MIRA INFORM REPORT
|
Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAMIPOL LIMITED (w.e.f. 12.09.2007) |
|
|
|
|
Formerly Known
As : |
JAMSHEDPUR INJECTION POWDER LIMITED |
|
|
|
|
Registered
Office : |
Namdih Road, Burma Mines, Jamshedpur – 7, Jamshedpur - 831 007,
Jharkhand |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.04.1995 |
|
|
|
|
Com. Reg. No.: |
03-009020 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 112.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24111JH1995PLC009020 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RCHJ00111G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7475R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the activities related to manufacture of Desulphurising Compounds (DCs). |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects Jamipol’s leadership position in the
desulphurising compounds segment marked by strong financial position and comfortable
liquidity position. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “AA-“ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
04.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A1+“ |
|
Rating Explanation |
Highest degree of safety and lowest credit
risk. |
|
Date |
04.10.2013 |
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 DECLINED
Management non-cooperative (Tel. No.: 91-657-2345428)
LOCATIONS
|
Registered Office : |
Namdih Road, Burma Mines, Jamshedpur – 7, Jamshedpur - 831 007,
Jharkhand, India |
|
Tel. No.: |
91-657-2345428 / 2345431 |
|
Fax No.: |
91-657-2345427 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 31.07.2013
|
Name : |
Mr. Dasho Wangchuk Dorji |
|
Designation : |
Director |
|
Address : |
2, Woodburn Park, 1st Floor, Calcutta – 831005, West
Bengal, India |
|
Date of Birth/Age : |
26.08.1966 |
|
Qualification : |
BSc (specialization in business finance |
|
Date of Appointment : |
23.11.1996 |
|
PAN No.: |
ADVPD6092K |
|
DIN No.: |
00296747 |
|
|
|
|
Name : |
Mr. Shib Krishna Chakrabarty |
|
Designation : |
Director |
|
Address : |
16, Uday Shankar Sarani (Formerly Golf CL UB Road), 5th
Floor, Flat No.5 FGHI, Siddha Shree Apartment, Calcutta – 700033, West
Bengal, India |
|
Date of Birth/Age : |
27.11.1948 |
|
Qualification : |
BSc Engg. (Metallurgy), AMIE, MIIM |
|
Date of Appointment : |
23.11.1996 |
|
Voter ID No.: |
WB/23/151/027827 |
|
DIN No.: |
01114356 |
|
|
|
|
Name : |
Mr. Rohan Ghosh |
|
Designation : |
Director |
|
Address : |
G-418, New Alipore, Kolkata, West Bengal, India |
|
Date of Birth/Age : |
20.08.1958 |
|
Qualification : |
Bachelor of Arts |
|
Date of Appointment : |
18.01.2002 |
|
Voter ID No.: |
WB/23/146/168284 |
|
DIN No.: |
00032965 |
|
|
|
|
Name : |
Mr. Topgyal Dorji |
|
Designation : |
Director |
|
Address : |
Tashi Group of Companies, Tashiling, Thimphu, Bhutan, India |
|
Date of Birth/Age : |
07.06.1951 |
|
Qualification : |
Graduated with specialization in marketing |
|
Date of Appointment : |
20.07.2006 |
|
PAN No.: |
ASNPD7914K |
|
DIN No.: |
00296793 |
|
|
|
|
Name : |
Mr. Ines Kolmsee |
|
Designation : |
Director |
|
Address : |
Tutzing Traubinger Str, 18, Hamburg, Germany |
|
Date of Birth/Age : |
04.04.1970 |
|
Qualification : |
B.E & M.B.A. |
|
Date of Appointment : |
22.09.2008 |
|
DIN No.: |
02399031 |
|
|
|
|
Name : |
Mr. Varun Jha |
|
Designation : |
Director |
|
Address : |
42, Road NO. 2, Circuit House Area, (Old) Northern Town, Jamshedpur,
East Singhbhoom, Jharkhand – 831001 |
|
Date of Birth/Age : |
06.07.1951 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.10.2009 |
|
PAN No.: |
ABDPJ9742Q |
|
DIN No.: |
00116939 |
|
|
|
|
Name : |
Mr. Reiner Willyhencrich Bunnenberg |
|
Designation : |
Director |
|
Address : |
345, Goundery Street, North Tonawanda, N Y 14120, USA |
|
Date of Birth/Age : |
14.01.1964 |
|
Qualification : |
Process engineering, Graduate School |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
03583873 |
|
|
|
|
Name : |
Mr. V.S.N. Murty |
|
Designation : |
Director |
|
Address : |
No. 10, Judges Court Road, Alipore, Flat No. 31, 7th Floor,
Kolkata, India |
|
Date of Birth/Age : |
15.04.1951 |
|
Qualification : |
B.Com & ACA |
|
Date of Appointment : |
01.02.2012 |
|
PAN No.: |
ABIPV2892A |
|
DIN No.: |
00092348 |
|
|
|
|
Name : |
Mr. Manish Sharma |
|
Designation : |
Director |
|
Address : |
1, BC Road, Northern Town, Jamshedpur – 831001, India |
|
Date of Birth/Age : |
13.01.1965 |
|
Date of Appointment : |
14.05.2013 |
|
PAN No.: |
ABOPA8304N |
|
DIN No.: |
02966491 |
|
|
|
|
Name : |
Mr. Adarsh Kumar Agrawal |
|
Designation : |
Managing director |
|
Address : |
DLX-61, Carnation, Ashiana Gardens Sonar, Jamshedpur, East Singhbhum,
Jharkhand – 831011, India |
|
Date of Birth/Age : |
15.08.1969 |
|
Qualification : |
FCA, FCS, FCMA |
|
Date of Appointment : |
01.02.2012 |
|
PAN No.: |
JVNO805615 |
|
DIN No.: |
05182659 |
|
|
|
|
Name : |
Mr. Hartmut Meyer Grunow |
|
Designation : |
Director |
|
Address : |
345, Goundry St North Tonawanda NY 14120 |
|
Date of Birth/Age : |
11.06.1950 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
03042201 |
KEY EXECUTIVES
|
Name : |
Mr. Urmi Chaudhury |
|
Designation : |
Secretary |
|
Address : |
Jade-2422, Vijaya Golden Town DSonari, Jamshedpur, East Singhbhum, Jharkhand
– 831011, India |
|
Date of Birth/Age : |
09.08.1985 |
|
Date of Appointment : |
28.01.2013 |
|
PAN No.: |
ANYPC6586E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.07.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 31.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Bodies corporate |
|
49.11 |
|
Directors or relatives of directors |
|
0.11 |
|
Other top fifty shareholders |
|
0.78 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the activities related to manufacture of Desulphurising Compounds (DCs). |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountants |
|
Address : |
B Engal Intelligent Park, Building Alpha, 1st Floor, Plot No. A1,M2 and N2 ,Block Ep and Gp, Sector-V, Salt Lake Lectronics Complex, Kolkata -700091, India |
|
PAN No.: |
AADFD5357J |
|
|
|
|
Related Parties : |
Tata Steel Limited SKW Stahl Metallurgie GmbH |
CAPITAL STRUCTURE
As on: 31.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11250000 |
Equity Shares |
Rs.10/- each |
Rs. 112.500
Millions |
|
|
|
|
|
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 |
112.500 |
112.500 |
112.500 |
|
(b) Reserves & Surplus |
551.316 |
481.695 |
405.505 |
|
(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) |
663.816 |
594.195 |
518.005 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
7.628 |
5.084 |
3.307 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.343 |
12.754 |
15.633 |
|
Total
Non-current Liabilities (3) |
14.971 |
17.838 |
18.940 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
46.537 |
1.698 |
21.103 |
|
(b) Trade payables |
184.512 |
87.808 |
51.292 |
|
(c) Other current liabilities |
27.991 |
24.304 |
24.995 |
|
(d) Short-term provisions |
138.822 |
125.473 |
150.704 |
|
Total
Current Liabilities (4) |
397.862 |
239.283 |
248.094 |
|
|
|
|
|
|
TOTAL |
1,076.649 |
851.316 |
785.039 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
188.663 |
128.070 |
144.314 |
|
(ii) Intangible Assets |
0.216 |
0.540 |
0.269 |
|
(iii) Capital work-in-progress |
110.283 |
142.017 |
31.756 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.760 |
2.760 |
2.760 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.693 |
22.918 |
17.528 |
|
(e) Other Non-current assets |
1.204 |
1.110 |
0.584 |
|
Total
Non-Current Assets |
326.819 |
297.415 |
197.211 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
169.762 |
139.162 |
253.244 |
|
(b) Inventories |
229.534 |
146.123 |
150.547 |
|
(c) Trade receivables |
303.361 |
202.291 |
141.465 |
|
(d) Cash and cash equivalents |
8.817 |
25.399 |
3.309 |
|
(e) Short-term loans and
advances |
38.356 |
40.926 |
39.263 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
749.830 |
553.901 |
587.828 |
|
|
|
|
|
|
TOTAL |
1,076.649 |
851.316 |
785.039 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2,468.334 |
1,764.189 |
1,366.409 |
|
|
Other Income |
18.312 |
16.933 |
13.282 |
|
|
TOTAL
(A) |
2,486.646 |
1,781.122 |
1,379.691 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1,310.894 |
1,056.177 |
877.242 |
|
|
Purchases of Stock-in-Trade |
550.505 |
290.532 |
99.868 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.898) |
(0.808) |
(3.152) |
|
|
Employees benefits expense |
59.246 |
47.701 |
39.650 |
|
|
Other expenses |
155.410 |
77.161 |
65.849 |
|
|
TOTAL
(B) |
2,057.157 |
1,470.763 |
1,079.457 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
429.489 |
310.359 |
300.234 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.873 |
2.154 |
0.534 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
424.616 |
308.205 |
299.700 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
27.578 |
18.563 |
20.588 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
397.038 |
289.642 |
279.112 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
126.544 |
95.777 |
87.905 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
270.494 |
193.865 |
191.207 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
85.172 |
28.407 |
98.500 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
27.000 |
19.400 |
19.100 |
|
|
Interim Dividend |
65.300 |
0.000 |
84.400 |
|
|
Proposed Dividend |
106.900 |
101.300 |
123.700 |
|
|
Tax on Interim Dividend |
10.600 |
0.000 |
14.000 |
|
|
Tax on Proposed Dividend |
18.200 |
16.400 |
20.100 |
|
|
Balance
Carried to the B/S |
127.666 |
85.172 |
28.407 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
0.000 |
113.360 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
24.04 |
17.23 |
17.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.88 |
10.88 |
13.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.09 |
16.42 |
20.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
41.20 |
40.99 |
37.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.49 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.70 |
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
2.31 |
2.37 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
112.500 |
112.500 |
112.500 |
|
Reserves & Surplus |
405.505 |
481.695 |
551.316 |
|
Net
worth |
518.005 |
594.195 |
663.816 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
21.103 |
1.698 |
46.537 |
|
Total
borrowings |
21.103 |
1.698 |
46.537 |
|
Debt/Equity
ratio |
0.041 |
0.003 |
0.070 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,366.409 |
1,764.189 |
2,468.334 |
|
|
|
29.111 |
39.913 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,366.409 |
1,764.189 |
2,468.334 |
|
Profit |
191.207 |
193.865 |
270.494 |
|
|
13.99% |
10.99% |
10.96% |
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 |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE
In 2012-13 the Company reached new milestones surpassing all previous of production, sales, revenues and profit. With a Net Turnover of Rs. 2470.000 millions and a Profit After Tax of Rs. 270.000 millions, the company has achieved the best ever performance resulting to a remarkable increase of 40 % in the net turnover and 42 % in the net profit of the company.
OPERATIONS
The production of CADs for the year was 37,818 MT as compared to the previous production of 31,598 MT. A total of 37,642 MT was despatched against 31,678 MT in the previous year recording an increase of 19 %.
The Company is now resourced with some significant new businesses and projects undertaken in the current financial year, which further strengthen the Company and would ensure the overall rise and profitability of the company in the coming years. Efforts are taken to accomplish the projects at earliest possibilities to maintain the growth trend in the future years to come as well.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U24111JH1995PLC009020 |
|
Name of the
company |
JAMIPOL LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Namdih Road,
Burmamines, Jamshedpur-7, Jamshedpur- 831007, Jharkhand, India Email: accounts@jamipol.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10290618 |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
ICICI Bank
Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat,
India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 31/10/2012 executed between Jamipol Limited and ICICI
Bank Limited |
|
Date of
instrument Creating the charge |
31.10.2012 |
|
Amount secured by
the charge |
Rs. 147,000,000/- |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: ICICI Bank Base rate plus 270 bp pa. WCDL: ICICI Bank
Base Rate plus 210 bp pa. Letter of Credit:
Commission @ 0.75% pa. Terms of Repayment Cash Credit : On
Demand WCDL : Minimum 3
days; Maximum Tenor : 180 days or upto the validity of the facility,
whichever is earlier Margin Cash Credit: 25%
on all components of inventory and 25% on Book Debts with cover period upto
90 days. Nil Cash Margin for LC limits Extent and Operation of the charge First charge by
way of hypothecation of the company’s entire stocks of raw materials,
semi-finished and finished goods, consumable stores and spares and such other
moveables including book-debts, bills whether documentary or clean,
outstanding monies, receivables, both present and future, in a form and
manner satisfactory to the Bank, ranking pari passu with IDBI Bank Limited,
Bistupur, Jamshedpur Others Sanctioned
Limits: Cash Credit : INR 57.000 million with sub-limit of INR 45.000 million
for WCDL, INR 57.000 million for Buyers Credit, INR 57.000 million for Letter
of Credit and INR 20.000 million for Bank Guarantees. Additional sanction of
INR 90.000 million for Letter of Credit with a sub-limit of INR 90.000 million for Buyers Credit/LUT |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge by
way of hypothecation of the companys entire stocks of raw materials, semi-finished
and finished goods, consumable stores and spares and such other moveables
including book-debts, bills whether
documentary or clean, outstanding monies, receivables, both present and
future, in a form and manner satisfactory to the Bank, ranking pari passu
with IDBI Bank Limited, Bistupur, Jamshedpur |
|
Date of
instrument modifying the charge |
02.04.2012 |
|
Particulars of
the present modification |
By this
modification, the sanctioned limit by ICICI Bank is enhanced to INR 147.000
million, which is secured by First charge by way of hypothecation of the
company’s entire stocks of raw materials, semi-finished and finished goods,
consumable stores and spares and such other moveables including book-debts,
bills whether documentary or clean, outstanding monies, receivables, both
present and future, in a form and manner satisfactory to the Bank, ranking
pari passu with IDBI Bank Limited, Jamshedpur |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Vehicles
- Office equipment
- Furniture and fixtures
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 records 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. 61.05 |
|
|
1 |
Rs. 100.81 |
|
Euro |
1 |
Rs. 84.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.