MIRA INFORM REPORT
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Report Date : |
04.01.2007 |
IDENTIFICATION DETAILS
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Name : |
J
POONAMCHAND AND SONS |
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Registered Office : |
22/24,
Kakdwadi, Sathe Building, Ground Floor, Opp. Arya Samaj, V. P. Road, Mumbai
400004, Maharastra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1965 |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partners. |
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Line of Business : |
Importers
and Suppliers of Ferrous and Non Ferrous Metals. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject
is an old trading concern. It is engaged in import and supply of ferrous and
non-ferrous metals. Their
payments are reported as slow and delayed by average 30 days. The
concern can be considered for small to mediocre business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
22/24,
Kakdwadi, Sathe Building, Ground Floor, Opp. Arya Samaj, V. P. Road, Mumbai
400004, Maharastra, India |
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Tel. No.: |
91-22-23840063/23822009 |
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Fax No.: |
91-22-23861086 |
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E-Mail : |
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Website : |
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Area : |
500
Sq.ft. |
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Location : |
Rented |
PARTNERS
|
Name : |
Mr.
Kumar Jain |
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Designation : |
Partner
and Chief Executive Officer |
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Date of Birth/Age : |
35
Years |
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Qualification : |
B.Com |
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Experience : |
15
Years |
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Name : |
Mr.
Poonam Chand Jain |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Importer
and Supplier of Ferrous and Non Ferrous Metals. |
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Imports from : |
UK,
China, Singapore and USA |
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Terms : |
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Selling : |
-- |
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Purchasing : |
Credit
and D/P |
GENERAL INFORMATION
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No. of Employees : |
4 |
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Bankers : |
State
Bank of India, Opera House, Mumbai 400004, Maharastra, India |
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Facilities : |
-- |
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Banking Relations : |
Unknown |
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Associates/Subsidiaries
: |
Name
of the Company: N. K. Jain And Company Line
of Business: Importer and Suppliers of Ferrous and Non Ferrous Metals. |
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Membership: |
Ø
Bombay Metal Exchange
Limited Ø
Metal Finishers
Association of India |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Rs.
3.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.
3.500 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
130.000 |
120.000 |
110.000 |
LOCAL AGENCY FURTHER INFORMATION
The
Concern is in trade terms with:
v
Ordnance Factories,
Nagpur and Jabalpur
v
Indian Railways, Ajmer,
Rajasthan
v
Mukund Limited, Mumbai
v
London Metal And
Commodities Limited, London
v
Chuen Luen Chemical Holdings,
China
The
Company’s Sales Turnover has risen upto 10%.
Website Details :
Subject is a leading international trading company since 1964 PEC
is engaged, globally in the export and import of a variety of Ferrous and
Non-Ferrous products/Commodities, and also undertakes turnkey engineering
projects of all sizes. Serving as a single point contact for the customer /
supplier and ensuring the best product quality with trouble free and most
friendly and reliable services have been the main features of PEC's services.
Being a Government of India and in an effective coordination with government
authorities. Being a global marketing firm, PEC is well positioned to develop
overseas sources of supply, gathering and supplying critical market information
on capital market position.
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.33 |
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UK
Pound |
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.58.88 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
|
33 |
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
|
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 |
|
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 |
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions