|
Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
JABIL CIRCUIT INDIA PRIVATE LIMITED JABIL CIRCUIT TECHNOLOGY INDIA PRIVATE LIMITED AMALGAMATED WITH JABIL
CIRCUIT INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PCB CONTRACT MANUFACTURING SERVICES ( |
|
|
|
|
Registered
Office : |
17th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.08.2011 |
|
|
|
|
Date of
Incorporation : |
27.08.2002 |
|
|
|
|
Com. Reg. No.: |
11-136997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4002.661 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH2002PTC136997 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04704A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP7114K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of all type of Electric Products, Consumer
Electrics, Medical Electronics, IT Equipments. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
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 14033412 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. There appears
to be some accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Purvi |
|
Designation : |
Finance Manager |
|
Date : |
15.05.2012 |
LOCATIONS
|
Registered Office : |
17th Floor, |
|
Tel. No.: |
91-22-66425687/66559701/2/3/4 / 66370031/32/ 66425706 |
|
Fax No.: |
91-22-66559705 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
5th and 17th Floor, World Trade Centre
І, Cuffe Parade, Mumbai – 400
005, |
|
E-Mail : |
|
|
|
|
|
Factory : |
B-26, MIDC, Ranjangaon, Taluka Sirur, District Pune – 412 220, |
|
Tel. No.: |
91-2138-562025 |
|
Fax No.: |
91-2138-560759 |
|
Area : |
(Land) 79786 Sq. fts |
|
|
|
|
World H.Q.: |
10560, |
|
Tel. No.: |
7275779749 |
DIRECTORS
AS ON 26.02.2011
|
Name : |
Mr. Forbes Ian James Alexander |
|
Designation : |
Director |
|
Address : |
1604, |
|
Date of Appointment : |
Appointed as Additional Director on January 31, 2003.
Confirmed as Director in the AGM of February 25, 2004. |
|
DIN No.: |
00195042 |
|
|
|
|
Name : |
Mr. Meheryar
Kakhushard Dastoor |
|
Designation : |
Director |
|
Address : |
1918, Lago Vista Boulevard,
Parlm Harbor Florida-346885, US |
|
Date of Birth/Age : |
20.10.1965 |
|
Date of Appointment : |
Appointed as Additional Director on September 28, 2006.
Confirmed in the AGM of May 31, 2007. |
|
DIN No.: |
00614734 |
|
|
|
|
Name : |
Mr. Manishi Virendra
Pathak |
|
Designation : |
Alternate
Director (Alternate to Mr. Forbes Ian James Alexdander) |
|
Address : |
C-27, Rashmi Apartments, Harsh Vihar, Pitampura, |
|
Date of Birth/Age : |
23.02.1969 |
|
Date of Appointment : |
01.03.2004 |
|
DIN No.: |
00074992 |
|
|
|
|
Name : |
Mr. Anoop Kumar
Mehrotra |
|
Designation : |
Director |
|
Address : |
10-B, Tower D, |
|
Date of Appointment : |
Appointed as Additional Director on October 10,2 008.
Confirmed as a Director on February 28, 2009. |
|
DIN No.: |
02353302 |
|
|
|
|
Name : |
Mr. John Peter
Lovato |
|
Designation : |
Director |
|
Address : |
AV Bois Du Dimanche 21 A, |
|
Date of Appointment : |
Appointed as Additional Director on January 2, 2009.
Confirmed as a Director on February 28, 2009. |
|
DIN No.: |
02400960 |
|
|
|
|
Name : |
Mr. Otto
Johannnes Theodorus Maria Bik (Dutch) |
|
Designation : |
Director |
|
Address : |
Tweeriten 30,
5673 TV Nuenen, The |
|
Date of Appointment : |
Appointed as Additional Director on January 2, 2009.
Confirmed as a Director on February 28, 2009. |
|
DIN No.: |
02373775 |
|
|
|
|
Name : |
Mr. Sergio Alonso
Cadavid |
|
Designation : |
Director |
|
Address : |
14749, |
|
Date of Appointment : |
Appointed as Additional Director on December 12, 2006.
Confirmed as a Director on February 10, 2007. |
|
DIN No.: |
01052401 |
|
|
|
|
Name : |
Mr. S
Purushottuman K Swaminathan |
|
Designation : |
Additional
Director |
|
Address : |
2701, Eldora
Apartments, B Wing, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra,
India |
|
Date of Appointment : |
Appointed as Additional Director on June 18, 2009.
Confirmed as a Director on February 27, 2010. |
KEY EXECUTIVES
|
Name : |
Ms. Hansa Vaidya |
|
Designation : |
Company Secretary |
|
Address : |
507/B Ashoka Apartments, |
|
Date of Appointment : |
07.01.2008 |
|
PAN No.: |
ADTPV7733M |
|
|
|
|
Name : |
Mr. Gopinath |
|
Designation : |
DGM Corporate |
|
|
|
|
Name : |
Mr. Desai |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.02.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Jabil ( |
|
334264181 |
|
Jabil Circuit Limited, |
|
1931 |
|
Total
|
|
334266112 |
AS ON 26.02.2011
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Jabil ( |
|
66000000 |
|
Total
|
|
66000000 |
AS ON 26.02.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all type of Electric Products, Consumer
Electrics, Medical Electronics, IT Equipments. |
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Products : |
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Exports : |
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Products : |
Consumer Electronics etc. |
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Countries : |
v
USA v
Hong Kong v
Malaysia |
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|
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Imports : |
|
||||||||
|
Products : |
v
Raw Materials |
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Countries : |
v
UAE v
UK v
China v
European Countries |
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|
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Terms : |
|
||||||||
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Selling : |
L/C, Cash |
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|
||||||||
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Purchasing : |
L/C, Cash |
PRODUCTION STATUS (AS ON 31.08.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
ICs (DTA) |
Nos. |
11343 |
|
ICs (EHTP) |
Nos. |
3320206 |
|
Particulars |
Unit |
Actual
Production |
|
ICs (DTA) |
Nos. |
4540 |
|
ICs (EHTP) |
Nos. |
2489704 |
*Installed capacity is as certified by the management and has
not been verified by the auditor as this is a technical matter.
GENERAL INFORMATION
|
Suppliers: |
Ecostar |
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|
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|
Customers : |
Broadcom Singapore Pte Limited |
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|
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|
No. of Employees : |
2500 (Approximately) |
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|
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|
Bankers : |
Citi Bank , D.N. Road, Fort, Mumbai - 400 001, Maharashtra, India |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
448 Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, |
|
Tel. No.: |
91-22-30440800 |
|
Fax No.: |
91-22-30440900 |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company
: |
Jabil ( |
|
|
|
|
Ultimate Parent
Company : |
Jabli Circuit Inc., USA |
|
|
|
|
Fellow
Subsidiaries : |
· Jabil Circuit Inc –JTS · Jabil Circuit Inc. - US-St. Petersburg, FL (Florida) · Jabil Circuit SDN BHD (Malaysia-Penang) · Jabil Circuit Inc. - US-Auburn Hills, MI (Michigan) · Jabil do Brasil Industria Electroelectronica (Belo) · Jabil Circuit (Guangzhou) Limited - (China Huangpu) · Jabil Circuit Technology India Private Limited · Jabil Circuit Limited (Scotland-Livingston and Ayr) · Jabil Circuit Inc. - US-San Jose, CA (California) · Jabil Circuit (Singapore) Pte. Ltd. fka(CMS Singapore) · Jabil Circuit (Shanghai) Co Limited · Jabil Circuit, SAS (Brest) · Jabil Circuit Inc.-US-Billerica, MS (Massachusetts) · Jabil Circuit Hungary Limited. (Tiszaujavaros) · Celetronix India Private Limited (CIPL-Mumbai) · Jabil Circuit Inc. - Mexico-(Chihuahua) · Jabil Circuit Inc. - Mexico-(Guadalajara) · Jabil Circuit Italia, S.r.l. (Marcianise/Caserta) · Jabil do Brasil Industria Electroelectronica (Manaus) · Jabil Circuit (Wuxi) Limited · Jabil Luxembourg Mfg Sarl - (Guadalajara) · Jabil Circuit (Beijing) Limited · Jabil Circuit (Panyu) Limited -China Huangpu · Green Point Precision (Malaysia) Sdn Bhd-GPP · GreenPoint (Tianjin) Electronic Technology · GreenPoint (Suzhou) Technology Co. Limited – GPS · Taiwan Green Point Enterprises Co Limited (TGP) · Westing GreenPoint (Tianjin) Plastic Co. Limited – WGT · Jabil Circuit Inc –Reynosa · Jabil Defense and Aerospace LLC · Jabil Hungary LP Services LLC · JABIL CIRCUIT HUNGARY LTD · Jabil Circuit Austria GmbH (Vienna) · Jabil Circuit Inc.-US-Memphis, TN (Memphis) · Jabil Circuit Shanghai JTS · Jabil Circuit Ukraine Ltd. (Ukraine-Uzhgorod) · Jabil Global Services Netherland B.V.(Amsterland) · Jabil Memphis · Jabil Circuit China Limited · Jabil Circuit Belgium N.V. - (Hasselt) · AMS Texas(Mc Allen) Division Of Jabil Circuit of Texas LP (JGS-Texas) · Jabil Global Services (Shanghai) · Jabil Global Services - St. Petersburg, FL · Jabil Circuit of Texas, LP (India Pune HUB) · Jabil Sdn Bhd. (Malaysia - Penang IT) · Jabil Circuit Belgium N.V. - (Hasselt) France · Jabil Circuit Inc. - Tempe, AZ (Tempe) · Division of Jabil Circuit of Texas, LP (JGS-Round Rock) · Jabil Global Services Szombathely (Hungary) · Jabil Circuit (Singapore) Pte. Ltd – IMAC ·
Jabil Vietnam Co. Limited |
CAPITAL STRUCTURE
AS ON 26.02.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
434000000 |
Equity Shares |
Rs.10/- each |
Rs.4340.000 millions |
|
66000000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs.660.000 millions |
|
|
Total
|
|
Rs.5000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
334266112 |
Equity Shares |
Rs.10/- each |
Rs.3342.661
millions |
|
66000000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs.660.000
millions |
|
|
Total
|
|
Rs.4002.661 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.08.2011 |
31.08.2010 |
31.08.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4002.661 |
4002.661 |
3809.694 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(494.308) |
(1433.072) |
(2392.901) |
|
|
NETWORTH |
3508.353 |
2569.589 |
1416.793 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
580.500 |
814.000 |
2336.213 |
|
|
TOTAL BORROWING |
580.500 |
814.000 |
2336.213 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4088.853 |
3383.589 |
3753.006 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2013.583 |
2212.255 |
2562.722 |
|
|
Capital work-in-progress (Including Capital Advances) |
16.601 |
9.408 |
51.444 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1881.001
|
2234.358
|
2661.597
|
|
|
Sundry Debtors |
2969.118
|
2860.610
|
1661.945
|
|
|
Cash & Bank Balances |
875.459
|
37.332
|
26.797
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
758.277
|
415.890
|
418.444
|
|
Total
Current Assets |
6483.855
|
5548.190
|
4768.783 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4267.260
|
4219.040
|
3529.043
|
|
|
Other Current Liabilities |
18.697
|
4.039
|
5.820
|
|
|
Provisions |
139.229
|
163.185
|
95.080
|
|
Total
Current Liabilities |
4425.186
|
4386.264
|
3629.943
|
|
|
Net Current Assets |
2058.669
|
1161.926
|
1138.840
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4088.853 |
3383.589 |
3753.006 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.08.2011 |
31.08.2010 |
|
|
Net Sales |
|
14899.983 |
17679.918 |
|
|
|
|
|
|
|
|
Expenditure including Depreciation and Financial Charges |
|
14076.497 |
16584.405 |
|
|
|
|
|
|
|
|
Profit / (Loss) before Taxation |
|
938.764 |
1095.464 |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
403.197 |
438.451 |
|
|
|
|
|
|
|
|
Interest on term loans |
|
0.000 |
17.717 |
|
|
|
|
|
|
|
|
Other interest |
|
39.260 |
61.276 |
|
|
|
|
|
|
|
|
Profit/(Loss) after Taxation |
|
938.764 |
1095.464 |
|
|
|
|
|
|
|
|
Profit/(Loss) carried to Balance Sheet |
|
494.308 |
1433.072 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
NA |
16.957 |
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
NA |
2.74 |
|
|
PARTICULARS |
|
31.08.2009 |
31.08.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
|
14738.913 |
8090.388 |
|
|
|
Foreign Exchange Gain on Sales |
|
216.435 |
0.000 |
|
|
|
Other Income |
|
54.126 |
5.231 |
|
|
|
TOTAL (A) |
|
15009.474 |
8095.619 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
|
12846.491 |
6929.618 |
|
|
|
Personnel Costs |
|
663.589 |
598.835 |
|
|
|
Manufacturing and Other Expenses |
|
1170.765 |
1075.495 |
|
|
|
TOTAL (B) |
|
14680.845 |
8603.948 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
328.629 |
(508.329) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
|
229.365 |
193.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
99.264 |
(701.483) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
535.266 |
385.581 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(436.002) |
(1087.064) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
5.220 |
5.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(441.222) |
(1092.164) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(1951.679) |
(859.515) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(2392.901) |
(1951.679) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
|
12318.975 |
6509.207 |
|
|
|
Reversal of Corporate Support Charges |
|
47.401 |
0.000 |
|
|
|
Support and Traveling Costs Recovered |
|
51.947 |
11.618 |
|
|
TOTAL EARNINGS |
|
12418.323 |
6520.825 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
329.230 |
142.002 |
|
|
|
Stores & Spares |
|
46.565 |
86.254 |
|
|
|
Raw Materials |
|
10794.353 |
8126.180 |
|
|
TOTAL IMPORTS |
|
11170.148 |
8354.436 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(1.95) |
(14.01) |
|
KEY RATIOS
|
PARTICULARS |
|
31.08.2011 |
31.08.2010 |
31.08.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
(2.94)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.30
|
6.20
|
(2.96)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
14.12
|
(5.95)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.43
|
(0.31)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
2.02
|
4.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.26
|
1.31
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.08.2011 (Rs. in millions) |
31.08.2010 (Rs. in millions) |
31.08.2009 (Rs. in millions) |
|
Sundry Creditors
– Micro and Small Enterprises |
4267.260 |
4219.040 |
-- |
|
Sundry Creditors
– Others |
-- |
-- |
3529.043 |
|
|
4267.260 |
4219.040 |
3529.043 |
|
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 |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
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 |
MERGER
OF ERSTWHILE JABIL CIRCUIT TECHNOLOGY INDIA PRIVATE LIMITED WITH THE COMPANY
Pursuant to the approval of the Scheme of Amalgamation, the Company has issued
equity shares as per the agreed share exchange ratio to the shareholders of
Jabil Circuit Technology India Private Limited in the following manner:
|
Name of the
shareholder |
Number
of shares held in JCTIPL (Face value of Rs.10 each) |
Number
of shares to be issued by the Company (Face value of Rs.10 each fully paid
up) |
|
Jabil |
9,999 |
19,294,737 |
|
Jabil Circuit Limited, |
1 |
1,930 |
|
Total
|
10,000
|
19,296,667
|
AMALGAMATION OF
JABILCIRCUIT TECHNOLOGY INDIA PRIVATE LIMITED (‘JCTIPL’) WITH THE COMPANY
In accordance with the Scheme of Amalgamation (‘the Scheme’) of the
erstwhile Jabil Circuit Technology India Private Limited (JCTIPL) with the
Company as sanctioned by ‘he Honorable High Court of Bombay on 22 October 2010,
all the assets, liabilities and reserves of the erstwhile JCTIPL have been
transferred to and vested in the Company effective 1 April 2010. Accordingly,
the scheme had been given effect to in the financial statements for the year
ended 31st August, 2010.
JCTIPL had discontinued its business activities after 31st
March, 2009.
The amalgamation has been recorded for under the ‘pooling of interests’
method as prescribed by Accounting Standard - 14 on “Accounting for
Amalgamations” prescribed in the (Accounting Standards) Rules, 2006.
Accordingly, all assets, liabilities and reserves of the erstwhile JCTIPL at 1st
April, 2010 have been taken over at their respective book values and an uniform
set of accounting policies has been adopted.
Under the scheme of amalgamation, the authorised share capital of the
Company has been increased by 50,000 equity shares of Rs.10 each.
In consideration of transfer of the undertaking of JCTIPL) (he Company shall
issue equity shares to shareholders of JCTIPL of Rs.10/- each credited as fully
paid up, in the ratio of 5,789 equity shares of the face value of Rs.10/- each
in Company for every 3 equity shares of (the face value of Rs.10/- (Rupees Ten
only) each held in the erstwhile JCTIPL. Accordingly, the purchase
consideration of Rs.192.967 millions has to be discharged by issue of 19294737
equity shares to Jabil (Mauritius) Holdings Limited Mauritius and 1930 equity
shares to Jabil Circuit Limited, United Kingdom of Rs.10 each fully paid. The
Company has not yet allotted these shares. Accordingly the liability has been
disclosed under the head ‘Share Capital’ as Shares to be issued’, The
difference between the purchase consideration and the net assets value taken
over amounting to Rs.192.867 millions has been debited to the balance in the
Company’s Profit and Loss account on 1st April, 2010.
FIXED
ASSETS:
·
Goodwill
·
·
Building-Factory
·
Leasehold
Improvements
·
Non
·
Non Factory – Other
Plant and Machinery
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Computer Software
·
Vehicles
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.53.84 |
|
|
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.