MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
J. J. AUTO ENGINEERING |
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Registered Office : |
7, Meladi Estate, Near Gota Railway Crossing, Gota Takuka, Daskroi, Ahmedabad
– 382481, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of all kinds or types of Crankshafts. |
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 4000 |
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Status : |
Satisfactory |
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Payment Behavitheir : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern with satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
7, Meladi Estate, Near Gota Railway Crossing, Gota Takuka, Daskroi,
Ahmedabad – 382481, Gujarat, India |
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Tel. No.: |
91-2717-241811 |
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Fax No.: |
91-2717-241453 |
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E-Mail : |
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Area : |
600 Sq. mts. |
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Location : |
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SOLE PROPRIETOR
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Name : |
Mr. Kanubhai Patel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. Jingnesh Patel |
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Designation : |
Marketing and Developing |
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Date of Birth/Age : |
26 Years |
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Qualification : |
Mechanical Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all kinds or Types of Crankshafts. |
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Exports : |
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Products : |
All Products |
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Countries : |
Poland, Turkey, Bangladesh, Pakistan, Dubai, Korea, European Countries
like Egypt, Iran, etc., |
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Terms : |
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Selling : |
L/C, Credit (60 Days), T/ T |
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Purchasing : |
Credit (30 to 60 Days ) |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
50 |
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Bankers : |
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Facilities : |
--- |
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Banking
Relations : |
Satisfactory |
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Associates: |
Address : 6, V. K. Estate, Near Gota Railway Crossing, Gota Takuka,
Daskroi, Ahmedabad – 382481, Gujarat Line of Business : Manufacturer and Exporter of all kinds or Types of
Crankshafts.
Address : 11, Meladi Estate, Near Gota Railway Crossing, Gota Takuka,
Daskroi, Ahmedabad – 382481, Gujarat Line of Business : Manufacturer and Exporter of all kinds or Types of
Crankshafts. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
--- |
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Total : |
Rs.1.000 million |
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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12.000 |
6.000 |
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Expected Sales (2007-08) : Rs.17.500 millions
LOCAL AGENCY
FURTHER INFORMATION
Attached Web Details
The concern began manufacturing Automobile Crankshafts in 1990 with a commitment to excellence in manufacturing and the highest level of customer service possible. Their customers have long appreciated the foundation on which the concern was built, one of Performance, Quality, Availability and Service. With many years of engineering and employee experience, the concern continues to set the industry standards for innovative product design and machining excellence. The concern is an O.E. supplier to Mahindra Gujarat Tractor Ltd. & Greaves Cotton Ltd.
Products
They are a manufacturer and exporter of high performance Crankshafts.
Their quality crankshafts are strong
enough to stand up against fatigue on even the most demanding commercial and
industrial application. Their
crankshafts can be custom made to provide the optimum balance of
mechanical properties and mach inability. The concern was awarded for their
Quality, Quantity and Service and their
materials are also approved by OEMs.
Export Markets
- Their
export service covers a vast area of international markets that includes
Saudi Arabia, Turkey, Korea, Poland, UK, UAE, Pakistan and Bangladesh
- They also provide OEMS (original
equipment manufacturer services) for their national and international clients
- Export percentage of their total production is 50%.
Quality
The concern endeavors to offer superior quality products at the most
competitive prices. The concern manufactures all its products according to
international specifications so that it has maximum utility in all kinds of
vehicles. Different kinds of quality inspections are undertaken to ensure that
the products match quality standards.
Area of Expertis
Based
on industry knowledge, they can provide the specialized mechanical properties
that their customers require. From
product conception continuing till the forging is complete and shipped to
their door, they work with their customers during each step of manufacturing
to deliver the quality they deserve and the performance their end-users demand.
Infrastructure
The concern is always working on innovating ideas to churn out something new for the market. It has well equipped in-house production unit with state-of-the-art machines. The company's strength lies in its decades of experience and understanding of customers' needs and requirements. The concern possesses a team of highly skilled professionals with years of experience in the automobile field.
Customer Satisfaction
Much to their delight, they have made their presence felt in the domestic and international markets within a short period. The concern wants to have a client base all over the world and therefore it intends to make inroads into the overseas markets. It is with this intention that the concern has developed a web enabled interface so that their clients can make business queries online.
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CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheir ces
including but not limited to: The Ctheir ts, India Prisons Service,
Interpol, etc.
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] Ctheir t 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 :
Their 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.
Their 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.39.40 |
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UK Pound |
1 |
Rs.81.12 |
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Euro |
1 |
Rs.56.69 |
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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--BUSINESS 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 |
YES |
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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 |
NO |
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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 |
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
unfavtheir able 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 |
Unfavtheir able & favtheir able factors carry similar weight in
credit consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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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