MIRA
INFORM REPORT
|
Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAI INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
75, Mittal Chambers, Nariman Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-125864 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.603
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2000PTC125864 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ108678F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7722M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter and Importer of Seed Ingredients. |
|
|
|
|
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 331000 |
|
|
|
|
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) |
|
|
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 : |
75, Mittal Chambers, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22024018/ 22021068/ 40025050-56 |
|
Fax No.: |
91-22-22028549/ 40025060 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.08.2010
|
Name : |
Mr. Prakash Shantilal Loonawat |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Hemdeo House, 50/52, N.S. Patkar Marg, Mumbai – 400 007, |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.08.1950 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.08.2003 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01595299 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jayesh Motilal Phulpagar |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1138, Shukrawar Peth, Pune – 411 002, |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.05.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01640467 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Shalini Tushar Lunkad |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
55/561, |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.05.1973 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.08.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00877108 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2010
|
Names of Shareholders |
No. of Shares |
|
Jayesh Phulpagar |
149650 |
|
Prakash Loonawat |
150000 |
|
Shyama Loonawat |
60300 |
|
Shalini Lunkad |
350 |
|
Total |
360300 |
As on 31.08.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of Seed Ingredients. |
|
|
|
|
Products : |
v De-oiled Rice Bran/Meal v Rapseed Extraction v Sunflower Seed v Sesame Seed v Sal Seed v Mango Kernel v Copra Extraction v Soyabean Extraction v Groundnut Seed v Cotton Seed |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
ICICI
Bank Limited v
ABN
Amro Bank v
Kotak
Mahindra Bank Limited v
Standard
Chartered Bank v
Barclays
Bank v
The Hongkong and Shanghai Banking Corporation
Limited, 52/60, v
The Greater Bombay Co-Operative Bank Limited, 89,
G.B.C.B. House; Bhuleshwar, Mumbai – 400 002, v
Yes
Bank Limited, 9th Floor, Nehru Centre, Discovery of v
The Saraswat Co-Operative Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paras and Associates Chartered Accountants |
|
Address : |
30, Kamdar Shopping Centre, 2nd Floor, Opposite Station,
Vile Parle (East), Mumbai – 400 057, |
|
Income-tax
PAN of auditor or auditor's firm : |
ADUPJ3423D |
|
|
|
|
Related Party : |
Janak Exports Private Limited |
CAPITAL STRUCTURE
As on 31.08.2010
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 |
|
360300 |
Equity Shares |
Rs.10/- each |
Rs.3.603
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.603 |
3.603 |
3.603 |
|
|
2] Share Application Money |
22.500 |
22.500 |
22.500 |
|
|
3] Reserves & Surplus |
56.743 |
41.883 |
25.458 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
82.846 |
67.986 |
51.561 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.848 |
47.354 |
1.500 |
|
|
2] Unsecured Loans |
7.697 |
6.824 |
13.534 |
|
|
TOTAL BORROWING |
128.545 |
54.178 |
15.034 |
|
|
DEFERRED TAX LIABILITIES |
2.349 |
0.368 |
0.168 |
|
|
|
|
|
|
|
|
TOTAL |
213.740 |
122.532 |
66.763 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.243 |
16.384 |
3.534 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.501 |
0.501 |
0.501 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.019
|
36.582 |
40.897 |
|
|
Sundry Debtors |
150.640
|
67.424 |
159.071 |
|
|
Cash & Bank Balances |
67.911
|
59.495 |
9.700 |
|
|
Other Current Assets |
32.386
|
21.874 |
9.658 |
|
|
Loans & Advances |
30.656
|
24.617 |
30.304 |
|
Total
Current Assets |
313.612
|
209.992
|
249.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
80.857
|
54.950 |
170.882 |
|
|
Other Current Liabilities |
14.299
|
35.435 |
10.340 |
|
|
Provisions |
23.460
|
13.960 |
5.680 |
|
Total
Current Liabilities |
118.616
|
104.345
|
186.902 |
|
|
Net Current Assets |
194.996
|
105.647
|
62.728 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
213.740 |
122.532 |
66.763 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2493.448 |
1854.674 |
2021.741 |
|
|
|
Other Income |
86.121 |
0.000 |
15.766 |
|
|
|
TOTAL (A) |
2579.569 |
1854.674 |
2037.507 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
2548.015 |
1827.411 |
2018.931 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2548.015 |
1827.411 |
2018.931 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.554 |
27.263 |
18.576 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.811 |
(0.233) |
5.366 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.743 |
27.496 |
13.210 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.401 |
1.275 |
1.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.342 |
26.221 |
11.450 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.482 |
9.810 |
4.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.860 |
16.411 |
6.773 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2343.938 |
1710.941 |
1762.833 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
0.000 |
5.113 |
2.812 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.24 |
45.59 |
18.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.58 |
0.88
|
0.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.06
|
1.41 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.94 |
11.58
|
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.39
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.98 |
2.33
|
3.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64 |
2.01
|
1.34 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The company has achieved turnover of Rs.2493.400 millions as compared to
Rs.1854.700 millions. The company is planning to introduce some more products
so as to enhance the turnover and profitability.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Bank Guarantee |
0.003 |
|
Income Tax in Dispute |
4.499 |
|
|
|
FORM 8
|
Corporate
identity number of the company |
U51900MH2000PTC125864 |
|
Name of the
company |
JAI INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
75, Mittal Chambers, Nariman Point, Mumbai – 400 021, E-Mail: mukund_nmc@yahoo.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
CIN No.:
L65190MH2003PLC143249 Yes Bank Limited,
9th Floor, Nehru Centre, Discovery of E-Mail: dlbbcadmum@yesbank.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
19.03.2011 |
|
Amount secured by
the charge |
Rs.40.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge: Subservient
Charge on Current Assets to cover following facilities: 1) Advance against
Export Collection Bills (Foreign
Currency) (Backed by Sight LC): INR
40.000 millions 2) Advance
against Export Collection Bills (Indian Rupee) (Backed by Export Order)
(Sub-limit of 1 above): INR 20.000 millions 3) Overdraft
(Sublimit of 1 above): INR 2.500 millions |
|
Short particulars
of the property charged |
Extent and
Operation of the charge: Subservient
Charge on Current Assets to cover following facilities: 1) Advance
against Export Collection Bills
(Foreign Currency) (Backed by Sight
LC): INR 40.000 millions 2) Advance
against Export Collection Bills (Indian Rupee) (Backed by Export Order)
(Sub-limit of 1 above): INR 20.000 millions 3) Overdraft
(Sublimit of 1 above): INR 2.500 millions |
FIXED ASSETS
v Refrigerator
v Air Conditioner
v Fax Machine
v Furniture and Fixture
v Water Purifier
v Xerox Machine
v Motor Car
v Motor Lorry
v Scooter
v Office Premises
v Television
v Gas Stove
v Telecom Instruments
v Computer
v Land
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.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.80 |
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 |
YES |
|
--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.