MIRA INFORM REPORT
|
Report No. : |
348862 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAIN CORRUGATORS PRIVATE LIMITED (w.e.f. 24.12.2013) |
|
|
|
|
Formerly known
as : |
DECENT CONTAINERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2156, Eldeco County, Sonipat – 131001, Haryana |
|
Mobile No.: |
91-9711806577 (Mr. Naveen) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
02.06.2010 |
|
|
|
|
Com. Reg. No.: |
05-203578 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.835 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21020DL2010PTC203578 |
|
|
|
|
IEC No.: |
0510088538 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD12538B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCD4769K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and exporting of corrugator boxes. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a small company incorporated in the year 1982 with the name
of “Decent Containers Private Limited” and later, on December, 2013 the name
of the company has been changed to the current name. Its scale of activities
are limited. The company has reported minimal sales turnover from its modest scale
of operations along with thin profit margin in FY14. Trade relations are fair. Business is active. Payment terms 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
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Naveen Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9711806577 |
|
Date : |
07.11.2015 |
LOCATIONS
|
Registered Office : |
2156, Eldeco County, Sonipat – 131001, Haryana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9711806577 (Mr. Naveen) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
Plot No. 370-371-372, HSIIDC, Barhi, Industrial Area, Sonipat –
131001, Haryana, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Naveen Jain |
|
Designation : |
Director |
|
Address : |
2284, Sector-12, Sonepat - 131001, Haryana, India |
|
Date of Birth/Age : |
27.07.1977 |
|
Date of Appointment : |
02.06.2010 |
|
DIN No.: |
00123310 |
|
|
|
|
Name : |
Mr. Shelly Jain |
|
Designation : |
Director |
|
Address : |
2284, Sector-12, Sonepat - 131001, Haryana, India |
|
Date of Birth/Age : |
29.08.1977 |
|
Date of Appointment : |
15.11.2013 |
|
DIN No.: |
03061769 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Naveen Jain |
30000 |
35.93 |
|
Suman Jain |
30000 |
35.93 |
|
Samyak Investment Consultancy Private Limited, India |
15500 |
18.56 |
|
Zoom Building Materials and Product Private Limited, India |
8000 |
9.58 |
|
|
|
|
|
Total |
83500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
28.00 |
|
Directors or relatives of Directors |
72.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and exporting of corrugator boxes. |
|
|
|
|
Products : |
Corrugator Boxes |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
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|
Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Corrugator Boxes |
|
Countries : |
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|
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Pran Nath and Company Chartered Accountants |
|
Address : |
52C Shipra Suncity, Opposite CISF Indirapuram, Ghaziabad – 201014,
Uttar Pradesh, India |
|
PAN No.: |
AHRPJ0013A |
|
|
|
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Memberships : |
Not Divulged |
|
|
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Collaborators : |
Not Divulged |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83500 |
Equity Shares |
Rs.10/- each |
Rs.0.835 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83500 |
Equity Shares |
Rs.10/- each |
Rs.0.835 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 |
0.835 |
0.835 |
0.835 |
|
(b) Reserves & Surplus |
2.157 |
2.123 |
2.119 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.050 |
|
Total
Shareholders’ Funds (1) + (2) |
2.992 |
2.958 |
3.004 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.670 |
0.050 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.022 |
0.016 |
0.016 |
|
(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) |
2.692 |
0.066 |
0.016 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5.625 |
0.197 |
0.000 |
|
(b) Trade
payables |
2.658 |
1.424 |
0.007 |
|
(c) Other
current liabilities |
0.478 |
0.021 |
0.020 |
|
(d) Short-term
provisions |
0.009 |
0.001 |
0.002 |
|
Total Current
Liabilities (4) |
8.770 |
1.643 |
0.029 |
|
|
|
|
|
|
TOTAL |
14.454 |
4.667 |
3.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.887 |
1.725 |
1.822 |
|
(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 |
0.250 |
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 |
0.026 |
0.051 |
0.078 |
|
Total Non-Current Assets |
7.163 |
1.776 |
1.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.592 |
1.561 |
0.725 |
|
(c) Trade
receivables |
3.953 |
1.049 |
0.031 |
|
(d) Cash
and cash equivalents |
0.387 |
0.268 |
0.389 |
|
(e)
Short-term loans and advances |
1.355 |
0.009 |
0.000 |
|
(f) Other
current assets |
0.004 |
0.004 |
0.004 |
|
Total
Current Assets |
7.291 |
2.891 |
1.149 |
|
|
|
|
|
|
TOTAL |
14.454 |
4.667 |
3.049 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TURNOVER |
13.452 |
1.141 |
18.545 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.049 |
0.004 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.41 |
0.05 |
-- |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
50.000 |
Expected Sales (2015-2016): Rs.150.000 Million
The above information has been parted by Mr. Naveen
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 |
(2.375) |
(0.317) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.36 |
0.35 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.77 |
0.08 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
1.76 |
39.62 |
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 |
0.835 |
0.835 |
0.835 |
|
Reserves & Surplus |
2.119 |
2.123 |
2.157 |
|
Share Application money pending
allotment |
0.050 |
0.000 |
0.000 |
|
Net
worth |
3.004 |
2.958 |
2.992 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.050 |
2.670 |
|
Short term borrowings |
0.000 |
0.197 |
5.625 |
|
Total
borrowings |
0.000 |
0.247 |
8.295 |
|
Debt/Equity
ratio |
0.000 |
0.084 |
2.772 |
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 |
18.545 |
1.141 |
13.452 |
|
|
|
(93.847) |
1,078.966 |
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
|
18.545 |
1.141 |
13.452 |
|
Profit |
0.000 |
0.004 |
0.049 |
|
|
0.00% |
0.35% |
0.36% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from R - 68 – 2, Model Town III, Delhi – 110009, India
to the present address.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
From Directors |
|
|
|
Non-Interest
bearing loan from directors |
2.670 |
0.050 |
|
|
|
|
|
Total |
2.670 |
0.050 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10576681 |
24/10/2014 |
9,400,000.00 |
Corporation Bank |
Branch - Rai Bagh, Sonepat, Haryana - 131028, India |
C57326126 |
FIXED ASSETS:
·
Plant and Machinery
·
Electrical Equipment
·
Lift Elevator
·
Invertor
·
Firefighting Equipment
·
Generator
·
Mobile Phones
·
Vehicles
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.67.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.