MIRA INFORM REPORT

Report No. :	295305
Report Date :	12.01.2015

IDENTIFICATION DETAILS

Name :	JAISWALS OXIDES AND PIGMENTS CO PRIVATE LIMITED

Registered Office :	837, Block – P, New Alipore, Kolkata, West Bengal - 700053

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.07.1998

Com. Reg. No.:	21-087518

Capital Investment / Paid-up Capital :	Rs.4.900 Millions

CIN No.: [Company Identification No.]	U24221WB1998PTC087518

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AABCL7911A

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Ferro Vanadium

No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 14000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. Profitability of the company seems to be low during 2014. However, Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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 :	Mr. Anurag
Designation :	Account Department
Contact No.:	91-7759228419
Date :	16.12.2014

LOCATIONS

Registered Office :	837, Block – P, New Alipore, Kolkata, West Bengal – 700053, India
Mobile No.:	91-9301809363 / 9433127288 (Mr. Ashok Jaiswal)
E-Mail :	Jopl2007@rediffmail.com Abccompany68@yahoo.co.in Akm.2027@gmail.com
Website :	http://www.calcuttayellowpages.com

Factory 1 :	Plot No. 77, Industrial Area, Kharmara Road, Korba - 495677, Chhattisgarh, India
Tel. No.:	91-7759-228419

DIRECTORS

As on 30.09.2013

Name :

Ashok Kumar Jaiswal

Designation :

Managing director

Address :

837, Block – P, New Alipore, Kolkata, West Bengal – 700053, India

Date of Birth/Age :

03.10.1953

Date of Appointment :

16.07.1998

DIN No.:

00922235

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24221WB1998PTC087518	JAISWAL OXIDES & PIGMENTS CO PRIVATE LIMITED	Managing director	16-07-1998	16-07-1998	-	Active	NO
2	U29130WB2004PTC100763	JAISWAL BEARINGS PRIVATE LIMITED	Managing director	20-12-2004	20-12-2004	-	Active	NO

Name :

Saroj Jaiswal

Designation :

Director

Address :

837, Block – P, New Alipore, Kolkata, West Bengal – 700053, India

Date of Birth/Age :

07.11.1961

Date of Appointment :

16.07.1998

DIN No.:

00922321

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24221WB1998PTC087518	JAISWAL OXIDES & PIGMENTS CO PRIVATE LIMITED	Director	16-07-1998	16-07-1998	-	Active	NO
2	U29130WB2004PTC100763	JAISWAL BEARINGS PRIVATE LIMITED	Director	20-12-2004	20-12-2004	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age of Holding
Ashok Kumar Jaiswal	520	50.98
Saroj Jaiswal	500	49.02
Total	1020	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Ferro Vanadium

Products :	Iron Oxide Catalyst - for CO conversion Zinc Oxide - for use as Pigment and as Catalyst. Aluminium Metal powder - for use in Paints, Fireworks Oxides of Lead - for use in Automotive Battery and as Pigments.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash, Credit, Advance Payment and Cheque

Purchasing :	Cash, Credit, Advance Payment and Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers
Retailers
End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

45 (Approximately)

Bankers :

Bank Name	Allahabad Bank
Branch	Korba – 495681, Chhattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged


Banking Relations :	---

Auditors :
Name :	OJHA and Company Chartered Accountants
Address :	254 Co-Operative Colony, Bokaro Steel City - 827001, Jharkhand, India
Tel. No.:	91-6542-255094
PAN N Income-tax PAN of auditor or auditor's firm :	AACFO8219M

Memberships :	--

Collaborators :	--

Sister Concern :	Krishna Electrical Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

49000	Equity Shares	Rs.100/- each	Rs.4.900 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

49000	Equity Shares	Rs.100/- each	Rs.4.900 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	4.900	4.900	0.102
(b) Reserves & Surplus	0.159	0.084	0.073
(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)	5.059	4.984	0.175

(3) Non-Current Liabilities
(a) long-term borrowings	20.827	21.558	26.726
(b) Deferred tax liabilities (Net)	0.021	0.000
(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)	20.848	21.558	26.726

(4) Current Liabilities
(a) Short term borrowings	11.016	0.875	0.000
(b) Trade payables	8.297	12.992	0.000
(c) Other current liabilities	0.000	0.399	0.354
(d) Short-term provisions	0.017	0.033	0.036
Total Current Liabilities (4)	19.330	14.299	0.390

TOTAL	45.237	40.841	27.291

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.559	8.629	9.669
(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
(v) Preliminery Expenses	1.143	1.524	1.905
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.012	0.012	0.976
Total Non-Current Assets	8.714	10.165	12.550

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	21.659	25.937	13.903
(c) Trade receivables	14.589	2.590	0.000
(d) Cash and cash equivalents	0.022	0.394	0.599
(e) Short-term loans and advances	0.239	0.239	0.000
(f) Other current assets	0.014	1.516	0.239
Total Current Assets	36.523	30.676	14.741

TOTAL	45.237	40.841	27.291

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	50.125	22.961
	Other Income	0.000	0.000
	TOTAL	50.125	22.961

Less	EXPENSES
	Cost of Materials Consumed	67.680	46.163
	Legal and Others	0.210	0.005
	Rent	0.081	0.000
	Miscellaneous Expenditure	0.488	0.392
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(21.659)	(25.937)	NA
	Employees benefits expense	0.778	0.702
	Other expenses	0.172	0.215
	TOTAL	47.750	21.540

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2.375	1.421

Less	FINANCIAL EXPENSES	1.196	0.007

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1.179	1.414	1.465

Less	DEPRECIATION/ AMORTISATION	1.070	1.400	1.385

	PROFIT/ (LOSS) BEFORE TAX	0.109	0.014	0.080

Less	TAX	0.034	0.004	0.007

	PROFIT/ (LOSS) AFTER TAX	0.075	0.010	0.073

	Earnings / (Loss) Per Share (Rs.)	1.53	0.20	1.49

The above information has been parted by Mr. Anurag (Accounts Department)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.15	0.04	0.000

Operating Profit Margin (PBIDT/Sales)	(%)	4.74	6.19	0.000

Return on Total Assets (PBT/Total Assets}	(%)	0.25	0.04	0.32

Return on Investment (ROI) (PBT/Networth)		0.02	0.00	0.46

Debt Equity Ratio (Total Debt /Networth)		6.29	4.50	152.72

Current Ratio (Current Asset/Current Liability)		1.89	2.15	37.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.102	4.900	4.900
Reserves & Surplus	0.073	0.084	0.159
Net worth	0.175	4.984	5.059

long-term borrowings	26.726	21.558	20.827
Short term borrowings	0.000	0.875	11.016
Total borrowings	26.726	22.433	31.843
Debt/Equity ratio	152.720	4.501	6.294

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	No
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
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	No
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10424040	29/03/2014 *	11,000,000.00	ALLAHABAD BANK	2, NETAJI SUBHAS ROAD, KOLKATA, West Bengal - 7000 01, INDIA	C07623143

FIXED ASSETS

Land and Building
Plant and Machinery and Factory Shed
Plant and Machinery
Laboratory Equipment’s
Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.62.40
UK Pound	1	Rs.94.17
Euro	1	Rs.73.61

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	RAS

Report Prepared by :	NKT

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
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		26

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

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