MIRA
INFORM REPORT
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Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AJAY INDUSTRIES |
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Registered
Office : |
Ajay Nagar, Behind Industrial Estate, Pathankot Bye-Pass Chowk, Jalandhar
– 144008, Punjab |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1973 |
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Capital
Investment : |
Rs. 8.000 Millions (Estimated) |
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TIN No.: |
03931006256 |
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Legal Form : |
Partnership concern with unlimited liability of the partners |
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Line of Business
: |
Manufacturer, Exporter and Trader of Hand tools, automobile tools,
builders hardware gate fittings, spanners, plumbing tools, pincers, pliers, woodworking
tools, vices, carpenter tools, hacksaws, striking tools, steel bars, tool
bags, chisel, double open end spanners, bihexagonal ring spanners,
combination spanners ISO 9001:2000 and ISO 14001:2004 and German Standard |
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No. of Employees
: |
100 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 32000 |
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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 an established partnership concern having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. A. K. Goswami |
|
Designation : |
Partner |
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Contact No.: |
91-9855590295 |
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Date : |
11.08.2011 |
LOCATIONS
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Registered Office/Factory : |
Ajay Nagar, Behind Industrial Estate, Pathankot Bye-Pass Chowk, Jalandhar
– 144008, Punjab, India |
|
Tel. No.: |
91-181-2611874/2611875/2611876/2611877/2484142/5091858(R) |
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Mobile No.: |
91-9855590295 (Mr. A. K. Goswami) |
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Fax No.: |
91-181-2611873/2484141 |
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E-Mail : |
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Website : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. A. K. Goswami |
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Designation : |
Partner |
|
Address : |
Jalandhar – 144008, Punjab, India |
Note:
The name of the other partners are not
divulged
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Hand tools, automobile tools,
builders hardware gate fittings, spanners, plumbing tools, pincers, pliers,
woodworking tools, vices, carpenter tools, hacksaws, striking tools, steel
bars, tool bags, chisel, double open end spanners, bihexagonal ring spanners,
combination spanners ISO 9001:2000 and ISO 14001:2004 and German Standard |
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Products : |
·
Spanners ·
Automobile tools ·
Plumbing tools ·
Pincers and pilers ·
Woodworking tools ·
Vices ·
Miscellaneous tools |
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Exports : |
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Countries : |
All over the world |
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Terms : |
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Selling : |
L/C, Cash and Credit: 30 Days |
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Purchasing : |
Cash and Credit: 30 Days |
GENERAL INFORMATION
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No. of Employees : |
100 (approximately) |
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Bankers : |
·
Bank of India – Jalandhar – 144008, Punjab, India
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
·
Ajay Manufacturing Company Address: B-22, Industrial Estate, Near
Pathankot Bye Pass Chowk, Jalandhar, Punjab, India TIN: 03081008809 ·
Euro Forge Address: Plot No. 36, Waryana Industrail
Complex, Kapurthala Road, Jalandhar, Punjab, India TIN: 03762026547 |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Rs. 8.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 8.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
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Sales Turnover (approximately) |
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60.000 |
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The above information has been parted by Mr. A. K. Goswani
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS
PROFILE:
Ajay Group of Companies was established in 1973 by late Shri Chanchal Das (Principal com Director of various Technical Institutes under DAV Managing Committee). The company is renowned Manufactures and Exporters of Hand Tools, Automobile Tools and Builders Hardware Gate Fittings. The group consists of team of professionals in Manufacturing and Development.
The secret of success has been there policies to achieve Total Customer
Satisfaction by providing finest products and services that meet the
expectations of there customer. They have also well established brand name in
domestic market. They ensure to remain the competent partner for there
customers in future and satisfy their all needs. The Current Major Exports
Market are Europe, USA, Russia, South America, South Africa etc.
The organization and there products are verified regularly through external
audits as part of quality assurance and environmental management procedures.
ISO 9001:2000 and ISO 14001:2004 and German Standard are self evident as the
satisfaction of there customers. The quality requirements demand a commitment
to ecological sustainability. They are aware of there responsibility for the
environment and the need to utilize resources sparingly and constantly endeavor
to implement improvements in this area.
They Focus on the advantages of a strong manufacturing base, a team of highly
skilled and motivated professionals and there customers. Keeping in line with
this focus they have for the first time, divided the complete range of Tools
into specific division, which details specifies of each of the ranges. Further,
they have also introduced informative and attractive display packaging, with
informative and most importantly help in selling. The Tools are perfectly
designed and made out of selected steel as per International Standard and
specifications. Keeping in view firm emphasis on quality, rigorous standards of
inspection are exercised at every stage of production to ensure each and every
products conforms to an embodiment of engineering perfection.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.