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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485906

Report Date :

11.01.2018

 

IDENTIFICATION DETAILS

 

Name :

JAIN IRRIGATION SYSTEMS LIMITED

 

 

Registered Office :

Jain Plastic Park, P O Box No 72, N.H. No.6, Bambhori, Jalgaon – 425001, Maharashtra

Tel. No.:

91-257-2258011

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

30.12.1986

 

 

Com. Reg. No.:

11-042028

 

 

Capital Investment / Paid-up Capital :

INR 958.920 Million

 

 

CIN No.:

[Company Identification No.]

L29120MH1986PLC042028

 

 

IEC No.:

0388080361

 

 

GSTIN/UIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACJ7163Q

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :
  • Manufacture of other Plastic Products (n.e.c).

 

  • Manufacture of fruit or vegetable juices, their concentrates squashes and powder.

 

[Registered Activity]

 

 

No. of Employees :

10893 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1986 and it is engaged in manufacturing of other plastic products and manufacture of fruit or vegetable juices, their concentrates squashes and powder.

 

As per the financials of March 2017, the company has reported decline in its revenue as compared to its previous year’s revenue and maintained a fair profit margin 4.24% under review.

 

Rating takes into consideration the company’s established track record of business operations marked by healthy net worth along with strong debt protection metrics and good liquidity position.

 

Rating also takes into consideration the company’s experienced promoters, leading market position in Micro Irrigation Systems (MIS) and well diversified product offering and market reach along with a widespread distribution network.

 

Share price are quoted high on stock exchange (share price of INR 138.85 with face value of INR 2).

 

However, rating strength is partially offset by moderate operational performance, dependence on the seasonal agricultural sector and government policies.

 

As per the quarterly financials record of September 2017, the company has achieved revenue of INR 7682.700 million and has maintained fair profitability margin of 2.09%.

 

Payment are reported to be regular.

 

In view of aforesaid, the company can be considered good for business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term rating: A-

Rating Explanation

Adequate degree of safety and low credit risk.

Date

16.06.2017

 

Rating Agency Name

CARE

Rating

Short term rating: A2+

Rating Explanation

Strong degree of safety and low credit risk.

Date

16.06.2017

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 11.01.2018

 

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 DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-257-2258011/91-22-22109090)

 

 

LOCATIONS

 

Registered Office/ Head/ Research and Development Center/ Factory 1 :

Jain Plastic Park, P O Box No 72, N.H. No.6, Bambhori, Jalgaon – 425001, Maharashtra, India

Tel. No.:

91-257-2258011/ 2260011/ 22

Fax No.:

91-257-2258111/ 2261111/ 22

E-Mail :

jainmumbai@jains.com

jisl@jains.com

jmt@jains.com

Website:

www.jains.com

 

 Image result for JAIN IRRIGATION SYSTEMS LIMITED

 

 

Factory 2 :

Jain Food Park, Village - Dhobikuva, Muvad, Padra, Vadodara, Gujarat, India

Tel. No.:

91-2662-267281/ 267400

Fax No.:

91-2662-267363

E-Mail :

jianbaroda@jains.com

 

 

Factory 3 :

Jain Hills, Jain Agri Park, Shirsoli Road, District Jalgaon – 425001, Maharashtra, India

Tel. No.:

91-257-2260033/ 44/ 2260288

Fax No.:

91-257-2261144

E-Mail :

foodpark@jains.com

 

 

Factory 4 :

S.No.587 and 588, Village : Kondamadgu, Mandal Bibi Nagar, District Nalgonda – 508126, Andhra Pradesh, India

Tel No. :

91-8685-277302 / 3

Fax No. :

91-8685-277305

 

 

Factory 5 :

Site No.258-90, Village Ellaymuthur, Udumalpet, District Coimbatore – 642154, Tamilnadu, India

Tel No. :

91-4252-278401/ 2

Fax No.:

91-4252-278403

E-Mail :

jainudumalpet@jains.com

 

 

Factory 6 :

Unit No.01,100, Gollapalli, Village Gangadhara Mandal Nellore, District Chittoor – 517125, Andhra Pradesh, India

Tel No. :

91-8572-273703/ 202022/ 273703

Fax No.:

91-8572-273663

E-Mail :

foodchittoor1@jains.com

 

 

Factory 7 :

Avalkonda Road, Village Gangadhara, Mandal Nellore, District Chittoor – 517125, Andhra Pradesh, India

Tel No. :

91-8572-273185/ 86/ 273185/ 202033

Fax No.:

foodchittoor2@jains.com

 

 

Factory 8:

Plot No. SP-1, Matsya Industrial Area, Alwar – 301030, Rajasthan, India

Tel No. :

91-144-2881173/ 74/ 75/ 99

E-Mail :

jainalwar@jains.com

 

 

Factory 9:

Survey No.215, JIDC4, At Post Ghangali, Taluka Sihor, District Bhavnagar – 364240, Gujarat, India

Tel No.:

91-2846-294222/ 225503

E-Mail :

jainbhavnagar@jains.com

 

 

Factory 10:

S.F. No 248/2, 3, Ellayamuthur Village, Udumalpet, Tirupur, Udumalpet– 642154, Tamilnadu, India

 

 

Factory 11:

Jain Energy Park, Jain Hills, Shirsoli Road, District- Jalgaon-425001, Maharashtra, India

 

 

Demo and Research and Development Farm 1  : 

Jain Hills, P.O. Box: 72, Jalgaon – 425001, Maharashtra, India

 

 

Demo and Research and Development Farm 2  : 

At. Takarkheda, Post Kadholi, Taluka Erandol, District Jalgaon – 425001, Maharashtra, India

 

 

Demo and Research and Development Farm 3 : 

Angora Breeding Farm, Village Pirdi, Taluka Mahol, District Kulu, Himachal Pradesh, India

 

 

Demo and Research and Development Farm 4 : 

Site No. 258-90, Ellaymuthur Village, Udumalpet, District Coimbatore – 642154, Tamilnadu, India

 

 

Demo and Research and Development Farm 5 : 

Aarogyadham” Kasturba Nisarga Upchar Kendra, Varud Road, Kasturba Health Society, Sevagram, Wardha, Maharashtra, India

 

 

Laisioning Office :

7, Kumtha Street, Ballard Estate, Mumbai – 400 001, Maharashtra, India

Tel No.:

91-22-22109090/ 22610011/ 22129090/ 22670011

Fax No.

91-22-22621177/ 22641177

 

 

Regional Office and Depot :

 

Sangli-Kolhapur Road, Post Ankali, Taluka Miraj, District Sangli. - 416415, Maharashtra, India

Tel No.:

91-233-2422100

Fax No.

91-233-2422200

 

 

Other Regional Offices and Depot :

Located at

 

·         Ferozepur 

·         Adilabad 

·         Ahmedabad

·         Ahmednagar

·         Amravati

·         Amreli

·         Anantapur 

·         Aurangabad 

·         Bangalore 

·         Baramati 

·         Bardoli 

·         Belgaum 

·         Bijapur 

·         Bhubaneswar

·         Bhuj

·         Bikaner 

·         Bilaspur

·         Kutch

·         Buldhana 

·         Chamba 

·         Chandigarh 

·         Chennai 

·         Chittoor 

·         Cochin 

·         Coimbatore 

·         Cuddapah 

·         Nashik 

·         Dehradun

·         Dindori

·         Deesa

·         East Godavari

·         Guntur 

·         Hamirpur

·         Hyderabad 

·         Indore 

·         Jalbalpur

·         Jaipur 

·         Jalgaon 

·         Jhalawad

·         Jhansi

·         Jodhpur 

·         Karimnagar 

·         Khammam

·         Kolkata 

·         Kullu 

·         Kurnool

·         Latur

·         Lucknow

·         Madurai 

·         Mahaboobnagar

·         Medak (Sangareddy)

·         Narasipatnam

·         Nasik

·         Angareddy 

·         Nagpur

·         Nalgonda

·         Nanded 

·         Vizag 

·         Nellore 

·         Nizamabad

·         New Delhi

·         Palampur 

·         Pandharpur

·         Parawada

·         Pulivendula

·         Solapur 

·         Vizag 

·         Patna

·         Pondicherry 

·         Pune 

·         Ranchi

·         Ratnagiri 

·         Shimla 

·         Sendhwa 

·         Sanchore

·         Solan

·         Sundernagar

·         Tirupathi

·         Trichi

·         Tirunelveli

·         Vijayanagaram

·         West Godavari

·         Yamuna Nagar

·         Zirakhpur

·         Sirsa 

·         Srikakulam 

·         Mandi 

·         Thane

·         Udaipur

·         Una 

·         Vadodara 

·         Vijaywada 

·         Vishakhapatnam 

·         Warangal 

·         Mohali

 

 

Overseas offices :

Located at:

 

·         USA

·         Europe

·         Australia

·         Israel

·         Sri Lanka

·         France

·         Egypt

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Anil Bhavarlal Jain

Designation :

Managing Director

Address :

Jains House, 7/8, Suyog Colony, Near Girna Water Tank, Jalgaon - 425001, Maharashtra, India

Date of Appointment :

01.10.2010

DIN No.:

00053035

 

 

Name :

Ashok Bhavarlal Jain

Designation :

Wholetime Director

Address :

Jains House, 7/8 Suyog Colony, Near Girna Water Tank, Jalgaon - 425001, Maharashtra, India

Date of Appointment :

01.10.2015

DIN No.:

00053157

 

 

Name :

Ajit Bhavarlal Jain

Designation :

Wholetime Director

Address :

Jains House, 7/8 Suyog Colony, Near Girna Water Tank, Jalgaon - 425001, Maharashtra, India

Date of Appointment :

01.10.2010

DIN No.:

00053299

 

 

Name :

Atul Bhavarlal Jain

Designation :

Wholetime Director

Address :

Jains House, 7/8 Suyog Colony, Near Girna Water Tank, Jalgaon - 425001, Maharashtra, India

Date of Appointment :

01.10.2015

DIN No.:

00053407

 

Name :

Ramanathan Swaminathan

Designation :

Wholetime Director

Address :

5B, Suyog Colony Near Girna Water Tank Jalgaon - 425001, Maharashtra, India

Date of Appointment :

01.10.2010

DIN No.:

00060983

 

Name :

Radhika Carlton Pereira

Designation :

Director

Address :

72, Buena Vista, J. Bhosale Marg, Nariman Point, Mumbai - 400021, Maharashtra, India

Date of Appointment :

29.12.2005

DIN No.:

00016712

 

Name :

Warty Vasant Vishwanath

Designation :

Director

Address :

6, Unmesh N.P.Thakker Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India

Date of Appointment :

13.05.2004

DIN No.:

00701010

 

Name :

Devendra Raj Mehta

Designation :

Director

Address :

B - 5 Mahavir Udyan Marg Bajaj Nagar Jaipur 302015 Rajasthan, India

Date of Appointment :

26.12.2007

DIN No.:

01067895

 

Name :

Ghanshyam Dass

Designation :

Director

Address :

31A Sobha Emerald, Sobha Suburb 1a Behind Jakkur Flying Club, Jakkur Bangalore - 560064, Karnataka, India

Date of Appointment :

25.08.2009

DIN No.:

01807011

 

 

Name :

Harishchand Prasad Singh

Designation :

Director

Address :

B- 3, Nasc Complex, Dev Prakash Shastri Marg Pusa, New Delhi - 110012, India

Date of Appointment :

11.08.2014

DIN No.:

06387125

 

 

KEY EXECUTIVES

 

Name :

Avdhut Vasant Ghodgaonkar

Designation :

Company Secretary and Chief Compliance Officer

Address :

PN 4, Sn 478/1b-2 Telephone Nagar, Jalgaon-  425001, Maharashtra, India

Date of Appointment :

30.03.1993

PAN No.:

ABCPG6485C

 

 

Name :

Manoj Lalchand Lodha

Designation :

Chief Finance Officer

Address :

"Kantai", 484/5a Laxmi Nagar, Near Girna Water Tank, Jalgaon - 425002, Maharashtra, India

Date of Appointment :

11.08.2014

PAN No.:

AAEPL3251L

 

 

Audit Committee:
  • Ghanshyam Dass – Chairman
  • Vasant V. Warty – Member
  • Radhika Pereira – Member

 

 

Nomination and Remuneration Committee:
  • Vasant V. Warty – Chairman
  • Ashok B. Jain – Member
  • Radhika Pereira – Member
  • H.P Singh – Member

 

 

Stakeholders Relationship Committee:
  • Radhika Pereira – Chairperson
  • Vasant V. Warty – Member
  • Ajit B. Jain – Member

 

 

Corporate Social Responsibility Committee:
  • Ashok B. Jain – Chairman
  • Devendra Raj Mehta – Member
  • Radhika Pereira – Member

 

 

Risk Management Committee:
  • Ghanshyam Dass – Chairman
  • Atul B. Jain – Member
  • Radhika Pereira – Member

 

 

Operations Review Committee:
  • Anil B. Jain – Vice Chairman
  • and Managing Director
  • Ajit B. Jain – Member
  • Atul B. Jain – Member
  • R. Swaminathan – Member

 

 

SHAREHOLDING PATTERN

 

AS ON SEPTEMBER 2017

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Promoter & Promoter Group

5859636

30.37

(B) Public

13434531

69.63

Shares underlying DRs

137

0.00

Grand Total

19294304

100.00

 

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

 

Category of Shareholder

No. of Shares

Percentage of Holding

A1) Indian

 

0.00

Individuals/Hindu undivided Family

1029386

5.34

Bhavarlal Hiralal Jain

132762

0.69

Ashok Bhavarlal Jain

92873

0.48

Jyoti Ashok Jain

169075

0.88

Arohi Ashok Jain

13678

0.07

Athman Ashok Jain

2500

0.01

Anil Bhavarlal Jain

5684

0.03

Nisha Anil Jain

76937

0.40

Athang Anil Jain

6638

0.03

Amoli Anil Jain

15766

0.08

Ashuli Anil Jain

6897

0.04

Ajit Bhavarlal Jain

467010

2.42

Shobhana Ajit Jain

23287

0.12

Abhedya Ajit Jain

4481

0.02

Abhang Ajit Jain

2500

0.01

Atul Bhavarlal Jain

8798

0.05

Bhavna Atul Jain

500

0.00

Any Other (specify)

4830250

25.03

Jalgaon Investments Private Limited

4830250

25.03

Jain Brothers Industries Private Limited

 

0.00

JAF Products Private Limited

 

0.00

Sub Total A1

5859636

30.37

A2) Foreign

 

0.00

A=A1+A2

5859636

30.37

 

Statement showing shareholding pattern of the Public shareholder

 

Category of Shareholder

No. of Shares

Percentage of Holding

B1) Institutions

 

0.00

Mutual Funds/

601

0.00

Alternate Investment Funds

 

0.00

Foreign Portfolio Investors

69309

0.36

Financial Institutions/ Banks

22636

0.12

Any Other (specify)

329495

1.71

Foreign Bank

50

0.00

International Finance Corporation

329445

1.71

Sub Total B1

422041

2.19

B2) Central Government/ State Government(s)/ President of India

 

0.00

B3) Non-Institutions

 

0.00

Individual share capital upto INR 0.200 Million

7454471

38.64

Individual share capital in excess of INR 0.200 Million

2521558

13.07

Hardik Bharat Patel

277608

1.44

M R Rajaram

225225

1.17

Manish Santoshkumar Kejriwal

210000

1.09

Minal Bharat Patel

336262

1.74

Saurabh Agrawal

389462

2.02

Any Other (specify)

3036461

15.74

Trusts

1654

0.01

HUF

692253

3.59

NRI – Non- Repat

41996

0.22

NRI – Repat

276362

1.43

Office Bearers

181191

0.94

Clearing Members

297719

1.54

Bodies Corporate

1545286

8.01

Finquest Securities Pvt Ltd Collateral Account

415000

2.15

G N Credit Private Limited

400000

2.07

Securities Holding India Private Limited

196671

1.02

Foreign Companies

 

0.00

Foreign Portfolio Investors (Category III)

 

0.00

Sub Total B3

13012490

67.44

B=B1+B2+B3

13434531

69.63

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacture of other Plastic Products (n.e.c).

 

  • Manufacture of fruit or vegetable juices, their concentrates squashes and powder.

 

[Registered Activity]

 

 

Products / Services :
  • Plastic Business - Plastic Products: Micro - Irrigation System (Drip Irrigation/Sprinkler Irrigation Piping System ( PE & PVC) Plastic Sheets
  • Agro-Processed Products Fruit and Vegetable Dehydration: Standard dehydrated onion products, frozen fruits, purees, pulp & concentrate
  • Green Energy Solar Products: Photovoltaic module, water heater, pumping systems & lighting appliances

 

Name and Description of main products / services

NIC Code

Manufacture of other Plastic Products ( n.e.c )

22209

Manufacture of fruit or vegetable juices, their concentrates squashes and powder

10304

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

No. of Employees :

10893 (Approximately)

 

 

Bankers :

Banker Name :

Andhra Bank,

Branch :

Mumbai, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Axis Bank Limited., Mumbai
  • Bank of Baroda, Mumbai
  • Canara Bank, Jalgaon
  • Export Import Bank of India, Mumbai
  • IDBI Bank Limited, Mumbai / Pune
  • Indian Bank, Mumbai
  • Punjab National Bank, Mumbai
  • Co-operative Centrale Raiffesen Boerenleen Bank, Mumbai
  • (formerly Rabo Bank International)
  • Standard Chartered Bank, Mumbai
  • State Bank of India, Mumbai / Jalgaon
  • Syndicate Bank, Mumbai
  • Union Bank of India, Mumbai
  • Yes Bank Limited, Mumbai

 

 

Facilities :

SECURED LOANS

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Rupee Term loans - From banks (Average interest rate for loan under category is 11.66%)

 

 

South Indian Bank

0.000

249.830

Yes Bank

0.000

542.520

Union Bank

0.500

449.950

Exim bank

894.160

619.200

Exim bank

483.390

0.000

IDFC Bank Limited

294.740

413.640

Rupee Term loans - From financial institutions / Other parties

 

 

StarAgri Finance Limited

0.000

250.000

IFCI Limited

0.000

798.290

IFCI Limited

0.000

994.700

Foreign Currency Term Loans (Average interest rate for loan under category is 5.04%)

FCL – Import Finance Program

0.000

14.340

External commercial borrowings

 

 

International finance corporation (IFC)

0.000

180.910

International finance corporation (IFC)

0.000

177.510

International finance corporation (IFC)

142.260

360.090

International finance corporation (IFC)

1165.320

1479.490

FMO - Nederlandse Inancierings- Maatschappij Voor Ontwikkelings landen N.V.

897.360

1155.530

DEG – Deutsche Investitions-

Und Entwickl ungsgesellschaft MBH

1114.430

1471.260

PROPARCO - Société De Promotion

Et De Participation Pour La Coopération

Économique

979.320

1201.430

Vehicle Loans

35.390

30.480

SHORT TERM BORROWINGS

 

 

Working capital loans

3112.500

5129.990

Cash credit accounts

75.250

5436.500

Export packing credit

2463.460

2555.940

Bill discounting

6.460

86.840

From others

Bill discounting

0.000

18.010

Total

11664.540

23616.450

 

Auditors :

 

Name :

Haribhakti and Company

Chartered Accountants

Address :

705, Leela Business Park, Andheri-Kurla Road, Andheri(East), Mumbai 400 059, Maharashtra, India

 

Solicitors :

 

Name :

Solomon and Company

Address :

Calcot House, 3rd Floor, 8/10, M.P. Shetty Marg, (Tamarind Street), Fort, Mumbai – 400023, Maharashtra, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary of Jain Irrigation Systems Limited:
  • JISL Overseas Limited, Mauritius
  • Jain International Trading BV, Netherlands
  • Jain Processed Foods Trading and Investment Private Limited, Jalgaon
  • Jain Farm Fresh Foods Limited, Jalgaon

 

 

Subsidiary of Jain International Foods Limited:
  • Jain America Foods, Inc. (Formerly Jain (Americas) Inc. USA

 

 

Subsidiary of JISL Overseas Limited, Mauritius
  • Jain America Holdings, Inc (Formerly Jain (Americas) Inc. USA
  • Jain (Europe) Limited, UK

 

 

WOS of Jain International Trading BV:
  • Jain Overseas B.V. , Netherland

 

 

Jain America Foods Inc., USA (Formerly Jain (Americas) Inc. USA)
  • Cascade Specialties Inc, USA
  • Jain Irrigation Holding, Inc, USA

 

 

WOS of Jain America Holdings, Inc, Delaware:
  • Jain Irrigation Inc, Delaware

 

 

WOS of Jain Irrigation Inc, Delaware:
  • Point Source Irrigation Inc, USA
  • Jain Agricultural Services LLC, USA

 

 

WOS of Jain Overseas B V, Netherland:
  • JISL Global SA , Switzerland
  • Jain (Israel) BV, Netherland

 

 

WOS of JISL Global SA, Switzerland:
  • JISL Systems SA , Switzerland

 

 

Subsidiary of Jain (Israel) BV, Netherland:
  • Naandan Jain Irrigation Limited., Israel

 

 

WOS of Jain (Israel) BV, Netherland:
  • Gavish Control Systems Limited., Israel

 

 

WOS of JISL Systems SA, Switzerland:
  • The Machines Yvonand S.A., Switzerland

 

 

Subsidiary of The Machine Yvonand S.A. Switzerland:
  • Pro Tool AG, Switzerland

 

 

Subsidiary of Naandan Jain Irrigation Limited:
  • Naan Dan Agro-Pro Limited., Israel NaanDan Jain France Sarl, France
  • NaanDan Jain Australia Pty Limited., Australia
  • NaanDan Do Brasil Participacoes Limited. Brazil
  • NaanDan Jain Industria E Comercio De Equipmentos Limited., Brasil
  • NaanDan Jain Mexico, S.A. De C.V. Mexico
  • NaanDan Jain S.R.L, Italy
  • NaanDan Jain Iberica S.C., Spain
  • NaanDan Jain Peru S.A. C, Peru
  • Naan Dan Jain Irrigation Projects S.R.L., Romania
  • Jain Sulama Sistemleri Sanayi Ve Ticaret Anonim Sirkti, Turkey

 

 

Joint Venture of Naandan Jain Irrigation Limited:
  • Dansystems S.A., Chile

 

 

WOS of Jain Farm Fresh Foods Limited.:
  • Jain International Foods Limited (Formerly SQF 2009 Limited.)

 

 

Wholly Owned Subsidiary of Jain International Foods Limited (Formerly SQF 2009 Limited.)
  • Sleaford Food Group Limited., UK
  • Sleaford Quality Foods Limited., UK

 

 

Wholly Owned Subsidiary of Jain International

Foods Limited (Formerly SQF 2009 Limited.):
  • Arnolds Quick Dried Foods Limited., UK

 

 

WOS of Jain (Europe) Limited., UK:
  • Ex-cel Plastics Limited., Ireland

 

 

Subsidiary of Jain Processed Foods Trading and

Investment Pvt. Limited:
  • Driptech India Private Limited, Jalgaon

 

 

WOS of Jain Irrigation Holdings, Inc., Delaware:
  • JIIO, California

 

 

Subsidiary of Jain America Holdings, Inc.:
  • Jain Distribution Holdings, Inc

 

 

Subsidiary of Cascade Specialties Inc, USA:
  • White Oak Frozen Foods, USA

 

 

Subsidiary of Jain Agricultural Services LLC, USA:
  • Jain Agricultural Services Australia Pty. Limited., Australia

 

 

Subsidiary of Jain (Europe) Limited., UK:
  • Excel Plastic Piping Systems Limited., France

 

 

Companies/Firms in which Directors, Relatives of Directors are Directors/Partners

Domestic Companies
  • Atlaz Technology Private Limited
  • Labh Subh Securities International Limited
  • Jain Vanguard Polybutylene Limited
  • JAF Products Private Limited
  • Jain Brothers Industries Private Limited
  • Pixel Point Private Limited
  • Jain Extrusion and Moulding Private Limited
  • Cosmos Investment and Trading Private Limited
  • Jain Eagro.Com India Private Limited
  • Jalgaon Investments Private Limited
  • Stock and Securities India Private Limited
  • Jain Rotfil Heaters Private Limited
  • Timbron India Private Limited
  • Gandhi Research Foundation (section 8 Company)
  • Kantabai Bhavarlal Jain Family Knowledge Institute (Section 8 Company)
  • Aadhunik Hi-Tech Agriculture Private Limited

 

 

Partnership Firms
  • Jain Computer and Allied Services, Jalgaon
  • Jalgaon Udyog , Jalgaon
  • Jalgaon Metal and Bricks Manufacturing Co, Jalgaon

 

 

Proprietorship Concerns:
  • PVC Trading House, Jalgaon
  • Drip and Pipe Suppliers, Jalgaon
  • Plastic Enterprises, Jalgaon
  • Jain Sons and Investment Corporation, Jalgaon

 

 

Trust / Section 8 Companies:
  • Anubhuti Scholarship Foundation, Jalgaon
  • Bhavarlal and Kantabai Jain Multipurpose Foundation, Jalgaon

 

 

Trust Entities:
  • Jain Family Holding Trust, Jalgaon
  • Jain Family Investment Trust, Jalgaon
  • Jain Family Enterprises Trust, Jalgaon
  • Jain Family Investment Management Trust, Jalgaon
  • Jain Family Trust, Jalgaon

 

 

Foreign companies:
  • Jain investments and Finance B.V., Netherlands
  • Jain Overseas Investment Limited, Mauritius

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2017

 

Authorised Capital : INR 2973.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 1031.321 Million

 

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

926500000

Equity Shares

INR 2/- each

INR 1853.000 Million

5000000

Redeemable Preference Shares

INR 100/- each

INR 500.000 Million

310000000

Differential Voting Rights Equity Shares

INR 2/- each

INR 620.000 Million

 

 

 

 

 

 Total

 

INR  2973.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

460166053

Equity shares

INR 2/- each

INR 920.33 Million

19294304

Equity shares

INR 2/- each

INR 38.590 Million

 

 

 

 

 

 Total

 

INR 958.920 Million

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

958.920

953.030

924.830

(b) Reserves & Surplus

42206.080

40664.940

22690.010

(c) Money received against share warrants

0.000

 

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

43165.000

41617.970

23614.840

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5262.880

12124.710

14004.040

(b) Deferred tax liabilities (Net)

3907.000

3728.250

1187.840

(c) Other long term liabilities

858.880

236.000

258.980

(d) long-term provisions

215.150

76.670

74.260

Total Non-current Liabilities (3)

10243.910

16165.630

15525.120

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6007.670

13434.810

14783.910

(b) Trade payables

8629.380

7849.190

11157.780

(c) Other current liabilities

8326.860

5369.180

5123.220

(d) Short-term provisions

117.370

79.930

369.620

Total Current Liabilities (4)

23081.280

26733.110

31434.530

 

 

 

 

TOTAL

76490.190

84516.710

70574.490

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

29292.830

30064.420

18923.320

(ii) Intangible Assets

147.360

161.280

152.480

(iii) Capital work-in-progress

196.750

160.370

315.180

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

11227.080

14270.720

7318.450

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

757.190

3317.240

(e) Other Non-current assets

2054.550

2340.690

1339.440

Total Non-Current Assets

42918.570

47754.670

31366.110

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8922.910

7341.650

11551.780

(c) Trade receivables

15351.280

17986.090

17310.320

(d) Cash and cash equivalents

1680.820

1321.550

2253.210

(e) Short-term loans and advances

162.320

202.580

5103.640

(f) Other current assets

7454.290

9910.170

2989.430

Total Current Assets

33571.620

36762.040

39208.380

 

 

 

 

TOTAL

76490.190

84516.710

70574.490

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

38639.530

44381.600

42364.550

 

Other Income

1207.960

664.240

405.430

 

TOTAL

39847.490

45045.840

42769.980

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

23941.060

21359.100

25265.0500

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3211.980)

3498.170

(115.880)

 

Excise duty on sales

1537.120

1642.200

0.000

 

Employees benefits expense

2639.040

2568.450

2430.870

 

Other expenses

7676.300

8469.560

8487.230

 

 Exceptional Items

0.000

0.000

566.730

 

TOTAL

32581.540

37537.480

36634.000

 

 

 

 

 

 

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

7265.950

7508.360

6135.980

 

 

 

 

 

Less

FINANCIAL EXPENSES

3423.090

4285.490

4002.260

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3842.860

3222.870

2133.720

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1811.100

2293.100

1784.790

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2031.760

929.770

348.930

 

 

 

 

 

Less

TAX

393.740

318.290

-144.980

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1638.020

611.480

493.910

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

8520.140

8511.350

 

TOTAL EARNINGS

NA

8520.140

8511.350

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw materials and components

NA

4360.640

4434.580

 

Capital Goods

NA

78.320

212.210

 

TOTAL IMPORTS

NA

4438.960

4646.790

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

3.18

0.88

1.07

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

4995.490

2754.880

2049.980

 

 

 

 

Cash generated from operations

7946.390

3453.590

5284.320

 

 

 

 

Net cash flow generated from operating activities

7830.960

3335.970

5122.090

 

 

QUARTERLY RESULTS

 

Particulars

 

 

30.06.2017

(Unaudited)

30.09.2017

(Unaudited)

 

 

1st Quarter

2nd Quarter

Net sales

 

9723.800

7682.700

Total Expenditure

 

8354.200

6527.800

PBIDT (Excluding Other Income)

 

1369.600

1154.900

Other income

 

125.400

103.000

Operating Profit

 

1495.000

1257.900

Interest

 

637.900

589.800

Exceptional Items

 

NA

NA

PBDT

 

857.100

668.100

Depreciation

 

468.800

473.000

Profit Before Tax

 

388.300

195.100

Tax

 

(20.400)

34.700

Provisions and contingencies

 

NA

NA

Profit after tax

 

408.700

160.400

Extraordinary Items

 

NA

NA

Prior Period Expenses

 

NA

NA

Other Adjustments

 

NA

NA

Net Profit

 

408.700

160.400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

145.01

147.92

149.14

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.52

2.47

2.45

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

131.56

134.13

161.19

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.81

1.02

0.53

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.25

0.32

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.44

0.49

0.67

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.38

0.68

1.31

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.53

0.64

1.33

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.69

0.73

0.82

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.12

1.75

1.53

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

4.24

1.38

1.17

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.14

0.72

0.70

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

3.79

1.47

2.09

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.45

1.38

1.25

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.07

1.10

0.88

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.56

0.49

0.33

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

16.96

29.71

33.34

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.45

1.38

1.25

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 2/-

Market Value

INR 138.85/-

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

924.830

953.030

958.920

Reserves & Surplus

22690.010

40664.940

42206.080

Share Application money pending allotment

0.000

0.000

0.000

Net worth

23614.840

41617.970

43165.000

 

 

 

 

Long-Term Borrowings

14004.040

12124.710

5262.880

Short Term Borrowings

14783.910

13434.810

6007.670

Current Maturities of Long term debt

2049.980

2754.880

4995.490

Total borrowings

30837.930

28314.400

16266.040

Debt/Equity ratio

1.306

0.680

0.377

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

42364.550

44381.600

38639.530

 

 

4.761

(12.938)

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

42364.550

44381.600

38639.530

Profit

493.910

611.480

1638.020

 

1.17%

1.38%

4.24%

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

958.920

953.030

(b) Reserves & Surplus

 

40618.690

39689.640

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

) Non controlling interest

 

1089.030

1024.950

Total Shareholders’ Funds (1) + (2)

 

42666.640

41667.620

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

22198.970

16197.750

(b) Deferred tax liabilities (Net)

 

4881.950

4803.220

(c) Other long term liabilities

 

999.930

1160.700

(d) long-term provisions

 

269.060

92.190

Total Non-current Liabilities (3)

 

28349.910

22253.860

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

12347.770

21315.280

(b) Trade payables

 

15380.240

13404.900

(c) Other current liabilities

 

253.880

216.000

(d) Short-term provisions

 

12556.400

8926.740

Total Current Liabilities (4)

 

40538.290

43862.920

 

 

 

 

TOTAL

 

111554.840

107784.400

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

43571.870

44351.420

(ii) Intangible Assets

 

754.750

535.260

(iii) Capital work-in-progress

 

642.150

603.760

(iv) Intangible assets under development

 

0.000

0.000

Goodwill on consolidation

 

3447.940

3440.320

(b) Non-current Investments

 

279.160

28.360

(c) Deferred tax assets (net)

 

1877.880

2057.110

(d)  Long-term Loan and Advances

 

43.870

0.000

(e) Other Non-current assets

 

2349.930

2287.250

Equity Accounted investees

 

789.000

678.920

Total Non-Current Assets

 

53756.550

53982.400

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

350.000

(b) Inventories

 

22580.730

18750.000

(c) Trade receivables

 

22821.480

21742.710

(d) Cash and cash equivalents

 

2660.790

3795.070

(e) Short-term loans and advances

 

256.400

198.350

(f) Other current assets

 

9478.890

8965.870

Total Current Assets

 

57798.290

53802.000

 

 

 

 

TOTAL

 

111554.840

107784.400

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

69393.170

64864.580

 

Other Income

 

612.010

332.840

 

TOTAL

 

70005.180

65197.420

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

39668.420

35530.270

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(3721.580)

(639.950)

 

Excise duty on sales

 

1695.340

1642.200

 

Employees benefits expense

 

7382.940

6664.040

 

Other expenses

 

14965.790

13484.990

 

Share of profit of equity accounted investees (net of income tax)

 

(22.630)

(31.940)

 

TOTAL

 

59968.280

56649.610

 

 

 

 

 

 

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

 

10036.900

8547.810

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

4593.510

4910.110

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

5443.390

3637.700

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

3013.750

2970.400

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

2429.640

667.300

 

 

 

 

 

Less

TAX

 

667.260

180.490

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

1762.380

486.810

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

3.29

1.05

 

 

LEGAL CASES

 

 

DISTRICT AND SESSION COURT, JALGAON

CASE DETAILS

 

Case Type : Cri.Rev.App.

Filing Number: 48/2016Filing Date: 13-01-2016

Registration Number: 15/2016Registration Date: 19-01-2016

CNR Number: MHJG04-000148-2016

 

Case Status

First Hearing Date : 22nd January 2016

Next Hearing Date: 18th December 2017

Stage of Case: Hearing

Court Number and Judge : 11-District Judge-5 and ASJ, Jalgaon

Petitioner and Advocate

1) Sureshchandra Shankarlal Lalwani

    Advocate- Girnare R R

 

Respondent and Advocate

1) State of Maharashtra


2) Muncipal Council Jamner

    Advocate-Paralkar Devendra G

Acts

Under Act(s)

Under Section(s)

Mah.Municipal Council,Nagar Panchayat & Industrial Township Act,1965

171

Subordinate Court Information

Court Number and Name: C.J.J.D. and J.M.F.C.Jamner

Case Number and Year: Munci. Appeal - 0000009 - 2005
Case Decision Date: 04-09-2015

History of Case Hearing

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

15/2016

District Judge-2 and ASJ, Jalgaon

22-01-2016

20-02-2016

Admission and Denial

15/2016

Adhoc District Judge-1 and ASJ, Jalgaon

20-02-2016

10-03-2016

Admission and Denial

15/2016

Adhoc District Judge-1 and ASJ, Jalgaon

10-03-2016

18-04-2016

Admission and Denial

15/2016

Adhoc District Judge-1 and ASJ, Jalgaon

18-04-2016

11-05-2016

Admission and Denial

15/2016

District Judge-6 and ASJ, Jalgaon

11-05-2016

07-07-2016

Notice_Unready

15/2016

District Judge-7 and ASJ, Jalgaon

07-07-2016

29-08-2016

Notice_Unready

15/2016

District Judge-7 and ASJ, Jalgaon

29-08-2016

10-10-2016

Hearing

15/2016

District Judge-7 and ASJ, Jalgaon

10-10-2016

28-11-2016

Hearing

15/2016

District Judge-7 and ASJ, Jalgaon

28-11-2016

23-01-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

23-01-2017

17-03-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

17-03-2017

30-06-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

30-06-2017

30-08-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

30-08-2017

09-09-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

09-09-2017

09-10-2017

Hearing

15/2016

District Judge-5 and ASJ, Jalgaon

09-10-2017

18-12-2017

Hearing

Case Transfer Details Between The Courts

Regn. Number

Transfer Date

From Court Number
and Judge

To Court Number
and Judge

15/2016

08-02-2016 

11 - District Judge-4 and ASJ, Jalgaon

12 - Adhoc District Judge-1 and ASJ, Jalgaon

15/2016

20-12-2016 

12 - District Judge-7 and ASJ, Jalgaon

11 - District Judge-5 and ASJ, Jalgaon

 

 

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

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

Yes

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

Yes

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATIONS - AND STATE OF AFFAIRS OF THE COMPANY

STANDALONE

 

The revenue including operating income remained stable during the year for the Company. Tissue Culture and PE Pipes segments were major growth drivers for the Company which showed the sparkling growth rate of 19.4% and 28.7%, respectively. Hi-tech Agri Input Products Division grew by around 6%, while the Plastic Products division experienced the growth of healthy 10%. Other business division grew by around 37.23%.

 

All the assets have been provided for with depreciation based on life of assets in line with rates prescribed in Schedule II to the Companies Act, 2013 (on a prorate basis using straight line method). The Company has also prepared the Financial Statements based on IND-AS.

 

The company has reported a profit 1638.000 million for FY 2017 as against INR 611.000 million of FY 2016, recoding excellent growth of 168%. Repayment of high cost loans had a positive impact on the company’s profit and resulted in increase in profitability. 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Late Shri Bade Bhau, their Founder, believed that a Company is made by its people and for us, the people are not only their associates but the stakeholders, partners and farmers. If they keep everyone together and value their contribution to their Company, they are going a long way. And they have a new generation of talent that breathes and lives this legacy passed on by their Founder. Each a true owner of their work and a guardian of the DNA of the organisation. They think micro-level, even in their commitment.

 

In their journey so far, they have realised that there’s no single parameter for success. They measure success through the lands they reach, the paths they break, the values they carry and the lives that they inspire. Their success story involves the success of many people together. Which is why, when they look to the future, they keep everyone in mind and create shared value.

 

OVERVIEW OF BUSINESS

 

Jain Irrigation Systems Limited (JISL) is the flagship Company with operating subsidiary companies (Including fellow subsidiaries) and diverse businesses across the globe and aggregate revenues of over ` 69 billion. The Company is a leading agribusiness enterprise, present in the entire value chain. It is the second largest micro irrigation Company globally, and is the largest manufacturer of micro irrigation systems in India. It is also the largest manufacturer of Mango pulp, puree and concentrate in the world, and the third largest manufacturer of dehydrated onions. JISL is also India’s largest manufacturer of polyethylene pipes, leading PVC pipe manufacturer, and is also the world's largest manufacturer of Tissue Culture banana plants in the world. The Company is additionally into hybrid and grafted plants; greenhouses, poly and shade houses, bio- fertilizers, biogas and green energy (solar), solar water heating systems, solar panels, solar water pumps and plastic sheets. Many of it's plants are ISO 50000 and HACCP certified, and meet international FDA statute requirements. JISL renders consultancy for complete or partial project planning and implementation, e.g. watershed or wasteland and/or crop selection, and rotation. Over the preceding few years, the Company has concluded a few of acquisitions and merged some companies. Last year the Company separated its food business. All acquisitions and mergers have been a strategic fit, in order to strengthen the business and increase reach in every segment. The acquired companies have done well within 3 to 5 years after acquisition and are performing well in the countries where they operate.

 

Each of the Company's products is an outcome of an effort to conserve nature’s precious resources, through substitution or value addition. This is the legacy of a deliberate and conscious endeavour that stems from a deep-rooted concern for nature with a consistent focus for development and growth of agriculture, resulting in higher income for farmers.

 

UNSECURED LOAN:

 

Particulars 

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Bonds

 

 

Foreign currency convertible bonds (FCCB) - IFC

2832.370

2700.870

Foreign Currency convertible bonds (FCCB) - FMO – Nederlandse Inancierings- Maatschappij

Voor On twikkelings landen N.V.

342.710

328.890

Foreign currency convertible bonds (FCCB) – PROPARCO - Société De

Promotion Et De Participation Pour La

Coopération Économique

342.100

327.780

Rupee Term loans - From others IL&FS Financial Services Limited

0.000

36.720

Foreign currency Term loans (Average interest rate for loan under category is 0.91%)

 

 

UBS AG

83.140

176.010

UBS AG

131.010

231.830

UBS AG

314.380

500.670

Liability component of compound financial instruments Compulsory convertible Debentures (CCD)

205.790

187.650

Current maturities of non-current borrowings

(4995.490)

(2754.880)

SHORT TERM BORROWINGS

 

 

From banks

Unsecured loans from banks

350.000

0.000

From others

Unsecured loans from others

0.000

207.530

Total

(393.990)

1943.070

 

 

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2017

 

(INR IN MILLION)

 

PARTICULARS

 

Quarter Ended

Year Ended

 

30.09.2017

[Unaudited]

30.06.2017

[Unaudited]

30.09.2017

[Unaudited]

1. Income from operations

 

 

 

a) Sales/ Income from operation

7682.700

9723.800

17406.500

b) Other income

103.000

125.400

228.400

Total Income from Operations (net)

7785.700

9849.200

17634.900

 

 

 

 

2.Expenditure

 

 

 

a) Cost of material consumed

4233.900

5711.000

9944.900

b) Changes in inventories of finished goods,  work-in-progress and traded goods

116.800

(475.500)

(358.700)

c) Excise Duty on sale

0.000

474.700

474.700

d) Employee benefits expense

692.600

698.200

1390.800

e) Finance costs

589.800

637.900

1227.700

f) Depreciation and amortisation expense

473.000

468.800

941.800

g) Other expenses

1484.500

1945.800

3430.300

Total expenses

7590.600

9460.900

17061.500

 

 

 

 

Profit before tax & share in net profit of associate

195.100

388.300

583.400

Share of profit in associate

--

---

--

Profit before tax

195.100

388.300

583.400

Income tax expense

 

 

 

Current tax

113.000

32.100

145.100

Deferred tax

(78.300)

(52.500)

(130.800)

Total tax expense/ (Income)

34.700

(20.400)

14.300

Profit after tax

160.400

408.700

569.100

Other Comprehensive Income

 

 

 

Items that will be reclassified to profit or loss

 

 

 

Other Comprehensive Income/ (expense) (net of tax)

7.400

(0.800)

5.900

Total Comprehensive Income for the period (after tax)

167.800

407.900

405.800

 

 

 

 

Paid-up Equity Share Capital (face value of INR 2/- each)

1031.300

958.900

958.900

 

 

 

 

Other Earning excluding revaluation reserve as per Balance Sheet

 

 

 

Earnings per Equity Share (of INR 2/- each) (not annualized)

 

 

 

Basic Earnings per share 

0.31

0.79

0.78

Diluted Earnings per share 

0.31

0.79

0.78

 

Notes:

 


1) The above results were reviewed by audit committee and approved by the Board of Directors of the Company at its meeting held on 10-Nov-2017.


2) The statutory auditors have carried out limited review of the results for the quarter ended 30-Sep-2017.

3) In accordance with the Indian Accounting Standards (AS 108), the Company has disclosed segment results in the financial results.


4) According to the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, revenue for the quarter ended 30-Sep-2016 was reported inclusive of excise duty. Goods and Service Tax (“GST”) has been implemented with effect from 1-Jul-2017 which replaces Excise Duty and other input taxes. As per Ind AS 18, the revenue for the quarter ended 30-Sep-2017 is reported net of GST.

 

The revenue from operations (net of GST/excise duty) as applicable are started below

 

PARTICULARS

 

Quarter Ended

Year Ended

 

30.09.2017

[Unaudited]

30.06.2017

[Unaudited]

30.09.2017

[Unaudited]

 

 

 

 

Revenue from operation

7682.700

9723.800

7418.100

Less Excise duty

--

474.700

216.400

Net revenue from operation

7682.700

9249.100

17406.500

 


5) During the quarter ended 30-Sept-2017 36,200,000 Compulsorily Convertible Debentures of INR 80 each issued on 11-Mar-2016 to Mandala Rose Co-Investment Ltd. (Non Promoter entity) were converted into 36,200,000 Ordinary Equity Shares of INR 2 each for cash at a premium of INR 78 each aggregating to INR 2896.000 Million on 16-Sep-2017.


6) The figures have been regrouped, rearranged, reclassified or reworked as necessary to confirm to the current year accounting treatment.

 

SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES

Particulars

Quarter Ended

Year Ended

 

30.09.2017

[Unaudited]

30.06.2017

[Unaudited]

30.09.2017

[Unaudited]

A. Segment Revenue

 

 

 

Hi-tech Agri Input Products

4223.300

4734.800

8958.100

Plastic Division

2922.700

4722.700

7645.400

Agro Processing Division

--

---

--

Other Business Division

536.700

266.300

803.000

Total

7682.700

9723.800

17406.500

Less: Inter Segment Revenue

--

---

--

Net Sales/ Income from Operations

7682.700

9723.800

17406.500

 

 

 

 

B Segment Results

 

 

 

Hi-tech Agri Input Products

914.100

1226.700

2140.800

Plastic Division

306.200

340.900

647.100

Agro Processing Division

--

---

--

Other Business Division

30.600

(3.900)

26.700

Total

1250.900

1563.700

2814.600

Un-allocable expenditure (net)

 

 

 

Less :

 

 

 

Finance costs

589.800

637.900

1227.700

Other unallocable expenditure

466.000

537.500

1003.500

Profit Before tax/ Exceptional Items

195.100

388.300

583.400

Less: Exceptional Items

--

---

--

Profit Before Tax

195.100

388.300

583.400

 

 

 

 

Segment Assets

 

 

 

Hi-tech Agri Input Products

31538.100

31217.200

31538.100

Plastic Division

10364.800

8491.600

10364.800

Agro Processing Division

--

---

--

Other Business Division

3200.300

4169.100

3200.300

Unallocable

31725.100

34448.300

31725.100

Total  Assets

76828.300

78326.200

76828.3000

 

 

 

 

Segment  

 

 

 

Hi-tech Agri Input Products

5081.700

7773.700

5081.700

Plastic Division

4527.700

4481.200

4527.700

Agro Processing Division

--

---

--

Other Business Division

462.800

465.600

462.800

Unallocable

23001.300

22022.900

23001.300

Total Liabilities

33073.500

34743.400

39158.000

 

STATEMENT OF ASSETS OF LIABILITIES

 

SOURCES OF FUNDS

30.09.2016

(Unaudited)

ASSETS

 

Non-current assets

 

Property, plant and equipment

29330.800

Capital work-in-progress

249.300

Other Intangible assets

133.900

Goodwill on consolidation

0.000

Investment property

252.100

Equity Accounted investees

0.000

Investment is subsidiaries and associates

10969.200

Financial Assets

 

-         Investments

22.600

-         Loans

326.800

-         Other financial assets

1069.900

Other non-current assets

432.800

Deferred tax assets (Net)

0.000

Income tax assets (Net)

272.400

Total Non-Current Assets

43059.800

 

 

Current assets

 

Inventories

9249.200

Biological assets

595.400

Financial Assets

 

-         Trade receivables

15055.900

-         Cash and bank balances

1031.800

-         Bank balances other then (II) above

45.900

-         Loans

150.700

-         Other financial assets

573.000

Other current assets

7066.600

Total Current Assets

33768.500

 

 

TOTAL

76828.300

 

 

EQUITY AND LIABILITIES

 

Shareholders' Funds

 

Share Capital

1031.300

Other equity

42723.500

Non-controlling interest

0.000

Total Shareholders’ Funds

43754.800

 

 

Non-Current Liabilities

 

Borrowings

3263.400

Other financial liabilities

578.400

Provisions

219.000

Deferred tax liabilities

3779.700

Total Non-current Liabilities

7840.500

 

 

Current Liabilities

 

Borrowings

9422.900

Trade payables

7122.900

Other financial liabilities

6675.200

Provisions

118.600

Other Current liabilities

1893.400

Income tax liabilities

0.000

Total Current Liabilities

25233.000

 

 

Total Liabilities

33073.5000

 

 

TOTAL

76828.300

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

A) Claims not acknowledged as debts in respect of:

 

 

Customs and excise duty [paid under protest INR 29.37 (PY INR 38.32)]

329.210

505.170

Excise duty [paid under protest INR 12.95 (PY INR 21.90 )]

273.600

457.750

Service Tax [paid under protest INR 16.42 (PY INR 16.42)]

55.610

47.420

Other taxes & levies [paid under protest INR 111.46 (PY INR 43.41)]

194.220

199.370

Sales Tax,VAT,CST [paid under protest INR 93.87 (PY INR 25.82 )]

167.370

172.520

Income Tax [paid under protest INR 17.59 (PY INR 17.59 )]

26.850

26.850

Others (legal case)

79.720

81.790

Performance guarantees given by the Company’s

bankers in the normal course of business

5575.920

6365.340

Export obligation towards duty saved amount under

EPCG scheme

15.340

32.900

Corporate guarantees given for repayment of indebtedness of associate/overseas subsidiaries

13841.720

3221.350

Corporate counter guarantee given for repayment of indebtness of Kibbuz Naan Israel

324.190

663.330

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

AMOUNT

ADDRESS

1

G60808409

100132278

ORIENTAL BANK OF COMMERCE

03/11/2017

1500000000.0

LARGE CORPORATE BRANCH14TH FLOOR, F-WING, MAKER TOWER, CUFFE PARADEMUMBAIMH400005IN

2

G56378839

100127491

EXPORT IMPORT BANK OF INDIA

11/10/2017

2000000000.0

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRECOMPLEX, CUFFE PARADE,MUMBAIMH400005IN

3

G56956667

100128103

EXPORT-IMPORT BANK OF INDIA

27/09/2017

830000000.0

CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN

4

G60322203

100131557

EXPORT-IMPORT BANK OF INDIA

27/09/2017

3250000000.0

CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN

5

G45944303

100102908

BANK OF BARODA

26/05/2017

300000000.0

CORPORATE FINANCIAL SERVICES BRANCH3, WALCHAND HIRACHAND MARG, 1ST FLOOR,BALLARD PIERMUMBAIMH400001IN

6

G46822581

100105364

SYNDICATE BANK

26/05/2017

1600000000.0

LARGE CORPORATE BRANCH3RD FLOOR, 10 HOMJI STREET, FORTMUMBAIMH400023IN

7

G41602368

100091638

STATE BANK OF INDIA

15/03/2017

1170000000.0

"THE CAPITAL", A WING,16TH FLOORBANDRA KURLA COMPLEX, BANDRA (E)MUMBAIMH400051IN

8

G32533283

100070163

EXPORT-IMPORT BANK OF INDIA

28/12/2016

700000000.0

CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN

9

G08246035

100040908

IDBI TRUSTEESHIP SERVICES LIMITED

13/07/2016

1000000000.0

ASIAN BUILDING, 17, R. KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN

10

G06307201

100034985

UNION BANK OF INDIA

14/06/2016

400000000.0

INDUSTRIAL FINANCE BRANCH, UNION BANK BHAVAN239, VIDHAN BHAVAN MARG, NARIMAN POINTMUMBAIMH400021IN

 

FIXED ASSETS:

 

v  TANGIBLE ASSETS

·         Free hold land

·         Lease hold land

·         Factory buildings and Godown

·         Green/poly/shed houses

·         Plant and equipment’s

·         Furniture and fixtures

·         Office equipment

·         Vehicles

·         Orchard activities

·         Live stock

 

v  INTANGIBLE ASSETS

·         Goodwill

·         Product development

·         Computer software

·         Technical knowhow

·         Non-compete fees

 

 

 

 

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

INR

US Dollar

1

INR 63.83

UK Pound

1

INR 86.28

Euro

1

INR 76.14

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KVT

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

YES

--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)

 

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.