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MIRA INFORM REPORT
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Report No. : |
509095.2 |
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Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
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Name : |
JAY CHEMICALS |
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Registered
Office : |
C-303, Neelkanth Business Park, Nathani Road, Vidyavihar (West), Mumbai
– 400086, Maharashtra |
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Tel. No.: |
91-22-25119081 / 25147527 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Establishment: |
03.09.1988 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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TIN No.: |
Not Available |
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IEC No.: [Import-Export Code No.] |
0388112786 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAAFJ4824F1ZR |
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PAN No.: [Permanent Account No.] |
AAAFJ4824F |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer,
Exporter, Importer and Supplier of Chemicals. [Confirmed by management] |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 233000 [In INR 15702382.6] |
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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 : |
Jay Chemicals is a manufacturer, exporter, importer and supplier of chemicals. The concern was started in the year 1988 and is based in Mumbai, Maharashtra. It is an established partnership concern having satisfactory track record.
Site visit was
conducted at the address which you have provided. Our executive has
successfully traced the concern at the given address. At the premises,
our executive met Suresh Rai (Security Incharge) who confirmed existence of
the concern at the given address but didn’t allow our executive to enter into
the premises. As per our
executive observation, it is a two storey building. Locality of the premises
appears to be commercial and area seems to be downmarket. Name board of the
concern was sighted at the given premises. Our executive also
had a word with the neigbour of the concern i.e., “Century” who confirmed
that concern exists at the given address. |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE RATING |
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Rating |
Long Term Rating = BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
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Date |
December 13, 2017 |
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Rating Agency Name |
CARE RATING |
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Rating |
Short Term Rating = A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
December 13, 2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 23.05.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY [PARTIAL DETAILS]
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Name : |
Mr. Megha |
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Designation : |
Supply Chain Assistant |
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Contact No.: |
91-9324420749 |
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Date : |
11.05.2018 |
LOCATIONS
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Registered Office : |
C-303, Neelkanth Business Park, Nathani Road, Vidyavihar (West),
Mumbai – 400086, Maharashtra, India |
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Tel. No.: |
91-22-25119081 / 25147527 |
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Mobile No.: |
91-9324420749 [Mr. Megha] |
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Fax No.: |
91-22-25119081 / 25147527 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 137-138, Off Silvassa Road, Phase – II, GIDC, Vapi – 396195,
Gujarat, India |
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Tel. No.: |
91-260-2431724 / 2424620 / 2400280 |
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Locality : |
Commercial |
PARTNERS
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Name : |
Mr. Naresh Kanji Dama |
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Designation : |
Partner |
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Address : |
A/6, Ashirwad, Vallabhbaug Lane, Ghatkopar East, Mumbai – 400077,
Maharashtra, India |
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Name : |
Mr. Amrut Kanji Dama |
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Designation : |
Partner |
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Address : |
A/6, Ashirwad, Vallabhbaug Lane, Ghatkopar East, Mumbai –
400077, Maharashtra, India |
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Name : |
Mrs. Uma Naresh Dama |
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Designation : |
Partner |
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Address : |
A/6, Ashirwad, Vallabhbaug Lane, Ghatkopar East, Mumbai – 400077,
Maharashtra, India |
KEY EXECUTIVES
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Name : |
Ms. Megha |
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Designation : |
Supply Chain Assistant |
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Name : |
Mr. Prashant |
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Designation : |
Accounts Department |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter, Importer and Supplier of Chemicals. [Confirmed by management] |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in INR Million]
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Particulars |
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31.03.2017 |
31.03.2016 |
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Operating Income |
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810.000 |
760.000 |
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Profit After Tax |
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32.700 |
35.900 |
The above information has been taken from indirect source i.e. CARE.
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
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Year on Year Growth |
31.03.2016 |
31.03.2017 |
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INR In Million |
INR In Million |
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Sales |
760.000 |
810.000 |
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6.579 |
NET PROFIT MARGIN
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Net Profit Margin |
31.03.2016 |
31.03.2017 |
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INR In Million |
INR In Million |
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Sales |
760.000 |
810.000 |
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Profit |
35.900 |
32.700 |
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4.72% |
4.04% |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity – Legal Form |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
Yes |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
No |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION FORM
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COMPANY NAME: JAY CHEMICALS ADDRESS: Plot No 137 138, 2nd Phase, Phase-II, GIDC, Vapi – 396195,
Gujarat, India PERSON TO WHOM
WE MET: Mr. Suresh Rai [Security
Incharge]
Name of company: Century Neighbour’s Overview: Subject company
exist on given address.
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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
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Currency |
Unit
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INR |
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US Dollar |
1 |
INR 68.09 |
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1 |
INR 91.41 |
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Euro |
1 |
INR 79.93 |
INFORMATION DETAILS
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Information Gathered
by : |
AKS |
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
JYO |
SCORE FACTORS
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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 |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.