MIRA
INFORM REPORT
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Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
KJK POLYDIAMONDS INTERNATIONAL PRIVATE
LIMITED |
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Registered Office : |
2D
Eldorado 2nd Floor, 112, Nungambakkam, high Road, Chennai –
600034, Tamil Nadu, India |
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Country : |
India |
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Financials (as on) : |
---- |
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Date of Incorporation : |
18.08.2005 |
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Com. Reg. No.: |
18-57219 |
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CIN No.: [Company
Identification No.] |
U28939TN2005PTC057219 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEK07874G |
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PAN No.: [Permanent
Account No.] |
AACCK6327P |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject
is engaged in the business of manufacture, buy, sell, import, export,
Industrial precision cutting, PCS/PCBN and carbide tools, inserts, reamers,
drills, honing and other similar cutting tools and products. |
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
50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and took over the running business of the erstwhile
partnership concern. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
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 : |
2D
Eldorado 2nd Floor, 112, Nungambakkam, high Road, Chennai –
600034, Tamil Nadu, India |
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Tel. No.: |
91-44-28253337/28206845/28206085 |
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Fax No.: |
91-44-282725687/28241411 |
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E-Mail : |
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Website : |
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Factory 1 : |
133 Old Mahabalipuram Road, Kandanchavadi, Chennai - 600096 |
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Branches : |
Ø Delhi Ø Gaziabad Ø Noida Ø Jaipur Ø Ahmedabad Ø Aurangabad Ø Mumbai Ø Calcutta Ø Coimbatore Ø Indore Ø Jamshedpur Ø Hosur Ø Bangloare Ø Hyderabad Ø Pune |
DIRECTORS
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Name : |
Mr K J
Kumar |
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Designation : |
Director |
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Name : |
Mr K J
Hiro Kumar |
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Designation : |
Director |
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Name : |
Mr K J
Sudar Kumar |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr K J Kumar |
3300 |
33.00 |
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Mr K J Sudar Kumar |
3400 |
34.00 |
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Mr K J Hiro Kumar |
3300 |
33.00 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in the business of manufacture buy, sell, import, export,
Industrial precision cutting, PCS/PCBN and carbide tools, inserts, reamers,
drills, honing and other similar cutting tools and products. |
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Products : |
Ø Reamers Ø Insert Tools Ø
Shank Tools Ø
Cartridges Ø
Holders |
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Imports from : |
Subject imports machine cutting tools
from USA, Germany, Japan, Korea and UK |
GENERAL
INFORMATION
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No. of Employees : |
Total 43 : In office 13 + in factory 30 |
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Bankers : |
State Bank of India, Chennai |
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Banking Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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500,000 |
Equity
Shares |
Rs 10/- each |
Rs 5.000 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10,000 |
Equity
Shares |
Rs 10/- each |
Rs 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
Not available as a new company.
We give herebelow financials of erstwhile partnership concern:
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31.03.2005 |
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Capital Investment |
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100.000 |
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Sales Turnover |
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150.000 |
LOCAL AGENCY
FURTHER INFORMATION
KJK Polydiamonds is a company from the ‘House of Kumars' with a
vibrant environment and a wealth of professional human, plays an important role
as a global knowledge based organization, recognized in many countries for its
innovative capabilities and technologies. It offers many compelling advantages,
including its highly skilled work force, production, R&D facilities, high
standard of tooling and proximity to leaders in technology makes as a prime
partner for its clients worldwide
Company is right now engaged in the import of various type of tools for the Indian market. Company is very very optimistic about the future. Company has got partners in USA, Japan and Germany. Company is an associate of a German company whose products, company sells in India.
Company is trying to get association with a Korean company. The idea is for the mutual benefit of the company and the foreign partner. Company feels that others will benefit more from India and Indians will from foreign participation in the near future. Company welcomes all types of queries for the expansion of the company.
Company is a member of the KJP group of companies actively involved in supplying advance technology products for the automobile, aerospace, electronics and machine tools manufacturing. Company is actively pursuing globalization in partnership with reliable companies around the world to cope up effectively with the many changes in the industry.
The international connections of the Company has helped to secured a great number of valuable customers around the world and to obtain a reputation as a reliable supplier of quality PCD and PCBN tools. International exchange in the cutting tools industry is gaining more speed with the discovery of new technique. Company is playing an active role in promoting international co-operation in the industry.
Since 1982, Company has been actively involved in manufacturing poly crystalline diamond and poly crystalline boron nitride cutting tools for machining operation in automobiles, aviation, electronics and mechanical engineering sectors.
The company’s aim is to remain as one of the world class leaders in PCD and PCBN tool manufacturing and total tooling solutions provider with quality assurance and reliable on the dot delivery, to their customers around the world.
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.44.12 |
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UK
Pound |
1 |
Rs.87.01 |
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Euro |
1 |
Rs.57.45 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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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