MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
N S JAIN AND COMPANY PRIVATE LIMITED |
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Registered Office : |
150, Bhawani Peth, Pune – 411 002, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.11.1997 |
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Com. Reg. No.: |
11-112719 |
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CIN No.: [Company
Identification No.] |
U31909MH1997PTC112719 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor for Motorola Hand Set, Phillips and Crompton |
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 58000 |
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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 having satisfactory
track. Trade relations are fair. Business is active. General financial position
is good. Payments are reported as usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ram |
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Designation : |
Account Manager |
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Contact No.: |
91-9370075030 |
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Date : |
29.09.2008 |
LOCATIONS
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Registered Office : |
150, Bhawani Peth, Pune – 411 002, Maharashtra, India |
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Tel. No.: |
91-20-26386670 / 26387636 / 26387641 |
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Mobile No.: |
91-9881140741 |
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E-Mail : |
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Area : |
4000 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
Shop No. 1/2, Jain Ganesh, Varadhast Complex |
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Mobile No.: |
91-9881140730 |
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Location : |
Owned |
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Warehouse : |
125/116, Bhawani Peth, Pune – 411 042, Maharashtra, India |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Chunilal V Jain |
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Designation : |
Director |
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Address : |
S. No. 585, Plot No. 45/46, Salisbury Park, Pune – 411 037,
Maharashtra, India |
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Date of Birth/Age : |
29.10.1947 |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Yogesh C Jain |
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Designation : |
Director |
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Address : |
S. No. 585, Plot No. 45/46, Salisbury Park, Pune – 411 037,
Maharashtra, India |
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Date of Birth/Age : |
17.12.1971 |
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Date of Appointment : |
30.12.1997 |
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Name : |
Mr. Nilesh Jain |
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Designation : |
Director |
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Name : |
Mrs. Anchal Jain |
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Designation : |
Director |
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Name : |
Mrs. Indumati Achal Jain |
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Designation : |
Director |
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Name : |
Mrs. Sarita Nilesh Jain |
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Designation : |
Director |
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Name : |
Mrs. Meena Chunilal Jain |
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Designation : |
Director |
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Name : |
Mrs. Preeti Yogesh Jain |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)`
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Names of Shareholders |
No. of Shares |
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Chunilal V Jain |
1250 |
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Yogesh C Jain |
1250 |
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Total |
2500 |
Equity shares Breakup (percentage of total equity)
(As on 29.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor for Motorolla Hand Set, Phillips and Crompton |
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Products : |
·
Crompton Greaves - Luminaries and
Accessories ·
Philips - Domestic Appliances and Personal Care ·
Motorola - Handsets |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
·
Retailers ·
Government
Institutions Pune Municipal Corporation Pimpri Chinchwad Municipal Corporation Kirkee Cantonment Military Engineering School ·
Corporate /
Multinational Companies Finolex Pipes and Cables Venkys Infosys Kumar Builders Idea Cellular Krupp Industries Dymlor – Chrysler Tata Motors DSK Developers Limited |
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No. of Employees : |
55 |
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Bankers : |
·
ING Vyasa Bank, FC Road, Pune ·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Facilities : |
CC Rs.37.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bharat V Shah Chartered Accountants |
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Address : |
2A, Gangotri Complex, 927, Synagogue Street, Pune – 411 001,
Maharashtra, India |
CAPITAL STRUCTURE
(As on 29.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
2.400 |
2.400 |
2.400 |
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3] Reserves & Surplus |
9.167 |
6.660 |
5.358 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.667 |
9.160 |
7.858 |
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LOAN FUNDS |
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1] Secured Loans |
21.406 |
20.655 |
23.048 |
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2] Unsecured Loans |
9.401 |
6.299 |
5.893 |
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TOTAL BORROWING |
30.807 |
26.954 |
28.941 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
42.474 |
36.114 |
36.799 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.598 |
1.709 |
1.651 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
35.583
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29.692 |
16.568 |
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Sundry Debtors |
40.743
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39.230 |
0.000 |
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Cash & Bank Balances |
0.273
|
1.014 |
3.058 |
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Other Current Assets |
1.418
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2.163 |
20.009 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
78.017
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72.099 |
39.635 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.635
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36.704 |
3.725 |
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Provisions |
2.506
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0.990 |
0.764 |
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Total
Current Liabilities |
37.141
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37.694 |
4.489 |
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Net Current Assets |
40.876
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34.405 |
35.146 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
42.474 |
36.114 |
36.799 |
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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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531.321 |
326.915 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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531.321 |
326.915 |
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Profit/(Loss) Before Tax |
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3.849 |
1.965 |
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Provision for Taxation |
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1.296 |
0.685 |
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Profit/(Loss) After Tax |
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2.553 |
1.280 |
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Expenditures : |
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Financial charges |
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5.239 |
1.827 |
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Other Expenditure |
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522.233 |
323.123 |
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Total Expenditure |
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527.472 |
324.950 |
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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 |
(%) |
0.48
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0.39 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.72
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0.60 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.83
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2.66 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.33
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0.21 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.82
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7.06 |
4.25 |
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Current Ratio (Current Asset/Current Liability) |
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2.10
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1.91 |
8.83 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Crompton
·
Motorola
Form No. 8
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Corporate
identity number of the company |
U31909MH1997PTC112719 |
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Name of the
company |
N S JAIN AND COMPANY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
150, Bhawani Peth, Pune – 411 002, Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of charge
holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400
013, Maharashtra, India |
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Nature of
instrument creating charge |
Supplemental
Letter of Hypothecation of Stocks, Book Debts. |
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Date of
instrument Creating the charge |
29.06.2006 |
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Amount secured by
the charge |
Rs.25.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
1.
The Facility
provided to the Borrower is in the nature of Cash Credit 2.
The Bank is entitled
to change interest at such rate as may be determined by the Bank. 3.
The change
and hypothecation shall continue to submit till such time all the Borrower’s
dues have been rapaid in full. |
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Description of
the property charged indicating whether it is a charged on |
·
Stock in
trade ·
Book debts |
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Particulars of
the property charged |
All the stocks in
trade, both present and future consisting of raw materials, finished goods,
goods in process of manufacturing and other merchandise, current assets, plant
and machinery all the book debts, outstanding money receivables, claims,
bills, which are now due or owing or which may at any time there after
becomes due shall continue to subsist till such time all the Borrowers dues
have been paid in full. |
Web Details
Subject is a company in the field of distribution.
With ongoing revolutionary strategies they are emerging to be one of
the best in our field.
The
company was formed way back in 1965. The key chairperson of the company Mr. C.V.
Jain who now heads the finance division was the visionary behind the company.
Bringing forward the tradition of success and service are Mr. Yogesh Jain and
Mr. N.A. Jain who take care of business development of the company. They as a
company believe in transparent business and ethical business practices.
The
aim is to achieve highest standards of services and strive hard to provide the
utmost customer satisfaction at all levels.
For
the past 40 years since the establishment of the company, they have come a long
way in proving the commitment and sincerity to the dear customers.
They
have a huge range of distribution products ranging from leading companies like Philips for Domestic Appliances and Personal Care,
Motorola GSM Handsets, RIM GSM Handsets and Services and Crompton Greaves
Limited Lighting and Fan Group of Products
etc. giving the customers the best of services that ensure unbeatable quality.
The main aim is to find out the most cost-effective way of getting the right
product to the right place at the right time, given a host of working and
business constraints and parameters.
The
Distribution company with all it's core abilities is situated in Pune, India.
With an experience of more than 40 years in the distribution segment the
company employs around 60 people looking towards marketing, business
development and supply logistics.
Solutions
They
Undertake Custom Luminaries Projects. The expert Team designs a turnkey
solution to fit your needs and budget. They have a vast experience of handling
projects for custom Luminairies and lighting solutions for Streetlights,
industries and corporate houses and have successfully completed Lighting
projects for Industrial Applications Commercial Offices and Workplaces
Street/Garden Lights Domestic and residential Projects
Multiplexes/Entertainment Parks
They Undertake Luminaries Projects . These are
mainly usable for the range of distribution products include :
Commercial Luminaries
·
Commercial Lighting
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Downlight
·
T5
Domestic
Luminaries
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Domestic Lighting
·
Minilight
Industrial
Luminaries
·
Industrial Lighting
·
Flameproof and Increased Safety Lighting
Streetlight
Luminaries
·
Streetlight
·
Post Top Lighting
·
Floodlight
·
Accessories
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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
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 |
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 |
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 |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|