MIRA
INFORM REPORT
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Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Panorama, Ground Floor, 203, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1971 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB12756C / MUMB04949A |
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PAN No.: [Permanent
Account No.] |
AABFB8768M / AABFB8768M |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturers, Dealers and Importers of Synthetic Rubber and Chemicals
on job work and sale under own brand. |
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 : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. General financial position is
satisfactory. Payments are usually
correct and as per commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Panorama, Ground Floor, 203, |
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Tel. No.: |
91-22-23621422/23695271 |
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Fax No.: |
91-22-23635825 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. |
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Location : |
Owned |
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Branches : |
11, Ph: 91-11-23365468 Mo: 91-9810059925 Email : sharma@bomchem.com Mr. M L Sharma No. 111, (Old No.
46) Ground Floor, 4, Ph: 91-44-4421099 Fax: 91-44-4422450 Email :
chennai@bomchem.com 19A, Ph: 91-33-22172341
/ 22172342, Res: 91-33-4541866 / 4540343 Mo: 91-9831031089 Email : pradeep@bomchem.com Mr. Pradeep Goenka
G-8, Sujata Flats,
Shahi Baug, Ahmedabad-380004, Ph: 91-79-2850407 Mo: 91- 9824088480
Email : ahemdabad@bomchem.com Mr. Nitin
Dhurubhai 5/840, Ph: 91-484-225181
/ 229996 Email: cochin@bomchem.com Mr. Dilip Kumar M 4-3-83/85, Ist
Floor, R.No.11, Lakshmana Business Centre, R. P. Road, Hill Street, Old
Bhoiguda, Secanderabad – 500003 Ph: 91-40-27712879
/ 27717381 Fax:
91-40-27717516 Email: secanderabad@bomchem.com Mr. Ghanshyam Das |
PARTNERS
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Name : |
Mr. Vishal Jhunjhunwalla |
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Designation : |
Partner |
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Date of Birth/Age : |
29 years |
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Qualification : |
Graduate |
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Experience : |
7 years |
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Name : |
Mr. K. S. Jhunjhunwalla |
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Designation : |
Partner |
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Name : |
Mr. C. K. Jhunjhunwalla |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. S. G. Jhunjhunwalla |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Dealers and Importers of Synthetic Rubber and Chemicals
on job work and sale under own brand. |
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Products : |
Synthetic Rubber (General
Purpose) Styrene
Butadiene Rubber (SBR) Technically Specified Acronitrile
Butadiene Rubber (NBR) Blended Polymer Syndiotactic
1,2 - Polybutadiene Ethylene Propylene
Diene Terpolymer (EPDM) Ethylene Propylene Copolymer (EPM) Styrene Butadiene Latex Specialty Rubber Tetrafluoroethylene Propylene Rubber Polyacrylic Rubber (ACM) Chlorinated Polyethylene (CPE) Epichlorohydrin Rubber (ECO) Fluoroelastomer (FKM) Chemicals ADK Cizer
(Polymeric Plasticizer) ADK Hydrocarbon Resin (Petacoal) Calcium Hydroxide (Caldic 2000) Precipated Silica Pyrolytic Silica Sulfur Curing Agent (V-1) Curing Agent (V-3) Bonding Agent Fiber |
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Agencies Held : |
JSR Corporation, Deikin Industries Limited, Tosok Corporation, |
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Exports : |
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Products : |
Synthetic Rubber and Chemicals |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit [30 days] |
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Purchasing : |
Cash, Credit [90 days] and D/P [180 days] |
GENERAL INFORMATION
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Customers : |
Retailers and End Users Roop Rubber Mills Sundaram Brake Linings Limited Sundaram Industries Limited Super Seals India Limited Talbros Automotive Vaid Elastomers Private Limited Vako Seals Varroc Engineering Limited Zenith Rubber
and Plastic |
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No. of Employees : |
20 |
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Bankers : |
Dena Bank Malbar Hill Branch, Mumbai – 400006, ICICI Bank Tardeo, Mumbai – 400034, |
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Facilities : |
The concern do not enjoy facility from its bankers |
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Banking
Relations : |
Satisfactory |
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Associates : |
Hind Elastomers Private Limited Line of Business : Manufacturers, Dealers and Importers of Synthetic
Rubber and Chemicals on job work and sale under own brand. JMF Syntheic India Private Limited, Line of Business : Manufacturers, Dealers and Importers of Synthetic
Rubber and Chemicals on job work and sale under own brand. |
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 |
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Order Booking |
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9.500 |
LOCAL AGENCY FURTHER INFORMATION
The concern represents nearly 20 companies for market products.
The concern do not import, directly.
Import is done by Hind Elastomers Private Limited, Mumbai, a Sister
Concern.
WEBSITE DETAILS
Subject was
established in 1971 by Late Shri S.G. Jhunjhunwalla with a vision to create a
supply chain between
They are an all
India Marketing organization having an integrated product line from all kinds
of Synthetic Rubbers, Elastomers, and Specialty Polymers to Chemicals, Bonding
agent, Additives, Plasticizers, Activators and Testing equipments, Machinery
etc for BCRP the
Subject's business with
During 1985 BCRP
launched Specialty Polymers such as (Dai-El FKM) from Daikin Industries,
All of the brands
subject introduced are renowned and have achieved highest goodwill and brand
image in the Rubber Industry. In 1993 subject set up a Joint Venture with Toyo
Kagaku Kenkyusho Company Limited, manufactures of Metloc in
Since 1976 subject has added many raw materials required by the Rubber Industry
to its range. They provide technical assistance by Japanese trained and
Qualified Rubber Technologist's. They also have a fully equipped R & D
facilities in New Bombay for development of formulation and testing facility
for their valued customers.
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.40.54 |
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1 |
Rs.80.21 |
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Euro |
1 |
Rs.54.51 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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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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