|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN TANNING INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
44, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.08.1998 |
|
|
|
|
Com. Reg. No.: |
21-087832 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 87.615 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19201WB1998PTC087832 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI6948Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Manufacturer of leather for upholstery, shoes, garments,
goods, belts and other kinds of accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. There
appears huge external borrowings 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 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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.
LOCATIONS
|
Registered Office : |
44, |
|
Tel. No.: |
91-33-23293630 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on : 29.09.2012
|
Name : |
Mrs. Meenu Juneja |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.03.1960 |
|
Date of Appointment : |
28.06.2000 |
|
Pan No : |
AEMPJ2219J |
|
Voter ID No.: |
01428084 |
|
DIN No.: |
01290532 |
|
|
|
|
Name : |
Mr. Kevin Juneja |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.03.1984 |
|
Date of Appointment : |
20.08.2007 |
|
Pan No : |
AEMPJ8579H |
|
Voter ID No.: |
01290532 |
|
DIN No.: |
01428084 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Juneja Das Thakur |
386310 |
|
Juneja Kumar Kamesh |
5253800 |
|
Juneja Meenu |
1900 |
|
Juneja Kevin |
6000 |
|
J C International Limited |
1050000 |
|
J C Overseas Limited |
500000 |
|
Tommorow Sales Agency Private Limited |
600000 |
|
Radhaballabh Distributors Private Limited |
450000 |
Equity
Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
1.00 |
|
Other top fifty shareholders |
99.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of leather for upholstery, shoes, garments, goods,
belts and other kinds of accessories. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
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Bankers : |
The South Indian Bank Limited, 38 Ganesh Chandra Avenue, First Floor,
Kolkata-700013, West Bengal, India |
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Facilities : |
Rs. in Millions
|
|
|
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Auditors : |
|
|
Name : |
R N Chandra and Associates Chartered Accountants |
|
Address : |
156/A, Lenin Sarani, 1st Floor, F-82, Kolkata-700013, West |
|
PAN No.: |
ACQPC5903J |
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|
|
|
Associates : |
·
Indotan Chemicals
Cin No:
U51109WB1988PLC04475I ·
J C International Limited
Cin No:(U51109WB1999PLC089) ·
J C Exports ·
K A Lim Tannery ·
J C Overseas Limited,
Cin No : (U65993WB1999PLC090116) ·
Chu and Company ·
KREBS International Limited, ·
Manash Estate Private Limited,
Cin No.(U70101WB1987PTC042082) ·
Tai Lien TanneryJagsons Tanning Indutries ·
Bengal Juneja Leather Complex Limited,
Cin No.
(U19113WB2007PLC115119) |
CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs. 10/-each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8761500 |
Equity Shares |
Rs. 10/-each |
Rs. 87.615 Millions |
|
|
|
|
|
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 |
87.615 |
87.615 |
87.615 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.479 |
12.556 |
11.706 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
101.094 |
100.171 |
99.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
138.050 |
87.509 |
81.258 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.501 |
|
|
TOTAL BORROWING |
138.050 |
87.509 |
81.759 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
239.144 |
187.680 |
181.080 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.535 |
51.693 |
55.185 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.034 |
1.799 |
15.645 |
|
|
DEFERRED TAX ASSETS |
0.156 |
0.156 |
0.156 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
107.060
|
77.070 |
70.126 |
|
|
Sundry Debtors |
83.892
|
82.810 |
95.142 |
|
|
Cash & Bank Balances |
18.179
|
18.202 |
0.602 |
|
|
Other Current Assets |
85.502
|
97.851 |
0.000 |
|
|
Loans & Advances |
5.497
|
3.576 |
65.505 |
|
Total
Current Assets |
300.130
|
279.509 |
231.375 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
89.818
|
134.771 |
113.432 |
|
|
Other Current Liabilities |
21.373
|
8.903 |
0.853 |
|
|
Provisions |
2.520
|
1.803 |
1.005 |
|
Total
Current Liabilities |
113.711
|
145.477 |
121.305 |
|
|
Net Current Assets |
186.419
|
134.032 |
110.070 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.024 |
|
|
|
|
|
|
|
|
TOTAL |
239.144 |
187.680 |
181.080 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.653 |
1.591 |
1.433 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.730 |
0.741 |
0.511 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.923 |
0.850 |
0.922 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.346 |
2.495 |
1.574 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.922 |
3.346 |
2.495 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.01 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.47
|
0.48 |
0.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37
|
0.87 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64
|
1.92 |
1.91 |
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 |
No |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY ;
|
Corporate
identity number of the company |
U19201WB1998PTC087832 |
|
Name of the
company |
INDIAN TANNING INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
44, Email : ramesh_juneja@rediffmail.com |
|
This form is for |
Modification of
Charge |
|
Charge
identification (ID) number of the charge to be modified |
10321763 |
|
Type of charge |
·
Immovable
Property ·
Any Interest
in Immovable Property ·
Book
Debts ·
Others
(All the property in the name of the company) |
|
Particular of
charge holder |
The South Indian Bank Limited, 38 Ganesh Chandra Avenue, First Floor,
Kolkata-700013, West Bengal, India Email: br0129@sib.co.in |
|
Nature of
instrument creating charge |
Agreement of
Guarantee dated 7-2-2012 |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Rs. 170.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest : this is corporate
guarantee Terms of Repayments: this is corporate
guarantee Margin : this is corporate
guarantee Extend and operation of the charge : First Charge |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Corporate
Guarantee This Includes All The Property Of The Company |
|
Date of
instrument modifying the charge |
09.11.2011 |
|
Particulars of
the present modification |
Vide This
Modification The Overall Limit Reduced To Rs. 170.000 Millions |
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. 54.28 |
|
|
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
|
28 |
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.