MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
J K INSTRUMENTATION |
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Registered Office : |
A – 24, DSIDC Industrial Complex, Block – A, Jhilmil Colony, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Process Control Instruments |
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. Proprietor is reported as experienced and respectable businessman. 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 usually
trade terms and conditions. |
LOCATIONS
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Registered Office : |
A – 24, DSIDC Industrial Complex, Block – A, Jhilmil Colony, |
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Tel. No.: |
91-11-22162603 / 22168065 / 65932601 |
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Mobile No.: |
91-9310229859 / 9868632596 |
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Fax No.: |
91-11-22168065 |
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E-Mail : |
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Website : |
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Area : |
100sq. mts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. S. S. Chauhan |
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Designation : |
Proprietor |
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Address : |
E – 17 – D, GTB Enclave, |
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Tel No.: |
91-11-22168065 |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Mechanical Engineer |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer andExporter of Process Control Instruments |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Terms Export: L/C Local Sales: Cash or 30 -45 days Credit |
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Purchasing : |
Cash or 30 days Credit |
GENERAL INFORMATION
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Customers : |
Western Engineers, Mohan Miken, Mohan Nagar Dabur India Limited Indian Oil Corporation Bharat Petroleum |
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No. of Employees : |
8 |
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Bankers : |
ICICI Bank Limited Anand Vihar, Canara Bank, Vivek Vihar, |
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Facilities : |
No overdraft |
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Banking
Relations : |
Satisfactory |
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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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8.000 |
6.000 |
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Gross Profit |
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13% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Future Programs of
Company:
Subject wants to increase export
Company Profile:
Subject was established in
the year 1996 and with the intense efforts and dedication of the whole team
members, they have gained recognition as a manufacturer and exporter of
outstanding range of Reflex level Gauges, Transparent level Gauges, Tubular level Gauges, Miniature level Float Switches, Bypass
magnetic level Indicator, Float & Board level Indicator, Sight Flow
Indicator, Safety relief valves, Needle Valves, Flow Meter, Cable Float
Switches. Over the years, they have built thousands of Level Sensor, Site Flow Indicators and Automatic Liquid Level
Controller for various applications. Various other complimentary
products have been added to their product list that has provided them a
distinguished reputation in the competitive market.
- Their highly skilled and technically
qualified team of management, engineers and quality control professionals
have enabled them to produce flawless range of products
Applications
The
Level Controls are used
for measuring temperature, pressure, flow and level in a large-scale continuous
process. The Level Gauges are
meters used in industries to determine the level of liquids in a fixed storage
or process tank. Liquid Level Switches
are used to detect specific liquid levels or interfaces between liquids. Liquid Level Sensors are used to
detect liquid levels or interfaces between liquids such as oil and water or
liquids and solids. Their entire range of Level Controls Equipment and production has offered the best
through their reliable and efficient services.
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. |
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1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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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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