MIRA
INFORM REPORT
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Report Date : |
03.09.2007 |
IDENTIFICATION DETAILS
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Name : |
JAI MATA ELECTRONICS |
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Registered Office : |
WZ – 59C, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of high quality Transformer Bobbins, PCB Mountable
and Plastic Parts for Electronics. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 6000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually correct
and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
WZ – 59C, |
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Tel. No.: |
91-11-65484358 |
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Mobile No.: |
91-9811217013 |
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Fax No.: |
91-11-28540459 |
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E-Mail : |
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Website : |
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Area : |
450 sq. ft. [Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Rajinder Verma |
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Designation : |
Proprietor |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of high quality Transformer Bobbins, PCB
Mountable and Plastic Parts for Electronics. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by : 75 %
GENERAL INFORMATION
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Suppliers : |
Purchase raw materials from open market |
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No. of Employees : |
10 |
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Bankers : |
Punjab and Sindh Bank, Vikas Puri,
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 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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4.000 |
3.500 |
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Profit/Loss for the year |
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12 % |
12 % |
Expected Sales (2007-08) : Rs.5.000 Millions
LOCAL AGENCY FURTHER INFORMATION
As Per Website
Profile
Subject is a manufacturer and exporter of high quality Transformer
Bobbins, PCB Mountable and Plastic Parts for Electronics. Incorporated
in the year 1990, they established themselves as a trusted entity engaged in
the sourcing of electronic items in
Their company is committed to source their products from quality
conscious and competent manufacturers. They are adaptable to meet the
contingencies. Their basic strength is their Business Ethics. All their
manufacturing technologies are developed in-house, by their manufacturers.
These have been time-tested over the decades. Necessary up-gradation in terms
of processes, quality control measures, analytical procedures as well as
equipments are constantly done to meet the market requirements and in some
cases to set benchmarks.
They
believe in firm commitments, maintaining quality in all their products,
high-level packaging standards, competitive prices, time bound shipment and instant
response to the demands and queries of all their customers. The satisfaction of
the clientele is the greatest reward for their honest commitment to their work.
Relying on excellent engineers and production experts, their
strong research and development force is capable of providing innovative
products to customers from across the world, so as to better fulfill their
specifications by satisfying the changing needs. Moreover, with the expansion
of international sales activities, they are advancing into an integrated market
drastically. They have already established business relationships with many
customers.
All their items like Transformer Bobbins, PCB Mountable
as well as Plastic Parts for Electronics enjoy great popularity among
consumers internationally, with their main overseas markets. They have attained
very high reputation from many overseas markets. They emphasize technical
progress, scientific management, quality control and complete customer
satisfaction as well.
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.40.96 |
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1 |
Rs.82.55 |
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Euro |
1 |
Rs.55.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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31 |
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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