MIRA
INFORM REPORT
|
Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
JAYWANT IMPEX PRIVATE LIMITED |
|
|
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Registered
Office : |
4, Jayashobha Sankul, Opposite Hotel Elegant, Ruikar Colony, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
10.11.2004 |
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Com. Reg. No.: |
11-019929 |
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Capital
Investment / Paid-up Capital : |
Rs.4.995
millions |
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|
|
CIN No.: [Company Identification
No.] |
U51909PN2004PTC019929 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporters and Importers of Agricultural Products and Processed Foods. |
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No. of Employees
: |
Approximately 5 (In Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 28000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate. The management has
not filed the latest financials of the company with the government
departments. Payment terms are unknown. The company can 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.
INFORMATION PARTED BY (General Details)
|
Name : |
Ms. Vidhya |
|
Designation : |
Admin Officer |
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Contact No.: |
91-231-2668824 |
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Date : |
26.07.2011 |
LOCATIONS
|
Registered/ Head Office : |
4, Jayashobha Sankul, Opposite Hotel Elegant, Ruikar Colony, |
|
Tel. No.: |
91-231-2668824/ 2668041/ 2688545/ 2660041 |
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Fax No.: |
91-231-2666279 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Jaywant Nivritti Patil |
|
Designation : |
Chairman cum Managing Director |
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Address : |
4, Datta Kunj Apartment, Mahadik Vasahat, |
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Date of Birth/Age : |
18.05.1968 |
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Date of Appointment : |
10.11.2004 |
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DIN No.: |
01637201 |
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|
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Name : |
Mrs. Radhika Jaywant Patil |
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Designation : |
Director |
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Address : |
4, Datta Kunj Apartment, Mahadik Vasahat, |
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Date of Birth/Age : |
28.06.1974 |
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Date of Appointment : |
10.11.2004 |
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DIN No.: |
01636090 |
KEY EXECUTIVES
|
Name : |
Ms. Vidhya |
|
Designation : |
Admin Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Jaywant Nivritti Patil |
|
49450 |
|
Radhika Jaywant Patil |
|
500 |
|
Total |
|
49950 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporters and Importers of Agricultural Products and Processed Foods. |
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Exports : |
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Products : |
v
Agro Commodities |
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Countries : |
v
Asian Countries v
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Imports : |
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Products : |
v
Agro Commodities v
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Countries : |
v
v
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
Approximately 5 (In Office) |
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Bankers : |
Punjab National Bank, Colaba Branch, Mumbai – 400 005, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walikhindi Tulsulkar and Company Chartered Accountants ( |
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Address : |
7 and 10, ‘Gunjan’ Apartment, Ground Floor, 4th Lane,
Shahupuri, |
|
|
91-231-2661333/ 2661335 |
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PAN No.: |
AAAFW1394F |
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|
|
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Associates/Subsidiaries : |
Jaywant Exports |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
49950 |
Equity Shares |
Rs.100/- each |
Rs.4.995
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.995 |
0.210 |
0.210 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.086 |
0.208 |
0.011 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.081 |
0.418 |
0.221 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.855 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.202 |
4.157 |
1.787 |
|
|
TOTAL BORROWING |
20.057 |
4.157 |
1.787 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
27.138 |
4.575 |
2.008 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.991 |
1.206 |
0.162 |
|
|
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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.006
|
1.501 |
9.841 |
|
|
Sundry Debtors |
17.968
|
17.580 |
1.234 |
|
|
Cash & Bank Balances |
4.488
|
0.211 |
0.454 |
|
|
Other Current Assets |
0.550
|
0.430 |
0.008 |
|
|
Loans & Advances |
0.465
|
0.094 |
0.330 |
|
Total
Current Assets |
33.477
|
19.816 |
11.867 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.151
|
|
10.101 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
|
|
|
Provisions |
1.370
|
0.326 |
|
|
Total
Current Liabilities |
7.521
|
16.505 |
10.101 |
|
|
Net Current Assets |
26.956
|
3.311 |
1.766 |
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MISCELLANEOUS EXPENSES |
0.191 |
0.058 |
0.080 |
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TOTAL |
27.138 |
4.575 |
2.008 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Sales Turnover |
177.045 |
169.898 |
15.044 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.89
|
49.43 |
53.79 |
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|
Current Ratio (Current Asset/Current Liability) |
|
4.45
|
1.20 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
31.03.2007 (Rs. in millions) |
|
Sundry Creditors |
6.151
|
16.179 |
NA |
|
|
|
|
|
PERFORMANCE:
The performance of the Company during this year has increased as compared
to previous year. In spite of the highly competitive market, the Company has
increased the turnover. The sales turnover has increased from Rs.169.898
millions to Rs.177.045 millions in the year ended 31.03.2009.
FORM 8:
|
Corporate identity
number of the company |
U51909PN2004PTC019929 |
|
Name of the
company |
JAYWANT IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4, Jayashobha Sankul, Opposite Hotel Elegant, Ruikar Colony, E-Mail: pgassociate@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10158567 |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Punjab National Bank, Colaba Branch, Mumbai – 400 005, E-Mail: bo0530@pnb.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Packing Credit
Agreement (Hypothecation) |
|
Date of
instrument Creating the charge |
03.12.2009 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 2.50 % below
BPLR, i.e. 9.00 % p.a. Terms of
Repayment: Other Terms and
Conditions as per Agreement. Margin: 25% Other Terms
and Conditions as per Agreement. Extent and
Operation of the charge: Other Terms and
Conditions as per Agreement. |
|
Short particulars
of the property charged |
Hypothecation of
entire Stock of Raw Materials, Stock in Process, Stocks in Transit, Stocks lying
at works/ godowns of the Company and all kinds of receivables and other
current assets. |
|
Particulars of
the present modification |
Present Packing
Credit Limit of Rs.15.000 millions is increased up to Rs.30.000 millions (Net
increase of Rs.15.000 millions). |
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.43.95 |
|
|
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.