MIRA INFORM REPORT
|
Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL AGRO MILLS PRIVATE
LIMITED |
|
|
|
|
Registered Office
: |
Village and P.O.
Jandiali, Chandigarh Road, Ludhiana – 141 112, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.02.1989 |
|
|
|
|
Com. Reg. No.: |
16-009092 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15311PB1989PTC009092 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7654A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Copper and Copper Alloys, Copper and
Aluminium Wires/ Strips, DPC, DDC and Fibre Glass Strips, Brass Billets,
Copper Billets, Earthing Rods, Copper Cable Glands, Zinc, Tin, Wheat, Rice, Whole
Wheat Atta, Suji / Rawa, Cattlefeed, Bran, Pulses and Confectionery Items. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 447000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having moderate track record. Profit and loss
account of the company is not available. Management denied
to disclose any information about the company. As per balance
sheet statement, the networth of the company seems good. Trade relations
are reported to be fair. Business is active. Payment terms are reported to be
slow but correct. 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 – 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.
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 BY
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-161-2843156 |
|
|
|
|
Name : |
Mr. Atul Jindal |
|
Designation : |
Director |
|
Contact No.: |
91-9814098247 |
|
Date : |
15.03.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Village and P.O.
Jandiali, Chandigarh Road, Ludhiana – 141 112, Punjab, India |
|
Tel. No.: |
91-161-2843156/ 2843247 |
|
Fax No.: |
91-161-2848566 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajinder Sandhu Ram Jindal |
|
Designation : |
Director |
|
Address : |
B-XX-2955, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
09.04.1947 |
|
Date of Appointment : |
17.02.1989 |
|
DIN No.: |
01860068 |
|
PAN No.: |
ABMPJ9085F |
|
|
|
|
Name : |
Ms. Usha Rajinder Jindal |
|
Designation : |
Director |
|
Address : |
B-XX-2955, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
01.10.1956 |
|
Date of Appointment : |
17.02.1989 |
|
DIN No.: |
01860096 |
|
PAN No.: |
AAZPJ9773G |
|
|
|
|
Name : |
Mr. Atul Rajinder Jindal |
|
Designation : |
Director |
|
Address : |
B-XX-2955, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
25.10.1977 |
|
Date of Appointment : |
01.02.2012 |
|
DIN No.: |
03475801 |
|
PAN No.: |
ACKPJ4006F |
KEY EXECUTIVES
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Rajinder Jindal |
358196 |
71.64 |
|
Usha Jindal |
97202 |
19.44 |
|
R.K. Jindal and Sons, India |
32601 |
6.52 |
|
Renu Goyal |
6001 |
1.20 |
|
Atul Jindal |
3500 |
0.70 |
|
Pooja Jindal |
1500 |
0.30 |
|
Payal Jindal |
1000 |
0.20 |
|
Total
|
500000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Copper and Copper Alloys, Copper and
Aluminium Wires/ Strips, DPC, DDC and Fibre Glass Strips, Brass Billets,
Copper Billets, Earthing Rods, Copper Cable Glands, Zinc, Tin, Wheat, Rice,
Whole Wheat Atta, Suji / Rawa, Cattlefeed, Bran, Pulses and Confectionery
Items. |
|
|
|
|
Products : |
AGRO PRODUCTS:- Wheat Flour ·
Whole Wheat
Atta ·
Wheat Flour
(Maida) ·
Hard Durum Wheat
Semolina (Suji) ·
Cattle feed ·
Bran METAL PRODUCTS:- 1) Brass / Copper Billets 2) Copper Based
Alloys ·
Gun Metal ·
Lead Bronze ·
Phosphor Bronze ·
Aluminium Bronze ·
High Tensile Brass 3) Copper Wires / Bus
bars / Strips ·
Nomax Covered
Round and Rectangular Copper / Aluminium Conductors ·
Paper Covered
Round and Rectangular Copper Conductors ·
Cotton Covered
Round and Rectangular Copper / Aluminum Conductors ·
Bare Round and
Rectangular Copper / Aluminium Conductors ·
Paper Covered
Round and Rectangular Aluminium Conductors ·
Nomax / Paper /
Cotton Insulated Twin / Triple / Bunched round and Rectangular Copper and
Aluminium Conductors. ·
Super Enamelled
Copper Wire
4) Earthing Rods 5) Aluminium Copper Cable
Glands. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Rajesh
Mehru and Company Chartered Accountants |
|
Address : |
2761/II,
Gurdev Nagar, Ludhiana, Punjab, India |
|
PAN No.: |
ABIPM4915B |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 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 |
5.000 |
2.561 |
2.561 |
|
(b) Reserves & Surplus |
103.946 |
66.241 |
58.149 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2.840 |
32.840 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
111.786 |
101.642 |
60.710 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
194.448 |
41.689 |
53.463 |
|
(b) Deferred tax liabilities (Net) |
1.858 |
1.920 |
1.460 |
|
(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) |
196.306 |
43.609 |
54.923 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
80.520 |
142.122 |
36.741 |
|
(b)
Trade payables |
59.194 |
182.918 |
106.608 |
|
(c)
Other current liabilities |
2.772 |
9.810 |
17.832 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
142.486 |
334.850 |
161.181 |
|
|
|
|
|
|
TOTAL |
450.578 |
480.101 |
276.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
92.345 |
89.981 |
53.191 |
|
(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 |
2.225 |
2.051 |
1.915 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
94.570 |
92.032 |
55.106 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
43.705 |
141.354 |
70.407 |
|
(c)
Trade receivables |
164.435 |
107.243 |
104.627 |
|
(d)
Cash and cash equivalents |
110.071 |
110.104 |
25.616 |
|
(e)
Short-term loans and advances |
37.797 |
29.368 |
21.058 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
356.008 |
388.069 |
221.708 |
|
|
|
|
|
|
TOTAL |
450.578 |
480.101 |
276.814 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.46
|
1.81 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
1.16 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
2.561 |
2.561 |
5.000 |
|
Reserves & Surplus |
58.149 |
66.241 |
103.946 |
|
Share
Application money pending allotment |
0.000 |
32.840 |
2.840 |
|
Net worth |
60.710 |
101.642 |
111.786 |
|
|
|
|
|
|
Long-term borrowings |
53.463 |
41.689 |
194.448 |
|
Short term borrowings |
36.741 |
142.122 |
80.520 |
|
Total borrowings |
90.204 |
183.811 |
274.968 |
|
Debt/Equity ratio |
1.486 |
1.808 |
2.460 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
No |
|
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 |
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 |
No |
Note:
The registered office of the company has been shifted from B-XX-2955, Gurdev Nagar, Ludhiana – 141 001, Punjab to the present address w.e.f. 30.03.2009.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U15311PB1989PTC009092 |
|
Name of the company
|
JINDAL AGRO MILLS PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Village and P.O.
Jandiali, Chandigarh Road, Ludhiana – 141 112, Punjab, India E-Mail: rajesh_mehru@yahoo.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others (Guarantee
on behalf of) |
|
Particular of
charge holder |
Punjab National Bank,
International Banking Branch, Ludhiana – 141 003, Punjab, India E-Mail: mohinder.singh@pnb.co.in |
|
Nature of
instrument creating charge |
Agreement of
guarantee |
|
Date of
instrument Creating the charge |
21.11.2013 |
|
Amount secured by
the charge |
Rs.300.000
millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of Interest: As Applicable Terms of
Repayment: As Applicable Margin: As Applicable Extent and Operation
of the charge: 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Factory Land and
Building situated at Village Jandiali, District Ludhiana, Wasika No.11551
dated 25.07.89 in the name of Jindal Agro Mills Private Limited. |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Vehicles
·
Office Equipment
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.61.05 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.84.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.