MIRA
INFORM REPORT
|
Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
J K INDUSTRIES |
|
|
|
|
Registered Office : |
93/5, Lakdi Bandar Daru Khana Reay Road, Near Britannia Biscuit, Mumbai
– 400 010, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
2005 |
|
|
|
|
IEC No.: |
0307093361 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AJVPK0717C |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Pipe Fittings |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 8000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively small concern in its field. Trade relations are
fair. Scale of activity is limited. Payments are reported as usually made as
per commitments. The concern can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Asim Khan |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9892003877 |
|
Date : |
16.10.2008 |
LOCATIONS
|
Registered Office / Factory : |
93/5, Lakdi Bandar Daru Khana Reay Road, Near Britannia Biscuit,
Mumbai – 400 010, Maharashtra, India |
|
Tel. No.: |
91-22-23747715 |
|
Mobile No.: |
91-9892003877 (Mr. Asim Khan) |
|
Fax No.: |
91-22-23747716 |
|
E-Mail : |
|
|
Area : |
1700 Sq.fts (400 Sq.fts Office Area + 1300 Factory) |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Asim Khan |
|
Designation : |
Proprietor |
|
Age : |
27 years |
|
Qualification : |
B. Com, Diploma in Foreign Trade |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pipe Fittings |
|
|
|
|
Products : |
· Ms Flanges · Ms Pipe Fittings · Engineering Goods
· Alloy Steel · Nickel Alloys · Steel Scrap · Sugar Mill Spare Parts · Fittings |
|
|
|
|
Exports : |
Subject will start export in Current Year |
|
Countries : |
Middle East |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30-120 days) |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailers, End users |
|
|
|
|
No. of Employees : |
14 |
|
|
|
|
Bankers : |
· HDFc bank Limited, Mumbai Central Branch, Mumbai - 400 008, Maharashtra, India · Central Bank of India, Mumbai Central, Mumbai - 400 008, Maharashtra, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Kauneen Ali Ahmed and associates Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.500 millions (Estimated) |
|
Borrowed : |
--- |
|
Total : |
Rs. 1.500 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
8.000 |
Expected Sales (2008-09): Rs.9.000 millions
LOCAL AGENCY
FURTHER INFORMATION
|
Additional
Requirement of Indiamart for Trust-Seal |
|
|
|
VAT / TIN : 27570337631V |
|
IEC Code : 0307093361 |
|
|
|
PAN / TAN : AJVPK0717C |
|
|
|
Bank Name : Central Bank of India |
|
Bank Address : Mumbai Central Branch |
|
Bank A/c. No.: 1026993875 |
|
Account Since : 3 years |
TRADE REFERENCES:-
· Paras Engineering Works, Mumbai, Maharashtra, India
· Britex Engineering Works, Mumbai, Maharashtra, India
WEBSITE DETAILS:-
Concern Profile:-
Established in the
year 2005, subject is one of the leading manufacturers and exporters of a wide
range of plate and forged flanges. Besides this, they are also amongst the
largest merchant traders of pipe, pipe fittings, valves and other engineering
goods. With their own warehouse, they are in a position to offer ready stock
for immediate and bulk orders of plate's flanges and other engineering goods at
the shortest lead time.
In order to face the challenges of today’s fiercely competitive market, they
keep their selves updated to offer latest products with higher levels of
efficiency and reliable services. Even their rates are very reasonable.
Their most valuable asset is their reputation, which develops trust and loyalty
among the customers, stakeholders and employees. In the safeguard of this
reputation, they consistently work hard with all their efficiency to perform
best, each time.
Excellence
They always follow ethical
business practices in a superior manner while striving for continuous
improvements.
Products
They offer a MS
flanges, MS pipe fittings, engineering goods, scrap, pipes and pipe fittings.
They keep big stocks of plate's flanges as well as A-105 flanges ready for
immediate dispatch. All the above mentioned product profile is available in
both ferrous and non-ferrous metals. Offered in various dimensional sizes,
their products are available in both industry standard specifications and
customized specifications. They offer MS, SS, forged carbon steel and alloy
steel flanges as per following specifications:
· ANSI B16.5
· ANSI B16.47
· B.S.-10
· B.S.-4504
· DIN
· IS: 6392
· API 590
· AWWA
Industries They Serve
Their range of
flanges and engineering products is used in various engineering and industrial
operations. All these products are offered in various specifications to suit
the specific requirements of different industries. They are currently dealing
with almost all reputed companies for following industries:
· Petrochemicals
· Fertilizers
· Pharmaceuticals
· Off shores
· Sugar and Cement
· Pump
· Water Treatment Effluent Plants
Quality Policy
"They are
committed to satisfy their customers by delivering premium quality products in most
effective manner and within scheduled time-period. They are committed for
continual upgradation of Quality Management System and for the improvement in
their processes, quality, sales and delivery."
Quality Assurance
They are committed to furnish superior quality products. For this, they follow a comprehensive work plans to ensure effective quality management. Following stringent quality control methodologies, each production or procurement stage is extensive reviewed and monitored. Their quality control process is followed as per the following flowchart:
· Analysis for chemical and physical attributes of the raw materials
· Heat treatment and solution annealing
· Vibration test and Tensile test
· Marking
· Final inspection
· Acceptance of materials for dispatch
Infrastructure
They have
state-of-the-art infrastructure facility, which comprises of various integrated
facilities for production, quality testing, storage and distribution. Their
profound infrastructure enables them to ensure effective operations for processing
of entire consignment orders within the stipulated time. All these facilities
are based in Mumbai, Maharashtra, India. Their in-house machining capacity has
up to 2100mm OD, which assists them in supplying Body Flanges and Tube Sheet
Blank in different specifications.
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.48.43 |
|
UK Pound |
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.65.91 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
32 |
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 |
|