MIRA
INFORM REPORT
|
Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
JAIN TIMBER CO PRIVATE LIMITED |
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Registered
Office : |
74/1/2, Rajdhani Park, Rohtak Road, Nangloi, New Delhi-110011, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.04.1991 |
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Com. Reg. No.: |
55-044061 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.930 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1991PTC044061 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ04939E |
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PAN No.: [Permanent Account No.] |
AAACJ0402E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Pine and Pine Wood |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 6000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 PARTED BY
|
Name : |
Mr. Arpit Jain |
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Designation : |
Chief Executive Officer |
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Date : |
26.08.2011 |
LOCATIONS
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Registered Office / Factory : |
74/1/2, Rajdhani Park, Rohtak Road, Nangloi, New Delhi-110011, Delhi,
India |
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Tel. No.: |
91-11-25476181 |
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Mobile No.: |
91-9711267206 (Mr. Arpit Jain) |
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Fax No.: |
91-11-25189053 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 28.08.2010
|
Name : |
Mr. Pradeep Kumar Jain |
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Designation : |
Director |
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Address : |
208, 1st Floor, Rajdhani Enclave, Delhi-110034, India |
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Date of Appointment : |
30.09.2008 |
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DIN No : |
01481677 |
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Name : |
Ms. Poonam Jain |
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Designation : |
Director |
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Address : |
Shankar Ganj, Hapur, Ghaziabad, Uttar Pradesh, India |
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Date of Appointment : |
30.09.2008 |
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DIN No : |
01135339 |
KEY EXECUTIVES
|
Name : |
Mr. Arpit Jain |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.08.2010
|
Names of Shareholders |
No. of Shares |
|
Pradeep Kumar Jain |
36509 |
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Poonam Jain |
22860 |
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Arpit Jain |
10000 |
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Ankit Jain |
23600 |
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Neha Jain |
1 |
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Total |
92970 |
AS ON 28.08.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Pine and Pine Wood |
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Exports : |
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Products : |
·
Pine ·
Pine Wood |
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Countries : |
·
Gulf Countries |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
New Zealand ·
Malaysia |
GENERAL INFORMATION
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No. of Employees : |
15 (Approximately) |
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Bankers : |
·
Corporation Bank, Nangloi Jat, Najafgarh Road,
New Delhi-110041, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jain Anil and Company Chartered Accountant |
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Address : |
M-9, Akarshan Bhawan, 4754-57, Ansari Road, 23, Daryaganj, New Delhi-110002,
Delhi, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
92970 |
Equity Shares |
Rs.10/- each |
Rs. 0.930
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 |
0.930 |
0.930 |
0.930 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.570 |
0.233 |
0.166 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.500 |
1.163 |
1.096 |
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LOAN FUNDS |
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1] Secured Loans |
8.845 |
7.058 |
5.706 |
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2] Unsecured Loans |
8.886 |
9.828 |
6.129 |
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TOTAL BORROWING |
17.731 |
16.886 |
11.835 |
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DEFERRED TAX LIABILITIES |
0.026 |
0.000 |
0.000 |
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TOTAL |
19.257 |
18.049 |
12.931 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.175 |
1.062 |
1.021 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
33.001
|
14.836 |
8.050 |
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Sundry Debtors |
18.943
|
35.371 |
16.635 |
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Cash & Bank Balances |
0.584
|
0.114 |
0.226 |
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Other Current Assets |
0.221
|
0.221 |
0.098 |
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Loans & Advances |
2.730
|
2.515 |
2.005 |
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Total
Current Assets |
55.479
|
53.057 |
27.014 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
29.675
|
24.215 |
8.006 |
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Other Current Liabilities |
7.599
|
11.707 |
6.577 |
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Provisions |
0.123
|
0.148 |
0.521 |
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Total
Current Liabilities |
37.397
|
36.070 |
15.104 |
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Net Current Assets |
18.082
|
16.987 |
11.910 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.257 |
18.049 |
12.931 |
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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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TURNOVER |
96.755 |
78.803 |
NA |
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NET PROFIT |
0.521 |
0.412 |
0.177 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
100.000 |
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The above information has been parted by Mr. Arpit Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.54
|
0.52 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
|
0.76 |
0.63 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.35 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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36.77
|
45.53 |
24.58 |
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Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.47 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS AND BUSINESS PROSPECTS:
During the year
ended on 31st March 2010 the company has earned before tax Net Profit of Rs.
0.521 million (Previous year Profit of Rs. 0.412 million). During F.Y 2009-10 the
turnover of the company has increased to Rs.96.755 millions from turnover of
Rs.78.803 millions achieved during the F.Y.2008-09. The management of the
company has decided to import directly to increase its margin and profitability
and also optimistic to increase the turnover of the company.
FORM 8
|
Corporate
identity number of the company |
U74899DL1991PTC044061 |
|
Name of the
company |
JAIN TIMBER CO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
74/1/2, Rajdhani Park, Rohtak Road, Nangloi, New Delhi-110011, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
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Particular of
charge holder |
Corporation Bank, Nangloi Jat, Najafgarh Road, New Delhi-110041,
Delhi, India |
|
Nature of
instrument creating charge |
Common Deed of
Hypothecation of Movables /Assets /Debts. |
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Date of
instrument Creating the charge |
20.01.2011 |
|
Amount secured by
the charge |
Rs. 34.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest BASE RATE+2.25%
presently10.50% p.a. Subject to revised from time to time. Terms of repayment CC: Running
account repayable on demand subject to annual renewal. Margin Stock : 25% Book-Debts :
25% Cash Margin :
25% by way of our Bank Deposits. Extent and operation of the charge Cash Credit : Rs.
9.000 Millions ILC Cum Buyer
Credit : Rs. 25.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stock consisting of timber logs of various Types and size, Stored at
74/1/2,Rajdhani Park Rohtak Road, Nangloi, Delhi or its factory at
Gandhidham, Gujarat or any other place. |
|
Charge
identification number of the charge to be modified |
10147762 |
|
Date of
instrument modifying the charge |
25.02.2009 |
|
Particulars of
the present modification |
The Limit Stands
Enhanced From Rs.16.500 millions To Rs.34.000 millions. |
FIXED ASSETS
·
Office Equipment
·
Machinery
·
Computer and Printer
·
Saw Mill
·
Generator
·
Working Shed
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. 45.89 |
|
|
1 |
Rs. 74.31 |
|
Euro |
1 |
Rs. 65.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.