MIRA INFORM REPORT

Report No. :	506287
Report Date :	28.04.2018

IDENTIFICATION DETAILS

Name :	LA NUEVA DISTRIBUIDORA DE TELAS SA DE CV
Registered Office :	Artículo 123 No. 37-C Col. Centro 06050 México, D.F.
Country :	México
Date of Incorporation :	1959
Legal Form :	Sociedad Anonima De Capital Variable
Line of Business :	Subject line of business includes the wholesale distribution of piece goods or yard goods of natural or manmade fibers.
No. of Employees :	100

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
México

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

MÉXICO - ECONOMIC OVERVIEW

Mexico's $2.4 trillion economy – 11th largest in the world - has become increasingly oriented toward manufacturing since the North American Free Trade Agreement (NAFTA) entered into force in 1994. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.

Mexico has become the US' second-largest export market and third-largest source of imports. In 2016, two-way trade in goods and services exceeded $579 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of its trade under free trade agreements. In 2012, Mexico formed the Pacific Alliance with Peru, Colombia, and Chile.

Mexico's current government, led by President Enrique PENA NIETO, has emphasized economic reforms, passing and implementing sweeping energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Since 2015, Mexico has held public auctions of oil and gas exploration and development rights and for long-term electric power generation contracts. Mexico has also issued permits for private sector import, distribution, and retail sales of refined petroleum products in an effort to attract private investment into the energy sector and boost production.

Since 2013, Mexico’s economic growth has averaged 2% annually, falling short of private-sector expectations that President PENA NIETO’s sweeping reforms would bolster economic prospects. Growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. In 2018, Mexico’s economy will be vulnerable to uncertainty surrounding the future of NAFTA—because the US is its top trading partner and the two countries share integrated supply chains—and to potential shifts in domestic policies following the inauguration of a new a president in December 2018.

Source : CIA

STATUTORY INFORMATION

Order:	MAZAHUA (The name given in the order is the company`s trade name).
Address in the order:	LA NUEVA DISTRIBUIDORA DE TELAS, SA DE CV ARTICULO 123 no 37 piso 5, Col. Centro Cp 06050, ciudad de Mexico Mexico, Tax ID or RFC - NDT8809014K6
Legal Name:	LA NUEVA DISTRIBUIDORA DE TELAS SA DE CV
Trade Names:	MAZAHUA
ID:	NDT8809014K6
Date Created:	1959
Date Incorporated:	1988
Legal Address:	Artículo 123 No. 37-C Col. Centro 06050 México, D.F., México.
Operative Address:	Artículo 123 No. 37-C Col. Centro 06050 México, D.F., México.
Telephone:	+52 55 5130 3260
Fax:	+52 55 5521 7981
Legal Form:	SOCIEDAD ANONIMA DE CAPITAL VARIABLE
Email:	admin@mazahua.com.mx
Registered in:	MEXICO
Website:	www.mazahua.mx/contacto
Contact:	Daniel Leipuner Fenig – Commercial Director
Staff:	100
Activity:	NAICS code 424310 - Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers
Banks:	The company does not disclose its banking details.
History:	La Nueva Distribuidora De Telas, S.A. De C.V. was founded in 1959.
PRINCIPAL ACTIVITY
The Company's line of business includes the wholesale distribution of piece goods or yard goods of natural or manmade fibers.
Products/Services description:	The company offers Silk fabrics, Wool and hair fabrics, Fabrics of wool and hair, according to use, Cotton fabrics for clothing and home linen, Cotton fabrics for decoration and upholstery, Linen fabrics, Tulles and veils and Knitwear.
Brands:	MAZAHUA
Sales are:	Wholesale
Clients:	Edificar Panama SA
Suppliers:	Rotatex SL Comersan S.A. PeÑa Mellado S A Pemesa D'dcor Home Fabrics Pvt., Ltd. Riflessi S.r.l Guangdong Jinlian Window Fashion Co., Ltd. Zhejiang Xidamen New Material Co., Ltd Hangzhou Zhongya Textile Co.,Ltd.
Operations area:	National and International
The company imports from	SPAIN INDIA ITALY CHINA
The company exports to	PANAMA
The subject employs	100 employees
Payments:	No Complaints
LOCATION
Headquarters :	Artículo 123 No. 37-C Col. Centro 06050 México, D.F.. México.
Comments on Address:	-
Branches:	SUCURSAL VENUSTIANO CARRANZA VENUSTIANO CARRANZA NO. 148 COL. CENTRO 06060 D.F DECORAMA AGUIAR Y SEIJAS NO. 35 LOMAS VIRREYES. DEL. MIGUEL HIDALGO 11000 MÉXICO D.F MANSIÓN TEXTIL AV. CONSTITUYENTES PONIENTE NO. 155 COL. CASABLANCA 76030 SANTIAGO DE QUERÉTARO, QRO. MÉXICO
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. The following information has been provided by private sources and could not be confirmed: The major holder of this company is: Aarón JBer
Management:	Daniel Leipuner Fenig – Commercial Director
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
ANNUAL IMPORTS CIF USD
2017	2.456.097
2016	3.546.757
2015	4.248.909
ANNUAL EXPORTS FOB USD
2016	50.868
LEGAL FILINGS
CASES	No found.
SUMMARY
Founded in 1959, La Nueva Distribuidora de Telas SA de CV is an organization in the Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers Industry headquartered in México D.F., Mexico. The company has 100 regular employees. It operates nationally and internationally, mainly exporting to Panama. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Juan
POSITION	Sales
COMMENTS	He confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the approximate number of employees and the Contact Name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.78
UK Pound	1	INR 92.89
Euro	1	INR 80.74
MXN	1	INR 3.58

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.