MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
JUKEN UNIPRODUCTS PRIVATE LIMITED |
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Registered
Office : |
15, Ring Road, Lajpat Nagar – IV, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
14.12.2005 |
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Com. Reg. No.: |
55-143671 |
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Capital
Investment / Paid-up Capital : |
Rs.25.200 Millions |
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CIN No.: [Company Identification
No.] |
U25206DL2005PTC143671 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Precision Molded Plastic Components |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 87000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
15, Ring Road, Lajpat Nagar – IV, |
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Mobile No.: |
91-9312494963 (Mr. Suman Ganguly) |
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E-Mail : |
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Factory : |
C-14, Sector – 57, Noida – 201307, |
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Tel. No.: |
91-120-2581231 |
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Fax No.: |
91-120-2585031 |
DIRECTORS
As on 20.09.2010
|
Name : |
Mr. Wong Keng Yin |
|
Designation : |
Director |
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Address : |
389, Kew |
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Date of Birth/Age : |
29.09.1955 |
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Date of Appointment : |
21.12.2005 |
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DIN No. : |
00868864 |
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|
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Name : |
Mr. Arun Kumar Seth |
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Designation : |
Director |
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Address : |
30A, Friends Colony West, |
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Date of Birth/Age : |
15.01.1942 |
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Date of Appointment : |
14.12.2005 |
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DIN No. : |
00794656 |
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|
|
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Name : |
Mr. Bobba Seshagiri Rao |
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Designation : |
Director |
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Address : |
5-5, Geetamandir, Mustabada Krishna, Mustabada – 521107, |
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Date of Birth/Age : |
15.08.1971 |
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Date of Appointment : |
14.04.2010 |
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DIN No. : |
02039577 |
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Name : |
Mr. Aditya Capoor |
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Designation : |
Director |
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Address : |
1463, Sector – 37, Noida – 201303, |
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Date of Birth/Age : |
23.04.1963 |
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Date of Appointment : |
08.01.2008 |
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DIN No. : |
00523794 |
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Name : |
Mr. Ashwan Kapur |
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Designation : |
Director |
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Address : |
15, Ring Road, Lajpat Nagar – IV, |
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Date of Birth/Age : |
04.08.1955 |
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Date of Appointment : |
14.04.2010 |
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DIN No. : |
00568432 |
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Name : |
Mr. Lam Peck Heng |
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Designation : |
Director |
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Address : |
20, Jalan Hajijah, # 03-24, |
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Date of Birth/Age : |
09.04.1938 |
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Date of Appointment : |
21.12.2005 |
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DIN No. : |
00868833 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Juken Technology Limited ( |
|
1386000 |
|
Uniproducts India Limited ( |
|
1134000 |
|
Total |
|
2520000 |
As on 20.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
55.00 |
|
Bodies corporate |
45.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Precision Molded Plastic Components |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plastic Injection Components |
Nos. |
NA |
80000000 |
29523238 |
GENERAL INFORMATION
|
Bankers : |
State Bank of |
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Facilities : |
Notes :
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Satish K. Kapoor and Company Chartered Accountant |
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Address : |
D-49, 1st Floor, Pandav Nagar, opposite Mother Dairy Plant,
New Delhi – 110092, Delhi, India |
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|
|
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Holding Company : |
Juken Technology Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2520000 |
Equity Shares |
Rs.10/-each |
Rs.25.200
Millions |
Note :
- Out of which 1386000 shares of Rs.10/- each fully paid up allotted
to M/s Juken Technology Limited.
- Out of which 1134000 Shares of Rs.10/- each fully paid up allotted
to M/s Uniproducts (
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 |
25.200 |
25.200 |
25.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(3.465) |
(9.865) |
(7.386) |
|
|
NETWORTH |
21.735 |
15.335 |
17.814 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.310 |
26.427 |
32.356 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
31.310 |
26.427 |
32.356 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
|
|
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TOTAL |
53.045 |
41.762 |
50.170 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
58.296 |
42.998 |
42.924 |
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|
Capital work-in-progress |
0.894 |
0.058 |
0.240 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
1.678 |
4.973 |
3.738 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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|
|
Inventories |
4.931
|
2.446 |
2.528 |
|
|
Sundry Debtors |
10.717
|
9.826 |
3.919 |
|
|
Cash & Bank Balances |
1.150
|
1.168 |
4.957 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.293
|
1.847 |
3.456 |
|
Total
Current Assets |
21.091
|
15.287 |
14.860 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.695
|
21.067 |
10.294 |
|
|
Other Current Liabilities |
0.257
|
0.179 |
1.234 |
|
|
Provisions |
2.027
|
0.421 |
0.226 |
|
Total
Current Liabilities |
28.979
|
21.667 |
11.754 |
|
|
Net Current Assets |
(7.888)
|
(6.380) |
3.106 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.065 |
0.113 |
0.162 |
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|
|
|
|
|
|
|
TOTAL |
53.045 |
41.762 |
50.170 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
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Income |
|
|
15.987 |
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|
|
Other Income |
|
|
1.606 |
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|
|
TOTAL (A) |
53.318 |
|
17.593 |
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|
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EXPENSES |
|
|
|
|
|
|
|
Materials, Manufacturing and Operating |
|
|
9.062 |
|
|
|
Personnel |
|
|
4.834 |
|
|
|
Sales and Administration |
|
|
4.514 |
|
|
|
Miscellaneous Expenditure Written off |
|
|
0.048 |
|
|
|
Increase / (Decrease) in WIP and Finished Goods |
|
|
(1.063) |
|
|
|
TOTAL (B) |
47.261 |
|
17.395 |
|
|
|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
|
0.198 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
3.206 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
|
(3.008) |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
|
2.292 |
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|
|
|
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
9.695 |
|
(5.300) |
|
|
|
|
|
|
|
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|
Less |
TAX (I) |
3.295 |
|
(1.756) |
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|
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|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
6.400 |
|
(3.544) |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
|
(3.842) |
|
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|
|
|
|
|
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|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(7.386) |
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|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.101 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
3.101 |
0.000 |
0.000 |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.996 |
0.515 |
1.053 |
|
|
|
Stores & Spares |
0.396 |
0.259 |
0.892 |
|
|
|
Capital Goods |
5.025 |
1.326 |
3.567 |
|
|
|
WIP – Moulds |
0.773 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
7.190 |
2.100 |
5.512 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.21
|
-- |
(9.17) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
-- |
(0.30) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.77
|
3.14 |
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73
|
0.70 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
A significant improvement in the Company’s
sales and profitability during the year. For the year ended March 31, 2010, the
Company recorded a turnover of Rs. 53.317 millions and a profit after tax of
Rs. 6.399 millions. The Company has attained the break even sales and commenced
making profits during the year. It is now poised to further improve its
performance in the years ahead.
FORM 8 :
|
Corporate
identity number of the company |
U25206DL2005PTC143671 |
|
Name of the
company |
JUKEN UNIPRODUCTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
15, Ring Road, Lajpat Nagar – IV, |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10082345 |
|
Type of charge |
Book debts Movable property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Supplementary
agreement for hypothecation of goods and assets. |
|
Date of
instrument Creating the charge |
29.03.2011 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest
: Rate of interest
@ 4.75% above base rate present effective rate of interest 13.75% p.a.
(floating) with monthly rests. Terms of
repayment : Repayable on
demand Margin : Stocks / Book
debts – 25% LC / BG – 10% Extent and
operation of the charge : Extent and
operation – 100% Others : The above is to
secure the following credit facilities :- Fund Based = Rs.20.000 Millions Non Fund Based = Rs.10.000
Millions Rs.30.000
Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge on company’s
current assets i.e. all present and future stocks, book debts and other
movable assets both present and future. |
|
Date of
instrument modifying the charge |
18.02.2008 |
|
Particulars of
the present modification |
There being no
change in the overall working capital facilities of Rs.30.000 Millions
(within the overall limits of Rs.70.000 Millions). However fund based limit
has been increased from Rs.10.000 Millions to Rs.20.000 Millions and non fund
base limit has been reduced from Rs.20.000 Millions to Rs.10.000 Millions and
shall continued to be secured by first charge overall present and future
current assets and second charge on entire fixed assets of the company. |
FIXED ASSETS :
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Computers
- Vehicles
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.44.29 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.