MIRA
INFORM REPORT
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Report Date : |
12.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
JIT AUTO CAMP |
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Registered Office : |
E-21A, Sidco Industrial Estate, Phase – 6, Sipcot, Hosur – 635126,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer, Exporter and Importers of Press Tools,
Pressed / Stamping, Press Components and Fabricated Assemblies for various
automobiles, electronic and electrical industries |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as 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/ Factory : |
E-21A, Sidco Industrial Estate, Phase – 6, Sipcot, Hosur – 635126,
Tamilnadu, India |
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Tel. No.: |
91-4344-277697 |
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Mobile No.: |
91-9443327769 |
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Fax No.: |
91-4344-400697 |
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E-Mail : |
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Area : |
6000 sq. ft |
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Locations : |
Rented |
PARTNERS
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Name : |
Mr. K Velmurugan |
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Designation : |
Partner |
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Date of Birth/Age : |
33 years |
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Qualification : |
Graduate |
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Experience : |
5 years |
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Name : |
Mr. C Babu |
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Designation : |
Partner |
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Date of Birth/Age : |
34 years |
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Qualification : |
Graduate |
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Experience : |
8 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importers of Press Tools,
Pressed / Stamping, Press Components and Fabricated Assemblies for various
automobiles, electronic and electrical industries |
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Products : |
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Exports : |
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Products : |
Pressed Metal Components |
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Countries : |
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Imports : |
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Products : |
Metal Sheet |
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Countries : |
China |
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PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Fabricated Sheet Metal Components |
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8 tonnes |
8 tonnes |
GENERAL
INFORMATION
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No. of Employees : |
60 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Muthukalai Chartered Accountant |
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Address : |
Hosur |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 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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30.000 |
25.000 |
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Profit/Loss for the year |
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11% |
12% |
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LOCAL AGENCY
FURTHER INFORMATION
Business:
Subject is one of the most prominent Manufacturer, Exporter
and Importers of Press Tools, Pressed / Stamping, Press Components and
Fabricated Assemblies for various automobiles, electronic and electrical
industries. Their deep commitment to quality has resulted in their concern
being awarded the ISO: 9001:2000 certifications by M/s TUV Rhineland (India)
Private Limited. The Concern continues to pioneer new ideas with products of exceptional
quality and lasting value. They have an extensive market base both in the
Indian and international market. Their Company has experience and expertise to
provide genuine and consistent quality product to their customers.
To achieve customer satisfaction and ensure top-notch
quality, their production unit has been a front runner in adopting a concerted
programme on Total Quality Management. For ensuring the highest quality, they
have installed sophisticated test systems backed by an excellent Inspection
Procedure from raw material to finished products. Due to the experience of
manufacturing for over decades, Subject has acquired tremendous technical
skills and specialization in this field. Innovation, flexibility, performance
and versatility are the key areas of focus in the design and development of
their products
Subject is committed to total performance by implementing
strict quality control measures which ensure the delivery of fault-free
products from the production process. They have a team of specialized
professionals who bring in their experience and expertise to the production
process.
The concern endeavors to meet the varied customers needs and
requirements through its innovative products. The concern ensures that the
products are made from the best raw materials
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.39.94 |
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UK Pound |
1 |
Rs.78.81 |
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Euro |
1 |
Rs.63.05 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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 |
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 |
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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