MIRA
INFORM REPORT
|
Report Date : |
16.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
2 Surachit Apartments Opposite Gadkari Rangayatan, E Moses Road, Thane
– West, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.08.1999 |
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Com. Reg. No.: |
11-121214 |
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CIN No.: [Company
Identification No.] |
U21010MH1999PTC121214 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ09368C |
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PAN No.: [Permanent
Account No.] |
AADFJ2657F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture of Label for Liquor Industry. |
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 47000 |
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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 an established company meetings its normal commitments
timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealing. Mr. Janus, Director declined to part with any information. |
INFORMATION /
DECLINED BY
|
Name : |
Mr. Janus |
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Designation : |
Director |
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Date : |
06.06.2008 |
LOCATIONS
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Registered Office : |
2 Surachit Apartments Opposite Gadkari Rangayatan, E Moses Road, Thane
– West, Maharashtra, India |
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Tel No.: |
91-22-5893893 |
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E-Mail : |
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Branches : |
Rai Master Compound Next to St. Xhavier School, Chitalsar Manapada, Thane-400607, Maharashtra, India |
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Tel. No.: |
91-22-25893453, 5893279 |
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Fax No.: |
91-22-25893456 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Denver Annunciation |
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Designation : |
Director |
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Address : |
Surachit Apartments Opposite Gadkari Rangayatan, E Moses Road, Thane –
West, Maharashtra, India |
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Date of Birth/Age : |
06.05.1986 |
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Date of Appointment : |
09.08.1999 |
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Name : |
Mr. Lourdes Annunciation |
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Designation : |
Director |
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Address : |
Surachit Apartments Opposite Gadkari Rangayatan, E Moses Road, Thane –
West, Maharashtra, India |
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Date of Birth/Age : |
26.03.1947 |
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Date of Appointment : |
09.08.1999 |
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Name : |
Mr. Janus |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2007):- |
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No. of Shares |
|
Mr. Lourdes Annunciation |
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34630 |
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Mr. Denver Annunciation |
|
20100 |
Equity Shares Breakup (Percentage of Total Equity): as on 31.03.2007:-
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Label for Liquor Industry. |
GENERAL
INFORMATION
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Suppliers : |
Ø Arsoma Graphics Ø Ashok Parshram Ingle Ø Colour Tone Ø Jai Durga Ø Janus Flexibles Ø Lehar Processors Ø Metro Blocks Ø Prabhat Enterprise Ø Print O Graph Ø Renu Transport and Tourist |
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Customers : |
Ø Arlem Breweries Ø Aurangabad Breweries Ø Charminar Breweries Ø Doburg Breweries Ø Impala Distilleries Ø Maharashtra Distilleries Limited Ø Salamander Distilleries Limited Ø Shiva Distilleries Limited Ø Shol Distils |
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No. of Employees : |
10 |
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Bankers : |
Citizen Credit Co-Operative Bank Limited Address: Mulund Branch, Saidham Complex, Co-Op Hsg Soc, 26-27-28, P K Road,
Extn, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mundra and Associates Chartered Accountants |
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Address 1 : |
Mundra House, Opp Parekh Medical Stores, Jambli Naka,
Station Road, Thane (W) – 400601, Maharashtra, India |
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Address 2: |
A/301 Devi Darshan, Tembhi Naka, Thane – 4006 01, Maharashtra, India |
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Tel. No.: |
91-22-5453845 / 5343920 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2007:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
484730 |
Equity Shares |
Rs. 10/-
each |
Rs.4.847
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.847 |
4.847 |
4.847 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.493 |
1.821 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
[0.881] |
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NETWORTH |
9.340 |
6.668 |
3.966 |
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LOAN FUNDS |
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1] Secured Loans |
39.152 |
16.969 |
19.778 |
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2] Unsecured Loans |
0.431 |
0.780 |
0.803 |
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TOTAL BORROWING |
39.583 |
17.749 |
20.581 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.923 |
24.417 |
24.547 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.117 |
20.356 |
23.340 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.398 |
0.369 |
0.340 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
14.978
|
9.054 |
7.097 |
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Cash & Bank Balances |
0.007
|
0.008 |
0.030 |
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Other Current Assets |
2.783
|
1.730 |
1.807 |
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Loans & Advances |
5.843
|
0.897 |
1.598 |
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Total
Current Assets |
23.611
|
11.689 |
10.532 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
9.397
|
7.119 |
9.454 |
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Provisions |
1.821
|
0.901 |
0.238 |
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Total
Current Liabilities |
11.218
|
8.020 |
9.692 |
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Net Current Assets |
12.393
|
3.669 |
0.840 |
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MISCELLANEOUS EXPENSES |
0.015 |
0.023 |
0.027 |
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TOTAL |
48.923 |
24.417 |
24.547 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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41.982 |
23.431 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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41.982 |
23.431 |
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Profit/(Loss) Before Tax |
|
2.672 |
2.702 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
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2.671 |
2.702 |
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Expenditures : |
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Interest |
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2.754 |
2.280 |
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Depreciation & Amortization |
|
3.037 |
3.131 |
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Other Expenditure |
|
33.519 |
15.318 |
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Total Expenditure |
|
39.310 |
20.729 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
6.36
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11.53 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
6.36
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11.53 |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.47
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8.43 |
- |
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Return on Investment (ROI) (PBT/Networth) |
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0.29
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0.41 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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5.44
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4.41 |
7.63 |
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Current Ratio (Current Asset/Current Liability) |
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2.10
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1.46 |
1.09 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U21010MH1999PTC121214 |
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Name of the company |
JANUS INTERNATIONAL PRIVATE LIMITED |
|
Address |
2 Surachit Apartments Opposite Gadkari Rangayatan, E Moses Road, Thane
– West, Maharashtra, India |
|
This Form is for |
Creation of charge |
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Type of Charges |
Movable property |
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Particular of the charge holder
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Citizen Credit Co-operative Bank Limited –
Mulund Br. Address: Saidham Complex Co-op Hsg Soc,
26-27-28, P K road, Extn. Mulund (West), Mumbai – 400 080, Maharashtra, India
E-Mail: glen.office@gmail.com |
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Nature or description of the instrument creating charge |
Hypothecation of Tangible movable property
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Date of the instrument creating charge |
15.03.2008 |
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Amount Secure by the charge |
Rs. 18.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Interest @ 12% p.a (payable monthly) (At Bank PLR subject to changes
as per Bank’s discretion) Terms of Repayment: To repay LC cum Term Loan of Rs. 18.500 millions in 84 equal
installments after A moratorium of 6 month, from the date of final
disbursement along with Interest. Margin: Cash Margin @ 10% to be deposited with the branch before opening the
L/C Extent and operation of the charge: Repayment of LC cum term Loan of Rs. 18.500 millions equal
installments after a moratorium of 6 months from the date of final
disbursement along with Interest |
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Short Particulars of the Property charged |
Machineries – Upgradation unit of Gallus Flexographic printing machine
EM 280 and EM 410 Conveyor IEEC Corona Treater, Slitter Air conditioning
Units and Furniture and Fixtures both present and future |
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Name of the
company |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Mr. Denver
Annunciation |
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1) Date and
description of instrument creating the change |
Hypothecation of
Tangible movable property and charge and agreement of hypothecation of book debts
of hypothecation of book debts both dated 18.03.2003 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Stocks and
machinery belonging to the company present and future all book debts outstanding
money receivables claims and bill which are now due and owing or which become
due and owing to the company in the course of the business of the company. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Repayments of cash credit and term loan on demand alongwith Interest
@12% p.a subject to change from time to time. |
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5) Name and
Address and description of the person entitled to the charge. |
Citizen Credit Co-op Bank Limited Address:26-27-28 Saidham Apartments, P K
road, Mulund, Mumbai – 400 080, Maharashtra, India |
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6) Date and brief description of instrument
modifying the charge |
Supplemental
Agreement of hypothecation of Tangible movable property and supplemental
agreement of book debts dated 19.09.2003. |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
To secure the repayment
on demand bank guarantee facility of Rs. 1.310 millions along with Interest
and incidental charges. The aggregates outstanding are Rs. 21.447 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 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.42.90 |
|
UK Pound |
1 |
Rs.83.76 |
|
Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
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 |
|
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 |
|