MIRA
INFORM REPORT
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Report Date : |
21.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
GEISSEL -
JAKAP PRIVATE LIMITED |
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Registered Office : |
C-7, M.P. Shah Municipal Udyog Nagar, Saru Section, Road 8,
Jamnagar, Gujarat -361 002 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
28.07.1994 |
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Com. Reg. No.: |
04-22627 |
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CIN No.: [Company
Identification No.] |
U21200GJ1994PTC022627 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTG00190B |
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PAN No.: [Permanent
Account No.] |
AAACG7841G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of
Precision Brass Components, Lamp Parts and Turned Components. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
25000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track records. Trade
relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
C-7, M.P. Shah Municipal Udyog Nagar, Saru Section, Road 8,
Jamnagar, Gujarat -361 002, India |
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E-Mail : |
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Website : |
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Factory & Office : |
Gat No. 1102, Mutha Road, Pirangut,
Taluka Mulshi, District, Pune-411 004, Maharashtra, India |
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Tel.
No.: |
91-20-2292 2125, 2292 2545 |
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Fax
No.: |
91-20-2292 2480 |
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E-Mail
: |
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Website : |
DIRECTORS
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Name : |
Mr. Jayesh Jayantilal Anjaria |
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Designation : |
Chairman & Managing Director |
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Address : |
“Paloma”, 2, Swastik Society, Jamnagar, Gujarat |
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Date of Birth/Age : |
13/05/1955 |
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Date of Appointment : |
28/07/1994 |
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Name : |
Mr. Nandita Jayesh Anjaria |
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Designation : |
Director |
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Address : |
“Paloma”, 2, Swastik Society, Jamnagar, Gujarat |
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Date of Birth/Age : |
20/12/1959 |
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Date of Appointment : |
28/07/1994 |
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Name : |
Mr. Seidel Peter (Foreigner) |
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Designation : |
Director |
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Address : |
Bruhcstrasse, 28,7130, Muhlacker, West Germany |
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Date of Appointment : |
28/07/1994 |
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Name : |
Mrs. Claudia Seidel (Foreigner) |
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Designation : |
Director |
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Address : |
Bruhcstrasse, 28,7130, Muhlacker, West Germany |
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Date of Birth/Age : |
22/11/1946 |
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Date of Appointment : |
28/07/1994 |
KEY EXECUTIVES
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Name
: |
Kanj & Associates |
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Designation
: |
Company Secretary |
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Address
: |
3-4, Aishwarya Sankul, S. No. 17, G.A. Kulkarni Path, Opposite
Railway Museum, Kothrud, Pune-411 038 |
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Tel
No. : |
91-20-66204591, 66296055, 25461561, 25466265 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Jakap Metind Private Limited M.P. Shah Municipal, Udyog Nagar, Jamnagar, Gujarat-361002 |
135,000 |
50.00 |
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Mr. Geissel Wilhelm M.P. Shah Municipal, Udyog Nagar, Jamnagar, Gujarat-361002 |
135,000 |
50.00 |
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Total |
270,000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of
Precision Brass Components, Lamp Parts and Turned Components. |
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Products : |
v Brass Electrical Wiring
Accessories o
Cable
Glands o
Conduit
Glands o
Accessories v Precision Brass Components v Quick Connect Couplings v Tube and Pipe Brass
Fittings v Compression Fittings v Lamp Parts |
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Export to : |
Europe |
GENERAL
INFORMATION
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Suppliers : |
v
Airgrip Exports v
Airgrip International v
Air Master Auto Industries v
Allo Brass Industries v
Ace Enterprises v
Batna Auto Cars Private Limited v
Balaji Enterprises v
Bodyline Design v
Bharat Industries v
Collates & Tools Manufacturing Company v
Dolphin Float Private Limited v
Enkay Electronics v
G S Enterprises v
Gurukripa Engineering Works v
Hemo Enterprises v
Heat Bras / Fabs v
Jakap International v
Indoswe Engineers Limited v
Kalra Tools v
Kudale Caliberation Private Limited v
Maharao Enterprises v
Manu metal Products v
Mayank Metallurgical Private Limited v
New Patel Foundry Works v
Paras Machinery Stores v
Perfect Profile Centre v
Pragati Pressings v
Raga Industries v
Regal Hardware v
Senor Metals Private Limited v
Super Automats v
Suap Polymers v
Size Master Gauges & Tools v
Sai Springs v
Shree Chintamani Industries v
Sujata Brass Industries v
Seagull Engineers v
Susheel Box Manufacturers v
Surekha Enterprises v
S K Industries v
Universal Systems v
KBC Enterprises |
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Trade
Reference / Customers
: |
v
Exotech Plastics Private Limited v
N Nillunger & Company Private Limited v
Ingersoll Rand (India) Private Limited v
Invensys Metering Systems India Limited v
Jakap Metind Private Limited v
Ballic Key West Inc. v
Festo Control Private Limited v
Flexo GmbH & Company, KG v
Jakap LLC v
Roxton Limited v
Premier Hydraulics v
Seated Units Parts Company Inc. v
Supra Décolletage v
The Fountainhead Group v
Wilhelm Geissel Kg v
Universal Brass Turning Company Inc. v
Motor Industries Company Limited v
Super Core Industries v
Raxton Limited v
Jakap LLC v
Universal Brass Turning Company Inc. v
Baltic Key West, Inc. |
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Bankers : |
v
ICICI Bank Limited v
State Bank of India (A/c No. 01650079107), Pune v
State Bank of India, Jamnagar v
HDFC Bank Limited |
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Facilities : |
Subject is enjoying Cash Credit facilities from State Bank of
India. It is secured against
Hypothecation of Stocks & Book debts. |
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Banking Relations : |
Satisfactory
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Auditors : |
Sarda & Sarda Chartered
Accountants (Mr D H Vadodaria, M. No. 30145) “Sarda House”, Bedi
Bunder Road, Opposite Panchavati Society, Jamnagar-361 002 |
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Tel. No.: |
91-288-275 1035,
275 2035, 275 2411, |
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Fax No.: |
91-288-275 3769 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
270,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
2.700 |
2.700 |
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2] Share Application Money |
|
2.400 |
0.000 |
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3] Reserves & Surplus |
|
0.918 |
0.358 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
6.018 |
3.058 |
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LOAN FUNDS |
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1] Secured Loans |
|
6.822 |
5.332 |
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2] Unsecured Loans |
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3.159 |
3.643 |
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TOTAL BORROWING |
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9.981 |
8.975 |
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DEFERRED TAX LIABILITIES |
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3.167 |
4.154 |
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TOTAL |
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19.166 |
16.187 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.428 |
8.575 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
1.133 |
1.788 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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10.660 |
6.297 |
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Sundry Debtors |
|
13.806 |
7.127 |
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Cash & Bank Balances |
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0.245 |
0.389 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
3.630 |
6.322 |
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Total Current Assets |
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28.341 |
20.135 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.736 |
14.313 |
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Provisions |
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-- |
-- |
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Total Current Liabilities |
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19.736 |
14.313 |
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Net Current Assets |
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8.605 |
5.822 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.002 |
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TOTAL |
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19.166 |
16.187 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
78.433 |
53.670 |
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Profit/(Loss)
Before Tax |
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1.335 |
1.673 |
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Provision
for Taxation |
|
0.744 |
0.622 |
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Profit/(Loss)
After Tax |
|
0.561 |
1.054 |
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Export
Value |
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71.391 |
45.185 |
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Total
Expenditure |
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75.109 |
50.306 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
|
0.72 |
1.96 |
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Net Profit Margin |
|
1.74 |
3.53 |
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Return on Total Assets |
|
1.44 |
3.45 |
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Return on Investment (ROI)
|
|
9.32 |
34.37 |
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Current Ratio |
|
1.44 |
1.41 |
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Quick Ratio |
|
0.90 |
0.97 |
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Debt Equity Ratio |
|
1.66 |
2.93 |
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Current Liabilities/Networth |
|
3.28 |
4.68 |
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Fixed Asset / Networth |
|
1.57 |
2.80 |
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Average Collection Days |
|
65.82 |
54.89 |
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Account Receivables Turnover |
|
5.55 |
6.65 |
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Inventory Turnover |
|
7.18 |
7.53 |
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Asset Turnover |
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8.12 |
5.53 |
LOCAL AGENCY
FURTHER INFORMATION
Subject does not import and purchases raw materials and Brass
Parts, Steel Parts from the domestic market.
Subject exports its products to Europe and supplies in the
domestic market.
Geissel Jakap Private
Limited An ISO 9001-9002 certified company was formed as a joint venture
company between WIlhelm Geissel KG Germany and Jakap Metind Private Limited,
India.
This joint venture was started
with a vision to use Indian skills and German technology, with a view to
produce quality products in India for the world market
They at Geissel Jakap have
successfully made roads into the European market, supplying quality products to
their customers to their fullest satisfaction.
Their company’s philosophy of offering complete customer satisfaction is
clearly stated in their policy as follows:
“Continuous improvement in Quality, Service
and timely deliveries to exceed customer Satisfaction”
“Planned and Efficient Utilisation of
technology, Human and material resources.”
“Devotion, involvement, dedication and co-operation
of all people at every stage.”
“Training to employees to improve their
skills and knowledge “
With this in mind, they have developed an extremely flexible factory organisation to enable the company to react in meeting the immediate customer requirements. Their highly qualified employees enjoy a great team spirit and excellent internal communication, which means that ‘GEISSEL JAKAP’ is well armed to meet the future challenges arising from the market and from technological developments.
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.44.99 |
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UK
Pound |
1 |
Rs.85.34 |
|
Euro |
1 |
Rs.57.63 |
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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--BUSINESS SCALE |
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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--CREDIT LINES |
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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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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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