MIRA
INFORM REPORT
|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
JOLLY AGRI EXIM PRIVATE LIMITED (w.e.f.02.07.2010) |
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Formerly Known
As : |
SHREE SAIBABA TRADELINK PRIVATE LIMITED |
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Registered
Office : |
Than Road, Behind Post Office, Chotila, Surendra Nagar – 363520,
Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.04.2008 |
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Com. Reg. No.: |
04-053678 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.830 Millions |
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|
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CIN No.: [Company Identification
No.] |
U51502GJ2008PTC053678 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS18348B |
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PAN No.: [Permanent Account No.] |
AALCS8846C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Cotton Roots and Cotton Seed on Job Work
Basis |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Than Road, Behind Post Office, Chotila, Surendra Nagar – 363520,
Gujarat |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Joliali Vajirali Halani |
|
Designation : |
Director |
|
Address : |
Than Road, Behind Post Office, Chotila, Surendra Nagar – 363520,
Gujarat |
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Date of Birth/Age : |
18.12.1974 |
|
Date of Appointment : |
24.04.2008 |
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DIN No.: |
02096090 |
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Name : |
Mrs. Nilofer Joliali Halani |
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Designation : |
Director |
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Address : |
Than Road, Behind Post Office, Chotila, Surendra Nagar – 363520,
Gujarat |
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Date of Birth/Age : |
08.04.1984 |
|
Date of Appointment : |
24.04.2008 |
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DIN No.: |
02112021 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Joliali Vajirali Halani |
|
226000 |
|
Nilofer Joliali Halani |
|
148000 |
|
Ramzanbhai Vajirali Halani |
|
55000 |
|
Fidahusaenbhai Vajirali Halani |
|
55000 |
|
Jebunben Vajirali Halani |
|
27000 |
|
Sahidabanu Ramzanbhai Halani |
|
36000 |
|
Rizvanabanu Fidahusen Halani |
|
36000 |
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Total |
|
583000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Cotton Roots and Cotton Seed on Job Work
Basis |
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|
|
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Products : |
·
Oil Seeds ·
Pulses and Grains ·
Spices ·
Animal and Bird Fees ·
Raw Cotton |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
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|
Actual
Production |
|
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Cotton Roof |
Kg. |
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|
306.983 |
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Cotton Seeds |
Kg. |
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|
2334721 |
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Oil Cake |
Kg. |
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|
1973617 |
|
Soap Bagdu |
Kg. |
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|
36628 |
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Wash Oil |
Kg. |
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|
286392 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of
India, Commercial Branch, Noble House, Near Jalaram Petrol Pump, Kalawad
Road, Rajkot – 360001, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nanak Punwani and Company (Proprietor Mr. Nanak M Punwani) Chartered Accountants |
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Address : |
433-Star Chambers, Panchnath Main Road, Harihar Chowk, Rajkot –
360001, Gujarat, India |
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PAN.: |
ADPPP6388L |
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Sister Concern : |
Jolly Enterprises |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
583000 |
Equity Shares |
Rs.10/- each |
Rs.5.830
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
5.830 |
1.830 |
1.830 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
53.377 |
15.811 |
15.570 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
59.207 |
17.641 |
17.400 |
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LOAN FUNDS |
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1] Secured Loans |
102.785 |
0.154 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
102.785 |
0.154 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.026 |
0.000 |
0.000 |
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TOTAL |
162.018 |
17.795 |
17.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.435 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
89.422
|
4.413 |
0.000 |
|
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Sundry Debtors |
29.460
|
0.000 |
0.000 |
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Cash & Bank Balances |
3.490
|
0.052 |
0.154 |
|
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Other Current Assets |
0.010
|
0.000 |
0.000 |
|
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Loans & Advances |
37.670
|
21.186 |
17.240 |
|
Total
Current Assets |
160.052
|
25.651 |
17.394 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
27.140
|
7.661 |
0.000 |
|
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Other Current Liabilities |
1.663
|
0.114 |
0.022 |
|
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Provisions |
0.675
|
0.100 |
0.000 |
|
Total
Current Liabilities |
29.478
|
7.875 |
0.022 |
|
|
Net Current Assets |
130.574
|
17.776 |
17.372 |
|
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MISCELLANEOUS EXPENSES |
0.009 |
0.019 |
0.028 |
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TOTAL |
132.018 |
17.795 |
17.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
676.843 |
133.638 |
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Less |
EXPENSES |
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|
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|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
670.902 |
133.288 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.941 |
0.350 |
|
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|
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|
|
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Less |
FINANCIAL
EXPENSES (D) |
3.516 |
0.009 |
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.425 |
0.341 |
NIL |
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.142 |
0.000 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
2.283 |
0.341 |
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Less |
TAX (I) |
0.716 |
0.100 |
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|
PROFIT AFTER TAX
(G-I) (J) |
1.567 |
0.241 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.241 |
0.000 |
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|
BALANCE CARRIED
TO THE B/S |
1.808 |
0.241 |
|
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|
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|
|
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|
Earnings Per
Share (Rs.) |
2.69 |
-- |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.23
|
0.18 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.41
|
1.33 |
-- |
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02 |
-- |
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.23
|
0.46 |
0.00 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.43
|
3.26 |
790.64 |
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) Constitutions 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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two 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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51502GJ2008PTC053678 |
|
Name of the company |
JOLLY AGRI EXIM PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Than Road, Behind Post Office, Chotila, Surendra Nagar – 363520,
Gujarat, India E-mail : nmpunwani@yahoo.co.in
|
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
State Bank of India, Commercial Branch, Noble House, Near Jalaram
Petrol Pump, Kalawad Road, Rajkot – 360001, Gujarat, India E-mail : sbi.04085@sbi.co.in |
|
Nature of instrument creating charge |
Agreement of Hypothecation of Goods And Assets |
|
Date of instrument Creating the charge |
04.11.2010 |
|
Amount secured by the charge |
Rs.200.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest On CC: 5.25% above Base Rate,
Effective Rate 12.85%, Subject to change from time to time. Terms of Repayment On Demand Margin FG :
30% Receivables(Cover 30 Days) :
50% EPC : 10 % Extent and Operation of the charge Charge will operate as first and exclusive charge in favour of Bank
till due repayment of Loan, Interest and any other charges due on it. |
|
Short particulars of the property or asset(s) charged (including complete
address and location of the property) |
Hypothecation of Stocks, Book Debts and all other Current assets of
the Company and more particularly prescribed in the agreement of
Hypothecation of Goods and Assets executed with the Bank. |
Website Details:
Company Profile
Subject is a sister concern of jolly
enterprise. The founders of the company Mr. Ramzan V. Halani and Mr. Jolly V.
Halani believe in doing business with integrity which leads to a strong sustainable
business. Jolly enterprise is a well established group in export of raw cotton
bales with a very good hold over the domestic market. subject as succeeded in
establishing a wider market network of agri cultural products in INDIA and the
world.
In their quest for excellence, they have
always tried and succeeded in maintaining strong customer relationship while
supplying products of high quality. Being a group with diversified product
range, their experience in different categories as well as various markets
benefits their customer in a number of ways from product quality to competitive
prices to meeting delivery deadlines. They do not believe in just customer
satisfaction but rather customer delight. Their ability to satisfy them beyond
expectations enables them to establish long term profitable business
associations with their buyers.
Their professional communication with the
clients enables them to provide what they demand. The close relationship
coupled with high levels of understanding make them the preferred supplier of
agricultural products from INDIA.
Vision
They visualize being one of the biggest
Agricultural products exporters from INDIA. This they shell accomplish by
satisfying their buyers up to their expectation resulting in to multiple
business opportunities
Mission
They wish to achieve their vision through a
well thought Mission
o
Purchase the high quality
products from reliable farmers/suppliers only.
o
Processing such as
Inspection, Analysis, Cleaning Grading and packing all should be of the best
standards.
o
Processing such as
Inspection, Analysis, Cleaning Grading and packing all should be of the best
standards.
o
They will never
compromise on any aspect of processing.
o
They have a best logistic
support that ensures timely shipment and proper delivery of product.
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.53.46 |
|
|
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.