MIRA INFORM REPORT
|
Report No. : |
352155 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
J P EXTRUSIONTECH LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 1701, G.I.D.C. Industrial Estate, Ankleshwar –
393002, Gujarat |
|
Tel. No.: |
91-2646-221134/ 222163/ 251083/ 250194 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
06.04.2011 |
|
|
|
|
Com. Reg. No.: |
04-064803 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.705 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29291GJ2011PLC064803 |
|
|
|
|
IEC No.: |
3411000686 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BRDJ01776F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ5616Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Processing Machinery and Equipment. |
|
|
|
|
No. of Employees
: |
200 (In Office 30, In Factory 160 and In Branch 10) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
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 |
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|
|
|
Comments : |
Erstwhile established as a partnership firm in the year 1987 and later
it was converted into closely-held public limited company in April 2011 with
its present name. Rating remain constrained on account of volatility associated with raw
material prices and company’s modest financial risk profile marked by
declining profitability, moderate scale of operations, unfavorable gap
between its trade payable to its receivables and stretched liquidity
position. The ratings continue to derive strength from the long-standing track
of promoters, established operations in the plastic packaging equipment
industry, comfortable capital structure and debt coverage indicators. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. In view of aforesaid, 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
April 03, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
April 03, 2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Mehul |
|
Designation : |
Marketing Head |
|
Contact No.: |
91-9924823700 |
|
Date : |
07.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 1701, G.I.D.C. Industrial Estate, Ankleshwar –
393002, Gujarat, India |
|
Tel. No.: |
91-2646-221134/ 222163/ 251083/ 250194 |
|
Mobile No.: |
91-9924823700 (Mr. Mehul) |
|
Fax No.: |
91-2646-250196 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
35000 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Corporate Office : |
C1B - 1034 to 1037, GIDC Industrial Estate, Ankleshwar - 393002, Gujarat, India |
|
|
|
|
Branch Office : |
A-34, Virwani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-61363900 |
|
Fax No.: |
91-22-66978478 |
|
|
|
|
Other Branch Offices : |
Located at: · Indore · Kolkata · South India ·
Delhi |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Deepak Chhagan Patkar |
|
Designation : |
Director |
|
Address : |
1321, Jagannath Bhawan, GIDC, Ankleshwar - 393002,
Gujarat, India |
|
Date of Birth/Age : |
04.12.1973 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
00874712 |
|
|
|
|
Name : |
Mr. Dattatray Kashiram Patkar |
|
Designation : |
Director |
|
Address : |
1321, 22, 23, Jagannath Bhavan, Near Gil Colony, GIDC,
Ankleshwar - 393002, Gujarat, India |
|
Date of Birth/Age : |
08.04.1959 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
00972915 |
|
|
|
|
Name : |
Mr. Dnyaneshwar Jamu Dorik |
|
Designation : |
Director |
|
Address : |
J.P. Industries, Plot No.1701, G.I.D.C, Ankleshwar -
393002, Gujarat, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01598871 |
|
|
|
|
Name : |
Mr. Mahesh Jagannath Patkar |
|
Designation : |
Director |
|
Address : |
Plot No 401/2, Dorik Sadan, Near Gattu School, GIDC, Ankleshwar,
Bharuch - 393002, Gujarat, India |
|
Date of Birth/Age : |
31.05.1971 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01598983 |
|
|
|
|
Name : |
Mr. Vipul Jagannath Patkar |
|
Designation : |
Director |
|
Address : |
1/10, Durga Smriti, Ram Mandir Road, Babhai, Borivali
(West), Mumbai - 400092, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1968 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01599309 |
|
|
|
|
Name : |
Mr. Ramkrishna Jamu Dorik |
|
Designation : |
Whole-time director |
|
Address : |
R B L-11/B-9, Opposite Gattu School, G.I.D.C., Ankleshwar
Bharuch - 393002, Gujarat, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Qualification : |
B. Com, LLB |
|
Experience : |
30 Years |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01602033 |
|
|
|
|
Name : |
Mr. Pandurang Kashiram Patkar |
|
Designation : |
Whole-time director |
|
Address : |
Uday Colony Ral-1, GIDC, Ankleshwar Bharuch - 393002,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Qualification : |
Diploma Mech. |
|
Experience : |
28 Years |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01602123 |
|
|
|
|
Name : |
Mr. Nathu Jamu Dorik |
|
Designation : |
Whole-time director |
|
Address : |
Jagannath Bhavan, Plot No.1321, 1323, Near Gil Colony,
GIDC, Ankleshwar Bharuch - 393002, Gujarat, India |
|
Date of Birth/Age : |
01.01.1954 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
01602247 |
KEY EXECUTIVES
|
Name : |
Mr. Mehul |
|
Designation : |
Marketing Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nathubhai Jamubhai Dorik |
|
405000 |
|
Dattatray Kashiram Patkar |
|
272700 |
|
Ramkrishna Jamu Dorik |
|
387000 |
|
Pandurang Kashiram Patkar |
|
315900 |
|
Dnyaneshwar Jamu Dorik |
|
486000 |
|
Vipul Jagannath Patkar + Transmitted 188550 |
|
716850 |
|
Mahesh Jagannath Patkar + Transmitted 188550 |
|
716850 |
|
Deepak Chhaganbhai Patkar |
|
70200 |
|
Patkar Extrusiontech Limited |
|
1500000 |
|
|
|
|
|
Total |
|
4870500 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
30.79 |
|
Directors
or relatives of directors |
69.21 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Processing Machinery and Equipment. |
|
|
|
|
Brand Names : |
-- |
|
|
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|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Germany |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit [30 Days] |
|
|
|
|
Purchasing : |
L/C and Credit [30 Days and 60 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· Mitshubishi Electric Company Private Limited ·
ABC Company Limited
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Customers : |
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No. of Employees : |
200 (In Office 30, In Factory 160 and In Branch 10) (Approximately) |
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Bankers : |
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Facilities : |
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|
|
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Auditors : |
|
|
Name : |
G. N. Shah Associates Chartered Accountants |
|
Address : |
106-107, Vadilo Nu Ghar, Kasak Fuvara, Kasak, Bharuch – 392001,
Gujarat, India |
|
Mobile No.: |
91-9824152258 |
|
Fax No.: |
91-2646-225044 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AHXPS2658G |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises and companies over which key managerial personnel are able
to exercise significant influence : |
· Jaiko Industries · Jagnnath Extrusion Limited · Patkar Extrusiontech Limited · Prernadip Plastics Private Limited · Hariom Logistics · Jagnnath Extrusion India Limited · Dorik Plastopack Private Limited · Hariom Logistics |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 48.705 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,950,000 |
Equity Shares |
Rs. 10/- each |
Rs. 49.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,870,500 |
Equity Shares |
Rs. 10/- each |
Rs. 48.705
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
48.705 |
48.705 |
48.705 |
|
(b) Reserves & Surplus |
30.361 |
25.334 |
15.762 |
|
(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) |
79.066 |
74.039 |
64.467 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4.993 |
7.094 |
13.221 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
8.325 |
12.788 |
8.128 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
13.318 |
19.882 |
21.349 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
34.333 |
55.749 |
51.790 |
|
(b)
Trade payables |
143.714 |
143.389 |
124.810 |
|
(c)
Other current liabilities |
7.429 |
8.269 |
20.585 |
|
(d)
Short-term provisions |
8.091 |
14.602 |
5.211 |
|
Total
Current Liabilities (4) |
193.567 |
222.009 |
202.396 |
|
|
|
|
|
|
TOTAL |
285.951 |
315.930 |
288.212 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
122.914 |
130.582 |
129.827 |
|
(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 |
11.549 |
16.049 |
16.049 |
|
(c) Deferred tax assets
(net) |
2.557 |
0.927 |
0.787 |
|
(d) Long-term Loan
and Advances |
14.548 |
12.018 |
9.069 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
151.568 |
159.576 |
155.732 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
87.818 |
76.863 |
43.174 |
|
(c)
Trade receivables |
30.240 |
37.584 |
63.000 |
|
(d)
Cash and cash equivalents |
3.808 |
23.719 |
4.364 |
|
(e)
Short-term loans and advances |
12.517 |
18.188 |
21.942 |
|
(f)
Other current assets |
0.000 |
0.000 |
|
|
Total
Current Assets |
134.383 |
156.354 |
132.480 |
|
|
|
|
|
|
TOTAL |
285.951 |
315.930 |
288.212 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
519.976 |
602.879 |
606.327 |
|
|
|
Other Income |
4.357 |
1.875 |
2.133 |
|
|
|
TOTAL (A) |
524.333 |
604.754 |
608.460 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
387.693 |
456.211 |
432.640 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(15.274) |
(26.359) |
15.187 |
|
|
|
Employees benefits expense |
47.264 |
48.897 |
38.338 |
|
|
|
Other expenses |
71.319 |
85.532 |
78.888 |
|
|
|
TOTAL (B) |
491.002 |
564.281 |
565.053 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.331 |
40.473 |
43.407 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.246 |
8.625 |
9.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.085 |
31.848 |
34.315 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.687 |
17.391 |
17.825 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.398 |
14.457 |
16.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.371 |
4.884 |
5.543 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.027 |
9.573 |
10.947 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
26.663 |
31.236 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.03 |
1.97 |
2.25 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
8.269 |
14.211 |
|
|
|
|
|
|
Cash generated from operations |
NA |
63.183 |
30.587 |
|
|
|
|
|
|
Net Cash flow from operating activities |
NA |
58.158 |
24.828 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.97 |
1.59 |
1.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.41 |
6.71 |
7.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.72 |
4.84 |
6.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.20 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.50 |
0.96 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
0.70 |
0.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
48.705 |
48.705 |
48.705 |
|
Reserves & Surplus |
15.762 |
25.334 |
30.361 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
64.467 |
74.039 |
79.066 |
|
|
|
|
|
|
Long-term borrowings |
13.221 |
7.094 |
4.993 |
|
Short term borrowings |
51.790 |
55.749 |
34.333 |
|
Total
borrowings |
79.222 |
71.112 |
39.326 |
|
Debt/Equity ratio |
1.229 |
0.960 |
0.497 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
606.327 |
602.879 |
519.976 |
|
|
|
-0.569 |
-13.751 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
606.327 |
602.879 |
519.976 |
|
Profit |
10.947 |
9.573 |
5.027 |
|
|
1.81% |
1.59% |
0.97% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10288596 |
03/03/2015 * |
72,785,000.00 |
BANK OF BARODA |
ANKLESHWAR INDUSTRIAL
ESTATE BRANCH, G I D C INDUSTRIAL ESTATE, ANKLESHWAR, GUJARAT - 393002, INDIA |
C46717963 |
|
2 |
10288601 |
04/07/2015 * |
108,785,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE
BRANCH, GIDC INDUSTRIAL ESTATE, |
C60431533 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
|
|
|
|
Claims against the company not acknowledged as debt |
|
|
|
Guarantees given to Bank of Baroda for Jaiko Industries |
NA |
63.000 |
FIXED ASSETS:
· Land
· Computer
· Plant and Machinery
· Vehicle
· Tools and Spares
· Electrical Installation
· Office Equipment
· Building
· Furniture and Fixture
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. 66.80 |
|
|
1 |
Rs. 100.49 |
|
Euro |
1 |
Rs. 72.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
. |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.