BUSINESS INFORMATION REPORT
1. Summary Information
|
Reference
# |
135-102436-06-020(20110525379) |
Country |
|
|
Company Name |
JUPITER INTERNATIONAL LIMITED |
Principal Name 1 |
MR. ALOK GARODIA |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. RAJ KUMAR GARODIA |
|
Our Reference # |
143190 |
Registration # |
21-031668 |
|
Street Address |
30, |
||
|
Established Date |
08.09.1978 |
SIC Code |
-- |
|
Telephone# |
91-33-22121406 |
Business Style 1 |
IMPORTERS |
|
Fax # |
91-33–22258232 |
Business Style 2 |
DISTRIBUTORS |
|
Homepage |
Product Name 1 |
COMPUTER PERIPHERALS |
|
|
# of employees |
86 |
Product Name 2 |
COMPUTER PARTS |
|
Paid up capital |
Rs.119,181,580/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE-71.24% DIRECTORS OR RELATIVES OF DIRECTORS-28.43% OTHERS-0.33% |
Banking |
STATE BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
33 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SUBSIDIARY
|
|
JUPITER SOLAR POWER LIMITED |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
551,921,000
|
Current Liabilities |
299,929,000
|
|
Inventories |
249,652,000
|
Long-term Liabilities |
545,192,000 |
|
Fixed Assets |
297,804000 |
Other Liabilities |
4,947,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
850,068,000 |
|
Invest& other Assets |
342,465,000 |
Retained Earnings |
468,592,000 |
|
|
|
Net Worth |
591,774,000 |
|
Total Assets |
1,441,842,000 |
Total Liab. & Equity |
1,441,842,000 |
|
Total Assets (Previous Year) |
1,257,749,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,891,002,000 |
Net Profit |
41,625,000 |
|
Sales(Previous yr) |
1,890,212,000 |
Net Profit(Prev.yr) |
14,142,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.05.2011 |
|
|
|
|
Tel. No.: |
91-33-22121406 |
|
Fax No.: |
91-33-22258232 |
IDENTIFICATION DETAILS
|
Name : |
JUPITER INTERNATIONAL LIMITED |
|
|
|
|
Formerly Known
As : |
JUPITER INFOSYS LIMITED |
|
|
|
|
Registered
Office : |
30, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
08.09.1978 |
|
|
|
|
Com. Reg. No.: |
21-031668 |
|
|
|
|
Paid-up Capital : |
Rs.119.181 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1978PLC031668 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALJ02226A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ6956B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited
Liability Company |
|
|
|
|
Line of Business
: |
Importers, Distributors and Traders of Computer Hardware and
Peripherals. |
|
|
|
|
No. of Employees
: |
86 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2367000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-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 – 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/ Head Office : |
30, |
|
Tel. No.: |
91-33-22121406/ 1407/ 1408/ 1409/ 1410/ 22373660/ 22379410/ 22372596
/7 /8 /9 /10/ 40159000 |
|
Fax No.: |
91-33–22258232/ 24761665/ 22121404/ 40159037 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2728 sq.ft. |
|
Location : |
Leased (Commercial ) |
|
|
|
|
Warehouse : |
·
30, ·
3 and 4, ·
Kybian Warehouse, ·
4, ·
12, Gopeswar, Ground Floor, ·
J. Jalaman Complex, ·
Sai Prasad, Flat No. 5, Nav Ghar, Opposite Kirana
Hotel, Vasai, District Thane – 400 102, Maharashtra, India ·
Above Ingole Kiran Bhandar, Behind Gulshan Petrol
Pump, Plot No. 51, Amarawati Road, Wadi, Nagpur, Maharashtra, India ·
B/4, ·
207, Shakuntala Apartments, 59, ·
Bunglow No. 2, Satellite Complex, Opposite Mansi
Tower, Prem Chand Nagar Road, Ahmedabad – 380 015, Gujarat, India ·
Sri. R. B. Complex (1st and 2nd
Floor), 4 and 5 Poojari Cheluvaiah Lane, ·
92, Navyug Market, ·
SDMC, Electronic Division, 84/86, ·
1-8-32/61/21, Bapu Bagh Colony, ·
3/3, South Tukoganj, Near ·
Mittal Complex, 2nd Floor, Teghani
Naka, ·
Godown No. 3, Transport Nagar, ·
Jain Gali, ·
Plot No. A/11, Saheed Nagar, ·
17, Goyal Row House, Opposite T. V. Tower,
Thaltej, Ahmedabad - 380 054, ·
Sri Ramabhadra Complex, 4 and 5, P. C. Lane, SJP
Road Cross, 1st & 2nd Floor, Bangalore - 560 002,
Karnataka, India ·
8, ·
1, Nallathambi Street, Ground Floor, Near Anna
Statue, Mount Road, Chennai - 600 002, Tamilnadu, India ·
557, Chira Bazar, 1st Floor, Above ·
·
House # 802 / 8, ·
House # 682, ·
A-97, Shardapuri, ·
B-1, ·
G-3, |
|
Area : |
60000 sq. ft. |
|
Location : |
Rented Commercial |
|
|
|
|
Branch Office : |
Located at: ·
Ahmedabad ·
·
· Chennai ·
· Guwahati ·
·
Jaipur ·
·
·
·
·
· Panchkula ·
Pune ·
· Secunderabad |
DIRECTORS
As on 17.05.2010
|
Name : |
Mr. Alok Garodia |
|
Designation : |
Managing Director |
|
Address : |
“Unnayanam”, 20A, |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
26.09.1996 |
|
Election Commission Identity Card No.: |
WB / 23 / 146 / 384634 |
|
|
|
|
Name : |
Mr. Raj Kumar Garodia |
|
Designation : |
Whole Time Director |
|
Address : |
52/1, |
|
Date of Birth/Age : |
09.01.1940 |
|
Date of Appointment : |
02.12.2002 |
|
Election Commission Identity Card No.: |
WB / 23 / 146 / 384632 |
|
|
|
|
Name : |
Mr. Lalit Prakash Bhartia |
|
Designation : |
Whole Time Director |
|
Address : |
2142, Hal, 2nd Stage, 16th Main First B Cross, |
|
Date of Birth/Age : |
09.06.1961 |
|
Date of Appointment : |
01.04.2006 |
|
|
|
|
Name : |
Mr. Timir Baran Chatterjee |
|
Designation : |
Director |
|
Address : |
Poulmi Apartment, Flat No.3, 1/1, |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
29.03.2008 |
|
|
|
|
Name : |
Mr. Sujit Sen |
|
Designation : |
Additional Director |
|
Address : |
50, |
|
Date of Birth/Age : |
03.11.1951 |
|
Date of Appointment : |
29.03.2008 |
|
|
|
|
Name : |
Mr. Atul Kumar Labh |
|
Designation : |
Director |
|
Address : |
Merlin Laurel Garden, Ruby-4E, 471, |
|
Date of Birth/Age : |
22.02.1973 |
|
Date of Appointment : |
30.09.2009 |
|
|
|
|
Name : |
Mr. Manoj Banthia |
|
Designation : |
Additional Director |
|
Address : |
38/5, |
|
Date of Birth/Age : |
07.11.1967 |
|
Date of Appointment : |
29.03.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.05.2010
|
Names of Shareholders |
|
No. of Shares |
|
Raj Garodia |
|
573600 |
|
Sushila Garodia |
|
448000 |
|
Alok Garodia |
|
701998 |
|
Anju Garodia |
|
385000 |
|
Sangita Bhartia |
|
114000 |
|
Raj Kumar Garodia (HUF) |
|
682860 |
|
Stuti Tie-Up Private Limited, |
|
2750000 |
|
Archana Bagaria |
|
16600 |
|
Dayanidhi Management Private Limited, |
|
5070700 |
|
Alok Garodia (HUF) |
|
442500 |
|
Lalit Prakash Bhartia |
|
10050 |
|
Kanupriya Bhartia |
|
2500 |
|
Shreya Bhartia |
|
2500 |
|
Bina Bukrediwala |
|
10000 |
|
Gauri Shanker Garodia |
|
5000 |
|
Gauri Shanker Garodia (HUF) |
|
5000 |
|
Dhruv Sharma |
|
50 |
|
Hirdejit Singh Chahal |
|
50 |
|
Vishnu Dutt Malik |
|
2550 |
|
Akash Garodia |
|
25200 |
|
Delight Tie-up Private Limited, |
|
670000 |
|
Total |
|
11918158 |
As on 17.05.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
71.24 |
|
Directors
or relatives of directors |
|
28.43 |
|
Others
|
|
0.33 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers, Distributors and Traders of Computer Hardware and
Peripherals. |
||||||||
|
|
|
||||||||
|
Products : |
·
Computer Monitors ·
Computer Printers ·
Floppy Diskettes and Peripherals
|
||||||||
|
|
|
||||||||
|
Brand Names : |
“AMS”, “FRONTECH”, “FULLMARK”, “GENIUS”, “IMATION”, “LG”, “SAMSUNG”,
“SEAGATE”, “VIA”, “ASROCK”, “PLEOMAX” |
||||||||
|
|
|
||||||||
|
Agencies Held : |
·
Fullmark Pte Limited, ·
Distributors for Inke ·
E-Sys distribution Pte. Limited ·
Distributors of Benq-CDR ·
Seagate Technologies International ·
Samsung Asia Pte. Limited ·
LG Premium Partners ·
Channel Partners of Asus ·
Imation Singapore Pte Limited, ·
Avnet Limited, ·
Karma Distribution ( ·
Kye Systems Corporation, ·
LG Electronics ( ·
VIA Technologies Inc., ·
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Countries : |
·
·
·
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Countries : |
·
·
·
·
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash, Credit (15-30 days and 14 days) or other terms |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, D/A or D/P, Credit (30 to 60 days) or other terms |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
|
Installed
Capacity* |
Actual
Production |
|
Computer Peripherals, Part and Consumables |
Pcs. |
|
77760000 |
71999986 |
|
|
|
|
|
|
*(As certified
by the Management and on which Auditors have placed reliance, this being a
technical matter)
GENERAL INFORMATION
|
Suppliers : |
·
A B Pacific Industrial Company Limited, ·
Accorp Electronics Corporation, ·
Actima Technology Corporation, ·
American Components (S) Pte Limited, ·
Ascork Inc., ·
Avnet Limited, ·
CIS ·
Domex ·
Esys Distribution Pte Limited, ·
Fullmark Pte Limited, ·
Ginda Industries Limited, ·
Juster International Company, ·
Kam Han Industrial Limited, ·
Karma Distribution ( ·
Kobian Singapore Pte Limited, ·
Key System Corporation, ·
·
LG Electronics ( ·
·
Maca Link Limited, ·
Nivs Audio and Video Tech Company Limited, ·
Ortek Technology Inc., ·
Procomp Informatics Limited, ·
Samsung Asia Pte Limited ·
Seagate Technologies International ·
Sunshine Merchandise Limited, ·
·
·
VIA Technologies Inc., |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Hari Vallabh Computers Private Limited, UGF 10,
Meghdeep Apartments, Badakev, Vastrapur, Ahmedabad, ·
Deepax Apartment, Had ·
Ankit Computer, ·
·
Computer Warehouse, 710, Barton Centre, ·
Golchaa Intertrade, 69/70, ·
Kesari Trading Company, # 106, 13th
Cross, 20th Main, 2nd Phase, J. P. Nagar, Bangalore -
560 078, Karnataka, India ·
Lalani International, 25, ·
Saboo Computers Private Limited, 7, ·
Supreme Technologies Private Limited, 5, ·
MBT Infosys, 23/1, ·
Arihant Business Machines, 130/41, ·
Balaji Infotech, 31, ·
Devraj Computers Private Limited, Gee Gee
Complex, 3rd Floor, 42, ·
Megastaff Computers, 31, ·
S. B. Infotech, 61, ·
Abaccus Computer Systems, R-403, 3rd
Floor, Pariear Apartments, Near Ekvira Hart Institute, Gandhinagar, ·
Xperts Information Technology, A/103, Super
Shopping Centre, ·
Arihant Computers, 9A, Lamington Chambers, 1st
Floor, ·
Dart Computers Private Limited, Plot # 4, Opp.
NMC Hotmix Plant I, Hinga Road, Nagpur - 440 016, Maharashtra, India ·
Dai Ichi Electronics, B-191, Phase I, Naraina Industrial
Area, ·
Anmol Automation, 103-A, ·
Jupiter Sales Agency, 103-C, ·
Simple Technologies Private Limited, B-19,
Hemkunt Chambers, 89, Nehru Place, New Delhi - 110 019, India ·
Sri Sai Infotech Private Limited, G-7, Deepali,
92, |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
No. of Employees : |
86 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
The Bank of Rajasthan Limited, 6, ·
The Bank of Rajasthan Limited, ·
Centurion Bank Limited, Shah House, P-34, ·
Standard Chartered Grindlays Bank Limited, 19, ·
HDFC Bank, Dalhausie Branch, Kolkata, West ·
Allahabad Bank, Industrial Finance Branch, 17, |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Chhaparia and Associates Chartered Accountants |
|
Address : |
|
|
|
|
|
Name : |
Ashok Kumar Duggar and Associates Chartered Accountants |
|
Address : |
Marshal House, 33/1, |
|
|
|
|
Subsidiaries : |
·
Jupiter Solar Power Limited - 87.62% (CIN No.:
U52392WB2006PLC111250) ·
Jupiter Infrapower Limited - 81.41% (CIN No.:
U45400WB2008PLC122807) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs.155.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11918158 |
Equity Shares |
Rs.10/- each |
Rs.119.181
millions |
|
|
|
|
|
(Out of above,
360,188 Equity Shares were allotted as fully paid up Bonus shares by way of
capitalisation of General Reserve and 5,997,700 Equity Shares were allotted
without payment being received in cash in terms of Scheme of Arrangement
sanctioned by the High Court at Kolkata)
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 |
119.182 |
112.481 |
112.481 |
|
|
2] Share Application Money |
4.000 |
67.000 |
0.000 |
|
|
3] Reserves & Surplus |
468.592 |
362.470 |
350.663 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
591.774 |
541.951 |
463.144 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
345.092 |
348.581 |
408.646 |
|
|
2] Unsecured Loans |
200.100 |
132.150 |
70.300 |
|
|
TOTAL BORROWING |
545.192 |
480.731 |
478.946 |
|
|
DEFERRED TAX LIABILITIES |
4.288 |
3.975 |
4.436 |
|
|
|
|
|
|
|
|
TOTAL |
1141.254 |
1026.657 |
946.526 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
297.804 |
303.941 |
337.324 |
|
|
Capital work-in-progress |
17.923 |
20.121 |
11.122 |
|
|
|
|
|
|
|
|
INVESTMENT |
324.450 |
324.450 |
160.747 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
249.652
|
274.944
|
311.954
|
|
|
Sundry Debtors |
170.893
|
115.150
|
145.518
|
|
|
Cash & Bank Balances |
99.512
|
94.327
|
63.689
|
|
|
Other Current Assets, Loans & Advances |
281.516
|
124.491
|
99.857
|
|
Total
Current Assets |
801.573
|
608.912
|
621.018
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
247.544
|
186.070
|
175.090 |
|
|
Other Current Liabilities |
52.385
|
45.005 |
9.145 |
|
|
Provisions |
0.659
|
0.017
|
0.008 |
|
Total
Current Liabilities |
300.588
|
231.092
|
184.243
|
|
|
Net Current Assets |
500.985
|
377.820
|
436.775
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.092 |
0.325 |
0.558 |
|
|
|
|
|
|
|
|
TOTAL |
1141.254 |
1026.657 |
946.526 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1891.002 |
1890.212 |
1834.236 |
|
|
|
Other Income |
0.412 |
1.614 |
20.116 |
|
|
|
TOTAL (A) |
1891.414 |
1891.826 |
1854.352 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
1217.694 |
1197.457 |
1146.022 |
|
|
|
Raw Materials Consumed |
200.793 |
225.752 |
209.052 |
|
|
|
Employees Remuneration and Benefits |
91.497 |
91.245 |
74.530 |
|
|
|
Manufacturing, Administrative and Office Expenses |
212.979 |
198.080 |
226.363 |
|
|
|
Loss/ (Profit) on Foreign Exchange Fluctuations |
(17.415) |
31.465 |
(36.233) |
|
|
|
Preliminary Expenses Written Off |
0.233 |
0.233 |
0.233 |
|
|
|
Increase/ Decrease in stock of finished goods and work in progress |
36.456 |
32.868 |
30.020 |
|
|
|
TOTAL (B) |
1742.237 |
1777.100 |
1649.987 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
149.177 |
114.726 |
204.365 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
50.117 |
52.701 |
54.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
99.060 |
62.025 |
150.135 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.491 |
45.188 |
45.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
50.569 |
16.837 |
104.273 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.944 |
2.695 |
10.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.625 |
14.142 |
93.345 |
|
|
|
|
|
|
|
|
|
Add: |
MAT Credit
Entitlement |
4.198 |
2.434 |
-- |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
232.751 |
216.175 |
122.830 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
278.574 |
232.751 |
216.175 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
33.114 |
12.734 |
24.904 |
|
|
TOTAL EARNINGS |
33.114 |
12.734 |
24.904 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
1163.869 |
848.150 |
828.700 |
|
|
|
Raw Materials |
93.954 |
127.758 |
120.746 |
|
|
|
Stores & Spares |
8.506 |
9.185 |
65.436 |
|
|
|
Capital Goods |
1.769 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1268.098 |
985.093 |
1014.882 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
3.51 |
1.26 |
8.58 |
|
|
|
- Diluted |
3.50 |
1.19 |
8.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
2.20
|
0.75
|
5.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.67
|
0.89
|
5.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.60
|
1.84
|
10.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.03
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
1.31
|
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.67
|
2.63
|
3.37 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
The year witnessed a gradual improvement in the market sentiment but the
prices were depressed due to caution displayed by all the members in the value
chain.
Stocking levels were reduced drastically and all major buyers were very
selective in their purchases. In order to cope up with this scenario the
Company adopted the strategy of focusing on Quality Sales. Investments were
made in improving the market shares in more profitable market segments and
product mix, Deliberately the Company reduced its exposure in the lower end of
the markets and reduced the trade in some low contributing products which also
added very minimal strategic value to the product portofolio.
Consequently the sales for the year, Rs.1891.414 millions, were fiat at
the levels of last year but the bottom line reflected a very handsome growth,
the operating profits increased three folds in 2009/10 over the last year. This
was a direct validation of the Quality Strategy adopted by the Company,
Strategically it has also placed the Company in a very strong position and this
will allow the Company to improve profitability next year.
Major marketing and Brand initiatives are being implemented to
aggressively consolidate these gains and place the Company on a growth
trajectory in the high end of the market.
The sales turnover was Rs.1891.414 millions in respect of financial year
ended 31st March, 2010 as against Rs.1891.826 millions in the
previous year.
The PBT for the year stood at Rs.50.569 millions as against Rs.16.837
millions in the previous year. This represents an increase of 300.34%.
Future Outlook
The spurt in the Industrial growth, increase in operating spaces of SME’s
and aggressive adoption of modern management practices and technology, will
continue to fuel the growth of IT Hard ware Industry. It is estimated that the
market in absolute terms will grow by 20% in the next year. However their will
be a shift in the existing fabric of the Industry/Market. Firstly with the drop
in the prices of Laptops, the share of Desktop vs laptop will start to skew
towards the latter. Secondly as the consuming population becomes more affluent,
there will be a shift towards branded personal computers. Assembled local
computer will witness a decline in market share and may even have a negative
growth next year.
Consequently, the Served Market will be under pressure and they will
need to be strategic in the thinking and aggressive in the execution to
maintain the growth trend.
However the Forex uncertainty and head winds may not be experienced,
thereby creating a more predictable business environment.
In the Optical Media Market, the demand for CD-R is converting to DVD-R,
though the over all market is growing aggressively.
This is putting a lot of cost and revenue pressures on small CDR
manufacturers who are only dependent on the Un-Branded CDR market. They expect
some consolidation in CDR manufacturing capacity in the short/medium term and
this will directly benefit Companies who have combined CDR+DVDR manufacturing
facilities and more importantly, own Brand and Distribution net work for
marketing CDR/DVDR nationally.
Overall the sourcing out-look from
The Company is in a very unique position to take advantage of the
consolidation that is taking place in the Industry. They have manufacturing
facilities in Baddi, they have their own acceptable Brand that allows them
access to and serve premium market segments and they have the own Distribution
network in 25 markets. This gives them significant competitive edge which will
allow them to increase the market shares in the segments of choice while the competitors
are under severe pressure of margins and un-healthy competition.
Additionally the company is working on executing plans to set up
manufacturing plant in Baddi for DVDR, Keyboards and Mice. The necessary
approvals have been taken and the building construction is completed. Equipment
and Technology Agreements have been done and they expect to start production by
Q3 2010.
This will allow the Company to Increase its market shares in premium
segments and develop long term competitive advantages.
They expect a healthy growth in sales in 2010/2011 and a more robust
increase in PAT.
Subsidiary
Companies
During the year the name of one of the subsidiaries of the Company viz;
Jupiter SEZ Intraproject Limited has been changed to Jupiter Infrapower Limited
vis a vis the objects has also been changed by dropping its primary object of
developing SEZ to development of renewable energy resources and the Company’s
stake in the aforementioned subsidiary has been maintained at 81.40%.
During the year the stake in another subsidiary of the Company Jupiter
Solar Power Limited has also been maintained at the previous year’s level at
87.62%. The commercial production of Solar Cells in the said subsidiary has
been initiated during the year and the management is of the opinion that the
true financial position of the subsidiary in terms of revenue will take some
while to establish until the operations of the company will go through a cycle
of one full year hence it is premature to discuss the financial results of the
said subsidiary.
As per requirement of section 212 of the Companies Act’ 1956, the
audited accounts of Jupiter Solar Power Limited and Jupiter Infrapower Limited
for the financial year 2009-10 are annexed herewith alongwith the auditors’
report thereon and the Directors’ report thereto, together with a statement of
the Company’s interest in the said subsidiary Companies.
|
Corporate
identity number of the company |
U51109WB1978PLC031668 |
|
Name of the
company |
JUPITER INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
30, E-Mail: info@jil-jupiter.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge Others (Movable
plant and machinery etc.) |
|
Particular of
charge holder |
Allahabad Bank, Industrial Finance Branch, 17, E-Mail: br.ifbkolkata@allahabadbank.in |
|
Nature of
description of the instrument creating or modifying the charge |
(1) Term Loan
Agreements (2) General
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
07/06/2010 |
|
Amount secured by
the charge |
Rs.510.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: @ 1% p.a. below
The Allahabad Bank's PLR which is at present 12.00% p.a. With monthly rests subject to change by the
bank from time to time. Terms of
Repayment: Term loan (i):
Rs.175.000 millions > 24 equal installments of Rs.7.300 millions each with
last installments of Rs.7.100 millions. Term loan (ii):
Rs.20.000 millions > 8 equal installments of Rs.2.500 millions each. Working Capital:
(Rs.315.000 millions): Repayable on demand. Margin: As applicable. Extent and
Operation of the charge: Term loans: Pari
passu 1st charge over fixed assets and pari passu 2nd
charge over current assets of the company in favour of Allahabad Bank, IFB, Kolkata. Working capital:
pari passu 1st charge over current assets and pari passu 2nd
charge over fixed assets of the company in favour of Allahabad Bank, IFB,
Kolkata. Others: The hypothecated
assets shall be insured against loss or damage under bank clause. |
|
Short particulars
of the property charged |
Term loan (i):
Hypothecation of entire plant and machinery, equipments etc. and other
movable fixed assets pertaining to DVDR unit of the company situated at
village: Katha, Tehsil: Nalagarh, District Solan, Himachal Pradesh. Term loan (ii):
Hypothecation of entire plant and machinery, equipments etc. and other
movable fixed assets pertaining to CDR unit of the company situated at
village: Katha, Tehsil:
Nalagarh, District Solan, Himachal Pradesh. 2nd charge over stocks, book debts and other current assets of the company. Working capital: Hypothecation of entire stocks of raw materials, WIP, finished goods like computer peripherals and accessories etc. and other products, goods which now or hereafter from time to time stored or to be stored at the borrower's premises, godowns located at village: Katha, Tehsil: Nalagarh, District Solan, Himachal Pradesh or wherever else. Hypothecation of
all present and future book debts, outstanding moneys, receivable, claims
etc. of the borrower. 2nd
charge over movable fixed assets of the company. |
|
Corporate
identity number of the company |
U51109WB1978PLC031668 |
|
Name of the
company |
JUPITER INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
30, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of Overseas Branch, Samriddhi Bhavan, Block-A, 1, |
|
Nature of
instrument creating charge |
No instrument was
executed. However, mortgage was extended by way of constructive delivery of
title deeds for creation of further charge for overall limit where the
initial charge is created by way of mortgage by deposit of original title
deeds at the office of State Bank of |
|
Date of
instrument Creating the charge |
16.07.2008 |
|
Amount secured by
the charge |
Rs.911.900
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest The Equitable Mortgage has been extended by the Company to secure the
repayment of the overall limit of Rs.911.900 millions granted or to be
granted by the Banks (the charge holders) to the borrower together with
interest, costs and charges thereon. ·
Terms
of repayment The Equitable Mortgage has been extended by the Company to secure the
repayment of the overall limit of Rs.911.900 millions granted or to be
granted by the Banks (the charge holders) to the borrower together with
interest, costs and charges thereon. ·
Margin The Equitable Mortgage has been extended by the Company to secure the
repayment of the overall limit of Rs.911.900 millions granted or to be
granted by the Banks (the charge holders) to the borrower together with
interest, costs and charges thereon. ·
Extent
and operation of the charge The charge operates as Pari Passu first charge basis amongst the TL
and WC Bankers without any preference or priority of one over the other or
others on the whole of the mortgaged properties to secure the maximum amount
under the said charge fixed at Rs.911.900 millions (SBI-FBWC-Rs.235.000
millions, TL-Rs.126.900 millions and NFBWC – Rs.260.000 millions, OBC-FBWC –
Rs.50.000 millions, TL – Rs.50.000 millions and NFBWC – Rs.60.000 millions
and UBI-FBWC – Rs.50.000 millions and NFBWC – Rs.80.000 millions) together
with interest, costs and charges thereon. ·
Others The Borrowers shall not do or allow anything which may prejudice the
security and shall comply with the terms and conditions of the
Agreements. |
|
Particulars of
the property charged |
All that the
Eastern Flat and Western Flat being the entirely of the Ground Floor
measuring 3044 Sq. ft. with the Mezzanine Floor entire 1st Floor
with 50% share of the land and common areas of the building on a piece and
parcel of land measuring 12 Cottahs 10 Chittaks 16 sq. ft. being Premises No.
20A, A C Avenue in the District of south 24 Parganas in the State of WB and
land measuring 2 Bighas 2 Biswa and 3 Bighas 1 Biswa in the State of HP |
Contingent
Liabilities:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
(a) Counter
Guarantees given in favour of the Company's Bankers for guarantees given by them |
44.447 |
|
(b) Letters of Credit opened |
304.959 |
|
(c) Bond
executed in favour of President of India for import of capital goods under
EPCG scheme at concessional rate of duty for manufacture of excisable goods. |
60.000 |
|
(d) Bond
executed in favour of President of India for import of Raw materials at
concessional rate of duty for manufacture of excisable goods. |
30.000 |
|
(e) Corporate
Guarantee given on behalf of the Subsidiary Company (against the guarantee, loan
amounts of Rs.649.834 millions, have been availed by the subsidiary company. |
1402.500 |
|
(f) Claims against the Company not acknowledged as debts |
|
|
(i) Sales tax liability against which the Company has preferred
appeals |
24.415 |
|
(ii) Custom Duty Demand against which the Company has preferred appeal |
5.102 |
|
(g) Estimated amount of contracts to be executed on Capital Account
and not provided for |
170.112 |
FIXED ASSETS
·
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Computers
·
Computer Software
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.74.30 |
|
Euro |
1 |
Rs.64.40 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.