|
Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
NAVJYOT INTERNATIONAL TRADING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
307, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.06.2008 |
|
|
|
|
Com. Reg. No.: |
11-183103 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.16.050 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2008PTC183103 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Wholesalers of Agro Products and Commodities. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 329000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Financial
condition of the company seems to improving. Profitability appears to be low but has improved over years. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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 : |
307, |
|
Tel. No.: |
91-22-26592999 / 333 / 444 |
|
Mobile No.: |
91-9619801611(Abhishek J Bhura) |
|
Fax No.: |
91-22-26591999 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Abhishek J Bhura |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
21/51, Sea |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.07.1982 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.06.2008 |
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Din No.: |
01637692 |
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|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ranka Mahendra kumar Champalal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
307, Balarama Premises, Bandra Kurla Complex, Bandra (E),
Mumbai-400051, |
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|
Date of Birth/Age : |
22.12.1968 |
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Date of Appointment : |
03.06.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
02175377 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Abhishek J Bhura |
|
2990000 |
|
Mahendra kumar Champalal Ranka |
|
10000 |
|
Abhishek J Bhura (HUF) |
|
1000000 |
|
Jayant Kumar Dwipchand Bhura |
|
10650000 |
|
Jayant Kumar Dwipchand Bhura (HUF) |
|
1000000 |
|
Saraladevi J Bhura |
|
400000 |
|
Total |
|
16050000 |
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Wholesalers of Agro Products and Commodities |
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|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|||||||||
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Bankers : |
State Bank of |
|||||||||
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|
|
|||||||||
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Facilities : |
Rs.
In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gupta Saharia and Company Chartered Accountant |
|
Address : |
C-103, Pranay Nagar, |
|
Tel. No.: |
91-22-28337953 |
|
Pan No. : |
AACFG8803D |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
·
Kalpvraksh
Impex Private Limited CIN No.: U51211MH2003PTC139960 ·
Manan
Business Centre Private Limited CIN No.: U70101MH2003PTC140378 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Share |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1605000 |
Equity Share |
Rs.10/- each |
Rs.16.050 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 |
16.050 |
16.050 |
15.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
66.211 |
48.475 |
35.119 |
|
|
4] (Accumulated Losses) |
0.00 |
0.000 |
0.000 |
|
|
NETWORTH |
82.261 |
64.525 |
50.419 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.195 |
43.648 |
9.499 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
9.195 |
43.648 |
9.499 |
|
|
DEFERRED TAX LIABILITIES |
0.017 |
0.005 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
91.473 |
108.178 |
59.921 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.729 |
0.572 |
0.492 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.180 |
1.148 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.269
|
69.339 |
11.979 |
|
|
Sundry Debtors |
10.750
|
8.312 |
7.093 |
|
|
Cash & Bank Balances |
108.425
|
7.389 |
0.724 |
|
|
Other Current Assets |
0.000
|
0.000 |
64.168 |
|
|
Loans & Advances |
106.700
|
58.368 |
0.105 |
|
Total
Current Assets |
288.144
|
143.408 |
84.069 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
121.899
|
30.538 |
24.443 |
|
|
Other Current Liabilities |
66.996
|
5.669 |
0.241 |
|
|
Provisions |
8.866
|
0.950 |
0.188 |
|
Total
Current Liabilities |
197.761
|
37.157 |
24.872 |
|
|
Net Current Assets |
90.383
|
106.251 |
59.197 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.181 |
0.207 |
0.232 |
|
|
|
|
|
|
|
|
TOTAL |
91.473 |
108.178 |
59.921 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
TURNOVER |
18.329 |
90.892 |
38.321 |
|
|
|
|
|
|
|
|
EXPENSES |
1.806 |
96.444 |
37.812 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.026 |
3.076 |
0.509 |
|
|
|
|
|
|
|
|
TAX |
0.009 |
0.952 |
0.191 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.017 |
2.124 |
0.318 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1553.162 |
876.834 |
38.321 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.04 |
1.31 |
0.14 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.14
|
3.38 |
1.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01
|
2.14 |
0.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.05 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.52
|
1.25 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
3.86 |
3.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
FORM 8
|
Corporate
identity number of the company |
U51109MH2008PTC183103 |
|
Name of the
company |
NAVJYOT
INTERNATIONAL TRADING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
307, Email: shyam_rathi@rediffmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10151456 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
State Bank of Email: vikaskumar@sbi.co.in |
|
Nature of
instrument creating charge |
Form
C2-A Supplemental Agreement of Hypothecation of goods and assets for increase
in the overall limit |
|
Date of
instrument Creating the charge |
04.07.2011 |
|
Amount secured by
the charge |
Rs.237.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 20% above base rate or as per Bank's/RBI guidelines issued
from time to time. Terms of
repayment As per sanctioned terms and conditions Margin As per sanctioned terms and conditions Extent and
operation of the charge As per sanctioned terms and conditions |
|
Short particulars
of the property charged (Including location of the property) |
All present
and future goods, book-debts and all other movable assets |
|
Date of last modification prior to the present
modification |
10.07.2010 |
|
Particulars of
the present modification |
Now
by this modification, the charge by way of hypothecation of goods, book debts
and other movable assets of the company stands extended in favour of the Bank
to cover the increased credit limit from Rs. 165.000 Millions to Rs. 237.000
Millions. |
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.55.34 |
|
|
1 |
Rs.86.55 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.