MIRA INFORM REPORT

 

 

Report Date :

09.01.2007

 

IDENTIFICATION DETAILS

 

Name :

JADESHWAR FOUNDRY

 

 

Registered Office :

GIDC, 2, AJI Industrial Estate, 100 Feet Road, Plot No. 313, Rajkot – 360003, Gujarat 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

1971

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTJ01300F

 

 

PAN No.:

[Permanent Account No.]

AABFJ5005F

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners

 

 

Line of Business :

Manufacturer and Exporter of Cylinder Block, Pump Casting, Intricate Casting and Oil Engine Parts 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 15000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established and reputed concern having satisfactory track. Partners 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 concern can be considered normal for business dealings at usual trade terms and conditions. 

 

LOCATIONS

 

Registered Office/Factory :

GIDC, 2, AJI Industrial Estate, 100 Feet Road, Plot No. 313, Rajkot – 360003, Gujarat 

Tel. No.:

91-281-2387234

Mobile No.:

91-9825071584/9825074804/9824156725

E-Mail :

jades_foundry@yahoo.co.in, info@jadeshwarfoundry.com

Website :

http://www.jadeshwarfoundry.com

Area :

1200 Sq. ft

Location :

Leased

 

PARTNERS

 

Name :

Mr. Mahesh Patel

Designation :

Partner

Date of Birth/Age :

32 Years

Qualification :

Under Graduate

Experience :

10 Years

 

 

Name :

Mr. Kamlesh Patel

Designation :

Partner

Date of Birth/Age :

29 Years

Qualification :

Under Graduate

Experience :

8 Years

 

 

Name :

Mrs. Jayaben Patel

Designation :

Partner  (Passive Partner)

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Cylinder Block, Pump Casting, Intricate Casting and Oil Engine Parts 

 

 

Exports to :

Middle East, Saudi Arabia, Egypt, Sudan and Dubai

 

 

Terms :

 

Selling :

Cash

 

 

Purchasing :

Cash

 

PRODUCTION STATUS

 

Particulars

 

 

 

Actual Production

 

 

 

 

Per month 150 ton

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

20

 

 

Bankers :

Bank of India, Main Branch, Rajkot

Rajkot Peoples Cooperative Bank, Devpara Branch, Rajkot 

 

 

Facilities :

Rajkot Peoples Cooperative Bank – Cash Credit – Rs. 1.000 Millions

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

P T Makadia & Company

Chartered Accountant

Rajkot 

 

 

Associates/Subsidiaries :

Nil

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 3.000/3.500 Millions

Borrowed :

--

Total :

Rs. 3.000/3.500 Millions

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2006

31.03.2005

Sales Turnover

 

9.000/10.000

7.000/8.000

 

 

 

 

Export

 

30%

NA

 

Expected Sales March – 2007 – Rs. 9.000 Millions

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References

 

 

Business

 

Intend to start in 6 month to Manufacturer PVC Materials  

 

As per Website Details

 

Jadeshwar Foundry is in the business of intricate casting & oil engine parts pumps casting manufacturing since its inception year 1971. the promoters of the group have vast experience of more than 35 year in the manufacturing of casting & machining. After gaining experience of 4 decades, Jadeshwar Foundry. Has become one of the pioneer industrial house.

 

Their motto is “quality is never an accident, it is the result of an intelligent efforts” and no compromise on quality.

 

Jadeshwar Foundry has full-fledged machine shop and has expertise & know-how for manufacturing various components.

 

They have their own oil engine part division & pumps parts division and in house tool room & all inspection facilities

 

They have spare capacity in green sand approximately 100 to 125 m.ton per month weight up to 50 k.g.s. as per customer drawing requirement

 

Jadeshwar Foundry is in the business of intricate casting & oil engine parts pumps casting manufacturing since its inception year 1971. the promoters of the group have vast experience of more than 35 year in the manufacturing of casting & machining. After gaining experience of 4 decades, Jadeshwar Foundry. Has become one of the pioneer industrial house.

line

A leading manufacturer and exporter of an unmatchable variety of castings, cylinder blocks, etc. since 1971

 

About Us

 

With an innovative thought process and cutting edge technology, they, "Jadeshwar Foundry", have carved a valuable niche in the domestic as well as in the international market. They have a voluminous experience of 25 years, complete know how of the industry, streamlined production process and excellent pro-active services. This has entrenched us as one of the most accomplished manufacturers and exporters of Cylinder Block, Pump Casting, Intricate Casting and Oil Engine Parts Pumps Casting. Their objective is to provide defect free products that not only fulfill the needs of their customers but also provide an added functional output.

 

They firmly believe in customizing their products by incorporating their customers' valuable inputs to remain far ahead of their competitors. Their efficiency in business has set benchmarks for their competitors on the lines of quality and finesse. They continually improve upon the manufacturing processes and work environment through total employee involvement and strict adherence to ethical business practice. Their profound infrastructure and excellent transport facilities help us to sustain their success by constantly enabling us to adequately respond as per the demands of the market.



Products

 

They offer and deal in premium quality products to give their clients excellent services and true value for money. Their wide and compressive range of products, includes:

 

 

Quality

 

Excellence is a blend of quality, innovation and technology. They aim high with a never ending quest to reach the pinnacle of perfection. Subsequently, they have adopted several quality control procedures adhering to the global standards. Their team of quality control inspectors maintain a strict vigil on the manufacturing process for ensuring flawless products. Their experts carefully analyze the raw materials used via acute monitoring of the production process. They ensure that any product bearing their name, marks reliability, quality and durability.


Why Us?

 

They constantly upgrade and innovate their products to make it more apt for the contemporary industry.

 

They possess state-of-the-art production unit which is backed by hi-tech machines and latest technology.

 

They also maintain good relationship with logistics agencies ensuring timely and safe delivery of products.

 

Their cost down production techniques ensure the customers of impeccable quality products at the most affordable rates.

 

They procure raw materials from reputed suppliers and special attention is laid on the manufacturing process.

 

Their spacious and technologically advanced warehouse has the capability to store bulk amount of the products.

 

Their workforce comprises highly qualified engineers, quality control experts, efficient supply chain managers and other dedicated personnel.

 

Profile

 

Business Type

Exporter , Manufacturer , Trading Company

Export Percentage

30%

Sales Volume

Rs. 8.000 Millions

No of Staff

25

Year of Establishment

1971

Export Markets

Egypt, Saudi Arabia, Arabian countries, European countries and Middle East

OEM Service Provided

No

No of Engineers

2

Monthly Production Capacity

As per requirement

Product Range

Cylinder Block, Pump Casting, Intricate Casting and Oil Engine Parts Pump Casting

Business Type

Exporter , Manufacturer , Trading Company

 

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.44.42

UK Pound

1

Rs.85.79

Euro

1

Rs.57.80

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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

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

 

 

 

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