MIRA
INFORM REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
JAGDISH AND SONS PRIVATE LIMITED |
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Registered
Office : |
984-987, 1st Floor, Bhojpura, Maliwara, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.08.1993 |
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Com. Reg. No.: |
55-054913 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.131 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1993PTC054913 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ02158C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Supplier
of Embroidered Sarees, Ladies Suits and Dupattas, etc. |
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No. of Employees
: |
44 [In Office] Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba [45] |
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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 30000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
|
Name : |
Mr. Yogesh Gupta |
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Designation : |
Director |
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Contact No.: |
91-11-23265643 |
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Date : |
21.07.2011 |
LOCATIONS
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Registered Office : |
984-987, 1st Floor, Bhojpura, Maliwara, |
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Tel. No.: |
91-11-23321432 / 23265643 |
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Fax No.: |
91-11-23321432 / 23265962 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Jagdish Prasad Gupta |
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Designation : |
Director |
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Address : |
E – 546, G.K. – II, |
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Date of Birth/Age : |
27.11.1938 |
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DIN : |
00943645 |
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Date of Appointment : |
23.11.1993 |
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Name : |
Mr. Yogesh Gupta |
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Designation : |
Director |
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Address : |
E – 546, G.K. – II, |
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Date of Birth/Age : |
24.08.1967 |
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DIN : |
00943680 |
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Date of Appointment : |
23.11.1993 |
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Name : |
Mrs. Deepa Yogesh Gupta |
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Designation : |
Director |
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Address : |
E – 546, G.K. – II, |
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Date of Birth/Age : |
15.08.1968 |
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DIN : |
01392729 |
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Date of Appointment : |
01.03.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Jagdish Prasad Gupta |
|
380 |
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Yogesh Gupta |
|
390 |
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Deepa Yogesh Gupta |
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250 |
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Sneh Lata Gupta |
|
250 |
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Ritu Gupta |
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10 |
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Monika Gupta |
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10 |
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Jagdish Prasad Gupta - HUF |
|
10 |
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Yogesh Gupta - HUF |
|
10 |
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Total |
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1310 |
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Supplier
of Embroidered Sarees, Ladies Suits and Dupattas, etc. |
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Products : |
Embroidered Sarees, Ladies Suits and Dupattas, etc. |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
44 [In Office] Approximately |
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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 : |
Garg Agarwal and Associates Chartered Accountant |
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Address : |
16C, Atma Ram House, 1 Tolstoy Marg, |
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Sister Concern : |
Shreya Designer |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs.100/-each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1,310 |
Equity Shares |
Rs.100/-each |
Rs.0.131 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.131 |
0.131 |
0.131 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.583 |
5.754 |
3.744 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.714 |
5.885 |
3.875 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
11.115 |
14.326 |
14.033 |
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TOTAL BORROWING |
11.115 |
14.326 |
14.033 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.829 |
20.211 |
17.908 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.118 |
2.712 |
2.218 |
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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 |
0.145 |
0.107 |
0.075 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
41.872
|
51.386 |
13.895 |
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Sundry Debtors |
58.790
|
58.868 |
42.567 |
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Cash & Bank Balances |
0.251
|
3.617 |
2.618 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
2.426
|
1.712 |
1.350 |
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Total
Current Assets |
103.339
|
115.583 |
60.430 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
84.888
|
96.132 |
42.903 |
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Other Current Liabilities |
0.937
|
0.970 |
1.103 |
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Provisions |
0.948
|
1.089 |
0.809 |
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Total
Current Liabilities |
86.773
|
98.191 |
44.815 |
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Net Current Assets |
16.566
|
17.392 |
15.615 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.829 |
20.211 |
17.908 |
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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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PROFIT BEFORE
TAX |
2.672 |
3.066 |
1.835 |
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Less |
TAX |
0.842 |
1.057 |
0.654 |
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PROFIT AFTER TAX
|
1.830 |
2.009 |
1.181 |
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Earnings Per
Share (Rs.) |
1397 |
1534 |
-- |
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Particulars |
|
31.03.2011 |
31.03.2010 |
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Sales Turnover [Approximately] |
|
250.000 |
230.000 |
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The above information has been parted by Mr. Yogesh Gupta [Director]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.53
|
2.59 |
2.93 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.52 |
0.47 |
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Debt Equity Ratio (Total Liability/Networth) |
|
12.69
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19.12 |
15.19 |
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Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.18 |
1.35 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
:
- Vishal Prints
- Ambika
Fashions
- Aditya
Fabrics
Note : Registered office address
of the company has been shifted from 991, Bhojpura, Maliwara,
Operations :
During the year of business, the company has earned net profit of
Rs.2.672 millions as compared to Rs.3.066 millions of previous year and after
making a tax provision of Rs.0.842 million [previous year Rs.1.057 millions]
and adjustment of deferred tax assets balance of Profit Rs. 1.830 Millions is
carried over to balance sheet.
FIXED ASSETS :
·
Computer Machine
·
Motor Car
·
Scooter
·
Laptops
·
Cooler
·
Fan
·
Fax Machine
·
Air Conditioner
·
Inverter
·
Water Filter
·
Video Camera
·
Generator
·
Tea Machine
·
Mobile Phones
·
Refrigerator
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.44.15 |
|
|
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.