MIRA
INFORM REPORT
|
Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAUNTY OVERSEAS PRIVATE LIMITED |
|
|
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Registered
Office : |
18/89 Road, Sanwley Prasad, Tundla, Uttar Pradesh – 283204 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.10.2003 |
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Com. Reg. No.: |
20 – 028004 |
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Capital Investment
/ Paid-up Capital : |
Rs.2.500 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U36911UP2003PTC028004 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AGRJ10297A |
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PAN No.: [Permanent Account No.] |
AABCJ3519R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Glass Beads |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 40000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. Reetesh Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9997018062 |
|
Date : |
03.01.2012 |
LOCATIONS
|
Registered Office : |
18/89 Road, Sanwley Prasad, Tundla, Uttar Pradesh – 283204 |
|
Tel. No.: |
91-5612-229310 |
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Mobile No.: |
91-9997018062/ 8909060525 (Mr. Reetesh Gupta) |
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Fax No.: |
91-562-2640525 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
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Ware House/ Corporate Office/ Factory
: |
C-54-55, |
|
Tel. No.: |
91-562-2640525 |
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Fax No.: |
91-562-2640525 |
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Area : |
14000 Sq Ft |
|
Location : |
Owned |
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|
|
|
Factory : |
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|
Area : |
15000 Sq Ft |
|
Location : |
Owned |
DIRECTORS
As on 24.09.2011
|
Name : |
Mr. Manish Kumar Gupta |
|
Designation : |
Director |
|
Address : |
H.N. 58, Sector 9, A.V Colony, Sikandra, |
|
Date of Birth/Age : |
23.07.1969 |
|
Date of Appointment : |
22.10.2003 |
|
DIN No.: |
00229797 |
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|
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Name : |
Mr. Surendra Nath Gupta |
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Designation : |
Director |
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Address : |
18/89, |
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Date of Birth/Age : |
03.02.1945 |
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Date of Appointment : |
22.10.2003 |
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DIN No.: |
00230089 |
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|
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Name : |
Mr. Vikas Gupta |
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Designation : |
Director |
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Address : |
18/89, |
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Date of Birth/Age : |
02.01.1971 |
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Date of Appointment : |
22.10.2003 |
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DIN No.: |
00230167 |
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|
|
|
Name : |
Mr. Reetesh Gupta |
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Designation : |
Director |
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Address : |
E-38, Rangoly Colony, Sikandra, |
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Date of Birth/Age : |
21.01.1973 |
|
Date of Appointment : |
22.10.2003 |
|
DIN No.: |
00230338 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Nath Gupta |
|
24300 |
|
Manish Kumar Gupta |
|
47500 |
|
Vikas Gupta |
|
42500 |
|
Reetesh Gupta |
|
37500 |
|
Vivek Gupta |
|
5000 |
|
Pushpa Lata Gupta |
|
25000 |
|
Pratibha Gupta |
|
25000 |
|
Babita Gupta |
|
14400 |
|
Neeru Gupta |
|
14400 |
|
Renu Gupta |
|
14400 |
|
TOTAL |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Glass Beads |
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Products : |
Glass Beads – 70181020 (ITC No.) |
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Exports : |
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Products : |
Glass Beads |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Wholesalers
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P.G. and Associates Chartered Accountant |
|
Address : |
B-70, Bhagwan Nagar, Balkeshwar, |
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PAN.: |
ACQPG0397Q |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
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 |
2.500 |
2.500 |
0.960 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.536 |
3.650 |
0.301 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.036 |
6.150 |
1.261 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.329 |
(0.338) |
0.538 |
|
|
2] Unsecured Loans |
0.000 |
1.977 |
2.801 |
|
|
TOTAL BORROWING |
0.329 |
1.639 |
3.339 |
|
|
DEFERRED TAX LIABILITIES |
(0.013) |
0.010 |
0.022 |
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|
|
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|
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TOTAL |
10.352 |
7.799 |
4.622 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.254 |
5.286 |
5.586 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
1.315 |
0.666 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.848
|
5.014 |
3.831 |
|
|
Sundry Debtors |
1.184
|
1.368 |
0.550 |
|
|
Cash & Bank Balances |
0.470
|
0.934 |
0.283 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.269
|
0.198 |
0.295 |
|
Total
Current Assets |
6.771
|
7.514 |
4.959 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.082
|
4.349 |
5.272 |
|
|
Other Current Liabilities |
0.729
|
0.606 |
0.649 |
|
|
Provisions |
0.177
|
0.712 |
0.002 |
|
Total
Current Liabilities |
3.988
|
5.667 |
5.923 |
|
|
Net Current Assets |
2.783
|
1.847 |
(0.964) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
10.352 |
7.799 |
4.622 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
30.102 |
23.980 |
9.612 |
|
|
|
Other Income |
0.045 |
0.307 |
1.076 |
|
|
|
TOTAL |
30.147 |
24.287 |
10.688 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
23.658 |
|
|
|
|
|
Administrative Expenses |
|
|
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|
Advertising Expenses |
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|
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TOTAL |
23.658 |
19.379 |
11.093 |
|
|
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|
PROFIT/(LOSS)
BEFORE TAX |
6.489 |
4.908 |
(0.405) |
|
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|
|
|
|
|
|
|
Less |
TAX |
2.020 |
0.974 |
0.28 |
|
|
|
|
|
|
|
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|
|
PROFIT/(LOSS) AFTER
TAX |
4.469 |
3.934 |
(0.433) |
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|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.168 |
3.936 |
6.167 |
|
|
|
|
|
|
|
|
|
Earnings/(loss)
Per Share (Rs.) |
17.88 |
15.74 |
(1.62) |
|
Expected Sales (2011-2012) : Rs.30.000 Millions
The above information has been parted by Mr. Reetesh Gupta
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.82
|
16.20 |
(4.05) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.56
|
20.47 |
(4.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
49.82
|
38.34 |
(3.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65
|
0.80 |
(0.32) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.43
|
1.19 |
7.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.33 |
0.84 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
-- |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
No |
|
No |
|
Yes |
|
Yes |
|
No |
|
No |
|
Yes |
|
Yes |
|
Yes |
|
-- |
|
-- |
|
Yes |
|
Yes |
|
-- |
|
-- |
|
No |
|
-- |
|
-- |
|
-- |
FINANCIAL RESULTS
The company’s total revenue for the year was Rs.30.102 millions
(previous year Rs.23.980 millions). Net Profit for the year was Rs.6.489 millions
(previous year Rs.4.908 millions).
The downfall in export market still continues. Their export sales
decreased by 45% from Rs.3.936 millions in 2009-10 to Rs.2.168 millions
Due to their increased focus on domestic market, their domestic sales increased
by 40% from Rs.20.044 in 2009-10 to Rs.27.971 millions
FORM 8
|
Corporate
identity number of the company |
U36911UP2003PTC028004 |
|
Name of the
company |
JAUNTY OVERSEAS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
18/89 Road, Sanwley Prasad, Tundla, Uttar Pradesh – 283204, Email: acsanilgupta@rediffmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10115863 |
|
Type of charge |
|
|
Particular of
charge holder |
Canara Bank, Overseas Branch, Email: jkscoknp@gmail.com |
|
Nature of
instrument creating charge |
Letter of Renewal
(NF-493) |
|
Date of
instrument Creating the charge |
16.12.2010 |
|
Amount secured by
the charge |
Rs.1.500 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest:
OCC - @ 13.50%
per annum with monthly rests. FDB/FBE- @ 9.50%
per annum with monthly rests. Terms of Repayment: Working Capital -
Repayable on demand Margin: 25% on OCC Extent and
Operation of charge: he Company's
movable and immovable properties as mentioned hereunder (As per column No.15)
are hypothecated and mortgaged to secure
following credit facilities aggregating to Rs.1.500 millions granted
by the Bank to the Borrower:- 1. Open Cash
Credit - Rs. 1.000 Millions 2. FDB/FBE - Rs. 0.500 Millions TOTAL Rs. 1.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
all kind of stock used in manufacturing of handicrafts such as Glass beads,
Brass Hardware ,Wooden Hardware including raw material, semi finished goods
and finished goods all present and future. Hypothecation of
all of the Borrower's present and future book debts, outstanding monies,
receivables, claims, bills etc. of the Borrower Equitable
Mortgage of Factory Land and Building situated at C-54 and C-55 at EPIP
Shastripuram Agra. |
|
Particulars of
the present modification |
The credit
facilities granted by the Bank have now been enhanced from Rs.1.000 millions
to Rs.1.500 millions by sanction FDB/FBE limit of Rs.0.500 millions
Therefore, total amount of charge secured against hypothecation of stocks,
book debts etc. and equitable mortgage of immovable property as per details
mentioned in column No.15 above has now been enhanced from Rs.1.000 millions
to Rs.1.500 millions |
TRADE REFERENCES
- Transom
- Optical
FIXED ASSETS
- Land
- Building
- Computers
- Office Equipment
- Vehicles
- Electric Fitting and Installation
- Fire Fitting Systems
- Plant and Machinery
- Furniture and Fixture
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.53.24 |
|
|
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
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 |
6 |
|
--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 |
|
46 |
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.