|
Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JSW JAIGARH PORT LIMITED |
|
|
|
|
Registered
Office : |
|
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-166784 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1500.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45205MH2007PLC166784 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ12503B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Providing Shipping Services. |
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|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 13000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having moderate track. 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
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Patil |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-2357-242551/3 |
|
Date : |
26.06.2012 |
LOCATIONS
|
Registered Office : |
Jindal Mansion, 5A, Dr. G. Deshmukh Marg, Mumbai-400026, Maharashtra,
India |
|
Tel. No.: |
91-22-23513001 |
|
Fax No.: |
91-22-23526400 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
PO Jaigarh, District Ratnagiri-415614, Maharashtra, India |
DIRECTORS
As on 30.08.2011
|
Name : |
Mr. Nirmal Kumar Jain |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Suman Play Ground Road, Ville Parle, Mumbai-400057, Maharashtra, India
|
|
Date of Birth/Age : |
03.05.1945 |
|
Date of Appointment : |
06.01.2007 |
|
Din No.: |
00019442 |
|
|
|
|
Name : |
Mr. Bhartula Venkat Jogi Kameshwar Sharma |
|
Designation : |
Vice Chairman |
|
Address : |
1406, 14th Floor, Mount Alps, A Wing, Bhakti Park, Near
Imax Theater, Mumbai-400037, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1963 |
|
Date of Appointment : |
06.01.2007 |
|
Din No.: |
00017758 |
|
|
|
|
Name : |
Mr. Kantilal Narandas Patel |
|
Designation : |
Director |
|
Address : |
12, Yesho Mangal, 64B, Lallubhai Shamal Das Road, Mumbai-400058,
Maharashtra, India |
|
Date of Birth/Age : |
30.05.1951 |
|
Date of Appointment : |
26.06.2007 |
|
Din No.: |
00019414 |
KEY EXECUTIVES
|
Name : |
Mr. Patil |
|
Designation : |
Commercial Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
JSW Infrastructure Limited, India |
|
149999400 |
|
Nirmal Kumar Jain |
|
100 |
|
Bhartula Venkat Jogi Kameshwar Sharma |
|
100 |
|
Balwant Ranka Kumar |
|
100 |
|
Kantilal N. Patel |
|
100 |
|
Bibhu Padarabinda Tripathy |
|
100 |
|
JSW Investments Private Limited, India |
|
100 |
|
|
|
|
|
Total |
|
150000000 |
As on 30.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Shipping Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Punjab National Bank, Large Corporation Branch, Makers Tower E, Cuffe
Parade, Mumbai-400005, Maharashtra, India |
||||||||||||
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|
||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Gupta and Company Chartered Accountants |
|
Address : |
38, Mutual Building, 2nd Floor, Dr. D.N. Road,
Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-40851000 |
|
Fax No.: |
91-22-4085-1015 |
|
E-Mail : |
|
|
Website: |
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|
Pan No.: |
AAASS7702S |
|
|
|
|
Holding Company : |
JSW Infrastructure Limited |
|
|
|
|
Ultimate Holding Company : |
·
JSW Investment Private Limited ·
JSW Infrastructure Fintrade Private Limited |
|
|
|
|
Associates : |
·
JSW Steel Limited ·
JSW Energy Limited (erstwhile JSW Energy
(Ratnagiri) Limited) ·
JSW Cement Limited ·
South West Port Limited ·
JSW Jaigarh Infrastructure Development Private
Limited (JSW JIDPL) ·
JSW Shipyard Private Limited ·
Nalwa Fintrade Private Limited ·
JSW JPL Employee Welfare Trust |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180000000 |
Equity Shares |
Rs.10/- each |
Rs.1800.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000
Millions |
As on 30.08.2011
Authorised Capital : Rs.10000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.3700.000
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 |
1500.000 |
1500.000 |
860.000 |
|
|
2] Share Application Money |
1810.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
42.996 |
12.681 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3352.996 |
1512.681 |
860.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2413.089 |
3602.260 |
1974.254 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2413.089 |
3602.260 |
1974.254 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5766.085 |
5114.941 |
2834.254 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5510.071 |
3225.785 |
58.747 |
|
|
Capital work-in-progress |
80.518 |
2182.251 |
2796.689 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.497
|
0.000 |
0.244 |
|
|
Sundry Debtors |
213.287
|
122.616 |
0.000 |
|
|
Cash & Bank Balances |
97.369
|
180.113 |
163.922 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
131.572
|
110.270 |
58.782 |
|
Total
Current Assets |
469.725
|
412.999 |
222.948 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
130.449
|
155.383 |
201.250 |
|
|
Other Current Liabilities |
161.978
|
550.711 |
40.144 |
|
|
Provisions |
1.802
|
0.000 |
2.736 |
|
Total
Current Liabilities |
294.229
|
706.094 |
244.130 |
|
|
Net Current Assets |
175.496
|
(293.095) |
(21.182) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5766.085 |
5114.941 |
2834.254 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
890.600 |
142.443 |
|
|
|
Other Income |
|
6.729 |
7.124 |
|
|
|
TOTAL (A) |
|
897.329 |
149.567 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Costs |
|
128.371 |
6.360 |
|
|
|
Contract Cost |
|
165.230 |
34.260 |
|
|
|
Employee Related Expenses |
|
37.953 |
0.000 |
|
|
|
Administrative Selling and Other Expenses |
|
29.695 |
7.333 |
|
|
|
Prior Period Expenses |
|
0.000 |
22.561 |
|
|
|
TOTAL (B) |
|
361.249 |
70.514 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
536.080 |
79.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
265.767 |
42.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
270.313 |
36.847 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
233.051 |
21.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
37.262 |
15.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
6.947 |
2.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
30.315 |
12.681 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
12.700 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
43.015 |
12.681 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Berth Hire Charges |
|
43.103 |
12.257 |
|
|
|
Pilotage |
|
17.866 |
4.429 |
|
|
|
Port Dues |
|
9.078 |
1.815 |
|
|
|
Water Supply Charges |
|
0.007 |
0.037 |
|
|
TOTAL EARNINGS |
|
70.054 |
18.538 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
0.000 |
1089.727 |
|
|
|
Stores and Spares |
|
1.895 |
0.000 |
|
|
TOTAL IMPORTS |
|
1.895 |
1089.727 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
|
0.20 |
0.11 |
|
|
|
Diluted |
|
0.16 |
0.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.37
|
8.47 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.18
|
10.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.62
|
0.42 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
2.85 |
2.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
0.58 |
0.91 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
130.449
|
155.383 |
201.250 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
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 three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
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 year 2010-11 was
a watershed year for Jaigarh Port. The Greenfield port of Jaigarh has emerged
as an alternative gateway on the West coast for their country trade. During the
year the Company has successfully commissioned the total mechanized material
handling system and handled 26 vessels and 1.26 million ton of cargo out of
which 0.92 million ton was for JSW Energy. The Port has registered an all time
high handling rate of 50489 MT PWWD (per weather working day).
The total income
for the period stood at Rs. 897.300 Millions (last year Rs. 149.600 Millions).
This includes the commitment charges paid by JSW Energy (Ratnagiri) Limited of
Rs. 457.300 Millions (last year Rs. 96.200 Millions) for the period. The EBIDTA
for the period was Rs. 536.100 Millions (last year Rs. 101.700 Millions).
The Company ended the year with Profit before Tax of Rs. 37.300 Millions
and Profit after Tax of Rs. 30.300 Millions.
FINANCE:
A consortium of
lenders led by Industrial Development and Finance Company Limited (IDFC) has
sanctioned Rs. 5000.000 Millions of term loan for setting up Phase 1 of the
Port. The peak utilization of the loan during the year has been Rs. 4380.000
Millions. However, the Company, keeping in view the rising trend of interest
rates has opted for partial prepayment of the aforesaid loan. The outstanding
loan as on 31st March 2011 is Rs. 2410.000 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10111693 |
|
Corporate identity
number of the company |
U45205MH2007PLC166784 |
|
Name of the
company |
JSW JAIGARH PORT
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Jindal Mansion, 5A, Dr. G. Deshmukh Marg, Mumbai-400026, Maharashtra,
India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Punjab National Bank, Large Corporation Branch, Makers Tower E, Cuffe
Parade, Mumbai-400005, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental deed
of mortgage dated 16th September, 2011 |
|
Date of
instrument Creating the charge |
16.09.2011 |
|
Amount secured by
the charge |
Rs.3150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 10.50% Terms of
Repayment Borrower shall repay
the senior rupee loans for Rs 5000.000 Millions in 40 quarterly installments
the borrower has repaid in full a sum of Rs. 2200.000 Millions pertaining to
two consortium lenders and the outstanding amount pertaining to other lenders
is Rs. 2800.000 Millions. In connection with Rs 350.000 Millions non fund
base limit -maximum of 10 years for EPCG Bank guarantee and maximum upto 12
months for the bank guarantee issued in favour custom dept as a custodial of
cargo. Margin 26.14% Extent and Operation
of the charge As per clause no.
4 of the supplemental deed of mortgage |
|
Short particulars
of the property charged |
As per schedule
ii to the supplemental deed of mortgage |
|
Date of latest
modification prior to the present modification |
30.09.2010 |
|
Particulars of
the present modification |
Additional
immovable property charged in favour of security trustee for the outstanding
loan of Rs. 2800.000 Millions (original loan of Rs. 5000.000 Millions repaid Rs.
2200.000 Millions to two lenders in full) and in addition to it credit
facility of Rs 350.000 Millions in form of bank guarantee Rs 250.000 Millions
and letter of credit Rs 100.000 Millions vide supplemental mortgage deed
dated 16/09/2011. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Guarantees given
by Banks on behalf of Company: |
|
|
|
(i) Customs duty against EPCG obligation |
242.669 |
242.832 |
|
(ii) Construction Guarantee to Maharashtra Maritime Board |
0.000 |
50.000 |
|
Total |
242.669 |
292.832 |
FIXED ASSETS:
·
Leasehold Land
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Temporary Sheds
·
Building
PRESS RELEASE:
JSW JAIGARH PORT
INAUGURATED ON AUGUST 22, 2009.
Mumbai, August 24, 2009: Mr. Narayan Rane, Hon’ble Minister for
Industries and Ports, Government of Maharashtra inaugurated the JSW Jaigarh Port
at a grand ceremony held on August 22, 2009 at Jaigarh in Maharashtra. With
this, the JSW Group has successfully ventured into the Greenfield port
development. JSW Infrastructure Limited, the infrastructure vertical of JSW
Group has developed the Jaigarh Port as all-weather, deep-water multi-commodity
port.
While addressing
the gathering of more than 2500 people, Mr. Sajjan Jindal, Vice Chairman and
Managing Director of JSW Group said, “We always have the vision to create a
world class port infrastructure in the country. We are delighted with the
commissioning of Jaigarh Port. This is a historic day for the people in this
region. I am grateful to the Government of Maharashtra for supporting this
project.”
Located in the
protected surrounding of Jaigarh in Dhamankhot bay on the western coast of
India, JSW Jaigarh port is a deep-water port. Apart from containerized cargo,
the Port has the capacity to handle 10 Million tons per annum in phase-1, which
will be increased to 20 Million tons per annum in the phase-II. The Port will
cater to the coal requirements of the power plants and will also handle
additional cargo including coal, bauxite, raw sugar, ash, cement, iron ore,
fertilizers, edible oil, molasses and completely / semi knocked down kits. The
Port has undertaken all the necessary precautions in maintaining pollution
levels to a minimum prescribed level.
Mr. Narayan Rane,
Hon’ble Minister for Industries and Ports, Government of Maharashtra while
complementing JSW Group for its achievement said, “I thank JSW Group for
choosing Konkan area for developing the port. It is the maritime marvel. This
will help to bring industrial development in this region.”
Infrastructure and logistics sums up JSW Group’s diversification
programme. JSW Infrastructure has been supporting the Group’s maritime logistic
needs by operating modern, mechanized bulk and general cargo berths at Mormugao
Port in Goa and further looking after the import and export requirements. These
successful operations have encouraged the Group to enter into maritime business
commercially. One of its Group Company “South West Port Limited” has developed
Berth no. 5A and 6A in Mormugao Harbour on BOOT Basis and has successfully
handled 20 million tonne of cargo.
Capt. BVJK Sharma, Joint Managing Director and CEO, JSW Infrastructure
Limited, said “JSW Jaigarh Port is the deep-water and equipped with modern
technology. It is the second largest port of such magnitude in Maharashtra in
terms of draught and ability to handle ships bigger than panamax vessels and
will cater to the growing needs of the business community in this region.
In the phase-1, the Port is equipped with two berths of 550-meter quay
length for handling 105,000 DWT vessels bulk cargo. The Port is able to handle
bulk, general and container cargo using ships gear. In the phase –1, JSW
Infrastructure has invested Rs. 6770.000 Millions. In the month of August, MV
Zhen Hua-4, the first vessel berthed in the Jaigarh Port.
JSW Jaigarh Port is designed to handle Capesize vessels but t in the
first phase; it is being dredged to handle Panamax vessels with a draft of 14
mtr. The Company has ambitious plans to develop this Port. In phase-II, it
would be capable of handling 180,000 DWT capacity vessels with draft of 18 mtr.
Subsequently five more berths spanning 1500 mtr for handling multiple cargos
will be constructed along with adequate back up area and modern container
handling equipments. Further, rail, road and inland waterway projects are being
taken up simultaneously to propel actively. The Company is pursuing with the
Government of Maharashtra to construct a four-lane road connecting it to the
National Highway 16. Mr. Jindal believes, “True development can only come in if
the infrastructure of the area improves”.
JSW Group always believes in the ‘inclusive growth’. It is the basic
philosophy of the Group. The Group has taken several steps to ensure the
prosperity of the people in this region by encouraging their participation in
every social activity. The core center of the development is the human being
and all activities take shapes around it. Presently, The Group is focusing on
education, health, infrastructure development of the schools and villages by
using Participatory Rural Appraisal Method and empowerment of women by forming
Self-Help Groups.
About JSW Group:
JSW Group is a part of USD 8 billion O. P. Jindal Group. Under the
dynamic leadership of Mr. Sajjan Jindal, JSW Group is USD 3.7 billion
enterprise with interests across various core economic sectors – Steel, Energy,
Cement, Aluminium, Minerals, Infrastructure and logistics, IT and is now flying
high world over.
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.57.07 |
|
|
1 |
Rs.88.95 |
|
Euro |
1 |
Rs.71.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.