MIRA
INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
JAMPANA CONSTRUCTION PRIVATE LIMITED |
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Registered Office : |
No. 389/1, First Floor, Judges Colony, R.T Nagar, Bangalore-560032,
Karnataka |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
19.09.2003 |
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Com. Reg. No.: |
032610 |
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CIN No.: [Company
Identification No.] |
U07010KA2003PTC032610 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRJ01615F |
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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 : |
Construction Activities |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 366740 |
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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 track. The management
has not filed the financials of the company with the government department
after the year 2008. Trade relations are reported as fair. Business is
active. Payment terms are not known. The company can be considered for business dealings with some caution.
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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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
LOCATIONS
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Registered Office : |
No. 389/1, First Floor, Judges Colony, R.T Nagar, Bangalore-560032, |
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Tel. No.: |
91-80-32526270 |
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Fax No.: |
91-80-23332242 |
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E-Mail : |
DIRECTORS
As on 30.09.2008
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Name : |
Mr. Rama Raju |
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Designation : |
Director |
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Address : |
# 759, 7th A Cross, Sector A, Yelahanka, New Town, Bangalore-560064,
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Date of Birth/Age : |
15.07.1969 |
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Date of Appointment : |
19.09.2003 |
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Name : |
Mr. Srinivasa Raju |
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Designation : |
Director |
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Address : |
# 437, HIG, 9th A- Cross, Sector –A, Yelahanka New Town, Bangalore-560064,
Karnataka, India |
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Date of Birth/Age : |
09.08.1967 |
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Date of Appointment : |
31.01.2005 |
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Name : |
Mr. J Venugopala Krishnam Raju |
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Designation : |
Director |
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Address : |
# 437, HIG, 9th A- Cross, Sector –A, Yelahanka New Town,
Bangalore-560064, Karnataka, India |
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Date of Birth/Age : |
01.07.1968 |
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Date of Appointment : |
24.03.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2008
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Names of Shareholders |
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No. of Shares |
|
J |
|
530000 |
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C Prem Chandar Reddy |
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20500 |
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J Sri Rama Raju |
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11000 |
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J Rama Raju |
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10000 |
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M V G K Raju |
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40000 |
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J Srinivasa Raju |
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20000 |
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J Venugopala Krishnam Raju |
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17500 |
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J Aruna |
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16500 |
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J V Ranga Raju |
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10000 |
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J Sridevi |
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210000 |
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J Srilakshmi Prathima |
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22500 |
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J Sudha |
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6500 |
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P Viswanda Raju |
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5000 |
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J Sowjanya |
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10000 |
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J Padma |
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12000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2008
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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14.41 |
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Other top fifty (50) shareholders (Other than listed above) |
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85.59 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Activities |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
Corporation Bank, No. 113, Subedar Chatram Road,
Near Anand Rao Circle, Bangalore-560009, Karnataka, India ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Venkat Malli and Associates Chartered Accountant |
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Address : |
1-408, Divya Shakthi Apartments, 7-1-58, Ameerpet, Hyderabad-500016, |
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Tel. No.: |
91-40-23739728 |
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Associates : |
Shri Aruna Construction (Private) Limited |
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Firms: |
·
Jayshree Constriction ·
R R Construction ·
Sri Chaithanya Constructions ·
Sridevi Properties |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
964500 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.645
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.645 |
1.775 |
1.775 |
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2] Share Application Money |
0.400 |
7.870 |
0.870 |
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3] Reserves & Surplus |
81.640 |
47.266 |
15.950 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
91.685 |
56.911 |
18.595 |
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LOAN FUNDS |
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1] Secured Loans |
48.104 |
18.923 |
61.200 |
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2] Unsecured Loans |
143.437 |
144.532 |
48.708 |
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TOTAL BORROWING |
191.541 |
163.455 |
109.908 |
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DEFERRED TAX LIABILITIES |
1.675 |
1.138 |
0.576 |
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TOTAL |
284.901 |
221.504 |
129.079 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
53.672 |
40.351 |
29.923 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
83.577 |
86.335 |
61.222 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
120.822
|
140.713 |
114.363 |
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Sundry Debtors |
75.048
|
25.114 |
22.820 |
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Cash & Bank Balances |
5.042
|
5.975 |
6.396 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
201.393
|
181.254 |
51.365 |
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Total
Current Assets |
402.305
|
353.056 |
194.944 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
54.693
|
53.234 |
22.703 |
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Other Current Liabilities |
181.758
|
186.874 |
128.584 |
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Provisions |
18.354
|
18.196 |
5.800 |
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Total
Current Liabilities |
254.805
|
258.304 |
157.087 |
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Net Current Assets |
147.500
|
94.752 |
37.857 |
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MISCELLANEOUS EXPENSES |
0.152 |
0.066 |
0.077 |
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TOTAL |
284.901 |
221.504 |
129.079 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SALES |
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TOTAL (A) |
1009.188 |
987.161 |
314.144 |
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Less |
EXPENSES |
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TOTAL (B) |
NA |
NA |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.142 |
56.170 |
18.933 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
61.142 |
56.170 |
18.933 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.118 |
6.096 |
3.173 |
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PROFIT BEFORE
TAX (E-F) (G) |
53.024 |
50.074 |
15.760 |
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Less |
TAX (I) |
18.907 |
18.759 |
6.038 |
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PROFIT AFTER TAX
(G-I) (J) |
34.117 |
31.315 |
9.722 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
3.38
|
3.17 |
3.09 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.63
|
14.58 |
7.01 |
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Return on Investment (ROI) (PBT/Networth) |
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0.58
|
0.88 |
0.85 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.87
|
7.41 |
14.36 |
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Current Ratio (Current Asset/Current Liability) |
|
1.58
|
1.37 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars
|
Rs.
In Millions 31.03.2008 |
Rs.
In Millions 31.03.2007 |
Rs.
In Millions 31.03.2006 |
|
Sundry Creditors for Material |
54.020 |
44.861 |
20.716 |
|
Sundry Creditors for Expenses |
0.673 |
8.373 |
1.987 |
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90193015 |
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Corporate
identity number of the company |
U07010KA2003PTC032610 |
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Name of the
company |
JAMPANA CONSTRUCTION PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
No. 389/1, First Floor, Judges Colony, R.T Nagar, Bangalore-560032, |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Corporation Bank, No. 113, Subedar Chatram Road, Near Anand Rao
Circle, Bangalore-560009, Karnataka, India |
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Nature of
description of the instrument creating or modifying the charge |
Common Deed of
Hypothecation of Movable /Assets/ Detbs |
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Date of
instrument Creating the charge |
23.08.2008 |
|
Amount secured by
the charge |
Rs. 220.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC-COBAR + 0.5% i.e.,
14% p.a. at present subject to revision form time to time. TL-14.5% p.a.
(floating basis) – COBAR + 1% subject to revision form time to time Terms of
Repayment OD – Running
account repayable on demand BG – Validity
period not to exceed 3 years Margin BG – 10% Extent and
Operation of the charge The charge shall
operate to the extent of Rs. 220.000 Millions plus interest, commission, cost
expenses and other charges thereon Others The said amount of
Rs. 220.000 Millions comprises OD Rs. 50.000 Millions (enhanced from Rs.
25.000 Millions) BG Rs. 140.000 Millions (enhanced form Rs. 40.000 Millions)
TL 1Rs. 10.000 Millions and RL 2 Rs. 20.000 Millions continued at existing
level. |
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Short particulars
of the property charged |
Hypothecation by
way of first charge on entire book debts and stocks, entire mofable fixed
assets of the company stored/ installed at various construction/ promect sites. |
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Date of latest
modification prior to the present modification |
03.03.2007 |
Fixed Assets:
·
Construction Accessories
·
Computer and Accessories
·
Furniture and Fixtures
·
Plant and Machinery
·
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.44.99 |
|
|
1 |
Rs.73.23 |
|
Euro |
1 |
Rs.62.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
|
--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 |
YES |
|
--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.