MIRA
INFORM REPORT
|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
JORINI HOSPITALITY PRIVATE LIMITED |
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Registered
Office : |
No.5, Krishna Cotton Press, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
18.10.2005 |
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|
Com. Reg. No.: |
11-156800 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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|
CIN No.: [Company Identification
No.] |
U55201MH2005PTC156800 |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Importer and Distributer of Indian and Foreign made beer,
wine, liquor and other FMCG products and also manufacturer of wines and
alcohol products |
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|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 38000 |
|
|
|
|
Status : |
Moderate |
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|
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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 a moderate track record. There appear huge external borrowings recorded by the company. The company
has recorded some accumulated losses. The profit margin of the company is low. However, trade relations are
reported as fair. Business is active. Payment terms are 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.
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 DECLINED BY
|
Name : |
Ms. Priya |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-24141144 |
|
Date : |
08.04.2013 |
LOCATIONS
|
Registered Office : |
No.5, Krishna Cotton Press, Jakaria Bunder Road, Sewree
(West), Mumbai – 400015, Maharashtra, India |
|
Tel. No. : |
91-22-24165230 |
|
Fax No. : |
91-22-24165840 |
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E-Mail : |
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|
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Head Office : |
Nepeansea Road, Mumbai – 400006, Maharashtra, India |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Niranjan Manghandas Thakur |
|
Designation : |
Director |
|
Address : |
Dunkfile, 2nd Floor, 8-J, Mehta Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Appointment : |
18.10.2005 |
|
DIN No. : |
00803339 |
|
|
|
|
Name : |
Ms. Jyoti Niranjan Thakur |
|
Designation : |
Director |
|
Address : |
Dunkfile, 2nd Floor, 8-J, Mehta Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Appointment : |
18.10.2005 |
|
DIN No. : |
02167769 |
KEY EXECUTIVES
|
Name : |
Ms. Priya |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Niranjan Manghandas Thakur |
|
500 |
|
Jyoti Niranjan Thakur |
|
500 |
|
Total |
|
1000 |
As on 27.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Distributer of Indian and Foreign made beer, wine,
liquor and other FMCG products and also manufacturer of wines and alcohol
products |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
Indian Overseas Bank, Worli Branch, 105, Kakad Chambers 132, Dr. A.B. Road, Worli, Mumbai - 400018, Maharashtra, India |
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Facilities : |
|
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Hemant Jain Chartered Accountant |
|
Address : |
Office No 11, 3rd Floor Gold Muohur Building, 174 Princes
Street, Mumbai – 400002, Maharashtra, India |
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PAN No. : |
ADAPJ1808L |
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|
|
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Enterprises under common control of the promoter : |
Vin Vin Enterprises Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs. 0.100 Million |
|
|
|
|
|
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 |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
(0.288) |
(1.663) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
9.600 |
9.600 |
|
Total
Shareholders’ Funds (1) + (2) |
|
9.412 |
8.037 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
40.724 |
35.334 |
|
(b) Deferred tax liabilities (Net) |
|
0.201 |
0.135 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
40.925 |
35.469 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
10.065 |
3.650 |
|
(c) Other current
liabilities |
|
0.673 |
1.523 |
|
(d) Short-term provisions |
|
0.713 |
0.370 |
|
Total Current Liabilities (4) |
|
11.451 |
5.543 |
|
|
|
|
|
|
TOTAL |
|
61.788 |
49.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5.951 |
3.219 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
5.670 |
5.703 |
|
(e) Other Non-current assets |
|
0.097 |
0.122 |
|
Total Non-Current Assets |
|
11.718 |
9.044 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
20.460 |
7.207 |
|
(c) Trade receivables |
|
19.671 |
23.320 |
|
(d) Cash and cash
equivalents |
|
0.055 |
0.063 |
|
(e) Short-term loans and
advances |
|
0.440 |
1.061 |
|
(f) Other current assets |
|
9.444 |
8.354 |
|
Total Current Assets |
|
50.070 |
40.005 |
|
|
|
|
|
|
TOTAL |
|
61.788 |
49.049 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
9.600 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1.858) |
|
|
NETWORTH |
|
|
7.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
27.109 |
|
|
2] Unsecured Loans |
|
|
5.990 |
|
|
TOTAL BORROWING |
|
|
33.099 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
40.941 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.010 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10.857 |
|
|
Sundry Debtors |
|
|
23.017 |
|
|
Cash & Bank Balances |
|
|
0.415 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
14.688 |
|
Total
Current Assets |
|
|
48.977 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
9.633 |
|
|
Other Current Liabilities |
|
|
1.105 |
|
|
Provisions |
|
|
0.456 |
|
Total
Current Liabilities |
|
|
11.194 |
|
|
Net Current Assets |
|
|
37.783 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.148 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
40.941 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
278.022 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL (A) |
412.444 |
301.521 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
410.018 |
300.487 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.426 |
1.034 |
0.447 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.497 |
0.457 |
0.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1.929 |
0.577 |
(0.029) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.411 |
0.016 |
0.198 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1.517 |
0.561 |
(0.169) |
|
|
|
|
|
|
|
|
|
Less |
Previous Years
adjustments |
0.142 |
0.366 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1.663) |
(1.858) |
(1.640) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.288) |
(1.663) |
(1.858) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1376.00 |
194.00 |
(127.00) |
|
.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.37
|
0.19 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
(0.01) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.12
|
1.18 |
(0.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.07 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.33
|
4.40 |
4.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.37
|
7.22 |
4.38 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
|
|
|
For Goods |
9.499 |
3.174 |
9.451 |
|
For Expenses |
0.566 |
0.476 |
0.182 |
|
Total |
10.065 |
3.650 |
9.633 |
|
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 |
No |
|
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 |
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] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Loan from Directors |
10.700 |
7.200 |
|
Corporate Loans |
0.500 |
0.540 |
|
Interest Accrued and Due on above |
1.904 |
0.851 |
|
Total |
13.104
|
8.591
|
FIXED ASSETS
· Computers
Office
Equipments
Furniture
and Fixtures
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 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 tansactions 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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.