BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
JD ELECTRONICS AND APPLIANCES PRIVATE LIMITED |
Principal Name 1 |
Mr. Bharat Jain |
|
Status |
Moderate |
Principal Name 2 |
Mr. Narain Bajaj |
|
|
|
Registration # |
11-155848 |
|
Street Address |
12/2-1 to 6, Sagar Complex, Nashik Highway, Ovali Village, Opposite HP
Petrol Pump, Tal Bhiwandi 421302, Maharashtra |
||
|
Established Date |
02.09.2005 |
SIC Code |
-- |
|
Telephone# |
91-251-320226 |
Business Style 1 |
Distributor of Electronic Products. |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
36 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs.5,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors – 64.00 |
Banking |
The Kalyan Janata Sahakari Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
6 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
31,614,000 |
Current Liabilities |
7,200,000 |
|
Inventories |
24,067,000 |
Long-term Liabilities |
41,241,000 |
|
Fixed Assets |
1,296,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
48,441,000 |
|
Invest& other Assets |
514,000 |
Retained Earnings |
4,050,000 |
|
|
0 |
Net Worth |
9,050,000 |
|
Total Assets |
57,491,000 |
Total Liab. & Equity |
57,491,000 |
|
Total Assets (Previous Year) |
57,255,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
262,073,000 |
Net Profit |
1,410,000 |
|
Sales(Previous yr) |
252,938,000 |
Net Profit(Prev.yr) |
1,520,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
JD ELECTRONICS AND APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12/2-1 to 6, Sagar Complex, Nashik Highway, Ovali Village, Opposite HP
Petrol Pump, Tal Bhiwandi 421302, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
02.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-155848 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH2005PTC155848 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ05722D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Electronic Products. |
|
|
|
|
No. of Employees
: |
36 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 36200 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The management
has not filed the latest financial of the company with the government
departments. However, trade relations are reported as fair. Business is
active. Payments are unknown. The company can be considered for business dealings with some 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Vipul |
|
Designation : |
Manager |
|
Contact No.: |
91-9322274100 |
|
Date : |
12.10.2011 |
LOCATIONS
|
Registered Office : |
12/2-1 to 6, Sagar Complex, Nashik Highway, Ovali Village, Opposite HP
Petrol Pump, Tal Bhiwandi 421302, Maharashtra, India |
|
Tel. No.: |
91-251-320226 |
|
Mobile No.: |
91-9322274100 (Mr. Vipul) |
|
E-Mail : |
|
|
Location: |
Owned |
DIRECTORS
AS ON 21.09.2009
|
Name : |
Mr. Bharat Jain |
|
Designation : |
Director |
|
Address : |
403, Gautam Labdhi, V S Road, Thane (West) – 400 601, |
|
Date of Birth/Age: |
12.10.1964 |
|
Date of Appointment : |
02.09.2005 |
|
|
|
|
Name : |
Mr. Narain Bajaj |
|
Designation : |
Director |
|
Address : |
C-1/1, Laxmi Sadan, Ulhash Nagar, Thane – 421 003, |
|
Date of Birth/Age: |
18.03.1942 |
|
Date of Appointment : |
02.09.2005 |
|
|
|
|
Name : |
Mr. Sheeranj Vayleri |
|
Designation : |
Director |
|
Address : |
201, Abhishek, Ambika Nagar, M |
|
Date of Appointment : |
02.09.2005 |
|
|
|
|
Name : |
Mr. Prakash Jain |
|
Designation : |
Director |
|
Address : |
C-103, Gopal Krishna Aparments, |
|
Date of Birth/Age: |
24.08.1972 |
|
Date of Appointment : |
02.09.2005 |
|
|
|
|
Name : |
Mr. Ram Tanwani |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
02.09.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2009
|
Names of Shareholders |
No. of Shares |
|
Bharat Jain |
10000 |
|
Narain Bajaj |
10000 |
|
Sheeranj Vayleri |
100000 |
|
Prakash Jain |
50000 |
|
Ram Tanwani |
100000 |
|
O K Televisions Private Limited, Thane, Maharashtra, India |
90000 |
|
Ajay Jain |
50000 |
|
Usha Electro Trade Agencies Private Limited, Thane, Maharashtra,
India |
90000 |
|
TOTAL |
500000 |
AS ON 21.09.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
36.00 |
|
Directors or relatives of directors |
|
64.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Electronic Products. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Samsung ·
Videocon |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
·
Mahalaxmi Electronic ·
Ambika Distributors ·
Wholesalers ·
Dealers |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
36 Approximately |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
The Kalyan Janata Sahakari Bank Limited, ‘Niharika’, Opp. Railway Station, Kalyan
(West), Mumbai – 421 301, |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Girish J Rathi Chartered Accountant |
|
Address : |
303, Bhiwandiwala Terrace, Tembi Naka, Thane, Mumbai – 400060, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100 each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100 each |
Rs.5.000
millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.050 |
2.640 |
1.119 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.050 |
7.640 |
6.119 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.983 |
1.763 |
2.484 |
|
|
2] Unsecured Loans |
23.258 |
31.611 |
21.064 |
|
|
TOTAL BORROWING |
41.241 |
33.374 |
23.548 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
50.291 |
41.014 |
29.667 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.296 |
1.296 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.462 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.067
|
21.615 |
12.429 |
|
|
Sundry Debtors |
23.706
|
27.112 |
21.916 |
|
|
Cash & Bank Balances |
0.809
|
1.589 |
1.974 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.099
|
5.570 |
2.530 |
|
Total
Current Assets |
55.681
|
55.886 |
38.849 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.465
|
14.179 |
8.269 |
|
|
Other Current Liabilities |
0.259
|
0.603 |
0.304 |
|
|
Provisions |
1.476
|
1.459 |
0.703 |
|
Total
Current Liabilities |
7.200
|
16.241 |
9.276 |
|
|
Net Current Assets |
48.481
|
39.645 |
29.573 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.052 |
0.073 |
0.094 |
|
|
|
|
|
|
|
|
TOTAL |
50.291 |
41.014 |
29.667 |
|
PROFIT & LOSS
ACCOUNT
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
500.000 |
370.000 |
Expected Sales (2011-2012) : Rs.650.000 millions
The above information has been parted by Mr. Vipul
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
262.073 |
252.938 |
164.904 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
259.887 |
250.661 |
163.256 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
259.887 |
250.661 |
163.256 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.186 |
2.277 |
1.648 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.186 |
2.277 |
1.648 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.186 |
2.277 |
1.648 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.776 |
0.757 |
0.635 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.410 |
1.520 |
1.013 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.20 |
30.40 |
20.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.53
|
0.60 |
0.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83
|
3.98 |
4.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.29 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.35
|
6.49 |
5.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.73
|
3.44 |
4.18 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10143693 |
|
Corporate
identity number of the company |
U32109MH2005PTC155848 |
|
Name of the
company |
JD ELECTRONICS
AND APPLIANCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12/2-1 to 6, Sagar Complex, Nashik Highway, Ovali Village, Opposite HP
Petrol Pump, Tal Bhiwandi, Maharashtra |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
The Kalyan Janata Sahakari Bank Limited, ‘Niharika’, Opp. Railway Station, Kalyan
(West), Mumbai – 421 301, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement Of
Hypothecation Of Plant & Machinery, Stocks And Book Debts Dated
18-11-2009 |
|
Date of instrument
Creating the charge |
18.11.2009 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% PER ANNUM Terms of
Repayment An Additional
Cash Credit Limit Of Rs.10.000 Millions (Making A Total Cash Credit Limit Of
Rs.30.000 Millions) Repayable On Demand Margin Stock In Trade -
30% Book Debts - 40% Extent and
Operation of the charge An Additional Cash
Credit Limit Of Rs.10.000 Millions (Making A Total Cash Credit Limit Of
Rs.30.000 Millions) Is Secured Against Primary Security Of Hypothecation Of
All The Present As Well As Future Stock-In-Trade Of The Company, Lying At The
Factory Premises Of The Company Or Elsewhere And All The Present As Well As
Future Book Debts Of The Company |
|
Short particulars
of the property charged |
·
All
The Present As Well As Future Stock-In-Trade Of The Company Situated At The
Factory Premises Of The Company Or Elsewhere ·
All
The Present As Well As Future Book Debts Of The Company |
|
Date of latest
modification prior to the present modification |
04.01.2009 |
|
Particulars of
the present modification |
An Additional Cash
Credit Limit Of Rs.10.000 Millions (Making A Total Cash Credit Limit Of
Rs.30.000 Millions) Is Secured Against Primary Security Of Hypothecation Of
All The Present As Well As Future Stock-In-Trade Of The Company Situated At
The Factory Premises Of The Company Or Else we here And All The Present As
Well As Future Book Debts Of The Company |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
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.44.54 |
|
|
1 |
Rs.70.92 |
|
Euro |
1 |
Rs.61.81 |
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 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
26 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.