MIRA INFORM REPORT
|
Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
JSIW INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4, Astta Mitra
Estate, B/H. Jupiter Mill, Dudheshwar Road, Ahmedabad – 380004, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.06.2007 |
|
|
|
|
Com. Reg. No.: |
04-051174 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 180.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45208GJ2007PTC051174 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMJ03108A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ8501F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of infrastructure mainly construction of long distance oil and gas pipeline. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of partnership firm namely “Jay Somnath Iron
Works” started in the year 1990. And later in the year June 2007 it got converted into private limited
company. It is an established company having a satisfactory track record. The company has seen a dip in its net profitability during 2012.
However, the financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of financial support from its promoters, the company can be
considered for 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April 10, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
April 10, 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 [GENERAL DETAILS]
|
Name : |
Mr. R K Bhatia |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-23971001 |
|
Date : |
24.09.2013 |
LOCATIONS
|
Registered Office : |
4, Astta Mitra
Estate, B/H. Jupiter Mill, Dudheshwar Road, Ahmedabad – 380004, Gujarat,
India |
|
Tel. No.: |
91-79-23971327/ 1001 |
|
Fax No.: |
91-79-23971209 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
JSIW House, B/s. Khoraj Fly Over, S. G. Road, District
Gandhinagar – 382421, Gujarat, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Babubhai Kacharabhai Patel |
|
Designation : |
Director |
|
Address : |
Manir Valo Vas, At Khoraj, At Gandhinagar – 382421, Gujarat, India |
|
Date of Birth/Age : |
01.06.1953 |
|
Qualification : |
Commerce Graduate |
|
Experience : |
More than 32 Years |
|
Date of Appointment : |
22.06.2007 |
|
PAN No.: |
ABEPP8963A |
|
DIN No.: |
01471354 |
|
|
|
|
Name : |
Mr. Prashantkumar Babubhai Patel |
|
Designation : |
Director |
|
Address : |
Manir Valo Vas, At Khoraj, At Gandhinagar – 382421, Gujarat, India |
|
Date of Birth/Age : |
05.06.1978 |
|
Date of Appointment : |
22.06.2007 |
|
PAN No.: |
AHBPP3276F |
|
DIN No.: |
02081002 |
|
|
|
|
Name : |
Mr. Brijeshkumar Rameshbhai Patel |
|
Designation : |
Director |
|
Address : |
At and Post Khoraj, Taluka and District Gandhinagar – 382421, Gujarat,
India |
|
Date of Birth/Age : |
06.06.1979 |
|
Date of Appointment : |
22.06.2007 |
|
PAN No.: |
AGUPP9786C |
|
DIN No.: |
02080984 |
|
|
|
|
Name : |
Mrs. Kailasben Babubhai Patel |
|
Designation : |
Director |
|
Address : |
At and Post Khoraj, Taluka and District Gandhinagar – 382421, Gujarat,
India |
|
Date of Appointment : |
22.06.2007 |
|
PAN No.: |
ABVPP9565D |
|
DIN No.: |
01471379 |
|
|
|
|
Name : |
Mr. Alpesh Babubhai Patel |
|
Designation : |
Director |
|
Address : |
At and Post Khoraj, Taluka and District Gandhinagar – 382421, Gujarat,
India |
|
Date of Appointment : |
26.06.2007 |
|
PAN No.: |
AFKPP7947N |
|
DIN No.: |
02080971 |
|
|
|
|
Name : |
Mr. Rameshbhai Kacharabhai Patel |
|
Designation : |
Director |
|
Address : |
At and Post Khoraj, Taluka and District Gandhinagar – 382421, Gujarat,
India |
|
Date of Appointment : |
26.06.2007 |
|
PAN No.: |
AEFPP2013R |
|
DIN No.: |
02081008 |
KEY EXECUTIVES
|
Name : |
Mr. R K Bhatia |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Babubhai Kacharabhai Patel |
|
5950000 |
|
Rameshbhai Kacharabhai Patel |
|
2350000 |
|
Alpesh Babubhai Patel |
|
3200000 |
|
Prashantkumar Babubhai Patel |
|
3200000 |
|
Brijeshkumar Rameshbhai Patel |
|
3200000 |
|
Kailasben Babubhai Patel |
|
50000 |
|
Subhadraben Patel |
|
50000 |
|
|
|
|
|
Total |
|
18000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of infrastructure mainly construction of long distance oil and gas pipeline. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Others · Oil and Natural Gas Corporation Limited · Gail (India) Limited · Gujarat State Petronet Limited · GSPC Gas Company Limited · Indian Oil Corporation Limited ·
Gujarat Gas Company Limited · Bharat Petroleum Corporation Limited · Reliance Industries Limited · Sabarmati Gas Limited · Hindustan Zinc Limited ·
Bell Ceramics Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
· The Bank of Baroda, Chinaibag Estate, Dudheshwar Road, Ahmedabad - 380004, Gujarat, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Bajaj Auto Finance Limited, Bajaj Auto Limited Complex,
Mumbai - Pune Road, Akurdi, Pune - 411035, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
A. Bafna and Company Chartered Accountants |
|
Address : |
506, Akik, S. G. Road, Bodakdev, Ahmedabad – 380054,
Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFA3909A |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000 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 |
|
180.000 |
180.000 |
|
(b) Reserves & Surplus |
|
373.278 |
306.381 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
30.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
553.278 |
516.381 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
249.619 |
185.783 |
|
(b) Deferred tax liabilities (Net) |
|
16.779 |
11.876 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
1.466 |
0.958 |
|
Total
Non-current Liabilities (3) |
|
267.864 |
198.617 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
387.645 |
258.053 |
|
(b)
Trade payables |
|
194.995 |
98.261 |
|
(c)
Other current liabilities |
|
98.955 |
86.638 |
|
(d)
Short-term provisions |
|
25.163 |
55.192 |
|
Total
Current Liabilities (4) |
|
706.758 |
498.144 |
|
|
|
|
|
|
TOTAL |
|
1527.900 |
1213.142 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
241.818 |
215.174 |
|
(ii)
Intangible Assets |
|
0.030 |
0.352 |
|
(iii)
Capital work-in-progress |
|
0.000 |
2.138 |
|
(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 |
|
2.041 |
1.897 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
243.889 |
219.561 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
357.194 |
214.459 |
|
(c)
Trade receivables |
|
695.977 |
592.952 |
|
(d)
Cash and cash equivalents |
|
67.497 |
82.629 |
|
(e)
Short-term loans and advances |
|
160.054 |
99.675 |
|
(f)
Other current assets |
|
3.289 |
3.866 |
|
Total
Current Assets |
|
1284.011 |
993.581 |
|
|
|
|
|
|
TOTAL |
|
1527.900 |
1213.142 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
180.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
196.790 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
376.790 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
274.619 |
|
|
2] Unsecured Loans |
|
|
138.701 |
|
|
TOTAL BORROWING |
|
|
413.320 |
|
|
DEFERRED TAX LIABILITIES |
|
|
12.308 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
802.418 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
178.931 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
97.286 |
|
|
Sundry Debtors |
|
|
839.806 |
|
|
Cash & Bank Balances |
|
|
99.048 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
38.495 |
|
Total
Current Assets |
|
|
1074.635 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
400.940 |
|
|
Other Current Liabilities |
|
|
29.019 |
|
|
Provisions |
|
|
21.863 |
|
Total
Current Liabilities |
|
|
451.822 |
|
|
Net Current Assets |
|
|
622.813 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.674 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
802.418 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
1834.855 |
1809.093 |
|
|
|
|
Other Income |
8.081 |
5.431 |
|
|
|
|
TOTAL |
1842.936 |
1814.524 |
1733.540 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1746.185 |
1649.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEM AND TAX |
96.751 |
164.842 |
|
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEMS |
0.044 |
(0.700) |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
96.795 |
164.142 |
188.963 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
29.898 |
54.551 |
66.451 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
66.897 |
109.591 |
122.512 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
277.673 |
168.082 |
75.945 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
19.846 |
|
|
|
Dividend |
0.000 |
0.000 |
9.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.529 |
|
|
BALANCE CARRIED
TO THE B/S |
344.570 |
277.673 |
168.082 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Imports (CIF) Value |
|
2.808 |
2.201 |
|
|
|
Capital Goods |
|
0.670 |
0.000 |
|
|
TOTAL IMPORTS |
NA
|
3.478 |
2.201 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.72 |
6.09 |
6.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.63
|
6.04 |
7.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.28
|
9.07 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.34
|
13.55 |
15.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.32 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.15
|
0.86 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
1.99 |
2.38 |
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 |
55.781 |
37.229 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
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 |
10370370 |
14/07/2012 |
3,500,000.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE, PUNE, MAHARASHTRA - 411035, INDIA |
B45622461 |
|
2 |
10300686 |
19/07/2011 |
1,355,200.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B18220699 |
|
3 |
10299108 |
06/07/2011 |
1,719,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B17635699 |
|
4 |
10242065 |
25/08/2010 |
55,300,000.00 |
BAJAJ AUTO FINANCE LIMITED |
BAJAJ AUTO LIMITED COMPLEX, MUMBAI - PUNE ROAD, AKURDI, PUNE - 411035, MAHARASHTRA, INDIA |
A94846383 |
|
5 |
10077859 |
25/06/2010 * |
2,970,000,000.00 |
THE BANK OF BARODA |
CHINAIBAG ESTATE, DUDHESHWAR ROAD, AHMEDABAD - 380004, GUJARAT, INDIA |
A88467402 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
52.063 |
77.357 |
|
Loans and advances from related parties |
157.625 |
64.840 |
|
|
|
|
|
Total |
209.688 |
142.197 |
GENERAL INFORMATION
Subject is engaged mainly in the business of infrastructure mainly construction of long distance oil and gas pipeline on contractual basis.
BUSINESS
PERFORMANCE:
The Income for the financial year were Rs. 1842.900 Millions as against
Rs. 1814.500 Millions for the previous financial year. The profit before
exceptional item and tax of Rs. 96.700 Millions and the profit after
exceptional item and tax of Rs. 66.800 Millions for the financial year as
against Rs. 164.800 Millions and Rs. 109.500 Millions respectively for the
previous financial year.
BUSINESS
PROSPECTS:
The company has planned to expand its business over the next two years
in infrastructure sector including Highways, Roads, Flyovers, Pipeline
Integrity and Pipeline Maintenance.
JSIW Infrastructure Private Limited is an innovator in mainline
cross-country pipeline construction for oil and gas infrastructure. The company
continues to offer a unique and diverse group of services for all project
construction requirements. The company has the equipments, men power,
resources, and expertise to schedule, manage, and construct pipelines of any
size and length in all terrains. The company construction teams are focused on
safety, quality, and efficiency resulting in a cost-effective project executed
on time and within budget.
The objectives of the Company are to identify and follow the most
suitable and applicable international standards in the construction industry
within a STEP CHANGE approach and to preserve a Safe Work Environment.
FINANCE:
The Company is at present enjoying consortium finance assistance of Bank of Baroda (BOB-Lead Bank), Development Credit Bank Limited, (DCB), Allahabad Bank, 3i Infotech Trusteeship Services Limited (ICICI Bank), IDBI Bank Limited and Corporation Bank for fund and non-fund based credit facilities.
During the year, the company have regularly paid the principal
and interest to the Banks. The Company acknowledges and appreciates the
consistent support and excellent co-operation extended by the Bankers during
its association with Company.
FIXED ASSETS:
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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. 62.66 |
|
|
1 |
Rs. 100.46 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.