MIRA INFORM REPORT

Report Date :

13.07.2012

IDENTIFICATION DETAILS

Name :	JINTAN EXPORTS PRIVATE LIMITED JINTAN INTERNATIONAL (A DIVISION OF JINTAN EXPORTS PRIVATE LIMITED)
Registered Office :	16/1 A, Chakramberia Lane, Ground Floor, Kolkata-700020, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.01.1985
Com. Reg. No.:	21-038419
Capital Investment / Paid-up Capital :	Rs. 5.000 Millions
CIN No.: [Company Identification No.]	U51909WB1985PTC038419
TIN No.:	09365900466
PAN No.: [Permanent Account No.]	AAACJ6364R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Trader of Brass builders hardware, builders and construction hardware, bathroom and toilet accessories/ fittings, door accessories, hinges, locks, knobs, lever handle, pull handle, door knockers, brass door knobs, door handles, cabinet knobs, cabinet pulls, cabin hooks, brass coat hooks, key holes
No. of Employees :	90 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 129000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The profitability of the company appears to be very low. However, 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 caution.

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

INFORMATION PARTED BY

Name :	Mr. Jinendra Kumar Jain
Designation :	Director
Contact No.:	91-9811100900
Date :	09.07.2012

LOCATIONS

Registered Office :	16/1 A, Chakramberia Lane, Ground Floor, Kolkata-700020, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9811100900 (Mr. Jinendra Kumar Jain)
Fax No.:	Not Available
E-Mail :	jintan@jintaninternational.com
Website :	www.jintaninternational.com
Operational Office / Factory :	B-66, Sector-57, Noida - 201301, Uttar Pradesh, India
Tel. No.:	91-120-4258002/05
Fax No.:	91-120-4258005
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Jinendra Kumar Jain
Designation :	Director
Address :	19, Ballygunj, Circular Road, Kolkata-700019, West Bengal, India
Date of Birth/Age :	22.12.1949
Date of Appointment :	11.01.2006
DIN No.:	00204324
Name :	Mrs. Tanuja Jain
Designation :	Director
Address :	19, Ballygunj, Circular Road, Kolkata-700019, West Bengal, India
Date of Birth/Age :	21.08.1956
Date of Appointment :	16.08.2011
DIN No.:	00204400

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Tanuja Jain	10100
Jinendra Kumar Jain	4480
J K Jain (HUF)	21100
Gaurav Jain	510
Arihant Jain	4810
Jintan Overseas, India	9000
TOTAL	50000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	18.00
Directors or relatives of Directors	82.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Trader of Brass builders hardware, builders and construction hardware, bathroom and toilet accessories/ fittings, door accessories, hinges, locks, knobs, lever handle, pull handle, door knockers, brass door knobs, door handles, cabinet knobs, cabinet pulls, cabin hooks, brass coat hooks, key holes
Exports :
Countries :	All Over the World
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

GENERAL INFORMATION

Suppliers :

· Ajmani Chemicals

· Alcozin Alloy Casting

· Airtel Broadband

· Ambey Tape Company

· Aapun Metal Industries

· Arshya Services

· Bandex Packaging Private Limited

· Best Packaging

· Brasses King of India

· Builder and Hardware Manufacturing Company

· C J International

· D I Packaging Private Limited

· D K Sales

· Expert Electric Works

· Global Packaging Systems

· Gold Star Instrumentation

· R S Steel

· Metal Line

· Om Printers

· Safe Express

· Samirika Export

· Suzu Steel India

· Jyoti Metal Finishing

Customers :

Retailers and Others

No. of Employees :

90 (Approximately)

Bankers :

· ICICI Bank

· Indian Overseas Bank, 14-15, Farm Bhawan, Nehru Place, New Delhi-110019, India

· Punjab National Bank

· State Bank of India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Indian Overseas Bank-N.Place (Secured against Stock and Bills both present and future)
Packing Credit Limit	21.835	19.997
Bill Purchased	1.434	7.552
Car Loans
ICICI Bank - (Passat Car)	1.275	1.624
ICICI Bank - (Honda City)	0.227	0.374
Against property of Director Mrs. Tanuja Jain
Religare Finvest Limited	49.309	0.000
Total	74.080	29.547
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
India Bulls Limited	0.605	1.500
Reliance Capital Limited	0.158	0.292
GE Money Financial Services	0.000	0.195
Standard Chartered Bank	0.000	49.395
Kotak Mahindra Limited	0.000	0.292
Smt Tanuja Jain	0.807	0.000
Total	1.570	51.674

Banking Relations :	--
Auditors :
Name :	J P S And Company Chartered Accountant
Address :	201, Pushpa Complex, T-1512/1, Wazir Nagar, Kotla Mubarakpur, New Delhi-110003, India
Pan No.:	AADFJ1745L

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs. 5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		5.000	5.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		27.270	26.946
4] (Accumulated Losses)		0.000	0.000
NETWORTH		32.270	31.946
LOAN FUNDS
1] Secured Loans		74.080	29.547
2] Unsecured Loans		1.570	51.674
TOTAL BORROWING		75.650	81.221
DEFERRED TAX LIABILITIES		2.006	2.072
TOTAL		109.926	115.239
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.810	19.436
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	30.817	40.255
	Sundry Debtors	22.715	18.283
	Cash & Bank Balances	0.812	4.020
	Other Current Assets	0.000	0.000
	Loans & Advances	56.520	38.574
Total Current Assets		110.864	101.132
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.690	2.925
	Other Current Liabilities	6.731	2.309
	Provisions	0.327	0.095
Total Current Liabilities		18.748	5.329
Net Current Assets		92.116	95.803
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		109.926	115.239

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	65.299
		Other Income	16.580
		TOTAL	81.879
Less	EXPENSES
		Office Expenses	81.282
		Administrative Expenses
		Advertising Expenses
		TOTAL	81.282
	PROFIT BEFORE TAX		0.597
Less	TAX		0.273
	PROFIT AFTER TAX		0.324
	Earnings Per Share (Rs.)		6.47

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.40	NA
Net Profit Margin (PBT/Sales)	(%)	0.91	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.46	NA
Return on Investment (ROI) (PBT/Networth)		0.02	NA
Debt Equity Ratio (Total Liability/Networth)		2.99	2.77
Current Ratio (Current Asset/Current Liability)		5.91	18.98

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions of the firm	Yes
4. Premises details	No
5. Type of Business	Yes
6. Line of Business	Yes
7. Promoter’s background	Yes
8. No. of Employees	Yes
9. Name of person contacted	Yes
10. Designation of contact person	Yes
11. Turnover of firm for last one years	Yes
12. Profitability for last one years	Yes
13. Reasons for variation <> 20%	-------
14. Estimation for coming financial year	No
15. Capital in the business	Yes
16. Details of sister concerns	No
17. Major suppliers	Yes
18. Major customers	No
19. Payments terms	Yes
20. Export / Import details	Yes
21. Market information	------
22. Litigations that the firm / promoter involved	------
23. Banking Details	Yes
24. Banking facility details	Yes
25. Conduct of the banking account	------
26. Buyer visit details	------
27. Financials, if provided	Yes
28. Incorporation details, if applicable	Yes
29. Last accounts filed at ROC	Yes
30. Major Shareholders, if available	Yes

FINANCIAL RESULTS

The company has made a Profit of Rs. 0.333 Million after tax during the year. The company is Exporting Wrought Iron products and during the year the purchase price of raw material around the world went up and the price of the dollar also came down. The company could not negotiate better prices because the parties to whom the goods were being exported had placed their orders at a rate comparable with the earlier year’s rate. It is expected that economic scenario will change and the company would do better in the next year.

FIXED ASSETS

· Land

· Office Building

· Factory Building

· Furniture and Fixture

· Cycle

· Car

· Scooter

· Electric Fittings

· Dies and Tools

· Plant and Machinery

· Weighing Machine

· Crate and Tray

· Generator

· Air Conditioner

· Flat

· Office Equipments

· Fax

· Cooler

· Typewriter

· Invertors

· Scanner

· UPS

· Photocopies

· Cellular Phone

· Printer

· Fan

· Refrigerator

· Computer

· Plating Plant

· Printing Cylinder

· Office 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. 55.69
UK Pound	1	Rs. 86.28
Euro	1	Rs. 68.14

INFORMATION DETAILS

Information Gathered by :	----
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		34

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.