MIRA
INFORM REPORT
|
Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
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Name : |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
2, Surachit Apartments, Opposite Gadkari Rangayatan, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.08.1999 |
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Com. Reg. No.: |
11-121214 |
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CIN No.: [Company
Identification No.] |
U21010MH1999PTC121214 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ09368C |
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PAN No.: [Permanent
Account No.] |
AADFJ2657F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Label and Stickers for different industries. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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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 43400 |
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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. There
appears some losses being incurred by the company in the current year.
However, net worth appears to be satisfactory. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct. 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 – April 1, 2010
|
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 |
INFORMATION DECLINED BY
Management non co-operative name not disclosed.
LOCATIONS
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Registered Office : |
2, Surachit Apartments, Opposite Gadkari Rangayatan, |
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Tel No.: |
91-22-5893893 / 26700841 |
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E-Mail : |
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Corporate Office : |
Rai Master Compound, Next to St. Xhavier School, Chitalsar Manapada,
Thane-400 607, Maharashtra, India |
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Tel. No.: |
91-22-25893453, 5893279 |
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Fax No.: |
91-22-25893456 |
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E-Mail : |
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Area : |
2000 sq ft |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Denver Annunciation |
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Designation : |
Director |
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Address : |
˝, Surachit Apartments Opposite Gadkari Rangayatan, |
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Date of Birth/Age : |
06.05.1986 |
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Date of Appointment : |
09.08.1999 |
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Name : |
Mr. Lourdes Annunciation |
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Designation : |
Director |
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Address : |
Surachit Apartments Opposite Gadkari Rangayatan, |
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Date of Birth/Age : |
26.03.1947 |
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Date of Appointment : |
09.08.1999 |
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Name : |
Mr. Janus Annunciation |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders (As on 30.09.2010):- |
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No. of Shares |
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464730 |
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20000 |
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Total |
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484730 |
Equity Shares Breakup (Percentage of Total Equity): as on 30.09.2010
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Sr No. |
Category |
Percentage of
holding |
|
1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Label and Stickers for different industries. |
GENERAL INFORMATION
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Suppliers : |
Ř Arsoma Graphics Ř Ashok Parshram Ingle Ř Colour Tone Ř Jai Durga Ř Janus Flexibles Ř Lehar Processors Ř Metro Blocks Ř Prabhat Ř Print O Graph Ř Renu Transport and Tourist |
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Customers : |
Manufacturer Ř Arlem Breweries Ř
Ř Charminar Breweries Ř Doburg Breweries Ř Impala Distilleries Ř
Ř Salamander Distilleries Limited Ř Shiva Distilleries Limited Ř Shol Distils |
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No. of Employees : |
60 (Including Contract Workers – 20) |
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Bankers : |
v
Citizen Credit Co-Operative Bank Limited, Mulund
Branch, Saidham Complex, Co-Op Hsg Soc, 26-27-28, P K Road, Extn, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
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Facilities : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mundra and Associates Chartered Accountants |
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Address 1 : |
Mundra House, Opp Parekh Medical Stores, Jambli Naka, |
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Address 2 : |
A/301 Devi Darshan, Tembhi Naka, Thane – 400 601, |
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Tel. No.: |
91-22-5453845 / 5343920 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
484730 |
Equity Shares |
Rs.10/- each |
Rs.4.847
millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.847 |
4.847 |
4.847 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.003 |
7.998 |
7.950 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.850 |
12.845 |
12.797 |
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LOAN FUNDS |
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1] Secured Loans |
106.290 |
83.667 |
64.030 |
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2] Unsecured Loans |
2.781 |
0.052 |
0.103 |
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TOTAL BORROWING |
109.071 |
83.719 |
64.133 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
119.921 |
96.564 |
76.930 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
74.833 |
61.598 |
52.718 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.953 |
5.112 |
4.382 |
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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 |
24.846
|
10.503 |
5.539 |
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Sundry Debtors |
35.816
|
35.729 |
25.404 |
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Cash & Bank Balances |
0.383
|
0.141 |
0.048 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
14.469
|
5.759 |
6.426 |
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Total
Current Assets |
75.514
|
52.132 |
37.417 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
34.657
|
21.045 |
16.301 |
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Other Current Liabilities & Provisions |
1.722
|
1.233 |
1.290 |
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Total
Current Liabilities |
36.379
|
22.278 |
17.591 |
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Net Current Assets |
39.135
|
29.854 |
19.826 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
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TOTAL |
119.921 |
96.564 |
76.930 |
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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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SALES |
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|
115.327 |
88.089 |
63.785 |
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Other Income |
|
10.914 |
0.000 |
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TOTAL |
115.327 |
99.003 |
63.785 |
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EXPENSES |
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TOTAL |
117.288 |
97.952 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
9.583 |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
8.533 |
NA |
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PROFIT BEFORE
TAX |
(1.960) |
1.050 |
NA |
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Less |
TAX |
0.013 |
-- |
NA |
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PROFIT AFTER TAX
|
(1.973) |
-- |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(1.71)
|
1.06 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
(1.69)
|
1.19 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(1.30)
|
0.92 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
0.08 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
13.40
|
8.25 |
6.38 |
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Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.34 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors
|
Particulars |
31.03.2010 (Rs. In Millions) |
31.03.2009 (Rs. In Millions) |
31.03.2008 (Rs. In Millions) |
|
Sundry Creditors |
34.657 |
21.045 |
16.235 |
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U21010MH1999PTC121214 |
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Name of the
company |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
2, Surachit Apartments, Opposite Gadkari Rangayatan, |
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This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property |
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Particular of
charge holder |
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Nature of instrument
creating charge |
Supplemental
Agreement of Hypothecation of Tangible
Movable Property & Supplemental Agreement of Hypothecation of Book Debts |
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Date of
instrument Creating the charge |
23.11.2010 |
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Amount secured by
the charge |
Rs. 126.795
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 11%
p.a.(payable monthly), (At Bank's PLR, subject to changes as per Bank's
discretion) Terms of
Repayment To repay additional
Term loan of Rs.3.827 millions in 84 equal monthly instalments after a
moratorium of 6 months from the date of 1st disbursement. Margin Margin @ 25% of
fully paid stocks and 40% of debtors less than 90 days. Extent and
Operation of the charge Repayment of
additional Term loan of Rs.3.827 millions in 84 equal monthly instalments
after a moratorium of 6 months from the date of 1st disbursement. Others Nil |
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Particulars of
the property charged |
Stocks &
machineries of the company present & future.All book debts
outstandings,moneys receivable, claims & bills which are now due &
owing to the company in the course of the business of the Company |
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Date of
instrument modifying the charge |
19.01.2010 |
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Particulars of
the present modification |
Repayment of
additional Term loan of Rs.3.827 millions in 84 equal monthly instalments,
the total outstandings now aggregates to Rs.126.795 millions |
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Corporation identity number or foreign company registrations number of
the company |
U21010MH1999PTC121214 |
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Name of the company |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Address |
2, Surachit Apartments, Opposite Gadkari Rangayatan, |
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This Form is for |
Creation of charge |
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Type of Charges |
Movable property |
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Particular of the charge holder
|
Citizen Credit Co-operative Bank Limited –
Mulund Address: Saidham Complex Co-op Hsg Soc,
26-27-28, P K road, Extn. Mulund (West), Mumbai – 400 080, E-Mail: glen.office@gmail.com |
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Nature or description of the instrument creating charge |
Hypothecation of Tangible movable property
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Date of the instrument creating charge |
15.03.2008 |
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Amount Secure by the charge |
Rs. 18.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Interest @ 12% p.a (payable monthly) (At Bank PLR subject to changes
as per Bank’s discretion) Terms of Repayment: To repay LC cum Term Loan of Rs. 18.500 millions in 84 equal
installments after A moratorium of 6 month, from the date of final
disbursement along with Interest. Margin: Cash Margin @ 10% to be deposited with the branch before opening the
L/C Extent and operation of the charge: Repayment of LC cum term Loan of Rs. 18.500 millions equal
installments after a moratorium of 6 months from the date of final
disbursement along with Interest |
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Short Particulars of the Property charged |
Machineries – Upgradation unit of Gallus Flexographic printing machine
EM 280 and EM 410 Conveyor IEEC Corona Treater, Slitter Air conditioning
Units and Furniture and Fixtures both present and future |
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Name of the company |
JANUS INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Mr. Denver
Annunciation |
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1) Date and
description of instrument creating the change |
Hypothecation of
Tangible movable property and charge and agreement of hypothecation of book debts
of hypothecation of book debts both dated 18.03.2003 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
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3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
Stocks and
machinery belonging to the company present and future all book debts
outstanding money receivables claims and bill which are now due and owing or
which become due and owing to the company in the course of the business of
the company. |
||||||||
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Repayments of cash credit and term loan on demand alongwith Interest
@12% p.a subject to change from time to time.
|
||||||||
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5) Name and
Address and description of the person entitled to the charge. |
Citizen Credit Co-op Bank Limited Address:26-27-28 Saidham Apartments, P K
road, Mulund, Mumbai – 400 080, |
||||||||
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6) Date and brief description of instrument
modifying the charge |
Supplemental
Agreement of hypothecation of Tangible movable property and supplemental
agreement of book debts dated 19.09.2003. |
||||||||
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
To secure the
repayment on demand bank guarantee facility of Rs. 1.310 millions along with
Interest and incidental charges. The aggregates outstanding are Rs. 21.447
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.45.21 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.