MIRA
INFORM REPORT
|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAINSON WOOLCOMBERS PRIVATE LIMITED |
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Registered
Office : |
266, Industrial Area A, Ludhiana - 141003,
Punjab |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.03.1996 |
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Com. Reg. No.: |
16-017854 |
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Capital
Investment / Paid-up Capital : |
Rs.5.080 Millions |
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|
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CIN No.: [Company Identification
No.] |
U17117PB1996PTC017854 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDJ00485C |
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PAN No.: [Permanent Account No.] |
AAACJ4154F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Wool, Wool Tops and Woollen Textiles. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 50000 |
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|
Status : |
Moderate |
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|
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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 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
266, Industrial Area A, Ludhiana - 141003,
Punjab, India |
|
Tel. No.: |
91-161-2221487 |
|
Fax No.: |
91-161-5097276 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Director |
|
Address : |
51, Aggar Nagar,
South End, |
|
Date of Appointment : |
15.05.2004 |
|
DIN No.: |
01504738 |
|
|
|
|
Name : |
Mrs. Monika Jain |
|
Designation : |
Director |
|
Address : |
51, Aggar Nagar,
South End, |
|
Date of Birth/ Age : |
25.09.1974 |
|
Date of Appointment : |
01.07.2011 |
|
DIN No.: |
03607223 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Amit Jain |
|
300 |
|
Vinod Jain |
|
26700 |
|
Neena Jain |
|
74300 |
|
Arun Jain |
|
400 |
|
Rajesh Jain |
|
400 |
|
Sunita Jain |
|
300 |
|
Alka Jain |
|
600 |
|
I.P. Jain HUF |
|
300 |
|
Lado Rani Jain |
|
76500 |
|
Subash Jain HUF |
|
500 |
|
MadhurJain |
|
67300 |
|
Vinod Jain HUF |
|
500 |
|
Satpal Jain |
|
300 |
|
Satpal Jain HUF |
|
68700 |
|
Santosh Rani Jain |
|
200 |
|
Anuj Jain |
|
30000 |
|
Vivek Jain |
|
500 |
|
Monika Jain |
|
500 |
|
Vineet Jain |
|
700 |
|
Arun Jain HUF |
|
8200 |
|
M.P. Gupta |
|
5400 |
|
Usha Gupta |
|
28500 |
|
Amit Aggarwal |
|
36100 |
|
Dharam Pal Aggarwal |
|
23500 |
|
Dharam Pal Aggarwal HUF |
|
14500 |
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Aditya Jain U/G Amit Jain |
|
42800 |
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Total |
|
508000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Wool, Wool Tops and Woollen Textiles. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India ·
HDFC Bank Limited, HDFC Bank Houses, Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India ·
Axis Bank Limited, 5-A, 2nd Floor, Surya Tower, 108, The Mall, Ludhiana
– 141001, Punjab, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R K Chadha and Company Chartered Accountant |
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Address : |
Gain Market, Miller Ganj, |
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PAN.: |
ACOPC7378R |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
508000 |
Equity Shares |
Rs.10/- each |
Rs.5.080 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.080 |
5.080 |
5.080 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.576 |
8.324 |
7.874 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
13.656 |
13.404 |
12.954 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
6.945 |
4.391 |
1.594 |
|
|
2] Unsecured Loans |
12.775 |
12.240 |
16.543 |
|
|
TOTAL BORROWING |
19.720 |
16.631 |
18.137 |
|
|
DEFERRED TAX LIABILITIES |
0.757 |
0.768 |
0.648 |
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|
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|
|
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TOTAL |
34.133 |
30.803 |
31.739 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
29.108 |
26.858 |
19.899 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.212 |
6.501 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.168
|
10.865
|
6.454 |
|
|
Sundry Debtors |
13.606
|
30.890
|
17.035 |
|
|
Cash & Bank Balances |
1.038
|
0.343
|
0.740 |
|
|
Other Current Assets |
0.000
|
0.000
|
2.635 |
|
|
Loans & Advances |
2.289
|
2.804
|
0.042 |
|
Total
Current Assets |
19.101
|
44.902
|
26.906 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
12.371
|
38.822
|
20.419 |
|
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Other Current Liabilities |
1.705
|
2.347
|
1.179 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
14.076
|
41.169
|
21.598 |
|
|
Net Current Assets |
5.025
|
3.733
|
5.308 |
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.031 |
|
|
|
|
|
|
|
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TOTAL |
34.133 |
30.803 |
31.739 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
95.291 |
84.700 |
73.893 |
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PROFIT BEFORE
TAX |
0.364 |
0.570 |
0.240 |
|
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Less |
TAX |
0.113 |
0.120 |
0.570 |
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|
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|
Add |
OTHER ADJUSTMENT
|
0.000 |
2.474 |
2.291 |
|
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PROFIT AFTER TAX
|
0.250 |
2.924 |
2.474 |
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|
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|
|
Earnings Per
Share (Rs.) |
4.95 |
8.86 |
4.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.26
|
3.45
|
3.35 |
|
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.76
|
0.79
|
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04
|
0.02 |
|
|
|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.47
|
4.31
|
3.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.09
|
1.25 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
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8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
OPERATIONS
During the year total income of the Company is Rs.95.291 Millions and
the Company has earned a profit of Rs.0.113 Million this year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17117PB1996PTC017854 |
|
Name of the
company |
JAINSON
WOOLCOMBERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
266, Industrial
Area A, Ludhiana, Punjab, India Email : jainson@siffy.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10269205 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Houses, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra,
India Email : RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
Supplementary
Letter of Hypothecation |
|
Date of
instrument Creating the charge |
18.11.2011 |
|
Amount secured by
the charge |
Rs.23.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time Terms of
Repayment Working Capital
shall be repayable on demand Term Loan shall
be repayable in suitable installments Margin As may be
stipulated by the Bank from time to time Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stocks, Book Debts, Plant and Machinery,
Vehicles etc., to secure as a continuing security for the repayment of
Rs.23.500 Millions, together with interest, costs, charges, expenses and
other moneys due and payable by the Company to the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock in Trade, consisting
of raw materials, goods in process of manufacturing finished goods, and other
merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies
receivables, claims, bills, invoice
documents, contracts, guarantees, and rights The movable plant
and machinery and vehicles, which may now or at any time hereafter belong to
the Borrower or come to the Borrower's disposal any |
|
Date of
instrument modifying the charge |
07.10.2011 |
|
Particulars of the
present modification |
The charge shall
now stand revised from Rs.18.500 Millions to Rs.23.500 Millions against the
security of Stocks, Book Debts, Plant and Machinery, Vehicles, etc. of the
Company. |
FIXED ASSETS:
- Building
- Land
- Furniture and Fixture
- Air Conditioner
- Car
- Electric Fittings
- Plant and Machinery
- Computer
- Tempo / Bus
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.51.63 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
NP |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.