MIRA
INFORM REPORT
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Report Date : |
13.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
JAISHREE
METAL PERFORATORS |
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Registered Office : |
Gat
No. 258, Jyotiba Nagar,Talwadi, Tal: Haveli, Pune-412114, |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1988 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
of Perforated Sheet & Wire Mesh. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 : |
USD20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow
but Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are reported as
slow but correct. The
concern can be considered as normal for business dealing at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Gat
No. 258, Jyotiba Nagar,Talwadi, Tal: Haveli, Pune-412114, India |
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Tel. No.: |
91-20-27690713
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Mobile No.: |
91-9422327944 |
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Fax No.: |
91-20-27691735 |
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E-Mail : |
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Website : |
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Area : |
5000
sq.ft. |
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Location : |
Owned |
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Branch1
: |
29,
Khadak Street, 3rd Floor, R.No. 35, Near Satkar Hotel, Masjid
Bunder Mumbai-400009, Maharashtra, India. |
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Tel.
No.: |
91-22-2345
5010, 2347 5163 |
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Fax
No.: |
91-22-23456352 |
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Factory1: |
Gat
No. 94, sonawane vasti, Jyotiba Nagar, Talawade, pune-412114, Maharashtra,
India |
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Factory2: |
S.No.
137, sinhagad road, Nanded phata, Pune, Maharashtra, India. |
SOLE PROPRIETOR
|
Name : |
Mr.
Raichand Jangid |
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Date of Birth/Age : |
32 yrs |
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Qualification : |
Inter |
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Experience : |
10 yrs |
KEY EXECUTIVES
|
Name
: |
Mr.
Prithviraj Jangid |
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Date
of Birth/Age : |
37 yrs |
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Qualification
: |
B.Com |
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Experience
: |
15 yrs |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Perforated Sheet & Wire Mesh. |
GENERAL
INFORMATION
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Customers : |
Others |
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No. of Employees : |
20 |
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Bankers : |
Citi
Bank NA, Pune |
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Facilities : |
The
concern does not enjoy any facility from it’s banker |
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Auditors : |
S.K.
Bajaj & Co. |
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Designation: |
Chartered
Accountants |
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Sister Concern: |
Jai
shree Filteration |
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Address: |
Mumbai |
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Line of Business: |
Trading
activities |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.
5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
20.000 |
10.000 |
Expected
Sales- 2006-07 Rs. 40.000 Millions.
LOCAL AGENCY
FURTHER INFORMATION
As
per Website:
Subject
is mainly engaged in the manufacturing of all types of round, square, oblong,
rectangular, dies. They are located at Mumbai, the financial capital of India.
Mr.
Raychan Jangid started this company in 1970 in Delhi. The Wire Mahesh plant was
set up initially in Delhi. In 1980 the company started its operation and the
plant was then set up in Bhayander. Later, in1997 the plant in Pune was setup.
The
promoters are manufacturing perforated sheets, Embossed plates, Embossed trays,
Dimple / De- stoners, Huller – Screens, Harringbon Screens, perforated test
Sieve, pulverizing Screen in Round, Square, Rectangular, Oblong, hex, &
Conical Holes, in Stainless Steel, Carbon Steel, M.S. / G.I., Aluminium, Brass,
Copper etc.
These
companies, are 100% privately owned companies with no attachments to any
industrial group. This ensures total quality management under the promoters’
control. With an inventory of raw material, they can deliver their products on
schedule ensuring that you do not have to keep any extra stock. At the same
time , they specialize in offering custome solution as per customer
specifications.
With
their commitment towards quality and timely on a regular basis, they have
developed long term business relations with their customers. They offer what
they promise, and promise only whate they can offer. For all stainless steel
wire requirements, just call “JSF”
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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. 44.90 |
|
UK
Pound |
1 |
Rs. 85.91 |
|
Euro |
1 |
Rs. 57.78 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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|
1~10 |
5 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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