MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
B JAIN PUBLISHERS PRIVATE
LIMITED |
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Formerly Known As : |
B JAIN PUBLISHERS LIMITED |
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Registered Office : |
1921/10, Chuna Mandi, Pahar Ganj, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.07.1984 |
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Com. Reg. No.: |
18805 |
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CIN No.: [Company
Identification No.] |
U74899DL1984PTC018805 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ00002C |
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PAN No.: [Permanent
Account No.] |
AAACB1053B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Publisher of Homeopathic Books in different Language. |
RATING & COMMENTS
|
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 53868 |
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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 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
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Registered Office : |
1921/10, Chuna Mandi, Pahar Ganj, |
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Tel. No.: |
91-11-23581300 /23581100 /23580800 / 5169899 |
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Fax No.: |
91-11-23580471 / 41698993 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Ashok Jain |
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Designation : |
Director, Administration and Overseas
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Address : |
235, Sharda Niketan, Pitam Pura, |
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Date of Birth/Age : |
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Date of Appointment : |
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Name : |
Mr. Sarwan Jain |
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Designation : |
Director |
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Name : |
Mr. Nishant jain |
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Designation : |
Director |
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Name : |
Mr. Manish Jain |
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Designation : |
Director |
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Address : |
235, Sharda Niketan, Pitam Pura, |
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Date of Birth/Age : |
31.07.1981 |
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Date of Appointment: |
01.10.2006 |
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Name : |
Mr. Prem Nath Jain |
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Designation : |
Managing Director |
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Address : |
B-92, Swasthya Vihar, |
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Date of Birth/Age : |
09.04.1934 |
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Date of Appointment : |
27.07.1984 |
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Name : |
Mr. Kuldeep Jain |
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Designation : |
Director cum Chief executive officer |
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Address : |
92, Swasthya Vihar, |
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Date of Birth/Age : |
23.04.1957 |
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Date of Appointment : |
17.09.1984 |
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Name : |
Mr. Nitin Jain |
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Designation : |
Whole Time Director |
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Address : |
92, Swasthya Vihar, |
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Date of Birth/Age : |
30.08.1984 |
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Date of Appointment : |
01.10.2006 |
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Partnership held in the partnership Firm: |
B Jain Publishers Overseas Address: 1921/10, Chuna Mandi, Pahar Ganj, |
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Name : |
Mr. Bimla Jain |
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Designation : |
Director |
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Name : |
Mrs. Sangeeta Jain |
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Designation : |
Director |
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Address : |
B-92, Swasthya Vihar, |
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Date of Birth/Age : |
26.06.1966 |
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Date of Appointment : |
28.02.1986 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin Jain |
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Designation : |
Manager, Rights Department |
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Name : |
Mr. Aniruddha Guha |
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Designation : |
Sales and Promotion Coordinator |
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Name : |
Mr. Harsh Sharma |
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Designation : |
Manager –IT Department |
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Name : |
Mr. Ramamurthy Brahadesh |
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Designation : |
Webmaster |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Prem Nath Jain |
|
4600 |
|
Mr. Ashok Jain |
|
1280 |
|
Mrs Bimla Jain |
|
9500 |
|
Mr . kuldeep Jain |
|
2167 |
|
Mrs. Durga Outt |
|
2 |
|
Mr. Vishwanath Gupta |
|
1 |
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Mr. Omprakash Sharma |
|
1 |
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Mr. Rajesh Jain |
|
2 |
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Mr P S Rawat |
|
189 |
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Mrs. Munni Devi Jain |
|
1 |
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Mrs Saraswati Jain |
|
332 |
|
Mr. Prem Nath Jain (HUF) |
|
1080 |
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Mrs. Sudha Jain |
|
10 |
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Mrs, Anju Jain |
|
310 |
|
Mrs Rajni Jain |
|
80 |
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Mrs. Santosh Devi |
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2 |
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Mr. Kamlesh Bansal |
|
10 |
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Mrs. Sangeeta Jain |
|
810 |
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Mr. Narottam Lal Aggarwal |
|
10 |
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Mr. Joginder Kaur |
|
2770 |
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Mr. K L Garg |
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2 |
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Mr. Nishant Jain |
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2810 |
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Mr. Nitin Jain |
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1608 |
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Mrs. Nidhi Jain |
|
1850 |
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Mrs. Swati Jain |
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1927 |
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Mr Kuldeep Jain (HUF) |
|
20010 |
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Mr. A K sharma |
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2 |
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Mr. Ashok Jain (HUF) |
|
20004 |
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Mr. Sagar Jain |
|
1000 |
|
Mr. Sarwan Jain |
|
10000 |
|
Mrs. Granson Devi Sarbati |
|
17400 |
|
Mr. Sarwan Jain (HUF) |
|
40 |
|
Mr. Sudhir Jain |
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2 |
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Mr. Pradeep Jain |
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2 |
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Mrs. Veena jain |
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2 |
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Mr. Shakuntala Devi Jain |
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2 |
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Mrs. Mukta Jain |
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2 |
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Mr. Manish Jain |
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2 |
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Total
|
99822 |
Equity Share Break – up (Percentage of Total Equity):
|
Sr.
No. |
Category |
Percentage |
|
1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publisher of Homeopathic Books in different Language. |
GENERAL INFORMATION
|
Bankers : |
NA |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Mr. Mahender Garg Chartered Accountants |
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Address : |
24-A, SFS, DDA Flats, Motia Khan, |
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Associates/Subsidiaries : |
· B Jain Publishers Overseas Address: 1921/10, Chuna Mandi, Pahar Ganj, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity shares |
Rs.100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99830 |
Equity shares |
Rs.100/-
each |
Rs.9.983
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
9.983 |
9.983 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
3.484 |
3.255 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
13.467 |
13.238 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
|
8.056 |
3.079 |
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2] Unsecured Loans |
|
15.804 |
14.437 |
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TOTAL BORROWING |
|
23.860 |
17.516 |
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DEFERRED TAX LIABILITIES |
|
0.192 |
0.183 |
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TOTAL |
|
37.519 |
30.937 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
5.676 |
5.316 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
8.020 |
8.616 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
11.876 |
11.047 |
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Sundry Debtors |
|
27.402 |
12.407 |
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Cash & Bank Balances |
|
2.963 |
0.340 |
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Other Current Assets |
|
0.000 |
0.00 |
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Loans & Advances |
|
0.690 |
4.520 |
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Total
Current Assets |
|
42.931 |
28.314 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
18.714 |
8.124 |
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Provisions |
|
0.394 |
3.185 |
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Total
Current Liabilities |
|
19.108 |
11.309 |
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Net Current Assets |
|
23.823 |
17.005 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
|
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|
|
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TOTAL |
|
37.519 |
30.937 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
43.801 |
35.444 |
|
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Other Income |
|
0.752 |
0.831 |
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Total Income |
|
44.553 |
36.275 |
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|
Profit/(Loss) Before Tax |
|
0.900 |
0.653 |
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Provision for Taxation |
|
0.671 |
0.384 |
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Profit/(Loss) After Tax |
|
0.229 |
0.269 |
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Earnings in Foreign Currency : |
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Royalty |
|
0.031 |
0.100 |
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Total Earnings |
|
0.031 |
0.100 |
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|
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Expenditures : |
|
|
|
|
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Manufacturing Expenses |
|
9.836 |
10.210 |
|
|
Administrative Expenses |
|
1.963 |
1.511 |
|
|
Raw Material Consumed |
|
17.478 |
17.448 |
|
|
Purchases |
|
5.638 |
2.952 |
|
|
Selling & Distribution |
|
4.573 |
3.231 |
|
|
Personal Expenses |
|
2.705 |
2.272 |
|
|
Financial Charges |
|
2.086 |
1.837 |
|
|
Depreciation |
|
0.480 |
0.441 |
|
Total Expenditure |
|
44.759 |
39.902 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.51 |
0.74 |
|
|
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|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.05 |
1.84 |
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.85 |
1.94 |
|
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.06 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.19 |
2.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.13 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAIL:
B. Jain Group of
Companies
Dr. P.N. Jain founded B Jain Publishing Group in 1968. The company is an ISO 9001: 2000 certified group. The company initially started as a publishing house and then diversified into Printing, Homeopathic Software, Homeopathic Study Courses, Bookstore, Exports of Handicrafts and Women Accessories. The company also runs a Charitable Homeopathic Health Care Centre under the name of B. Jain Sarbati Devi Memorial Charitable Trust, B. Jain Foundation is a part of that trust. B. Jain Foundation helps in providing necessary education to the needy children, providing health facilities and aid to the poor. The company also runs an organization for the promotion of Homeopathy – CASH (Centre for Advanced Study in Homeopathy). CASH organizes regular quality seminars and workshop to promote quality homeopathy and also creates a platform for exchange of information within the homeopathic fraternity. The company is now venturing into the Homeopathic Pharmaceutical Industry with the aim to provide quality medicine at the most affordable price for the common man.
B. Jain Publishing
Group
The Publishing Group, an ISO 9001:2000 certified organization, has six book imprints and also publishes two monthly homeopathic journals, one monthly international journal on homeopathy and a bi-monthly lifestyle and health magazine.
The Group also has their printing units in
The Group publishes more than 120 books a year. To serve the
distributors better, expand the existing markets and to promote homeopathy
round the globe, The Company ventured into partnership with
Software Manufacturer, Archibel. This partnership helps in
promoting homeopathy in
This company is
the world’s largest publisher of Homeopathic Books. The imprint has about 1200
books in print and publishes about 70-80 new books a year. The company has
gained its name for providing best quality homeopathic content to the reader at
the most affordable price. The Editors at The company work hard to provide best
contentto the reader in all manner that a reader would like to have. The
company is one of the first publishers in
B. Jain Libros en
Español is an extension of B. Jain and publishes Homeopathic Books in
Spanish Language. It has published more than 150 books and publishes about 12
books a year. The books are sold in
Health Harmony was
introduced into the group in 1998 when the group felt the need of diversifying
into more branches of alternative health and other general interest areas
including Mind-Body-Spirit. The imprint has published about 700, books under
its name and is now considered as
Health Harmony Books enjoys a good book trade distribution
network with distributors all over
Leads Press publishes Non-Fiction books and so far has published books on subjects like Games, Puzzles, Travel, Business and various other topics. It has about 150 books in print. Established in 2004, it is now diversifying into many more subjects.
Impact was
started in 2005 seeing the growing need for books in Fashion and
Pegasus as an imprint publishes books in the fiction category. It aims at providing good quality content to both young and adult readers.
The Homoeopathic
Heritage was started in 1976 to disseminate quality information to the
homeopathic readers. It was the only medium used for exchange of information in
the homeopathic fraternity. It is the oldest circulated journal in
Homeobuzz, a
monthly students’ homeopathic journal was introduced to bridge the gap that
existed between homeopathic students all over the world. It was launched in
2006 and has been successful since. It is now taken as a serious course
material for all the students in
Health n Harmony,
a lifestyle bi-monthly magazine, was launched in early 2007 to promote
Alternative Health, Spirituality and other like-minded subject. The magazine
also provides latest tips and information on travel, new age and general
interest subjects. More than 25,000 copies are in circulation with readers in
Indian Subcontinent,
J.J. Offset
Printers was started in order to reduce high printing costs so as to
provide the reader with good quality books at affordable prices. The printing
unitwas established for only in house needs but later was expanded and is now
serving many Government and Private Sector units both in
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.39.33 |
|
|
1 |
Rs.79.74 |
|
Euro |
1 |
Rs.55.74 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|