 35000 to 50000 pieces per month of fashion styles. Their goods are
appreciated for their comfort, high fashion appeal and shrink resistance.
Their main export markets are US, UK, Canada
and France. They employ about 30 40 people and their turnover is just under one
crore. Their bankers are ICICI bank at Tirupur. There is no way to assess the
financial strength of the firm. When we spoke to the proprietor he himself says
“we are a small firm exporting in small quantities say about 20 lakhs shipment
each and make about a crore in turnover per year.” Caution advised in all
financial dealings with them. They have registered themselves with Export India
at Delhi but found that was useless. Then they resorted to agents who helped
them in their exports. Now their mainstay is Brazil where the bulk of their
production is exported.
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. 51.15 |
|
|
1 |
Rs. 81.79 |
|
Euro |
1 |
Rs. 68.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
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--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 |
No |
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--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 |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
43 |
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.