%20-%20137160%2006-Apr-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
JYOTI CAPSULATIONS PRIVATE LIMITED JYOTI CAPSULES (A UNIT OF JYOTI CAPSULATIONS PRIVATE LIMITED) |
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Registered Office : |
123/37, Saresh Bagh, Factory Area,Kanpur-208012,Uttar Pradesh. |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
08.08.1995 |
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Com. Reg. No.: |
20-018526 |
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CIN No.: [Company
Identification No.] |
U2423UP1995PTC018526 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KNPJ01143C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 36000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Ramesh Gulathi |
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Designation : |
Director |
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Contact No.: |
91-9839029344 |
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Date : |
30.03.2011 |
LOCATIONS
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Registered
Office : |
123/37, Saresh Bagh, Factory Area,Kanpur-208012, |
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Tel. No.: |
91-512-2236423 |
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Mobile No.: |
91-9839029344 (Mr. Ramesh Chandra Gulathi) |
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Fax No.: |
91-512-2240015 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.ft |
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Location : |
Owned |
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DIRECTORS
As on : 30.09.2010
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Name : |
Mr. Ramesh Chandra Gulati |
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Designation : |
Director |
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Address : |
117/H-1/192,Pandu Nagar, |
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Date of
Birth/Age : |
15.05.1930 |
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Qualification : |
Graduate |
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Date of
Appointment : |
08.08.1995 |
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Name : |
Mr. Ram Prakash Gulati |
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Designation : |
Director |
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Address : |
117/H-1/192,Pandu Nagar, |
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Date of
Birth/Age : |
15.05.1930 |
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Qualification : |
Graduate |
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Date of
Appointment : |
08.08.1995 |
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Name : |
Mr. Kewal Kumar Gulati |
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Designation : |
Director |
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Address : |
117/H-1/192,Pandu Nagar, |
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Date of
Birth/Age : |
26.03.1961 |
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Date of
Appointment : |
08.08.1995 |
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Name : |
Mr. Narendra P.Paril |
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Designation : |
Director |
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Address : |
123/37,Saresh Bagh, |
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Date of
Birth/Age : |
31.05.1962 |
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Date of
Appointment : |
04.02.2002 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Ram Prakash Gulati |
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10000 |
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Mr. Ramesh Chandra Gulati |
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89550 |
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Mr. Kewel Kumar Gulati |
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159200 |
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Mrs. Rajni Gulati |
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9950 |
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Mrs. Usha Gulati |
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74725 |
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Mrs. Rani Raj Gulati |
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4975 |
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Mr. Ram Prakash Gulati HUF |
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50 |
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Mr. Ramesh Chandra Gulati HUF |
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30 |
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Mr. Romit Gulati |
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149320 |
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Mr. Kewal Kumar Gulati HUF |
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100 |
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Mrs. Lalita Malik |
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20 |
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M/s Dhananjay Trexim Private Limited, Kolkata |
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200 |
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Total… |
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498120 |
As On : 30.09.2010
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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
: |
Manufacturer of Pharmaceutical Products. |
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Terms : |
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Selling : |
Cash , Credit (30 Days) |
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Purchasing : |
Cash , Credit (45 Days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Address:
Address:
Address:
Address : Fazalganj Branch, |
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Facilities : |
Secured Loans :
Unsecured Loans:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.K.Kapoor and Company Chartered Accountants. |
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Address : |
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Tel. No.: |
91-512-2372244 |
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Fax No.: |
91-512-2372244 |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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498120 |
Equity Shares |
Rs. 10/- each |
Rs. 4.981 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.981 |
4.981 |
4.981 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.100 |
2.693 |
0.893 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.081 |
7.674 |
5.874 |
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LOAN FUNDS |
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1] Secured Loans |
0.027 |
0.349 |
1.001 |
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2] Unsecured Loans |
38.279 |
41.339 |
38.456 |
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TOTAL BORROWING |
38.306 |
41.688 |
39.457 |
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DEFERRED TAX LIABILITIES |
0.629 |
0.000 |
0.000 |
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TOTAL |
48.016 |
49.362 |
45.331 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.492 |
25.581 |
27.004 |
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Capital work-in-progress |
2.047 |
2.047 |
2.047 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.309 |
1.339 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
22.660 |
14.921 |
18.321 |
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Sundry Debtors |
7.141 |
16.561 |
5.721 |
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Cash & Bank Balances |
6.801 |
4.114 |
1.392 |
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Other Current Assets |
0.395 |
0.332 |
0.000 |
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Loans & Advances |
4.309 |
1.322 |
2.734 |
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Total Current Assets |
41.306 |
37.250 |
28.168 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Current Liabilities |
18.829 |
15.825 |
13.202 |
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Provisions |
0.000 |
0.000 |
0.025 |
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Total Current Liabilities |
18.829 |
15.825 |
13.227 |
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Net Current Assets |
22.477 |
21.425 |
14.941 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.016 |
49.362 |
45.331 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Income |
221.878 |
81.430 |
80.675 |
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Other Income |
|
45.844 |
0.000 |
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TOTAL (A) |
221.878 |
127.274 |
80.675 |
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Less |
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Material Consumed |
|
41.532 |
49.300 |
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Other Purchases |
|
42.965 |
0.000 |
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Manufacturing Expenses |
|
12.110 |
10.824 |
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Payment and Provision to Employees |
|
5.686 |
4.983 |
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VAT Paid on Sales |
|
0.753 |
0.139 |
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Administrative And other Expenses |
|
4.739 |
4.140 |
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Selling and Distribution Expenses |
|
3.833 |
4.972 |
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Increase/ Decrease in Stock |
|
2.055 |
(3.320) |
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Excise Duty |
|
3.170 |
6.358 |
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VAT Included in Finished Goods |
|
0.098 |
0.112 |
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TOTAL (B) |
|
116.941 |
77.508 |
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|
219.277 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Interest and Depreciation Expenses ) |
10.333 |
(3.167) |
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Less |
FINANCIAL
EXPENSES (D) |
|
3.239 |
2.950 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
7.094 |
0.217 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
4.111 |
5.371 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.601 |
2.983 |
(5.154) |
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Less |
TAX (I) |
1.257 |
1.334 |
1.559 |
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PROFIT AFTER TAX
(G-I) (J) |
1.344 |
1.649 |
(3.595) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
0.705 |
4.301 |
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BALANCE CARRIED
TO THE B/S |
NA |
2.505 |
0.705 |
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Earnings Per
Share (Rs.) |
2.70 |
3.31 |
7.21 |
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%20-%20137160%2006-Apr-2011_files/image003.gif){kind=small}
%20-%20137160%2006-Apr-2011_files/image004.gif)
Expected Sales (2010-2011) : Rs.240.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
% |
0.60 |
1.30 |
4.46 |
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Net Profit
Margin (PBT/Sales) |
% |
1.17 |
2.34 |
6.39 |
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Return on Total
Assets (PBT/Total
Assets} |
% |
4.01 |
4.75 |
9.34 |
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Return on
Investment (ROI) (PBT/Networth) |
|
0.28 |
0.39 |
0.88 |
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Debt Equity
Ratio (Total
Liability/Networth) |
|
6.29 |
7.49 |
8.97 |
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Current Ratio (Current
Asset/Current Liability) |
|
2.19 |
2.35 |
2.13 |
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LOCAL AGENCY FURTHER INFORMATION
FORM : 8
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Corporate
identity number of the company |
U24231UP1995PTC018526 |
|
Name of the
company |
JYOTI
CAPSULATIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
123/37 Saresh
Bagh, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Bank Of |
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Nature of
instrument creating charge |
1.Composite
Hypothecation Agreement Dated 02-02-2011. 2.Instrumrnt Of Hypothecation
Of Movable Machinery Dated 02/02/2011 . 3.Instrument Of
Hypothecation Of Book Debt Dated 02-02-2011. 4. Declaration
Cum Undertaking Cum Authority . 3. Letter Of
Continuing Security . |
|
Date of
instrument Creating the charge |
02/02/2011 |
|
Amount secured by
the charge |
Rs. 7.200
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : 3.5% Over Base
Rate , I.E. 12.25 % At Present With Monthly Rest . Terms of repayment : As Per Agreement Margin : 25% On Stock 40% On Book
Debts. Extent and operation of the charge : As Per Agreement Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
|
FIXED ASSETS
- Computer
- Building
- Plant and Machinery
- Machinery Spares and Dies
- Furniture and Fixture
- Vehicles
- Boiler
- Chiller Plant
- Building Additions
TRADE REFERENCES :
- Bajrang Chemical Private Limited
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 44.45 |
|
|
1 |
Rs. 71.58 |
|
Euro |
1 |
Rs. 63.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.