MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
JAI AUTO ENGINEERING |
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Registered Office : |
Plot No. 429, GIDC, Near Bhishuk Gruh, Odhav, Ahmedabad – 382 415,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1975 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners |
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Line of Business : |
Manufacturer and exporter of auto Sleeves, C I Casting, all types of
tractor parts and Auto Parts, Auto Sleeves Cylinder Liners, CI Casting for
Cylinder Liner, Auto Parts, Tractor Engine Parts, Cylinder Liners for
Tractors, Automobile Cylinder Liners, Auto Sleeves, Cylinder Liners, Indian
Cylinder Liners, Industrial Cylinders, Automotive Parts, Automotive Spares,
Automotive Components, Cylinder Liners. |
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 4000 |
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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 an established concern with a steady business. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 429, GIDC, Near Bhishuk Gruh, Odhav, Ahmedabad – 382 415,
Gujarat |
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Tel. No.: |
91-79-22875561 / 22875461 |
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Mobile No.: |
91-9426057812 |
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Fax No.: |
91-79-22970061 |
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E-Mail : |
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Website : |
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Area : |
6000000 sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Dilip Shah |
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Designation : |
Partner |
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Address : |
48 years |
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Date of Birth/Age : |
Graduate |
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Name : |
Mr. Darshan Dilipbhai Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
19 years |
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Qualification: |
Engineering |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of auto Sleeves, C I Casting, all types of tractor
parts and Auto Parts, Auto Sleeves Cylinder Liners, CI Casting for Cylinder
Liner, Auto Parts, Tractor Engine Parts, Cylinder Liners for Tractors,
Automobile Cylinder Liners, Auto Sleeves, Cylinder Liners, Indian Cylinder
Liners, Industrial Cylinders, Automotive Parts, Automotive Spares, Automotive
Components, Cylinder Liners. |
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Exports : |
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Products : |
All products |
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Countries : |
Aman, South Africa, UK, US, Europe |
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Terms : |
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Selling : |
L/C, Cash, Credit (90 Days) |
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Purchasing : |
Cash, Credit (45 Days) |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
40 |
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Bankers : |
State Bank of India Address: GIDC, Odhav Branch |
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Facilities : |
C/C – RS. 1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Parin and Shah Chartered Accountants |
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Address : |
Ahmedabad |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
---- |
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Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5.400 |
5.000 |
Expected Sales (2007-08): Rs. 9.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· AVM Automobiles, New Delhi
· Machine Tools, Kolhapur
WEBSITE DETAILS:
The concern has been churning out Automobile Cylinder Liner,sleeves,piston liner and C.I. Casting and all types of cyliner liners since year 1975. Which have manufacturing facilities at Odhav, Ahmedabad (Gujarat-India) and their products are well accepted in the market.
The dynamic and experienced entrepreneur Mr. Dilip Shah display acumen, exuberance and professionalism. Their in-depth knowledge, far sighted business policies, has strategically positioned the concern as one of the best leading manufacturer of cylinder liners.
Driven by innovation and passion to excel, the concern provides the most exotic and aesthetic range of cylinder liners which is the formidable choice in the automobile sector and customers due to the distinctive product range that comes with irreplaceable quality of international repute. Highly acclaimed for quality, their products are popular in India and overseas.
At The concern modernization plays a pivotal role they embrace technological
developments; changes are made in the technology and processes to meet the
constantly changing requirements of clients. Their sophisticated manufacturing
facility comprises of highly advanced technology and experienced
workforce.
As a result of their undeviating commitment to quality The concern has created an enviable position in the industry and has been regular supplier to some of the most prestigious projects.
MD's Desk
His vision for the future includes establishing JAI AUTO as one of the best manufacturers of cylinder liners. His vision is evident from the active role he played in establishing development in Indian markets to provide high-end quality solutions to major and global corporate clients.
Development, manufacturing and marketing of quality has remain their core activity.
They have been constantly working to retain competitive edge in cost and
quality of their products.
Their real strength and asset are the skilled employees working with
them.
Vision
To become the most best provider of all types of cyliner liners for automobile sectors. To bring a smile of satisfaction to all the customers.
Philosophy
Jai Auto's widespread know-how in cylinder liners and application, and their selection of far above the ground excellence effort has enabled them to turn out to be the market's one-stop management and cylinder liners solutions provider.
They build up groundbreaking product solutions that help their clients to optimize and administer the correct resolution policy for automobile progress with professional and economic range.
Developments:
Research of new cylinder liners and development of new products related to automobiles techniques is the fundamental part of Jai Auto's activity. The company is engaged in continuous research and experiment on other type of liners to obtain productive results with improved characteristics, which once perfected, replace the existing product.
The advance drive and more efficient technology together results in lower energy consumption and reduced process time. With constant innovation, it is creating its own benchmarks.
The concern - The Quality Automobile Piston Liners, Sleeves and Parts Manufacturer - is located at G.I.D.C., Odhav, and Ahmedabad. The Plant is situated on 11000 Square Feet building fully equipped with State-of-the-art machinery and testing instruments. The office is having the most modern communication tools like - EPABX, FAX, INTERENET to offer prompt response to customers and associates
They are bound by their commitments to meet or exceed their customers' expectations regarding Quality of Product and Service, Lead Time / on - time Delivery, Long Term Relationships and Continuous Improvement. To meet these goals they work is tandem with the technical personnel, keeping in mind all specifications, applications and problems.
Products:
They always use raw -materials with specified grade like with Molly, Nickel, Chromium, Silicon, Carbon, Phosphorous.
They have latest machine and quality Technical person with a lot of experience. They are testing and checking their product each and every stage for Carbon, Silicon, Manganese, chromium , Nickel , Molybdenum, Sulfur , Phosphorous and Hardness.
The concern manufacturing the quality Automobile Cylinder Liner, Sleeves, Piston,
liner, and C.I. Casting.
Exports:
Exports inquires are generated from various parts of the world for supply of different types and wide range of Automobile Cylinder Liner,sleeves,piston liner and C.I. Casting made out of exclusively products range. Presently the global market situation is being assessed and the strategy is reorganized to suite the demands of the global requirement.
Managements:
Managing with professionalism has always been the hallmark of the Company. They have a reputation for having a fiercely talented, performance oriented employees with highest levels of integrity and professionalism. It is the mainstay of all its endeavors and the cornerstone of its corporate culture. Excellent teamwork and effective co-ordination among the various agencies involved give an edge over their competitors. Extensive planning using the latest management techniques enables them to exercise direct control over their operations and schedules.
The concern greatest asset is its unrivaled range of professionally qualified and experienced personnel. In order to serve their clientele better, they continuously invest in new technologies and training to develop and enhance the capabilities and competence of their employees. The Company offers performance-based incentive to honor outstanding work. They conduct periodic group discussion among employees and management. Enhancing technical expertise of employees and inculcating managerial skills are an integral part of their employee empowerment program.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.43 |
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UK Pound |
1 |
Rs.81.35 |
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Euro |
1 |
Rs.57.83 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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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 |
NO |
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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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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