MIRA
INFORM REPORT
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Report Date : |
27.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAYAM AND COMPANY |
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Registered Office : |
AA 147, 3rd Floor, Avenue. Annanagar, Chennai – 600040,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Dealers of all electrical, electronic, household consumer durables. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1000000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern in its field.
Proprietor is resourceful, experienced and respectable businessmen. His trade
relations are fair. The concern is doing well. It’s payments are correct and
as per commitments. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. S. Jayaprakash |
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Designation : |
Proprietor |
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Date : |
19.06.2008 |
LOCATIONS
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Registered Office : |
AA 147, 3rd Floor, Avenue. Annanagar, Chennai – 600040,
Tamilnadu, India |
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Tel. No.: |
91-44-2611310 |
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Fax No.: |
91-44-2611310 |
SOLE PROPRIETOR
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Name : |
Mr. S. Jayaprakash |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Dealers of all electrical, electronic, household consumer durables. |
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Products : |
v Televisions v Refrigerators v Airconditioners v Electronic Sound
Systems v Radios And Other
Audio Equipment v Mixers,
Grinders, Household Appliances v Clocks, Digital Time
Pieces, Watches And Other Fancy Goods v Suitcases Boxes,
Soft And Hard Luggages v DVD Players, CD
Players v Video Recorders,
Video Equipment v Plasma
Televisions v
All Types Of Electrical Appliances Like Geysers, Immersion Rods,
Toasters v Microwave
Appliances v All Types Of
Light Fixtures And Electrical Fittings v Washing Machines v Fans Of All
Types v Ovens, Gas
Stoves v Pressure Cookers
And Pans Of All Types v Non Stick
Cookware v Flasks And Large
Water Storage Equipments, Water Purifiers v Plastic Chairs And
Other Light Furniture v Wooden Racks An
Storage Asthetic Racks v All Household
Durables |
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Exports : |
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Products : |
All electronic items |
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Countries : |
Korea, China and Taiwan. |
GENERAL
INFORMATION
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Customers : |
v Philips v Air Con v LG v ELGI v Samsung v Godrej v Whirlpool v Sony v National v Panasonic v Siemens v Onida v JVG v Sanyo v Toshiba v BPL |
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No. of Employees : |
200 |
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Bankers : |
v State Bank of
India v ICICI Bank v HDFC Bank v Axis Bank |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 200.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 200.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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500.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile:-
This is a proprietorship firm. There are one
of the big consumer goods retailers. A HR consultant and public relations professional
Mr. S. Jayaprakash owns the firm. It is over 20 years old. People of Chennai
have three or four major electronics and durables dealers in the city. One of
them is a giat – Ms Vivek and Company, then comes Jainsons, Chellamani, Vasanth
and Company and lat but not least Jayam and Company. They have 4 outlets in the
city.
v Anna Nagar
v Velacherry
v Ambattur
v Perungudi
Recently they have started the business of
giving VSNL internet connection for Anna Nagar Area. This foray is very recent
and shows Mr. Jayaprakash’s will be diversify and also his tech savy nature. A
lot of companies have now started broadband connections in Chenna, but VSNL has
the best connectivity due to the fact it is partly owned by the Government.
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.42.73 |
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UK Pound |
1 |
Rs.84.38 |
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Euro |
1 |
Rs.66.97 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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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60 |
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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