MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
M. J. TRADERS |
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Registered Office : |
1, Bonfield Lane, 1st Floor, kolkata – 700 001, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1963 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporter of all types of quality Welding Equipments, i.e. Gas Pressure
Regulators, Gas Cutting Blowpipe, Gas Welding Blowpipe, Pug Cutting Machines,
MIG and TIG Torches with Machine, Gauging Torches, Leather Hand Gloves,
Electrode Holder, Safety Appliances, Fire Safety and Traffic Safety Items |
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 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern having satisfactory track.
Trade relations are fair. 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 : |
1, Bonfield Lane, 1st Floor, kolkata – 700 001, |
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Tel. No.: |
91-33-22105590 / 22421664 /32580722 |
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Mobile No.: |
91-9339872021 / 9230507639 |
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Fax No.: |
91-33-22424484 |
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E-Mail : |
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Website : |
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Area : |
250q.fts |
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Location : |
Rented |
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Factory : |
98/K, |
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Area : |
2200 sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Murarilal Gupta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
73 years |
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Qualification : |
Under Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of all types of quality Welding Equipments, i.e. Gas Pressure
Regulators, Gas Cutting Blowpipe, Gas Welding Blowpipe, Pug Cutting Machines,
MIG and TIG Torches with Machine, Gauging Torches, Leather Hand Gloves,
Electrode Holder, Safety Appliances, Fire Safety and Traffic Safety Items. |
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Products : |
· Gas Pressure Regulators, · Gas Welding and Cutting Blow pipe, · Electrode Holder and Earth Clamp, · Welders Leathers Gauntelets/ Gloves, · Gas Cylinder Trolley with Tool Box · Flash Back Arrestor, · Soft Solder, · Silver Brazing Rod, · electrode Drying Oven Cabinet type and portable, · Fire Flame Retardant Dungarees,Coat and trousers, · Wire Brush, Goggles, · Dust Respirator, · Ear Plug/ Ear Muff, · Hand/Head Screen, Shield, · White and Black Glass for welding, safety Helmet Harness / Fitting, · Gauging Holder, · TIG Welding Torches, Spares of power sources · MIG Welding Torches, Spares of power sources |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End users |
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No. of Employees : |
15 |
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Bankers : |
·
State Bank of Address: N S Road Branch · ICICI Bank Address: |
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Facilities : |
(C/C – Rs. 4.000 millions from State Bank of C/C – Rs. 1.05 millions from ICICI Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Goenka Sav and Company Chartered Accountants |
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Address : |
Kolkata – 700 001, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 3.000 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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22.000 |
20.300 |
Expected Sales (2007-08) : Rs.24.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
·
All
·
Defence
·
SAIL
·
Coal India Limited
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BHEL
·
BEML
·
DRDL
·
NFC
·
ONGC
·
Shipyard
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Port Trust
·
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Ordnance Factory
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IISCO
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State Electricity Board
WEBSITE DETAILS:
Subject are a
pioneer manufacturer and exporter of all types of quality Welding
Equipments, i.e. Gas Pressure Regulators, Gas Cutting Blowpipe, Gas Welding
Blowpipe, Pug Cutting Machines, MIG and TIG Torches with Machine, Gauging
Torches, Leather Hand Gloves, Electrode Holder, Safety Appliances, Fire Safety
and Traffic Safety Items. They are an
ISI marked concern well-known for the quality of their products. Established in
the year 1961 with limited resources, today, they have grown multifolds.
Products
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Gas Pressure Regulators- Single Stage, Two Stage
and Multistage (Dura Type) as per IS:6901/88
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Gas Welding and Cutting Blow Pipe as per IS:7653
and Nozzle Mixing Cutter
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Electrode Holder and Earth Clamp as per IS:2641.
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Welders Leather Gauntelets/Gloves as per IS:2573
and IS:6994
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Gas Cylinder Trolley with tool box as per
IS:8016. Pug Cutting Machine (Straight and Circle Cutting)
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Flash Back Arrestor
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Soft Solder as per IS:193
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Silver Brazing Rod as per IS:2927, Face Shield
as per IS:8521, part 1 and 2
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Electrode Drying Oven Cabinet Type and Portable
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Fire Flame Retardant Dungarees, Coat and
Trousers as per IS:11871
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Wire Brush as per IS:4517
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Goggles as per IS:1179
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Dust Respirator, Mask as per IS:9573
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Ear Plug/Ear Muff as per IS:9167
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Hand/Head Screen/Shield as per IS:1179
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White and Black Glass for Welding, Safety Helmet
Harness/ Fitting as per IS:2925
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Gauging Holder 600, 900 and 1200 Amps
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TIG Welding Torches, Spares of Power Source as
per IS:7931
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MIG Welding Torches, Spares of Power Source as
per IS:7931
· and many more.
Infrastructure
Their infrastructure plays an important role which enables them to meet the
exact requirements and standards of the industry. They possess state-of-the-art
technology and hi-tech machines which yield excellent results and ensures
efficacy and quality of the products. Their concern has installed modern
manufacturing systems incorporating the most advanced quality testing
facilities in a bid to meet the growing international demands.
Quality
Quality is of paramount importance to them and they are constantly elevating
their standards of excellence by offering better quality products and services.
From conception to final delivery, every product undergoes several quality
tests. Their team of experts maintains a strict vigil on the manufacturing
process to ensure that all the products are flawless. Their reliability is
corroborated by ISO 9001:2000 certification. In addition to this, they are also
registered with SSI, National Small Industries Corporation Limited. (NSIC) and
DGS and D.
Valuable Customer
·
All
·
Defence
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SAIL
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Coal India Limited
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BHEL
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BEML
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DRDL
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NFC
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ONGC
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Shipyard
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Port Trust
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Ordnance Factory
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IISCO
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State Electricity Board
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from variothem 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 btheminess 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 focthemes 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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THEM Dollar |
1 |
Rs.39.69 |
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1 |
Rs.80.90 |
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Euro |
1 |
Rs.56.42 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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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--BTHEMINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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--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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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45 |
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 |
STATTHEM |
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 catheme 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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