MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJ LAXMI INDUSTRIES |
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Registered Office : |
C-2/98, GIDC, Shankar Tekri, Udyognagar, Jamnagar – 361004, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Components and Brass |
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 10000 |
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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 proprietary concern. 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 conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Jeetu |
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Designation : |
Accountant |
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Contact No.: |
91-9824207088 |
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Date : |
21.08.2008 |
LOCATIONS
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Registered Office : |
C-2/98, GIDC, Shankar Tekri, Udyognagar, Jamnagar – 361004, Gujarat |
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Tel. No.: |
91-288-2560001 |
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Mobile No.: |
91-9328102299/9328281211 |
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E-Mail : |
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Website : |
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Area : |
3600 Sq. ft |
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Location : |
Rented |
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Factory 1 : |
Raj Plartic Produt, C2 94 Industrial Area, GIDC, Jamnagar |
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Mobile No.: |
91-982429991 |
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Area : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Bijal R Gada |
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Designation : |
Proprietor |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B. Com |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Components and Brass |
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Exports : |
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Products : |
Brass Components |
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Countries : |
Germany, Malaysia, Singapore and Brazil |
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Terms : |
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Selling : |
L/C, Cash and Credit (Depend on Customer) |
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Purchasing : |
L/C and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
(Office – 2 + Factory – 8) = 10 |
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Bankers : |
ICICI Bank Limited, Jamnagar, Gujarat |
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Facilities : |
The concern do not enjoy facility from its bankers |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M P Maru and Company Chartered Accountant |
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Mobile No.: |
91-9824214145 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008
(Estimated) |
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Sales Turnover |
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40.000 |
Expected Sales (2008-09) : Rs. 45.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
- Saheb
Electricals, Gurgaon, Noida
- HPL, Noida
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
RAJ LAXMI INDUSTRIES |
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Address |
C-2/98, GIDC, Shankar Tekri, Udyognagar, Jamnagar – 361004, Gujarat |
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Phone/ Mobile Numbers |
91-288-2560001 |
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Statutory Approvals |
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Legal Status of Firm |
Sole Proprietory Concern |
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Income Tax Registration |
ABNDG0704C |
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VAT/ TIN Registration |
24100105329 |
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Import Export Code |
2403004839IEC |
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Name of Bank |
ICICI Bank Limited, Jamnagar, Gujarat |
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Current Account Number |
020505000124 |
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Trade Affiliations |
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SSI Registration |
041006070 |
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Standards & Certifications |
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Quality Management Systems |
90001-2000 26.10.2007 TO 25.10.2010 |
As per Website
Details
Profile
Subject is incepted in 1970, with the aim offering comprehensive range of
quality brass fittings, components & parts. Their range includes brass
neutral links, brass fuse parts, brass pins and socket parts, brass switch gear
parts, energy meter parts, brass PCB terminals, brass turning parts, brass
sanitary parts, brass nuts, brass bolts, brass inserts and telecommunication
items.
Quality assurance is of prime importance to their organization. Therefore only
superior quality products are manufactured in accordance with international
standards and specifications by adopting latest technology. They are empowered
with modern manufacturing unit that enables them to offer tailor made solutions
that are the hallmark of their company.
Catering to
Diverse Industries
With their extensive range of brass products like brass turning parts,
brass sanitary parts, brass nuts, brass bolts, brass inserts, they are
successfully cater to diverse industries like:
Electrical Industry
Electronic Industry
Instrumentation Industry
Automobile Industry
Assured Quality
Taking into consideration the quality standards in their extensive range
of products, they follow ISO standards to manufacture quality brass products
that meet the global demand. Right from products designing to developments
stage, they lay immense emphasis to minutest detail at entire production stage.
Hence it enabled them to live up to a reputation of delivering quality products
on schedule
Infrastructural
Facility
They are well equipped with
state-of-the-art-manufacturing unit. Their production unit also comprises of
specialized testing divisions and research and development division. These
specialised division enable them to manufacture high precision products that
meet the challenging requirements of diversified industry. Besides, their
infrastructural facility enablesthem to offer spectrum of products as per the
specifications laid by their customers.
Furthermore, they are also assisted by team of engineers, technocrats and
skilled labour who have years of experience in this industry.
R & D Division
They are backed by specialized research and development division that is
equipped with latest tools and equipment. The R&D team keeps themselves
abreast with the upcoming latest technological innovations. Before the
commencement of production process, their researchers undertake extensive
research so as to understand the varied requirements and preferences of the
industry. of the marketplace.
Dynamic Workforce
Their technically sound and dexterous team of experts in their quality
control department are capable enough to rule out any possibility of defect or
shortcomings in the quality of the product. In order to deliver quality
precisions products , they also take outside help for inspecting various
equipment, measuring instrument and other components. From product designing to
development stage, their quality control supervisors exercise strict vigil at
every production stage. The experienced and skilled workforce is efficient
enough to bring out exactitude in the production as per the sample provided by
the clients.
Customer
Satisfactions
Offering high precision brass products and thereby satisfying their
customers has always been their prime business objective. Their wide array of
products is offered at market leading prices within the stipulated time frame.
Their firm devotes cent -percent time and energy for fulfilling varied demand
and orders of their customers that are spread all over the globe. All these
attributes make their organisation trustworthy in the competitive marketplace
Clients
Customer’s requirement is extremely important to the organization. With
their voluminous production capacity, they can fulfill the requirements of
varied industries with their wide range of items within short period. Hence,
great emphasis is put on the standard and quality for total customer
satisfaction. With their high precision quality products, they are catering to
the large market of UK, USA, Australia, New Zealand, Germany and UAE
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 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.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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 |
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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