MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
J M P INDUSTRIES |
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Registered Office : |
A-5, Focal Point, Jalandhar – 144012, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Partnership concern with an unlimited liability of the partner |
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Line of Business : |
Manufacturer, Exporter and Trader of Auto and Casting parts |
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 : |
USD100000 |
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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 company 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 / Factory: |
A-5, Focal Point, Jalandhar – 144012, |
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Tel. No.: |
91-181-2601753/ 2601650/ 2601655/ 6547650/ 6548650 |
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Mobile No.: |
91-9357220101 |
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Fax No.: |
91-181-2601655/ 2601753 |
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E-Mail : |
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Website : |
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Area : |
26000sq.fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Balraj Kapoor |
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Designation : |
Partner |
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Date of Birth/Age : |
57 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
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Name : |
Mr. Jatinder Kapoor |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
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Name : |
Mr. Balram Kapoor |
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Designation : |
Partner |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
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Experience : |
22 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Auto and Casting parts |
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Products : |
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Exports : |
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Products : |
Casting and Auto Parts |
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Countries : |
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Terms : |
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Selling : |
Credit, Cash (30 Days) |
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Purchasing : |
Cash, Credit (60 Days) , Sight |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Casting and Auto Parts |
-- |
-- |
-- |
As per Demand |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Office- 40, Factory – 700, Total - 740 |
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Bankers : |
Punjab National Bank, Civil Lines, Jalandhar |
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Facilities : |
Credit Limit – Rs. 100.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ashwani Gupta Chartered Accountant |
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Associates/Subsidiaries : |
Line Of Business: Auto Parts
Line Of Business: Auto Parts 3.
JMP Auto Limited 4.
JMP Enterprises Private Limited
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 25.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 25.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
600.000 |
570.000 |
400.000 |
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Profit/Loss for the year |
75.000 |
56.700 |
25.000 |
Expected Sales (2007-08) : Rs.
LOCAL AGENCY FURTHER INFORMATION
Company Profile:
They, at JMP Industries, believe that a perfect blend of
sophisticated technology and agile personnel is the key to a successful business.
The credit for their phenomenal growth goes to the strong network they have
across the globe and the quality they offer. Their objective is to manufacture
high value, specialized automotive parts to cater to the needs of customers in
global village. Through equipment, training, and quality control, they provide
the best possible automotive parts to their customers. Their diverse product
line in addition to superior customer service and cutting-edge technology
differentiates them from their competitors.
They unveil their splendid range of automotive parts which
are engineered to suit the requirements. Their automotive parts are customized
according to the specifications.
PRODUCT MIX
Product
Name: Range: Kg
per piece
Cast
Iron Castings 1 to
150
Ductile
Iron Castings ¼ to 200
Auto
& Trailer Components. ½ to 200
Plant Type Issuer
JMP
Industries ISO/TS-16949:2002 BSI
JMP
Castings Ltd. ISO 9001:2000 ICL
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.40.81 |
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1 |
Rs.81.57 |
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Euro |
1 |
Rs.54.91 |
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 |
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 |
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, we have no basis upon which to
recommend credit dealings |
No Rating |
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