MIRA INFORM REPORT
|
Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JANKI TARA IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-1055-56, Raghukul Textile Market, Ring Road, Surat – 395002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.12.2006 |
|
|
|
|
Com. Reg. No.: |
04-049595 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29269GJ2006PTC049595 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Importer of Textile Machinery such as Embroidery Machines,
Towel Embroidery Machines, Head Embroidery Machines, Single Head Sequin
Machines, Mixed Head Embroidery Machines, Auto Trimmer Embroidery Machines
etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6600 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The profitability
of the company appears to be low. The external borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with great
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 DENIED
Management Non-Cooperative (91-261-2347080)
LOCATIONS
|
Registered Office : |
A-1055-56, Raghukul Textile Market, Ring Road, Surat – 395002,
Gujarat, India |
|
Tel. No.: |
91-261-2347080 |
|
Mobile No.: |
91-9879614883 (Mr. Sandip Kedia) |
|
Fax No.: |
91-261-2347080 |
|
E-Mail : |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Sandip Kedia |
|
Designation : |
Director |
|
Address : |
B102, Bhagwati Ashish Apartment, City Light, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
20.01.1971 |
|
Date of Appointment : |
18.12.2007 |
|
DIN No.: |
01932288 |
|
|
|
|
Name : |
Mr. Sanjoy Kumar Bishwanath Kedia |
|
Designation : |
Director |
|
Address : |
10-C, Arjav 2, City Light, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
30.01.1966 |
|
Date of Appointment : |
10.11.2008 |
|
DIN No.: |
02374586 |
|
|
|
|
Name : |
Ms. Anju Kedia |
|
Designation : |
Director |
|
Address : |
B102, Bhagwati Ashish Apartment, City Light, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
05.06.1976 |
|
Date of Appointment : |
23.01.2009 |
|
DIN No.: |
02481034 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sandip Kedia |
|
5000 |
|
Anju Kedia |
|
5000 |
|
|
|
|
|
Total |
` |
10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Textile Machinery such as Embroidery Machines,
Towel Embroidery Machines, Head Embroidery Machines, Single Head Sequin
Machines, Mixed Head Embroidery Machines, Auto Trimmer Embroidery Machines
etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
|
|
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Auditors : |
|
|
Name : |
P B P and Company Chartered Accountants |
|
Address : |
A-515, India Textile Market, Ring Road, Surat – 395002, Gujarat, India
|
|
Tel. No.: |
91-261-2356875 |
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E-Mail : |
|
|
Website : |
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PAN No.: |
AAKFP8206D |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- 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 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.566 |
0.989 |
0.504 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.666 |
1.089 |
0.604 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.153 |
2.259 |
0.000 |
|
|
2] Unsecured Loans |
2.570 |
0.918 |
2.244 |
|
|
TOTAL BORROWING |
12.723 |
3.177 |
2.244 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.011 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
14.389 |
4.277 |
2.851 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.233 |
1.591 |
0.278 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.024 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.528
|
2.133 |
0.000 |
|
|
Sundry Debtors |
40.493
|
10.607 |
10.707 |
|
|
Cash & Bank Balances |
2.977
|
0.651 |
4.030 |
|
|
Other Current Assets |
4.438
|
12.354 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
1.469 |
|
Total
Current Assets |
49.436
|
25.745 |
16.206 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.035
|
19.274 |
1.393 |
|
|
Other Current Liabilities |
0.055
|
3.709 |
12.131 |
|
|
Provisions |
0.214
|
0.076 |
0.111 |
|
Total
Current Liabilities |
36.304
|
23.059 |
13.635 |
|
|
Net Current Assets |
13.132
|
2.686 |
2.571 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
14.389 |
4.277 |
2.851 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
82.149 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
149.229 |
149.412 |
82.149 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase (Net) |
|
|
73.496 |
|
|
|
Direct Expenses |
|
|
1.507 |
|
|
|
Employees Remuneration and Other Benefit |
|
|
2.990 |
|
|
|
Office and Administrative Expenses |
|
|
3.282
|
|
|
|
Preliminary Expenses written off
|
|
|
0.002 |
|
|
|
TOTAL (B) |
148.344
(Including Financial Expenses and Depreciation) |
148.691
(Including Financial Expenses and Depreciation) |
81.277 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.872 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.398 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.885 |
0.721 |
0.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.355 |
0.235 |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.530 |
0.486 |
0.247 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
0.504 |
0.257 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
0.504 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.70 |
48.49 |
24.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.36 |
0.33 |
0.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.75 |
1.26 |
2.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53 |
0.66 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.64 |
2.92 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.12 |
1.19 |
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 |
No |
|
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 |
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 |
No |
Note:
The Registered Office of the company has been shifted from A-1060-61, Raghukul Market, Ring Road, Surat – 395002, Gujarat, India to the present address w.e.f. 23.12.2009
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
From Directors |
2.570 |
0.918 |
|
|
|
|
|
Total |
2.570 |
0.918 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U29269GJ2006PTC049595 |
|
Name of the company
|
JANKI TARA IMPEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A-1055-56, Raghukul Textile Market, Ring Road, Surat – 395002,
Gujarat, India E-mail: mcafiling@yahoo.co.in
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of charge
holder |
Oriental Bank of Commerce, Jash Textile Market, Ring Road, Surat – 395002, Gujarat, India E-mail: bm0102@obc.co.in |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Assets |
|
Date of
instrument Creating the charge |
14.02.2013 |
|
Amount secured by
the charge |
Rs.25.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest LC and BC Commission
: As per Bank's guideline CC: BR+3.25%,
i.e. 13.65% P.A. to be recovered on Monthly rests and subject to change from
time to time. (Present BR is 10.4%). Penal Interest @2.00% PA Terms of
Repayment LC : DP or DA
with usance up to 90 Days BC and CC (Sub
limit of LC) : On Demand / Subject to renewal Margin LC :15% in the
shape of unencumbered duly discharged FDRs/CDRs. BC (Sub limit of
LC) : 15% CC (Sub limit of
LC) : 25% on Stock and Book debts Extent and
Operation of the charge First and Exclusive
charge on the Assets stated in Point No. 15 as below for entire dues of the
Company until fully repaid together with interest and costs. Others Letter of Credit
(Import/Foreign) Rs. 25.000 Millions Buyers Credit
(Sub Limit of LC) (Rs. 1.250 Millions) Cash Credit (Sub
Limit of LC) (Rs. 20.000 Millions) Total Limit Rs.
25.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation charge
over the Goods in case of LC on DA basis and the documents shall be delivered
against trust receipt Documents of title to goods in case of LC on DP basis
Hypothecation of Stocks of Raw materials, Stock-in-process, Finished goods,
Stores and Spares and entire receivables |
FIXED ASSETS
- Furniture and Fixture
- Air Conditioner
- Computers
- Motor Cycles
- Motor Car
- Mobile
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.