MIRA
INFORM REPORT
|
Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
JBJ MACHINE TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
D-18, Kalindi Colony, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
07.05.1996 |
|
|
|
|
Com. Reg. No.: |
55-78755 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74995DL1996PTC078755 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ04275F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACJ3218L |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of dies, moulds and related components and services
thereof. |
RATING & COMMENTS
|
MIRA’s 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 40000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory track
records. Directors are reported as experienced and respectable businessmen.
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
|
Registered Office : |
D-18, Kalindi Colony, |
|
Tel. No.: |
91-120-2425180 |
|
Fax No.: |
91-120-2425186 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located at :
|
DIRECTORS
|
Name : |
Mr. Sanjay Prakash |
|
Designation : |
Director |
|
Address : |
D-18, Kalindi Colony, |
|
Date of Birth/Age : |
21.11.1965 |
|
Date of Appointment : |
07.05.1996 |
|
|
|
|
Name : |
Ms. Anjali Gujral |
|
Designation : |
Director |
|
Address : |
D-18, Kalindi Colony, |
|
Date of Birth/Age : |
18.11.1963 |
|
Date of Appointment : |
01.07.1999 |
|
|
|
|
Name : |
Ms. Shakuntala Prakash |
|
Designation : |
Director |
|
Address : |
D-18, Kalindi Colony, |
|
Date of Appointment : |
07.05.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Sanjay Prakash |
|
20 |
|
Ms. Anjali Gujral |
|
19980 |
|
|
|
|
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Bodies corporate |
|
20.00 |
|
Directors of relatives of directors |
|
80.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of dies, moulds and related components and services
thereof. |
|
|
|
|
Products : |
v
Plastic Injection Moulds ·
Thermoplastic Injection Moulds ·
Thermoset Injection Moulds ·
Compression Moulds ·
Transfer Moulds v
Sheet Metal Press ·
Lamination Dies ·
Progressive Dies ·
Compound Dies ·
Fine Blanking Dies v
Extrusion Dies v
Powder Compacting Dies v
Forging Dies v
Jigs, Fixtures and Gauges v
Rework and Repair of dies and moulds v
Die and Mould Components v
Hot halves incorporating hot runner systems v
Product and tool designing and analysis services |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Financial Institution : |
Srei
Infrastructure Finance Limited 8, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharat Jain and Company Chartered Accountants |
|
Address : |
1101, Navrang House, 21 Kasturba Gandhi Marg, |
|
Tel. No.: |
91-11-23359093, 41010382, 23359530 |
|
Fax No.: |
91-11-23359129 |
|
E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.250 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.250 Million |
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 |
|
0.250 |
0.200 |
|
|
2] Share Application Money |
|
0.000 |
0.800 |
|
|
3] Reserves & Surplus |
|
10.012 |
3.809 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10.262 |
4.809 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5.113 |
7.130 |
|
|
2] Unsecured Loans |
|
2.200 |
2.700 |
|
|
TOTAL BORROWING |
|
7.313 |
9.830 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
17.575 |
14.639 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
16.247 |
17.583 |
|
|
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 |
|
0.808 |
0.933 |
|
|
Sundry Debtors |
|
2.486 |
2.024 |
|
|
Cash & Bank Balances |
|
0.810 |
1.062 |
|
|
Other Current Assets |
|
0.092 |
0.030 |
|
|
Loans & Advances |
|
1.726 |
2.079 |
|
Total
Current Assets |
|
5.922 |
6.128 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
2.661 |
7.208 |
|
|
Provisions |
|
1.933 |
1.866 |
|
Total
Current Liabilities |
|
4.594 |
9.074 |
|
|
Net Current Assets |
|
1.328 |
[2.946] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
|
17.575 |
14.639 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Total Income |
|
18.693 |
23.875 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.856 |
4.358 |
|
Provision for Taxation |
|
0.603 |
1.519 |
|
Profit/(Loss) After Tax |
|
1.253 |
2.839 |
|
|
|
|
|
|
Total Expenditure |
|
16.836 |
19.517 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
6.70 |
11.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
9.93 |
18.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.37 |
18.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.18 |
0.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.16 |
3.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.29 |
0.68 |
LOCAL AGENCY FURTHER INFORMATION
Company Profile
Subject is a quality manufacturer of dies, moulds
and related components and services thereof. Their customers are in the
automotive, electrical, electronic, medical, packaging and a variety of other
industries. Their key strength is in working along with the customer from the
conception of a product to delivering a performing tool, good for production
runs. They take responsibility for product design, tool design, complete tool
manufacture and tool trials.
While they make significant investments in
their equipment, their employees are most valuable asset. Their tool and die
makers and machinists are among the most experienced and talented in the
industry.
Bankers Charges
Report as per Registry
|
Name of the company |
JBJ MACHINE
TECHNOLOGIES PRIVATE LIMITED |
|
Presented By |
Sanjay Prakash |
|
1) Date and description of instrument creating the change |
Loan Sanction
Letter Dated 17.07.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.366
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 |
CNC Machine |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Assets being 1 No.
CNC machine casting Rs. 5.366 Millions repayment in 36 installments of Rs.
0.166 Million each commencing from payment or bill fo coding whichever is
earlier against security of assets and personal guarantee of Mr. Sanjay Prakash,
Director |
|
5) Name and Address and description of the person entitled to the charge. |
Srei
Infrastructure Finance Limited 8, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U74995DL1996PTC078755 |
|
Name of the
company |
JBJ MACHINE TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-18, Kalindi Colony, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
L29219WB1985PLC055352 Srei
Infrastructure Finance Limited Vishwakarma, 86C,
|
|
Nature of
description of the instrument creating or modifying the charge |
Loan cum
hypothecation agreement |
|
Date of
instrument Creating the charge |
15.01.2007 |
|
Amount secured by
the charge |
Rs. 1.631 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.07 % p.a. Terms of
Repayment Amount repayment
in 17 nos. installment Rs. 0.106 Million each p.m. Margin Rs. 0.177
Millions Extent and
operation of the charge In consideration
of the grant of the loan by SREI INFRASTRUCTURE FINANCE LIMITED to the
customer and as security for the payment, repayment, reimbursement as the
case may be of the secured obligation the customer hererby hypothecates and
charge into and in favour of SREI INFRASTRUCTURE FINANCE LIMITED as and by
way of first exclusive charge the assets in a form satisfactory to SREI
INFRASTRUCTURE FINANCE LIMITED upon the term and conditions specified in the
attached loan cum hypothecation agreement. |
|
Short particulars
of the property charged |
No. 200 KVA DG
Set, 1 No. Motorised Joystick, within |
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.40.24 |
|
|
1 |
Rs.83.04 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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/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 |
|