MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
JYOTI ENGINEERING |
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Registered Office : |
682, MIDC, Rabale Thane, Belapur Road, Navi Mumbai – 400 701,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Date of Incorporation : |
01.01.2004 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
Mumj12165g |
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PAN No.: [Permanent
Account No.] |
AALFM1018P |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturing of
Filtration System and Process Equipments. |
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 6000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern having satisfactory track.
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. Arun Nadar |
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Designation : |
Account Manager |
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Date : |
18.10.2008 |
LOCATIONS
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Registered Office / Factory : |
682, MIDC, Rabale Thane, Belapur Road, Navi Mumbai – 400 701,
Maharashtra, India |
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Tel. No.: |
91-22-27605733 / 27692873 |
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Mobile No.: |
91-9930913871 (Mr. N Swaminathan) / 9323896970 / 9323813871 |
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Fax No.: |
91-22-27642181 |
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E-Mail : |
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Website : |
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Area : |
600 per mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. N Swaminathan |
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Designation : |
Partner |
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Date of Birth/Age : |
34 years |
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Qualification : |
HSC |
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Name : |
Mr. Jai Laxmi |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
B. Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Filtration System and Process Equipments. |
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Products : |
·
Pressure Leaf Filters ·
Horizontal Leaf Filters ·
Rotary Vacuum Drum Filter · Self Clearing Filters ·
Sulphur Filter ·
Pharmaceutical Filters ·
Filter Leaf ·
Rotary Drum Flakers ·
Industrial Reactor ·
Rotary Drum Dryers |
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Exports : |
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Products : |
Various Filters |
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Countries : |
Australia |
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Terms : |
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Selling : |
Advance 30% |
GENERAL
INFORMATION
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No. of Employees : |
26 (6 in Office and 20 in Factory) |
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Bankers : |
Corporation Bank, Airoli, Navi Mumbai-400 708, Maharashtra, India |
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Facilities : |
The concern do not enjoy facility from its bankers |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K Doddav and associates Chartered Accountants |
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Address : |
Thane, Maharashtra, India |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
Rs. 0.009 million |
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Total : |
Rs. 1.009 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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10.100 |
Expected Sales (2008-09): Rs. 20.000 millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27130350192 |
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IEC Code : 0306070693 |
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PAN / TAN : AALAM1018P |
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Bank Name : Corporation bank
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Bank A/c. No.: CBCA /01/4000006 |
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Account Since : 6 years |
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In case of any certifications
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Name : ISO Certificate No. 5201 (From B M Trada and R
Kabra Certification Private Limited) |
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Type : 9001 : 2000 |
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Expiry Date :
22.08.2009 |
TRADE REFERENCES:-
· Ankur Metal Industries, Mumbai, Maharashtra
· Akshay Traders, Mumbai, Maharashtra
WEBSITE DETAILS:-
Concern Profile
Established in the year 1995,
they are a customer centric firm engaged in manufacturing and supplying solutions
of filtration system and process equipments. They have complete exclusive setup
for the fabrication of SS Metallic
Filler Leafs for all services. Their vast range includes plf (vertical), horizontal leaf filters, filter
leaf, rotary self clearing filters, sulphur filter, rvdf, high tech sparkler pharma filters, rotary drum flakers,
deodoriser, chemical clearing system npcl,
reactor and rotary drum dryers.
These products have a high demand throughout the industry, as a proof, they
already supplied more than 300 PLFs, HLFs and Pharma Filters in last working
and more than 14000 Sq. Mtr. of SS Leafs. Out of these 60% are for the edible
oil industries. All their achievements have been possible because of the
excellent manpower and latest technology, they have.
Product Profile
They are one of the
most suggested names in providing utmost satisfaction to their clients by
providing design, fabrication, supply, erection and commissioning of all kinds
of separation equipments and other process vessels.
· PLFs - Pressure Leaf Filters
· HLFs - Horizontal Leaf Filters - Hydraulic Auto Wedge Locking System / Manual Operating(Eye Bolts).
· High Tech Sparkler Filters, used in Pharma, Fine chemicals etc.
·
RVDF - Rotary Vacuum Drum Filters - for separation of
high % of Solids on continuous basis.
Self Cleaning Rotary Filters.
· Process Equipments, Pressure Vessels, Reactors, Heat Exchanger, Storage tank etc.
Appreciated by all their clients as they comprise the following
characteristics:
· Durable
· Easy in operating
· Safe and reliable operation
· Noticeable cost effective
· Can easily sustain any damages
· Resistant to rust and temperature variations
Quality
Compliance
They assure that
their products are in conformation with the international standards and are
offered at industry leading prices. Their strong team of quality works as a
back up for them as they keep stringent checks at every stage of manufacturing
so as to avoid all loopholes. Their large and comprehensive infrastructure
enables them to meet the challenging market demands in short span of period.
They are well facilitated with all kinds of testing facilities and quality
measures that help them in confirming the quality of their product. It is their
quality that has made them a suggested name to work with. Their strong quality
compliance and optimum manufacturing facilities have made them a preferred
producer in the market.
Manufacturing
Facility
They are equipped
with all sorts of latest machinery and technology with the help of which they
are able to deliver reliable and accurate products. Their widespread production
unit with modern tools and equipment have resulted in supplying more than 300
PLFs, HLFs and Pharma Filters in last working years and more than 14000 Sq.
Mtr. of SS Leafs. Out of these 60% are for the edible oil industries. They
assure that their products are absolutely defect free and are offered keeping
in mind the specifications given by the client. Their picture perfect
production facilities go equally well with their excellent team of
professionals.
Team and
Management
Their concern
completely relies on their team as they comprise highly qualified and
experienced professionals. From administration and management personnels,
technical engineers to R and D professionals, they are equipped with all needed
people. Their team at every point maintains a strong strategy in pursuing well
coordinated production. With such united perception, they are able function
more properly than others.
Industries They
Serve
It is their
privilege to serve a host of industries who have really appreciated their
products and are using their products extensively. Some of the industries who are regularly using their products are:
· Chemicals
· Glucose
· Starch
· Fine Chemicals
· Sulphur
· Fertilizers
· Food
· Pharma and many more
Positive Points
· Highly cost effective
· Ergonomically designed products
· Certified with ISO 9000:2001
· Supplied more than 300 PLFs, HLFs and Pharma Filters in last working years and more than 14000 Sq. Mtr. of SS Leafs
· Provision of completely customized solutions
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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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 |
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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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
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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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