MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
JINDAL MECTEC PRIVATE LIMITED |
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Formerly Known As : |
JINDAL MECTECNO PRIVATE LIMITED |
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Registered Office : |
B 29, Sanjay Market PKT 3, Sector 2, Rohini, New Delhi – 110085. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
03.11.1993 |
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Com. Reg. No.: |
55-055919 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC055919 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ04449E |
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PAN No.: [Permanent
Account No.] |
AAACK1091J |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturers Of All Kinds Of Plastic Goods, Polythene
Bags, Resins, Dyes, Chemical Pigments, Plasticisers And Lubricants Etc., PVC
Goods. |
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 2000000 |
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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 and reputed company having satisfactory track. Directors are reported as experienced and respectable businessmen. Their trade relations are 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 : |
B 29, Sanjay Market Pocket 3, Sector 2, Rohini, New Delhi – 110085,
India. |
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Tel. No.: |
91-11-27512283/84 |
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Fax No.: |
91-11-27513541 |
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E-Mail : |
Sumit.mittal@sarvpriya.in |
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Head Office : |
Old Manesar Road, Village Narsinghpur, Gurgaon- 122001, Haryana , India |
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Tel. No.: |
91-124-5086401 / 4086401 |
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Fax No.: |
91-124-5030807 |
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Mobile No.: |
91-9891599060 |
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E-Mail : |
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Website : |
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Area : |
5 acres (Owned) |
DIRECTORS
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Name : |
Mr. Pawan Jindal |
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Designation : |
Director |
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Address : |
40, Bhagirati Plot No. 13/1, Sector 9, Rohini, Delhi – 110085, India. |
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Date of Birth/Age : |
03.01.1952 |
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Date of Appointment : |
03.11.1993 |
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Name : |
Mr.Shiv K. Sharma |
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Designation : |
Director |
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Address : |
7, Amardeep, Plot No. 13/2, Sector – 9, Rohini, Delhi – 110085, India. |
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Date of Birth/Age : |
29.04.1963 |
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Date of Appointment : |
02.11.1997 |
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Name : |
Mr. Vivek Jindal |
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Designation : |
Director |
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Address : |
26-B, Samay Vihar Apartment, Sector – 13, Rohini, Delhi – 110085, India. |
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Date of Birth/Age : |
24.10.1978 |
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Date of Appointment : |
30.09.2003 |
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Name : |
Mr. Abhishek Jindal |
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Designation : |
Director |
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Address : |
27-B, Samay Vihar Apartment, Sector – 13, Rohini, Delhi – 110085 |
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Date of Birth/Age : |
09.09.1980 |
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Date of Appointment : |
05.02.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2008
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Names of Shareholders |
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No. of Shares |
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Mrs. Anita Jindal |
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180030 |
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Mrs. Jyoti Jindal |
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210010 |
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Mr. Vivek Jindal |
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105010 |
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Mr. Abhishek Jindal |
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105020 |
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Mr. Saurabh Jindal |
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110010 |
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Mr. Gaurav Jindal |
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110010 |
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Mr. Pawan Jindal |
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315010 |
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Jindal Finlease Private Limited |
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150000 |
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Jindal Jyoti Pre Fab Private Limited |
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1000000 |
AS ON 31.03.2008
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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36.00 |
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Directors or relatives of directors |
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64.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers Of All Kinds Of Plastic Goods, Polythene Bags,
Resins, Dyes, Chemical Pigments, Plasticisers And Lubricants Etc., PVC Goods. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Cash or Credit (60 days) |
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Purchasing : |
L/C or Credit |
GENERAL
INFORMATION
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Suppliers : |
Ř Shree Krishan
Security Service Ř Maxmi Kumarn And
Sridharan Ř Ispat Industries
Limited Ř Ganesh Ji
Maharaj Ř Goel And Ashok
Associates Ř Denver Security
Services Private Limited |
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Customers : |
Ř Acme Ř Ace Engineering Company Ř Vasu Associates Ř SKH Metals
Limited Ř Adhunik Enercon
Private Limited Ř BDS Décor And
Prefab Private Limited Ř Blue Star
Limited Ř Delhi Cold Store
Private Limited Ř Hind Industries
Limited Ř Shri Balaji
Furnishers Private Limited |
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No. of Employees : |
350 |
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Bankers : |
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Facilities : |
Secured Loans As
On 31.03.2008
Unsecured Loans As
On 31.03.2008
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Goyal Mahajan And Associates Chartered Accountant |
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Address : |
SCF – 50, 1st Floor, Leela Bhawan Complex, Rohak – 124001,
Haryana, India. |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- Each |
Rs.50.000
Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1785100 |
Equity Shares |
Rs. 10/- Each |
Rs.17.851 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
17.851 |
12.851 |
12.851 |
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2] Share Application Money |
132.325 |
73.277 |
17.027 |
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3] Reserves & Surplus |
83.966 |
36.041 |
23.367 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
234.142 |
122.169 |
53.246 |
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LOAN FUNDS |
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1] Secured Loans |
510.846 |
149.370 |
99.275 |
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2] Unsecured Loans |
94.828 |
56.158 |
48.866 |
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TOTAL BORROWING |
605.674 |
205.528 |
148.141 |
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DEFERRED TAX LIABILITIES |
11.123 |
8.963 |
7.826 |
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TOTAL |
850.939 |
336.660 |
209.213 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
117.699 |
83.542 |
60.009 |
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Capital work-in-progress (Including advance for land) |
384.202 |
12.696 |
7.974 |
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INVESTMENT |
0.502 |
0.502 |
0.333 |
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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 |
206.290
|
122.878 |
90.242 |
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Sundry Debtors |
181.140
|
117.582 |
92.753 |
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Cash & Bank Balances |
17.443
|
16.817 |
6.144 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
39.950
|
32.175 |
3.673 |
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Total
Current Assets |
444.823
|
289.452 |
192.812 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
96.287
|
49.143 |
49.422 |
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Provisions |
0.000
|
0.389 |
2.493 |
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Total
Current Liabilities |
96.287
|
49.532 |
51.915 |
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Net Current Assets |
348.536
|
239.920 |
140.897 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
850.939 |
336.660 |
209.213 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
1269.428 |
652.662 |
686.700 |
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Other Income |
8.255 |
2.001 |
NA |
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Total Income |
1277.683 |
654.663 |
686.700 |
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Profit/(Loss) Before Tax |
38.373 |
19.924 |
10.133 |
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Provision for Taxation |
15.334 |
7.136 |
NA |
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Profit/(Loss) After Tax |
23.039 |
12.788 |
NA |
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Expenditures : |
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Manufacturing Expenses |
1171.577 |
600.404 |
NA |
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Administrative Expenses |
30.745 |
18.750 |
NA |
|
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Increase/(Decrease) in Finished Goods |
(2.273) |
(3.983) |
NA |
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Financial Expenses |
33.096 |
15.334 |
NA |
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Depreciation & Amortization |
6.165 |
4.234 |
NA |
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Total Expenditure |
1239.310 |
634.739 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
1.80
|
1.95 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
3.02
|
3.05 |
1.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.05
|
5.15 |
3.88 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.16 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.99
|
2.08 |
3.75 |
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Current Ratio (Current Asset/Current Liability) |
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4.61
|
5.84 |
3.71 |
LOCAL AGENCY
FURTHER INFORMATION
Subject was formerly
known as ‘K. J. Polymers Private Limited’, its name and management was changed
on 30.10.2003.
Subject is in trade
terms with the following:
- Krishna Maruti Limited, Gurgaon
- Ispat Industries Limited, New Delhi
- Bharat Seats Limited, Gurgaon
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This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1993PTC055919 |
|
Name of the
company |
JINDAL MECTEC PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B 29, Sanjay Market PKT 3, Sector 2, Rohini, New Delhi – 110085,
India. |
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Type of charge |
Immovable property Book debts Movable property (not being pledge) Others |
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Particular of
charge holder |
Canara Bank, Parliament Street, New Delhi – 110001, India. |
|
Nature of
description of the instrument creating or modifying the charge |
I.
Deed of hypothecation Rs : Machinery
II.
Agreement Re : Collateral security : Machinery ; Vehicles
III.
Letter evidencing deposit of title deeds 3 Nos. |
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Date of
instrument Creating the charge |
27.04.2007 |
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Amount secured by
the charge |
Rs.330.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest The above is to
secure TL limit of Rs. 330.000 millions with interest at 2% per annum below
the ongoing BPLR with a minimum of 11.25% per annum or such rates as may be
stipulated by the bank from time to time. Terms of repayment The loan
repayment in 24 quarterly installments each of Rs. 13.750 millions. |
|
Short particulars
of the property charged |
Prime: 1st
charge on all the fixed assets including all P and M of the company. Collateral: All
the current assets including stocks and B/D including of factory L and B
situated at (i) old manesar road, Vill – Narsinghpur, the district Gurgaon
and Khewat No. 301, Khata No. 441, 440 and 446 Mustatil, Khasra No. 1, Killa
No.19/2 (2-14), Killa No. 19/3 (2-15) and Killa No. 19/1 (2-10) (ii) Khewat
No. 60, Khatta No. 80, Mauza Sivana Narsinghpur Gurgaon. (iii) Khewat No. 65,
48, 12, 59, 64, 65, souri 132 Nalagarh Solan. |
Contingent
Liabilities as on 31.03.2008
Bank Guarantee Rs.93.238 Millions
FIXED ASSETS
Ř Land
Ř Factory Building
Ř Machinery
Ř Vehicles
Ř Tools And Equipment
Ř Computer
Ř Office Equipment
Ř Air Conditioner
Ř Mobile Phones
Ř Cycle
Ř Plant And Machinery
Ř Furniture And Fixtures
Ř Trolly
Ř Conveyor
Website Details Attached:
Jindal Mectecno (Formerly KJ Polymers) is an established
manufacturer of a variety of Architectural & Building Products, Inter-alia;
Trapezoidal Profiled Sheets, Puf-Insulated Panels, Cold-Chain Products, CRF
Sections, Modular Pre-Fab Units, and Pre-Engineered Building Systems.
JMPL an ISO-9001 accredited Organization is equipped with
most modren computer-controlled, high-speed production machinery at their
Gurgoan Works offers a wide range of Architectural & Building
Products,Integrated Systems and Complete Solutions with Single source
responsibilitiy.
The Range includes;
Trapezoidal Profiled Sheets for Roofing, Cladding and Steel Decking.
Cold Roll-formed Sections.
Puf-Sandwich Panels.
Prefab Modular Units & Shelters.
Pre Engineered Metal Buildings.
Jindal Mectecno- A new star on the Horizon.
Products
Architectural & Building Products
Roofing and Cladding Metal Profiled
Sheets
Cold Chain Units
Facilities:
Jindal Mectecno is equipped with fully automated computer
controlled cut to length made bending and shearing machine C-form cutting
machine, Tung and groove profile machine.
Jindal mectecno fabrication shop houses most modern hi-production
state-of-the-art plasmax Arc cutting machine and sub merged Arc wielding
machine from messr's Germany and Lincoln U.S.A.
Clients:
- Delhi Metro
- IMA
- PGCIL
- CPWD
- Nestle
- Glaxo Smith
Kline
- LG
- Unitech
- Polo
Amusement Park
- Marico
- Indian Army
- CWC
- Indian
Railway
- Carrier
Aircon
- Punj Llyod
- Raddisson
Hotel
- ONGC
- Berger Paints
- NDPL
- Dabur
- Flex-Foods
- Sono Koyo
- Zeppelin
References:
|
Projects |
Nature of Job |
|
S.S.N. School, Dagshai. H.P. |
P E B with Sandwich Panels |
|
D.A.V School, Nabha Punjab |
P E B-15,000Sft |
|
D.A.V. Institute Of Management, Faridabad |
P E B |
|
Sarvpriya Industries Ltd. IMT, Manesar(Hr) |
P E B-18,000Sft |
|
Sri Ram Guargum Industries, Bhatinda(Pb) |
P E B-10,000Sft |
|
Kejriwal Becare India, Rajpur(Pb) |
P E B With Sw Panel |
|
Delhi Metro. Seelampur, Tishazari, Rohini |
Roof Sheeting 2,00,000Sft |
|
Fun-N-Food Amuesment Park, Gurgaon(Hr) |
Insulated Panels For 90,000Sft. Skating Hall |
|
Indian Military Academy, Dehradun |
Roofing Sheets 8.000Sqm |
|
Welham Boys School, Dehradun |
Roofing Sheets 2,000Sqm |
|
Marico Industries, Dehradun |
Roofing Sheets |
|
C.P.W.D.-Survey Of India & I.I.T. Roorkee(U.P) |
Roofing Sheets |
|
Mahadev Industries, Narsinghpur, Gurgaon(Hr) |
P E B-15,000Sft. |
|
Telcom Shelters For Reliance,Airtel,Hutch At&T,Motorola Tatamobile
And Rpg |
Over 5,000 Units |
|
Power Grid Corporation Of India Limited |
Telecom Shelters |
|
Indian Railways |
Telecom Shelters |
|
Indian Army-Ladakh Area |
Defence Shelters Over 200 Units |
|
Ambedkar Open University, Hyd. |
Roofing Sheets |
|
Berger Paints,Jammu |
Roofing Sheets-1,50,000Sft. |
|
Umkal Hospital, Gurgaon(Hr) |
Sandwich Panels |
|
New Delhi Power Limited |
Roofing Sheets |
|
C.P.W.D. New Delhi |
Barrier Cordon Sheets |
|
Krishna Maruti Limited (Dtd) |
Roofing Sheets |
|
Central Warehousing Corporation Limited |
Roofing Sheets 2,50,000Sft. |
|
Majestic Auto Limited , Ludhiana |
Roofing-40.000 Sft. |
|
Intll. Electron Devices Limited , Kanpur |
Roofing 10,000Sft. |
|
Uttam Sugar Mills, Up |
Roofing 2,00,000Sft. |
|
Highway Toll Plaza,Mathura (Up) |
Roofing 20,000Sft. |
|
Mehta Industries, Ludhiana |
Roofing 20,000Sft. |
|
Jindal Niryat Ltd., Gandhidham & Delhi |
Roofing 50,000Sft. |
|
Guru Maa Ashram Trust, Ganaur |
Roofing 20,000Sft. |
|
Ras Hotels- Kufri (Shimla) |
Tiled Roofing |
|
Dabur India Limited |
Insulated Roofing 80,000Sft. |
|
DLF City Centre, Gurgaon (Hr) |
Roofing Sheets |
|
Nestle India Limited , Moga & Samalkha |
Insulated Roofing 20,000Sft. |
|
Glaxo Smithklein Beecham Limited |
Insulated Roofing 10,000Sft. |
|
Perfetti India Limited , Gurgaon |
Roof Sheeting 1.00,000Sqm + Cold Rooms |
|
Flex Food Limited , Dehradun |
Cold Rooms |
|
Oil & Natural Gas Commission(ONGC) |
Roofing 40,000Sft. |
|
Kendriya Vidalaya, Dehradhun |
Roofing 7,000Sft. |
|
Indian Institute Of Remote Sensing |
Roofing Sheets |
|
Garwwal Mandal Vikas Nigam |
Roofing Sheets 40,000Sft. |
|
Tibetan Homes Foundation |
Roofing Sheets 40,000Sft. |
|
Govt. Of Uttaranchal, Krida Kandra, D-Dun |
Roofing Of 15,000Sft. |
|
Uttaranchal Power Corporation Limited
|
Roofing Sheets |
|
Pearlescent Maritech, Andaman Islands |
Oyster Lab Panels |
|
Abhishek Industries, Barnala |
Roof Sheeting |
|
Parliament Library, New Delhi |
Cold Rooms |
|
L.G. Electronics Limited , Noida(Up) |
Insulated (Ca) Chambers |
|
Carrier Aircon Limited |
Ahu Box Panels |
|
Bengal Rooling Shutters |
Roofing Sheets |
|
Sona Koyo Steering Systems Limited. |
Roofing Sheets 10,000Sft. |
|
Re. Agro Limited , Rewari |
Roofing Sheets |
|
Radisson Hotel, New Delhi |
Insulated Panels |
|
Kohinoor Biscuits, Delhi |
Roofing Sheets |
|
Darshan Foods P. Limited. |
Cold Rooms |
|
Jaycee Coach Builders |
Refrigerated Vehicle |
|
Keberg Food Industries |
Refrigerated Vehicle |
Approvals
- Jindal Mectecno is an ISO-9001 Accredited by TUV India.
2. Power Grid Corpn. of India Ltd. has approved us as a Vendor For Telecom Shelters.
3. Delhi Metro Rail Corpn. has approved us as a Vendor for Profiled Roofing
Sheets.
4. All the telecom companies have approved the Telecom Shelters Sourced from us
by all major
contractors.
5. MES has approved us as a Vendor for Tile Profiled Sheets.
6. Ministery of Defence has approved us as a Sub-Vendor for supply of Shelters.
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.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
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. |
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 |
|