MIRA
INFORM REPORT
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Report Date : |
08.09.2007 |
IDENTIFICATION DETAILS
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Name : |
J M BAXI AND COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1918 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ00698F |
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PAN No.: [Permanent
Account No.] |
AAAFJ5198E |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Subject is engaged in shipping agency and allied services. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established concern in diversified field. Available information
indicate high financial responsibility of the company. Trade relations are
fair. Payments are usually correct and as per commitments. The concern can be considered good for normal business dealings. Management remained non-cooperative and declined business and
financial details. Hence, this report is based on indirect sources of information. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-22703779 / 616451 / 2 / 3 |
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Fax No.: |
91-22-22703629 / 22663871 |
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E-Mail : |
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Website : |
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Area : |
Large |
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Location : |
Rented |
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Corporate Office : |
16, |
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Head Office: |
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Tel No.: |
91-22-22616415 |
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Other Areas : |
A/C’s And Finance Tel No.:91-22-22663871 (8 Line), 22663828 / 22663053, 22663848 Fax No.: 91-22-22654638 Stervedoring And Bulk Cargo Handling Operation Address: 25, Tel No.: 91-22-22665313 / 22663253 / 22652773 Fax No.: 91-22-22663260 E Mail: Blkcgo@Jmbaxi.Com Contact: Mr. Raghunandan V Business Development Address: Tel No.: 91-22-22703779 / 22703782 / 22659241 / 22692602 Email: Jca@Jmbaxi.Com Contact:Mr. Alexander J C Chartering Brokers Address: Tel No.: 91-22-22703631 / 22703632 Fax No.: 91-22-22695156 / 22664889 Email: Charmum@Jmbaxi.Com Contact: Capt Rahul Bhargava Clearing And Forwarding Address: 29, Tel No.: 91-22-22664227 / 22665762 / 22663543 Fax No.: 91-22-22664021 Email: Candf@Jmbaxi.Com Contact: Mr. Ramakrishnan K HR And Administration Tel No.: 91-22-225663871 Fax No.: 91-22-22634279 Email: Admn@Jmbaxo.Com International Freight Forwarding Address: 29, Tel No.: 91-22-22664227 / 22665762 / 22663543 Email: Iff@Jmbaxi.Com Contact: Mr. Shetty S R Address: Tel No.: 91-22-22045967 / 22045879 22044934 / 2285080 / 22047323 /
22876626 Fax No.: 91-22-22850302 / 22040382 Email: Rm@Jmbaxi.Com Contact: Mr. D’souza V C Offshore Division Address: 70 – A, Saravodaya Building, 2nd Floor, 70 – A,
Nehru Road, Extn, Vile Parle (East), Mumbai 400 099, Maharashtra, Tel No.: 91-22-26131111 / 26131277 / 26136652 / 26176016 Fax No.: 91-22-26116734 Email: Mummrkt@Jmbaxi.Com Contact: Mr. S Roy Outports Operations And Agency Division Address: Tel No.: 91-22-22679695 / 22679343 / 22692931 / 22663891 Fax No.: 91-22-2266892 Email: Oports@Jmbaxi.Com Contact: Mr. Seldom G V (Capt) Project Transoport Division Address: 19, Tel No.: 91-22-22660084 / 22663607 / 22661247 Fax No.: 91-22-22664888 Email: Proj@Jmbaxi.Com Contact: Mr. Narayan R / Mr. J Gulati |
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Other Offices : |
·
Ahmedabad ·
Alang ·
Alleppey ·
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Bedi Bunder ·
Belekeri ·
Beypore ·
Bharuch ·
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Bhubaneshwar ·
Budge Budge ·
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Cannunore ·
Chennai ·
Colachel ·
Cuddalore ·
Dabhol ·
Dahej ·
Ennore ·
Gopalpur ·
Holdia ·
Hazira ·
Honavar ·
Jaigad ·
Jakhau ·
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·
Kandla ·
Karwar ·
Kiranpani ·
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Kolkata ·
Kundapur (DK) ·
Magdalla ·
Malpe ·
Malvan ·
Mandvi ·
Mangalore ·
Mormugao ( ·
Mulkwarka ·
Mundra ·
Nagapattinam ·
Navlakhi ·
Neendakara ·
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Nhava Sheva ·
Okhala ·
Panjai ·
Pradip ·
Pipavav ·
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Porbandar ·
Port Blair ·
Port Redi ·
Pune ·
·
Ratnagairi ·
Rozi ·
Salaya ·
Shrivardhan ·
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Tadri ·
Tellicherry ·
Tuticorin ·
Umbharat ·
Vadinar ·
Vansiborsi ·
Verawal ·
Vijadurg ·
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Vizhinjam |
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Physical Address: |
1st floor, Manganese House, |
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Tel. No.: |
91-891-2563919 / 2563572 / 2502840 / 2569193 / 2561416 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Naresh J. Kotak |
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Designation : |
Partner |
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Date of Birth/Age : |
62 Years |
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Experience : |
32 Years |
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Name : |
Mr. Krishna P Kotak |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Experience : |
31 Years |
KEY EXECUTIVES
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Name : |
Mr. Capt. M N Patnaik |
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Designation : |
Manager |
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Name : |
Mr. N B Satya |
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Designation : |
Senior Executive |
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Name : |
Mr. V Surya Roa |
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Designation : |
Senior Executive |
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Name : |
Mr. K B Kotak |
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Designation : |
Managing director |
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Name : |
Mr. H B Daruwala |
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Designation : |
Chief Accountant |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in shipping agency and allied services. |
GENERAL INFORMATION
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Customers : |
Ø Wholesalers Ø Retailers Ø End Users Ø
Original Equipment Manufacturers |
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No. of Employees : |
600 – (Group 4000) |
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Bankers : |
Bank of Hong Kong Bank |
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Facilities : |
The concern enjoy large facilities from its’ banker |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Ø Visakha Container Terminal Private Limited Address:(76% of J. M. Baxi + 26% Tel No. 91-891-2502164 / 2502140 Fax No. 91-891-2721981 E Mail : contactus@vctpl.com Services: · Priority movement of container vessels
Ø United Liner Agencies Private Limited (100% of J. M. Baxi & Company) Established in the year 1947, has
evolved into a leading logistics service provider in Ø German Express Shipping Agencies Private Limited Ø Confreight India Private Limited Ø CMT Private Limited Ø Brinks Arya (Security Transport) Ø Arya Offshore Service Private Limited Ø Arya Communications India Private Limited |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
Annual Sales Revenue – Rs. 20000.000 millions
LOCAL AGENCY FURTHER INFORMATION
As per web
details:
Founded in 1916, subject is the largest, most efficient and
professionally managed Shipping Agency House in
The Company has a strong presence in most of its business lines and
leadership in several of the shipping support services.
The future plans are focussed on consolidating the existing activities
and developing other shipping related areas as well.
Ø A professionally
managed Company offering expert services to Shipowners, Exporters and
Importers.
Ø Quality of Service
and total commitment to their Clients and Principals.
Ø Experienced
professionals and specialists in every business activity.
Ø Over 4000
employees nationwide.
Ø Own offices at all
major and minor ports on the East and
Ø Nationwide
round-the-clock Communication Network.
Ø Comprehensive
logistics support.
Shipping Support
Services
Shipping Agency
They handle over 3500 vessels per annum at various Indian ports. These
include: Tankers (VLCC/Crude/Products), LPG, LNG & Ammonia carriers, Bulk
Cargo vessels, Container vessels, Break Bulk Liner vessels, Car carrier
vessels, Cruise vessels, Naval vessels, Dredgers, Lash vessels, Offshore &
onshore rigs, heavy lift cum submersible vessels, Supply vessels and
helicopters.
The scope of their services comprehensively covers all requirements of
the vessel. They offer services to vessels at all major and minor ports on the
east and west coasts of
Agency Services
For Cruise And Visiting Naval Ships
Armed with years of experience and expertise, their professionals and
Master Mariners are fully geared to handle all types of cruise and visiting
Naval ships at any port in
Container
Transport Management
With most of the liner cargo moving by containers, a separate cell has
been established to handle containers at all major ports. Container Freight
Stations and Inland Container Depots are equipped with their own sophisticated
equipment such as Top Lifters and Trailers.
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 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.40.71 |
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1 |
Rs.82.26 |
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Euro |
1 |
Rs.55.66 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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63 |
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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