Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
JIVA DESIGNS PRIVATE LIMITED |
Principal Name 1 |
Mr. Rakesh Kumar |
|
Status |
Moderate |
Principal Name 2 |
Mr. Shiv Chand Yadav |
|
|
|
Registration # |
55-111290 |
|
Street Address |
4, SC India House, New Delhi-110001, India |
||
|
Established Date |
15.06.2001 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Readymade Garments |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Ladies Garments |
|
|
# of employees |
Not Available |
Product Name 2 |
Dresses |
|
Paid up capital |
Rs.
7,600,000/- |
Product Name 3 |
Skirts |
|
Shareholders |
Other top fifty shareholders – 100% |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
No |
Business Period |
11 years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (28) |
|
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 |
62,573,000 |
Current Liabilities |
22,732,000 |
|
Inventories |
63,260,000 |
Long-term Liabilities |
108,661,000 |
|
Fixed Assets |
17,014,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
100,000 |
Total Liabilities |
131,393,000 |
|
Invest& other Assets |
14,000 |
Retained Earnings |
3,968,000 |
|
|
|
Net Worth |
11,568,000 |
|
Total Assets |
142,961,000 |
Total Liab. & Equity |
142,961,000 |
|
Total Assets (Previous Year) |
131,704,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
183,539,000 |
Net Profit |
2,305,000 |
|
Sales(Previous yr) |
195,112,000 |
Net Profit(Prev.yr) |
2,988,000 |
MIRA INFORM
REPORT
|
Report Date : |
02.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
JIVA DESIGNS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
4, SC India House, 2nd Floor, Connaught Place, New
Delhi-110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.06.2001 |
|
|
|
|
Com. Reg. No.: |
55-111290 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101DL2001PTC111290 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ05155D DELJ04426C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABGT1596N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of readymade garments |
|
|
|
|
No. of Employees
: |
Not Available |
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 46000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Financial
position of the company is improving. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 : |
4, SC India House, 2nd Floor, Connaught Place, New
Delhi-110001, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
I-41/A, DLF Industrial Estate, Phase-I, Faridabad-121003, Haryana,
India |
|
Tel. No.: |
91-129-4193000 |
|
Fax No.: |
91-129-4193088 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rakesh Kumar |
|
Designation : |
Director |
|
Address : |
N-5, Saurabh Vihar, Amar Market, Jaitpur-110044, New Delhi |
|
Date of Birth/Age : |
01.07.1959 |
|
Date of Appointment : |
01.11.2005 |
|
DIN No.: |
01417066 |
|
|
|
|
Name : |
Mr. Shiv Chand Yadav |
|
Designation : |
Director |
|
Address : |
Indira Colony, Behror, Alwar-301701, Rajasthan, India |
|
Date of Birth/Age : |
02.08.1976 |
|
Date of Appointment : |
16.12.2008 |
|
DIN No.: |
02447424 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sharmila Dalmia |
751900 |
|
Surekha Aggarwal |
5000 |
|
Gaurav Dalmia |
1900 |
|
Mridu Hari Dalmia |
1200 |
|
Total |
760000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Other top fifty shareholders |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of readymade garments. |
PRODUCTION STATUS
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Readymade Garments |
Pcs |
234963 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, 4/10, OPG House, Asaf Ali
Road, New Delhi-110002, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KRA and Company Chartered Accountants |
|
Address : |
H-1/109, Garg Tower, Netaji Subhash Place, Pitam Pura, New
Delhi-110034, India |
|
Tel. No.: |
91-11-47082855 |
|
Website : |
|
|
Pan No.: |
AFVPG5949N |
CAPITAL STRUCTURE
AS ON 31.03.2011
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 |
|
|
|
|
|
|
760000 |
Equity Shares |
Rs.10/- each |
Rs. 7.600
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 |
7.600 |
7.600 |
6.680 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.968 |
1.508 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1.543) |
|
|
NETWORTH |
11.568 |
9.108 |
5.137 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.887 |
22.413 |
22.094 |
|
|
2] Unsecured Loans |
86.774 |
75.057 |
74.694 |
|
|
TOTAL BORROWING |
108.661 |
97.470 |
96.788 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
120.229 |
106.578 |
101.925 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.014 |
13.799 |
12.644 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.100 |
0.107 |
0.062 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.260
|
58.692 |
50.950 |
|
|
Sundry Debtors |
46.240
|
45.477 |
44.960 |
|
|
Cash & Bank Balances |
2.819
|
3.210 |
2.409 |
|
|
Other Current Assets |
4.425
|
8.511 |
9.337 |
|
|
Loans & Advances |
9.089
|
1.887 |
1.738 |
|
Total
Current Assets |
125.833
|
117.777 |
109.394 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.629
|
20.171 |
17.406 |
|
|
Other Current Liabilities |
5.103
|
3.080 |
1.935 |
|
|
Provisions |
0.000
|
1.875 |
0.863 |
|
Total
Current Liabilities |
22.732
|
25.126 |
20.204 |
|
|
Net Current Assets |
103.101
|
92.651 |
89.190 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.014 |
0.021 |
0.029 |
|
|
|
|
|
|
|
|
TOTAL |
120.229 |
106.578 |
101.925 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
183.539 |
195.112 |
165.332 |
|
|
|
Other Income |
6.415 |
9.636 |
8.040 |
|
|
|
TOTAL (A) |
189.954 |
204.748 |
173.372 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
89.567 |
120.524 |
98.151 |
|
|
|
Manufacturing Expenses |
50.507 |
35.948 |
37.530 |
|
|
|
Personnel Expenses |
20.194 |
19.132 |
14.564 |
|
|
|
Other Expenses |
23.899 |
25.526 |
25.536 |
|
|
|
Preliminary Expenses W/Off |
0.008 |
0.008 |
0.000 |
|
|
|
Increase / (Decrease) in Stock |
(4.568) |
(7.742) |
(12.539) |
|
|
|
TOTAL (B) |
179.607 |
193.396 |
163.242 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.347 |
11.352 |
10.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.624 |
4.352 |
3.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.723 |
7.000 |
7.019 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.379 |
2.118 |
2.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.344 |
4.882 |
4.957 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.039 |
1.894 |
0.865 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.305 |
2.988 |
4.092 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.508 |
(1.542) |
(5.785) |
|
|
|
|
|
|
|
|
|
Add |
EXCESS PROVISION
FOR INCOME TAX REVERSED |
0.156 |
0.062 |
0.151 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.969 |
1.508 |
(1.542) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
171.604 |
196.877 |
129.452 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.03 |
3.93 |
31.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.21
|
1.46 |
2.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.82
|
2.50 |
3.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.34
|
3.71 |
4.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.54 |
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.36
|
13.46 |
22.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.54
|
4.69 |
5.41 |
LOCAL AGENCY FURTHER INFORMATION
ACTIVITIES
The Company is engaged in the business of readymade garments. There was production
of 234963 pieces of readymade garments as against 252590 pieces during the
previous year, Sales were for 243062 pieces as against 227245 pieces during the
previous year.
FORM 8
|
Corporate
identity number of the company |
U18101DL2001PTC111290 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
4, SC India House, New Delhi-110001, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, 4/10, OPG House, Asaf Ali Road, New Delhi-110002,
India |
|
Nature of
instrument creating charge |
Link Cum
Supplementary Document. |
|
Date of
instrument Creating the charge |
03.01.2012 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Sanction Letter
No. AXISB/SME/2011-12/12542 Dated 28.12.2011 To Be Amended From Time To Time. Terms of repayment As Per Sanction
Letter No. AXISB/SME/2011-12/12542 Dated 28.12.2011 To Be Amended From Time
To Time. Margin As Per Sanction
Letter No. AXISB/SME/2011-12/12542 Dated 28.12.2011 To Be Amended From Time
To Time. Extent and operation of the charge Extent and
Operation - 100% Other The Above is To
Secure The Following :- (Rs. In Millions) EPC / FBD = 25.000 PCFC =
(20.000) (sub limit within EPC) LER = (10.000) (sub limit within EPC) |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first and exclusive charge over all present and future current assets
and movable fixed assets (excluding vehicles) of the company stored or to be
stored at the company's godowns or premises or wherever else the same may be. |
|
Charge
identification number of the charge to be modified |
80013522 |
|
Date of instrument
modifying the charge |
24.05.2010 |
|
Particulars of
the present modification |
There being no change in the overall limit of Rs. 25.000 millions
Already regd. however LER limit of Rs. 4.000 millions has been enhanced to
Rs. 10.000 millions as sublimit of EPC within the overall limit of Rs. 25.000
millions and shall continued to be secured by first and exclusive charge over
all present and future current assets and movable fixed assets (excluding
vehicles) of the company. |
FIXED ASSETS
·
Air Conditioner
·
Camera
·
Computer
·
Electric Fitting
·
Furniture and Fixtures
·
Fire Equipment
·
Generator
·
Goodwill
·
Motor Vehicle
·
Office Equipment
·
Plant and Machinery
·
Temporary Partitions
·
Motor Cycle
·
Water Cooler
·
Car
·
Building
·
Pollution Control Machine
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. 49.53 |
|
|
1 |
Rs. 77.94 |
|
Euro |
1 |
Rs. 64.65 |
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 |
2 |
|
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.