|
Report Date : |
18.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL MECTEC PRIVATE LIMITED (w.e.f.30.10.2003) |
|
|
|
|
Formerly Known
As : |
K.J. POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B 29, Sanjay Market PKT 3, Sector 2, Rohini, New |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-055919 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 21.181 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC055919 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ04449E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK1091J |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturers of All Kinds of Plastic Goods, Polythene
Bags, Resins, Dyes, Chemical Pigments, Plasticisers And Lubricants Etc., PVC
Goods. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well 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 : |
B 29, Sanjay Market Pocket 3, Sector 2, Rohini, |
|
Tel. No.: |
91-11-27512283/84 |
|
Fax No.: |
91-11-27513541 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Old |
|
Tel. No.: |
91-124-4086401/2/3 |
|
Fax No.: |
91-124-4030807 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pawan Jindal |
|
Designation : |
Director |
|
Address : |
704, Sector-15, Part II, Gurgaon-122001, |
|
Date of Birth/Age : |
03.01.1952 |
|
Date of Appointment : |
03.11.1993 |
|
DIN No.: |
00159997 |
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 |
U74899DL1993PTC055919 |
JINDAL
MECTEC PRIVATE LIMITED. |
Director |
03-11-93 |
03-11-93 |
Active |
NO |
|
2 |
U18101HR2005PTC035809 |
ADINATH
FURNISHING PRIVATE LIMITED |
Director |
25-07-05 |
25-07-05 |
Active |
NO |
|
3 |
U28990DL2009PTC189371 |
JINDAL
ENERCON PRIVATE LIMITED |
Director |
15-04-09 |
15-04-09 |
Active |
NO |
|
Name : |
Mr. Shiv Kumar Sharma |
|
Designation : |
Director |
|
Address : |
3 A, 606 Rang Rasayan Sector-13, Rohini, New Delhi-110085, |
|
Date of Birth/Age : |
29.04.1963 |
|
Date of Appointment : |
02.11.1997 |
|
DIN No.: |
00160089 |
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 |
U74899DL1993PTC055919 |
JINDAL
MECTEC PRIVATE LIMITED. |
Director |
02-11-97 |
02-11-97 |
Active |
NO |
|
2 |
U63030MH2012PTC225648 |
DOLPHIN
EXPRESS PRIVATE LIMITED |
Director |
02-01-12 |
02-01-12 |
Active |
NO |
|
Name : |
Mr. Gaurav Jindal |
|
Designation : |
Additional Director |
|
Address : |
H No.704, Sector-15, Part-II, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
27.09.1988 |
|
Date of Appointment : |
30.04.2010 |
|
DIN No.: |
01606125 |
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 |
U34300DL2005PTC132465 |
ADHUNIK
AUTOMOTIVES PRIVATE LIMITED |
Director |
16-06-07 |
16-06-07 |
Active |
NO |
|
2 |
U74899DL1993PTC055919 |
JINDAL
MECTEC PRIVATE LIMITED |
Additional
director |
30-04-10 |
30-04-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Jindal Finlease Private Limited, India |
183000 |
|
Anita Jindal |
390060 |
|
Gaurav Jindal |
110010 |
|
Pawan Jindal |
425020 |
|
Sabina Jindal |
210010 |
|
Jindal Jyoti Prefab Private Limited, India |
600000 |
|
Sarvpriya Agro Private Limited, India |
200000 |
|
Total |
2118100 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
46.00 |
|
Directors or relatives of Directors |
54.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of All Kinds of Plastic Goods, Polythene
Bags, Resins, Dyes, Chemical Pigments, Plasticisers And Lubricants Etc., PVC
Goods. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Prime Corporate Branch – II, 2nd
Floor, world Trade Centre, Barakhamba Lane, New Delhi-110001, Delhi, India |
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Goyal Mahajan and Associates Chartered Accountant |
|
Address : |
SCF-50, 1st Floor, Leela Bhawan, Patiala-147001, |
|
Pan No.: |
AAAFG7375A |
|
|
|
|
Relatives of key Management Personnel & their
enterprises : |
·
Jindal Finlease Private Limited ·
Jindal Buildsys Limited ·
Jindal Padding Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2118100 |
Equity Shares |
Rs.10/- each |
Rs. 21.181
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 |
21.181 |
21.181 |
20.851 |
|
|
2] Share Application Money |
98.675 |
86.750 |
92.525 |
|
|
3] Reserves & Surplus |
245.675 |
203.778 |
135.713 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
365.531 |
311.709 |
249.089 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
717.090 |
776.971 |
694.158 |
|
|
2] Unsecured Loans |
131.423 |
131.138 |
131.279 |
|
|
TOTAL BORROWING |
848.513 |
908.109 |
825.437 |
|
|
DEFERRED TAX LIABILITIES |
22.709 |
7.554 |
31.117 |
|
|
|
|
|
|
|
|
TOTAL |
1236.753 |
1227.372 |
1105.643 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
472.050 |
484.059 |
503.428 |
|
|
Capital work-in-progress |
21.089 |
13.184 |
7.741 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.591 |
0.501 |
0.501 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
590.028
|
403.898 |
334.875
|
|
|
Sundry Debtors |
498.354
|
424.048 |
289.004
|
|
|
Cash & Bank Balances |
37.991
|
27.380 |
18.390
|
|
|
Other Current Assets |
1.795
|
1.217 |
0.000
|
|
|
Loans & Advances |
92.290
|
34.791 |
50.122
|
|
Total
Current Assets |
1220.458
|
891.334 |
692.391 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
356.727
|
135.982 |
64.888 |
|
|
Other Current Liabilities |
119.004
|
28.788 |
32.707
|
|
|
Provisions |
1.704
|
(3.064) |
0.823
|
|
Total
Current Liabilities |
477.435
|
161.706 |
98.418 |
|
|
Net Current Assets |
743.023
|
729.628 |
593.973
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1236.753 |
1227.372 |
1105.643 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
1616.786 |
1155.470 |
1206.400 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
57.201 |
36.723 |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
NA |
9.860 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.38
|
2.67 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.12 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.69
|
3.46 |
3.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56
|
5.51 |
7.04 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE REVIEW
The company has
achieved Turnover (Gross) of Rs 1616.786 millions during the year 2010-2011 as
compared to previous year turnover of Rs 1155.470 millions. The company has earned
Profit before taxes of Rs 57.201 millions as compared to previous year figure
of Rs 36.723 millions.
CONTINGENT LIABILITIES
(Rs.
In millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
Bank Guarantee |
66.904 |
110.418 |
FORM 8
|
Corporate identity
number of the company |
U74899DL1993PTC055919 |
|
Name of the
company |
JINDAL MECTEC
PRIVATE LIMITED. |
|
Address of the
registered office or of the principal place of business in |
B 29, Sanjay Market Pocket 3, Sector 2, Rohini, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of charge
holder |
Canara Bank, Prime Corporate Branch – II, 2nd
Floor, world Trade Centre, Barakhamba Lane, New Delhi-110001, Delhi, India |
|
Nature of
instrument creating charge |
Hypothecation Agreement
of Goods and Book Debts (for DALC/DPG/Guarantees), Agreement for Opening
Inland Irrevocable Letters of Credit, Counter Indemnity and Agreement Re:
Collateral Security : Machinery : Vehicles, Letter evidencing deposit of
title deeds |
|
Date of instrument
Creating the charge |
06.01.2011 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of interest
shall be charged @ 18.00% p.a. Terms of repayment Payable on
demand. Margin 10% as permitted
for regular ILC/BG Limits Extent and operation of the charge 100% Other To secure all
amounts payable under ILC(DA/DP)/BG (ST basis) Limit of Rs. 100.000 Millions
(with sub limit for ILC of Rs. 75.000 Millions) granted to the Company
together with all interests, costs, charges, expenses etc. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Goods placed at Vill. Narsinghpur, Gurgaon, Plot 91, Sec 8,IMT Manesar, Vill
Souri Teh. Nalagarh, Solan (HP) or elsewhere and hypothecation of receivables
present and future Collaterally
secured by way of equitable mortgage on Immovable properties of the company
on All that piece and parcels of land and building existing and/or to be
constructed thereon, situated at (a)
Plot
no. 91, Sec 8, IMT, Manesar, Gurgaon (b)
Village
Muaza Silvana, Narsinghpur, Tehsil and District Gurgaon (c)
Village
Souri Hadbast No. 132, Pargana and Tehsil Nalagarh, District Solan (HP) (d)
Village
Narsinghpur, Tehsil and District Gurgaon, together with easementary and
appurtenants thereto and Hypothecation of Plant and Machinery installed at
Old Manesar Road, Village Narsinghpur, Gurgaon, Plot No. 91, Sector - 8, IMT.
Manesar, Gurgaon and Village Souri, Swaraghat Road, Tehsil Nalagarh, District
Solan (HP). |
FIXED ASSETS:
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. 49.21 |
|
|
1 |
Rs. 77.75 |
|
Euro |
1 |
Rs. 64.58 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.