MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	JAGSON COLORCHEM LIMITED

Formerly Known As :	JAGSON COLCHEM LIMITED

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	AHMJ00097G

Legal Form :	A Closely Held Public Limited Liability Company

No. of Employees :	50 (Approximately)

BUSINESS DETAILS

Line of Business :	Manufacturer of Dyes, Pigments and Intermediates.

Products :	· Reactive Dyes · Direct Dyes · Acid Dyes · Vat Dyes · Fast Bases - Salts

Exports :
Products :	· Finished Goods
Countries :	· Brazil · Pakistan · Thailand · Mexico

Imports :
Products :	· Raw Materials
Countries :	· China

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2013)

Particulars	2012-2013
Dyes and Chemical
Licensed Capacity	Not Applicable
Installed Capacity (Three Shift) per annum	2400 MT

(In KGS)

Particulars

Purchase/ Production

Direct Black 22

780365

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

50 (Approximately)

Bankers :

The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road Fort, Mumbai – 400 001, Maharashtra, India
State Bank of India, Laghu Udhyog Branch, Near Gandhidham Railway Station, Ahmedabad – 380 009, Gujarat, India
Bank of Baroda
Bank of India
ABN Amro Bank
IDBI Bank Limited
Axis Bank Limited
Citibank

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Secured Loan	4.890	8.502
SHORT TERM BORROWINGS
Loan repayable on Demand
- From Bank	78.218	80.959
Term Loan
- SBI Term Loan (Installments due within 12 months)	4.200	4.200
Total	87.308	93.661

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
From Members	10.540	6.092
Total	10.540	6.092


Banking Relations :	--

Auditors :
Name :	KPSJ and Associates Chartered Accountants
Address :	501-504, Sahajanand Shopping Centre, Shahibaug Road, Ahmedabad – 380 004, Gujarat
Telefax No.:	91-79-25621950/ 25631950/ 65221950/ 51/ 52/ 53/ 54
E-Mail:	info@kpsjca.com
Website :	www.kpsjca.com
PAN No.:	AAGFK2924D

Other Related Parties :	Jagson Industries (Mr. Dinesh Jagnani’s Proprietorship Firm) Arihant Infracon Private Limited (Holding of Place of Directorship by relatives of Directors)

MAJOR SHAREHOLDERS

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Dinesh Jagnani	255500
Kamleshben Jagnani	100200
Bheeksingh Solanki	100
Vidhi Jagnani	400
Abhishek Jagnani	100000
Nikita A. Jagnani	50000
Arihant Infracon Private Limited	40000
Total	546200

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	5.462	5.462	5.462
(b) Reserves & Surplus	95.011	71.329	58.555
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	100.473	76.791	64.017

(3) Non-Current Liabilities
(a) Long-term borrowings	15.430	14.594	46.889
(b) Deferred tax liabilities (Net)	1.307	1.228	0.828
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	16.737	15.822	47.717

(4) Current Liabilities
(a) Short term borrowings	82.418	85.159	34.761
(b) Trade payables	102.054	58.575	50.964
(c) Other current liabilities	12.621	18.886	4.030
(d) Short-term provisions	12.459	6.938	4.589
Total Current Liabilities (4)	209.552	169.558	94.344

TOTAL	326.762	262.171	206.078

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32.823	32.036	31.628
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	32.823	32.036	31.628

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	33.008	12.765	28.129
(c) Trade receivables	145.711	120.095	69.370
(d) Cash and cash equivalents	16.293	20.118	13.218
(e) Short-term loans and advances	8.385	10.442	10.103
(f) Other current assets	90.542	66.715	53.630
Total Current Assets	293.939	230.135	174.450

TOTAL	326.762	262.171	206.078

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	781.452	524.643	373.849
		Other Income	2.949	2.233	1.857
		TOTAL (A)	784.401	526.876	375.706

Less	EXPENSES
		Cost of materials consumed	626.676	410.073	306.952
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(5.848)	4.147	(1.001)
		Employee Benefit Expenses	8.762	7.364	5.684
		Other Expenses	104.958	71.408	43.634
		TOTAL (B)	734.548	492.992	355.269

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		49.853	33.884	20.437

Less	FINANCIAL EXPENSES (D)		9.272	9.640	5.068

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		40.581	24.244	15.369

Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.241	4.131	3.420

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		36.340	20.113	11.949

Less	TAX (H)		11.776	6.640	4.377

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		24.564	13.473	7.572

	EARNINGS IN FOREIGN CURRENCY		693.457	485.965	NA

	Earnings / (Loss) Per Share (Rs.)		44.97	24.67	13.86

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office/ Head Office/ Factory 1 :	Plot No.5601/4, Phase-II, GIDC Estate, Vatva, Ahmedabad – 382 445, Gujarat, India
Tel. No.:	91-79-25832873/ 65458813
Mobile No.:	91-9879484214 (Mr. Nitin) 91-9824445150 (Mr. Bheekh Singh Solanki)
Fax No.:	91-79-25835415
E-Mail :	info@jagson.com exports@jagson.com purchase@jagson.com abhi@jagson.com ppsystem@yahoo.co.in
Website :	http://www.jagson.com
Location :	Owned

Factory 2 :	264/1, GIDC, Phase –II, Vatva, Ahmedabad – 382 445, Gujarat, India
Tel. No.:	91-79-22868349
Fax No.:	91-79-25835415
E-Mail :	info@jagson.com exports@jagson.com
Location :	Owned

Overseas Office/ Warehouse :	Located at: · Korea · Turkey

Note:

The registered office of the company has been shifted from B-52, Om Tower, Shahibaug Camp Road, Ahmedabad – 380 004, Gujarat to the present address w.e.f. 01.04.2007.

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