MIRA INFORM REPORT
|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
JEWEL PAPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
706, GIDC, Phase III Wadhwan, Surendranagar - 363035 Gujarat |
|
|
|
|
Country : |
India 4 |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.02.1992 |
|
|
|
|
Com. Reg. No.: |
04-017082 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.992
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21019GJ1992PTC017082 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMJ01659A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5757A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Packaging Materials. |
|
|
|
|
No. of Employees
: |
Information declined by management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global financial
crisis - in large part because of strong domestic demand - and growth exceeded
8% year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
INFORMATION DECLINED
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-32537744 |
|
Date : |
14.12.2012 |
LOCATIONS
|
Registered Office/ Factory : |
706, GIDC, Phase III Wadhwan, Surendranagar - 363035 Gujarat, India |
|
Tel. No.: |
91-22-32537744 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Sanjaykumar Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
“Paras Mani”, 5 Ashok Society, Surendranagar, Gujarat, India |
|
Date of Birth/Age : |
04.08.1964 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00082214 |
|
|
|
|
Name : |
Mr. Niranjan Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
201, Simandhar Apartment, 2nd Floor, Behind Sanskar
Society, Surendranagar - 363002, Gujarat, India |
|
Date of Birth/Age : |
24.10.1947 |
|
Date of Appointment : |
29.09.2005 |
|
DIN No.: |
00261383 |
|
|
|
|
Name : |
Mr. Narendrabhai Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
37, Nutan Society, opposite Vrundavan Hotel, Jintan Road,
Surendranagar - 363002, Gujarat, India |
|
Date of Birth/Age : |
04.03.1955 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00082230 |
|
|
|
|
Name : |
Mr. Rahul Bipin Shah |
|
Designation : |
Director |
|
Address : |
S/2, Purnima Building, M.G. Road, Mulund (West), Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
07.07.1976 |
|
Date of Appointment : |
29.09.2005 |
|
DIN No.: |
00115453 |
|
|
|
|
Name : |
Mr. Nayankumar Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
24, Sanskar Society, Jintan Road, Surendranagar, Gujarat, India |
|
Date of Birth/Age : |
17.02.1952 |
|
Date of Appointment : |
29.09.2005 |
|
DIN No.: |
00082368 |
|
|
|
|
Name : |
Mr. Nitinbhai Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
48, New Servoday Society, Surendranagar, Gujarat, India |
|
Date of Birth/Age : |
22.02.1954 |
|
Date of Appointment : |
29.09.2005 |
|
DIN No.: |
00115516 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packaging Materials. |
GENERAL INFORMATION
|
Suppliers : |
Ø A.K. Chemicals Ø Alteem
Instruments Ø Aman Industries Ø Anand Chemicals Ø Aries Engineeers Ø Bhavna Roadways Ø Bhavani Trading
Company Ø Celltrade
Private Limited Ø Chandpur
Enterprises Limited Ø Dawn Chemical Ø DIC India
Limited Ø Doshi marketing Ø Ganesh Steel
Traders Ø India Foils
Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Ø Adcock Ingram
Limited Ø Amrut International Ø Ashani Products
Private Limited Ø Casil Industries
Limited Ø Dabur India
Limited Ø Desai Traders Ø Esteem Auto
Private Limited Ø Fitco India Ø Garima Global
Private Limited Ø Gokul Plaastics Ø G.S. Products Ø Hipolin Limited Ø H.M. Traders |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by management
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Ø HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India Ø Axis Bank Limited,
Ajmera Chambers, S.T. Road, Surendranagar - 363002, Gujarat, India Ø Kotak Mahindra
Bank Ø State Bank of
India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hitesh V. Shah and Company Chartered Accountants |
|
Address : |
108, Dwarkesh, Main Road, Surendranagar – 363001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ADRPS4565L |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99,920 |
Equity Shares |
Rs. 100/- each |
Rs. 9.992
Millions |
|
|
|
|
|
Disclosure pursuant to Note No. 6(A)(d) of Part 1 of Schedule VI to the
Companies Act, 1956
|
Particulars |
31.03.2012 |
|
|
|
Number |
Amount |
|
Shares outstanding at the beginning of the
year |
99920 |
9.992 |
|
Shares issued during the year |
0 |
0.000 |
|
Shares outstanding at the end of the year |
99920 |
9.992 |
Disclosure pursuant to Note No. 6(A)(g) of Part 1 of Schedule VI to the
Companies Act, 1956
|
Particulars |
31.03.2012 |
|
|
|
Number |
% of Holding |
|
Niranjanbhai R. Shah |
6076 |
6.08 |
|
NitinBhai R. Shah |
6166 |
6.17 |
|
Sonalben J. Shah |
14245 |
14.26 |
|
Narendrabhai R. Shah |
6484 |
6.49 |
|
Rahul B. Shah |
21641 |
21.66 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.992 |
9.992 |
9.992 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
32.658 |
30.652 |
27.114 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.650 |
40.644 |
37.106 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.714 |
14.460 |
7.996 |
|
|
2] Unsecured Loans |
26.083 |
22.728 |
22.252 |
|
|
TOTAL BORROWING |
39.797 |
37.188 |
30.248 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.447 |
77.832 |
67.354 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
39.901 |
42.497 |
42.960 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
5.146 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.923
|
35.884 |
25.442 |
|
|
Sundry Debtors |
35.779
|
37.076 |
39.712 |
|
|
Cash & Bank Balances |
9.801
|
10.293 |
2.052 |
|
|
Other Current Assets |
0.016
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.390
|
6.210 |
6.825 |
|
Total
Current Assets |
82.909
|
89.463 |
74.031 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.910
|
|
|
|
|
Other Current Liabilities |
1.683
|
0.251 |
52.395 |
|
|
Provisions |
2.770
|
2.661 |
2.388 |
|
Total
Current Liabilities |
40.363
|
54.128 |
54.783 |
|
|
Net Current Assets |
42.546
|
35.335 |
19.248 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.447 |
77.832 |
67.354 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
256.631 |
296.002 |
350.752 |
|
|
|
Other Income |
3.425 |
2.151 |
0.482 |
|
|
|
TOTAL |
260.056 |
298.153 |
351.234 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
256.212 |
293.101 |
344.941 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.844 |
5.052 |
6.293 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.688 |
1.500 |
1.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.156 |
3.552 |
4.673 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.58 |
35.55 |
46.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.83 |
1.19 |
1.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50 |
1.71 |
1.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.13 |
3.83 |
5.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.12 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.88 |
2.38 |
2.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05 |
1.65 |
1.35 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade payable |
35.910
|
51.216 |
N.A. |
|
|
|
|
|
|
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 |
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 |
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 |
FIXED ASSETS:
Ø Factory Building
Ø Plant and Machinery
Ø Furniture
Ø Vehicles
Ø Computer
Ø Fax Machine
Ø Typewriter
Ø Water cooler
Ø Inverter
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 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. 54.39 |
|
|
1 |
Rs. 87.78 |
|
Euro |
1 |
Rs. 71.29 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.