MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	JSK MARKETING PRIVATE LIMITED
Formerly Known As :	KWIK APPLIANCES PRIVATE LIMITED
Registered Office :	403-405, Sumer Kendra Co-operative Society Limited, 4^th Floor, Behind Mahindra Tower, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.09.1985
Com. Reg. No.:	11-037465
Capital Investment / Paid-up Capital :	Rs.21.485 Millions
CIN No.: [Company Identification No.]	U29300MH1985PTC037465
TAN No.: [Tax Deduction & Collection Account No.]	MUMK04722E
PAN No.: [Permanent Account No.]	AABCK4906F
Legal Form :	Private Limited Liability Company
Line of Business :	Company is engaged in the Marketing and Sales of Fast Moving Consumer Goods (FMCG).
No. of Employees :	Not Available

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 400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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)
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 :	403-405, Sumer Kendra Co-operative Society Limited, 4^th Floor, Behind Mahindra Tower, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-61209400/ 24963106/ 7/ 8
Fax No.:	91-22-24950945
E-Mail :	vyas@jskindia.com info@jskindia.com ganesh@jskindia.com vijay@jskindia.com
Website :	http://www.jskindia.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Krishna Kumar Jiwarajka

Designation :

Managing Director

Address :

Grand Parati Apartment, Flat No.161, Block No.6, August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

10.12.1951

Qualification :

Graduate

Date of Appointment :

31.12.1999

DIN No.:

00040316

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1973PTC006464	VIDEO ELECTRONICS PRIVATE LIMITED	Director	3/7/1984	3/7/1984	30/09/2008	Active	NO
2	U74210MH1980PTC022757	NOVA TELESEC PRIVATE LIMITED	Director	15/07/1985	15/07/1985	19/02/2007	Active	NO
3	L65990MH1984PLC033922	ARTHEON FINANCE LIMITED	Director	17/02/1990	17/02/1990	3/5/2007	Active	NO
4	U74899DL1994PLC057392	MOZA HOSIERY INDIA LIMITED	Director	14/02/1994	14/02/1994	-	Strike off	NO
5	U74999MH1994PTC082470	ARTHEON ENERGY PRIVATE LIMITED	Managing director	27/10/1994	27/10/1994	-	Active	NO
6	U67120MH1995PTC087405	SUTLEJ SECURITIES PRIVATE LIMITED	Director	12/6/1995	12/6/1995	-	Active	NO
7	U29300MH1985PTC037465	JSK MARKETING PRIVATE LIMITED	Managing director	21/03/2007	31/12/1999	-	Active	NO
8	U00000DL2000PLC103410	SALORA RETAIL VENTURES LIMITED	Director	24/01/2000	24/01/2000	4/9/2009	Active	NO
9	U51100DL2005PLC164948	RADIOHMS AGENCIES LIMITED	Director	18/01/2005	18/01/2005	13/02/2007	Active	NO
10	U67120MH1984PTC033227	RADIOHMS INVESTMENTS AND TRADING PRIVATE LIMITED	Director	29/09/2007	19/02/2007	-	Active	NO
11	U31109MH2008PTC178288	KPC HI-TECH PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
12	L29142TN1982PLC009560	PANASONIC CARBON INDIA COMPNY LIMITED	Director	23/07/2010	22/10/2009	-	Active	NO
13	U74900MH2010PTC205907	S&J GRANULATE SOLUTIONS PRIVATE LIMITED	Managing director	1/4/2011	23/07/2010	-	Active	NO

Name :

Mrs. Laxmi Devi Jiwarajaka

Designation :

Director

Address :

Grand Parati Apartment, Flat No.161, Block No.6, August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

15.08.1952

Date of Appointment :

12.01.1989

DIN No.:

00050617

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29300MH1985PTC037465	JSK MARKETING PRIVATE LIMITED	Director	12/1/1989	12/1/1989	Active	NO
2	U67120MH1995PTC087405	SUTLEJ SECURITIES PRIVATE LIMITED	Director	11/7/2005	11/7/2005	Active	NO
3	U67120MH1984PTC033227	RADIOHMS INVESTMENTS AND TRADING PRIVATE LIMITED	Director	29/09/2007	19/02/2007	Active	NO

Name :

Mr. Kunal Krishnakumar Jiwarajka

Designation :

Director

Address :

Grand Parati Apartment, Flat No.161, Block No.6, August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

27.02.1984

Qualification :

BSC, (Industrial Engineering and Operations)

Date of Appointment :

30.04.2007

DIN No.:

01448603

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29300MH1985PTC037465	JSK MARKETING PRIVATE LIMITED	Director	27/09/2007	30/04/2007	-	Active	NO
2	U31109MH2008PTC178288	KPC HI-TECH PRIVATE LIMITED	Director	28/01/2008	28/01/2008	30/08/2011	Active	NO
3	U74900MH2010PTC205907	S&J GRANULATE SOLUTIONS PRIVATE LIMITED	Additional director	1/4/2011	26/07/2010	-	Active	NO

Name :

Mr. Surender Kumar Chopra

Designation :

Director

Address :

B-138, Ashok Vihar, Phase – I, Delhi – 110052, India

Date of Birth/Age :

20.10.1944

Date of Appointment :

01.12.2010

DIN No.:

03295270

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29300MH1985PTC037465	JSK MARKETING PRIVATE LIMITED	Director	30/09/2011	1/12/2010	Active	NO

Name :

Mr. Sakshi Jiwarajka

Designation :

Director

Address :

New Grand Parati Apartment, Flat No. C-161, Block No.6, August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

26.06.1983

Date of Appointment :

01.12.2010

DIN No.:

03303483

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29300MH1985PTC037465	JSK MARKETING PRIVATE LIMITED	Director	30/09/2011	1/12/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders (Equity Shares)	No. of Shares
Krishna Kumar Jiwarajka	34200
Krishna Kumar Jiwarajka HUF	60800
Laxmi Devi Jiwarajaka	34200
Kunal Krishnakumar Jiwarajka	34200
Savitridevi Jiwarajka	9500
Radiohms Investment and Trading Private Limited, India	17100
Total	190000
Names of Shareholders (4% Non-Cumulative Redeemable Preference Shares)	No. of Shares
Krishna Kumar Jiwarajka	1900
Krishna Kumar Jiwarajka HUF	11950
Laxmidevoi Jiwarajka	11000
Total	24850

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	9.00
Directors or relatives of directors	91.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Company is engaged in the Marketing and Sales of Fast Moving Consumer Goods (FMCG).

Products :

Products Description	Item Code No.
Battery	850611.00
Torch Light	851310.05
Camera	85258020
Cell Phone	85173000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank

· HDFC Bank

· State Bank of India

· Standard Chartered Bank

SME Credit, Crescenzo, 3A/F, Plot No.C-38 and 39, G Block, Bandra Kurla Complex, Bandra, Mumbai – 400051, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	116.429	31.550
Loans taken for vehicles secured	115.044	71.149
Total	231.473	102.699
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans Directors Unsecured	210.718	176.645
Total	210.718	176.645

Banking Relations :	--
Auditors :
Name :	D.C. Bothra and Company Chartered Accountants
Address :	297-Tardeo Road, Willie Mansion, Nana Chowk, Mumbai – 400007, Maharashtra, India
PAN No.:	AACFD4645G
Associates :	· Associated Electrical Agencies · R. P. Agencies · Nippo Batteries Company Limited · Radiohms Agencies · Radiohms Investments and Trading Company Private Limited · Radiohms Agencies Limited · KPC HI-Tech Private Limited · Feature Home Products Private Limited · Artheon Electronics Limited

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
475000	Equity Share	Rs.100/- each	Rs.47.500 Millions
25000	4% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.2.500 Millions
	Total		Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
190000	Equity Share	Rs.100/- each	Rs.19.000 Millions
24850	4% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.2.485 Millions
	Total		Rs.21.485 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		21.485	19.000	21.485
2] Share Application Money		0.000	2.485	0.000
3] Reserves & Surplus		76.941	70.169	53.696
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		98.426	91.654	75.181
LOAN FUNDS
1] Secured Loans		231.473	102.699	88.825
2] Unsecured Loans		210.718	176.645	64.366
TOTAL BORROWING		442.191	279.344	153.191
DEFERRED TAX LIABILITIES		3.026	1.764	1.144
TOTAL		543.643	372.762	229.516
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		53.070	32.114	23.288
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.143	7.675	6.823
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	245.346	213.541	124.147
	Sundry Debtors	112.562	132.377	101.054
	Cash & Bank Balances	30.313	30.363	22.018
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	213.043	68.049	46.336
Total Current Assets		601.264	444.330	293.555
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	87.191	80.274	64.102
	Other Current Liabilities	29.784	30.670	29.724
	Provisions	0.859	0.599	0.541
Total Current Liabilities		117.834	111.543	94.367
Net Current Assets		483.430	332.787	199.188
MISCELLANEOUS EXPENSES		0.000	0.186	0.217
TOTAL		543.643	372.762	229.516

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	GROSS INCOME		1887.754	1449.733	1112.178
	PROFIT BEFORE TAX		9.711	20.159	1.591
Less	TAX		2.939	3.686	1.086
	PROFIT AFTER TAX		6.772	16.473	0.505
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		32.829	28.856	28.351
Less	APPROPRIATIONS
		Transfer to General Reserve	6.000	12.500	0.000
	BALANCE CARRIED TO THE B/S		33.601	32.829	28.856
	IMPORTS VALUE		NA	326.603	131.730
	Earnings Per Share (Rs.)		35.64	86.70	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	1.48	4.23	0.50
Return on Investment (ROI) (PBT/Networth)		0.10	0.22	0.02
Debt Equity Ratio (Total Liability/Networth)		5.69	4.26	3.29
Current Ratio (Current Asset/Current Liability)		5.10	3.98	3.11

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered office of the company has been shifted from 84, Marthanda, Dr. A. B. Road, Worli Naka, Worli, Mumbai – 400018, Maharashtra, India, to the present address w.e.f. 06.09.2010.

FORM 8:

Corporate identity number of the company	U29300MH1985PTC037465
Name of the company	JSK MARKETING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	403-405, Sumer Kendra Co-Op Society Limited, 4th Floor, Behind Mahindra Tower, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra, India vyas@jskindia.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Standard Chartered Bank SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra, Mumbai – 400051, Maharashtra, India sme.form8@sc.com
Nature of instrument creating charge	Hypothecation Agreement
Date of instrument Creating the charge	11/07/2011
Amount secured by the charge	Rs.320.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: As agreed by and with the Bank from time to time. Terms of repayment As agreed by and with the Bank from time to time. Margin: As applicable, if any. Extent and operation of the charge The Bank is having first charge on the security given by the Company
Particulars of the property charged	Hypothecation by way of first charge on: a) All the stock in trade both present and future consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise. b) All the present and future book debts, outstanding moneys receivable, claims and bills.

FIXED ASSETS

· Land

· Building

· Factory Equipment

· Plant and Machinery

· Office Equipment

· Computer

· Furniture and Fixture

· Vehicles

· Electrical Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.49.68
UK Pound	1	Rs.78.17
Euro	1	Rs.65.52

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	4
--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	YES
--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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.