|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JPB CHEMICAL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, C Wing, Eastern Court, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Consolidated
Balance Sheet) |
|
|
|
|
Date of
Incorporation : |
02.05.1996 |
|
|
|
|
Com. Reg. No.: |
11-99271 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
R.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1996PTC099271 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ09264D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ6054E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Direct Dyes. |
|
|
|
|
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 104000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as friar. 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. Profit and Loss of the company is not available. |
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. Hiten Gandhi |
|
Designation : |
Director |
|
Contact No.: |
91-9870899910 |
|
Date : |
16.06.2012 |
LOCATIONS
|
Registered Office : |
101, C Wing, Eastern Court, Off Tejpal Road, Vile Parle (East), Mumbai
– 400057, Maharashtra, India |
|
Tel. No.: |
91-22-61371234/ 26710022 (R) |
|
Mobile No.: |
91-9821044769 (Mr. Jitu) 91-9322661263/ 9870899910 (Mr. Hiten) 91-9322597900/ 9870899909 (Mr. Parag) |
|
Fax No.: |
91-22-61371235/ 26151832 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.94, Taloja Industrial Area, MIDC New Chemical Zone, Navade
Phate, Taloja, Taluka-Panvel, District Raigad – 410208, Maharashtra, India |
|
Tel. No.: |
91-22-65769927 |
|
|
|
|
Branch Office : |
1st Floor, 121 City Ling Building, New Vapi Station, Vapi –
306191, Gujarat, India |
DIRECTORS
(AS ON 29.09.2011)
|
Name : |
Mr. Jitendra Dayalji Gandhi |
|
Designation : |
Managing Director |
|
Address : |
2/9, Kashturi, Building No. 80, |
|
Date of Birth/Age : |
01.03.1946 |
|
Date of Appointment : |
28.08.2000 |
|
DIN No.: |
00975010 |
|
|
|
|
Name : |
Mr. Hiten Jitendra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
2/9, Kashturi, Building No. 80, |
|
Date of Birth/Age : |
10.10.1974 |
|
Date of Appointment : |
02.05.1996 |
|
DIN No.: |
00975139 |
|
|
|
|
Name : |
Mr. Parag Jitendra Gandhi |
|
Designation : |
Director |
|
Address : |
2/9, Kashturi, Building No. 80, |
|
Date of Birth/Age : |
18.11.1976 |
|
Date of Appointment : |
28.08.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hiten Gandhi |
|
150000 |
|
Parag Gandhi |
|
150000 |
|
Harsha Gandhi |
|
500 |
|
Jitendra Gandhi (HUF) |
|
500 |
|
Jayaben Gandhi |
|
500 |
|
Jitendra Gandhi |
|
198500 |
|
|
|
|
|
Total |
|
500000 |
(AS ON 05.11.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hiten Jitendra Gandhi |
|
120000 |
|
Parag Jitendra Gandhi |
|
120000 |
|
Harsha Jitendra Gandhi |
|
400 |
|
Jitendra Dayal Gandhi (HUF) |
|
400 |
|
Jitendra Dayal Gandhi |
|
159200 |
|
|
|
|
|
Total |
|
400000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Direct Dyes. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Yes Bank Limited 9th Floor, Nehru
Centre, Discovery of India, Dr.
Annie Besant Road, Worli, Mumbai
– 400018, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ajit P Sutaria and Company Chartered Accountants |
|
Address : |
51/55, |
|
PAN No.: |
AAIPS0414J |
CAPITAL STRUCTURE
(AS ON 29.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs.9.000
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
CONSOLIDATED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.939 |
12.665 |
10.031 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.061) |
0.000 |
|
|
NETWORTH |
25.939 |
17.604 |
11.031 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
91.429 |
57.634 |
42.442 |
|
|
2] Unsecured Loans |
28.723 |
22.086 |
17.541 |
|
|
TOTAL BORROWING |
120.152 |
79.720 |
59.983 |
|
|
DEFERRED TAX LIABILITIES |
0.030 |
0.099 |
0.036 |
|
|
|
|
|
|
|
|
TOTAL |
146.121 |
97.423 |
71.050 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.103 |
4.426 |
3.084 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
26.252 |
7.386 |
0.501 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.061 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.178
|
26.510 |
14.449 |
|
|
Sundry Debtors |
275.884
|
180.802 |
123.184 |
|
|
Cash & Bank Balances |
8.623
|
1.002 |
14.071 |
|
|
Other Current Assets |
1.257
|
0.000 |
5.860 |
|
|
Loans & Advances |
46.790
|
25.216 |
0.102 |
|
Total
Current Assets |
359.732
|
233.530 |
157.666 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor and Other Current Liabilities |
227.951
|
135.241 |
81.734 |
|
|
Provisions |
16.015
|
12.678 |
8.528 |
|
Total
Current Liabilities |
243.966
|
147.919 |
90.262 |
|
|
Net Current Assets |
115.766
|
85.611 |
67.404 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
146.121 |
97.423 |
71.050 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
14.04
|
12.93 |
13.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.58 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
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 |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
No |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from, R. No.2, Shreenath Shopping Center, D J Road, Vile Parle (West),
Mumbai – 400056, Maharashtra, India, to the present address w.e.f. 07.12.2009.
FORM 8:
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
10272214 |
|
Corporate
identity number of the company |
U24110MH1996PTC099271 |
|
Name of the
company |
JPB CHEMICAL
INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
101, C Wing,
Eastern Court, Off Tejpal Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Type of charge |
Immovable property Any interest in immovable property Whole CA & MFA (Both present & future) |
|
Particular of
charge holder |
Yes Bank Limited 9th Floor, Nehru
Centre, Discovery of India, Dr.
Annie Besant Road, Worli, Mumbai
– 400018, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Equitable Mortgage dated 07/02/2012. |
|
Date of
instrument Creating the charge |
07/02/2012 |
|
Amount secured by
the charge |
Rs.115.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest CC -4.5%above
YBLBR prevailing from time to time, Currently YBLBR is10.5%, ROI is 15% p.a. WCDL (S.L of CC)
(E.F)-Same to CC. LC(U/S) (Impt)
(S.L of CC) (E.F)- Comm. 1.25% p.a (Payable upfront inclusive of all charges) Terms of
Repayment CC- Repayable on
Demand. WCDL (S.L of CC)
(E.F) - 60 days. LC (U/S) (Import)
(S.L of CC) (E.F) - Validity: 120 days. Margin CC - 25% on Book
Debts upto 90 days + stocks less Creditors. WCDL (S.L of CC)
(E.F) - 25% on Book Debts less than 90 days + stocks less Creditors. LC (U/S) (Import)
(S.L of CC) (E.F) - 15% margin in the form of FDR in the name of borrower to
be placed with YBL under bank's lien. Extent and
Operation of the charge The facility of
Rs.115.000 Millions is now being secured by the immovable properties. |
|
Short particulars
of the property charged |
Commercial property
located at Plot No.94, Taloja Industrial Estate, New Chemical Zone, MIDC,
Panvel, District Raigadh. Commercial
property located at Room No.2, Shreenath Shopping Centre Premises CHS
Limited, D J Road, Vile Parle (West) Mumbai. Residential
property Located at Flat No.9, 2nd floor, Kasturi Building CHS Limited, 80,
Bapubhai Vashi Road, Vile Parle (West) Mumbai - 400056. Commercial
property located at Office No.101, First Floor, C Wing, Eastern Court Vile
Parle (East) Parleshwar Road, Mumbai - 400056. Commercial
property located at Office No.102, First Floor, C Wing, Eastern Court Vile
Parle (East) Parleshwar Road, Mumbai - 400056. |
|
Date of latest
modification prior to the present modification |
28/03/2011 |
|
Particulars of the
present modification |
The facility of
Rs.115.000 Millions enhanced from Rs. 100.000 Millions is now being secured
by the immovable properties |
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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
2 |
|
--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 |
|
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.