MIRA INFORM REPORT

Report Date :

19.10.2012

IDENTIFICATION DETAILS

Name :	JANKI CORP LIMITED [w.e.f.31.12.2003]
Formerly Known As :	JANKI PROCESSORS LIMITED JANKI PROCESSORS PRIVATE LIMITED
Registered Office :	Mandpiya Chouraha, Chittor Road, Bhilwara - 311001, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.09.1993
Com. Reg. No.:	17-023549
Capital Investment / Paid-up Capital :	Rs. 271.190 Millions
CIN No.: [Company Identification No.]	U17118RJ1993PLC023549
TAN No.: [Tax Deduction & Collection Account No.]	JDHJ01584C / BLRJ01693G
PAN No.: [Permanent Account No.]	AAACJ3638A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the processing and marketing of fabrics and manufacturing of sponge iron.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 5800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is well established and reputed company having good track record. Financially company performance is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office/ Factory 1 :	Mandpiya Chouraha, Chittor Road, Bhilwara - 311001, Rajasthan, India
Tel. No.:	91-1482-249010
Fax No.:	91-1482-249020
E-Mail :	jankicorp@yahoo.co.in textile@jankicorp.com
Website :	http://www.jankicorp.com
Factory 2 :	Sidiginamola Village, District Bellary– 583138, Karnataka, India
Tel. No.:	91-8392–261174
Fax No.:	91-8392–200407/ 261174
E-Mail :	project@jankicorp.com contant@jcl.co.in

DIRECTORS

AS ON 23.09.2011

Name :

Mr. Raghu Nath Mittal

Designation :

Managing director

Address :

229/2 Mdhanlal Sukhadia Nagar, Bhilwara – 311002, Rajasthan, India

Date of Birth/Age :

19.02.1962

Qualification :

B. Com

Experience :

29 Years

Date of Appointment :

25.09.2012

PAN No.:

ADKPM2917P

DIN No.:

00175295

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17118RJ1993PLC023549	JANKI CORP LIMITED	Managing director	25/09/2012	16/09/1993	-	Active	NO
2	U24304RJ2000PLC016409	JPL INDUSTRIES LIMITED	Director	20/09/2005	22/10/2003	-	Active	NO
3	U26942ML2007PLC008276	NANOTECH CEMENT COMPANY LIMITED	Director	04/09/2007	04/09/2007	-	Under Process of Striking off	NO
4	U17299GJ1996PTC031113	BHOOMI FASHION PRIVATE LIMITED	Director	19/01/2008	19/01/2008	25/03/2012	Active	NO
5	U24119RJ2009PTC028880	JANKI APEX INDUSTRIES PRIVATE LIMITED	Director	13/05/2009	13/05/2009	-	Active	NO
6	U70101RJ2010PTC032954	SHUBHAM REALMART DEVELOPERS PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO
7	U27310WB2011PTC165347	MAA KALI STEEL AND POWER PRIVATE LIMITED	Director	25/07/2011	25/07/2011	-	Active	NO
8	U70101RJ2012PTC037758	BALAJI INFRAWORKS PRIVATE LIMITED	Director	31/01/2012	31/01/2012	-	Active	NO

Name :

Mr. Mahabir Prasad Kedia

Designation :

Director

Address :

DA15 Sector 1, Salt Lake, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

28.03.1949

Qualification :

CA/ ICWA

Date of Appointment :

10.08.2005

DIN No.:

00040878

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74300WB1982PTC035282	PAM CONSULTANTS PRIVATE LIMITED	Director	23/09/1982	23/09/1982	Active	NO
2	U65993WB1996PTC076363	PARMANAND FINSERVICES PRIVATE LIMITED	Director	04/01/1996	04/01/1996	Active	NO
3	U17118RJ1993PLC023549	JANKI CORP LIMITED	Director	10/08/2005	10/08/2005	Active	NO
4	U45400WB2007PTC120158	MPK ENCLAVE PRIVATE LIMITED	Director	02/11/2007	02/11/2007	Active	NO

Name :

Mr. Vijay Kumar Sharma

Designation :

Director

Address :

619 Rcvyas Colony, Bhilwara – 311001, Rajasthan, India

Date of Birth/Age :

06.12.1959

Qualification :

B.Com

Date of Appointment :

10.08.2005

DIN No.:

00192698

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24304RJ1994PTC007968	SILVERTONE SYNTHETICS PRIVATE LIMITED	Director	20/01/1994	20/01/1994	Active	NO
2	U17118RJ1993PLC023549	JANKI CORP LIMITED	Director	10/08/2005	10/08/2005	Active	NO

KEY EXECUTIVES

Name :	Chavi Mathur
Designation :	Secretary
Address :	Mandpiya Chouraha, Chittor Road, Bhilwara - 311001, Rajasthan, India
Date of Birth/Age :	03.11.1984
Date of Appointment :	01.06.2009
PAN No.:	ARVPM3940M
Name :	Mr. Rohit Mittal
Designation :	President
Name :	Mr. G. Narahari Reddy
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 23.09.2011

Names of Shareholders	No. of Shares
Raghu Nath Mittal	3869588
Dina Nath Mittal	25000
Arti Mittal	1000
Madhu Mittal	3826000
Santosh Devi	20000
Kunal Mittal	14000
Sunita Mittal	20000
Seema Mittal	1500
Shakshi Mittal	2000
Usha Agarwal	100
Raghu Nath Mittal HUF	3714810
Shiv Nath Mittal	1
Dhapa Devi Gulgudia	1
Rahul Mittal	3641000
Rohit Mittal	3661000
Kiosk Agenices Private Limited, India	1785000
Dadha Engineering and Credit Private Limited, India	2468000
Sweety Vanijya Viniyog Private Limited, India	3500000
Om Prakash and Sons Private Limited, India	1124500
Total	27673500

AS ON 25.01.2012

Names of Shareholders	No. of Shares
Om Prakash and Sons Private Limited, India	737500
Total	737500

AS ON 23.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	32.08
Directors or relatives of directors	67.85
Other top fifty shareholders	0.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the processing and marketing of fabrics and manufacturing of sponge iron.

Products :

ITC Code	Product Descriptions
7203	Sponge Iron
5515	Synthetic Fabrics
5513	Processing of Synthetic Fabrics

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity
Process (Stenters)	Nos.	6
Sponge Iron (Klins)	Nos.	6
Sponge Iron	MTS	180,000
Pellet	MTS	600,000
Energy	MW	15.00

Particulars	Unit	Actual Production
Process (including own production)	Mtrs	53,603,054
Fabrics (On Job Basis done from outside)	Mtrs	--
Sponge Iron (Own Production)	MTS	114,617.71
Sponge Iron (Job done for others)	MTS	--
Pellet	MTS	1,577
Energy	Kwh	61,290,796

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of Bikaner and Jaipur, Bhopal Ganj, Bhilwara – 311001, Rajasthan, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	2241.166	1745.543
Working capital loans banks secured	878.494	406.327
Loans taken for vehicles secured	55.784	22.822
Total	3175.444	2174.692
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks unsecured	100.762	0.000
Loans directors unsecured	0.000	15.275
Other debt unsecured	6.000	0.000
Total	106.762	15.275

Banking Relations :	--
Auditors 1 :
Name :	O.P. Dad and Company Chartered Accountants
Address :	Balaji Complex, Pur Road, Bhilwara - 311001, Rajasthan, India
Income-tax PAN of auditor or auditor's firm :	AAAFO3593Q
Auditors 2 :
Name :	A. Bafna and Company Chartered Accountants
Address :	K-2, Keshav Path , Near Ahinsa Circle, C-Sheme, Jaipur, Rajasthan, India
Income-tax PAN of auditor or auditor's firm :	AAGFA3909A
Associates :	Ø JPL Industries Limited Ø Janki Apex Industries Private Limited

CAPITAL STRUCTURE

AFTER 23.09.2011

Authorised Capital : Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 284.185 Millions

AS ON 23.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000	Equity Shares	Rs. 10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27,673,500	Equity Shares	Rs.10/- each	Rs. 276.735 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000	Equity Shares	Rs. 10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27,119,000	Equity Shares	Rs.10/- each	Rs. 271.190 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		271.190	265.490	260.690
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1203.044	932.953	784.116
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1474.234	1198.443	1044.806
LOAN FUNDS
1] Secured Loans		3175.444	2174.692	1568.957
2] Unsecured Loans		106.762	15.275	0.872
TOTAL BORROWING		3282.206	2189.967	1569.829
DEFERRED TAX LIABILITIES		153.133	147.511	125.639
TOTAL		4909.573	3535.921	2740.274
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3312.580	1427.665	991.592
Capital work-in-progress		229.049	1546.060	1187.389
INVESTMENT		0.003	0.003	0.003
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	993.999	475.109	591.730
	Sundry Debtors	322.817	298.000	194.853
	Cash & Bank Balances	31.568	112.966	103.910
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	562.815	398.581	303.083
Total Current Assets		1911.199	1284.656	1193.576
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	408.832	646.854	580.810
	Other Current Liabilities	68.816	46.600	33.639
	Provisions	67.402	31.183	24.788
Total Current Liabilities		545.050	724.637	639.237
Net Current Assets		1366.149	560.019	554.339
MISCELLANEOUS EXPENSES		1.792	2.174	6.951
TOTAL		4909.573	3535.921	2740.274

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2842.496	2445.065	2550.001
		Other Income	17.575	12.791	8.806
		TOTAL (A)	2860.071	2457.856	2558.807
Less	EXPENSES
		Consumption materials changes inventories	1768.498	1611.798
		Manufacturing service costs	396.341	352.957
		Employee related expenses	131.760	94.999
		Administrative selling other expenses	99.505	83.850
		TOTAL (B)	2396.104	2143.604	2286.506
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		463.967	314.252	272.301
Less	FINANCIAL EXPENSES (D)		175.043	104.407	91.491
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		288.924	209.845	180.810
Less/ Add	DEPRECIATION/ AMORTISATION (F)		110.829	67.213	57.920
	PROFIT BEFORE TAX (E-F) (G)		178.095	142.632	122.890
Less	TAX (H)		(17.894)	46.744	41.764
	PROFIT AFTER TAX (G-H) (I)		195.989	95.888	81.126
Add	EXCESS PROVISION REVERT BACK		0.000	0.000	21.651
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		524.983	429.095	326.318
	BALANCE CARRIED TO THE B/S		720.972	524.983	429.095
	IMPORTS
		Raw Materials	0.000	0.000	0.000
		Capital Goods	8.842	75.693	530.382
		Stores & Others	1.549	1.496	0.000
	TOTAL IMPORTS		10.391	77.189	530.382
	Earnings Per Share (Rs.)		4.66	3.63	3.30

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.85	3.90	3.17
Net Profit Margin (PBT/Sales)	(%)	6.27	5.83	4.82
Return on Total Assets (PBT/Total Assets}	(%)	3.41	5.26	5.62
Return on Investment (ROI) (PBT/Networth)		0.12	0.12	0.12
Debt Equity Ratio (Total Liability/Networth)		2.60	2.43	2.11
Current Ratio (Current Asset/Current Liability)		3.51	1.77	1.87

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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 three years	Yes
12]	Profitability for last three 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 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]