MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
JAMUNA UDYOG |
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Registered Office : |
A – 27, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ05860B |
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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 Automotive Lighting Equipment |
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 8000 |
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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 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
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Registered Office : |
A – 27, |
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Tel. No.: |
91-11-27245143 / 42381375 |
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Mobile No.: |
91-9810489504 |
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Fax No.: |
91-11-27465743 |
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E-Mail : |
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Website : |
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Area : |
4032 sq. fts. |
PARTNERS
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Name : |
Mr. Rajat Bajaj |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
26 Years |
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Qualification : |
B E |
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Experience : |
2 Years |
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Name : |
Mr. Anoop Bajaj |
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Designation : |
Working Partner |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Experience : |
24 Years |
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Name : |
Mrs. Nimal Bajaj |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automotive Lighting Equipment |
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Products : |
Ø Head Lamps Ø Tail Lamps Ø Side Indicators / Pointers Ø Corner Lamps Ø Auxiliary Lights Ø Work Lamps Ø Roof Lamps Ø Fog Lamps Ø Reflex Reflectors Ø Licence Lamps / No. Plate Lights Ø
And Other Plastic & Sheet Metal Parts. |
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Brand Names : |
BAJATO |
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Exports : |
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Products: |
Automotive Lighting Equipments |
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Countries : |
UAE, Syria, Egypt, Sri Lanka, Malaysia, Brazil, Morocco, France,
Russia, Ethiopia, Mexico, USA |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS
Capacity to increase production by: 40%
GENERAL INFORMATION
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Suppliers : |
Purchase of raw material from open market |
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Customers : |
As replacement in all major global brands like: Ø
Mercedes Ø
Man Ø
Daf Ø
Scania Ø
Volvo Ø
Hino Ø
Ø
Mitsubishi Ø
Fiat Ø
Iveco Ø
Imr Ø
Utb (not as OE) In all over |
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No. of Employees : |
30 |
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Bankers : |
Oriental Bank of Commerce, Ghera Nagar, |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Federation of Indian Export Organizations |
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Associates/Subsidiaries : |
Ø
Ø
Bajaj Auto Industries Group Turnover : Rs.
80.000 millions Employees: 110 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 millions |
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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7.000 |
6.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08) : Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
As per website
details:
ABOUT THEM
Throughout the 45 years of their existence, they have laid
high emphasis on innovation and quality and are committed to continue their
quest for excellence focusing on the same. They manufacture and export
automotive lighting equipment under the brand name subject which are world
renowned and have their good presence specially in middle east, Africa, Latin
America and
Foreseeing the growth of automobile sector in
Their products are used in cars ,trucks ,buses and other commercial
vehicles.Also they cater to the demand of products for tractors, earth movers
and different agricultural machines.
Each stage of production process is carried under the strict supervision of
quality control experts to ensure the flawless output.
Their efficient supply chain managers make it possible for them to efficiently
and timely meet the demands of buyers. Their integrated work approach and
complete coordination at all levels enable them to process orders within the
shortest possible lead time. During the entire cycle, from ordering to supply
the buyer is updated at each step, ensuring complete transparency in order execution.
Products
They manufacture and export complete range of automotive lights that are used
as replacement in all major global brands like: Mercedes, Man, Daf, Scania,
Volvo, Hino,
These Products are engineered keeping in mind the latest automobile mechanism
and quality requirements of the customers' all over the world. Hence,
throughout the production cycle their engineers, QC personnel, production
planning and contorl department take every small details provided by the
clients into consideration and provide them with superior quality products at
competitive price.
They are capable of developing new customized automotive lighting product at
rapid pace as per specific requirements of their valued clients and are in a
position to offer them at industry leading prices.
STRENGTHS
Ø Latest technology to produce world class products
Ø Most modern plants equipped with latest CNC machines
Ø Pool of expert engineers and workshop technicians
Ø Dedicated quality control department and staff.
Ø Rich and resourceful R& D for continuous improvement.
Ø They keep ourselves abreast with the market trends and customers' choices.
Ø React quickly to adopt technical changes & add latest to the infrastructure.
Ø Regular participation in national and international auto exhibitions to understand the market and products in a better way
Ø Strong market goodwill and wide client base
INFRASTRUCTURE
Centrally situated in
Raw materials of best brands are used to ensure that best quality products come
out of their works. They have special plants for surface treatment, which
includes vacuum metallizing, electroplating , powder coating, galvanizing,
painting, etc. to give best finish and shine to their lights.
All the products undergo rigorous checks in their testing unit, which is
equipped with light photo goniometers, vibration testers, etc.
Dedicated packaging units supply international quality strong export packing
materials to ensure safe packaging.
Their works are well connected to airports and sea ports and a professional
team of forwarding agents ensure faster delivery of the cargo to the clients.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.24 |
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1 |
Rs.83.04 |
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Euro |
1 |
Rs.55.66 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
NO |
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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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48 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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