MIRA
INFORM REPORT
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Report Date : |
21.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
J AND
J’S EXPORTS PRIVATE LIMITED |
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Registered Office : |
# 27,
Second Cross, Byreshwara Layout, Hennur Bande Post, Bangalore – 560043,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.01.2001 |
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Com. Reg. No.: |
08-28431 |
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CIN No.: [Company
Identification No.] |
U51216KA2001PTC028431 |
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Legal Form : |
Private
limited liability company. |
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Line of Business : |
To
carry on the business of manufacturing, buying, selling, exporting and
importing of goods and services of all kinds, leather goods, handicrafts,
jewellery, furniture, toys, leather apparels, service providers, franchising,
paper products, organising training programmes, pottery and silk goods. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a small and unknown company having moderate performance and track.
Financial position is poor. No payment records are available. The
company donot have significant assets. It can be considered for small to
moderate business dealings on safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
# 27,
Second Cross, Byreshwara Layout, Hennur Bande Post, Bangalore – 560043,
Karnataka, India |
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Tel. No.: |
91-80-25436683
/ 25436687 |
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Mobile No.: |
91-9844037859 |
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Fax No.: |
91-80-41616761
/ 25436681 |
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E-Mail : |
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Area : |
1500
Sq. ft. |
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Location : |
Leased
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Factory
1 : |
Located
at Chickaballapur [Suburb of Bangalore] |
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Area : |
˝ Acre
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Location : |
Leased
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DIRECTORS
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Name : |
Mr.
John Peter Kripagaran |
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Designation : |
Director
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Address : |
No.
2/3, Assaye Road, Bangalore - 560042, Karnataka, India |
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Date of Birth/Age : |
19.11.1966 |
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Qualification : |
M. A. |
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Experience : |
15
Years |
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Date of Appointment : |
10.01.2001 |
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Name : |
Mrs.
Joyce Lynn D Peters |
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Designation : |
Director
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Address : |
No.
2/3, Assaye Road, Bangalore - 560042, Karnataka, India |
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Date of Birth/Age : |
10.11.1976 |
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Qualification : |
Graduate
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Experience : |
5
Years |
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Date of Appointment : |
10.01.2001 |
KEY EXECUTIVES
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Name
: |
Mr.
Venkatesh Roy |
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Designation
: |
General
manager |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr.
John Peter Kripagaran |
500 |
50.00 % |
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Mrs.
Joyce Lynn D Peters |
500 |
50.00 % |
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Total |
1000 |
100.00 % |
BUSINESS DETAILS
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Line of Business : |
To
carry on the business of manufacturing, buying, selling, exporting and
importing of goods and services of all kinds, leather goods, handicrafts,
jewellery, furniture, toys, leather apparels, service providers, franchising,
paper products, organising training programmes, pottery and silk goods. |
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Products : |
Brazilian
Sugar, Jute Bags, T-Shirts, bauxite, Iron Ore etc. |
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Exports to : |
Germany
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Imports from : |
Brazil
[In Process] |
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Terms : |
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Selling : |
L/C
30/45 days |
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Purchasing : |
L/C
and Local Purchase 30-60 days |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
220 |
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Bankers : |
Citi
Bank, N. A., M. G. Road, Bangalore – 560001 Deutsche
bank, M. G. Road, Bangalore – 560001 |
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Facilities : |
Unsecured
Loan from Directors Rs. 0.429 Millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Charles
Prabhakar and Associates Chartered
Accountants Bangalore
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CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.500 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.100 Millions |
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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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0.100 |
0.100 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.429 |
0.427 |
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TOTAL BORROWING |
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0.429 |
0.427 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.529 |
0.527 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.010 |
0.013 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.002 |
0.003 |
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Sundry Debtors |
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0.052 |
0.052 |
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Cash & Bank Balances |
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0.027 |
0.006 |
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Other Current Assets |
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0.030 |
0.000 |
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Total Current Assets |
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0.111 |
0.061 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.016 |
0.021 |
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Total Current Liabilities |
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0.016 |
0.021 |
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Net Current Assets |
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0.095 |
0.040 |
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MISCELLANEOUS EXPENSES |
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0.424 |
0.474 |
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TOTAL |
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0.529 |
0.527 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
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0.215 |
0.218 |
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Profit/(Loss)
Before Tax |
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[0.118] |
[0.056] |
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Export
Value |
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0.215 |
0.217 |
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Average
Value of Inventories |
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0.002 |
0.003 |
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Total
Expenditure |
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0.333 |
0.274 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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[54.88] |
[25.69] |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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[97.52] |
[75.68] |
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Return
on Investment (ROI) (PBT/Networth) |
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[1.18] |
[0.56] |
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Debt
Equity Ratio (Total
Liability/Networth) |
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4.45 |
4.48 |
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Current
Ratio (Current
Asset/Current Liability) |
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6.94 |
2.90 |
LOCAL AGENCY
FURTHER INFORMATION
The
company changed its Registered Office from No. 2/3, Assaye Road, Bangalore -
560042, Karnataka, India to # 27, Second Cross, Byreshwara Layout, Hennur Bande
Post, Bangalore – 560043, Karnataka w.e.f. January 2007.
Business
Trading
House with expertise around Agro, Garments, Food sectors.
Also
Importers of Sugar. Product handled include T-Shirts, Jackets, handkerchiefs,
Jutebags, etc
Company
also has plans to diversity into Real Estate Business and is in the process of
acquiring Prime Land near Proposed Bangalore International Airport.
- They are a young trading
company
- Based in the South zone of
India at Bangalore.
- They are merchant exporters
and specialize In agriculture / food sector.
- They have an excellent team
of professionals working with them and affirm wide contacts all over
business relationship with them.
- They are currently
specialising in the purchase of Brazilian sugar.
- Icumsa 45 and are directly
involved in the sales of the same.
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Company Profile |
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Business
Type : |
Trading
Company |
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OEM
Service : |
No |
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Buyer
or Supplier : |
Both |
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Geographic
Markets : |
Worldwide
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No. of
Employees : |
51-100
People |
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Annual
Sales Range [USD] |
Below
US $ 1 Million |
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Legal
Representative / CEO |
Joyce
Peters |
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Year
Established |
1995 |
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.44.28 |
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UK
Pound |
1 |
Rs.86.64 |
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Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
2 |
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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 |
NO |
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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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14 |
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 |
|
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 |
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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 |
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