MIRA
INFORM REPORT
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Report Date : |
28.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
JABBAL AUTO PRIVATE LIMITED |
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Registered Office : |
J-322, MIDC Bhosari, Pune – 411026, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.02.1996 |
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Com. Reg. No.: |
096880 |
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CIN No.: [Company
Identification No.] |
U27320PN1996PTC096880 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEJ00746E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Auto Press Parts |
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 71592 |
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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. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade term and conditions. The company might incur some losses during 2007-08 as informed by the
management. |
INFORMATION PARTED
BY
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Name : |
Mr. Raju Lokhande |
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Designation : |
Accountant |
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Contact No.: |
91-9823336789 |
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Date : |
26.04.2008 |
LOCATIONS
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Registered Office/ Factory : |
J-322, MIDC Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-4114057/ 58/ 27123466/ 27129004 |
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Mobile No.: |
91-9823010013 |
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Fax No.: |
91-20-4114052 |
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E-Mail : |
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Website : |
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Area : |
400 sq. meters |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Harbans Shingar Jabbal |
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Designation : |
Managing Director |
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Address : |
Plot No.164, Sector 27 A, Pradhikaran, Pune – 411044, Maharashtra,
India |
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Date of Birth/Age : |
59 years |
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Qualification : |
B. E. |
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Date of Appointment : |
02.02.1996 |
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Name : |
Mrs. Jasvindar Harbans Jabbal |
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Designation : |
Director |
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Address : |
Plot No.164, Sector 27 A, Pradhikaran, Pune – 411044, Maharashtra,
India |
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Date of Birth/Age : |
54 years |
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Qualification : |
Graduate |
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Date of Appointment : |
01.11.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Harbans Shingar Jabbal |
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255000 |
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Arpna Techno Chem Private Limited |
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10000 |
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Mr. Harbans Shingar Jabbal (HUF) |
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100 |
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Mr. D B Roy |
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100 |
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Mrs. Jasvindar Harbans Jabbal |
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90000 |
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Total |
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355200 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Auto Press Parts |
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Products : |
· Auto Press Parts · Rear Panel
Rickshaw Body · Automobile
Components · Assembly Bonnet
Hinge · Panel Outer
Outer Centre Flap · Panel Inner
Centre Flap · Height Gauge · Instrument for
Final Inspection · Safety Instruments · Sheet Metal
Pressed Components |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
20 |
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Bankers : |
· HDFC Bank Bhandarkar Road, Pune, Maharashtra, India ·
Citizens
Co-operative Bank Limited Pimpri Branch,
Plot No. 120 A, Survey No.1470, Pimpri Colony, Pune – 411017, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R V Navetia and Company Chartered Accountant |
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Address : |
26 Sagar Complex, Opp. Kasarwadi Railway Station, Pune – 411034,
Maharashtra, India |
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Associates/Subsidiaries : |
Yaposhika
Engineering Private Limited T – 24/26, MIDC, Bhosari, Pune (Manufacturer of Auto Press Parts) |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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355200 |
Equity Shares |
Rs.10/- each |
Rs.3.552 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.552 |
3.552 |
3.552 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.346 |
14.130 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.515) |
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NETWORTH |
17.898 |
17.682 |
3.037 |
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LOAN FUNDS |
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1] Secured Loans |
27.191 |
20.298 |
22.652 |
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2] Unsecured Loans |
0.258 |
0.233 |
0.568 |
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TOTAL BORROWING |
27.449 |
20.531 |
23.220 |
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DEFERRED TAX LIABILITIES |
0.660 |
0.733 |
0.531 |
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TOTAL |
46.007 |
38.946 |
26.788 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
52.099 |
28.112 |
11.475 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.402 |
1.319 |
0.818 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.000
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0.000 |
0.000 |
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Other Current Assets |
58.487
|
78.703 |
60.001 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
58.487
|
78.703 |
60.001 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
65.981
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69.188 |
45.509 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
65.981
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69.188 |
45.509 |
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Net Current Assets |
(7.494)
|
9.515 |
14.492 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
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TOTAL |
46.007 |
38.946 |
26.788 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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161.272 |
274.754 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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161.272 |
274.754 |
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Profit/(Loss) Before Tax |
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0.276 |
0.726 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.276 |
0.726 |
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Expenditures : |
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Interests |
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8.517 |
2.584 |
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Depreciation |
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1.901 |
1.763 |
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Other Expenditure |
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150.578 |
269.681 |
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Total Expenditure |
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160.996 |
274.028 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.17
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0.26 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.17
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0.26 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.25
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0.68 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.01
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0.04 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.22
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5.07 |
22.63 |
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Current Ratio (Current Asset/Current Liability) |
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0.87
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1.14 |
1.32 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
Tata Motor, Pune
·
K L T Auto Limited, Pune
·
A S A L Company, Pune
Form 8:
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Name of the company |
JABBAL AUTO PRIVATE LIMITED |
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Presented By |
JABBAL AUTO PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Agreement top
mortgage (By depositing Title Deeds) Dated 21st October, 1999. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.13.000
Millions Comprising PM
Loan of Rs.5.000 Millions CC Hypothecation
Loan Rs.8.000 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 |
All that piece
and parcel property plot No.J-322 in the Pimpri Industrial Estate within the
village limits of Bhosari and which the limit of Pimpri Chinchwas Municipal
Corporation Taluka and Suburb Registration District Haveli and District and
Registration District Pune contained by admeasuring 1428.00 sq. mtrs factory
building, the office totally built up admeasuring 984 sq. mtrs and having the
MSEB load of 100 kw and the compound wall to the factory a Office and within
the limits of sub registration Haveli No. V together with right to the use
and easement in all respect and all
appurtence thereto and is bounder as under: On or towards – East : By J 321,
West : By J 323 North : By J 331
and South : By Road. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of
Interests: 18% p.a. or such
rages as may be fixed from time to time by the Bank. Penal interests @2% p.a.
is leviable for default Repayment: PM Loan repayable
in 60 monthly installments of Rs.0.126 Millions along with Interests C/C repayable
within 12 months along with interests. First of such
installment becomes due on or before the expiry of one month from the date of
disbursement of the loans. |
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5) Name and Address and description of the person entitled to the charge. |
Citizens
Co-operative Bank Limited Pimpri Branch,
Plot No. 120 A, Survey No.1470, Pimpri Colony, Pune – 411017, India |
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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 |
Profile:
The Jabbal Group
of Industries are small scale industries engaged in manufacturing of Sheet
Metal Press Components and Welded Components supplying to the industrial Giants
Tata Engineering and Locomotive Company Limited, and Bajaj Auto Limited. The promoters
of the group are highly technical and competent to meet the challenge of the
market.
The business of this group is situated at the heart of the
industrial belt and very near to their customer. The unit is controlling
inventory for 4/8 hours at customer and as the unit is self certified unit for
both the customer which implies direct supply on assembly line without any
quality inspection.
The unit is leading towards ISO 9002 in near future for meeting
the future demand of the customer. The group has taken over one sick unit
consisting of 8097 Sq. Mtr. land by name of Yapishika Engineering Private
Limited. The unit is situated at very prim location. The group has already
started engineering activities and sophisticated Tool-Room at the same site.
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.40.18 |
|
UK Pound |
1 |
Rs.79.25 |
|
Euro |
1 |
Rs.62.90 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
|
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 |
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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 |
|
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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