MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
JAY INTERMEDIATES AND CHEMICALS |
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Registered Office : |
Plot No. 731, Phase IInd, 40 Sheds Area, G.I.D.C. Vapi Industrial Estate,
Vapi-396195, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year Of Establishment : |
1978 |
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PAN No.: [Permanent
Account No.] |
AFHPM2778R |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Fluoride Chemical |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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. No complaints have been heard. The concern can be considered goof for normal business dealings. |
INFORMATION PARTED BY
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Name : |
Mr. Prakash Maurya |
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Designation : |
Proprietor |
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Contact No.: |
91-9898437973 |
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Date : |
30.12.2008 |
LOCATIONS
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Registered Office/Factory : |
Plot No. 731, Phase IInd, 40 Sheds Area, G.I.D.C. Vapi Industrial
Estate, Vapi-396195, |
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Tel. No.: |
91-260-2436232/2436317 |
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Mobile No.: |
91-9898347973/9824183349/9377469880 |
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Fax No.: |
91-260-2436317 |
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E-Mail : |
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Website : |
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Area : |
3000 Sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Prakash Maurya |
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Designation : |
Proprietor |
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Address : |
New B Type, B-18/179, NR. |
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Date of Birth/Age : |
26.05.1968 |
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Qualification : |
BSc(Chem), DBA, DEM |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fluoride Chemical |
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Products : |
·
Fluorides ·
Silicofluorides ·
Cryolite ·
Fluoborates ·
Acids |
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Terms : |
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Selling : |
L/C, Credit (30 days,60 days) |
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Purchasing : |
L/C, Credit (30 days,60 days) |
GENERAL INFORMATION
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Customers : |
Retailers, End users, Merchant Exporters |
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No. of Employees : |
25 (in office-5, in factory-20) |
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Bankers : |
Bank Of Industrial Estate Branch, GIDC, Vapi, |
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Facilities : |
Credit Limit of Rs.2.500 millions |
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Sister Concern : |
Prime Chemicals Plot 313/2, 40 Sheds, GIDC, |
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Associates/Subsidiaries : |
Nil. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.747 millions |
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Borrowed : |
-- |
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Total : |
Rs.1.747 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Capital Account |
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1.747 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.747 |
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LOAN FUNDS |
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1] Secured Loans |
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1.846 |
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2] Unsecured Loans |
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0.707 |
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TOTAL BORROWING |
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2.553 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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4.300 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.006 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.113 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.037 |
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Sundry Debtors |
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2.638 |
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Cash & Bank Balances |
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0.012 |
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Other Current Assets |
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0.019 |
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Loans & Advances |
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0.070 |
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Total
Current Assets |
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4.776 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.407 |
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Provisions |
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0.188 |
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Total
Current Liabilities |
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2.595 |
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Net Current Assets |
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2.181 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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4.300 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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14.280 |
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Other Income |
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0.017 |
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Total Income |
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14.297 |
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Net Profit for the Year |
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0.723 |
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Expenditures : |
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Advertisement Expenses |
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0.017 |
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Bank Charges |
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0.031 |
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Office Expenses |
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0.016 |
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Credit Note |
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0.294 |
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Electrical Expenses |
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0.066 |
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ESIC |
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0.016 |
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General Expenses |
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0.011 |
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Salaries, Wages, Bonus, etc. |
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0.597 |
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Repairs and Maintanance |
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0.387 |
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Professional Charges |
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0.033 |
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Interest |
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0.182 |
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Insurance Expenses |
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0.050 |
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Power & Fuel |
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0.089 |
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Depreciation & Amortization |
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0.162 |
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Other Expenditure |
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9.549 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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5.05 |
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Net Profit Margin (PBT/Sales) |
(%) |
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N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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N.A. |
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Return on Investment (ROI) (PBT/Networth) |
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N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
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2.95 |
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Current Ratio (Current Asset/Current Liability) |
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1.84 |
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : N.A. |
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Excise Registration No.: AFHPM2778RXM001 |
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VAT / TIN : 24250900464 DT.19.09.205. CST NO. :
24750900464 |
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IEC Code : 5205030577 |
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PAN / TAN : AFHPM2778R |
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Bank Name : Bank Of |
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Bank Address : Industrial Estate Branch, G.I.D.C., Vapi |
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Bank A/c. No.: 02380500000006 |
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Account Since : 2005 |
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In case of any affiliations / memberships / certifications
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Name: As Mentioned
Below |
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Type : |
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Expiry Date : |
MEMBERSHIPS :
]
· Vapi Waste and Effluent Management Company Limited Vapi, Life Member
· Vapi Industries Association, Life Member.
· Common Solid Waste Disposal Project, Vapi, Life Member.
Certifications :
·
ISO 9001:2000
Certification No. :J15478.05Expiry Date : 20.10.2009
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CertificatedBy
: The National Small Industries
Corporation
Limited, Regd No. : NSIC/GP/RS/PMT/GUJ/J-100/2005-06/A
Website Details
Attached :
Profile
Subject was formerly Indian Fluorine Industries, founded in
1978 by Mr. R. D, Maurya, a pioneer in the field of FLUORIDES and the first one
to manufacture hydrofluoric Acid in
Presently the concern manufactures a wide range of products like FLUORIDES, FLUOBORATES, FLUOSILICATES, FLUOTITANATES, PHOSPHORIC ACID etc.The concern is one of the largest suppliers of Ammonium Bifluoride to ONGC Limited and are major suppliers of high grade Sodium Fluoride to the Flux industries.
Products
USE'S OF VARIOUS
FLUORIDES MANUFACTURED BY THEM
Ammonium Bi Fluoride
·
Metal Cleaning, Etching, Pickling
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Glass Cleaning, Etching, Pickling
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Monument & Building Cleaning
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Oil Well Acid zing
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Bactericide in sugar industry
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Anodizing of aluminum
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Wood Preservative
Ammonium
Fluoborate
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Flux for soldering
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Magnesium flux
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Flame retardant for plastics
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Arc quenching for Circuit Breakers
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Metallic plating
Ammonium Silico Fluoride
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Flux for soldering
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Magnesium flux
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in pesticides
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in soldering flux,
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etching glass
Barium Fluoride
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Heat Treat Salts
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High temperature lubricants
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Frit & Glass Flux
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Opacifier
Chromium
Fluoride
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Metalized. Dyes
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Dyeing and printing wool
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Light stabilizer for Polyamides
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Paint primer for steel
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Strengthening Alumina Bodies
Fluotitanic
acid
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Metal Cleaning
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Catalyst or catalyst preparation
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Aluminum finishing
Potassium
Bi Fluoride
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Component in Metal Fluxes
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Component in SilverSolder Fluxes
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Fluorine Cell electrolyte
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Reagent for introduction of Fluorine in
Organic Synthesis
Potassium
Fluoborate
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Grinding Wheel Additive
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Flame Retardant for Polyurethanes
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Oxidation Inhibitor in Magnesium
Foundries
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Grain Refiner for Aluminum
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Component in Fluxes
Potassium
Fluoride
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Flux in Metallurgy
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Flux in Silver Solder
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Organic synthesis for introduction of
Fluorine
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Catalyst for molds for dentures
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Component in Grinding Wheel
Potassium
Titanium Fluoride
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Agent for Aluminum Grain Refining
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Flame Retardant
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Removal of Magnesium in refining scrap
aluminfim
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Catalyst for molds for dentures
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Component in Grinding Wheels
Sodium
Fluoborate
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Additive in Chrome, Nickel and Cadmium Plating
Baths
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Bronzing and C urizing Steel
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Flux for Alumimum
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Flame retardant for Cotton and Rayon
Sodium
Fluoride
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As insecticide particularly for roaches
and ants
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In pesticide formulations
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Constituent in vitreous enamel and
glass mixes
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As steel degassing agent
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In electroplating
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In foundry fluxes
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In heat-treating salt compositions
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In fluoridation of drinking water
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For disinfecting fermentation apparatus
in breweries and distilleries
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Preserving wood
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Manufacture of coated paper
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Frosting glass
Sodium
Bi Fluoride
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As a "sour" in laundering
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In electroplating
Strontium
Fluoride
·
Flux Brazing
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Welding Applications
Phosphoric
Acid 40%,50%,60%
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in manufacture of super phosphates
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Process engraving
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Rust proofing metals beher paintiong
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Coagulating rubber latex
Silica
manufacture of powder
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Refractories,Abrasives,Ceramics,enamels
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De colorizing purifying oils,petroleum
products ect
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mold for casting
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lu manuf . of silico chrowates
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Rubber compounding
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.76 |
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|
1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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48 |
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 |
|
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 |
|
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 |
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