MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
JUGALDAS DAMODAR MODY COMPANY |
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Registered Office : |
‘Saurabh’, Ground Floor, Mody Estates, L B S Marg, Chirag Nagar,
Ghatkopar (West), Mumbai – 400 086, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2008(Estimated) |
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Year of Establishment : |
1939 |
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IEC No.: |
0388114827 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ09849A |
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PAN No.: [Permanent
Account No.] |
AAAFJ0973H |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of School Stationery Items and Stainless
Steel House Hold Products etc. |
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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The concern was originally started by Mr. Paresh Mody’s father in
1939. However, after Mr. Mody’s death, Mr. Paresh took over the business
since last 3 years and hence there is very low turnover. This information was
confirmed by Mr. Paresh Mody, partner
of the concern. Subject is an old established 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. Paresh Mody |
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Designation : |
Partner |
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Contact No.: |
Mobile no.91-9920826222 |
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Date : |
07.07.2008 |
LOCATIONS
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Registered Office : |
‘Saurabh’, Ground Floor, Mody Estates, L B S Marg, Chirag Nagar, Ghatkopar
(West), Mumbai – 400 086, Maharashtra, India. |
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Tel. No.: |
91-22-40194490 |
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Mobile No.: |
91-9920826222 |
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Fax No.: |
91-22-40194418 |
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E-Mail : |
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Website : |
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Area : |
1150 sq.ft. |
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Location : |
Owned |
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Branch : |
At Majid Bandar, Mumbai |
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Area : |
450 sq.ft. |
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Location : |
Owned |
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Factory : |
At Pune |
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Area : |
3000 sq.ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Paresh Mody |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B Com |
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Name : |
Mrs. Kailash Mody |
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Designation : |
Partner |
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Date of Birth/Age : |
72 Years |
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Qualification : |
S S C |
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Name : |
Mr. Vinu Bhai Mody |
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Designation : |
Partner |
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Date of Birth/Age : |
69 Years |
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Qualification : |
B A C |
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Name : |
Mr. Hitesh Mody |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B.E , Electrical |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of School Stationery Items and Stainless
Steel House Hold Products etc. |
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Products : |
Stationery · Exercise
Notebook · Ruled Notebooks · Wooden Pencils · Polymer Pencils · Aluminium
Sharpner · Plastic Sharpner · Non Dust Eraser Bathroom
Accessories · Tooth Brush
Holder · Soap Holder · Tooth Paste
Holder · Liquid Soap
Bottles Stainless Steel
Kitchen Ware · Belly Jugs · Bowl HMHDPE Products · Plastic Cans · Plastic Drums · Barrels |
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Exports : |
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Products : |
School Stationery Products and Stainless Steel House Hold Products |
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Countries : |
South America, Srilanka, African Countries |
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Terms : |
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Selling : |
L/C, TT and Advance, Credit at sight |
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Purchasing : |
Credit at sight,
TT |
GENERAL
INFORMATION
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Customers : |
Wholesalers, End Users |
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No. of Employees : |
18 |
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Bankers : |
· Bank of Baroda · Corporation Bank · Jankalyan
Sahakari Bank All 3 Bank Branches at
Ghatkopar (West), Mumbai – 400 086. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mrs. Anjana Thakkar Chartered Accountants |
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Address : |
Ghatkopar (West), Mumbai. |
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Associates/Subsidiaries : |
· Paresh and
Company Address: ‘Saurabh’, Ground Floor, Mody Estates, L B S Marg, Chirag
Nagar, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India. Line of Business: Investment Company · Jay Somnath
Enterprises Address: ‘Saurabh’, Ground Floor, Mody Estates, L B S Marg, Chirag
Nagar, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India. Line of Business: Investment Company · Stewarts
Laboratories Address: Mumbai Line of Business: Manufacturing Inks |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008
(Approximately) |
31.03.2007
(Approximately) |
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Sales Turnover |
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Above 4.500 |
4.500 |
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LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
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Parameters |
Detail |
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Existence
Verification |
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Name |
JUGALDAS DAMODAR MODY COMPANY |
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Address |
‘Saurabh’, Ground Floor, Mody Estates, L B S Marg, Chirag Nagar, Ghatkopar
(West), Mumbai – 400 086, Maharashtra, India. |
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Phone/Mobile
Numbers |
91-22-25121069 |
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Statutory
Approvals |
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Legal Status of
Firm |
Partnership Firm Registered under Indian
Partnership Act 1932 |
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Income Tax
Registration |
AAAFJ0973H |
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Central Sales
Tax Registration |
400009/C/1179 |
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State Sales Tax
Registration |
400009/V/0267 |
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VAT/ TIN
Registration |
27090396386V |
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Import Export
Code |
0388114827 |
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Name Of the Bank |
Janakalyan Sahakari Bank |
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Current Account Number |
2322 |
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Account Since |
10 Years |
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Credibility
Factors |
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India Mart
Client Since |
5 Years |
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Year of
Establishment |
1939 |
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Trade
Affiliations |
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SSI Registration
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NO |
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Export Promotion
Council |
YES |
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Chamber of Commerce
Membership |
NO |
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Standards and
Certifications |
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Quality
Management Systems |
NO |
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Environment
Management Systems |
NO |
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Safety
Certificates |
NO |
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Product
Certificates |
NO |
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Other
Certificates |
NO |
TRADE REFERNCES:
· Celian Enterprises – Srilanka
· Micro Solutions – Mumbai
· Gifts 2 U - Mumbai
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.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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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 |
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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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 |
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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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