MIRA INFORM REPORT

 

 

 

Report Date :

19.06.2008

 

IDENTIFICATION DETAILS

 

Name :

JANANI ENTERPRISES

 

 

Registered Office :

59, Variety Hall Road, Coimbatore – 641001, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

2003

 

 

IEC No.:

3208002688

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturers, Exporter and Suppliers of Cooling Towers.

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed concern meeting its normal commitments timeously. Trade relations are fair.

 

The concern can be considered good for business dealings.

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. K. Vijaykumar

Designation :

Proprietor

Contact No.:

91-422-4356948

Date :

07.06.2008

 

 

LOCATIONS

 

Registered Office/ Factory :

59, Variety Hall Road, Coimbatore – 641001, Tamilnadu, India

Tel. No.:

91-422-4358151/4356948

Mobile No.:

91-9840025243/ 9841645951

Fax No.:

91-422-4356948

E-Mail :

vijaycbe61@yahoo.com

vijaycbe61@airtelmail.in

vijaycbe61@airtelbroadband.in

 

 

SOLE PROPRIETOR

 

Name :

Mr. K. Vijaykumar

Designation :

Proprietor

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers, Exporter and Suppliers of Cooling Towers.

 

 

Products :

 

 

Exports :

 

Products :

Cooling Towers

Countries :
  • Dubai
  • South Africa
  • Tanazania
  • Sri Lanka
  • China

 

 

GENERAL INFORMATION

 

Customers :
  • Brakes India Limited(TVS Group)
  • Faiveley Transports (Hosur)
  • Appollo Hospitals, Chennai
  • TVS Auto Lec, Chennai
  • TVS Rubber Factory, Madurai
  • Foods And Fats Fertilizers Limited, West Godhavari
  • All India Radio, Coimbatore
  • TPPL, Tanzania(South Africa)
  • ISRO Sri-Harikotta
  • Global Pharmatech, Hosur
  • Rane Engine Valves, Chennai
  • EID Parry (India) Limited, Perundurai(Chennai)
  • Hi-Fasn Leather Products, Chennai
  • Sri Nidhi Fabrics Private Limited,Perundurai
  • Eveready Industries
  • Siemens
  • Asian Paints
  • LG Electronics
  • Pepsico India
  • Indian Navy
  • Indian Oil Corporation
  • INOX
  • Nicholas Piramal

 

 

No. of Employees :

20

 

 

Bankers :
  • Federal Bank Limited

Variety Hall Road, Coimbatore – 641001, India

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

Not Available

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Available

Borrowed :

Not Available

Total :

Not Available

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

9.000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRUSTSEAL ACCEPTANCE CHART                                  

 

 

Parameters

Details

 

 

Existence Verification

 

Name

Janani Enterprises

Address

59, Variety Hall Road, Coimbatore – 641001, Tamilnadu, India

Phone/ Mobile Numbers

91-422-4358151/4356948 /9840025243/ 9841645951

Fax Numbers

91-422-4356948

 

 

Statutory Approvals

 

Legal Status of Firm

Proprietorship Firm

Central Sales Tax Registration

628921

State Sales Tax Registration

1901219

VAT/ TIN Registration

33221901219

Excise Registration

-

Import Export Code

3208002688

Name of Bank

Federal Bank Limited, Mangadu Branch, Chennai

Current Account Number

-

 

 

Credibility Factors

 

IndiaMART Client Since

-

Years of Establishment

2004

 

 

Trade Affiliations

 

SSI Registration

YES

Export Promotion Council

YES

 

 

Standards & Certifications

NO

 

 

Profile:

 

Incepted in 2003, Subject is a reputed concern involved in manufacturing and exporting all types of Cooling Towers from 10TR to 1000TR including FRP, Wooden, Dry, Fanless and Fillless Cooling Towers. We are also involved in fabricating Chillers ranging from 1TR to 750TR (Both Air and Water Cooled Chillers). Their organization also undertakes production of Water Treatment Chemicals and Descaling Operations. Further, they are undertaking the project of Centralized AC, Humidification Plants, Ventilations and Refrigerations.


Under the guidance and leadership of our mentor Mr. K. Vijayakumar, who is an engineer and has previously worked with M/s. Enviro Clean Systems Limited, Hyderabad for more than 9 years, where Cooling Towers are manufactured ranging 10TR to 5100 M3/hr. and executed 5100cu.m/hr. cooling tower projects at Siscol Mettur and 1000cu.m/hr. cooling tower project at TNPL Kakitha Puram. With this experience, he has started manufacturing Cooling Towers.


They have set up this organization with the sole objective of achieving a world wide name for their organization both quality wise and service wise. Their aim is to help the society and the nation at large with their technologically advanced products.

 

 

 

Future Plans:


In order to make their dreams turn into a reality they technologically upgrade their production process and plan to reduce evaporation loss of water by 60% from the present situation.

 

Infrastructure:

 

They have a spacious production unit which is spread in an area of 3000 sq. ft at Ganapathy, Coimbatore and at Chennai Porur. Their infrastructural set up includes sophisticated machines which are highly efficient and can manufacture products according to the required technical specifications. They constantly invest in the technological upgradation to remain abreast of latest market trends. They have installed machines like lathe, milling, shaping, moulding, grinding, drilling, cutting, welding and casting.


All their products are manufactured with the coordination of 4 basic departments like Procurement, Manufacturing, Storage and Packaging so that the most desired product can be provided a concrete shape. They have also installed various safety devices for safeguarding the life of their workforce working in their manufacturing unit. Various fire alarms are fitted within the unit to prevent any mishap.

 

 

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.90

UK Pound

1

Rs.83.74

Euro

1

Rs.66.46

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--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

 

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

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions