MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
JINDAL ALUMINIUM LIMITED |
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Registered Office : |
Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
11.06.1975 |
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Com. Reg. No.: |
08-02806 |
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CIN No.: [Company
Identification No.] |
U85110KA1975PLC002806 |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
manufacturer of Aluminium Extruded
Profiles |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 47000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the Jindal Group of
Industries, a renowned industrial house in India. The company’s products are
Aluminum Extrusion/Profiles used by almost all types of industries. The
company is progressing well. Directors are very resourceful and respectable
industrialists. Their trade relations are fair. Payments are usually correct
and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions. It is highly credit worthy. |
LOCATIONS
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Registered Office / Works : |
Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka |
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Tel. No.: |
91 - 80 - 23715555 (6 Lines) |
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Fax No.: |
91 - 80 - 23713333 |
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E-Mail : |
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Website : |
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Area : |
150000 sq. ft. (30 acre land) |
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Location : |
Owned |
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Note : |
Due to road widening work in progress their regular telephone nos. are not working. |
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Tel. No.: (New ) |
91-80-22791626 / 22791627/
22791628 / 22791638 / 22791675 |
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Fax No.: |
91-80-22791630 / 22791645 |
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Branches : |
NEW DELHI ·
Naturelle,11 Green Avenue, · 1/6 B, Asaf Ali Road, New Delhi -110 002 MUMBAI ·
24A, Nariman Bhavan , · Guru Ramdasware Housing Complex, Opp. Hotel Parijat, Gardhan Dhabad, Ghat No. 2347, Wagholi, Pune – 411007, Maharashtra Tel. No. 91-212-27051037 · 4/6, Prasad Chambers, Sudeshi Mill Compound, Mumbai - 400 004, Maharashtra Tel No. 91-22-23623408 Fax No. 91-22-23620191 · Goyal Warehousing, RTC Compound, 11 KM, Wagholi, Pune – 411 007, Maharashtra Tel. 91-20-27051037 BHIWANDI CHENNAI AHMEDABAD KOCHI PUNE Andhra Pradesh 6-6-498, Gandhinagar, Bansilapet, Secunderabad – 500080, Andhra Pradesh Tel. No. 91-40-27537293 Coimbatore Door No. 355, Patel Road, Ram Nagar, Coimbatore – 641009 Kerala · Door No. 41/155, Amman Kovil Road, Emakulam, Kochi – 682035, Kearla Tel. 91-484-2366456 E-mail. jalcochin@jindalaluminium.co |
DIRECTORS
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Name : |
Mr. S R Jindal |
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Designation : |
Chairman and Managing Director
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Address : |
Tumkur Road, Bangalore-560 073, Karnataka |
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Date of Birth/Age : |
12.09.1933 |
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Date of Appointment : |
01.07.2008 |
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Name : |
Mr. H S Bansal |
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Designation : |
Vice Chairman and Executive Director |
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Address : |
Bansal Bhatta Road, Vasant Kunj New Delhi-110 048 |
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Date of Birth/Age : |
22.09.1945 |
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Date of Appointment : |
03.09.2007 |
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Name : |
Mr. D P Jindal |
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Designation : |
Senior Vice Chairman |
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Address : |
B -57, Greater Kailash, Part -1, New Delhi – 110 048 |
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Date of Birth/Age : |
15.02.1950 |
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Date of Appointment : |
16.08.2005 |
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Name : |
Mr. K R Raghunath |
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Designation : |
Managing Director |
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Address : |
1202, Shanthala, 2nd Stage Rajaji Nagar Bangalore-560 073 ,
Karnataka |
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Date of Birth/Age : |
23.02.1945 |
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Date of Appointment : |
01.09.2007 |
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E-Mail : |
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Name : |
Mrs. Vaidehi Kanoria |
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Designation : |
Director |
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Address : |
A – 45, Vasant Marg, Vasant Vihar, New Delhi – 110 048 |
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Date of Birth/Age : |
27.10.1983 |
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Date of Appointment : |
01.11.2007 |
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Name : |
Mr. Vipin Jain |
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Designation : |
Director |
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Address : |
Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka |
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Date of Cessation : |
28.07.2006 |
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Name : |
Mr. Sitaram Jindal |
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Designation : |
Director |
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Address : |
Jindal Aluminium Limited, Jindal Nagar,Tumkur Road, Bangalore – 560 073,
Karnataka |
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Date of Birth/Age : |
02.09.1933 |
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Date of Appointment : |
11.06.1975 |
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Name : |
Mr. R. D. Garg |
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Designation : |
Monitoring Director |
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Name : |
Mr. Sajjan Jindal |
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Designation : |
Director |
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Date of Birth |
5/12/1959 |
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Date of Appointment : |
23/07/2002 |
KEY EXECUTIVES
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Name : |
Mr. Naresh Prasad Mathur |
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Designation : |
Secretary |
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Address : |
Jindal Nagar Tumkur Road, Bangalore – 560 073, Karnataka |
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Date of Birth/Age : |
22.08.1962 |
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Date of Appointment : |
28.7.2006 |
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Name : |
Mr. Dinesh Singh |
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Designation : |
Secretary |
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Address : |
Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka |
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Name : |
Mr. G. Rajendren |
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Designation : |
Company Secretary |
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Name : |
Mr. Gopinathan |
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Designation : |
Manager – Exports |
SHAREHOLDING
PATTERN
AS ON 30.09.2008
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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0.12 |
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Bodies corporate |
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25.24 |
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Directors or relatives of directors |
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44.70 |
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Other top fifty shareholders |
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29.94 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
manufacturer of Aluminium Extruded
Profiles |
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Products : |
Ř Bars
and Tubes Ř Angles, Channels and Tees Ř Tower Bolts, Hinges, Latch, Caldron, Grill Frames, Ladders Ř Curtain Wall, Hand Rails, Handles, Venetian Blind and Drapery Ř Exhibition, G-Channel, Table Corner, Glass Sections Ř Architectural and Structural Ř Bus Body and Moulding Ř Heat Sink, Airgrill Ř Industrial and General
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Exports : |
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Countries : |
UK, Middle East / Gulf, Germany, Switzerland and Far East. |
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Imports : |
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Countries : |
UK, Germany, Middle East,
Gulf Markets, Sri Lanka, Singapore, Israel, Australia, Switzerland,
Holland, China, Europe, USA, Japan ,Far East/ Asian Markets |
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Terms : |
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Selling : |
L/C – 60 days, D/P Basis and CAD Local : Credit and Other terms |
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Purchasing : |
Credit (60 days) L/C and CAD terms |
PRODUCTION STATUS (As on 31.03.2003)
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Particulars |
Unit |
Actual Production |
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Aluminum Extrustions |
MT |
26153.829 |
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Copper Extrustion |
MT |
40.034 |
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Wind Energy |
Unit |
15700676 |
GENERAL
INFORMATION
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Suppliers : |
Ř
Kind and Company, UK Ř Century
Fabtech Private Limited |
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Customers : |
Ř Hindustan
Aeronautics Limited, Bangalore (Hal) Ř ITI Limited Ř Crompton Greaves Limited Ř Godrej
Boyce Manufacturing Company Limited |
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No. of Employees : |
Total 300 :
Production 200 and Office/other 100 |
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Bankers : |
· State Bank of India, Overseas Branch, # 65, St. Mark’s Road, Bangalore – 560 001, Karnataka, India · Industrial Development Bank of India Limited, IDBI Towers 58 Mission Road, Bangalore - 560 027 · Punjab National Bank, Industrial Finance Branch, Bangalore - 560 001, Karnataka · New Bank of India, Bangalore - 560 009, Karnataka · State Bank of India, Overseas Branch, 87, Almas Centre, M G Road, Bangalore - 560 001, Karnataka · Canara Bank, International Division, Shankaranarayana Building, M G Road, Bangalore - 560 001, Karnataka · Allahabad Bank, Bangalore - 560 009, Karnataka · Bank of India, Mission Road, Bangalore - 560 027, Karnataka · Canara Bank, Jindal Nagar, Bangalore - 560 073, Karnataka |
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Facilities : |
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Banking Relations
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Good |
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Auditors : |
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Name : |
S V Surana and Company Chartered Accountants |
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Address : |
4705, 7th Floor, High Point IV, 45 Palace Road, Bangalore –
560 001, Karnataka |
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Tel. No.: |
91-80-22260240 / 22262609 |
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Group Company & Associates/Subsidiaries : |
Ř Jindal
Industries Limited Ř Jindal Strips Limited Ř Jindal Iron and Steel Limited Ř Jindal Steel and Power Limited Ř Saw Pipes Limited Ř Shalimar Paints Limited Ř Jindal Ferro Alloys Limited Ř Jindal Polyester Limited Ř Jindal Vijayanagar Steel Limited, Karnataka Ř Jindal Tractabel Power Company Limited, Karnataka Ř Jindal Steel Tubes Limited Ř Jindal Seamless Pipes Limited Ř Jindal Photo Films Limited Ř Jindal Praxair Oxygen Company Private Limited Ř Jindal Worldwide Limited Ř Jindal Synthetics Limited Ř Jindal Polyester Limited Ř Jindal Capital Limited Ř Jindal Drugs Limited Ř Jindal Engery Limited Ř Jindal Hotels Limited Ř Jindal Irrigations Limited Ř Jindal Online.com Limited Ř Jindal Steel Strips Limited, Haryana/ Karnataka Ř Jindal Charitable Hospital, Haryana CIn of the company : U14200KA2008PLC045891 Name of the company : Jindal Mines and Minerals Limited |
CAPITAL STRUCTURE
AS ON 31.03.2008:-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2490000 |
Equity Shares |
Rs. 100/- Each |
Rs. 249.000 millions |
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210000 |
Preference shares |
Rs. 100/- each |
Rs. 21.000 millions |
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Total
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Rs.
270.000 millions |
Issued Capital
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2101680 |
Equity Shares |
Rs. 100/- Each |
Rs. 210.168 millions |
Notes:
106204 Equity Shares of Rs. 100/- each were
allotted as fully paid up bonus shares by capitalization of general reserves and
surplus in profit and loss account. Subsequently during the financial year
1999-2000, 31920 equity shares of Rs.
100/- each fully paid up were bought back by the company 2001600 equity shares
Rs. 100/- each were allotted as fully
paid up bonus shares by
capitalization of capital reserve, capital redemption reserve and general
reserve during the year 2003-04.
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 |
210.168 |
210.168 |
210.168 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9121.571 |
2003.129 |
2169.079 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9331.739 |
2213.297 |
2379.247 |
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LOAN FUNDS |
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1] Secured Loans |
553.519 |
423.282 |
559.459 |
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2] Unsecured Loans |
22.756 |
234.355 |
32.611 |
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TOTAL BORROWING |
576.275 |
657.637 |
592.070 |
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DEFERRED TAX LIABILITIES |
69.500 |
94.600 |
122.900 |
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TOTAL |
9977.514 |
2965.534 |
3094.217 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8378.265 |
1665.558 |
2216.079 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
373.785 |
252.905 |
41.754 |
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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 |
331.113
|
343.160 |
444.033 |
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Sundry Debtors |
292.938
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305.366 |
216.237 |
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Cash & Bank Balances |
305.719
|
130.231 |
7.422 |
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Other Current Assets |
6.295
|
8.483 |
1.319 |
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Loans & Advances |
1041.592
|
762.196 |
669.292 |
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Total
Current Assets |
1977.657
|
1549.436 |
1338.303 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
264.915
|
256.805 |
462.739 |
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Provisions |
487.279
|
245.560 |
39.180 |
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Total
Current Liabilities |
752.194
|
502.365 |
501.919 |
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Net Current Assets |
1225.464
|
1047.071 |
836.384 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9977.514 |
2965.534 |
3094.217 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
6940.860 |
6612.418 |
5301.587 |
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Other Income |
135.868 |
151.969 |
68.142 |
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Total Income |
7076.728 |
6764.387 |
5369.729 |
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Profit/(Loss) Before Tax |
546.771 |
311.732 |
153.390 |
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Provision for Taxation |
216.401 |
169.200 |
55.450 |
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Profit/(Loss) After Tax |
330.370 |
142.532 |
97.940 |
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Export Value |
700.080 |
778.016 |
NA |
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Import Value |
574.763 |
750.399 |
NA |
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Expenditures : |
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Raw Material Consumed |
5306.849 |
5133.932 |
4140.022 |
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Increase/(Decrease) in Finished Goods |
[40.816] |
97.051 |
[92.658] |
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Salaries, Wages, Bonus, etc. |
195.299 |
145.027 |
136.860 |
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Depreciation & Amortization |
96.075 |
138.451 |
200.413 |
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Other Expenditure |
972.548 |
938.194 |
831.702 |
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Total Expenditure |
6529.956 |
6452.655 |
5216.339 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
4.67
|
2.11 |
1.82 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.88
|
4.71 |
2.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.10
|
8.98 |
4.26 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.14 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.14
|
0.52 |
0.45 |
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Current Ratio (Current Asset/Current Liability) |
|
2.62
|
3.08 |
2.67 |
LOCAL AGENCY
FURTHER INFORMATION
History
The company is the flagship of company of "Jindal Group" of companies. It was incorporated at Delhi, bearing Registration Number 5343 dated 23rd July 1970 and later the Registered office of the company has been shifted to the State of Karnataka.
The company’s factory is located in pollution free area on the outskirts of Bangalore city (the garden city of India) on the Bangalore-Pune-Mumbai National Highway No.4 and functioning excellently since 1968.The company had a humble beginning with one American press of 1500 tons capacity. With gradual expansion, the company is now having five extrusion presses of world renowned makes of different capacities with PLC controls and production capacity of 50,000 tons per annum with state-of-the-art manufacturing facilities, widest range of profiles, record production, regular exports to advanced countries and long-standing clientele. The company is the only extrusion company in India having five extrusion presses under one roof and achieving highest production in India. The Company enjoys very high grading and reputation all over. Currently it covers more than 30% of extrusion market in India
Operations:-
The company has achieved an all time high production of 47015 MT of
Aluminum extrusions during the year, as against 43263 MT during the last year
registering a growth of about 8.67%. Inspite of continuous rise in raw material
and other input costs as well as stiff competition prevailing in the extrusions
industry, the company has been able to increase its revenue from Rs. 7679.000
millions to Rs. 8023.500 millions this year.
The profit for the year has registered a growth of 34% this year
increasing from Rs. 565.400 millions last year to Rs. 758.600 millions this
year.
During the year Wing Energy division generated 29572940 kWh of Wing
energy, out of which 10218540 kWh were used for captive consumption at their
Bangalore Factory and 19354400 kWh were sold
to Karnataka Power Transmission Corporation Limited.
Revaluation of Fixed assets:
With a view to reflect true and
fair value of its assets in the books, the company has got its fixed assets
revalued as at 31.03.2008 by independent expert valuer as evidenced by the
valuation report submitted by them. The book value of such assets as on
31.03.2008 has been accordingly adjusted.
Exports:
Despite adverse conditions for exports during the year mainly due to
weakening dollar, the company has been able to export 5056 MT of aluminum
extrusions valued at Rs. 700.000 millions. This has been possible due to
maintaining strict quality control, which has translated into acceptability of
their products in the international market across the world. Exports were made
to UK, France, Germany, Spain, Canada, Middle East, srilanka, Australia, Poland, Hong Kong, Uganda, Mauritius,
Lebanon and South Africa. The company is exploring the possibility of further
boosting exports.
Industrial Scenario:
The impressive growth of the India Economy has spurred demand of
aluminum products in the country in building automotive power and other sources
and other sectors. However, raw
materials prices continued to remain inflated throughout the year due to wrong
policies of primary metal producers who are maximizing their profits by jacking
up prices of primary metals at the cost of consumers in tune with
international prices even when there is
no corresponding increase in their input or other costs. This phenomenon has
hampered higher growth of demand for aluminum products since they are made
available to consumers in the market at higher prices. This trend is expected
to continue.
Diversification
and Expansion Plans:
As part of the company diversification plan, it is promising a new
company incorporated by the name of Jindal Mines and Minerals Limited which is
at present exploring possibilities of setting up facilities for beneficiation
and pellestisation of iron ore as well as other related activities.
The company has entered into joint venture with Al Thuraya Mining
Company, LLc, Oman for a copper
mining project
The company is also planning to set up a foundry for melting aluminum
scrap and ingots at dabaspet which is about 32 km away from its existing
extrusion plant.
Fixed assEtes:-
· Land
· Leasehold Land
· Buildings
· Road
· Factory Shed and Building
· Plant and Machinery
· Furniture and Fittings
· Office And Other Equipments
· Vehicles
· Electric Elevator
· Data Processing Equipment
· Solar Water Heating System
Form 8:-
|
Corporate
identity number of the company |
U85110KA1975PLC002806 |
|
Name of the
company |
JINDAL ALUMINIUM
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka |
|
This form is for |
Creation of
charge |
|
Type of charge |
· Book Debts · Movable Property (not being pledge) · Others |
|
Particular of
charge holder |
IDBi bank Limited, IDBi House, No. 58
, Mission Road, Bangalore – 560 027, Karnataka, India E-Mail: jsurya@vsnl.com |
|
Nature of
instrument creating charge |
Agreement of
hypothecation of goods and assets dated April 30, 2008. |
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Date of
instrument Creating the charge |
30.04.2008 |
|
Amount secured by
the charge |
Rs. 270.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : BPLR -2.25% p.a
(Presently BPLr rate is at
13.25% p.a) PC: BPLR -250 bps
(presently BPLR @ 13.25% p.a) PCFC / Post
Shipment : LIbOR +100bps Terms of Repayment: Repayable on
Demand Margin: 25% Extent and operation of charge: Charge extends on
all the assets throughout the period of sanctioned limits by way of first
charge. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of the
whole of present and future stocks of raw materials, semi finished goods and
finished goods, consumables stores and spare, book debts, bill outstanding
monies receivables, movable plant and machineries , machinery spares, tools
and accessories, etc belonging to the company situated at Jindal Nagar Tumur
Road, Bangalore – 560 073. |
|
Name of the company |
JINDAL ALUMINIUM LIMITED |
|
Presented By |
Req. of Mr. Nawal Kishore, Assistant
Company Secretary |
|
1) Date and description of instrument creating the change |
Agreement of
hypothecation of goods and assets dated 28.06.2005 entered into with
industrial Development Bank of India Limited, based on sanction letter dated
12.04.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
The bank has
agreed to provide the facilities for sums not exceeding Rs. 150.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on
all fixed assets financed by industrial Development Bank of India Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest :7.75% Margin : 25% Repayment: 24
months – 8 equal quarterly installments. |
|
5) Name and Address and description of the person entitled to the charge. |
Industrial
Development Bank of India Limited IDBI Towers 58
Mission Road, Bangalore - 560 027 |
Website details:-
Subject is the
largest manufacturer of aluminium extruded profiles in India. Subject offers
customers the very best in aluminium extruded profiles, very intricate and
sophisticated sections. With their latest CNC, EDM, Wire Cut Machines, Subject
can develop dies for new sections within the shortest possible time.
Subject offers
wide range of extruded profiles in different aluminium alloys - AA 6063
(63400), 6061 (65032), 6351 (64430), 64423, 6262, 6005, 6082, 6060, 2014. EC
Grade alloys - E1E (19501) and E91E (63401)
Subjects
assortment of 6000 different aluminium profiles, aluminium sections cater to
the high quality aluminium extrusions requirements in various sectors like
Building, Agriculture, Railway and Road Transport, Industrial, Electrical,
Electronics, Defence and Aerospace.
Company Profile:-
Subject established way back in 1968, is the leading manufacturer of
aluminium extruded profiles in India. Located in the serene outskirts of
Bangalore city, Subject is the only aluminium company in India having 6
aluminium extrusion presses under one roof and achieving highest production in
the country.
What started as a humble beginning with one 1500 ton American Press
gradually expanded to a current collection of world renowned makes of six
extrusion presses, each with a different capacity, PLC Controls and modern
handling systems
Subject established its factory for manufacture of aluminium extrusions
in the year 1968 at Bangalore. Subject has 6 aluminium extrusion presses with
an installed capacity of 75,000 TPA. The company is the leader in aluminium
extrusions in India having produced about 45,000 MT during 2005-06 and it being
the largest manufacturer of aluminium extrusions, is meeting country’s30% of
total demand. It is also exporting its products to several countries all over
the world. Subject’s products are well known for its quality and considered
best among more than 100 aluminium extrusion manufacturers in the country. Due
to image, reputation and high quality, its products command 10-15% premium in
the market. However, this benefit goes to dealers and consumers only. Company’s
present turnover is 9000 millions, share capital and reserve are Rs.9000
millions and total worth is Rs.10000 millions. Since beginning it is a profit
making company. The company has not taken loan from any source since it has
surplus funds of its own which are invested safely.
Wind power is
environment friendly and a green technology. Subject’s 12.04 MW Wind Power
Projects are situated at Chitradurga District, 200 km from Bangalore. Subject
is now self-sufficient in power through the wind power it generates and the
excess is being channelised to the State grid. Subject is also in the process
of establishing another wind power project in Karnataka with 12.4 MW
capacities. With this, Subject will have nearly 25 MW wind power projects.
Subject
organization comprises various charitable and social welfare institutions as
well as number of trusts and societies through which it is rendering yeomen
services to the mankind. Hence Subject is more of a social organization. Giving
donation regularly to 600 organisations and scholarship to 5000 children all
over India. Its trust and society are having substantial funds to generate
income for donations and other activities, continuing for decades.
Since the last
40 years, Subject has always been earning profits, most of which are diverted
towards welfare and charitable activities, particularly for the downtrodden or
weaker section of the society as per the wishes of the CMD, Dr.S.R.Jindal, who
has also founded several charitable trusts and societies apart from
institutions like world renowned Jindal Naturecure Institute, Manav Charitable
Hospital (an allopathy hospital), Jindal Charitable Hospital (an allopathy
hospital), mobile dispensaries serving at the doorsteps of the villagers,
Jindal Public School, Jindal Pre-university College, Mahila Arts and Crafts
Institute besides adopting 100 villages in Karnataka 10 years back where basic
amenities like potable water, education (school buildings) and medical
facilities have been provided. One can say that Subject is more of a social
organization though business-wise also it is doing well in its own way.
Key Milestones Achieved
·
Won the ISO 9001:2000 Certification for Quality Management
System.
·
Designed an in-house assembly of Extrusion Press
capable of producing intricate sections.
·
Produced the biggest bore irrigation tubing's of 8”
diameter.
·
Implemented hot log shear, hot top casting and log
heating furnace.
·
Utilized automatic extrusion handling equipments
like double puller with fly saw.
·
Developed heat tubes for space applications.
·
Upgraded technology on a continual basis.
·
Continuous homogenizing cum log heating furnace.
·
Comprises 6 extrusion presses under one roof.
·
Loma Hot Top billet casting system.
·
Automatic conveyor with auto packing / weighing and
stacking system.
·
Automatic dimension checking machine.
|
Year |
Milestones Achieved |
|
2006 |
Subject
achieved highest production of 45000 MT in 2005-06 |
|
2005 |
Subject
commissioned the 6th extrusion press of 4000 ton capacity. It is the largest
extrusion press in private sector in India. |
|
2004 |
Subject
achieved a production of 40000 MT of aluminium extrusions, the highest by any
manufacturer in the country. |
|
2003 |
Established 2
windmills - Total 1.9 MW at Chitradurga District, Karnataka. |
|
2002 |
Established 10 windmills - Total 6.0 MW at Chitradurga District,
Karnataka. |
|
2001 |
Commissioned a 2000 ton Lindamann, a German made Extrusion Press, which
was the fifth one added to the set of extrusion presses. Being the first one
in the country to commission a Continuous Log-Homogenizing cum Reheating
Furnace, Jindal boasts of being the first extruder in India to have five
extrusion presses under one roof. |
|
2000 |
Established an Automatic Online Packing Conveyor System for the first
time in the country with a completely automatic strapping, weighing, spiral
wrapping, bundling and marking facility. |
|
2000 |
Subject achieved a record production of 29505 MT, which was the
highest in the entire industry. |
|
2000 |
Quality system Certification upgraded to IS/ISO 9001:2000. |
|
1999 |
Commissioned the 4th extrusion press of 1650 ton capacity. The first fully
Automatic Short Stroke Extrusion Press contains a Double Puller, One-man
Stretcher, Automatic High Temperature Resistant Belt Conveyor System, and an
Automatic Profile Cutting system. |
|
1997 |
Established 18 Wind Mills producing a total of 4.14 MW of power
(generating 135 lakh units per annum), harnessing eco-friendly energy. The
entire investment of Rs. 230 million was made from the company’s internal
funds. |
|
1995-96 |
Jindal Jubilee Gold medal scheme was instituted in 17 Universities and
several education institutions all over India. |
|
1995 |
The company celebrated Silver Jubilee and completed School buildings
in 100 villages as part of its social service activity. |
|
1994 |
First among Secondary Manufacturers to commission imported PLC controlled
Hot Top Billet Casting Machine for production of quality aluminum logs,
imported from USA. |
|
1994 |
The company was awarded IS/ISO 9002:1994 Certification, first in the
entire Aluminum industry in India and first among Aluminium extruders. |
|
1991 |
The Company and associate Trusts adopted 100 villages within 50 km
radius to provide basic amenities like potable water, medical aids and school
buildings. |
|
1990 |
Also introduced three Mobile Medical Vans to provide free medical services
to Rural poor covering 100 villages at their door step. |
|
1990 |
Established Manav Charitable Hospital, a 100 bedded Charitable
Allopathy Hospital with latest and modern equipments. |
|
1989 |
During 1989-90 Jindal Aluminum Limited achieved an all-time high
production of 16400 MT, accounting to 30% of India’s production. |
|
1987 |
Established Jindal Charitable Hospital providing free treatment to
about 800 patients in OPD with all specialties. |
|
1984 |
In 1984-85 achieved record production of 12983 MT, which was highest
in the country then. |
|
1981 |
Installed most modern and advanced third Extrusion Press of 2200 ton
capacity imported from Germany. |
|
1980 |
Jindal Public School shifted to a most modern building for 1500
students providing best subsidized education. |
|
1979 |
Established a full-fledged R and D division recognized by the
department of Scientific and Industrial Research. |
|
1978 |
The Company founded the Institute of Naturopathy and Yogic Sciences -
First modern Institute blending ancient concept of nature cure and yoga with
modern diagnostic equipment and a capacity of 150 beds (now 264 beds) |
|
1977 |
First time in the country an Extrusion Press of 750 ton capacity was
totally designed, fabricated and assembled at Jindal Aluminum Limited saving
precious foreign exchange. |
|
1976 |
Sprinkler Irrigation Division was set up as part of diversification of
the company's activities. First to produce 8” diameter (200 mm) Irrigation
Tubings in the country. |
|
1976 |
The Company was awarded Export Excellence Award for exporting more
than 50% of total production in 1976-77 and 1977-78 |
|
1973 |
First indigenously designed and built DC Casting System for
manufacturing aluminum billets was successfully commissioned. |
|
1970 |
Jindal Aluminum Limited took over the extrusion factory from Jindal
(India) Limited. |
|
1968 |
Jindal Public School was established, which was duly recognized by the
Secondary Education Board. |
|
1968 |
Jindal (India) established the Aluminum extrusion plant at Bangalore.
First secondary extrusion facility in India. |
Financial Strengths
On the financial front as well, subject boasts of a laudable
performance. With a turnover of Rs. 8000 million in 2006-07 and estimating a
growth to Rs.10000 million in the next few year, Subject has not incurred any
loss since its very inception. The company is also free from debts and there is
no pressure whatsoever on its financial resources. Subject possesses a credit
rating of A1+ (the highest safety level) and is availing working capital
facilities at very competitive interest rates which are the best in the
industry.
Employer-Employee Relationship
With employee strength of close to 1200 people, Subject has been
successful in preserving an unblemished repute of having excellent employer-employee
relationship since its inception in 1968. Subject has not witnessed the loss of
even a single man-hour due to labour unrest, which testifies the management’s
positive attitude towards its employees, along with the handsome pay packages,
superior accommodation, liberal perks, medical, schooling as well as
recreational facilities. Besides ensuring financial well being of the
employees, they are continuously honed with training and other developmental
inputs.
Products
Jindal Aluminium
Extrusions Advantages
The key
benefits of procuring high quality aluminium extrusions from Jindal are
manifold :
Light weight - Aluminium weighing one third the weight of iron, steel, copper or
brass and hence becomes easier to handle and transport.
Strength - Aluminium
extrusions can be made as strong as the purpose demands.
Strength-to-Weight Ratio – The combined property of strength and lightness in aluminium makes it
a key ingredient of many industrial applications.
Corrosion Resistant – Aluminium provides a natural protective layer
against environmental, chemical and physical corrosive agents and hence, can
never rust.
Heat Conduction – Aluminium conducts heat better on a cost and
weight basis.
Electric Conduction – Aluminium has better conductivity over copper
per unit weight and is universally used for power consumption.
Wide Acceptance – Extruded aluminium is widely used in the food
packaging and chemical industry.
Ease of Fabrication – Aluminium allows the extrusion of almost any
shape that can be fabricated using all conventional methods.
Ease of Assembly Design – Aluminium extrusions can be designed
for easy assembly with other parts and even their surfaces can be mated to
match up for easy joining.
Joinability – Welding, Soldering, Brazing are few methods
employed to join extrusions. Bolts, rivets, clips and adhesives are also
frequently used for this purpose.
Complex, Integral Shapes – Custom designed extrusions can be
produced in intricate shapes which otherwise, would have to be created joining
several individual parts.
Uniform Quality – Aluminium assures reliability and uniformity in
quality and hence minimises rejection rates, corrective fabrication and
production downtime.
Cost Effective – The tools used in extrusion are inexpensive
compared to other production methods.
Variety of Finish – A wide array of finishes ranging from paint,
lacquer and enamel, textures from rough matte to mirror smooth and a variety of
powder coated and anodized colours are available. The finish enhances
durability and elegance of the product.
Identification – Subject extrusions can be identified by the
"Jindal" Trade Mark printed with a lot number on each section.
Subject packages are bar coded for traceability and verification.
Exports
Subject is the largest Manufacturer and Exporter of Aluminium Extruded
Profiles from India, registering growth of over 35 % on quantity basis for last
three consecutive years and is confident of achieving even higher growth in
coming years. subject's unblinking focus on quality in all aspects of
their operation is driving them ahead in International Market. Besides,
one of the pioneer to be awarded ISO 9000 recognition in the year 1994, Jindal
is the first in India to be awarded ABS (Americal Bureau of Shipping) Plant
Approval, thus Jindal is now approved manufacturer to supply material for
marine grade application.
Their Export department is fully equipped with latest tools of
communication, skilled manpower and is committed to provide best services
to all their customers. Their specially trained and committed team capable of
handling Export Logistics, an vital aspects in International Trade to ensure
timely shipments / deliveries of orders as per schedule agreed.
Their 4000 US Tons press imported from SMS Scholeman, Germany is state
of the art technology, enabling Jindal, to manufacture and supply wide profiles
as wide as 450 mm depending upon shape and size with tighter tolerances, thus
meeting requirements of large sections.
Some of the other sailent features of Jindal are as under
·
Annual Production capacity of 75,000MT
·
Wide range of profiles to choose from - up to 450mm
wide profile
·
Largest aluminium extruder in India
·
In-house Billet Casting and Die manufacturing facility
·
Self sufficient in energy requirement through Their
Wind Power Mill
·
Capable of dispatching material within 2 weeks, if
dies are ready
The companies products enjoy wide international acceptance and are
renowned for their high quality and reliability. Their international presence
is in over 26 countries across the globe including USA, Canada, Brazil, UK,
Europe, GCC countries, South Africa, Mauritius and Australasia etc.
With their consistent product quality and services, subject has received many
awards from prestigious organizations. subject
has been awarded silver shields for Star Performance for highest Exports
of Aluminium Extrusions from India during 2006 and 2007 by Engineering Export
Promotion Council, a Government of India recognised agency. Some of the other
recognitions are as under
DENTAL
AWARDS
S.J.Jindal Trust has announced three awards in this respect;
US $0.5 million for substantial achievement to nearly eradicate dental agony
through excellent innovation, research and development.
US $1 million for eradication of dental disease avoiding visit to dental
clinics and consulting dentists even, to have invented such measures like
vaccine, a breakthrough.
Befitting award for exposure and endeavor leading to punishment of the
culprits mentioned above as to cleanse this profession becoming more and more
infamous for causing misery mischievously.
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 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.49.12 |
|
UK Pound |
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.63.52 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
70 |
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 |
|
