MIRA
INFORM REPORT
|
Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
JVM MARKETING PRIVATE LIMITED |
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Registered
Office : |
Unit No. 205, 2nd Floor, Jogani Industrial Complex, Chunabhatti,
Mumbai-400022, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.02.1993 |
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Com. Reg. No.: |
11-070851 |
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Capital
Investment / Paid-up Capital : |
Rs.0.135
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U50300MH1993PTC070851 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ09593D |
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PAN No.: [Permanent Account No.] |
APPLIEDFOR |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier of Engineering Equipments. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
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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 a well 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Pillai |
|
Designation : |
Key Executive |
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|
|
|
Name : |
Mr. Digvijay Velapure |
|
Designation : |
Director |
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Contact No.: |
91-22-24054503 |
|
Date : |
30.11.2011 |
LOCATIONS
|
Registered Office : |
Unit No. 205, 2nd Floor, Jogani Industrial Complex,
Chunabhatti, Mumbai-400022, Maharashtra, India |
|
Tel. No.: |
91-22-25244883/66751420/24054503/24051572 |
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Fax No.: |
91-22-25244572/24051572 |
|
E-Mail : |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Ravindra B. Kapoor |
|
Designation : |
Director |
|
Address : |
B-508, Silver Arch, Bhakti Park, Adj. to Imax Theater, Wadala (East),
Mumbai-400037, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1944 |
|
Date of Appointment : |
18.02.1993 |
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Din No.: |
02082944 |
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|
|
|
Name : |
Mr. Vijaya Gopal Velapure |
|
Designation : |
Director |
|
Address : |
Aditya Apartments, A/601, Yeshwant Nagar, Vakola, Santacruz (East),
Mumbai-400055, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1952 |
|
Date of Appointment : |
18.02.1993 |
|
Din No.: |
02112499 |
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|
|
|
Name : |
Mr. Digvijay Gopal Velapure |
|
Designation : |
Director |
|
Address : |
Aditya Apartments, A/601, Yeshwant Nagar, Vakola, Santacruz (East),
Mumbai-400055, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1976 |
|
Date of Appointment : |
12.08.2009 |
|
Din No.: |
02751563 |
KEY EXECUTIVES
|
Name : |
Mr. Pillai |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra B. Kapoor |
|
450 |
|
Vijaya Gopal Velapure |
|
350 |
|
Digvijay Gopal Velapure |
|
550 |
|
|
|
|
|
Total |
|
1350 |
As on 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Engineering Equipments. |
GENERAL INFORMATION
|
Suppliers: |
·
AGL Private Limited ·
Kirloskar Brothers Limited ·
Technopoint Control Equipments ·
WPIL Limited ·
Mather and Platt ·
Elastic ·
WPIL, Ghaziabad |
|
|
|
|
No. of Employees : |
Information denied by the management. |
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|
|
|
Bankers : |
Bank of India, Chembur Branch, Chembur Naka, R.C. Marg, Chembur, Mumbai-400071,
Maharashtra, India |
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|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Kothawade and Company Chartered Accountants |
|
Address : |
B-6, Jayant Smruti, Aarti Co-operative Housing Society, Amrut Nagar, Ghatkopar
(West), Mumbai-400086, Maharashtra, India |
|
Tel. No.: |
91-22-25002640/41 |
|
Pan No.: |
AABPK8500G |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1350 |
Equity Shares |
Rs.100/- each |
Rs.0.135
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.135 |
0.135 |
0.135 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
47.561 |
33.720 |
26.790 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.696 |
33.855 |
26.925 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.696 |
33.855 |
26.925 |
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|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
3.036 |
3.288 |
2.465 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.209
|
7.825 |
4.436 |
|
|
Sundry Debtors |
3.896
|
9.214 |
4.822 |
|
|
Cash & Bank Balances |
9.271
|
2.541 |
1.387 |
|
|
Other Current Assets |
34.333
|
30.558 |
35.466 |
|
|
Loans & Advances |
28.044
|
20.669 |
12.658 |
|
Total
Current Assets |
79.753
|
70.807 |
58.769 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.083
|
7.346 |
7.009 |
|
|
Other Current Liabilities |
3.989
|
2.348 |
4.407 |
|
|
Provisions |
27.021
|
30.546 |
22.893 |
|
Total
Current Liabilities |
35.093
|
40.240 |
34.309 |
|
|
Net Current Assets |
44.660
|
30.567 |
24.460 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.696 |
33.855 |
26.925 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SALES |
102.000 |
105.700 |
100.600 |
|
|
|
|
|
|
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|
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|
PROFIT BEFORE
TAX |
20.724 |
22.527 |
17.528 |
|
|
|
|
|
|
|
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|
Less |
TAX |
6.882 |
7.700 |
6.143 |
|
|
|
|
|
|
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|
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|
PROFIT AFTER TAX
|
13.842 |
14.827 |
11.385 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
30.937 |
25.490 |
23.302 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
1.483 |
1.300 |
|
|
|
Tax on Dividend |
0.000 |
7.897 |
7.897 |
|
|
BALANCE CARRIED
TO THE B/S |
44.779 |
30.937 |
25.490 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10253.33 |
10982.96 |
8433.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
20.32
|
21.31 |
17.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.03
|
30.40 |
28.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.67 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.74
|
1.19 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
1.75 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Creditors for
goods |
3.206 |
5.883 |
5.309 |
|
Creditors for
expenses |
0.877 |
1.463 |
1.700 |
|
Total |
4.083 |
7.346 |
7.009 |
PARTIAL DETAILS OF
SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Creditors For Goods |
|
|
|
|
Kirloskar
Brothers Limited |
2.544 |
4.180 |
1.135 |
|
Technopoint
Control Equipment |
0.105 |
0.000 |
0.000 |
|
Mather and Platt |
0.135 |
1.448 |
4.044 |
|
Elastec |
0.307 |
0.000 |
0.000 |
|
|
|
|
|
|
Creditors For Expenses |
|
|
|
|
Hemchandra
Kothawade |
0.104 |
0.255 |
0.000 |
|
Heart Mehta |
0.027 |
0.155 |
0.005 |
|
Pradeep Kapale |
0.055 |
0.000 |
0.085 |
|
K.D. Narwani |
0.035 |
0.000 |
0.000 |
RESULTS OF OPERATIONS:
The sale of the company have decreased from
Rs.105.700 Millions to Rs.102.000 Millions a decrease of 3.50% over the last financial
year (as sales and purchases are accounted at exclusive of taxes method as
compared to inclusive of taxes method employed in the preceding previous year
i.e. FY 2009-10). The profit after tax has decreased from Rs.14.827 Millions to
Rs.
13.842 Millions resulting in as
decrease of 6.75% compared to previous year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U50300MH1993PTC070851 |
|
Name of the company |
JVM MARKETING PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Unit No. 205, 2nd Floor, Jogani Industrial Complex,
Chunabhatti, Mumbai-400022, Maharashtra, India |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
Bank of India, Chembur Branch, Chembur Naka, R.C. Marg, Chembur,
Mumbai-400071, Maharashtra, India |
|
Email |
|
|
Nature of description of the instrument
creating or modifying the charge |
Oral assent for creation of mortgage
charge |
|
Date of instrument Creating the charge |
22.03.2011 |
|
Amount secured by the charge |
Rs.10.000 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest Commission- Rs.180 plus 0.77% per quarter
or part thereof with a minimum of 1.54% plus ST. Terms of Repayment Annual Review Margin 15% in Bank TDR Extent and Operation of the charge Exclusive charge by way of Equitable
mortgage on Compan’s immovable property of the Company Others Limits covered Bank Guarantee Rs.10.000 Millions |
|
Short particulars of the property charged |
Equitable Mortgage on Company's immovable
property viz. Office Premises at Unit No.117 and 205, Building No.6, Shri Sai
Industrial Premises CHS Limited, Jogani Industrial Complex, V.N. Purav Marg. Sion Chembur Road, Chunabhatti, Mumbai-400
022 together with land and buildings and other structures, fixed machinery
and plant, fixtures and fittings erected or installed thereon. |
FIXED ASSETS:
·
Air conditioner
·
BPL Mobile
·
Computer
·
Fax Machine
·
Furniture
·
Motor Car
·
Office
·
Property
·
Refrigerator
·
Tata Sumo
·
Type Writer
·
Swift
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.52.17 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.69.47 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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 |
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.