MIRA
INFORM REPORT
|
Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JWALA ENGINEERING COMPANY |
|
|
|
|
Registered Office : |
6, Madhu Patel Estate, Off I. B. Patel Road, Goregaon
(East), Mumbai - 400 063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
1994 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ06830F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADPP2994H |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Equipments for the Fruits and Vegetables
Processing, Packaging and Material Handling |
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 |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Name : |
Mr. Rahul Paharia (Son of Proprietor) |
|
Contact No.: |
91-9820197764 |
|
Date : |
23.08.2008 |
LOCATIONS
|
Registered Office / Factory : |
6, Madhu Patel Estate, Off I. B. Patel Road, Goregaon
(East), Mumbai - 400 063, Maharashtra, India |
|
Tel. No.: |
91-22-65703038 / 65702548 |
|
Mobile No.: |
91-9820197764 (Mr. Rahul Paharia) |
|
Fax No.: |
91-22-26862622 |
|
E-Mail : |
|
|
Websites : |
|
|
Area : |
1200 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Branches : |
Unit No. 3, P M Industrial Estate, Gold Print Compound, I B Patel
Road, Goregaon (East) Mumbai - 400 063, Maharashtra, India |
|
Area : |
1200 Sq.fts |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Vimal Paharia |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
54 years |
|
Qualification : |
B E Mechanical |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Equipments for the Fruits and Vegetables
Processing, Packaging and Material Handling |
|
|
|
|
Exports : |
|
|
Countries : |
Tanzania, Kenya |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C, Credit |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
20 (2 in Office, 8 in Factory and 10 in Branch) |
|
|
|
|
Bankers : |
Bank of Baroda, Goregaon (East), Mumbai - 400 063, Maharashtra, India |
|
|
|
|
Facilities : |
The concern do not enjoy facility from its bank. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Sujal Desai and Company Chartered Accountants |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.000 million (Estimated) |
|
Borrowed : |
--- |
|
Total : |
Rs. 1.000 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
14.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Detail |
|
Existence Verification |
|
|
Name |
JWALA ENGINEERING COMPANY |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Proprietorship Firm |
|
VAT / TIN Registration |
27330042980v |
|
Name of Bank |
Bank of Baroda |
|
Current account Number |
17580200000270 |
|
Account Since |
5 years |
TRADE REFERENCES:-
· Pagro Foods Limited
· Allana and Son Limited
WEBSITE DETAILS:-
Concern Profile:-
The concern is a fully integrated engineering concern governed by
eminent personalities in the field of technology and management. They
manufacture a wide range of equipments for the Fruits and Vegetables
Processing, Packaging and Material Handling. They also undertake turnkey
projects to set up complete plants for fruits and vegetable processing like
Mangoes, Guavas, Tomatoes, Peas, Mushrooms, Papaya etc.
Corporate Mission
"To achieve complete customer satisfaction by providing high
quality equipment and services to meet the needs of the customers "subject
is a concern with customer satisfaction as its prime objective. They believe
that to maintain their success, they must always exceed their customer''s
expectations and they are dedicated to achieving this. Their experience
provides clients with an undivided guarantee on the workmanship and performance
of their equipments and products. This is reflected in the highly satisfied
customers and the appreciation shown by them for their products. 
Business
Manufacture and
install:
· Fruit and Vegetable Preparatory, Processing and Canning Equipments.
· Fruit Juice Concentration Equipments.
· Mushroom Processing, Canning and Potato Chips line.
· Peas Preparatory and processing line.
· Dehydration Plant.
· Bottling line.
· IMineral Water Filling and Packaging Plant.
· Automatic Filling line and other Packaging Equipments.
· Turnkey Projects.
· From single units to complete processing line, custom-built to suit need based individual requirements.
· Various Material Handling Equipments.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.12 |
|
UK Pound |
1 |
Rs.79.60 |
|
Euro |
1 |
Rs.63.83 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
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 |
|