1. Summary Information
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Country |
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||
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Company Name |
JALAN BROTHERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Mahendra Kumar Sanwalka |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Lalit Kumar Jalan |
|
Registration # |
21-10594 |
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|
Street Address |
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||
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Established Date |
24.06.1941 |
SIC Code |
-- |
|
Telephone# |
91-33-40013723 |
Business Style 1 |
Trading of Electronic Products |
|
Fax # |
91-33-22875156 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Samsung |
|
|
# of employees |
-- |
Product Name 2 |
Casio Digital Camera |
|
Paid up capital |
Rs. 7,905,500 |
Product Name 3 |
Kodak Products |
|
Shareholders |
Bodies corporate 51.23% |
Banking |
UCO Bank |
|
Public Limited Corp. |
-- |
Business Period |
70 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
Ba (47) |
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Relation
-- |
-- |
Company
Name |
-- |
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Note |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
130,480,000 |
Current Liabilities |
34,330,000 |
|
Inventories |
47,319,000 |
Long-term Liabilities |
101,249,000 |
|
Fixed Assets |
675,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
135,579,000 |
|
Invest& other Assets |
8,347,000 |
Retained Earnings |
43,337,000 |
|
|
|
Net Worth |
51,242,000 |
|
Total Assets |
186,821,000 |
Total Liab. & Equity |
186,821,000 |
|
Total Assets (Previous Year) |
150,405,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
572,782,000 |
Net Profit |
2,736,000 |
|
Sales/ Total Income (Previous yr) |
416,838,000 |
Net Profit(Prev.yr) |
1,693,000 |
MIRA INFORM REPORT
|
Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
JALAN BROTHERS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
24.06.1941 |
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Com. Reg. No.: |
21-10594 |
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CIN No.: [Company
Identification No.] |
U17299WB1941PTC010594 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALJ00235E |
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|
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PAN No.: [Permanent
Account No.] |
AAACJ6573C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Electronic Products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear - |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
LOCATIONS
|
Registered Office : |
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Tel. No.: |
91-33-40013723 |
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Fax No.: |
91-33-22875156 |
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E-Mail : |
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Head Office : |
26 Shakespeare Sarani, Kolkata – 700017, West |
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Tel. No.: |
91-33-40013723 / 22473138/ 22873138/ 22905985/ 22905986/ 22903953/
30285027 |
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Fax No.: |
91-33-22875156 |
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E-Mail : |
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Branches : |
Hasan Sole, |
DIRECTORS
AS ON 15.09.2010
|
Name : |
Mr. Mahendra Kumar Sanwalka |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
17.11.1956 |
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Date of Appointment : |
27.11.1998 |
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Name : |
Mr. Lalit Kumar Jalan |
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Designation : |
Director |
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Address : |
25 B, |
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Date of Birth/Age : |
23.02.1956 |
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Date of Appointment : |
18.01.2005 |
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Name : |
Mr. Jag Mohan Jalan |
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Designation : |
Director |
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Address : |
25 B, |
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Date of Birth/Age : |
03.03.1932 |
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Date of Appointment : |
29.03.2004 |
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Name : |
Mr. Akshay Jalan |
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Designation : |
Director |
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Date of Birth/Age : |
25.09.1981 |
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Date of Appointment : |
24.01.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2010
|
Names of Shareholders |
No. of Shares |
|
Jalan Mohan Jag |
6159 |
|
Jalan Kumar Lalit |
20047 |
|
Orion Udyog Private Limited, Kolkata |
6500 |
|
Orion Developments Private Limited, Kolkata |
24000 |
|
Jalan Akshay |
6169 |
|
Lalit Kr Jalan Karta of L K Jalan HUF |
1 |
|
Harington Traders Limited, Kolkata |
10000 |
|
Sanwalka Kumar Mahendra |
10 |
|
Jalan Varun |
6169 |
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|
|
|
Total |
79055 |
Equity Share Breakup
(Percentage of Total Equity)
AS ON 15.09.2010
|
Category |
Percentage of
Holding |
|
|
|
|
Bodies corporate |
51.23 |
|
Directors or relatives of directors |
48.77 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Electronic Products |
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Products: |
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Distributors for : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Amita Associates Chartered Accountants |
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Address : |
454, |
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Pan No : |
AEXPP8031P |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000 |
Equity Shares |
Rs.100/- each |
Rs.8.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
79055 |
Equity Shares |
Rs.100/- each |
Rs.7.905 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.905 |
7.905 |
7.905 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.337 |
40.601 |
38.907 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
51.242 |
48.506 |
46.812 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
16.285 |
12.232 |
24.733 |
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2] Unsecured Loans |
84.964 |
53.039 |
30.376 |
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TOTAL BORROWING |
101.249 |
65.271 |
55.109 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
152.491 |
113.777 |
101.921 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.675 |
0.749 |
0.894 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
8.347 |
0.847 |
0.847 |
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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 |
47.319 |
46.196 |
46.479 |
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Sundry Debtors |
75.488 |
54.148 |
53.352 |
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Cash & Bank Balances |
2.013 |
0.855 |
1.788 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
52.979 |
47.610 |
24.887 |
|
Total
Current Assets |
177.799 |
148.809 |
126.506 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
26.581 |
30.277 |
0.000 |
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Current Liabilities |
0.074 |
0.001 |
20.786 |
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Provisions |
7.675 |
6.350 |
5.540 |
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Total
Current Liabilities |
34.330 |
36.628 |
26.326 |
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Net Current Assets |
143.469 |
112.181 |
100.180 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
152.491 |
113.777 |
101.921 |
|
PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
572.782 |
416.838 |
397.383 |
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Other Income |
11.992 |
40.420 |
0.000 |
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TOTAL (A) |
584.774 |
457.258 |
397.383 |
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Less |
EXPENSES |
|
|
|
|
|
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Cost of Materials |
48.196 |
46.478 |
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Purchases |
553.419 |
437.362 |
395.051 |
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|
Increase/(Decrease) in Finished Goods |
(47.275) |
(46.196) |
|
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|
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Administrative Expenses |
18.436 |
12.185 |
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Spare Parts Consumed |
0.093 |
0.000 |
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TOTAL (B) |
572.869 |
449.829 |
395.051 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.905 |
7.429 |
2.332 |
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Less |
FINANCIAL
EXPENSES (D) |
7.673 |
4.736 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.232 |
2.693 |
2.332 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.171 |
0.190 |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
4.061 |
2.503 |
2.332 |
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Less |
TAX (H) |
1.325 |
0.810 |
0.851 |
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PROFIT AFTER TAX
(G-H) (I) |
2.736 |
1.693 |
1.481 |
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Earnings Per
Share (Rs.) |
34.62 |
21.43 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.46 |
0.37 |
0.37 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
0.70 |
0.60 |
0.58 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.27 |
1.67 |
1.83 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.05 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.64 |
2.10 |
1.74 |
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Current Ratio (Current Asset/Current Liability) |
|
5.17 |
4.06 |
4.81 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80009863 |
|
Corporate
identity number of the company |
U17299WB1941PTC010594 |
|
Name of the
company |
JALAN BROTHERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
Citibank N A, E-Mail: vinod.raghavan@citigroup.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Modification |
|
Date of instrument
Creating the charge |
29.01.2007 |
|
Amount secured by
the charge |
Rs. 160.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit –
10.50 % p.a. Terms of
repayment Cash Credit /
Bank Guarantee – Revolving Facility and repayable on demand and as per
original composite hypothecation agreement dated 08.03.2005 Margin Cash credit – 32
% on stock and 40 % on book debts and as per original composite hypothecation
agreement dated 08.03.2005 Extent operation
of the charge Secured by way of
hypothecation and first exclusive charge on stock, book debts and plant and
machinery forming part of current and fixed assets both present and future. |
|
Short particulars
of the property charged |
Hypothecation of
stock and book debts forming part of current assets both present and future,
hypothecation of other movable including forming part of fixed assets of the
company. |
|
Date of latest
modification prior to the present modification |
01.09.2006 |
|
Particulars of
the present modification |
By this
modification the overall limit has been enhanced from Rs. 145 Millions to Rs.
160 Millions. |
FIXED ASSETS
·
Land
·
Motor Car
·
Computer
·
Fax Machine
·
Furniture
·
AC Machine
·
Mobile Phone
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] 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.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.