Business
information report
1. Summary Information
|
Country |
India |
||
|
Company Name |
JASMINE APPARELS PRIVATE LIMITED |
Principal Name 1 |
Mr. Vidyadhar Vishnu Hegde |
|
Status |
Satisfactory |
Principal Name 2 |
Ms. Jaya Vidyadhar Hegde |
|
Registration # |
08-022140 |
||
|
Street Address |
No. 3 and 4, 1st Main, Dasarahalli Extension, Hebbal
Agricultural Farm Post, Bangalore-560024, Karnataka |
||
|
Established Date |
22.04.1997 |
SIC Code |
-- |
|
Telephone# |
91-80-22715124 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-23621076 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Caps |
|
|
# of employees |
Not Available |
Product Name 2 |
T-Shirts |
|
Paid up capital |
Rs.
800,000/- |
Product Name 3 |
Bags |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
15 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
12,682,000 |
Current Liabilities |
3,416,000 |
|
Inventories |
6,230,000 |
Long-term Liabilities |
3,759,000 |
|
Fixed Assets |
4,107,000 |
Other Liabilities |
1,877,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
9,052,000 |
|
Invest& other Assets |
2,000 |
Retained Earnings |
13,169,000 |
|
|
|
Net Worth |
13,969,000 |
|
Total Assets |
23,021,000 |
Total Liab. & Equity |
23,021,000 |
|
Total Assets (Previous Year) |
16,361,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
47,509,000 |
Net Profit |
3,848,000 |
|
Sales(Previous yr) |
34,840,000 |
Net Profit(Prev.yr) |
3,021,000 |
MIRA INFORM REPORT
|
Report Date : |
22.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
JASMINE APPARELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 3 and 4, 1st Main, Dasarahalli Extension, Hebbal
Agricultural Farm Post, Bangalore-560024, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.04.1997 |
|
|
|
|
Com. Reg. No.: |
08-022140 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA1997PTC022140 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRJ01629F BLRJ00459E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4959N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of corporate merchandises such as Caps, T-Shirts, Jackets
etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 55000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. Reserves
of the company appear good. It has achieved a better increase in its sales and profits during
2011. It is performing well. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
No. 3 and 4, 1st Main, Dasarahalli Extension, Hebbal
Agricultural Farm Post, Bangalore-560024, Karnataka, India |
|
Tel. No.: |
91-80-22715124 / 32533496 |
|
Fax No.: |
91-80-23621076 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 24.08.2011
|
Name : |
Mr. Vidyadhar Vishnu Hegde |
|
Designation : |
Managing Director |
|
Address : |
No.20, 11th Cross Bhuvaneshwari Nagar, Dasarahalli Main
Road, H A Farm Post, Bangalore-560024, Karnataka, India |
|
Date of Birth/Age : |
22.05.1965 |
|
Date of Appointment : |
22.04.1997 |
|
DIN No.: |
02816009 |
|
|
|
|
Name : |
Ms. Jaya Vidyadhar Hegde |
|
Designation : |
Director |
|
Address : |
No.20, 11th Cross Bhuvaneshwari Nagar, Dasarahalli Main
Road, H A Farm Post, Bangalore-560024, Karnataka, India |
|
Date of Birth/Age : |
21.07.1966 |
|
Date of Appointment : |
22.04.1997 |
|
DIN No.: |
02816037 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.08.2011
|
Names of Shareholders |
No. of Shares |
|
Vidyadhar Vishnu Hegde |
4000 |
|
Jaya Vidyadhar Hegde |
4000 |
|
TOTAL
|
8000 |
AS ON 24.08.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of corporate merchandises such as Caps, T-Shirts, Jackets
etc. |
|
|
|
|
Products : |
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|
|
|
|
Brand Names : |
“Feathers” |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Manjunath R Hegde Chartered Accountant |
|
Address : |
No.56/3, 1st Temple Road, 13th Cross,
Malleshwaram, Bangalore-560003, Karnataka, India |
|
Tel. No.: |
91-80-23360530 |
|
Fax No.: |
91-80-23627272 |
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E-Mail : |
|
|
PAN No.: |
AABPH7197N |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000 |
Equity Shares |
Rs.100/-
each |
Rs. 0.800
Million |
|
|
|
|
|
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 |
0.800 |
0.800 |
0.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.169 |
9.322 |
6.301 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.969 |
10.122 |
7.101 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.759 |
0.138 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.924 |
2.528 |
|
|
TOTAL BORROWING |
3.759 |
1.062 |
2.528 |
|
|
DEFERRED TAX LIABILITIES |
0.116 |
0.143 |
0.160 |
|
|
|
|
|
|
|
|
TOTAL |
17.844 |
11.327 |
9.789 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
4.107 |
3.168 |
3.228 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.002 |
0.001 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.230
|
3.218 |
1.879 |
|
|
Sundry Debtors |
8.709
|
6.726 |
4.434 |
|
|
Cash & Bank Balances |
0.045
|
0.051 |
0.990 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.928
|
3.197 |
2.727 |
|
Total
Current Assets |
18.912
|
13.192 |
10.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.328
|
2.826 |
2.138 |
|
|
Other Current Liabilities |
1.088
|
0.839 |
0.431 |
|
|
Provisions |
1.761
|
1.369 |
0.902 |
|
Total
Current Liabilities |
5.177
|
5.034 |
3.471 |
|
|
Net Current Assets |
13.735
|
8.158 |
6.559 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
17.844 |
11.327 |
9.789 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
47.509 |
34.840 |
30.510 |
|
|
|
Other Income |
0.241 |
0.299 |
0.120 |
|
|
|
TOTAL |
47.750 |
35.139 |
30.630 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
42.169 |
30.765 |
28.134 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
42.169 |
30.765 |
28.134 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.581 |
4.374 |
2.496 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.733 |
1.353 |
0.887 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.848 |
3.021 |
1.609 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
480.94 |
377.68 |
201.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.06
|
8.60 |
5.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.75
|
12.55 |
8.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.25
|
26.74 |
18.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.43 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.65
|
0.62 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.65
|
2.62 |
2.89 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
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 |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
NOTE
Registered office has been shifted from No.14, II Cross, 80 Feet Road,
R.M.V. II Stage, Bangalore-560094, Karnataka, India to the present address
w.e.f.03.01.2007.
FINANCIAL RESULTS
The company during the year has made a Turnover of Rs. 47.509 millions
and earned net profit before making provisions for taxation amounting to Rs.
5.581 millions as against Turnover of Rs. 34.840 millions and earned net profit
before making provision for taxation amounting to Rs. 4.374 millions for the
previous year.
FORM 8
|
Corporate
identity number of the company |
U18101KA1997PTC022140 |
|
Name of the
company |
JASMINE APPARELS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 3 and 4, 1st Main, Dasarahalli Extension, Hebbal Agricultural Farm Post, Bangalore-560024, Karnataka, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10275941 |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of India, No.1 and 24, Raghothaman Smaraka Sahakara Kendra, R.M.S. colony, Sanjaynagar, Bangalore-560094, Karnataka, India |
|
Nature of
instrument creating charge |
Hypothecation cum
Loan Agreement (Plant and Machinery, Stocks and book debts) |
|
Date of
instrument Creating the charge |
13.02.2012 |
|
Amount secured by
the charge |
Rs. 11.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC - 2.5% over
BR, presently 13.25% p.a. TL I - 3% over
BR, presently 13.75% p.a. TL II - 3.5% over
BR, presently 14.25% p.a. subject to
revision from time to time Terms of repayment CC - Running account
repayable on demand TL I - Repayable
in 75 graded monthly installments TL II - Repayable
in 75 graded monthly installments For both TLs,
door to door tenor is 84 months. Moratorium period proposed is 9 months from
the date of first disbursement of TL. Interest to be serviced on monthly
basis as and when charged. Margin As per bank
norms/sanction terms Extent and operation of the charge The charge shall
operate to the extent of the loan amount plus interest commission costs
expenses and other charges thereon Other The said amount
of Rs.11.300 Millions comprises CC Rs.4.800 Millions continued at existing
level and TL I Rs.5.200 Millions and TL II Rs.1.300 Millions |
|
Short particulars
of the property charged (Including location of the property) |
First charge by
way of hypothecation of stocks, book debts, plant, machinery existing and
those to be purchased stored/installed at company premises at No.3 and 4, 1st
Main, Dasarahalli Extension, Hebbal Agricultural Farm Post, Bangalore 560024
or at any other place |
|
Particulars of
the present modification |
By the above, the
amount secured by charge stands enhanced from Rs.4.800 Millions to Rs.11.300
Millions (all other terms
and conditions remain unchanged) |
FIXED ASSETS
- Air
Conditioner
- Camera
- Car
- Computer
- Electrical
Fittings
- Embroidery
Machine
- Fax Machine
- Furniture and
Fixtures
- Generator
- Honda Activa
- Ironing
Machine
- Plant and
Machinery
- Typewriter
- Ups
- Vaccum
Cleaner
- Voltage
Stabilizer
- Auto – 3
Wheeler
- Attendance
Machine
- Car Honda
City
- Mobile
- Water
Purifier
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. 55.54 |
|
|
1 |
Rs. 87.39 |
|
Euro |
1 |
Rs. 68.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
48 |
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.