MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JOHN ENERGY LIMITED |
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Registered Office : |
Plot No. 220 GIDC Estate, Mehsana– 384002, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.10.1987 |
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Com. Reg. No.: |
10044 |
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CIN No.: [Company
Identification No.] |
U29224GJ1987PLC010044 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMJ01774D |
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PAN No.: [Permanent
Account No.] |
AAACJ5184F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Oil Field Services |
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 1007816 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well - established and reputed company having
satisfactory track. Available information indicates satisfactory financial responsibility
of the company. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 220 GIDC Estate, Mehsana– 384002, |
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Tel. No.: |
91-2762-251830 / 26850132 |
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Fax No.: |
91- 2762-254822 / 26850133 |
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E-Mail : |
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Website : |
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Ahmedabad Office : |
101,. Sapath III, |
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Tel. No.: |
91-79-26850132 |
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Fax No.: |
91-79-26850133 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Mahesh Kumar Natvarlal Vyas |
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Designation : |
Chairman - cum - Managing Director |
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Address : |
14, Ashwamegh Bunglow, Part –IV Satelite, Ahmedabad, |
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Date of Birth/Age : |
01.06.1957 |
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Date of Appointment : |
09.10.1987 |
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Name : |
Mr. Dilip Kumar Natvarlal Vyas |
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Designation : |
Director |
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Address : |
19, Surmya Society B/H Rajpath Hotel, Nagalpur, Mehsana – 384 002, |
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Date of Birth/Age : |
01.01.1964 |
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Date of Appointment : |
09.10.1987 |
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Name : |
Mr. Bhartiben Gunvanrary Panchal |
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Designation : |
Director |
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Address : |
25, Saikrupa Society, B/H New Janpath Hotel, Mehsana – 384 002, |
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Date of Birth/Age : |
03.02.1962 |
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Date of Appointment : |
27.12.1992 |
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Name : |
Mr. Dipak Kumar Amrutlal Joshi |
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Designation : |
Director |
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Address : |
5, |
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Date of Appointment : |
13.07.1998 |
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Name : |
Mr. Chirag Mahesh Kumar Vyas |
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Designation : |
Director |
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Address : |
14, Ashwamegh Bunglow, Part –IV Satelite, Ahmedabad, |
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Date of Birth/Age : |
09.11.1981 |
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Date of Appointment : |
01.07.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Bhartiben G Panchal |
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467125 |
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Mr. Mahesh Kumar Vyas |
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3243910 |
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Mr. Dilip Kumar Vyas |
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1074105 |
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Mr. Natvarlal Vyas |
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325475 |
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Mrs. Rasilaben Vyas |
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242475 |
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Mr. RameshBhai Patel |
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44075 |
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Mr. Sunilbhai Thakar |
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18750 |
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Mr. Dinesh Thakar |
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6250 |
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M/s. Avani Joshi |
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5000 |
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Mr. Dilip Kumar Joshi |
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16250 |
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Mr. Asutosh Raval |
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3125 |
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M/s. Dipali Acharya |
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3125 |
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M/s Arunaben Pancholi |
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3125 |
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M/s. Durgaben Vyas |
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3125 |
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M/s Abhaben Vyas |
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149625 |
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Mr. Kantilal Patel |
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3125 |
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Mr. Amrutlal S. Patel |
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35750 |
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Mr. Babubhai Patel |
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9125 |
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Mr. Ranchod Bhai Patel |
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16875 |
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Mr. Somabhai Patel |
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13125 |
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Mr. Chirag Vyas |
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811960 |
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John Oil and Gas Limited |
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1698000 |
Equity Share Break up: (Percentage of Total Equity)
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S.No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Oil Field services |
GENERAL INFORMATION
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Customers : |
Drilling / Workover Services :
Gas Compression Services :
Supply of water Well Drilling Rigs :
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Bankers : |
Raj Email ID:
test@testmail.com |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s Ashvink Yagnik and Company Chartered Accountants |
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Address : |
Pilaji Ganj, Mehsana – 384 001, |
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Tel. No.: |
91-2762-253598, 257898 |
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Fax No.: |
91-2762-257898 |
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E-Mail : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000,000 |
Equity |
Rs.10/- each |
100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9595000 |
Equity |
Rs.10/- each |
Rs.95.950
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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95.950 |
81.935 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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156.004 |
110.537 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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251.954 |
192.472 |
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LOAN FUNDS |
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1] Secured Loans |
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202.976 |
126.317 |
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2] Unsecured Loans |
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10.781 |
9.281 |
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TOTAL BORROWING |
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213.757 |
135.598 |
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DEFERRED TAX LIABILITIES |
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30.511 |
23.802 |
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TOTAL |
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496.222 |
351.872 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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468.156 |
287.751 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.555 |
0.555 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.333 |
2.141 |
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Sundry Debtors |
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77.419 |
67.395 |
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Cash & Bank Balances |
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45.387 |
60.004 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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22.782 |
16.547 |
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Total
Current Assets |
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147.921 |
146.087 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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91.526 |
58.847 |
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Provisions |
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28.884 |
23.674 |
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Total
Current Liabilities |
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120.410 |
82.521 |
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Net Current Assets |
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27.511 |
63.566 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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496.222 |
351.872 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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404.776 |
368.697 |
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Other Income |
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2.091 |
0.715 |
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Total Income |
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406.776 |
369.697 |
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Profit/(Loss) Before Tax |
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84.901 |
88.717 |
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Provision for Taxation |
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30.112 |
33.385 |
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Profit/(Loss) After Tax |
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54.789 |
55.332 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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13.46 |
14.96 |
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Net Profit Margin (PBT/Sales) |
(%) |
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20.97 |
24.06 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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13.76 |
20.42 |
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Return on Investment (ROI) (PBT/Networth) |
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0.33 |
0.46 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.47 |
0.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.22 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U29224GJ1987PTC010044 |
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Name of the company |
JOHN ENERGY LIMITED |
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Address |
Plot No. 220 GIDC Estate, Mehsana,
Ahmedabad – 384002, |
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This Form is for |
Creation of Charge |
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Type of Charges |
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Particular of the charge holder
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Central Bank of Raj Email ID: test@testmail.com |
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Nature or description of the instrument creating charge |
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Date of the instrument creating charge |
09.06.2006 |
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Amount Secure by the charge |
Rs.59.200 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
T.L.- 1INT.BPLRb + 0.5% P.A. |
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Description of the property charge whether it is a charge on |
1.E.M. Over 205,
Samudra Annexe, of CG Road Navrangpura Ahmedabad |
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Particulars of the Property charged
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WEB DETAILS:
Operating finest equipments to probe into the earth does not keep them from aiming at the sky in terms of excellence of quality and services. At each of the companies, John Energy Limited, John Oil and Gas Limited and JVM Engineering Co., which join hands to form John Group of Companies, they constantly strive to outdo their performance than that of their competitors.
John Energy Ltd.
concentrates in providing outstanding services in the arena of Oil & Gas
field. A combined effort of their unsurpassable manpower and the latest technology
adopted by them, makes them an absolutely exclusive option in the field. In
today’s age of globalization, they constantly endeavor to extend their
activities and expand their scope in the world of specialization.
John Oil and Gas
Ltd., which was floated much later, mainly supports the
activities of John Energy Ltd.
JVM Engineering
Company, the oldest member of the group, takes care of the
manufacturing, designing and engineering water well drilling rigs and oil and
gas field equipment.
Vision:
John Energy started with the mission of providing International Standards of Services to Clientele imbibing the same sprint of future centric approach, they envision themselves as niche providers of Oil and Gas Field Services across the continent.
On the wheels of efficiency and ethics John Energy Ltd. aspires to leave an
indelible mark as they are committed to core excellence. Their beliefs get
their maximum impetus from their pillars of strength i.e. their workforce. A
judicious mixture of experience and enthusiasm differentiates their employees
and marks them for their boundless devotion to work ethics and energy.
They aim at providing their customers, sophisticated infrastructure coupled
with technology savvy team, that synergies world class services.
They track their growth on the high way of success, marking milestones like
- Absolute
commitment to client
- Continual appraisals to seek self improvement
Their holistic approach to business has garnered rich dividend for them and
they shall continue to strive.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.41.57 |
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|
1 |
Rs.82.14 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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 |
YES |
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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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48 |
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 |
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