MIRA INFORM REPORT

 

 

Report No. :

326655

Report Date :

11.06.2015

 

IDENTIFICATION DETAILS

 

Name :

JANAKEE INDUSTRIAL PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

Plot No.84, Bhagbanpur Industrial Estate, Khandagiri, Khurda, Bhubaneswar – 751 019, Orissa

Tel. No.:

91-674-2549636

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

04.07.2005

 

 

Com. Reg. No.:

15-008233

 

 

Capital Investment / Paid-up Capital :

Rs.1.400 million

 

 

CIN No.:

[Company Identification No.]

U21019OR2005PTC008233

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of industrial products like paper tubes, paper cores, paper cartoon and other allied industrial products including thermocouple.

 

 

No. of Employees :

Information declined by the Management.

 

 

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

 

Status :

Small Business

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a very small private limited company established in the year 2005.

 

As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to financials are not available from any sources.

 

As per financials of 2013, the company has below average financial risk profile backed by low reserves.

 

There seems unfavorable gap between trade payables and trade receivables, further cash balance also reported to be low that may impact its liquidity positions.

 

Further, company has recorded minimal sales turnover and profit figures in FY 13.

 

However, trade relations are fair. Business is active. Payment terms are 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 – 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

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 31-03-2013.

 

INFORMATION PARTED BY (PARTIAL DETAILS)

 

Name :

Mr. Priyadarshi Nayak

Designation :

Director

Contact No.:

91-9338843388

Date :

09.06.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No.84, Bhagbanpur Industrial Estate, Khandagiri, Khurda, Bhubaneswar – 751 019, Orissa, India

Tel. No.:

91-674-2549636/ 37/ 3209862

Mobile No.:

91-9338843388 (Mr. Priyadarshi Nayak)

Fax No.:

Not Available

E-Mail :

janakee_ippl@yahoo.co.in

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Jayadarshi Nayak

Designation :

Managing Director

Address :

Plot No.32, Patrapara, Bhubaneswar – 751 019, Orissa, India

Date of Birth/Age :

15.07.1980

Date of Appointment :

04.07.2005

DIN No.:

00911903

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

U21019OR2005PTC008233

JANAKEE INDUSTRIAL PRODUCTS PRIVATE LIMITED

Managing director

04/07/2005

04/07/2005

-

Active

NO

2

U74140OR2008PTC010285

JANAKEE CONSULTANCY SERVICES PRIVATE LIMITED

Managing director

28/08/2008

28/08/2008

-

Active

NO

3

U21090OR2010PTC011900

DASARATH NAYAK MULTIPRODUCTS PRIVATE LIMITED

Director

26/04/2010

26/04/2010

-

Active

NO

 

 

Name :

Mr. Priyadarshi Nayak

Designation :

Director

Address :

Plot No.32, Patrapara, Bhubaneswar – 751 019, Orissa, India

Date of Birth/Age :

20.06.1974

Date of Appointment :

13.09.2006

DIN No.:

00694212

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

U21019OR2005PTC008233

JANAKEE INDUSTRIAL PRODUCTS PRIVATE LIMITED

Director

13/09/2006

13/09/2006

-

Active

NO

2

U74140OR2008PTC009879

SUMAN PROFESSIONALS PRIVATE LIMITED

Director

19/03/2008

19/03/2008

-

Active

NO

3

U74140OR2008PTC010285

JANAKEE CONSULTANCY SERVICES PRIVATE LIMITED

Director

28/08/2008

28/08/2008

-

Active

NO

4

U21090OR2010PTC011900

DASARATH NAYAK MULTIPRODUCTS PRIVATE LIMITED

Director

26/04/2010

26/04/2010

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Jayadarshi Nayak

3950

18.81

Priyadarshi Nayak

3500

16.67

Janaki Mallick

11550

55.00

Samal Kumar Samal

2000

9.52

Total

21000

100.00

 

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of industrial products like paper tubes, paper cores, paper cartoon and other allied industrial products including thermocouple.

 

 

Products :

·         Composite Cans

·         Paper Cores

·         Paper Tubes

·         Paper Tube

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit 

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers (As on 31.03.2013) :

Reference :

Ascent Industries Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

·         K.U. Sodalmuthu and Co. Private Limited

·         Pondicherry Straw Board Mills Private Limited

·         Utkal Detergent

·         Pujitha Industries

 

 

Customers (As on 31.03.2013) :

Wholesalers and Retailers

 

Reference :

Mack Engineers

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

·         Sunitech Private Limited

·         Universal Carbon Brushes

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

SMECCC, Unit-1, Bhubaneswar – 751 001, Orissa, 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

 

Axis Bank Limited

 

 

Facilities :

Secured Loans

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term Loan

 

 

- From Bank

0.840

1.275

SHORT TERM BORROWINGS

 

 

Loans repayable in Demand

 

 

- From Bank

3.312

3.485

Total

4.152

4.760

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S.K. Rout and Associates

Chartered Accountants

Address :

D-401, Okilbaag Enclave, Laxmisagar, Bhubaneswar – 751 006, Orissa, India

Mobile No.:

91-9437363640

PAN N Income-tax PAN of auditor or auditor's firm :

AICPR7873E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

22000

Equity Shares

Rs.100/- each

Rs.2.200 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

21000

Equity Shares

Rs.10/- each

Rs.2.100 million

 

 

 

 

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

14000

Equity Shares

Rs.100/- each

Rs.1.400 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

14000

Equity Shares

Rs.100/- each

Rs.1.400 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

1.400

1.400

1.000

(b) Reserves & Surplus

0.800

0.800

0.000

(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)

2.200

2.200

1.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

2.716

3.263

4.376

(b) Deferred tax liabilities (Net)

0.000

0.000

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)

2.716

3.263

4.376

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.312

3.485

3.540

(b) Trade payables

1.603

1.180

0.543

(c) Other current liabilities

0.029

0.000

0.000

(d) Short-term provisions

0.165

0.056

0.096

Total Current Liabilities (4)

5.109

4.721

4.179

 

 

 

 

TOTAL

10.025

10.184

9.555

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5.122

3.135

2.828

(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

2.070

2.070

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.052

0.125

0.052

(e) Profit & Loss A/c

0.116

0.165

0.229

Total Non-Current Assets

5.290

5.495

5.179

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments & Short term advances

0.583

0.000

0.000

(b) Inventories

3.247

3.208

3.196

(c) Trade receivables

0.902

1.472

1.178

(d) Cash and cash equivalents

0.003

0.009

0.002

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

4.735

4.689

4.376

 

 

 

 

TOTAL

10.025

10.184

9.555

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

7.919

11.183

8.010

 

 

Other Income

0.000

0.017

0.019

 

 

TOTAL                                    

7.919

11.200

8.029

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

NA

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Debt Equity Ratio

(Total Debt /Networth)

 

2.74

3.07

7.92

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.93

0.99

1.05

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.000

1.400

1.400

Reserves & Surplus

0.000

0.800

0.800

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1.000

2.200

2.200

 

 

 

 

Long-term borrowings

4.376

3.263

2.716

Short term borrowings

3.540

3.485

3.312

Total borrowings

7.916

6.748

6.028

Debt/Equity ratio

7.916

3.067

2.740

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations

8.010

11.183

7.919

 

 

39.613

(29.187)

 

 

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

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)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

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

No

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

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

 

UNSECURED LOAN

 

Particulars

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Loans and Advances from Related Parties

1.731

1.843

Loans from Directors

0.145

0.145

Total

1.876

1.988

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90082101

02/09/2013 *

3,801,000.00

STATE BANK OF INDIA

SMECCC, ZONAL OFFICE, UNIT-I, BHUBANESWAR, ORISSA - 751009, INDIA

B85196673

 

* Date of charge modification

 

FIXED ASSETS

 

·         Land

·         Industrial Plot

·         Buildings

·         Plant and Equipments

·         Furniture and Fixtures

·         Vehicles (Cars)

·         Computer Equipments

·         Electrical Equipments

 

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.63.88

UK Pound

1

Rs.98.47

Euro

1

Rs.72.15    

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

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

--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

NO

--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.