MIRA
INFORM REPORT
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Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
JAYANT ENGINEERING AND MARKETING PRIVATE LIMITED |
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Registered Office : |
2003, GIDC, Phase-II, Chhatral, Gandhi Nagar-380054, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.01.1989 |
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Com. Reg. No.: |
04-11720 |
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Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
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CIN No.: [Company
Identification No.] |
U27106GJ1989PTC011720 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMJ01963D |
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PAN No.: [Permanent
Account No.] |
AAACJ5189J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Industrial Valves. |
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No. of Employees
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100 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 26000 |
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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
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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. Ajay Kumar |
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Designation : |
Accounts Manager |
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Contact No.: |
91-2764-234053 |
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Date : |
09.08.2011 |
LOCATIONS
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Registered Office / Factory: |
2003, GIDC, Phase-II, Chhatral, Gandhi Nagar-380054, |
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Tel. No.: |
91-2764-234053 / 232182 |
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Fax No.: |
91-2764-233169 |
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E-Mail : |
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Website : |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Parasmal Saremal Bokadia |
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Designation : |
Director |
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Address : |
5th Giriraj Apatment, 2nd Floor, Jawahar Chowk,
Sabrmati, |
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Date of Birth/Age : |
58 Years |
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Qualification : |
H.S.C. |
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Date of Appointment : |
10.05.1993 |
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DIN : |
01561131 |
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Name : |
Mr. Vishal Parasmal Bokadia |
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Designation : |
Director |
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Address : |
5th Giriraj Apatment, 2nd Floor, Jawahar Chowk,
Sabrmati, |
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Date of Birth/Age : |
27 Years |
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Qualification : |
B. Com. |
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Date of Appointment : |
11.07.2005 |
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DIN : |
01138147 |
KEY EXECUTIVES
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Name : |
Mr. Ajay Kumar |
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Designation : |
Accounts Manager |
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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Parasmal S. Bokadia |
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9300 |
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Pavan P. Bodadia |
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5500 |
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Nitesh P. Bokadia |
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1250 |
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Ashwinkumar S. Palkiwala |
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1 |
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Babulal M. Bokadia |
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1 |
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Vishal Parasmal Bokadia |
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3950 |
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Total |
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20002 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Industrial Valves. |
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Products : |
Gate Valves
Globe Valves
Swing Check Valves
Flush Bottom Valves
Strainers
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Exports : |
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Products : |
Industrial Valves |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS
As on 31.03.2010
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Particulars |
Unit |
Actual
Production |
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Industrial Valves |
Nos. |
0 |
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Industrial Valves Components |
Nos. |
4451 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 [Approximately] |
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Bankers : |
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Facilities : |
Cash Credit: Rs.8.000 millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mehta Lodha and Company Chartered Accountant |
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Address : |
105, Sakar-1, 1st Floor, Opposite Gandhigram Railway
Station, |
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Tel. No.: |
91-79-26586683-85 |
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Fax No.: |
91-79-26586684 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25,000 |
Equity Shares |
Rs.100/- Each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,002 |
Equity Shares |
Rs.100/- Each |
Rs.2.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.729 |
3.592 |
2.727 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.729 |
5.592 |
4.727 |
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LOAN FUNDS |
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1] Secured Loans |
7.455 |
1.179 |
1.324 |
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2] Unsecured Loans |
6.645 |
8.558 |
12.029 |
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TOTAL BORROWING |
14.100 |
9.737 |
13.353 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.829 |
15.329 |
18.080 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.697 |
16.525 |
14.848 |
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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 |
0.085 |
0.177 |
0.288 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.626
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1.297 |
8.200 |
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Sundry Debtors |
13.105
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12.696 |
14.877 |
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Cash & Bank Balances |
0.318
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0.151 |
0.134 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
12.893
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3.207 |
2.504 |
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Total
Current Assets |
32.942
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17.351 |
25.715 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
28.326
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16.381 |
19.145 |
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Other Current Liabilities |
1.239
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2.003 |
3.408 |
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Provisions |
0.330
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0.340 |
0.218 |
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Total
Current Liabilities |
29.895
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18.724 |
22.771 |
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Net Current Assets |
3.047
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(1.373) |
2.944 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.829 |
15.329 |
18.080 |
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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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SALES |
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Income |
83.893 |
76.657 |
64.344 |
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Job Work |
0.000 |
0.000 |
0.001 |
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Other Income |
0.004 |
0.000 |
0.024 |
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TOTAL (A) |
83.897 |
76.657 |
64.369 |
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Less |
EXPENSES |
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Material Cost |
54.166 |
52.843 |
49.736 |
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Manufacturing Expenses |
16.813 |
8.542 |
6.027 |
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Employees Remuneration |
4.299 |
4.191 |
3.625 |
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Office and Administrative Expenses |
1.866 |
1.568 |
0.631 |
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Directors Remunerations |
0.930 |
0.648 |
0.502 |
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Sundry Balance Written Off |
0.000 |
0.063 |
0.001 |
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Increase/ (Decrease) in Stock |
0.119 |
3.948 |
(0.811) |
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TOTAL (B) |
78.193 |
71.803 |
59.711 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.704 |
4.854 |
4.658 |
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Less |
FINANCIAL
EXPENSES (D) |
1.974 |
1.599 |
1.813 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.730 |
3.255 |
2.845 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.353 |
1.898 |
1.506 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.377 |
1.357 |
1.339 |
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Less |
TAX (H) |
0.438 |
0.492 |
0.510 |
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PROFIT AFTER TAX
(G-H) (I) |
0.939 |
0.865 |
0.829 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.591 |
2.726 |
1.897 |
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BALANCE CARRIED
TO THE B/S |
4.530 |
3.591 |
2.726 |
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Earnings Per
Share (Rs.) |
46.94 |
43.23 |
41.46 |
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Particulars |
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31.03.2011 |
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Sales Turnover [Approximately] |
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65.000 |
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[Due to
Renovation] |
The above information has been parted by Mr. Ajay Kumar [Accounts Manager].
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.12 |
1.13 |
1.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.64 |
1.77 |
2.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.72 |
4.00 |
3.30 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20 |
0.24 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.54 |
5.09 |
7.64 |
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Current Ratio (Current Asset/Current Liability) |
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1.10 |
0.93 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES
- Nagarjun
Fertilizers
- Gujarat
Techno Casting Private Limited - Ahmedabad
Financial Results
:
The company has made the net profit of Rs.0.939 million during the year.
The directors hope for better performance in the coming year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27106GJ1989PTC011720 |
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Name of the
company |
JAYANT
ENGINEERING AND MARKETING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
2003, GIDC, Phase-II, Chhatral, Gandhi Nagar-382729, |
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This form is for |
Modification
of Charge |
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Charge
identification (ID) number of the charge to be modified |
10172224 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Industrial Development Bank of |
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Nature of
instrument creating charge |
Memorandum of
entry |
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Date of
instrument Creating the charge |
28.08.2009 |
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Amount secured by
the charge |
Rs.7.000 millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
– At BPLR + 0.50 i.e. 13.25% [at present BPLR is 12.75%] payable monthly Terms of
Repayment – On demand Margin – 25% on
stock and 40% on the book debts upto 90 days Extent and
Operation of the charge – charge is secured by equitable mortgage of the
immovable property of the borrower viz. plot no. 2003, GIDC, Phase II,
Chhatral, Taluka – Kalol, Dist. Gandhinagar, Gujarat to secure cash credit
limit of Rs.7.000 millions sanctioned by IDBI Bank limited. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
immovable
property of the borrower viz. plot no. 2003, GIDC, Phase II, Chhatral, Taluka
– Kalol, Dist. Gandhinagar, |
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Particulars of
the present modification |
Now charge is
also secured by equitable mortgage of the immovable property of the borrower
viz. plot no. 2003, GIDC, Phase II, Chhatral, Taluka – Kalol, Dist.
Gandhinagar, |
Bankers Charges
Report as per Registry
|
Name of the
company |
JAYANT
ENGINEERING AND MARKETING PRIVATE LIMITED |
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Presented By |
Mr. Parasmal S. Bokadia,
Director |
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1) Date and description of instrument creating the change |
Hypothecation of
goods dated 25th day of March, 1995 executed by Jayant Engineering
and Marketing Private Limited in favour of Bank of Baroda (BOB) Chhatral. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.200 millions
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the stocks of
raw materials, consumables, spares, work in progress and finished goods and
book debts pertaining to manufacturing of industrial staint slide gate, metal
pipe fittings etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. The securities
described in column No.3 here in above are as security for cash credit
hypothecation (Limit of Rs.1.200 millions) plus interest cost charges,
expenses, payable by the company to BOB 2. The company
will maintain a margin of 25% on stocks and 50% on book debts 3. The company
will pay interest of 3% OBR in a minimum of 17.5% inclusive of interest tax. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
Deed of hypothecation of goods dated 8th
January, 1998, executed by Jayant Engineering and Marketing Private Limited
in favoring Bank of Baroda, Chhatral. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Extension of
hypothecation, cash credit limit of Rs.0.800 millions to Rs.1.200 millions
with sulimits as under
All other terms
and conditions contained in instrument of hypothecation of goods dated
25.03.1995 and dated 02.09.1996 remains unchanged and unaffected. |
FORM 8
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Corporate
identity number of the company |
U27106GJ1989PTC011720 |
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Name of the
company |
JAYANT ENGINEERING
AND MARKETING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2003, GIDC, Phase-II, Chhatral, Gandhi Nagar-382729, |
|
This form is for |
Modification of charge
|
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Charge
identification number of the modified |
10172224 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Industrial Development Bank of Email ID: yeshpal.singh@idbi.co.in |
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Nature of
instrument creating charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
28.08.2009 |
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Amount secured by
the charge |
Rs.7.000 millions
|
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest At BPLR + 0.50
i.e. 13.25% (At present BPLR is 12.75%) payable monthly. Terms of
Repayment On Demand Margin 25% on stock and
40% on the Book Debts upto 90 days Extent and
Operation of the charge Charge is secured
by Equitable Mortgage of the Immovable Property of the Borrower viz. Plot No.
2003, GIDC Phase-II, Chhatral, Taluka-Kalol, Dist-Gandhinagar, |
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Short particular
of the property or asset(s) charged |
Immovable
Property of the Borrower viz. Plot No. 2003, GIDC Phase-II, Chhatral,
Taluka-Kalol, Dist-Gandhinagar, Gujarat, India |
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Furniture and
Fixtures
- Office
Equipment
- Computer
- Vehicle
- Patterns
- Electrical
Installations
AS PER WEB DETAILS
PROFILE
An ISO 9001 Certified Company, subject is
one of the leading manufacturer and exporter of various types of Industrial Valves and Industrial Strainers. With advanced manufacturing facilities and using
most modern technologies, they provide the highest standard quality valves and
industrial strainers to serve the needs of various industries such as Oil and
Gas, Chemicals, Petrochemicals, Fertilizers, Power plants, Paper Industries,
Refineries, Atomic Energy Plant, Building Equipment, Water and Waste Water
Industries valves. Their unit has also obtained approval from Indian Boiler Board. They give proficient and value added customer
services to their domestic as well as global clients
Established in 1983, Jayant Engineering and Marketing
Private Limited today is
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.