|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
JANAK HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
METALBEDS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Janak House,
Opposite Indian Oil Corporation Depot, Antop Hill, Sheikh Misry Road, Wadala (East),
Mumbai - 400037, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.12.1999 |
|
|
|
|
Com. Reg. No.: |
11-122868 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 31.450 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH1999PTC122868 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM02400G /
MUMM24031A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM0219N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Hospitality Furniture. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1130000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track record. Trade relations are reported as fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered good 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SME Ratings (SME 1) |
|
Rating Explanation |
Highest credit worthiness adjusted in relation
to other SME’s. |
|
Date |
26.02.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-49153000 |
|
Date : |
11.12.2013 |
LOCATIONS
|
Registered Office : |
Janak House,
Opposite Indian Oil Corporation Depot, Antop Hill, Sheikh Misry Road, Wadala
(East), Mumbai - 400037, Maharashtra, India |
|
Tel. No.: |
91-22-24180637/ 24150408/
24130407/ 49153000 |
|
Fax No.: |
91-22-24139870 |
|
E-Mail : |
pramod.jadhav@janakhealthcare.com
apurva.mehta@janakhealthcare.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Kalpataru Point, Unit
No. 12, 1st Floor, Opposite Cinemax Theatre, Sion (East), Mumbai - 400022,
Maharashtra, India |
|
Tel. No.: |
91-22-49153000 |
|
Fax No.: |
91-22-49153100 |
|
|
|
|
Factory : |
A-1/3, G.I.D.C.
Estate, Umbergaon-390171, District Valsad, Gujarat, India |
|
Tel. No.: |
91-260-2562406/
2562706/ 2563516/ 2562416 |
|
Fax No.: |
91-260-2562706 |
|
|
|
|
Branch Office : |
Ø 432 / 1 / 2,
Prince Anwar Shah Road, Kolkata – 700045, West Bengal, India Ø 15-16 Community Centre,
Naraina Industrial Area, Phase – I, First Floor, Office No.2, Near Naraina
P.O., New Delhi – 110028, India Ø No. 9, City
Centre, 1st Floor, 66, Thirumalai Pillai Road, Near Vani Mahal, T. Nagar,
Chennai – 600017, Tamilnadu, India |
DIRECTORS
AS ON 11.07.2012
|
Name : |
Mr. Apurva
Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
153, Jain Society, 3rd Floor, Shri Mahavir Co-operative
Housing Society, Sion, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1943 |
|
Date of Appointment : |
02.12.1999 |
|
DIN No.: |
00051072 |
|
|
|
|
Name : |
Mr. Robert James Morris |
|
Designation : |
Nominee Director |
|
Address : |
1822, Lexington Drive, Troy 48084, United States of America |
|
Date of Appointment : |
07.04.2012 |
|
DIN No.: |
01394704 |
|
|
|
|
Name : |
Dr. Anne Eiting Klamar |
|
Designation : |
Director |
|
Address : |
875, Wooodland, Dr. Versailles, Oh 45380, USA |
|
Date of Birth/Age : |
31.03.1961 |
|
Date of Appointment : |
22.12.2008 |
|
DIN No.: |
02421161 |
|
|
|
|
Name : |
Mr. Vijay Paliwal |
|
Designation : |
Nominee director |
|
Address : |
219, Denwood TRL, Clayton 45315, United States of America |
|
Date of Birth/Age : |
20.05.1977 |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
02903223 |
|
|
|
|
Name : |
Mr. Amit Hasmukh Mehta |
|
Designation : |
Nominee director |
|
Address : |
601, Crystal Classic CHS Limited, 6th Floor, S V Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1963 |
|
Date of Appointment : |
12.05.2010 |
|
DIN No.: |
03090161 |
KEY EXECUTIVES
|
Name : |
Mr. Pramod |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Amit Jayantilal Mehta Joint Shareholding With Rita A. Mehta |
|
20876 |
|
Apurva Jayantilal Mehta With Hema Mehta |
|
380699 |
|
Apurva Jayantilal Mehta With Atman A. Mehta |
|
203298 |
|
Apurva Jayantilal Mehta With Subir A. Mehta |
|
203298 |
|
Hasmukh Mehta With Vasant H. Mehta |
|
215543 |
|
Hasmukh Mehta With Amit H Mehta |
|
207146 |
|
Hasmukh Mehta With Raj H. Mehta |
|
207146 |
|
Midmark Corporation, USA |
|
1706994 |
|
|
|
|
|
Total |
|
3145000 |
AS ON 11.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
54.28 |
|
Directors
or relatives of directors |
|
45.72 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Hospitality Furniture. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
· USA Gulf Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
· USA |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately ) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai –
400013, Maharashtra, India (Tel No.: 91-22-6652100) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Note: SHORT TERM
BORROWINGS 1)
Loan from Bank represents cash credit facility
bearing interest rate @13% p.a. 2)
The cash credit facility is secured by stock,
book debts and entire Current asset and movable fixed assets of the company. |
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Huskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor,Indiabulls Finance Centre, Senapati Bapat
Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Holding Company : |
Midmark Corporation, USA |
|
|
|
|
Subsidiaries : |
Janak Medicare Private Limited [U33110MH2008PTC181578] |
|
|
|
|
Fellow Subsidiaries : |
Ø Newmed S.R.L. Ø Midmark Europe |
|
|
|
|
Associates and Other Entity : |
Ø Janak Sales and
Services Ø Metal Beds India
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3145000 |
Equity Shares |
Rs. 10/- each |
Rs. 31.450
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
31.450 |
31.450 |
|
(b) Reserves & Surplus |
|
250.453 |
193.678 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
281.903 |
225.128 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.274 |
1.154 |
|
(b) Deferred tax liabilities (Net) |
|
10.170 |
9.216 |
|
(c) Other long
term liabilities |
|
1.260 |
1.811 |
|
(d) long-term
provisions |
|
6.318 |
7.318 |
|
Total Non-current
Liabilities (3) |
|
18.022 |
19.499 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
19.755 |
2.188 |
|
(b)
Trade payables |
|
84.928 |
119.424 |
|
(c) Other
current liabilities |
|
28.868 |
38.437 |
|
(d) Short-term
provisions |
|
13.860 |
20.522 |
|
Total Current
Liabilities (4) |
|
147.411 |
180.571 |
|
|
|
|
|
|
TOTAL |
|
447.336 |
425.198 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
92.272 |
66.773 |
|
(ii)
Intangible Assets |
|
0.001 |
0.001 |
|
(iii)
Capital work-in-progress |
|
6.605 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.857 |
7.782 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
105.935 |
74.756 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
123.699 |
112.879 |
|
(c)
Trade receivables |
|
120.534 |
189.003 |
|
(d) Cash
and cash equivalents |
|
81.678 |
30.850 |
|
(e)
Short-term loans and advances |
|
9.433 |
17.710 |
|
(f)
Other current assets |
|
6.057 |
0.000 |
|
Total
Current Assets |
|
341.401 |
350.442 |
|
|
|
|
|
|
TOTAL |
|
447.336 |
425.198 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.450 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
137.440 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
168.890 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4.557 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
4.557 |
|
|
DEFERRED TAX LIABILITIES |
|
|
9.235 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
182.682 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
60.679 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
31.031 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
88.924
|
|
|
Sundry Debtors |
|
|
140.672
|
|
|
Cash & Bank Balances |
|
|
22.109
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
63.847
|
|
Total
Current Assets |
|
|
315.552
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
113.723 |
|
|
Other Current Liabilities |
|
|
42.859
|
|
|
Provisions |
|
|
67.998
|
|
Total
Current Liabilities |
|
|
224.580
|
|
|
Net Current Assets |
|
|
90.972
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
182.682 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
805.934 |
761.527 |
643.698 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
684.495 |
636.682 |
539.977 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
121.439 |
124.845 |
103.721 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.078 |
2.312 |
4.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
119.361 |
122.533 |
99.081 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.277 |
5.326 |
4.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
113.084 |
117.207 |
94.326 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.467 |
40.063 |
35.911 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
73.617 |
77.144 |
58.415 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
117.298 |
68.774 |
34.744 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.362 |
7.714 |
5.842 |
|
|
|
Dividend |
16.842 |
20.906 |
18.543 |
|
|
BALANCE CARRIED
TO THE B/S |
166.711 |
117.298 |
68.774 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
8.919 |
17.195 |
13.812 |
|
|
|
Export Earnings |
8.955 |
14.376 |
8.953 |
|
|
|
Reimbursement |
0.000 |
0.362 |
0.606 |
|
|
TOTAL EARNINGS |
17.874 |
31.933 |
23.371 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
66.802 |
31.439 |
38.086 |
|
|
|
Trading Materials |
39.139 |
64.772 |
41.728 |
|
|
|
Capital Goods |
9.483 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
115.424 |
96.211 |
79.814 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
23.41 |
24.53 |
18.97 |
|
|
|
Diluted
|
23.41 |
24.53 |
19.50 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
860.000 |
|
|
|
|
|
The above information has been parted by Mr. Prakash (Accounts
Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.13
|
10.13 |
9.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.67
|
27.58 |
25.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.52 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
0.85 |
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
1.91 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long term debt |
0.721 |
0.478 |
NA |
|
|
|
|
|
|
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 |
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 |
No |
|
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) |
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10015448 |
30/01/2010 * |
126,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A81459364 |
|
2 |
80010040 |
25/02/2010 * |
146,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A83599944 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS |
|
|
|
Due from a subsidiary company Janak Medicare Private Limited |
2.678 |
2.188 |
|
From Banks |
17.077 |
0.000 |
|
|
|
|
|
Total |
19.755 |
2.188 |
BACKGROUND
Subject was incorporated on 2nd December, 1999 to manufacture,
trade, and import and export furniture used in health care centre. JHPL is a
closely held company with 1438006 shares being held by “Mehta” family (Indian
Promoters) and 1706994 shares held by Midmark Corporation a US based company.
The accompanying financial statements reflect the results of the
activities undertaken by JHPL and JMPL during the financial year 2010-11.
CONTINGENT
LIABILITIES (AS ON 31.03.2012):
Contingent liabilities towards Bank Guarantees given to customers and
other business requirement are Rs. 20.330 Millions and income tax outstanding
demand for Rs. 2.390 Millions which is in dispute.
FIXED ASSETS
Ø
Land
Ø
Ø
Plant And Machinery
Ø
Typewriter
Ø
Office Air Conditioner
Ø
Motor car
Ø
Scooter
Ø
Factory Furniture
Ø
Computer
Ø
Library Books
Ø
Factory Road
Ø
Factory Equipment
Ø
Office Premises
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 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 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. 61.33 |
|
|
1 |
Rs. 100.79 |
|
Euro |
1 |
Rs. 84.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.