|
Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAIDU HALL APPARELS |
|
|
|
|
Registered
Office : |
No.128 & 129, Choudhary Nagar, Behind Kesavardhini Hair Oil
Company, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2004 |
|
|
|
|
Capital
Investment |
Not Divulged |
|
|
|
|
TIN No.: |
33821522492 |
|
|
|
|
CST No.: |
820077/2004 |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Trader, Supplier of Textiles, Ready-Made both
Women, Men and Children. |
|
|
|
|
No. of Employees
: |
100 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Naidu Hall family store. It is a well established
proprietary concern having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitment. In view of reputed brand name and quality products, 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Kumar |
|
Designation : |
Office Staff |
|
Contact No.: |
91-960042151 |
|
Date : |
18.10.2013 |
LOCATIONS
|
Registered Office : |
No.128 & 129, Choudhary Nagar, Behind Kesavardhini Hair Oil
Company, 14th Street, Valasaravakkam, Chennai – 600087, Tamilnadu,
India |
|
Tel. No.: |
91-44-24865305/ 06 |
|
Mobile No.: |
91-960042151 (Mr. Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory : |
Located at ·
Ambur, Valasarawakkam, Chennai, |
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|
|
|
Branch Offices : |
T. Nagar H.O. No.56, Pondy Bazaar. T.Nagar, Chennai, Tel. No.: 91-44-44442151 / 28155696 Fax No.: 91-44-28155836 Anna Nagar C-57, 1st Main Road, Anna Nagar, Chennai – 600102,
Tamilnadu, India Tel. No.: 91-44-26263884 Velachery No.12-A, Tharamani Link Road, Velachery, Chennai – 600042, Tamilnadu, India
Tel. No.: 91-44-45052151 Tambaram 2/44, Shanmugam Road, West Tambaram, Chennai – 600045, Tamilnadu,
India Tel. No.:91-44-43159301 / 22262150 Valasaravakkam 11-A, Arcot Road, Lakshmi Nagar, Chennai – 600016, Tamilnadu, India Tel. No.:91-44-45072151 Mogappair No.12/563, Thiruvalluvar Salai, Mogappair (East), Chennai – 600037,
Tamilnadu, India Tel. No.:91-44-43550151 / 26561550 Madurai 11/6, Annasalai, 80 Feet Road, K.K. Nagar, Madurai – 625020,
Tamilnadu, India Tel. No.:91-0452-4392151 Trichy No.B-27, Shasthri Road, Thillai Nagar, Trichy – 620018, Tamilnadu,
India Tirupur 460, Permanullu Road, SRS Arcade, Tirupur – 641602, Tamilnadu, India Tel. No.: 91-421-4352151 Ambattur No.1, 1st Agraharam Street, Salem – 636001, Tamilnadu,
India Tel. No.: 91-427-2268131 Fax No.: 91-427-4050349 Coimbatore No.578, D.B. Road, R.S. Puram, Coimbatore – 641002, Tamilnadu, India Tel. No.: 91-422-2552151 / 4365215 Fax No.: 91-422-4369894 |
SOLE PROPRIETOR
|
Name : |
Ms. B Nandhitha |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Kumar |
|
Designation : |
Office Staff |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Trader, Supplier of Textiles, Ready-Made both
Women, Men and Children. |
|
|
|
|
Brand Names : |
· SHREYA NH INTIMACY ENHANCE |
|
|
|
|
Exports : |
|
|
Products : |
Ready-Made |
|
Countries : |
· China Korea
|
|
|
|
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Imports : |
|
|
Products : |
· Textiles Accessories Machinery
|
|
Countries : |
· China Korea
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
· HDFC Bank Limited ICICI
Bank Limited Indian
Bank |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
|
|
|
|
Parent Company : |
Naidu Hall Family Store Address: 56, Pondy Bazaar, T.Nagar, Chennai – 600017, Tamilnadu, India Tel. No.: 91-44-44442151 Email: ecommerce@naiduhall.co.in
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
-- |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
The above information has been parted by Mr. Kumar (Office Staff).
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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
one year |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
No |
|
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 |
PRESS RELEASE
GARMENT FACTORY GETS NOTICE FOR HIRING GIRLS WITHOUT FCS
The Department of Industrial Safety and Health has issued a show-cause notice to a manufacturing unit of Naidu Hall Apparels, located in Pallitheru, near Ambur, for employing adolescent girls without receiving fitness certificates (FCs).
As per the Tamil Nadu Factories Rules, the company should have obtained the fitness certificates of the adolescent girls (aged between 14-18 years), from the Department of Industrial Health and Safety.
Doctors would look into the nature of work and environment of the unit. A fitness certificate would be issued only if the work is light and involves minimal physical effort, said an official.
The Child Labour Abolition Support Scheme (CLASS) officials had also slapped a fine of Rs 0.020 Million on the unit for employing a child labourer, P Nagajothi (13), as helper and paying her Rs 1,800 per month. The management paid the penalty and submitted an affidavit assuring that it would not appoint child labourers in the future.
The series of violations came to light during a surprise check conducted by Tirupattur sub-collector Shilpa Prabakaran, following a direction from the NHRC on June 17.
The check was a fallout of a petition submitted by Adivasi Solidarity Council in March, on child labour and bonded labour systems prevailing in several parts of TN. Of the 380 girls working in the unit, officials found that 27 were adolescent.
NAIDU HALL FAMILY TO INVEST RS 30 CR IN RESTAURANTS BIZ
Chennai, December 27,
2012
Naidu Hall, one of the oldest family retail houses in Tamil Nadu, is planning to set up 10-12 restaurants in the next three years, with a total investment of around Rs 300.000 Millions.
Naihaa, the garments and fancy retail chain run by Aravind Ramaswamy, the grandson of MG Naidu who established Naidu Hall way back in 1930s, has floated a new company ‘Rama’s F&B Co’, whose first restaurant – Dario’s – has recently started its operations. The Italian restaurant was set up via the franchisee route, said K Suresh Cumar, chief executive officer, Rama’s F&B Co.
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.61.58 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.