MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
JBJ PERFUMES PRIVATE LIMITED |
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Registered Office : |
Plot No. 52, Sai Road, Baddi, Baddi 173205, Himachal Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.09.2002 |
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Com. Reg. No.: |
06-28320 [New] 137258 [Old] |
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CIN No.: [Company
Identification No.] |
U24240HP2005PTC028320 U24240MH2002PTC13758 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLJ10848F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Perfumes and Cosmetic |
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 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Kuldeep |
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Designation : |
Accounts Department |
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Date : |
30.05.2008 |
LOCATIONS
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Registered Office / Factory : |
Plot No. 52, Sai Road, Baddi, Baddi 173205, Himachal Pradesh, India |
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Tel. No.: |
91-1795-244052 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Kamal Arora |
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Designation : |
Director |
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Address : |
1803-Amarnath Tower, Versova, Andheri [West], Mumbai |
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Date of Birth/Age : |
02.12.1966 |
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Qualification : |
Intermediate |
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Date of Appointment : |
30.06.2006 |
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Name : |
Mrs. Sangeeta Arora |
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Designation : |
Director |
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Address : |
1803-Amarnath Tower, Versova, Andheri [West], Mumbai |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Intermediate |
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Name : |
Mr. Sandeep Arora |
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Designation : |
Director |
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Address : |
H. No. 314, Sector 17, Panchkula, Haryana |
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Date of Birth/Age : |
19.03.1974 |
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Qualification : |
S.S.C. |
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Date of Appointment : |
30.06.2006 |
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Name : |
Mr. Manish Arora |
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Designation : |
Director |
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Address : |
H. No. 931, Sector 12, Panchkula, Haryana |
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Date of Birth/Age : |
27.03.1975 |
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Qualification : |
Intermediate |
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Date of Appointment : |
30.06.2006 |
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Name : |
Mrs. Ruchi Deepak Jain |
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Designation : |
Director |
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Address : |
297, Guirawala Town, Part 3, Delhi – 110009 |
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Name : |
Mr. Deepak Jain |
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Designation : |
Director |
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Address : |
297, Guirawala Town, Part 3, Delhi – 9 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kamal Arora |
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484500 |
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Sangeeta Arora |
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133000 |
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Sandeep Arora |
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47500 |
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Manish Arora |
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47500 |
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Darshan Lal Jain |
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85500 |
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Ruchi Jain |
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85500 |
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Deepak Jain |
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66500 |
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Total |
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950000 |
AS ON 30.09.2006
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Perfumes and Cosmetic |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
China |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
75 [In Office : 15; In Factory : 60] |
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Bankers : |
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Facilities : |
CC Facility from State Bank of India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R Mehta and Associattes Chartered Accountants |
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Address : |
39, The Mall Behind Odean Hotel, Amritsar – 143001, Punjab, India |
CAPITAL STRUCTURE
AS ON 30.09.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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950000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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950000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.500 |
9.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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10.381 |
4.795 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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19.881 |
14.295 |
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LOAN FUNDS |
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1] Secured Loans |
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41.548 |
18.304 |
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2] Unsecured Loans |
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5.688 |
8.257 |
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TOTAL BORROWING |
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47.236 |
26.561 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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67.117 |
40.856 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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16.099 |
14.093 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.224 |
0.232 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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29.494 |
24.480 |
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Sundry Debtors |
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32.418 |
13.490 |
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Cash & Bank Balances |
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1.777 |
0.030 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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11.330 |
3.663 |
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Total
Current Assets |
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75.019 |
41.663 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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23.712 |
14.762 |
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Provisions |
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0.931 |
0.927 |
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Total
Current Liabilities |
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24.643 |
15.689 |
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Net Current Assets |
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50.376 |
25.974 |
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MISCELLANEOUS EXPENSES |
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0.418 |
0.557 |
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TOTAL |
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67.117 |
40.856 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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59.284 |
41.976 |
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Other Income |
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0.956 |
0.040 |
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Total Income |
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60.240 |
42.016 |
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Profit/(Loss) Before Tax |
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5.587 |
4.794 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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5.587 |
4.794 |
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Earnings in Foreign Currency |
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24.737 |
0.000 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
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[5.014] |
[19.454] |
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Depreciation & Amortization |
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2.116 |
1.489 |
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Other Expenditure |
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57.551 |
55.187 |
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Total Expenditure |
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54.653 |
37.222 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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9.28 |
11.41 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.42 |
11.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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6.13 |
8.60 |
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Return on Investment (ROI) (PBT/Networth) |
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0.28 |
0.34 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.62 |
2.96 |
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Current Ratio (Current Asset/Current Liability) |
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3.04 |
2.66 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered office of the company has been
shifted from 1803 Amarnath Tower Versova, Andheri [West], Mumbai – 400061, Maharashtra
to the present address w.e.f. 28.04.2005
Trade Reference
- Tata Agency
- V. Associates
Bankers Charges
Report as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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80014256 |
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Corporate
identity number of the company |
U24240HP2005PTC028320 |
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Name of the
company |
JBJ PERFUMES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Plot No. 52, Sai Road, Baddi, Baddi 173205, Himachal Pradesh, India |
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Type of charge |
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Particular of
charge holder |
State Bank of India, Main Branch, Chandigarh – 160022, Punjab |
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Nature of
description of the instrument creating or modifying the charge |
Bank agreement
dated 09.05.2007 |
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Date of
instrument Creating the charge |
09.05.2007 |
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Amount secured by
the charge |
Rs. 58.100
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital :
Interest at 0.25 % above State Bank advance rate [SBAR] with a minimum of
13.00 % p.a. with monthly rests Term Loan :
Interest at 0.25 % above State bank advance rate [SBAR] with a minimum of
13.00 % p.a. with Monthly rests Corporate Loan :
1.00 % above SBAR with minimum of 13.75 % p.a. with monthly rests Or such other
rate of Interest as imposed by bank. Terms of
Repayment New Term Loan of
Rs. 2.200 Millions repayable in 10 quarterly installments first two of Rs.
0.200 Million each and remaining 8 of Rs. 0.250 Million each. New Corporate
Loan of Rs. 7.500 Millions repayable in 12 quarterly installments of Rs.
0.625 Million each Margin Cash Credit –
RM/FG/SIP 25 %; Book Debts 40 % Term Loans 26.30
% Extent and
Operation of the charge 100 % |
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Short particulars
of the property charged |
Hypothecation of
Machinery. Elevators, Electric Installations, Furniture, Computers, EPBAX
System, Scooter, Weighing Scale, D. G. Sets etc. and Equitable Mortgage of
Factory Land measuring 5 Bhighas 6 Biswas vide khasra No. 28 at Billa Wali
Lawana tehsil Nalagarh, District Solan and super structure built on that and
Equitable Mortgage of Plot No. 406 Phase II Housing Board, District Solan |
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Date of latest
modification prior to the present modification |
11.09.2006 |
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Particulars of
the present modification |
Overall limit
increased from Rs. 45.500 Millions to Rs. 58.100 Millions by way New term
loan of Rs. 2.200 Millions, New Term Loan Rs. 2.400 Millions and New Term
Loan of Rs. 7.500 Millions and reduction of Ad-hoc EPC to NIL from Rs. 2.500
Millions and New SLC of Rs. 2.500 Millions and New bank Guarantee of Rs.
0.500 Million. The overall limit increased from Rs. 45.500 Millions to Rs.
58.100 Millions |
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.42.53 |
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UK Pound |
1 |
Rs.83.44 |
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Euro |
1 |
Rs.66.18 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|