MIRA
INFORM REPORT
|
Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JAI SHREE RASAYAN UDYOG LIMITED |
|
|
|
|
Registered Office : |
M-4, Aradhana Bhawan Commercial Complex, Azadpur, Delhi – 110 033,
Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
22.01.1993 |
|
|
|
|
Com. Reg. No.: |
55-51854 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1993PLC051854 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ04826D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACJ0715C |
|
|
|
|
Legal Form : |
A closely held public limited liability company. |
|
|
|
|
Line of Business : |
Manufacturer of Pesticides and Insecticides |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 270000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory track.
Trade relations are fair. Financial position is satisfactory. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
INFORMATION PARTED
BY
|
Name : |
Mr. Harish Sharma |
|
Designation : |
Finance Manager |
|
Date : |
09.07.2008 |
LOCATIONS
|
Registered Office : |
M-4, Aradhana Bhawan Commercial Complex, Azadpur, Delhi – 110 033,
Delhi, India |
|
Tel. No.: |
91-11-27682970 / 1 / 2 / 3 / 4 |
|
Fax No.: |
91-11-27682970 |
|
E-Mail : |
|
|
Area : |
Approximately 2000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at ·
Haryana ·
Kundli |
|
|
|
|
Branches : |
Located at ·
Ahmedabad ·
Aurangabad ·
Balakati ·
Bhatinda ·
Ghaziabad ·
Hanumangarh ·
Hissar ·
Hyderabad ·
Indore ·
Jaipur ·
Karnal ·
Kashipur ·
Kolkata ·
Kundli ·
Lucknow ·
Ludhiana ·
Murthal ·
Nathpur ·
Patna ·
Raipur ·
Samba ·
Sindhanur |
DIRECTORS
|
Name : |
Mr. Chand Pal Singh |
|
Designation : |
Director |
|
Address : |
House No.1426, Gali No. 5, Alipur, Delhi – 110 036, India |
|
Date of Birth/Age : |
15.11.1955 |
|
Date of Appointment : |
01.10.2007 |
|
|
|
|
Name : |
Mr. Sanjay Aggarwal |
|
Designation : |
Director |
|
Address : |
B-2 / 62, Ashok Vihar, Phase – II, Delhi – 110 052, India |
|
Date of Birth/Age : |
11.02.1974 |
|
Date of Appointment : |
22.01.1993 |
|
|
|
|
Name : |
Mr. Om Prakash Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
B-2 / 62, Ashok Vihar, Delhi – 110 052, India |
|
Date of Birth/Age : |
26.02.1950 |
|
Date of Appointment : |
22.01.1993 |
|
|
|
|
Name : |
Mr. Anshu Aggarwal |
|
Designation : |
Director |
|
Address : |
B-2 / 62, Ashok Vihar, Phase – II, Delhi – 110 052, India |
|
Date of Birth/Age : |
17.02.1974 |
|
Date of Appointment : |
01.01.2002 |
|
|
|
|
Name : |
Mr. Abhilasha Aggarwal |
|
Designation : |
Director |
|
Address : |
B-2 / 62, Ashok Vihar, Phase – II, Delhi – 110 052, India |
|
Date of Birth/Age : |
08.06.1953 |
|
Date of Appointment : |
22.01.1993 |
|
|
|
|
Name : |
Mr. Ashish Aggarwal |
|
Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allottees
|
Names of Shareholders |
No. of Shares |
|
Shekhawati Vanijya Vikas Private Limited |
10000 |
|
Panther Vanijya Private Limited |
5000 |
|
Bhomiya Suppliers Private Limited |
5000 |
|
Shoka Trade Links Private Limited |
15000 |
|
Abex Infocom Private Limited |
7500 |
|
Champak Niketan Private Limited |
7500 |
|
|
|
|
Total |
50000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pesticides and Insecticides, etc. |
|
|
|
|
Products : |
·
Fungicides ·
Herbicides ·
Insecticides ·
Micro nutrients, Fertilizers and Bioproducts ·
Termiticides |
|
|
|
|
Exports : |
|
|
Countries : |
·
China ·
Jordan |
|
|
|
|
Imports : |
|
|
Countries : |
China |
GENERAL
INFORMATION
|
Customers : |
·
Wholesalers ·
End Users ·
Dealer |
|
|
|
|
No. of Employees : |
175 (In Office 25 and In Factory 150) |
|
|
|
|
Bankers : |
·
HDFC Bank Gujarwal Town ·
ICICI Bank Model Town ·
Centurion Bank of Punjab Limited B-11, Gujranwala Town Part – I, Opp. Model
Town, Ring Road, Delhi – 110 033, Delhi, India |
|
|
|
|
Facilities : |
CC – Rs.80.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Ahmad Shukla Jain and Associates Chartered Accountants |
|
Address : |
1/926, Naiwala, Karol Bagh, New Delhi – 110 005, Delhi, India |
|
|
|
|
Memberships : |
·
HPMA ·
NIPMA ·
CHEMEXCIL ·
PMFAI ·
FICCI ·
Delhi Chamber of Commerce |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 millions |
|
150000 |
Preference Shares |
Rs.10/- each |
Rs.1.500 millions |
|
|
|
|
|
|
|
Total |
|
Rs.17.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1559250 |
Equity Shares |
Rs.10/- each |
Rs.15.592
millions |
|
50000 |
Preference Shares |
Rs.10/- each |
Rs.0.500
million |
|
|
|
|
|
|
|
Total |
|
Rs.16.092 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
16.092 |
15.592 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
38.072 |
26.562 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
54.164 |
42.154 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
63.760 |
26.458 |
|
|
2] Unsecured Loans |
|
14.286 |
13.386 |
|
|
TOTAL BORROWING |
|
78.046 |
39.844 |
|
|
DEFERRED TAX LIABILITIES |
|
0.598 |
0.676 |
|
|
|
|
|
|
|
|
TOTAL |
|
132.808 |
82.674 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
39.143 |
23.552 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
113.424 |
66.233 |
|
|
Sundry Debtors |
|
58.250 |
53.931 |
|
|
Cash & Bank Balances |
|
1.968 |
2.082 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
18.603 |
12.473 |
|
Total
Current Assets |
|
192.245 |
134.719 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
95.017 |
74.562 |
|
|
Provisions |
|
5.130 |
2.568 |
|
Total
Current Liabilities |
|
100.147 |
77.130 |
|
|
Net Current Assets |
|
92.098 |
57.589 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
1.567 |
1.533 |
|
|
|
|
|
|
|
|
TOTAL |
|
132.808 |
82.674 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
393.950 |
319.906 |
|
|
Other Income |
|
0.028 |
0.206 |
|
|
Total Income |
|
393.978 |
320.112 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
4.115 |
2.398 |
|
|
Provision for Taxation |
|
2.009 |
0.249 |
|
|
Profit/(Loss) After Tax |
|
2.106 |
2.149 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
255.418 |
194.469 |
|
|
Purchases made for re-sale |
|
42.284 |
29.576 |
|
|
Increase/(Decrease) in Finished Goods |
|
(40.620) |
(2.737) |
|
|
Salaries, Wages, Bonus, etc. |
|
13.161 |
9.283 |
|
|
Managerial Remuneration |
|
0.696 |
0.432 |
|
|
Payment to Auditors |
|
0.028 |
0.020 |
|
|
Interest |
|
5.321 |
3.290 |
|
|
Insurance Expenses |
|
0.370 |
0.406 |
|
|
Power & Fuel |
|
2.012 |
1.254 |
|
|
Depreciation & Amortization |
|
5.429 |
3.466 |
|
|
Other Expenditure |
|
105.764 |
78.255 |
|
Total Expenditure |
|
389.863 |
317.714 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
0.53 |
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.04 |
0.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.78 |
1.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.29 |
2.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.92 |
1.75 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Corporate
identity number of the company |
U74899DL1993PLC051854 |
|
Name of the
company |
JAI SHREE RASAYAN UDYOG LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
M-4, Aradhana Bhawan Commercial Complex, Azadpur, Delhi – 110 033,
Delhi, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Centurion Bank of Punjab Limited B-11, Gujranwala Town Part – I, Opp. Model Town, Ring Road, Delhi –
110 033, Delhi, India |
|
Nature of
instrument creating charge |
Loan cum
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
15.03.2007 |
|
Amount secured by
the charge |
Rs.0.650 million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest Rate of Interest – 12.50% p.a. ·
Terms of
repayment 35 Equal monthly instalment of Rs.0.021 million ·
Margin 14% ·
Extent and operation
of the charge First charge in favor of the Bank and Asset financed by the Bank will
be the security and borrower will pay the whole loan amount with interest and
all costs, charges and expenses incurred by the Bank related therewith. The
bank will charge overdue interest @ upto 2% p.m. in the event of non payment
of instalments as per schedule on the outstanding amount. ·
Others Other terms and conditions will be as per the agreement |
|
Particulars of
the property charged |
LPT 1109 42EX 416424BSZ108117 497TC93BSZ10543 |
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.42.72 |
|
UK Pound |
1 |
Rs.84.42 |
|
Euro |
1 |
Rs.67.38 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|