MIRA
INFORM REPORT
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Report Date : |
19.10.2007 |
IDENTIFICATION DETAILS
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Name : |
JAIN
HYDRAULICS PRIVATE LIMITED |
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Registered Office : |
10066,
Multani Dhanda, Street No. 1, First Floor, Paharganj, New Delhi – 110055 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.05.1981 |
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Com. Reg. No.: |
55-11738 |
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CIN No.: [Company
Identification No.] |
U74899DL1981PTC011738 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ03573D |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Manufacturers
of Hydraulic and Mechanical Machines |
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 : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Directors are
reported as experienced, respectable and resourceful businessmen. Their trade
relations are fair. Payments are usually correct and as per commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
10066,
Multani Dhanda, Street No. 1, First Floor, Paharganj, New Delhi – 110055,
India |
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Tel. No.: |
91-11-23629639 / 23610291 / 23523966 / 23629689 |
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Fax No.: |
91-11-25504343 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 86,
Sector – 3, IMT-Manesar, Gurgaon |
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Tel. No.: |
91-124-4369302 to
05 |
DIRECTORS
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Name : |
Mr.
Ajay Kumar Jain |
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Designation : |
Managing Director |
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Address : |
A-289, Vikas Puri, |
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Date of Birth/Age : |
16.08.1956 |
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Date of Appointment : |
19.05.1981 |
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Name : |
Mr.
Ajay Jain |
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Designation : |
Director |
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Address : |
A-286 Vikas Puri, |
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Date of Birth/Age : |
26.02.1967 |
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Date of Appointment : |
05.08.2002 |
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Name : |
Mr.
Aditya Jain |
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Designation : |
Director |
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Address : |
A – 206, Mahendra Apartment, Vikaspuri, |
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Date of Birth/Age : |
09.07.1969 |
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Date of Appointment : |
01.03.1987 |
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Date of Ceasing : |
01.07.2005 |
KEY EXECUTIVES
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Name : |
Arun
Kumar Arora |
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Designation : |
Company Secretary |
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Address : |
Flat No. 7, DDA Flats, |
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Name : |
Akhil and Company |
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Designation : |
Company Secretary |
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Address : |
139, Om |
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Mobile No.: |
91-9818799371 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Ajay
Kumar Jain |
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37915 |
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Aditya
Jain |
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6825 |
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Ajay
Jain |
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12200 |
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Mantch
Leasing and Finance Company Private Limited |
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10000 |
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Ankit
Jain |
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1680 |
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Piyush
Jain |
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250 |
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Praveena
Jain |
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8650 |
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Amnoj
Kumar Jain |
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1000 |
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Vibha Jain |
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9850 |
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Others
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70 |
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Total |
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88440 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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88.63 |
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Other top fifty shareholders |
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11.37 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Hydraulic and Mechanical Machines |
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Products : |
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Export to : |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
v
Bank of v
HDFC Bank Limited v
Standard Chartered Bank v
ICICI Bank Limited v
American Express Bank Limited v
Citi Bank NA v
Kotak Mahindra Bank Limited |
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Facilities : |
Loan
from Bank of India (loan against securities, hypothecation of stocks and book
debts) Standard
Chartered Bank: Vehicle Loans (against Hypothecation of cars) ICICI
Bank Limited (against Hypothecation of Motorcycle) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raj
Kumar and Associates Chartered
Accountants |
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Address : |
Rajendra
Mansion, 19-A, Ansari Raod, Darya Ganj, New Delhi- 110002, India |
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Tel. No.: |
91-11-41563091 /
41563092 / 41563093 |
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Fax No.: |
91-11-41563095 |
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E-Mail : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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88440 |
Equity
Shares |
Rs. 100/- each |
Rs. 8.844 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.844 |
5.964 |
3.494 |
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2] Share Application Money |
0.030 |
0.060 |
0.000 |
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3] Reserves & Surplus |
2.930 |
2.188 |
1.482 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.804 |
8.212 |
4.976 |
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LOAN FUNDS |
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1] Secured Loans |
25.101 |
14.731 |
5.507 |
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2] Unsecured Loans |
1.104 |
2.108 |
0.714 |
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TOTAL BORROWING |
26.205 |
16.839 |
6.221 |
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DEFERRED TAX LIABILITIES |
1.105 |
0.701 |
0.372 |
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Others |
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0.000 |
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TOTAL |
39.114 |
25.752 |
11.569 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.963 |
17.590 |
4.950 |
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INVESTMENT |
1.826 |
1.767 |
1.686 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
23.546
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14.285
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5.378 |
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Sundry Debtors |
8.945
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5.503
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14.651 |
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Cash & Bank Balances |
0.319
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1.360
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0.518 |
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Other Current Assets |
5.736
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0.802
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0.968 |
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Loans & Advances |
0.756
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2.175
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0.291 |
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Total Current Assets |
39.302
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24.125
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21.806 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
21.838
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17.316
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16.923 |
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Provisions |
0.196
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0.451
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Total Current Liabilities |
22.034
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17.767
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16.923 |
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Net Current Assets |
17.268
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6.358
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4.883 |
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MISCELLANEOUS EXPENSES |
0.057 |
0.037 |
0.050 |
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TOTAL |
39.114 |
25.752 |
11.569 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover Including Other Income |
57.891 |
77.908 |
53.530 |
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Total Income |
57.891 |
77.908 |
53.530 |
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Profit/(Loss) Before Tax |
1.342 |
1.152 |
0.893 |
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Provision for Taxation |
0.600 |
0.445 |
0.338 |
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Profit/(Loss) After Tax |
0.742 |
0.707 |
0.555 |
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Expenditures : |
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Total Expenditure |
56.549 |
76.756 |
51.709 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
1.28
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0.91
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1.04 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.32
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1.48
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1.67 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.26
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2.76
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3.34 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.14
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0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.09
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4.21
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4.65 |
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Current Ratio (Current Asset/Current Liability) |
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1.78
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1.36
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1.29 |
LOCAL AGENCY FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
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Name of the company |
JAIN HYDRAULICS PRIVATE
LIMITED |
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Presented By |
Bank of |
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1) Date and description of instrument creating the change |
No Instrument,
Oral Assent given by deposit of title deeds on 01.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 27.500
Millions |
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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 |
Equitable mortgage
of landed properties of the company situated at Plot No. 86, Sector – 3, IMT,
Manesar, Gurgaon [Haryana] |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure
all amounts payable under the following credit facilities granted to enjoyed
by the expenses, commission etc :
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
NA |
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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 |
AS PER WEBSITE
PROFILE:
Thirty Five years ago, subject was known as manufacturers of
small Hydraulic Baling Presses for bundling iron & Steel scrap, when JHPL
has started manufacturing of these machines in
With the passage of time, after gaining long experience and
putting in continuous R&D work in the design and development of the latest
type of scrap processing machines the company can rightfully claim to have
achieved its largest of making the latest, rigid, compact and roboust machines
which are running trouble free in comparison to any other class machine.
Now, subject is well known in the feild of scrap processing
machines of ferrous and non-ferrous scrap, paper waste, cotton waste or any
other waste material, Pressing and Bundling. There is no other parallel in
They have a solid reputation for after sale service all
over. The machines are running to the entire satisfaction of the buyers in
Subject is also a distributor for Rexroth Bosch, Hydraulic
Pumps, Valves & other products. They are also dealing in Parker brand
Hydraulics. Rexroth Bosch and Parker are the world leaders in Hydraulics.
Subject has initially diversified and developed Bio-medical
waste sterlisation equipment and hazerdos medical waste, it sterlise first into
lumps then shreds into small pieces which becomes pure non-toxic waste.
Besides, subejct has diversified its related Hydraulic field
and has come up with a wide range of other type of hydraulic machines.
QUALITY
Subject is a committed, competent and highly motivated
Workforce, integrated into conducive and strong culture. Subject has the most
modern Manufacturing and Testing facilities in
They are unendingly striving towards Improvement of their
Quality Management Systems with their objective of doing the things right, the
first time and every time. Their growing markets and Customer base is an
indicator of their continuous efforts towards the achievement of their goal of
Customer Delight.
Their "Quality Centered" team approach of
manufacturing ensures Products of the finest Quality, providing environment
friendly scrap processing solutions globally.
Their standards of Customer Service distinguish them from
their competitors. Their focus is to identify the needs of the Customer in
terms of Quality, Performance, Delivery and to provide the product at the right
price. They pursue open and long term relationships based on mutual gains and
encourage Win / Win relationships with their Customers and Suppliers.
STRENGTHS
While their greatest strength is the ability to understand the client goals, their success is very much attributed to strong teamwork, continuous R&D and the dedication and commitment of each and every member of the JHPL family to deliver unsurpassed quality and reliable products & services to the total satisfaction of all their customers.
They believe that their historical success and future prospects
are directly related to a combination of strengths, including the following :
» Best ‘Speed to Market’ in Industry
» Cost efficiency
» World class technology
» Global scale of operations
» Product range and expansion lend scalability to operations
» Comprehensive CAD/CAM/CAE and product development
capability
» High Quality, motivated Human Resources
These extensive resources combined with their dedication to
the highest professional standards enables them to support a wide range of
their clients' business needs.
They commit themselves to total customer satisfaction by
delivering world-class products and services.
Vision:
The Company’s vision is to produce high quality products and
make value addition to its customers 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.39.79 |
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|
1 |
Rs.81.62 |
|
Euro |
1 |
Rs.56.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
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 |
|
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. |
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 |
|