MIRA INFORM REPORT

 

 

Report Date :

12.09.2013

 

IDENTIFICATION DETAILS

 

Name :

JAIN (EUROPE) LIMITED 

 

 

Registered Office :

Grove House 3rd Floor 551 London Road Isleworth, TW7 4DS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

21.06.1996

 

 

Com. Reg. No.:

03215190

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Importation and distribution of plastic products, such as pvc and polycarbonate sheets, especially pvc and pe pipes and components of irrigation systems,and of food products, such as dehydrated onions, fruit concentrates, pulp and purees.

 

 

No. of Employees :

116

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

 

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)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.

Source : CIA

COMPANY NAME AND ADDRESS

 

    Jain (Europe) Ltd. 

 

 

Grove House 3rd Floor

 

551 London Road

 

 

 

Isleworth, TW7 4DS

 

United Kingdom

 

(TradingAddress) 
Registered Address

 

 Map

 

 

 

Tel: 020 8326 5900

 

Fax: 020 8326 5929

 

 

 

 www.jains.com

 

 

 

Employees:

116

Company Type:

Private Subsidiary

Corporate Family:

25 Companies

Ultimate Parent:

Jain Irrigation Systems Limited

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

21-Jun-1996

Auditor:

Spofforths LLP

Financials in:   USD (Mil)

 

Fiscal Year End:

31-Mar-2013

Reporting Currency:

British Pound Sterling

Annual Sales:

100.0  1

Net Income:

0.4

Total Assets:

54.0

 

 

Business Description

 

 

Importation and distribution of plastic products, such as pvc and polycarbonate sheets, especially pvc and pe pipes and components of irrigation systems,and of food products, such as dehydrated onions, fruit concentrates, pulp and purees

 

Industry

 

 

Industry

Miscellaneous Wholesale

ANZSIC 2006:

373 - Furniture, Floor Covering and Other Goods Wholesaling

ISIC Rev 4:

4669 - Wholesale of waste and scrap and other products n.e.c.

NACE Rev 2:

4676 - Wholesale of other intermediate products

NAICS 2012:

4239 - Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2007:

4676 - Wholesale of other intermediate products

US SIC 1987:

509 - Miscellaneous Durable Goods

 

 

 

Key Executives   

           

 

Name

Title

Ashish Gadi

General Manager

Jitendra Shah

Secretary

Ashish Gagi

VP

Anil Bhavarlal Jain

Director

Ayul Jain

Director

 

 

Financial Summary

                                                  

 

FYE: 31-Mar-2013

USD (mil)

Key Figures

 

Current Assets

49.42

Fixed Assets

4.63

Total Liabilities

56.25

Net Worth

-3.21

 

Key Ratios

 

Current Ratio

0.88

Acid Test

0.51

Debt Gearing

-4.48

 

 

 

 

 

Registered No.(UK): 03215190

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6329098 


2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6591356

 

 

Corporate Overview

 

Location
Grove House 3rd Floor
551 London Road
Isleworth, TW7 4DS
Middlesex County 
United Kingdom

 

Tel:

020 8326 5900

Fax:

020 8326 5929

 

 

Sales GBP(mil):

63.3

Assets GBP(mil):

35.6

Employees:

116

Fiscal Year End:

31-Mar-2013

 

Industry:

Retail (Department and Discount)

Registered Address:
3Rd Floor Rear Right
Regal House
Twickenham, TW1 3QS
United Kingdom

 

Incorporation Date:

21-Jun-1996

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

03215190

 

Director:

Ayul Jain

Industry Codes

 

 

ANZSIC 2006 Codes:

373

-

Furniture, Floor Covering and Other Goods Wholesaling

 

ISIC Rev 4 Codes:

4669

-

Wholesale of waste and scrap and other products n.e.c.

 

NACE Rev 2 Codes:

4676

-

Wholesale of other intermediate products

 

NAICS 2012 Codes:

4239

-

Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

509

-

Miscellaneous Durable Goods

 

UK SIC 2007:

4676

-

Wholesale of other intermediate products

Description: \\vivek\web\images\arrows\externalright.gif

Business Description

Importation and distribution of plastic products, such as pvc and polycarbonate sheets, especially pvc and pe pipes and components of irrigation systems,and of food products, such as dehydrated onions, fruit concentrates, pulp and purees and other p

 

More Business Descriptions

Irrigation Systems Mfr & Sales

 

Plastic Product Manufacturers

 

Each of our products is an outcome of an effort to conserve natures precious resources through substitution or value addition. This is the legacy of a deliberate and conscious endeavor that stems from a deep-rooted concern for nature. There is more to Jain Irrigation than irrigation. The Corporation has multi product industrial profile and manufacturers of Drip and Sprinkler Irrigation Systems and Components; PVC, Polyethylene (HDPE, MDPE) & Polypropylene Piping Systems; Plastic Sheets (PVC & PC sheets); Agro Processed Products includes Dehydrated Onions and Vegetables; Processed Fruits (Purees, Concentrates & Juices); Tissue Culture, Hybrid & Grafted Plants; Greenhouses, Poly and Shade Houses; Bio-fertilizers; Green Energy includes Solar Photovoltaic (Solar lighting and appliances, Solar pumping systems), Solar water heating systems and Bio-Energy sources. We render consultancy for complete or partial project planning and implementation e.g. Watershed or Wasteland and / or Crop Selection and Rotation. Financial Highlights Turnover US$ 822 million Compounded growth rate (CAGR) for past 5 years 41% Exports from India Operations US $ 112 million Market Capitalisation Over US$ 1.5 Billion Equity Shares & FCCB listed in Exchanges India (BSE, NSE), Singapore, Luxembourg Acquisitions during 2006-07 21 - Within India 8 - Outside India 13 Our Global Presence Countries 120 Continents 4 Plants 27 Offices 97 Warehouses / Depots 52 Distributors 6,700 Global workforce More than 7,000 Agri and irrigation Scientists: Engineers, Technologists and Technicians Over 1,526 Awarding Institution - wise number of Awards Given by Total International Institutes 07 Govt. of India 108 Govt. of Maharashtra 38 National Acclaimed Institutions 42 Felicitation by National Dignitories 02 Ranking by Globally & Nationally Acclaimed Institutions 09 Total 206 Certifications All divisions ISO-9001:2008 Irrigation, Plastic Piping & Plastic Sheet divisions ISO-14001:2004 Plastic Park BS OHSAS 18001:2007 Food division ISO-22000:2005, FSMS, BRC, GMA - Safe, HACCP, SGF & KOSHER Agriculture division EUREPGAP We Process (MT/Annum)* For More Than 7068 Components. Various Polymers 300,000 Fruits and Vegetables 234,575 Fruits 114,575 Onion & Vegetables 120,000 Our Installed Capacities (Annum)* Agricultural Tissue Culture Banana & Onion Plantlets (Nos.) 30,000,000 Hybrid Onion Seed 30 M.T. Grafted Plants (Nos.) 2,500,000 Greenhouses, Poly & Shadehouses upto 200,0000 m 2 Food Processing(Seasonal) Fruit Pulps and Concentrates 109,575 Frozen Fruits 9,000 Onion & Vegetable Dehydration 120,000 Irrigation Irrigation On-line & In-line Tubing 90,710 M.T. Irrigation system moulded parts 8,000 M.T. Irrigation / Agricultural PVC pipes 47,810 M.T. QRC pipes & fittings 20,110M.T. Sprinklers (nos) 25, 00,000 Piping Systems PVC pipes 137,153 M.T. PVC fittings 6,500 M.T. PE /PP pipes 97,550 M.T. PE /PP fittings 6,500 M.T. Plastic Sheet PVC foam sheet 36,300 M.T. Solar Solar Water Heaters 1,200,000 Litres Jain Jyot Lanterns 1,50,000 Pieces Jain Jyot Home Lighting Systems 50,000 Pieces Jain Jyot Street Lighting Systems 45,000 Pieces * Figures of 2009-10 Jain Irrigation has been named as one of the eight Indian companies expected to emerge as challengers to the World's leading companies by Standard and Poor recently in May 2007. Rewards Millions of satisfied farmers / customers. Crawford Reid Memorial Award (Irrigation Association, USA) Water Conserver of India (UNESCO & West-Net) Challangers to the World‘s Leading Companies (Stander & Poors) Asia‘s 200 Best Under a Billion Companies (Forbes Asia) 100 Most Promising Clean Technology Companies on the Planet (Global Cleantech & The Guardian) Client Leadership Award (International Finance Corporation, World Bank Group) Best Water Company Award (UNESCO, Ministry of the Water Resources & Water Digest) Boldness in Business Award - Environment (Financial Times & Arcelor Mittal, London) Scores of our major customers - India : Aditya Birla, APMIP, Bharti, BSNL, Coca-Cola, GGRC, Gujrat Gas, Hindustan Levers, HFCL, Hutch, IGL, IVRCL, Larsen & Toubro, Mahanagar Gas, Nestle, Power Grid, Tantia Constructions, BEFESA, Ramky, Reliance, Tata, etc. Overseas : Alcatel, Amari Plastics Plc., Cargill, Coca-Cola, Friesland Foods, GE, General Mills, Heinz, Innocent, Kerry, Langers Juices Company Inc, Larsen & Toubro, Mars Incorporated, McCormik, Mitsui & Co. Ltd., Nestle, Polytrim, Saarioinen, Schumacher, Sleaford, SVZ Industrial Fruit & Vegetable, Taiyo, Unidelta, Vink, Worlee etc. Achievements Agriculture & Irrigation Division World number one in Drip Irrigation with Pipe Production. World number one in Tissue culture Banana Plant Production. The only manufacturer of complete drip irrigation systems in the world. Pioneers of Micro Irrigation Systems in India. Globally second and the largest irrigation Company in India also a Total Agri-Service Provider. One-Stop High-Tech agricultural shop. Nurtures a sprawling 3000 acre Hi-Tech Agri Institute. Largest pool of Agricultural Scientists, Engineers & Technicians in Private Sector. Pipe Division The largest manufacturer of Plastic Pipes in India. Plastic Sheet Division The largest manufacturer of PVC & PC sheets in India and globally amongst first 5 Companies. The only manufacturer producing widest range of Plastic Sheets (PC & PVC) under one roof. Food Processing Division Number one in Mango Processing (Mango pulp, puree and concentrate). Globally second largest manufacturer of dehydrated onion. Number three in Onion & Vegetable Dehydration.

 

Description: \\vivek\web\images\arrows\externalright.gif

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

63.3

Net Income:

0.3

Assets:

35.6

Current Assets:

32.6

 

Fixed Assets:

3.1

 

Long Term Debt:

0.3

 

Total Liabilities:

37.4

 

Issued Capital:

8.5

 

Working Capital:

-4.5

 

Net Worth:

-2.1

 

 

 

Date of Financial Data:

31-Mar-2013

 

1 Year Growth

5.2%

NA

13.2%

Description: \\vivek\web\images\arrows\externalright.gif

Key Corporate Relationships

 

Auditor:

Spofforths LLP

Bank:

Barclays Bank PLC

 

Auditor:

Spofforths LLP

 

Auditor History

Spofforths LLP

31-Mar-2013

Spofforths LLP

31-Mar-2012

Spofforths LLP

31-Mar-2011

Spofforths LLP

31-Mar-2010

Spofforths LLP

31-Mar-2009

 

 

 

GBP(mil)

Audit Fees:

0.0

Non Audit Fees:

0.0

Audit Fiscal Year:

03-31-2013

 

 

 

 

 

 

 

Corporate Family

           


Total Corporate Family Members: 25

 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Jain Irrigation Systems Limited

Parent

Jalgaon

India

Machinery and Equipment Manufacturing

936.1

7,645

NaanDanJain Irrigation (C.S.) Ltd

Subsidiary

Post Naan

Israel

Machinery and Equipment Manufacturing

103.7

530

NaanDan Agro-Pro Ltd

Subsidiary

Naan

Israel

Machinery and Equipment Manufacturing

 

 

NaanDan Jain Peru S.A.C,

Subsidiary

Lima

Peru

Water and Sewage Services

 

 

NaanDan Jain Mexico, S.A. De C.V.

Subsidiary

Texcoco

Mexico

Machinery and Equipment Manufacturing

 

 

Jain (Europe) Ltd.

Subsidiary

Isleworth

United Kingdom

Miscellaneous Wholesale

100.0

116

Sleaford Quality Foods Ltd.

Subsidiary

Sleaford

United Kingdom

Food Manufacturing

57.9

102

Jain (Americas), Inc.

Subsidiary

Columbus, OH

United States

Construction and Hardware Materials Wholesale

 

81

Jain Irrigation, Inc.

Subsidiary

Ontario, CA

United States

Water and Sewage Services

 

150

Jain Irrigation Inc

Branch

Fresno, CA

United States

Machinery Wholesale

10.8

5

Jain Irrigation Inc

Branch

Haines City, FL

United States

Crop and Animal Production

0.3

3

Cascade Specialties Inc.

Subsidiary

Boardman, OR

United States

Crop and Animal Production

 

35

Nu Cedar Mills

Subsidiary

Columbus, OH

United States

Wood Product Manufacturing

 

5

Nucedar Mills Inc

Subsidiary

Chicopee, MA

United States

Rubber and Plastic Product Manufacturing

0.8

4

Chapin Watermatics Inc.

Subsidiary

Watertown, NY

United States

Water and Sewage Services

30.5

50

Naandan Jain Iberica S.L

Subsidiary

El Ejido, Almeria

Spain

Cement and Concrete Product Manufacturing

15.2

37

NaanDan Jain S.R.L.

Subsidiary

San Giuliano Milanese, Milano

Italy

Cement and Concrete Product Manufacturing

7.7

14

NaanDan Jain France Sarl

Subsidiary

Toulouse, Haute-Garonne

France

Cement and Concrete Product Manufacturing

2.9

6

JISL Global SA

Subsidiary

Neuchatel, Neuenburg

Switzerland

Metal Products Manufacturing

 

 

JISL Systems SA

Subsidiary

Neuchatel, Neuenburg

Switzerland

Metal Products Manufacturing

 

 

THE Machines Yvonand SA

Subsidiary

Yvonand, Vaud

Switzerland

Cement and Concrete Product Manufacturing

21.3

55

Jain Overseas BV

Subsidiary

Amsterdam, Noord-Holland

Netherlands

Investment Services

 

 

Jain Sulama Sistemleri Sanayi Ve Ticaret A S

Subsidiary

Istanbul (Europe)

Turkey

Rubber and Plastic Product Manufacturing

21.9

74

NaanDan Jain Australia Pty Ltd

Subsidiary

Melbourne, VIC

Australia

Machinery Wholesale

 

 

Jain International Trading BV

Subsidiary

Amsterdam, North Holland

Netherlands

Metal Products Manufacturing

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Ayul Jain

 

Director

Director/Board Member

Age: 44

 

Anil Bhavarlal Jain

 

Director

Director/Board Member

 

 

Age: 48

 

Education:

Mumbai University, JD 
Pune University, commerce 

 

 

Executives

 

Name

Title

Function

Ashish Gadi

 

General Manager

Division Head Executive

Jitendra Shah

 

Secretary

Company Secretary

Ashish Gagi

 

VP

Other

 

Directors and Shareholders Report

 

Main Office Address:
Grove House 3rd Floor
551 London Road
Isleworth
United Kingdom TW7 4DS

Tel: 020 8326 5900
Fax: 020 8326 5929
URL: http://www.jains.com

Annual Return Date: 21 Jun 2013
Total Issued Capital (GBP 000):5,996

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Anil 
Jain

Current

10 Mar 1965

Grove House 551 London Road, 
Isleworth, Middlesex TW7 4DS

06 Jan 1997

NA

Current:5
Previous:0
Disqualifications:0

 

Ayul 
Jain

Current

06 Jan 1969

Grove House 3Rd Floor, 551 London Road, 
Isleworth, Middlesex TW7 4DS

02 Sep 2005

NA

Current:1
Previous:0
Disqualifications:0

 

Ashish 
Gadi

Previous

30 Jul 1965

3 Marlborough Drive, 
Weybridge, Surrey KT13 8PA

10 Jan 1997

02 Jan 1999

Current:0
Previous:1
Disqualifications:0

 

Anup 
Jacob

Previous

05 Jul 1973

4200 23Rd Street, 
San Francisco, California 94114

12 Feb 2002

02 Sep 2005

Current:0
Previous:1
Disqualifications:0

 

Atul 
Jain

Previous

06 Jan 1969

8/9 Suyog Colony, Jalgaon 425001, 
Maharastra

01 Jan 1999

12 Feb 2002

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Instant Companies Limited

Previous

1 Mitchell Lane, 
Bristol, Avon BS1 6BU

21 Jun 1996

02 Jul 1996

Gardwell Nominees Limited

Previous

11 Catherine Place, Westminster, 
London , London SW1E 6DX

NA

14 Aug 1997

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Jitendra 
Shah

Current

NA

551 London Road,
Isleworth, Middlesex TW7 4DS

12 Mar 2010

NA

Current:1
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Swift Incorporations Limited

Previous

1 Mitchell Lane, 
Bristol, Avon BS1 6BU

21 Jun 1996

02 Jul 1996

Wsm Secretaries Limited

Previous

Woodcock House Gibbard Mews, 37-38 High Street Wimbledon Village, 
Wimbledon, London SW19 5BY

02 Jul 1996

12 Mar 2010

 

 

 

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

JISL Overseas Limited

5995500 Ordinary GBP 1.00

Ordinary

5,995,500

1.00

5,995,500.00

100.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

Annual Income Statement

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.63291

0.626752

0.643394

0.627794

0.592803

Consolidated

Yes

Yes

Yes

No

No

 

 

 

 

 

 

Turnover (UK)

-

90.2

-

-

-

Turnover (Exports)

-

5.8

-

-

-

Total Turnover

100.0

96.0

56.4

40.7

25.6

Cost of Sales

88.3

86.7

52.3

40.5

24.6

Gross Profit

11.7

9.3

4.2

0.2

1.1

Depreciation

0.4

0.4

0.2

0.0

0.0

Other Expenses

12.9

10.4

4.5

0.9

5.5

Operating Profit

-1.2

-

-

-0.7

-4.4

Other Income

0.4

0.3

0.5

0.0

0.0

Interest Paid

1.7

1.0

0.7

0.5

0.3

Exceptional Income

2.9

0.0

0.0

0.0

0.0

Discontinued Operations

0.0

-

0.0

0.0

-

Profit Before Taxes

0.4

-1.9

-0.5

-1.2

-4.7

Tax Payable / Credit

0.0

0.0

0.0

0.0

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

0.4

-1.9

-0.5

-1.2

-4.8

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.0

0.0

0.0

0.0

0.0

Non Audit Fees

0.0

0.0

0.0

-

-

Number of Employees

116

102

96

11

9

Wages

5.0

3.9

2.0

0.6

0.6

Social Security Costs

0.4

0.3

0.2

0.1

0.1

Pensions

0.0

0.0

0.0

-

-

Other Pension Costs

0.2

0.1

0.1

0.0

0.0

Employees Remuneration

5.5

4.4

2.3

0.6

0.7

Directors Emoluments

0.0

0.0

0.0

-

-

Other Costs

0.0

0.0

0.0

-

-

Directors Remuneration

0.0

0.0

0.0

-

-

Highest Paid Director

0.0

0.0

0.0

-

-

 

 

Annual Income Statement

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.659136

0.628108

0.62385

0.659239

0.697666

Consolidated

Yes

Yes

Yes

No

No

 

 

 

 

 

 

Land & Buildings

-

-

-

0.0

0.0

Fixtures & Fittings

-

-

-

0.0

0.0

Plant & Vehicles

-

-

-

0.0

0.0

Total Tangible Fixed Assets

4.3

4.8

4.5

0.0

0.0

Intangible Assets

0.3

0.7

1.0

0.0

0.0

Investments

0.0

3.8

3.9

3.7

3.5

Total Fixed Assets

4.6

9.2

9.4

3.7

3.5

Stocks

20.9

30.0

26.9

16.5

17.1

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

20.9

30.0

26.9

16.5

17.1

Trade Debtors

19.0

17.6

14.7

12.1

6.1

Inter-Company Debtors

8.0

10.0

5.5

4.5

6.6

Other Debtors

0.7

0.8

0.8

0.2

0.1

Total Debtors

27.7

28.5

21.0

16.7

12.8

Cash and Equivalents

0.8

1.6

0.1

1.0

0.2

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

49.4

60.1

47.9

34.2

30.1

Total Assets

54.0

69.4

57.3

37.9

33.6

Trade Creditors

27.0

6.1

6.8

25.5

30.1

Bank Overdraft

18.1

27.4

12.8

8.0

-

Inter-Company Creditors

10.4

37.1

36.1

0.2

2.7

Director Loans (Current Liability)

-

0.0

-

0.0

-

Hire Purchase (Current Liability)

0.1

0.1

0.0

0.0

-

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

-

Total Finance Lease/Hire Purchase (Current Liability)

0.1

0.1

0.0

0.0

-

Total Short Term Loans

-

0.0

-

0.0

-

Accruals/Deferred Income (Current Liability)

0.3

0.5

0.8

0.5

0.1

Social Security/VAT

0.1

0.2

0.2

0.1

0.0

Corporation Tax

0.0

0.0

0.5

0.0

-

Dividends (Current Liability)

-

0.0

-

0.0

-

Other Current Liabilities

0.2

0.5

0.2

3.8

3.3

Total Current Liabilities

56.3

71.8

57.4

38.1

36.2

Group Loans (Long Term Liability)

-

-

0.0

0.8

0.0

Director Loans (Long Term Liability)

-

-

-

0.0

0.0

Hire Purchase (Long Term Liability)

0.1

-

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

-

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.1

-

0.0

0.0

0.0

Other Long Term Loans

-

0.2

-

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

-

-

-

0.0

0.0

Other Long Term Liabilities

0.3

0.6

1.1

0.0

0.1

Total Long Term Liabilities

0.5

0.8

1.1

0.8

0.1

Deferred Taxation

0.2

0.3

0.3

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.2

0.3

0.3

0.0

0.0

Issued Capital

9.1

9.5

9.6

9.1

5.7

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

-12.0

-13.0

-11.2

-10.0

-8.4

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

-2.9

-3.5

-1.6

-0.9

-2.7

Net Worth

-3.2

-4.1

-2.6

-0.9

-2.7

 

 

 

 

Annual Income Statement

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.63291

0.626752

0.643394

0.627794

0.592803

Consolidated

Yes

Yes

Yes

No

No

 

 

 

 

 

 

Net Cash Flow From Operating Activities

1.7

-13.7

5.0

-7.6

0.6

Net Cash Flow from ROI and Servicing of Finance

-1.3

-0.7

-0.7

-0.5

-0.3

Taxation

0.0

-0.6

0.0

0.0

0.0

Capital Expenditures

6.6

-0.7

-4.4

0.0

0.0

Acquisitions and Disposals

0.0

0.0

0.0

0.0

0.0

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

Management of Liquid Resources

0.0

0.0

0.0

0.0

0.0

Net Cash Flow From Financing

-7.7

17.3

-0.9

9.0

-0.3

Increase in Cash

-0.8

1.5

-1.0

0.8

0.0

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.659136

0.628108

0.62385

0.659239

0.697666

Consolidated

Yes

Yes

Yes

No

No

 

 

 

 

 

 

Current Ratio

0.88

0.84

0.83

0.90

0.83

Liquidity Ratio

0.51

0.42

0.37

0.47

0.36

Stock Turnover

4.59

3.19

2.17

2.35

1.28

Credit Period (Days)

72.24

67.21

92.33

114.00

102.43

Working Capital by Sales

-7.12%

-12.17%

-16.32%

-9.99%

-27.74%

Trade Credit by Debtors

1.42

0.34

0.46

2.11

4.91

Return on Assets

0.70%

-2.67%

-0.90%

-2.95%

-12.00%

Profit Margin

0.40%

-1.94%

-0.89%

-2.88%

-18.51%

Borrowing Ratio

-894.52%

-1,575.77%

-1,910.97%

-952.10%

-100.33%

Equity Gearing

-5.36%

-4.97%

-2.72%

-2.49%

-8.01%

Debt Gearing

-4.48%

-5.09%

-0.16%

-80.03%

-

Interest Coverage

0.23

-1.90

-0.70

-2.46

-14.87

Sales by Tangible Assets

22.26

20.15

12.94

1,459.18

559.80

Average Remuneration per Employee

0.0

0.0

0.0

0.1

0.1

Profit per Employee

0.0

0.0

0.0

-0.1

-0.4

Sales per Employee

0.8

0.9

0.6

3.5

2.4

Capital Employed per Employee

0.0

0.0

0.0

0.0

-0.3

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

0.5

0.7

0.6

3.4

3.7

Employee Remuneration by Sales

5.52%

4.54%

4.07%

1.60%

2.56%

Creditor Days (Cost of Sales Based)

116.17

25.56

46.31

241.46

525.13

Creditor Days (Sales Based)

102.58

23.10

42.90

240.21

503.36

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.90

UK Pound

1

Rs. 100.47

Euro

1

Rs. 84.65

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.