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MIRA INFORM REPORT
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Report No. : |
504052 |
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Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
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Name : |
JAQUAR AND COMPANY PRIVATE LIMITED (w.e.f.19.08.2009) |
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Formerly Known
As : |
JAQUAR AND COMPANY LIMITED (w.e.f. 01.07.1994) JAQUAR AND COMPANY PRIVATE LIMITED |
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Registered
Office : |
C-20, S.M.A. Co-Operative Industrial Estate Limited, G.T. Karnal Road,
New Delhi – 110033 |
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Tel. No.: |
91-11-27464808/ 4809 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
01.10.1983 |
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Com. Reg. No.: |
55-016665 |
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Capital
Investment / Paid-up Capital : |
INR 36.821
Million |
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CIN No.: [Company Identification
No.] |
U52110DL1983PTC016665 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
07AAACJ2324F2Z1 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACJ2324F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Manufacturing and Marketing of Bath Fittings and Other activities and also Manufacturing and Trading of Lighting Products. (Registered Activity) · Subject is engaged in Manufacturing, Assembling and Trading of Sanitary Ware, Wellness, Hot Water Solutions, Washroom Accessories and Lighting Products. [From Indirect Source] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
USD 25740000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company incorporated in the year 1983. It is an established company having an excellent track record. It is engaged in manufacturing, assembling and trading of sanitary ware, wellness, hot water solutions, washroom accessories and lighting products. It is a leader in the Indian faucet market and sells its products under various brand names such as Jaquar, Artize and Essco. For the financial year 2016, the company has increased its revenue from operations as compared to previous year and maintained healthy profit margin of 10.84%. The rating takes into consideration strong financial risk profile of the company marked by healthy networth base and low debt level along with fair liquidity position. Rating also derives strength from rich experience of its promoters, established position and strong brand in the faucet market business and strengthening presence as one of the India's major player. Trade relations are reported as fair. Payments are reported to be regular and as per commitments. In view of established market position, the company can be considered good for normal 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
INDIA RATING |
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Rating |
Long-Term Rating = AA- |
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Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
15.03.2017 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Short Term = A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
15.03.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 18.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-124-4746800/ 4746817/
79-29702179]
LOCATIONS
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Registered Office : |
C-20, S.M.A. Co-Operative Industrial Estate Limited, G.T. Karnal Road,
New Delhi – 110033, India |
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Tel. No.: |
91-11-27464808/ 4809 |
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Fax No.: |
91-11-27240388 |
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E-Mail : |
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Website : |
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Corporate/ Regional
Office/ Global Headquarters : |
Jaquar Group, International Head Quarters, Plot No.3, Sector – 11, IMT Manesar, Gurgaon (National Capital Region)- 122050, Haryana, India |
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Tel. No.: |
91-124-4746800/ 4746817 |
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Factory 1 : |
SP 53 , RIICO Industrial Area, Bhiwadi, Rajasthan, India |
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Tel. No.: |
91-1493-518608 (30 Lines) |
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Fax No.: |
91-1493-222808 |
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Factory 2 : |
E-Block, 426-437, RIICO Industrial Area, Chopanki Industrial Area, Choupanki Bhiwadi, District Alwar, Rajasthan, India |
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Tel. No.: |
91-1493-516792/ 516793 |
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Factory 3 : |
SP 496 (B), RIICO Industrial Area, Bhiwadi, Rajasthan, India |
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Tel. No.: |
91-1493-225008/ 224008/ 221008 |
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Factory 4 : |
Survey No. 484,485/1,485/2 Bhachau Dudhai Road, Bhachau, Kutch - 370140, Gujarat, India |
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Tel. No.: |
91-79-29702179 |
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Regional Office/
Orientation Centre: |
Located at: · Ahmedabad · Bangalore · Bhopal · Bhubaneswar · Chandigarh · Chennai · Cochin · Guwahati · Hyderabad · Jaipur · Jammu · Kolkata · Ludhiana · Lucknow · Mumbai · New Delhi · Pune · Nagpur · Raipur · Siliguri · Surat |
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Area
Representatives : |
Located at: · Agra ·
Akola ·
Amritsar ·
Aurangabad ·
Vadodara · Bhagalpur ·
Bilaspur ·
Calicut ·
Coimbatore ·
Dehradun ·
Dhanbad ·
Dharamshala ·
Faridabad ·
Goa · Gurgaon ·
Guwahati ·
Gwalior ·
Hissar ·
Jabalpur ·
Jalandhar ·
Jodhpur ·
Jhansi ·
Kanpur ·
Karnal · Kolhapur ·
Lucknow ·
Meerut ·
Moradabad ·
Muzaffarpur ·
Nagpur ·
Nasik ·
Noida ·
Patna ·
Raipur ·
Rajkot ·
Ranchi ·
Rohtak ·
Shimla ·
Solapur ·
Udaipur ·
U.P. (West) and Kumaon · Uttrakhand Kumaon ·
Varanasi ·
Kathmandu |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Sri Krishan Mehra |
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Designation : |
Whole-Time Director |
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Address : |
5, Flag Staff Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
15.12.1956 |
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Qualification : |
Graduate |
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Experience : |
34 Years |
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Date of Appointment : |
22.03.1984 |
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PAN No.: |
AAAPM6479R |
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DIN No.: |
00058213 |
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Other Directorship :
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Name : |
Mr. Rajesh Mehra |
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Designation : |
Whole-Time Director |
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Address : |
5, Flag Staff Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
04.09.1958 |
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Qualification : |
Graduate |
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Experience : |
32 Years |
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Date of Appointment : |
01.02.1996 |
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PAN No.: |
AAAPM2966R |
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DIN No.: |
00058232 |
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Other Directorship :
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Name : |
Mr. Ajay Mehra |
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Designation : |
Whole-Time Director |
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Address : |
5, Flag Staff Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
27.06.1962 |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Date of Appointment : |
01.04.2003 |
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PAN No.: |
AAAPM2971Q |
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DIN No.: |
00058245 |
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Other Directorship :
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Name : |
Mr. Bharat Bhushan Duggal |
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Designation : |
Whole-Time Director |
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Address : |
A-5B/449, Paschim Vihar, Delhi – 110 063, India |
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Date of Birth/Age : |
18.11.1955 |
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Date of Appointment : |
07.03.2005 |
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PAN No.: |
AAHPD1399N |
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DIN No.: |
00058267 |
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Other Directorship :
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Name : |
Mr. Ved Bandhu Aggarwal |
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Designation : |
Whole-Time Director |
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Address : |
A-2/85, Rajouri Garden, Delhi – 110 027, India |
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Date of Birth/Age : |
28.01.1948 |
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Date of Appointment : |
07.03.2005 |
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PAN No.: |
ABZPA9993N |
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DIN No.: |
00058284 |
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Name : |
Mr. Parichay Mehra |
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Designation : |
Director |
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Address : |
5, Flag Staff Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
24.12.1982 |
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Qualification : |
Graduate |
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Experience : |
15 Years |
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Date of Appointment : |
01.10.2009 |
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PAN No.: |
AGAPM6716B |
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DIN No.: |
03204069 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of
Shareholders |
|
No. of Shares |
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Ajay Mehra |
|
31620 |
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Ajay Mehra & Sons (HUF) |
|
1326 |
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Deepika Mehra |
|
31623 |
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Essco Sanitations Limited, India |
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55161 |
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G.R. Sales Private Limited, India |
|
11925 |
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KRA Leasing Limited, India |
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56044 |
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Kanav Mehra |
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1945 |
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Ranbir Raj Mehra |
|
1271 |
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Micky Khosla |
|
101 |
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Malti Mehra |
|
32771 |
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Nishi Mehra |
|
32299 |
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N.L. Mehra & Sons (HUF) |
|
1333 |
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Parichay Mehra |
|
1658 |
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Parakh Sehgal |
|
1643 |
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Parinay Mehra |
|
1325 |
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Rajesh Mehra |
|
32615 |
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Rajesh Mehra (HUF) |
|
1350 |
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S.K. Mehra |
|
31669 |
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S.K. Mehra& Sons (HUF) |
|
1621 |
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Sabhyata Mehra |
|
1877 |
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SMG Enterprises Limited, India |
|
36405 |
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Vidhi Mehra |
|
2500 |
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Total |
|
370082 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Promoters (Individual/Hindu Undivided Family - Indian) |
56.89 |
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Promoters (Body corporate) |
4311 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturing and Marketing of Bath Fittings and Other activities and also Manufacturing and Trading of Lighting Products. (Registered Activity) · Subject is engaged in Manufacturing, Assembling and Trading of Sanitary Ware, Wellness, Hot Water Solutions, Washroom Accessories and Lighting Products. [From Indirect Source] |
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Products : |
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Brand Names : |
· Artize · Jaquar · Essco · Joeyforlife |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Standard Chartered Grindlays Bank Limited H Block, Connaught Place, New Delhi, India · Citibank N.A Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India · Standard Chartered Bank |
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Auditors : |
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Name : |
Daleep Bhatia and Company Chartered Accountants |
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Address : |
19, Vasant Enclave Rao, Tula Ram Marg, Delhi, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD8623J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company: |
· Sweet Hospitality Private Limited [U55101DL2011PTC311336] · Joeyforlife Company Limited · Jaquar and Company PTE Limited · Jaquar UK Limited · Jaquar Kenya Private Limited · Surya Colonizers Private Limited [U45201RJ1986PTC003753] · Jaquar Europe SRL · Foshan Jaquar Trading Limited |
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Joint
Venture: |
Jaquar Middle East LLC |
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Associate
Companies: |
· KRA Leasing Limited [L65993DL1990PLC039637] · Essco Sanitations Private Limited [U25203DL1992PTC048851] · G R Sales Private Limited |
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|
Enterprises which are owned, or have
significant influence of or are partners with Key
management personnel and their relatives: |
· Essco Sanitations · Jaquar Mercantile · SMG Enterprises Limited · Sanraj Farms Private Limited · Jaquar Middle East LLC · Sri Krishan Mehra & Sons · Rajesh Mehra & Sons · Ajay Mehra & Sons · N L Mehra & Sons · SMG Enterprises Limited [U29199DL1999PLC097822] |
CAPITAL STRUCTURE
AFTER: 30.09.2016
Authorised Capital : INR 42.400 Million
Issued, Subscribed & Paid-up Capital : INR 37.008
Million
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424000 |
Equity Shares |
INR 100/- each |
INR 42.400 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
368207 |
Equity Shares |
INR 100/- each |
INR 36.821 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
36.821 |
36.821 |
36.821 |
|
(b) Reserves & Surplus |
8972.073 |
6752.101 |
5274.191 |
|
(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) |
9008.894 |
6788.922 |
5311.012 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
268.444 |
142.629 |
139.682 |
|
(c)
Other long term liabilities |
98.763 |
84.241 |
77.044 |
|
(d)
long-term provisions |
229.125 |
183.059 |
103.267 |
|
Total
Non-current Liabilities (3) |
596.332 |
409.929 |
319.993 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
23.000 |
0.000 |
14.091 |
|
(b)
Trade payables |
3485.700 |
2497.970 |
2738.168 |
|
(c)
Other current liabilities |
732.947 |
646.897 |
582.106 |
|
(d)
Short-term provisions |
1296.456 |
1082.756 |
744.267 |
|
Total
Current Liabilities (4) |
5538.103 |
4227.623 |
4078.632 |
|
|
|
|
|
|
TOTAL |
15143.329 |
11426.474 |
9709.637 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5780.647 |
3310.024 |
2938.550 |
|
(ii)
Intangible Assets |
23.448 |
18.639 |
22.531 |
|
(iii)
Capital work-in-progress |
69.931 |
1504.968 |
996.895 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
717.642 |
163.242 |
68.378 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
162.227 |
174.771 |
207.991 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6753.895 |
5171.644 |
4234.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
574.778 |
306.982 |
253.799 |
|
(b)
Inventories |
3073.048 |
2475.128 |
3077.053 |
|
(c)
Trade receivables |
1761.015 |
1414.097 |
1140.119 |
|
(d)
Cash and cash equivalents |
301.026 |
219.394 |
189.791 |
|
(e)
Short-term loans and advances |
1422.063 |
1075.628 |
813.332 |
|
(f)
Other current assets |
1257.504 |
763.601 |
1.198 |
|
Total
Current Assets |
8389.434 |
6254.830 |
5475.292 |
|
|
|
|
|
|
TOTAL |
15143.329 |
11426.474 |
9709.637 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
20473.231 |
18148.349 |
16541.783 |
|
|
|
Other Income |
63.619 |
96.236 |
41.841 |
|
|
|
TOTAL |
20536.850 |
18244.585 |
16583.624 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
8616.861 |
8461.796 |
|
|
|
|
Purchases of Stock-in-Trade |
3405.228 |
2449.684 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(487.357) |
(188.625) |
|
|
|
|
Employees benefits expense |
1996.353 |
1771.915 |
|
|
|
|
CSR expenditure |
30.937 |
3.316 |
|
|
|
|
Other expenses |
3384.304 |
3133.520 |
|
|
|
|
TOTAL |
16946.326 |
15631.606 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3590.524 |
2612.979 |
[Including
Financial and Depression Expenses] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.021 |
6.740 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3581.503 |
2606.239 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
233.548 |
217.898 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3347.955 |
2388.341 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1127.983 |
861.717 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2219.972 |
1526.624 |
1146.689 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
485.838 |
347.708 |
384.459 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
6029.14 |
4146.10 |
3114.25 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
3141.779 |
2128.153 |
1598.095 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
3141.779 |
2128.153 |
1059.530 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
2138.424 |
1323.863 |
1058.190 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
31.40 |
28.44 |
25.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.63 |
12.83 |
14.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
105.83 |
83.56 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.17 |
1.06 |
NA |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.61 |
0.54 |
NA |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.37 |
0.37 |
0.42 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.61 |
0.62 |
0.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.65 |
0.71 |
0.75 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
398.02 |
387.68 |
NA |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.84 |
8.41 |
6.93 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
14.66 |
13.36 |
11.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
24.64 |
22.49 |
21.59 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.51 |
1.48 |
1.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.96 |
0.89 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.59 |
0.59 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.62 |
0.00 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.51 |
1.48 |
1.34 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
36.821 |
36.821 |
36.821 |
|
Reserves & Surplus |
5274.191 |
6752.101 |
8972.073 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5311.012 |
6788.922 |
9008.894 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
14.091 |
0.000 |
23.000 |
|
Total
borrowings |
14.091 |
0.000 |
23.000 |
|
Debt/Equity
ratio |
0.003 |
0.000 |
0.003 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
16541.783 |
18148.349 |
20473.231 |
|
|
|
9.712 |
12.810 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
16541.783 |
18148.349 |
20473.231 |
|
Profit |
1146.689 |
1526.624 |
2219.972 |
|
|
6.93% |
8.41% |
10.84% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B29565033 |
10329055 |
ICICI
BANK LIMITED |
07/12/2011 |
- |
- |
650000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
B03796570 |
10194809 |
HDFC
BANK LIMITED |
07/12/2009 |
25/11/2010 |
- |
50000000.0 |
HDFC
BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
A61431201 |
10154977 |
CITIBANK
N.A. |
17/04/2009 |
- |
- |
60000000.0 |
JEEVAN
VIHAR, 3 SANSAD MARGNEW DELHIDL110001IN |
|
4 |
A61420568 |
10154955 |
CITIBANK
N.A. |
17/04/2009 |
- |
- |
15000000.0 |
JEEVAN
VIHAR, 3 SANSAD MARGNEW DELHIDL110001IN |
|
5 |
G14878326 |
80045975 |
CITI
BANK N.A. |
01/12/2004 |
16/08/2016 |
- |
837500000.0 |
JEEVAN
BHARTI BUILDING,4TH FLOOR,124 CONNAUGHT CIRCUS, CONNAUGHT PLACENEW
DELHIDL110001IN |
|
6 |
G13986013 |
80010116 |
STANDARD
CHARTERED BANK |
27/08/2001 |
26/05/2016 |
- |
950000000.0 |
CREDIT RISK
CONTROLNARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
7 |
B11582624 |
10073054 |
STANDARD
CHARTERED BANK |
31/10/2007 |
- |
28/04/2011 |
23122000.0 |
CREDIT
RISK CONTROLNARAIN MANZIL, 23, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
8 |
B11583879 |
90060753 |
STANDERED
CHARTERED GRINDLAYS BANK LTD |
11/09/1995 |
26/12/2000 |
28/04/2011 |
11000000.0 |
H
BLOCKCONNAUGHT PLACENEW DELHIDLIN |
|
9 |
B11583200 |
90062320 |
STANDARD
CHARTERED BANK |
27/08/2001 |
- |
28/04/2011 |
18000000.0 |
PARLIAMENT
STREETNEW DELHIDLIN |
|
10 |
B11582848 |
10027820 |
STANDARD
CHARTERED BANK |
15/12/2006 |
10/08/2007 |
28/04/2011 |
30000000.0 |
CREDIT
RISK CONTROLNARAIN MANZIL, 23, BARAKHAMBA ROADNEW DELHIDL110001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from others |
23.000 |
0.000 |
|
|
|
|
|
Total |
23.000 |
0.000 |
BRIEF DESCRIPTION OF THE COMPANY’S AFFAIRS
DURING THE YEAR:
The Company is one of the fastest growing multi-diversified bathing solutions brand with a turnover of more than INR 20000.000 million, in the world with presence in 30+ countries across Europe, Middle East, Asia- Pacific and Africa. Conceived way back in 1984, Jaquar today is an undisputed market leader in the organized bath fittings category with over 60% market share.
Today Jaquar is India’s most trusted bath fittings brand reaching out to almost 5 million happy new customers every year. Today Jaquar is India’s most searched bath brand on Google, leader by far. As per super brand across 2000 brands (all top brands across category) in India, Jaquar stands in top 5% brand with maximum recognition and awareness.
Jaquar service network is by far the most spread and responsive network for bath fittings in India - 770 highly trained technician for customer care across India which attends to 0.6 million customers for product pro-active & reactive assistance. In line with the company’s mission to deliver superlative bathing product, the Company has four state-of-the-art manufacturing units spread over 180000 sq. meters – one of the largest setup in Asia, equipped with modern machinery and processes, in Bhiwadi, Rajasthan (NCR region). Adhering to global quality certification, Jaquar manufacturing setup is a zero waste plant recycling 150,000 liters of water every day and 11,680 tones of brass recycled every year. Embracing green philosophy, Jaquar plant generates 5.4MW of solar energy.
During the year the company’s Gross revenue has increased by 12.60% approx. and the PAT has increased by 45% approx. The Company has posted Gross Revenue of INR 20536.850 million in the current year against INR 18244.586 million in the previous year. This growth has been possible due to sound and experienced management team. Company’s Key Products:
INDUSTRY STRUCTURE & FUTURE PROSPECTS:
Indian sanitary ware market to witness robust growth due to rising sanitary awareness enhanced by increased level of income and government programs for educating households about safe sanitation.
According to Karan Chechi, Research Director of TechSci Research, around 69% households in rural areas and about 19% households in urban areas in India do not have access to safe sanitation. This indicates the latent opportunity in the country’s sanitary ware market.” “India is no longer a testing ground, but a lucrative market for premium brands. It’s increasingly willing to spend on premium quality and are becoming extremely value conscious.
Growth of real estate market & demand for luxurious house & rapid urbanisation is leading to increased standards of living, which has resulted in escalated demand for super-premium or luxury bathroom products. Indian customers are gradually purchasing more premium and high technology products for their bathrooms due to increase in the spending power with increasing environmental awareness, customers are moving towards eco-friendly sanitary-ware and bathroom fittings that help in the conservation of water.
Country with the grow at the CAGR of about 12.5% and 15% respectively between 2012-2018. The demand for sanitary ware is highest in residential sector followed by demand from commercial sector including malls, hotels, and hospitals. The future of the company seems very bright. The company is the market leader in India in its field. The After sales Services provided by the company is a class apart in the field it operates. Looking at its position and product and services quality and brand recall and above all the management team your Directors’ are of the opinion that barring unforeseen circumstances your company is poised to achieve substantial growth
on year in the near future.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
On letters of guarantee |
102.567 |
47.570 |
|
On letters of credit |
873.180 |
351.730 |
|
Claim against company not acknowledged as debt (for AWL Case filed) |
54.013 |
0.000 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
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
|
INR |
|
US Dollar |
1 |
INR 65.61 |
|
UK Pound |
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.