Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
JALARAM POLYMERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Pratik Devichand Jain |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ashok Jain |
|
|
|
Registration # |
11-078080 |
|
Street Address |
11/88, Navjyot Co-operative Society, M G Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
||
|
Established Date |
29.04.1994 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Household Appliances |
|
|
# of employees |
-- |
Product Name 2 |
Kitchen Appliances |
|
Paid up capital |
Rs.
6,490,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors and Relatives of Directors – 100% |
Banking |
Bombay
Mercantile Co-operative Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
67 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
74,759,000 |
Current Liabilities |
33,732,000 |
|
Inventories |
3,898,000 |
Long-term Liabilities |
15,562,000 |
|
Fixed Assets |
11,175,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
49,294,000 |
|
Invest& other Assets |
85,000 |
Retained Earnings |
34,133,000 |
|
|
|
Net Worth |
40,623,000 |
|
Total Assets |
89,917,000 |
Total Liab. & Equity |
89,917,000 |
|
Total Assets (Previous Year) |
83,829,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
215,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
544,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
JALARAM POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
11/88, Navjyot Co-operative Society, M G Road, Goregaon (West),
Mumbai-400062, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
29.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-078080 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.490 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134MH1994PTC078080 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ11238D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ2840A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Household Appliances and Kitchen Appliances. |
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 160000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management has not filed the latest financials of the company with the government
departments. 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 |
LOCATIONS
|
Registered Office : |
11/88, Navjyot Co-operative Society, M G Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
10 Deven Industrial Estate, I.B Patel, Road, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
Tel. No.: |
91-22-26852980 / 26852981 |
|
|
|
|
Factory 1 : |
Sharma Industrial Estate, Goregaon (East), Mumbai-400063, Maharashtra,
India |
|
|
|
|
Factory 2 : |
·
Daman |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Ashok Jain |
|
Designation : |
Director |
|
Address : |
11/88, Navjyot Co-operative Society, M G Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
|
Date of Appointment : |
29.04.1994 |
|
DIN No.: |
00598007 |
|
|
|
|
Name : |
Mr. Pratik Devichand Jain |
|
Designation : |
Director |
|
Address : |
35/304, Unnat Nagar No.2, Off S. V. Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
|
Date of Appointment : |
29.04.1994 |
|
DIN No.: |
02494049 |
|
|
|
|
Name : |
Mr. Sampatraj Devichand Jain |
|
Designation : |
Director |
|
Address : |
35/299, Unnat Nagar No.2, Off S. V. Road, Goregaon (West),
Mumbai-400062, Maharashtra, India |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
02494990 |
|
|
|
|
Name : |
Mr. Satish Devichand Shah |
|
Designation : |
Director |
|
Address : |
11/90, Unnat Nagar, Navjyot Co-operative Society, M G Road, Goregaon
(West), Mumbai-400062, Maharashtra, India |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
02492816 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
|
Names of Shareholders |
No. of Shares |
|
Ashok Jain |
16770 |
|
Ashok Jain (HUF) |
14000 |
|
Pratik Devichand Jain |
5000 |
|
Sampatraj Devichand Jain |
3900 |
|
Satish Devichand Shah |
13350 |
|
Ancheeta Devi |
1980 |
|
Alliance International and Network Private Limited, India |
3400 |
|
Alpha Chemie Trade Agencies Private Limited, India |
500 |
|
Buniyad Chemical Limited, India |
1200 |
|
Mihir Agencies Private Limited, India |
1600 |
|
Alembic Securities Private Limited, India |
1500 |
|
Telent Infoway Limited, India |
1700 |
|
Total |
64900 |
AS ON 30.09.2009
|
Category |
Percentage |
|
Directors or relatives of Directors |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Household Appliances and Kitchen Appliances. |
GENERAL INFORMATION
|
Bankers : |
·
Bombay Mercantile Co-operative Bank Limited, S.
V. Road, Malad (West), Mumbai-400064, Maharashtra, India. ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok K Lohiya and Associates Chartered Accountant |
|
Address : |
3/3, Sonal Apartment, Sonawala Cross Road No. 1, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
·
Jalaram Appliances ·
Durable Home Appliances ·
Mass International ·
Jalaram Appliances Polymers ·
Nikita Developers |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64900 |
Equity Shares |
Rs.100/-
each |
Rs.6.490
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 |
6.490 |
5.500 |
5.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.133 |
25.628 |
25.084 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
40.623 |
31.128 |
30.584 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.926 |
4.625 |
5.674 |
|
|
2] Unsecured Loans |
8.636 |
14.695 |
7.985 |
|
|
TOTAL BORROWING |
15.562 |
19.320 |
13.659 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
56.185 |
50.448 |
44.243 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.175 |
10.480 |
9.726 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.085 |
0.085 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.898
|
10.351 |
15.612 |
|
|
Sundry Debtors |
16.215
|
16.188 |
14.669 |
|
|
Cash & Bank Balances |
1.352
|
0.368 |
12.594 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
57.192
|
46.357 |
32.199 |
|
Total
Current Assets |
78.657
|
73.264 |
75.074 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.732
|
33.381 |
40.557 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
33.732
|
33.381 |
40.557 |
|
|
Net Current Assets |
44.925
|
39.883 |
34.517 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
56.185 |
50.448 |
44.243 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
5.701 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
66.420 |
58.233 |
5.701 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Financial Expenses |
66.205 |
57.689 |
4.530 |
|
|
|
Depreciation |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
66.205 |
57.689 |
4.530 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.215 |
0.544 |
1.171 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.215 |
0.544 |
1.171 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
(0.857) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.215 |
0.544 |
0.314 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
3.283 |
5.583 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.32
|
0.93 |
20.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.24
|
0.65 |
1.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.21
|
1.69 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33
|
2.19 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U24134MH1994PTC078080 |
|
Name of the
company |
JALARAM POLYMERS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
11/88, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bombay Mercantile Co-operative Bank Limited, S. V. Road, Malad (West), Mumbai-400064, Maharashtra, India. |
|
Nature of
instrument creating charge |
Deed of Further
Charge. |
|
Date of
instrument Creating the charge |
02.05.2008 |
|
Amount secured by
the charge |
RS. 9.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest rate, as
agreed between the borrower company and the bank from time to time. Penal interest
rate, as agreed between the borrower company and the bank from time to time. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, As
Agreed Between The Borrower Company And The Bank From Time To Time Extent and operation of the charge At the request of
the borrower company, the bank has sanctioned cash credit limit of Rs. 1.000
million (the overall banking limits enhanced from Rs. 8.500 millions to Rs.
9.500 millions), against mortgage of factory building along with land ,
namely “Golden Industrial Estate”, situated on Plot No. 15A, in Golden
Industrial Estate at Survey No. 690 / 5, admn 1023 sq. Mts., Somnath Road,
Dabhel The total charge
stands modified from Rs. 8.500 millions to Rs. 9.500 millions |
|
Short particulars
of the property charged (Including location of the property) |
At the request of
the borrower company, the bank has sanctioned cash credit limit of Rs. 1.000
million (the overall banking limits enhanced from Rs. 8.500 millions to Rs.
9.500 millions), against mortgage of factory building along with land ,
namely “Golden Industrial Estate”, situated on Plot No. 15A, in Golden
Industrial Estate at Survey No. 690 / 5, admn 1023 sq. Mts., Somnath Road,
Dabhel The total charge
stands modified from Rs. 8.500 millions to Rs. 9.500 millions |
|
Charge
identification number of the charge to be modified |
80046448 |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has sanctioned cash credit limit of Rs. 1.000
million (the overall banking limits enhanced from Rs. 8.500 millions to Rs.
9.500 millions), against mortgage of factory building along with land ,
namely “Golden Industrial Estate”, situated on Plot No. 15A, in Golden
Industrial Estate at Survey No. 690 / 5, admn 1023 sq. Mts., Somnath Road,
Dabhel The total charge
stands modified from Rs. 8.500 millions to Rs. 9.500 millions |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Dies and Moulds
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
·
Xerox Machine
·
Air Conditioner
·
Computer
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. 48.92 |
|
|
1 |
Rs. 76.52 |
|
Euro |
1 |
Rs. 66.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.