1. Summary Information
|
|
|
Country |
|
|
Company Name |
NUOVA SHOES |
Principal Name 1 |
Mr. Manjit Singh Alag |
|
Status |
Moderate |
Principal Name 2 |
Mr. Harsimran Singh Alag |
|
|
|
Registration # |
-- |
|
Street Address |
Khara No.432,
Mauza Gailana, Asopa Hospital Road, Agra-282007, |
||
|
Established Date |
March 2002 |
SIC Code |
-- |
|
Telephone# |
91-562-4028200 /
2602475 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-562-4028298 /
2602335 |
Business Style 2 |
Exporter |
|
Homepage |
Not Available |
Product Name 1 |
Shoes |
|
# of employees |
500
(Approximately) |
Product Name 2 |
Uppers |
|
Paid up capital |
Rs.127,181,000/- |
Product Name 3 |
-- |
|
Shareholders |
Not Available |
Banking |
Canara Bank |
|
Public Limited Corp. |
NO |
Business Period |
11 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B
(30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
290,468,000 |
Current Liabilities |
131,819,000 |
|
Fixed Assets |
80,421,000 |
Long-term Liabilities |
111,889,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
243,708,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
127,181,000 |
|
Total Assets |
370,889,000 |
Total Liab. & Equity |
370,889,000 |
|
Total Assets (Previous Year) |
410,408,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
565,875,000 |
Net Profit |
24,587,000 |
|
Sales(Previous yr) |
580,058,000 |
Net Profit(Prev.yr) |
22,835,000 |
MIRA INFORM REPORT
|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NUOVA SHOES |
|
|
|
|
Registered Office
: |
Khara No.432, Mauza Gailana, Asopa Hospital Road, Agra-282007, Uttar
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
March 2002 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 127.181 Millions |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Shoes and Uppers |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having moderate track
record. The concern has seen a dip in its sales volume due to economic slow
down in the European markets. The rating also take into consideration the firms moderate financial
risk profile and small scale of operations in the intensely competitive
footwear industry. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of promoters extensive experience and their established
relationship with their customer. The concern can be considered for business dealings with some caution.
Note: the partial information required for report preparation is taken
from indirect source i.e. crisil. |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
October 07, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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. Tyagi |
|
Designation : |
Account Department |
|
Contact No.: |
91-562-4028200 |
|
Date : |
19.12.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Khara No.432, Mauza Gailana, Asopa Hospital Road, Agra - 282007, Uttar
Pradesh, India |
|
Tel. No.: |
91-562-4028200 / 2602475 / 3290295 / 3290296 |
|
Fax No.: |
91-562-4028298 / 2602335 / 2602336 |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Manjit Singh Alag |
|
Designation : |
Partner |
|
Date of Birth/Age : |
67 Years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Harsimran Singh Alag |
|
Designation : |
Partner |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mrs. Renu Alag |
|
Designation : |
Partner |
|
Date of Birth/Age : |
64 Years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mrs. Amrita Alag |
|
Designation : |
Partner |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Ganiv Alag |
|
Designation : |
Partner |
|
Date of Birth/Age : |
13 Years |
KEY EXECUTIVES
|
Name : |
Mr. Tyagi |
|
Designation : |
Account Department |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Shoes and Uppers |
|
|
|
|
Exports : |
|
|
Products : |
Shoes and Uppers |
|
Countries : |
·
Italy ·
Germany ·
US |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Italy ·
China ·
Hong Kong ·
USA ·
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
Canara Bank, Overseas Bank, Agra, Uttar Pradesh, India |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Narang and Narang Associates Chartered Accountant |
CAPITAL STRUCTURE
AS ON 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs. 127.181 Millions (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs. 127.181 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
451.400 |
|
|
|
|
|
|
Profit (indirect Source) |
|
|
28.150 |
Expected Sales (2013-2014): Rs.450.000 Millions
The above information has been parted by Mr. Tyagi
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
127.181 |
91.938 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
127.181 |
91.938 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
111.889 |
125.704 |
|
|
2] Unsecured Loans |
|
|
|
|
|
TOTAL BORROWING |
|
111.889 |
125.704 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
239.070 |
217.642 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
80.421 |
82.274 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
290.468
|
328.134 |
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
290.468
|
328.134 |
|
|
|
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
131.819
|
192.766 |
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
131.819
|
192.766 |
|
|
Net Current Assets |
|
158.649
|
135.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
239.070 |
217.642 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
565.875 |
580.058 |
|
|
|
Duty Drawback on Exports |
|
46.550 |
47.714 |
|
|
|
Other Income |
|
25.460 |
14.362 |
|
|
|
Stock at Close |
|
161.015 |
178.447 |
|
|
|
TOTAL |
|
798.900 |
820.581 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Stocks at Commencement |
|
178.447 |
110.804 |
|
|
|
Purchases and Other Manufacturer Expenses |
|
491.898 |
575.905 |
|
|
|
Freight on Exports |
|
13.651 |
17.436 |
|
|
|
Staff cost |
|
18.252 |
17.741 |
|
|
|
Administrative, Selling and Other
Expenses |
|
31.947 |
36.882 |
|
|
|
Repairs and Maintenance and Replacements |
|
14.576 |
13.514 |
|
|
|
TOTAL |
|
748.771 |
772.282 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
50.129 |
48.299 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
14.952 |
14.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
35.177 |
33.430 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
10.590 |
10.595 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
24.587 |
22.835 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
3.08
|
2.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.34
|
3.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.63
|
5.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.19
|
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.88
|
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.20
|
1.70 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
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 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. 62.06 |
|
|
1 |
Rs. 102.03 |
|
Euro |
1 |
Rs. 85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.