MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
N J INDIA INVEST PRIVATE LIMITED |
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Formerly Known As: |
NJ CAPITASTOCKS |
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Registered Office : |
9th Floor, B Tower, Udhna Udyog Nagar, Sangh Commercial
Complex, Central Road, No. 10, Udhna , Surat-394 210, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.03.2000 |
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Com. Reg. No.: |
04-37674 |
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CIN No.: [Company
Identification No.] |
U67120GJ2000PTC037674 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Advisors and Distributors of Mutual Funds. |
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 580000 |
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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 company having satisfactory track.
Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
9th Floor, B Tower , Udhna Udyog Nagar, Sangh Commercial Complex,
Central Road, No. 10, Udhna , Surat-394 210, Gujarat , India |
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Tel. No.: |
91-261-2429284/2435775 |
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Fax No.: |
91-261-2453014 |
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E-Mail : |
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Website : |
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Corporate Office: |
914-917, 9th Floor, Vishwa
Karma Arcade. Majura Gate, Surat-395002, Gujarat , India |
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Tel. No.: |
91 -261-3295213 / 3295214 |
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Fax No.: |
91-261-2435775 |
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Mobile no.; |
91-98241 14952 / 98244 77845 |
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E-Mail: |
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11/1236 Nanavat Main road, Surat – 395 002, Gujarat, India
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Tel. No.: |
91-261-2395002 |
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Fax No.: |
91-261-2429284 |
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E-Mail: |
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Services Centres: |
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Ahmedabad |
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Anand |
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Baroda |
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Bhopal |
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Chennai |
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Gurgaon |
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Hyderabad |
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Jalandhar |
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Junagadh |
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Lucknow |
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Mumbai (Fort) |
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Ahmedabad
(Maninagar) |
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Aurangabad |
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Bharuch |
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Bhuj |
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Cochin |
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Ghaziabad |
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Indore |
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Jamnagar |
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Kanpur |
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Ludhiana |
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Mumbai
(Kandivali) |
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Mumbai
(Ghatkopar) |
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Mumbai(Dadar) |
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Nadiad |
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Navsari |
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Panaji |
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Pimpri(Chinchwad) |
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Raipur |
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Udaipur |
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Mumbai (Kalyan) |
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Mumbai (Vashi ) |
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Mysore |
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Nasik |
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New
Delhi(Paschim Vihar) |
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Patan |
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Pune |
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Surat |
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Vapi |
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Amritsar |
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Bangalore |
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Bhavnagar |
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Chandigarh |
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Coimbatore |
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Himmatnagar |
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Jaipur |
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Jamshedpur |
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Kolkatta |
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Mehsana |
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Mumbai (Thane) |
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Mumbai (Andheri)
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Mumbai(Mulund) |
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Nagpur |
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New
Delhi(Cannaught Place) |
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Palanpur |
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Porbandar |
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Rajkot |
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Valsad |
DIRECTORS
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Name : |
Mr. Niiraj Choksi |
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Designation : |
Director |
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Address : |
7/E, Anjan Salaka Apartment, Parle Point, Surat – 395 009, Gujarat,
India |
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Date of Birth/Age : |
08.10.1971 |
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Date of Appointment : |
30.03.2000 |
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Name : |
Mr. Jignesh Desai |
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Designation : |
Director |
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Address : |
701, Bee Ann Tower, M G Road, Opposite Tata Hall Navsari – 396 445,
Gujarat, India |
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Date of Birth/Age : |
10.07.1971 |
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Date of Appointment : |
30.03.2000 |
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Name : |
Mrs. Nirali Choksi |
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Designation : |
Director |
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Address : |
7/E, Anjan Salaka Apartment, NR Lal Bunglow, Opposite Jain Temple
Parle Point, Surat – 395 009, Gujarat, India
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Date of Birth/Age : |
14.02.1975 |
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Date of Appointment : |
25.03.2001 |
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Name : |
Mrs. Arundhati Jignesh Kumar Desai |
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Designation : |
Director |
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Address : |
801, Bee Ann Tower, M G Road, Opposite Tata Hall, Navsari -396 445,
Gujarat, India |
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Date of Birth/Age : |
13.10.1973 |
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Date of Appointment : |
25.03.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2007) |
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No. of Shares |
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Mr. Niraj R Choksi |
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5100 |
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Mr. Jignesh R Desai |
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5100 |
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Total
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10200 |
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Category (as on 31.03.2007):- |
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Percentage of Holding |
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Directors or relative of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Advisors and Distributors of Mutual Funds. |
GENERAL
INFORMATION
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No. of Employees : |
100 |
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Bankers : |
· Bank of Baroda · HDFC Bank · ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hiren M Diwan and Company Chartered Accountants |
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Address : |
43, River Palace , Wing A , Besides Navdi Ovara, Nanpura – 395 001,
Gujarat, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10200 |
Equity shares |
Rs. 10/-
each |
Rs. 0.102
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.102 |
0.102 |
0.102 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
143.607 |
70.590 |
28.579 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
143.709 |
70.692 |
28.681 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.574 |
0.462 |
0.347 |
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TOTAL |
144.283 |
71.154 |
29.028 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.624 |
9.894 |
6.125 |
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Capital work-in-progress |
50.979 |
11.111 |
0.000 |
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INVESTMENT |
8.115 |
3.115 |
3.115 |
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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 |
7.669
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41.761 |
11.487 |
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Sundry Debtors |
145.918
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94.907 |
32.417 |
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Cash & Bank Balances |
34.997
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1.847 |
2.517 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
25.225
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24.458 |
5.930 |
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Total
Current Assets |
213.809
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162.973 |
52.351 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
120.920
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94.970 |
28.503 |
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Provisions |
20.324
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20.969 |
4.061 |
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Total
Current Liabilities |
141.244
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115.939 |
32.564 |
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Net Current Assets |
72.565
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47.034 |
19.788 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
144.283 |
71.154 |
29.028 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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1018.631 |
486.382 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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1018.631 |
486.382 |
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Profit/(Loss) Before Tax |
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93.550 |
62.856 |
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Provision for Taxation |
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20.532 |
20.846 |
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Profit/(Loss) After Tax |
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73.018 |
42.010 |
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Expenditures : |
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Depreciation & Amortization |
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3.487 |
2.311 |
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Other Expenditure |
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921.594 |
421.215 |
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Total Expenditure |
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925.081 |
423.526 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
7.17
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8.63 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
9.18
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12.92 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
32.76
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33.59 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.65
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0.89 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.98
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1.64 |
1.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.51
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1.41 |
1.61 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The Company (formerly known as NJ Capitastocks) was started in 1994 to cater to the growing financial services sector. The Company evolved out as a client focused need based investment advisory firm. At the company they regard mutual fund as one of the best investment avenue available to satisfy any kind of investment need. They have gained expertise in analyzing mutual fund schemes, and an in-depth study on various parameters is carried out on a regular basis.
STEP-IN TOWARDS
SUCCESSFUL INVESTMENT MAKING
Presenting NJ India Invest (formally NJ Capitastocks), a company evolved over the past five years as a client focused need based investment advisory firm. The sole business of the organization is to manage investment to fulfil the needs of a varied client segment from cap-a-pie.
At the company people are education centric, the relationship managers will help people in identifying and understanding their needs. Once the investment made will be backed by periodic valuation reports and regular relevant information through newsletters, mailers, e-mail, roadshows etc.
MUTUAL FUNDS
The mutual funds are becoming the most popular investment vehicle offering various kind of schemes with different investment objectives. They believe that investments through mutual funds is one of the most safest, easiest and convenient way of successful investment making. The investments are in congruence to the laid down investment objectives securing the goals and objectives of the unit holders.
A plethora of mutual fund schemes with different features, makes the right choice for an investor difficult.
They at the company have a dedicated task force to analyse the different schemes of mutual funds across various parameters on an ongoing basis. An arduous process with strict disciplinary levels is followed before offering any product, scheme or recommendation as they believe that they are morally bound as trustees to their clients investments.
About Funds
· ABN Amro
· Birla Sun Life
· HDFC
· HSBC
· ING Vysya Mutual Fund
· Kotak Mahindra
· LIC Mutual Fund
· Reliance Mutual Fund
· SBI Mutual Fund
· Sundaram BNP Paribas
·
UTI
·
ICICI
·
Punjab National
Bank
·
Standard Chartered
·
Dutch Asset Management
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.84 |
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UK Pound |
1 |
Rs.84.78 |
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Euro |
1 |
Rs.67.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
|
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
|
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 |
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