MIRA INFORM REPORT
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Report No. : |
341758 |
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Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
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Name : |
VIROLA INTERNATIONAL |
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Registered
Office : |
21/68, Ground Floor, Freeganj, Agra-282004, Uttar Pradesh |
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Tel. No.: |
91-562-4025500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Year of
Establishment : |
1990 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
Not Available |
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TIN No.: |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturer, Exporter and Importer of Textile, Garment, Fashion
Accessories and Footwear. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was set up as partnership firm in 1990 by Mr. S. K. Sachdeva
and his family to manufacture and export leather footwear. Mr. Ajay Kumar (Export Manager) has provided us with general
information but denied to disclose the financial details As per provisional financial obtained from indirect sources, the
concern has reported profit after tax of Rs.177.000 Million on net sales of
Rs.1800.000 for the FY2013-14. Latest financial for the year 2014-2015 could
not made available. Trade relations are reported as fair. Business is active. Payment
terms are unknown. The concern can be considered for the business dealings with some
caution. Note: Partial information are gathered 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating BBB- |
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Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
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Date |
01.10.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating A3 |
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Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
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Date |
01.10.2014 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Ajay Kumar |
|
Designation : |
Export Manager |
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Contact No.: |
91-9837009196 |
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Date : |
16.09.2015 |
LOCATIONS
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Registered Office : |
21/68, Ground Floor, Freeganj, Agra-282004, Uttar Pradesh, India |
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Tel. No.: |
91-562-4025500 |
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Mobile No.: |
91-9837009196 (Mr. Ajay) |
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Fax No.: |
91-562-2621153 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office/ Factory : |
17/ 4, A – 6, Runkuta, |
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Tel. No.: |
91-562-642180/ 3091172,3091166 |
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Fax No.: |
91-562-361291/ 2621153 |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. Sushil Sachdev |
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Designation : |
Partner |
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Name : |
Mr. Sandeep Sachdev |
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Designation : |
Partner |
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Name : |
Mr. Vinay Sachdev |
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Designation : |
Partner |
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Name : |
Mrs. Smita Sachdev |
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Designation : |
Partner |
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Name : |
Mrs. Madhu Grover |
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Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Kumar |
|
Designation : |
Export Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Textile, Garment, Fashion
Accessories and Footwear. |
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Products : |
Not Available |
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Brand Names : |
--- |
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Agencies Held : |
--- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C, Credit |
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Purchasing : |
Cash, L/C, Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
Not Divulged |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rllan and Company Chartered Accountants |
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Address : |
Uttar Pradesh, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
|
Particulars |
|
31.03.2014 |
31.03.2013 |
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Sales Turnover [Approximately] |
|
1800.000 |
1700.000 |
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Profit/Loss for the year |
|
177.000 |
181.000 |
Note : Partial
information are gathered from indirect source i.e. CRISIL.
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1700.000 |
1800.000 |
|
|
|
5.882 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1700.000 |
1800.000 |
|
Profit |
181.000 |
177.000 |
|
|
10.65% |
9.83% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
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.66.50 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
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Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.