1. Summary Information
|
Reference
# |
135-256574-02-020(20110224631) |
Country |
India |
|
|
Company Name |
BLUE JAY TEXOWAD PRIVATE LIMITED |
Principal Name 1 |
Mr. Amit Kapoor |
|
|
Status |
Moderate |
Principal Name 2 |
Mr. Robin Kapoor |
|
|
Our Reference # |
134135 |
Registration # |
55-097373 |
|
|
Street Address |
C/o C.K. Chawla, A – 213, Derawal Nagar, New Delhi – 110 009, Delhi,
India |
|||
|
Established Date |
09.12.1998 |
SIC Code |
- |
|
|
Telephone# |
91-180-2671424 |
Business Style 1 |
Manufacturer |
|
|
Fax # |
- |
Business Style 2 |
Dealer |
|
|
Homepage |
- |
Product Name 1 |
Non - woven fabrics/ felt |
|
|
# of employees |
- |
Product Name 2 |
- |
|
|
Paid up capital |
Rs.7,493,660/- |
Product Name 3 |
- |
|
|
Shareholders |
Directors
or Relatives of Directors-73.69% Other
Top Fifty Shareholders-26.31% |
Banking |
Bank of India |
|
|
Public Limited Corp. |
NO |
Business Period |
12 years |
|
|
IPO |
NO |
International Ins. |
- |
|
|
Public |
NO |
Rating |
B (29) |
|
|
Related
Company |
||||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
- |
- |
- |
- |
|
|
Note |
- |
|||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
24,279,000
|
Current Liabilities |
28,302,000
|
|
Inventories |
4,604,000
|
Long-term Liabilities |
9,745,000 |
|
Fixed Assets |
22,252,000 |
Other Liabilities |
1,694,000
|
|
Deferred Assets |
-- |
Total Liabilities |
39,741,000 |
|
Invest& other Assets |
958,000 |
Retained Earnings |
4,858,000 |
|
|
|
Net Worth |
12,352,000 |
|
Total Assets |
52,093,000 |
Total Liab. & Equity |
52,093,000 |
|
Total Assets (Previous Year) |
82,922,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
78,441,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
72,750,000 |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2011 |
|
|
|
|
Tel. No.: |
91-180-2671424 |
IDENTIFICATION DETAILS
|
Name : |
BLUE JAY TEXOWAD PRIVATE LIMITED |
|
|
|
|
Registered Office : |
C/o C.K. Chawla, A – 213, Derawal Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
09.12.1998 |
|
|
|
|
Com. Reg. No.: |
55-097373 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17299DL1998PTC097373 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Dealer of all kinds of Textile Good, Fabrics,
Non-Woven Fabrics and Wodings. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for small business dealings at usual
trade terms and conditions, with slight 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
C/o C.K. Chawla, A – 213, Derawal Nagar, |
|
E-Mail : |
|
|
|
|
|
Factory : |
Gat No.199/ 200, |
|
Tel. No.: |
91-180-2671424 |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Amit Kapoor |
|
Designation : |
Director |
|
Address : |
1088, Huda, Phase 2, Sector 12, Panipat – 132 103, |
|
Date of Appointment : |
09.12.1998 |
|
|
|
|
Name : |
Mr. Robin Kapoor |
|
Designation : |
Director |
|
Address : |
1088, Huda, Phase 2, Sector 12, Panipat – 132 103, |
|
Date of Appointment : |
09.12.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pankaj Kapoor |
|
62500 |
|
Robin Kapoor |
|
37600 |
|
Ridhima Kapoor |
|
26600 |
|
Park Non Woven
(Private) Limited, India |
|
130000 |
|
Renu Goel |
|
25000 |
|
Park Felts
(Private) Limited, India |
|
165000 |
|
Pankaj Kapoor
H.U.F |
|
15000 |
|
Dinesh Gandhi |
|
6800 |
|
Kiran Kapoor |
|
34600 |
|
Amit Kapoor |
|
48800 |
|
Vishal Kapoor |
|
28466 |
|
Kanchan Kapoor |
|
10000 |
|
Mandit Jit Singh
|
|
20000 |
|
Anil Sharma |
|
5000 |
|
Anil Spinner |
|
5000 |
|
Jagpal Singh |
|
10000 |
|
Satbir Singh |
|
10000 |
|
Altar Singh |
|
10000 |
|
Suresh Kumar |
|
10000 |
|
Rajbir Singh |
|
10000 |
|
Pinkle Rawal |
|
4500 |
|
Indrawati |
|
20100 |
|
Ashok Kapoor |
|
1800 |
|
Kamal Kapoor |
|
1800 |
|
Santi Sorup
Gandhi |
|
1800 |
|
Pankaj Paruthi |
|
1800 |
|
Parminder Singh |
|
1800 |
|
Manoj Kumar |
|
1800 |
|
Kapil Bhudiraja |
|
1800 |
|
Bishambar Lal
and Sons HUF |
|
20000 |
|
Shipra Kapoor |
|
20000 |
|
Raghav Bhaya |
|
1800 |
|
Total |
|
749366 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
73.69 |
|
Other
top fifty shareholders |
|
26.31 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Dealer of all kinds of Textile Good, Fabrics,
Non-Woven Fabrics and Wodings. |
|
|
|
|
Products : |
Non - Woven Fabrics/ Felt |
GENERAL INFORMATION
|
Bankers : |
v Bank of India,
G. T. Road, Paipat-132103, Haryana, India |
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Aviral and Company Chartered Accountants |
|
Address : |
1231-A, Bindle Bhawan, |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
749367 |
Equity Shares |
Rs. 10/- each |
Rs. 7.494
millions |
|
|
|
|
|
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 |
7.494 |
7.194 |
6.053 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.991 |
|
|
3] Reserves & Surplus |
4.858 |
2.670 |
2.272 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.352 |
9.864 |
9.316 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.154 |
10.929 |
11.076 |
|
|
2] Unsecured Loans |
2.591 |
0.091 |
0.091 |
|
|
TOTAL BORROWING |
9.745 |
11.020 |
11.167 |
|
|
DEFERRED TAX LIABILITIES |
1.694 |
1.462 |
0.649 |
|
|
|
|
|
|
|
|
TOTAL |
23.791 |
22.346 |
21.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22.252 |
19.715 |
20.533 |
|
|
Capital work-in-progress |
0.000 |
1.864 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.750 |
0.750 |
0.750 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.604
|
4.281 |
1.853
|
|
|
Sundry Debtors |
20.979
|
23.344 |
28.534
|
|
|
Cash & Bank Balances |
1.037
|
0.180 |
0.555
|
|
|
Other Current Assets |
0.283
|
0.311 |
0.000
|
|
|
Loans & Advances |
1.980
|
1.950 |
2.042
|
|
Total
Current Assets |
28.883
|
30.066 |
32.984 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.885
|
29.984 |
|
|
|
Other Current Liabilities |
0.134
|
0.109 |
33.154
|
|
|
Provisions |
0.283
|
0.195 |
0.249
|
|
Total
Current Liabilities |
28.302
|
30.288 |
33.403 |
|
|
Net Current Assets |
0.581
|
(0.222) |
(0.419)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.208 |
0.239 |
0.268 |
|
|
|
|
|
|
|
|
TOTAL |
23.791 |
22.346 |
21.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
TURNOVER |
78.441 |
72.750 |
41.163 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.598 |
1.397 |
1.772 |
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.04
|
1.92 |
4.30
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.13
|
2.81 |
3.31
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.22
|
4.33 |
4.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
0.99 |
0.99
|
LOCAL AGENCY FURTHER INFORMATION
COMPANY PERFORMANCE:
During the year
ended on March 31st, 2010, the company has achieved turnover of Rs.78.441
millions as compared to previous year of Rs.72.750 millions. The company has
earned profit before tax of Rs.1.598 millions in comparison to profit of Rs.1.397
millions in the previous year. The company has not distributed any dividend
during the year.
FORM 8
|
Corporate
identity number of the company |
U17299DL1998PTC097373 |
|
Name of the
company |
BLUE
JAY TEXOWAD PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C.K. Chawla, A – 213, Derawal Nagar, New Delhi – 110 009, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Bank of India, G. T. Road, Paipat-132103, Haryana, India |
|
Nature of
instrument creating charge |
Agreement
of hypothecation of plant and machinery, stocks and book debts. |
|
Date of
instrument Creating the charge |
18.06.2010 |
|
Amount secured by
the charge |
Rs. 10.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate
of Interest at BOI BPLR Presently 12% P. A. or at such other rates as may be
specified by the Bank from time to
time. Terms of
repayment Repayment on demand Margin 25%
against raw material, finished goods. 25%
against stores. 25%
against goods-in-process. 40%
against book-debts outstanding for 2 or 3 months. 100%
against book-debts outstanding for more than 3 months to less than 6 months. Extent and
operation of the charge Availed
Credit Facilities of Rs.100.00Lakhs (Working Capital Limit of Rs.5.000
millions (Against Stocks of Rs.2.000 millions and Against Book Debts of
Rs.3.000 millions) and NFBL, L/C Facility of Rs.50.00Lakhs, Maximum Facilities
of Rs.100.00Lakhs) |
|
Short particulars
of the property charged (Including location of the property) |
1.
Hypothecation of All Stock of Raw
Material i.e. Rags, Synthetic Fibres, PF Resin, resonated Felt, needle Felt,
etc and Finished Goods, Semi Finished Goods whether in transit or lying at
factory premises and wherever situated. 2.
Hypothecation of Present and Future
Book Debts. 3.
Hypothecation of Plant and Machinery |
FIXED ASSETS:
- Building
- Land
- Plant and Machinery
- Furniture and Fixtures
- Vehicles
- Computer
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 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.44.99 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.