MIRA
INFORM REPORT
|
Report Date : |
20.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
JAYESH
INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
605-609,
6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai 400089 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
27.02.1992 |
|
|
|
|
Com. Reg. No.: |
11-65609 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999MH1992PTC065609 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ06478D |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading
and Dealing in Chemicals, Paper, Leather, Petroleum Products etc |
RATING & COMMENTS
|
MIRAs 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
70000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established company having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
605-609,
6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai 400089 |
|
Tel. No.: |
91-22-67039991/92/25260983/30946365 |
|
Fax No.: |
91-22-67039990/25260986 |
|
E-Mail : |
info@jayeshgroup.com,contact@jayeshgroup.com, jayesh.group@gems.vsnl.net.in |
|
Website : |
|
|
|
|
|
Office
: |
Plot
No. W104, MIDC, TTC Industrial Area, Thane Belapur Road, Khairane, Navi
Mumbai 400613, Maharshtra |
|
Tel.
No.: |
91-22-67039991 |
|
Fax
No.: |
91-22-40119991 |
DIRECTORS
|
Name : |
Mr.
Dinesh Nandlal Shah |
|
Designation : |
Director
|
|
Address : |
B 3,
Jayesh R B Mehta Marg, Ghatkopar (West), Mumbai 400077 |
|
Date of Birth/Age : |
27.07.1948 |
|
Date of Appointment : |
24.07.1995 |
|
|
|
|
Name : |
Mr.
Jayesh Dinesh Shah |
|
Designation : |
Director
|
|
Address : |
B 3,
Jayesh R B Mehta Marg, Ghatkopar (West), Mumbai 400077 |
|
Date of Birth/Age : |
02.05.1975 |
|
Date of Appointment : |
24.07.1995 |
|
|
|
|
Name : |
Mr.
Monil Dinesh Shah |
|
Designation : |
Director
|
|
Address : |
B 3,
Jayesh R B Mehta Marg, Ghatkopar (West), Mumbai 400077 |
|
Date of Birth/Age : |
25.09.1981 |
|
Date of Appointment : |
17.07.2000 |
|
|
|
|
Name : |
Mr.
Utpal Diesh Shah |
|
Designation : |
Director
|
|
Address : |
B 3,
Jayesh R B Mehta Marg, Ghatkopar (West), Mumbai 400077 |
|
Date of Birth/Age : |
29.04.1979 |
|
Date of Appointment : |
17.07.2000 |
|
|
|
|
Name : |
Mr.
Nilesh Jayantilal Karia |
|
Designation : |
Director
|
|
Address : |
30,
Subh Niwas, Next to Moot Stop Restaurant, 38 M G Road, Ghatkopar (East),
Mumbai 400077 |
|
Date of Birth/Age : |
10.01.1975 |
|
Date of Appointment : |
01.10.2004 |
|
Name
: |
Mr.
Vijay Jitendra Mehta |
|
Designation
: |
Director
|
|
Address
: |
203,
Megh Ratana, Derasar Lane, Ghatkopar (East), Mumbai 400077 |
|
Date
of Birth/Age : |
18.04.1972 |
|
Date
of Appointment : |
01.10.2004 |
|
|
|
|
Name
: |
Mr.
Mihir Bharat Nisar |
|
Designation
: |
Director
|
|
Address
: |
9,
Pallavi Sadan, Vallabh Baug Lane, Mumbai 400075 |
|
Date
of Birth/Age : |
29.04.1979 |
|
Date
of Appointment : |
01.10.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Dinesh Nandlal Shah |
16440 |
|
Mr.
Jayesh Dinesh Shah |
2668 |
|
Mrs.
Usha Dinesh Shah |
2500 |
|
Mr.
Utpal Dinesh Shah |
2700 |
|
Mr.
Monil Dinesh Shah |
2700 |
|
Mr.
Dinesh Nandlal Shah |
6000 |
|
M/s.
Utpal Impex Private Limited |
2 |
|
M/s.
Jayesh Metals & Fero Alloys Private Limited |
2 |
|
Mr.
Jayesh D Shah Joint with Mrs. Usha D Shah |
2668 |
|
Mrs.
Usha D Shah Joint with Mr. Dinesh N Shah |
12600 |
|
Mr.
Utpal Diesh Shah Joint with Mrs. Usha D Shah |
3700 |
|
Mr.
Monil Dinesh Shah Joint Mr. Dinesh N Shah |
7700 |
|
Mr.
Dinesh N Shah Joint with Mrs. Usha D Shah |
11340 |
|
Mr.
Jayesh D Shah Joint with Mrs. Anuradha J Shah |
1000 |
BUSINESS DETAILS
|
Line of Business : |
Trading
and Dealing in Chemicals, Paper, Leather, Petroleum Products etc |
GENERAL
INFORMATION
|
No. of Employees : |
200 |
|
|
|
|
Bankers : |
State
Bank of India, Specialised S I B Branch, Ghatkopar (West), Mumbai 400086 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
J D
Zatakia & Company Chartered
Accountant |
|
Address: |
109,
Vyapar Bhavan, P Demello Road, Mumbai 400009 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
720200 |
Equity
Shares |
Rs. 10/- Each |
Rs. 7.202 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
7.202 |
7.202 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
10.479 |
5.663 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
17.681 |
12.865 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
11.137 |
16.831 |
|
|
2] Unsecured Loans |
|
4.722 |
1.218 |
|
|
TOTAL BORROWING |
|
15.859 |
18.049 |
|
|
DEFERRED TAX LIABILITIES |
|
0.322 |
0.396 |
|
|
|
|
|
|
|
|
TOTAL |
|
33.862 |
31.310 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.681 |
4.858 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
17.711 |
16.959 |
|
|
Sundry Debtors |
|
25.921 |
17.495 |
|
|
Cash & Bank Balances |
|
0.116 |
0.195 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
12.520 |
9.179 |
|
Total Current Assets |
|
56.268 |
43.828 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
19.990 |
14.149 |
|
|
Provisions |
|
7.097 |
3.449 |
|
Total Current Liabilities |
|
27.087 |
17.598 |
|
|
Net Current Assets |
|
29.181 |
26.230 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.222 |
|
|
|
|
|
|
|
|
TOTAL |
|
33.862 |
31.310 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
149.629 |
118.711 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
9.189 |
8.087 |
|
Provision
for Taxation |
|
3.274 |
3.342 |
|
Profit/(Loss)
After Tax |
|
5.915 |
4.745 |
|
|
|
|
|
|
Total
Expenditure |
|
140.439 |
110.624 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
3.95 |
3.99 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
6.14 |
6.81 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
15.07 |
16.61 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.51 |
0.62 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
2.42 |
2.77 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.07 |
2.49 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U74999MH1992PTC065609 |
|
Name of the company |
JAYESH
INDUSTRIES PRIVATE LIMITED |
|
Address |
605-609,
6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road, |
|
This Form is for |
Modification Charge |
|
Particular of the charge holder |
State Bank of India, Specialised S I B Branch, Ghatkopar (West), Mumbai 400086 |
|
Amount Secure by the charge |
Rs. 16.000 Millions |
|
Operations of the charge |
Inters payable at such rates as may be decided by the bank from time to time. Margin to be maintained at such rates as stipulated by the bank from time to time Individual limits within the aggregated amount secured to be decided between the company and bank from time to time |
|
Description of the property charge whether it is a charge on |
Immovable, Stock in trade, Book Debts and other |
|
Property Charged |
All present and future goods, book debts, movable and other assets such as outstanding moneys, investment and right and the present machinery and all future and all machinery |
|
Modification charge Charge identification number of the charge to be modified |
80011271 |
|
Date of instrument modifying the charge |
29.08.2006 |
|
Particulars of the present modification |
The total amount secured now stands enhanced from Rs. 37.000 Millions to Rs. 39.400 Millions |
|
Corporation identity number or foreign company registrations number of the company |
U74999MH1992PTC065609 |
|
Name of the company |
JAYESH
INDUSTRIES PRIVATE LIMITED |
|
Address |
605-609,
6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road, |
|
This Form is for |
Modification Charge |
|
Particular of the charge holder |
State Bank of India, Specialised S I B Branch, Ghatkopar (West), Mumbai 400086 |
|
Amount Secure by the charge |
Rs. 16.000 Millions |
|
Operations of the charge |
Inters payable at such rates as may be decided by the bank from time to time. Margin to be maintained at such rates as stipulated by the bank from time to time Individual limits within the aggregated amount secured to be decided between the company and bank from time to time |
|
Description of the property charge whether it is a charge on |
Immovable, Stock in trade, Book Debts and other |
|
Property Charged |
All present and future goods, book debts, movable and other assets such as outstanding moneys, investment and right and the present machinery and all future and all machinery |
|
Modification charge Charge identification number of the charge to be modified |
80011271 |
|
Date of instrument modifying the charge |
29.08.2006 |
|
Particulars of the present modification |
The total amount secured now stands enhanced from Rs. 37.000 Millions to Rs. 39.400 Millions |
|
Corporation identity number or foreign company registrations number of the company |
U74999MH1992PTC065609 |
|
Name of the company |
JAYESH
INDUSTRIES PRIVATE LIMITED |
|
Address |
605-609,
6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road, |
|
This Form is for |
Modification Charge |
|
Particular of the charge holder |
State Bank of India, Specialised S I B Branch, Ghatkopar (West), Mumbai 400086 |
|
Amount Secure by the charge |
Rs. 6.600 Millions |
|
Operations of the charge |
Security created in respect of medium term loan, cash credit facility granted by the bank |
|
Description of the property charge whether it is a charge on |
Immovable, Stock in trade, Book Debts and other |
|
Property Charged |
Piece of land known as plot no. w- 104 in the TTC industrial area with the village limits of pawane 10 and sub district |
|
Modification charge Charge identification number of the charge to be modified |
80011273 |
|
Date of instrument modifying the charge |
29.08.2006 |
|
Particulars of the present modification |
The total amount secured now stands enhanced from Rs. 37.000 Millions to Rs. 39.400 Millions |
|
Name of the company |
JAYESH
INDUSTRIES PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
General agreement for grant of small industries advance and hypothecation of movable, book debts and other assets dated 02.04.2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 16.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present and future goods, book debts, movables and other assets of the company including if titles to goods and other assets, such as outstanding moneys, receivables, claims, bills, invoices, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest payable at such rate as may be decided by the bank from time to time Margin to be maintained at such at rates as stipulated by the bank from time to time Security created by way of first charge and to cover the principal |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India, SIB Branch, Ghatkpar, Mumbai |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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 Intl 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
companys 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.44.64 |
|
UK
Pound |
1 |
Rs.86.51 |
|
Euro |
1 |
Rs.58.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SCs 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/normal. |
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 |
|