MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION DETAILS
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Name : |
JAI MATA CUTLERY WORKS |
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Registered Office : |
A- 124 / 1, Wazirpur Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Stainless Steel Cutlery, Stainless Steel Utensils,
Kitchen Tools, Serving Tools, Tongs, Bars Accessories and Egg Whisk. |
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 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- 124 / 1, Wazirpur Industrial Area, |
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Tel. No.: |
91-11-27371291 / 42474432 / 65166479 |
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Mobile No.: |
91- 98101994312 |
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Fax No.: |
91-11-27371291 |
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E-Mail : |
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Website : |
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Area : |
380 sq. mts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Pradeep Kansal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 years |
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Qualification : |
Post Graduate |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stainless Steel Cutlery, Stainless Steel
Utensils, Kitchen Tools, Serving Tools, Tongs, Bars Accessories and Egg
Whisk. |
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Exports to : |
95 % Export to Europe |
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Terms : |
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Selling : |
Cash or Credit (30 - 45 days ) |
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Purchasing : |
Cash or Credit (30 days ) |
PRODUCTION STATUS
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Having Capacity to increase 50 % Production in the same infrastructure |
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GENERAL INFORMATION
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Suppliers : |
Local Purchase |
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Customers : |
Dgreasia Impex Pvt. Ltd, Jagdamba Exports, Ankur Exports, Davi Sons Exports |
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No. of Employees : |
30 |
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Bankers : |
H D F C Bank Limited, Shalimar Bagh, |
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Facilities : |
No Overdraft |
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Banking
Relations : |
Satisfactory |
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Memberships : |
All India Stainless Steel Association |
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Associates/Subsidiaries : |
1. DEI GRATIA
IMPEX PVT. LTD. |
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Address: 213, 2nd Floor, Plot No. c1/2,
Commercial Complex, Azadpur, |
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Phone No: + 91-11-30935528, 27677726 |
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Directors: |
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Mr. S.P. Kansal
09350833231 Mr. Sarvesh Gupta
09868439155 Mr. Gaurav Kansal
09899167888 Emial: info@deigratiaimpex.net,
deigartiadelhi@indiatimes.com
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Activities: Manufacturer and Exporter of Stainless Steel Cutlery,
Stainless Steel Utensils,
Kitchen Tools, Serving Tools, Tongs, Bars Accessories and Egg Whisk.
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Sales Turnover: Rs.100.00 millions |
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2. JAGDAMBA
EXPORTS |
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Address: Plot No. 153, I and J HSIDC Sonepat – 131028,
Haryana |
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Phone No: +91-130-2800651 / 52 / 53 / 54 / 55 |
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Fax: +91-130-2374157 |
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Activities: Manufacturer and Exporter of Stainless Steel Cutlery,
Stainless Steel Utensils, Kitchen
Tools, Serving Tools, Tongs, Bars Accessories and Egg Whisk.
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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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15.000 |
12.500 |
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Profit after tax |
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8 % |
N A |
Expected Sales (2007-08) : Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Profile:
Subject was established in the year 1986.
Today, they are the leading manufacturer and supplier of Serving Steel Cutlery,
Stainless Steel Utensils, Kitchen Tools, Serving bar Accessories and Egg
Whisk. With voluminous experience they
provide quality products and have carved a strong niche for ourselves in the
national as well as international market. For last 20 years they are serving
their clients with optimum quality products at affordable rates. Their growth
from a small company to a corporate entity is the result of their satisfied
customer base. All their quality
products are sourced from the finest raw materials ensuring the clients of
reliable, durable and quality products.
They owe their success to the untiring effort of their workforce which
takes all the pains to develop cost down products and commit the client of
timely delivery.
They constantly enhance and develop their
product range in order to cope up with the global challenge. We offer wide and comprehensive range of
optimum quality products. Their ranges
of products include:
- Stainless Steel Cutlery
- Stainless Steel Utensils
- Kitchen Tools
- Serving Tools
- Tongs
- Bar Accessories
- Egg Whisk
Superior quality and durability are the
hallmark of their products. They have a
team of high qualified and experienced professionals who monitor each and every
stage of manufacturing process, starting from the procurement of the raw
material to the final delivery of the products in the market. They pay attention to all the specification
related to temperature, durability and strength thus making their products
unique in the global market. Their
commitment to deliver superior quality products has helped us to become a
manufacturer, exporter and supplier of Stainless Steel Cutlery, Stainless Steel
Utensils, Serving Tools, Tongs, Bar Accessories and Egg Whisk.
They are backed by world class infrastructure
coupled with cutting edge technologies.
Their state of the art manufacturing unit is armored with hi-tech
machineries which yield excellent results at low cost. Their well established warehouse is the
backbone of the company and has capacity to store large quantity of products. Their efficient transport facilities
guarantee prompt delivery to the clients.
Their highly talented workforce comprising of efficient, dedicated and
experienced techno crafts and professionals have always been their pillar of
strength.
Their pro-active services, innovative products
and client satisfaction have helped us to win the trust, support and confidence
of world client base. They are exporting
their products to Europeon markets.
Quality is paramount to them and they can
sacrifice anything for that.
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. 41.29 |
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1 |
Rs. 82.30 |
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Euro |
1 |
Rs. 56.20 |
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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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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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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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
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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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