MIRA INFORM REPORT
|
Report No. : |
356239 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAYA HIND INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
JAYA HIND INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mumbai Pune Road, Pune-411035, Maharashtra |
|
Tel. No.: |
91-20-27473981 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.01.1947 |
|
|
|
|
Com. Reg. No.: |
11-005480 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1450.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN1947PLC005480 |
|
|
|
|
IEC No.: |
0388012048 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ05073F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4268Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Complex Cast Aluminium Components. (Confirmed by
Management) |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an old and established company incorporated in the year 1947
having fine track record. It is engaged in manufacturing automobile parts and
equipment. Its products include cylinder block, cylinder head, bed plates,
transmission housings, oil plans, cam carriers, cylinder head, crank cases
and other auto components. As per Registrar of Companies, the date of balance sheet (i.e.
financial field) is shown as 31.03.2015 but the documents related to the
financials are not available from any source. Further, as per FY 2014 financials, the company has reported decline
in its total revenue by 15.41% which further resulted to decline in net
profitability by 40.79%. However, it has healthy financial risk profile
marked by an adequate capital structure, comfortable liquidity position and
strong debt protection metrics. Further, the rating takes into account of company’s long track record
of operations, established market position in auto and auto components
industries and established relationships with its key customers. These rating strengths are partially offset by moderate scale of
operations and risks related to cyclicality in demand in the automobile
(auto) industry. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities=A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
24.09.2015 |
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. Balkrishna Sahasrabudhe |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-20-27473981 |
|
Date : |
21.12.2015 |
LOCATIONS
|
Registered Office : |
Mumbai Pune Road, Pune-411035, Maharashtra, India |
|
Tel. No.: |
91-20-27473981 |
|
Fax No.: |
91-20-27474827 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
Location : |
Industrial |
|
|
|
|
Factory 1 : |
Urse, Taluka Maval, District Pune-410506, Maharashtra, India |
|
Tel. No.: |
91-2114-237071/ 73 |
|
Fax No.: |
91-2114-237072 |
|
|
|
|
Factory 2 : |
Plot No. 04, Sector 01, Pithampura District, Dhar-452002, Madhya
Pradesh, India |
|
Tel. No.: |
91-7292-305051 |
|
Fax No.: |
91-7292-308025/ 26 |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Abhaykumar Navalmal Firodia |
|
Designation : |
Managing Director |
|
Address : |
Sanmitra, 132 /B, Ganeshkhind Road, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
05.11.1944 |
|
Qualification : |
B.A.
(Hons.) |
|
Date of Appointment : |
24.09.2004 |
|
PAN No.: |
AAAPF9096K |
|
DIN No.: |
00025179 |
|
|
|
|
Name : |
Mr. Mohanlal Girdharilal Chopda |
|
Designation : |
Director |
|
Address : |
12, Bhosale Nagar, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1945 |
|
Qualification : |
Draughtsman-Mechnical
Diploma |
|
Date of Appointment : |
24.09.2004 |
|
DIN No.: |
00040868 |
|
|
|
|
Name : |
Mr. Pradeep Kanakmal Munot |
|
Designation : |
Director |
|
Address : |
427, Gultekadi, Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1948 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
07.10.2005 |
|
DIN No.: |
00044924 |
|
|
|
|
Name : |
Mr. Sunanda Sudhir Mehta |
|
Designation : |
Director |
|
Address : |
Plot No. 26, Yashwant Ghatagenagar Co Operative Society, Pune-411007,
Maharashtra, India |
|
Date of Birth/Age : |
07.07.1971 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
27.09.2005 |
|
PAN No.: |
AAXPM6063E |
|
DIN No.: |
00289624 |
|
|
|
|
Name : |
Mr. Shribala Sagar Chordia |
|
Designation : |
Director |
|
Address : |
Building A 1002, Silver Woods,, North Main Road, Koreaon Park,
Pune-411036, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1974 |
|
Qualification : |
B.Com,
Diploma in Marketing |
|
Date of Appointment : |
27.09.2005 |
|
PAN No.: |
AALPC8151D |
|
DIN No.: |
00041557 |
|
|
|
|
Name : |
Mr. Harsha Abhaykumar Firodia |
|
Designation : |
Director |
|
Address : |
L-19, Green Park Main, New Delhi-110016, India |
|
Date of Birth/Age : |
18.07.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.09.2003 |
|
PAN No.: |
AAAPF9095L |
|
DIN No.: |
00346134 |
|
|
|
|
Name : |
Mr. Prasan Abhaykumar Firodia |
|
Designation : |
Managing director |
|
Address : |
Sanmitra,132-B, Ganeshkhind Road, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
16.02.1979 |
|
Qualification : |
B.B.A |
|
Date of Appointment : |
24.09.2004 |
|
PAN No.: |
AADPF4269R |
|
DIN No.: |
00029664 |
|
|
|
|
Name : |
Mr. Shyamala Navlakha |
|
Designation : |
Director |
|
Address : |
M-56, Greater Kailash, Part-I, New Delhi-110048, India |
|
Date of Birth/Age : |
28.08.1938 |
|
Qualification : |
B.
Sc (Home Science) |
|
Date of Appointment : |
24.09.2004 |
|
PAN No.: |
AAEPN3391F |
|
DIN No.: |
00188287 |
|
|
|
|
Name : |
Mrs. Indira Abhaykumar Firodia |
|
Designation : |
Director |
|
Address : |
Sanmitra,132/ B, Ganeshkhind Road,, Pune, 411007, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1949 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
30.09.2003 |
|
PAN No.: |
AADPF4270A |
|
DIN No.: |
00035115 |
|
|
|
|
Name : |
Mr. Mohindar Singh Bhogal |
|
Designation : |
Whole-time director |
|
Address : |
Plot No. 475 Sec - 25, Pcnt Nigadi, Pune-411044, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1945 |
|
Qualification : |
Draughtsman-Mechnical
Diploma |
|
Date of Appointment : |
10.01.2007 |
|
PAN No.: |
AANPB7261P |
|
DIN No.: |
01303503 |
|
|
|
|
Name : |
Mr. Kundanlal Chunilal Khinvasara |
|
Designation : |
Director |
|
Address : |
446, Gokhale Road, Shivajinagar, Pune, 411005, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1937 |
|
Qualification : |
B.E.
(Civil) |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
02399809 |
KEY EXECUTIVES
|
Name : |
Ms. Manali Yogesh Patwardhan |
|
Designation : |
Secretary |
|
Address : |
202, Waman Sahaniwas Co-Operative Housing Society, Cummins College
Road Karve Nagar, Pune-411052, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1983 |
|
Date of Appointment : |
01.09.2010 |
|
PAN No.: |
AGXPG0276F |
|
|
|
|
Name : |
Mr. Balkrishna Sahasrabudhe |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
53.52 |
|
Directors
or relatives of directors |
46.31 |
|
Other
top fifty shareholders |
0.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Complex Cast Aluminium Components. (Confirmed by
Management) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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|
Countries : |
· China · South East Asia · Far East · Germany |
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Imports : |
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|
Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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|
Selling : |
Cash and Credit (30 days, 60 days and 90 days) |
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|
Purchasing : |
Cash and Credit (30 days, 60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· Allison Transmission |
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|
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|
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|
Customers : |
End Users and OEMs
· Hindustan Motors |
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No. of Employees : |
500 (Approximately) |
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|
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|
Bankers : |
·
State Bank of India Industrial Finance
Branch, Tara Chambers, Wakadewadi, Pune - 411003, Maharashtra, India ·
Canara Bank Pimpri
Branch, Station Road, Pimpri, Pune - 411018, Maharashtra, India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.
G. Bhagwat Chartered Accountants |
|
Address : |
Suite
No 102, Orchard, Dr. Pai Marg, Baner, Pune-411045, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0762E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Other Related Parties : |
·
Pinnacle Industries Limited, India
(U50300PN1996PLC100600) ·
Force Motors Limited, India
(L34102PN1958PLC011172) ·
Jaya Hind Montupet Private Limited, India
(U35122PN2013PTC149572) |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital : Rs. 1550.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1200.000
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 800.000 Million |
|
75,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 750.000 Million |
|
|
Total |
|
Rs. 1550.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 800.000
Million |
|
65,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 650.000
Million |
|
|
Total |
|
Rs. 1450.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1450.000 |
1450.000 |
1450.000 |
|
(b) Reserves & Surplus |
559.697 |
324.871 |
(113.710) |
|
(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) |
2009.697 |
1774.871 |
1336.290 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
401.892 |
542.256 |
521.155 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
192.583 |
122.740 |
110.944 |
|
(d)
long-term provisions |
16.550 |
26.231 |
24.393 |
|
Total
Non-current Liabilities (3) |
611.025 |
691.227 |
656.492 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
250.767 |
322.704 |
|
(b)
Trade payables |
563.828 |
566.621 |
594.035 |
|
(c)
Other current liabilities |
155.275 |
282.626 |
384.891 |
|
(d)
Short-term provisions |
70.363 |
69.692 |
4.433 |
|
Total
Current Liabilities (4) |
789.466 |
1169.706 |
1306.063 |
|
|
|
|
|
|
TOTAL |
3410.188 |
3635.804 |
3298.845 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2012.448 |
1888.428 |
1683.546 |
|
(ii)
Intangible Assets |
17.966 |
24.048 |
34.796 |
|
(iii)
Capital work-in-progress |
27.100 |
419.266 |
220.832 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
45.943 |
3.377 |
3.377 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
26.797 |
52.787 |
56.614 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2130.254 |
2387.906 |
1999.165 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
473.086 |
453.103 |
410.460 |
|
(c)
Trade receivables |
667.426 |
663.530 |
753.759 |
|
(d)
Cash and cash equivalents |
30.143 |
5.810 |
2.842 |
|
(e)
Short-term loans and advances |
108.993 |
125.276 |
132.261 |
|
(f)
Other current assets |
0.286 |
0.179 |
0.358 |
|
Total
Current Assets |
1279.934 |
1247.898 |
1299.680 |
|
|
|
|
|
|
TOTAL |
3410.188 |
3635.804 |
3298.845 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3863.013 |
4519.592 |
4146.709 |
|
|
|
Other Income |
294.785 |
395.695 |
38.790 |
|
|
|
TOTAL |
4157.798 |
4915.287 |
4185.499 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2078.531 |
2404.524 |
2406.191 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(12.746) |
36.066 |
(38.314) |
|
|
|
Employees benefits expense |
545.306 |
622.236 |
533.443 |
|
|
|
Other expenses |
882.336 |
1002.681 |
870.466 |
|
|
|
TOTAL |
3493.427 |
4065.507 |
3771.786 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
664.371 |
849.780 |
413.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
70.433 |
92.218 |
119.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
593.938 |
757.562 |
294.487 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
329.851 |
286.220 |
261.510 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
41.979 |
56.729 |
35.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
306.066 |
528.071 |
68.628 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.402 |
28.653 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
295.664 |
499.418 |
68.628 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
222.696 |
255.894 |
201.746 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
370.606 |
446.911 |
400.306 |
|
|
|
Components
and Spare Parts |
113.608 |
144.436 |
120.287 |
|
|
|
Capital Goods |
48.229 |
318.802 |
32.246 |
|
|
TOTAL IMPORTS |
532.443 |
910.149 |
552.839 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.70 |
6.24 |
0.92 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
409.827 |
414.880 |
285.954 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.65 |
11.05 |
1.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.20 |
18.80 |
9.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.17 |
16.43 |
2.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.30 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20 |
0.45 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.07 |
1.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1450.000 |
1450.000 |
1450.000 |
|
Reserves & Surplus |
-113.710 |
324.871 |
559.697 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1336.290 |
1774.871 |
2009.697 |
|
|
|
|
|
|
Long-term borrowings |
521.155 |
542.256 |
401.892 |
|
Short term borrowings |
322.704 |
250.767 |
0.000 |
|
Total
borrowings |
843.859 |
793.023 |
401.892 |
|
Debt/Equity
ratio |
0.631 |
0.447 |
0.200 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4146.709 |
4519.592 |
3863.013 |
|
|
|
8.992 |
(14.527) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4146.709 |
4519.592 |
3863.013 |
|
Profit |
68.628 |
499.418 |
295.664 |
|
|
1.65% |
11.05% |
7.65% |
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 |
No |
|
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 |
Yes |
|
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No.:- STRL/71/2009 Filing
Date:- 26.05.2009 Reg. No.:- STR/47/2010 Reg.
Date:- 11.08.2010 |
|
Petitioner: THE COMMISSIONER OF SALES TAX, MUMBAI Respondent: JAYA HIND
INDUSTRIES LIMITED Petn. Adv : SALES TAX TRIBUNAL (0) District: BOMBAY |
|
Bench: DIVISION Status: Pre-Admission
Category: SALES TAX
REFERENCES. Last Date: 01.12.2009 Stage: SALES TAX REFERENCES FOR REJECTIONS
U/R 986 OF THE H.C.(O.S.) RULES 1980
Last Coram: REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80052456 |
08/02/2012 * |
738,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS,, WAKADE WADI, PUNE- 411003, MAHARASHTRA, INDIA |
B33793191 |
|
2 |
90083650 |
17/10/1993 * |
4,000,000.00 |
GRINDLAYS BANK |
90; MAHATMA GANDHI
ROAD, BOMBAY- 400 |
- |
|
3 |
90083595 |
01/03/1989 |
8,000,000.00 |
GRINDLAYS BANK |
90; MAHATMA GANDHI
ROAD, BOMBAY- 400 |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax loan |
118.967 |
129.581 |
|
Deposits from others |
282.925 |
412.675 |
|
|
|
|
|
Total |
401.892 |
542.256 |
OPERATIONS:
The charge of depreciation stands
increased from Rs. 286.220 Million for 2012-13 to Rs. 329.851 Million for the
year 2013-14 representing an additional charge to the Profit and Loss Account
of Rs. 43.631 Million.
The Company has achieved
total revenue of Rs. 4157.798 Million during the financial year 2013-2014 which
is less by 15.42% compared to the financial year 2012-2013. This drop in
turnover can be directly attributed to extremely sluggish automotive market,
loss of investors' faith in economy and resultant holding back of investment
decisions. Despite this macro-economic set back, the year has been quite
eventful for the Company. One of the most significant achievements during this
year was formalization of Joint Venture with Montupet S. A. of France for
development and manufacturing of automotive cylinder heads.
The
Company has been able to achieve additional orders from its customer's during
the year.
The
Company continues to enjoy a strong patronage from its customers. The Company
has received two awards from two major OEMs.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other 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. 66.20 |
|
|
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
50 |
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.