MIRA
INFORM REPORT
|
Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JAYBEE INDUSTRIES |
|
|
|
|
Registered Office : |
5, K M Stone, Malout Road, Bathinda – 151002, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer, Suppliers and Exporter of Transformers |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Satisfactory |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern having satisfactory track
records. Trade relations are fair. Payments are usually correct as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trader’s terms and considered. |
INFORMATION PARTED
BY
|
Name : |
Mr. Pankaj Agarwal |
|
Designation : |
Executive Officer |
|
Date : |
21.11.2008 |
LOCATIONS
|
Registered Office/ Factory : |
5, K M Stone, Malout Road, Bathinda – 151002, Punjab, India |
|
Tel. No.: |
91-164-2270407 |
|
Fax No.: |
91-164-2237887/ 2270407 |
|
Mobile No.: |
91-9216332387/ 9815332387 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5500 sq. mts. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Parveen Agarwal |
|
Designation : |
Proprietor (Chief Executive Officer) |
|
Date of Birth/Age : |
58 years |
|
Qualification : |
B. Tech (Mechanical) |
|
Experience : |
30 years |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Agarwal |
|
Designation : |
Executive Officer |
|
Date of Birth/Age : |
28 years |
|
Qualification : |
B. Tech (Mechanical) |
|
Experience : |
5 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Suppliers and Exporter of Transformers |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS:
Capacity to increase production by: 35%
GENERAL
INFORMATION
|
Customers : |
-
Punjab State Electricity Board -
Maharashtra DISCOM -
Guru Nanak Dev Thermal Plant,
Bathinda -
U.P. State Electriicty -
North Eastern Railway,
Gorakhpur -
Gujarat State Electricity Board -
Ahmedabad Electricity Company
Limited -
Delhi Electric Supply Undertaking -
Indian Oil Corporation Panipat
Refinery -
Delhi Vidyut Board -
Indian Railways -
Government of Jammu and Kashmir -
Kerala State Electricity Board -
New Delhi Municipal Council -
National Thermal Power
Corporation -
Tamil Nadu Electricity Board -
The Batala Co-operative Sugar
Mills Limited, Batala -
Municipal Corporation, Power
House Amritsar -
Public Health / Electrical
Division Chandigarh Housing Board Chandigarh -
Nuclear Power Corporation -
Rajasthan State Electricity Board -
National Thermal Power Corporation -
IVRCL Hyderabad -
Medhaj Engineers Private Limited -
Medhaj Techno Concepts Private Limited -
Bharti Mobile Limited -
Piccadily Group of Industries |
|
|
|
|
Suppliers : |
Own Manufacturing |
|
|
|
|
No. of Employees : |
200 |
|
|
|
|
Bankers : |
Bathinda – 151002, Punjab, India |
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries
: |
NIL |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.20.000 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
250.000 |
220.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12% |
12% |
|
|
|
|
|
LOCAL AGENCY FURTHER
INFORMATION
Website Details:
Company Profile
Since 1981, Subject is dedicated
to the service of the power sector in India and is an authorized manufacturer
producing electrical apparatus in Power & Distribution Systems. Approved as
a Small Scale Industry, by Industries Department Punjab, an advanced unit on
Science & Technology in India and a high & new technology enterprise in
Punjab, company is the Best Grade
Qualified Enterprise of Bathinda City.
Headquartered in Bathinda, Punjab,
India and with state-of-the-art manufacturing facilities, spread over a 2-acres
campus, company produces High/Low Voltage 11/22/33/66 kV Class Distribution
Transformers, Insulated Aluminium/Copper Wires of varied sizes, Low Losses
Annealed Cores, CT & PT. The Industry Park (Workshop) covers floor space of
6800 sq. yards equipped with a world-class level advanced processing equipments
& machines. At subject out of the total workforce of 200 employees, 10
percent are engineers and technicians who have graduated from either a high
academy or are experienced workers from household electric companies, with
strong capabilities in design, research & development & with an
inspiring zeal for hard work & success. Subject keeps implementing the quality
policy : 'Science & Technology in the lead'. We were awarded the title of Recommended Unit of Good Quality Marked
Products by Punjab State Government. The company was certified as
ISO 9001:2000 Quality Assurance System
by AQSR International in the year 2006.
Ever since its inception, subject has made an impact in the electrical industry
and its products have been inspected and accepted
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|