MIRA INFORM REPORT
|
Report No. : |
302336 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAYDIP AGENCIES |
|
|
|
|
Registered
Office : |
311-312, E-Square, 3rd Floor, Subhash Road, Vile Parle
(East), Mumbai – 400057, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
1981 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.111.500 Millions (As on 31.03.2013) |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader and Importer of Chemicals. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 : |
Clear |
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|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. The turnover achieved by the concern is decent. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct and as per commitment. The concern can be considered normal 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Preeti |
|
Designation : |
Import Executive |
|
Contact No.: |
91-22-26191367 |
|
Date : |
07.01.2015 |
LOCATIONS
|
Registered Office : |
311-312, E-Square, 3rd Floor, Subhash Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
Tel. No.: |
91-22-26191367/ 26116183/ 23192049/ 26192049 |
|
Mobile No.: |
91-9820510873 (Mr. Jayesh Mehta) |
|
Fax No.: |
91-22-26192347 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch Office : |
605, Supath, 6th Floor, Vijay Char Rasta, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26561015 |
|
Fax No.: |
91-79-26402918 |
|
E mail: |
|
|
Area: |
500 Sq. ft. |
|
Location: |
Rented |
PARTNERS
|
Name : |
Mr. Jayesh Mehta |
|
Designation : |
Partner |
|
Address : |
602, Tirupati Apartments, Azad Nagar Society, J.V.P.D. Scheme, Road
No. 1, Vile Parle (West), Mumbai-400056, |
|
Date of Birth/Age : |
01.12.1962 |
|
Qualification : |
B.Com |
|
|
|
|
Name : |
Mrs. Zarna Mehta |
|
Designation : |
Partner |
|
Address : |
602, Tirupati Apartments, Azad Nagar Society, J.V.P.D. Scheme, Road
No. 1, Vile Parle (West), Mumbai-400056, |
|
Date of Birth/Age : |
05.03.1965 |
|
Qualification : |
B.Com |
KEY EXECUTIVES
|
Name : |
Ms. Preeti |
|
Designation : |
Import Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Chemicals. |
|
|
|
|
Products : |
Ø
Glycerin Ø
Filter Aid Powder Ø
Aniline Oil Ø
Di Methyl Sulphate Ø
Petrolium Ether Ø
Di Methyl Formamide Ø
Mebendazole Ø
Pthalic Anhydride
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
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Exports : |
Not Divulged |
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|
|
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
Ø China Ø Malaysia Ø Taiwan Ø Korea Ø Holland Ø Indonesia |
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|
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Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit – Rs.180.000 Millions |
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ketan Mehta and Associates Chartered Accountants |
|
Address : |
8, Bharat House, 104, Mumbai Samachar Marg, Fort, Mumbai – 400023,
Maharashtra, India |
|
Tel. No.: |
91-22-22626094 |
|
Fax No.: |
91-22-22626094 |
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E-Mail : |
|
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|
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|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
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|
Sister Concern: |
Not Available |
CAPITAL STRUCTURE
(AS ON 31.03.2013)
|
Capital Investment : |
|
|
Owned : |
Rs.111.500 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.111.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital Account |
111.500 |
83.748 |
87.804 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
111.500 |
83.748 |
87.804 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
23.219 |
24.838 |
25.057 |
|
|
TOTAL BORROWING |
23.219 |
24.838 |
25.057 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
134.719 |
108.586 |
112.861 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.810 |
1.784 |
2.167 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.924 |
41.965 |
55.403 |
|
|
Sundry Debtors |
260.387
|
188.347 |
151.547 |
|
|
Cash & Bank Balances |
3.085
|
2.175 |
1.132 |
|
|
Other Current Assets |
7.307
|
8.222 |
12.792 |
|
|
Loans & Advances |
9.885
|
26.797 |
23.083 |
|
Total
Current Assets |
320.588
|
267.506 |
243.957 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
149.256
|
103.628 |
97.003 |
|
|
Other Current Liabilities |
38.882
|
57.565 |
36.565 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
188.138
|
161.193 |
133.568 |
|
|
Net Current Assets |
132.450
|
106.313 |
110.389 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Prepaid Expenses |
0.459 |
0.489 |
0.305 |
|
|
|
|
|
|
|
|
TOTAL |
134.719 |
108.586 |
112.861 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1364.533 |
1115.391 |
1022.428 |
|
|
|
Other Income |
1.832 |
1.182 |
4.490 |
|
|
|
TOTAL (A) |
1366.365 |
1116.573 |
1026.918 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1257.219 |
1027.149 |
926.859 |
|
|
|
Carriage Inward |
1.207 |
2.034 |
1.200 |
|
|
|
Freight, Octroi and Clearing |
20.763 |
18.631 |
17.414 |
|
|
|
Labour Charges |
0.013 |
0.032 |
0.052 |
|
|
|
Packing Charges |
0.000 |
0.029 |
0.000 |
|
|
|
Sales Tax |
0.024 |
0.019 |
0.004 |
|
|
|
Salaries and Bonus |
4.388 |
4.040 |
2.884 |
|
|
|
Staff Welfare Expenses |
0.175 |
0.164 |
0.177 |
|
|
|
Printing and Stationery Expenses |
0.162 |
0.116 |
0.136 |
|
|
|
Postage and Telephone Expenses |
0.460 |
0.474 |
0.432 |
|
|
|
Conveyance |
0.186 |
0.126 |
0.231 |
|
|
|
Carriage Outward |
1.037 |
5.983 |
7.160 |
|
|
|
Remuneration to Partner |
9.000 |
0.000 |
0.000 |
|
|
|
Loading and Unloading Charges |
2.004 |
1.919 |
1.382 |
|
|
|
Donation |
0.005 |
0.039 |
0.069 |
|
|
|
Other Expenses |
48.343 |
44.027 |
958 |
|
|
|
TOTAL |
1344.986 |
1104.782 |
1009.145 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.379 |
11.791 |
17.773 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.419 |
0.364 |
0.434 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
20.960 |
11.427 |
17.339 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1390.000 |
Expected Sales (2014-2015) : Rs.1450.000 Millions
The above information has been parted by Ms. Preeti.
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
1.54 |
1.02 |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.50
|
4.24 |
7.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.14 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21
|
0.30 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.66 |
1.83 |
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 |
87.804 |
83.748 |
111.500 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
87.804 |
83.748 |
111.500 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
25.057 |
24.838 |
23.219 |
|
Total
borrowings |
25.057 |
24.838 |
23.219 |
|
Debt/Equity
ratio |
0.285 |
0.297 |
0.208 |
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 |
1022.428 |
1115.391 |
1364.533 |
|
|
|
9.092 |
22.337 |
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 |
1022.428 |
1115.391 |
1364.533 |
|
Profit |
17.339 |
11.427 |
20.960 |
|
|
1.70% |
1.02% |
1.54% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
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.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.