MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
JAPJI ENTERPRISES |
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Registered Office : |
J-188-A, 1st Floor, Rajouri, Garden, New Delhi-110027 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture, Exporter and Supplier of a wide array of Auto Heavy Duty
Truck and Trailer 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 : |
USD 800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 condition. Nothing advarse report. |
LOCATIONS
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Registered Office : |
J-188-A, 1st Floor, Rajouri Garden, New Delhi-110027, India |
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Tel. No.: |
91-11-25423477/ 27881648 |
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Mobile No.: |
91-9310919110/ 91-9810048812 |
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Fax No.: |
91-11-27881648 |
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E-Mail : |
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Website : |
With trade India |
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Area : |
130 Sq. mt (600 Sq. ft. as office+Residence of Mr. Varinder Chadha) |
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Location : |
Owned |
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Factory : |
43, Shiv Puri, Samey Pur, Delhi |
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Tel. No.: |
91-11-27881648 |
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Fax No.: |
91-11-27881648 |
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E-Mail : |
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Area : |
270 Sq. mt. (3 Floors) |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr. Varinder Chadha |
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Designation : |
Proprietor |
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Address : |
J-188-A, 1st Floor, Rajouri Garden, New Delhi-110027, India |
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Date of Birth/Age : |
50 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
KEY EXECUTIVES
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Name : |
Mr. Prabhadeep Singh Chadha |
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Designation : |
Chairman |
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Address : |
J-188-a, 1st Floor, Rajouri Garden, New Delhi-110027, India |
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Date of Birth/Age : |
25 years |
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Qualification : |
Graduate |
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Experience : |
3 years |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Exporter and supplier of a wide array of Auto Heavy Duty
Truck and Trailer Parts. |
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Products : |
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Exports : |
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Products : |
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Countries : |
Saudi Arabia (Export just started) |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by : 50 %
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing, purchase of raw material from open market |
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Customers : |
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No. of Employees : |
20 |
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Bankers : |
Centurian Bank Of Punjab, Rajouri Garden, New Delhi-110027 |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Rubber Men Corporation (Just Started) |
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]
Expected Sales (2007-08) : Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
History
Subject,
has moved from strength to strength in the automotive industry, and developed
its expertise extensively. Based on their in-depth commitment to quality, we have
been able to establish theirselves as a renowned manufacturer, exporter and
supplier of an array of auto parts and components like
Engine Mountings, Torque Rods, Silent Block Bushes, Transmission Mounts,
Industrial Mounts, Mud Flaps, Rubber Mats, Aluminium Components, and other
Rubber Moulded Parts.
They have an honest zeal to achieve manufacturing excellence
and accordingly fabricate precise auto components and parts. At Japji
Enterprise, they treat their growth as a learning curve, that is further utilized
by us in all their manufacture related processes. Despite a boom in the
technology sector, they have taken competition in their stride and emerged as a
prominent entity by manufacturing and exporting superior quality auto products.
As a matter of reality, they are currently catering to the worldwide market of
auto parts industry.
Product Range
Subject is a reputed manufacturer, exporter and supplier of a wide
array of Auto Heavy Duty Truck and Trailer Parts which includes:-
- Engine
Mountings
- Torque Arms,
Bush and Rods
- Silent Block
Bushes
- Transmission
Mounts
- Industrial
Mounts
- Mud Flaps
- Rubber Mats
- Aluminium
Components
- All types of
Bushes
- Trailer
Rubber Parts
- Center Joint
Rubber for Propeller Shafts
- Rubber
Bellows
- Any Rubber
Moulded Parts
- Rubber
Compounds.
Quality Assurance
They, manufacture cutting edge auto parts and components which
effectively meet the specific requirements of their clients. This task is
accomplished by us in strict adherence to the international standards of quality.
With an aim to upgrade their quality parameters further, they consistently
imbibe the dynamic and global quality standards. Regular quality checks are
conducted across various stages of production. We also procure the best raw
materials such as natural rubber, aluminium, etc. from renowned suppliers and
vendors engaged in the market.
Infrastructure
Subject has installed
state-of-the-art machinery at its manufacturing plant, which assures that each
auto part and component that is produced is designed to complete perfection. We
have hi-tech machines to design and accomplish accuracy in shapes. The
production process is in tune with the international quality standards. Their
facility is managed by experienced professionals using the latest technology
available with us. We have a modern research lab that has includes latest tools
and equipment. Their research endeavors have enabled us to offer the world, an
array of better auto parts & components.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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] 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.39.51 |
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UK Pound |
1 |
Rs.81.16 |
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Euro |
1 |
Rs.56.76 |
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 |
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--LITIGATION |
YES/NO |
YES |
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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 |
YES |
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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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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
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. |
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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