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|
|
MIRA INFORM REPORT
|
Report No. : |
488490 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
JAKSON ENGINEERS LIMITED (w.e.f. 08.09.2003) |
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Formerly Known
As : |
JAKSON AND COMPANY PRIVATE LIMITED |
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Registered
Office : |
A-43, Phase – II (Extension), Hosiery Complex, Opposite NEPZ, Noida –
201305, Uttar Pradesh |
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Tel. No.: |
91-120-4526136 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
16.01.1981 |
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|
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Com. Reg. No.: |
55-011261 |
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Capital
Investment / Paid-up Capital : |
INR 3.347 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U74210DL1981PLC011261 |
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IEC No.: |
0594057116 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACJ1625K |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing of Control Panels and Trading of Electrical Generating Sets Engines along with in the Business of Erection, Building and Installation of Solar Power Plants. (Registered Activity) |
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|
|
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No. of Employees
: |
Information denied by the management |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Jakson Engineers Limited (JEL) was incorporated on January 16, 1981 and
is engaged in the manufacturing of panels, solar products and switchgears. It
is an established company having excellent track. For the financial year ended 2017, the company has witnesses a healthy
growth in its revenue and has achieved fair profit margin at 2.35%
(Approximately). The company possess robust financial profile marked by strong net
worth base along with negligible debt recorded and favorable gap between
trade payables to its trade receivables. The company also derives strength from its long established track
record of business operations and decent earning per share of the company
(i.e., earning per share of INR 13781 against face value of INR 100). Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 Bank A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 23, 2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
February 23, 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 30.01.2018
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 BY
|
Name : |
Mr. Avinash Kumar |
|
Designation : |
Senior Executive |
|
Contact No.: |
91-9319447530 |
|
Date : |
27.01.2018 |
LOCATIONS
|
Registered Office / Head Office : |
A-43, Phase – II (Extension), Hosiery Complex, Opposite NEPZ, Noida –
201305, Uttar Pradesh, India |
|
Tel. No.: |
91-11-65457615 / 17 91-120-4302600/ 4526100 / 4740200 |
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Mobile No.: |
91-9319447530 (Mr. Avinash Kumar) |
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Fax No.: |
91-11-46130573 / 4302646 |
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E-Mail : |
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|
Website : |
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|
Locality : |
Commercial cum Industrial |
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|
|
|
Regional Office : |
A-626, 6th Floor, Tower - A, DLF Tower, Jasola, New
Delhi-110044, India |
|
Tel. No.: |
91-120-4302600/ 4526100 |
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Fax No.: |
91-120-4302646 |
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Plant : |
Plot No 25, Ecotech III, Udyog Kendra, Greater Noida – 201306, Delhi, India |
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Branch Office : |
Located at:
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International Office : |
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Domestic Office : |
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sameer Gupta |
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Designation : |
Managing Director |
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Address : |
19/49, Punjabi Bagh, New Delhi-110026, India |
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Date of Birth/Age : |
11.12.1966 |
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Qualification : |
B E(Electronics) |
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|
AADPG8131D |
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Date of Appointment : |
01.12.1989 |
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DIN No : |
00513925 |
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Other Directorship:
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Name : |
Mr. Sundeep Gupta |
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Designation : |
Managing Director |
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|
Address : |
19/49, Punjabi Bagh, New Delhi-110026, India |
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Date of Birth/Age : |
09.04.1968 |
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Qualification : |
BE in Computer Science |
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PAN No : |
AADPG8124E |
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Date of Appointment : |
01.10.1996 |
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DIN No : |
00514034 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Satish Kumar Gupta |
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Designation : |
Director |
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Address : |
19/49, Punjabi Bagh, New Delhi-110026, India |
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Date of Birth/Age : |
20.02.1936 |
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Qualification : |
B.Com |
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PAN No : |
AAOPG4742K |
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Date of Appointment : |
01.04.2007 |
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DIN No : |
00513975 |
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Other Directorship:
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Name : |
Mr. Jagjeet Singh Deswal |
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Designation : |
Director |
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Address : |
B-318, Ground Floor, Saraswati Vihar, North West, District: New Delhi -110034, India |
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Date of Birth/Age : |
05.07.1968 |
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Date of Appointment : |
10.03.2017 |
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DIN No : |
07386612 |
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Other Directorship:
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|
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|
Name : |
Mr. Debashish Mazumdar |
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Designation : |
Director |
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Address : |
B-150, Freedom Fighter Enclave, Neb Sarai, Ignou Road, New Delhi - 110068, India |
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Date of Appointment : |
10.03.2017 |
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DIN No : |
00119396 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Avinash Kumar |
|
Designation : |
Senior Executive |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Satish Kumar Gupta |
|
10530 |
|
Sameer Gupta |
|
4155 |
|
Sundeep Gupta |
|
2180 |
|
Savita Gupta |
|
5400 |
|
Anita Gupta |
|
1975 |
|
Raghav Gupta |
|
10 |
|
Bharat Gupta |
|
10 |
|
Total |
|
24260 |
List of Allottees
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Jackson Limited, India |
|
9214 |
Equity Share Break up (Percentage of Total Equity)
As on 06.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing of Control Panels and Trading of Electrical Generating Sets Engines along with in the Business of Erection, Building and Installation of Solar Power Plants. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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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 : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
Note : (i) Vehicle loans are secured by the hypothecation of vehicles thus purchased and are repayable in equal monthly installments ranging from 36 to 60 months carrying interest @ 10.25%-10.51% p.a. |
|
Financial
Institution : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
L - 41, Connaught Circus, New Delhi-110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Wholly owned Indian
subsidiaries Jakson Power Private Limited : |
|
|
|
|
|
Wholly owned Foreign subsidiaries Jakson International Pte Limited : |
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|
|
|
|
Entities where significant influence is exercised by KMP and having
transactions with the company Jakson Limited : |
|
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
After 06.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33474 |
Equity Shares |
INR 100/- each |
INR 3.347 Million |
|
|
|
|
|
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24260 |
Equity Shares |
INR 100/- each |
INR 2.460 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 |
2.426 |
2.426 |
2.426 |
|
(b) Reserves & Surplus |
2043.298 |
1708.980 |
1457.030 |
|
(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 ( |
2045.724 |
1711.406 |
1459.456 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
753.713 |
358.366 |
136.178 |
|
(b) Deferred tax liabilities
(Net) |
0.320 |
3.924 |
0.000 |
|
(c) Other long term
liabilities |
8.138 |
14.438 |
0.448 |
|
(d) long-term provisions |
11.843 |
9.260 |
6.503 |
|
Total
Non-current Liabilities |
774.014 |
385.988 |
143.129 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
572.987 |
97.784 |
45.040 |
|
(b) Trade payables |
3969.286 |
2118.830 |
1144.213 |
|
(c) Other current liabilities |
730.889 |
453.841 |
242.583 |
|
(d) Short-term provisions |
0.904 |
26.669 |
0.409 |
|
Total
Current Liabilities |
5274.066 |
2697.124 |
1432.245 |
|
|
|
|
|
|
TOTAL |
8093.804 |
4794.518 |
3034.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
706.218 |
707.023 |
589.100 |
|
(ii) Intangible Assets |
9.124 |
12.656 |
5.583 |
|
(iii) Capital work-in-progress |
32.338 |
52.560 |
35.080 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
894.144 |
760.787 |
630.017 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
6.149 |
|
(d) Long-term Loan and Advances |
106.353 |
95.210 |
121.017 |
|
(e) Other Non-current assets |
135.129 |
35.980 |
14.938 |
|
Total
Non-Current Assets |
1883.306 |
1664.216 |
1401.884 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
291.047 |
92.924 |
234.248 |
|
(b) Inventories |
434.189 |
492.090 |
527.407 |
|
(c) Trade receivables |
4521.985 |
1393.006 |
718.614 |
|
(d) Cash and cash equivalents |
145.348 |
764.045 |
67.979 |
|
(e) Short-term loans and
advances |
632.130 |
320.139 |
61.756 |
|
(f) Other current assets |
185.799 |
68.098 |
22.942 |
|
Total
Current Assets |
6210.498 |
3130.302 |
1632.946 |
|
|
|
|
|
|
TOTAL |
8093.804 |
4794.518 |
3034.830 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
14218.136 |
3895.487 |
3510.586 |
|
|
Other Income |
140.422 |
323.820 |
88.464 |
|
|
TOTAL
|
14358.558 |
4219.307 |
3599.050 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
11735.781 |
2242.546 |
827.553 |
|
|
Purchases of Stock-in-Trade |
931.879 |
948.546 |
2168.764 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
37.400 |
105.816 |
(34.096) |
|
|
Employees benefits expense |
289.473 |
223.240 |
176.055 |
|
|
Other expenses |
508.565 |
241.996 |
175.803 |
|
|
Prior Period items |
0.000 |
0.000 |
6.184 |
|
|
Exceptional items before tax |
183.299 |
0.000 |
0.000 |
|
|
TOTAL |
13686.397 |
3762.144 |
3320.263 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
672.161 |
457.163 |
278.787 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
131.643 |
17.139 |
5.698 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
540.518 |
440.024 |
273.089 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
96.390 |
79.952 |
85.466 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
444.128 |
360.072 |
187.623 |
|
|
|
|
|
|
|
Less |
TAX |
109.810 |
108.122 |
56.722 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
334.318 |
251.950 |
130.901 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3.981 |
2.098 |
5.104 |
|
|
TOTAL
EARNINGS |
3.981 |
2.098 |
5.104 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3390.709 |
444.043 |
159.061 |
|
|
Capital Goods |
21.238 |
0.000 |
0.000 |
|
|
TOTAL
IMPORTS |
3411.947 |
444.043 |
159.061 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
13781.000 |
10385.000 |
5395.750 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
7.652 |
5.112 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(826.650) |
471.885 |
381.591 |
|
Net cash flows from (used in) operating activity |
(954.239) |
347.331 |
372.461 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
116.09 |
130.52 |
74.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.14 |
2.80 |
4.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
114.37 |
242.35 |
139.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.55 |
0.93 |
0.53 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.90 |
0.59 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.75 |
0.64 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.65 |
0.27 |
0.12 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.58 |
1.58 |
0.98 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.37 |
0.45 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.11 |
26.67 |
48.93 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.35 |
6.47 |
3.73 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.13 |
5.25 |
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
16.34 |
14.72 |
8.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.18 |
1.16 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.10 |
0.98 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.25 |
0.36 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
550.02 |
190.13 |
74.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.18 |
1.16 |
1.14 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2.426 |
2.426 |
2.426 |
|
Reserves & Surplus |
1457.030 |
1708.980 |
2043.298 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1459.456 |
1711.406 |
2045.724 |
|
|
|
|
|
|
long-term borrowings |
136.178 |
358.366 |
753.713 |
|
Short term borrowings |
45.040 |
97.784 |
572.987 |
|
Total
borrowings |
181.218 |
461.262 |
1334.352 |
|
Debt/Equity
ratio |
0.124 |
0.270 |
0.652 |
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 |
3510.586 |
3895.487 |
14218.136 |
|
|
|
10.964 |
264.990 |
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 |
3510.586 |
3895.487 |
14218.136 |
|
Profit |
130.901 |
251.950 |
334.318 |
|
|
3.73% |
6.47% |
2.35% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.426 |
2.426 |
|
(b) Reserves & Surplus |
|
2142.969 |
1770.344 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
115.295 |
41.715 |
|
Total
Shareholders’ Funds |
|
2260.690 |
1814.485 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3518.160 |
1691.128 |
|
(b) Deferred tax liabilities
(Net) |
|
0.319 |
3.924 |
|
(c) Other long term
liabilities |
|
9.138 |
15.438 |
|
(d) long-term provisions |
|
11.843 |
9.260 |
|
Total
Non-current Liabilities |
|
3539.460 |
1719.750 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
665.335 |
257.255 |
|
(b) Trade payables |
|
4103.572 |
2187.453 |
|
(c) Other current liabilities |
|
1093.257 |
636.945 |
|
(d) Short-term provisions |
|
17.004 |
35.668 |
|
Total
Current Liabilities |
|
5879.168 |
3117.321 |
|
|
|
|
|
|
TOTAL |
|
11679.318 |
6651.556 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4709.245 |
2681.645 |
|
(ii) Intangible Assets |
|
9.124 |
12.709 |
|
(iii) Capital work-in-progress |
|
197.332 |
62.073 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
22.095 |
22.120 |
|
(c) Deferred tax assets (net) |
|
10.244 |
43.966 |
|
(d) Long-term Loan and Advances |
|
129.583 |
117.581 |
|
(e) Other Non-current assets |
|
175.593 |
154.112 |
|
Total
Non-Current Assets |
|
5253.216 |
3094.206 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
350.035 |
146.788 |
|
(b) Inventories |
|
583.651 |
704.131 |
|
(c) Trade receivables |
|
4361.022 |
1408.572 |
|
(d) Cash and cash equivalents |
|
248.463 |
884.248 |
|
(e) Short-term loans and
advances |
|
642.629 |
278.050 |
|
(f) Other current assets |
|
240.302 |
135.561 |
|
Total
Current Assets |
|
6426.102 |
3557.350 |
|
|
|
|
|
|
TOTAL |
|
11679.318 |
6651.556 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
15457.467 |
4732.081 |
|
|
Other Income |
|
142.768 |
122.330 |
|
|
TOTAL
|
|
15600.235 |
4854.411 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
12218.471 |
2571.000 |
|
|
Purchases of Stock-in-Trade |
|
931.879 |
948.547 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
37.400 |
105.816 |
|
|
Employees benefits expense |
|
314.305 |
253.537 |
|
|
Other expenses |
|
575.924 |
297.628 |
|
|
Prior Period items |
|
0.000 |
(3.298) |
|
|
Exceptional items before tax |
|
183.299 |
0.000 |
|
|
TOTAL |
|
14261.278 |
4173.230 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1338.957 |
681.181 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
354.318 |
185.538 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
984.639 |
495.643 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
445.741 |
323.297 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
538.898 |
172.346 |
|
|
|
|
|
|
|
Less |
TAX |
|
171.698 |
146.005 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE MINORITY INTEREST |
|
367.200 |
26.341 |
|
|
|
|
|
|
|
|
MINORITY
INTEREST |
|
11.207 |
0.897 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
378.407 |
27.238 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
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 |
No |
|
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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company has been shifted from A-626, 6th Floor, DLF Tower-A, Jasola, New Delhi – 110076, India to the present address w.e.f. 29.07.2013
COMPANY OVERVIEW
The Company is a public company, domiciled in India under the provision of the Companies Act, 1956 (the Act). The Company is engaged in manufacturing of control panels and trading of electrical generating sets engines along with in the business of erection, building and installation of solar power plants.
REVIEW OF OPERATIONS
In FY 2017, the Company recorded a total revenue of INR 14358.558 Million an increase of about 240.31% from INR 4219.307 Million in FY 2016. The gross operating profit of the Company for FY 2017 stood at INR 855.500 Million in comparison to INR 457.200 Million in the previous year, an increase of approx. 87.12% and the net profit was INR 334.318 Million as compared to INR 251.901 Million in the previous financial year. Finance cost increased to INR 131.643 Million from 17.139 Million in FY 2016.
The net worth of the Company was INR 2045.724 Million in FY’17 as compared to INR 1711.406 Million in FY’16 and total debt was INR6048.100 Million as on 31.03.2017. Total debt to equity ratio was 2.96.
The Company has already executed land based solar power EPC of 350 MW and is in the process of execution of 400 MW in various parts of Country. Similarly, out of 48MW portfolio on account of solar rooftop EPC projects, the Company has already executed 26MW and another 16 MW is under execution. Some of the prominent completed land based and solar roof-top projects are 65MW at NLC, Tamil Nadu, 42MW at Punj Lloyd, Mansa(Punjab), 65MW at NTPC, Rajasthan 508KW at President’ Estate, 250KW at DMRC, 540KW at Adani Group, Rajasthan, 250KW at Shastri Bhawan, Delhi, 400 KW at Yamuna Sports Complex, Delhi, and 600KW at Varanasi Airport, UP. The Company is already in the process of execution of high voltage substations and multi-disciplinary rail projects at various places in India besides much headway into catering the requirements of Indian army.
The Company has a manufacturing plant of 70MW capacity covering space admeasuring 150,000 sq.ft at Greater Noida and is carrying, inter alia, on the manufacture of Solar Photovoltaic Modules, Solar Module Mounting Structure and other solar retail products. All the products manufactured at the site meet IEC standards.
FUTURE OUTLOOK
The Company is optimistic as regards the future of solar power, as solar energy is the only alternative to long term power requirements of the Country. Over the years, the Company has delivered projects ranging upto 100 Mega Watts and looking forward to deliver even bigger projects. The Company focuses on setting up and owning Solar Power Plants which sell power to State and Central utilities under long term Power Purchase Agreements on its own or through subsidiaries. The commissioned sites include 20 MW solar power plant in Bap, Rajasthan and a 10 MW solar power plant in Lalitpur, U.P. The Company plans to expand its Independent Power Producer portfolio to a total of 200 MW by 2017–18.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
748.000 |
351.885 |
|
Total |
748.000 |
351.885 |
INDEX
OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G50088624 |
100116166 |
AXIS BANK LIMITED |
20/06/2017 |
- |
500000000.0 |
TRISHUL, 3RD FLOOR, OPPOSITE SAMARTHESWAR TEMPLE,LAW GARDEN, ELLIS BRIDGE, AHMEDABAD GJ380006IN |
|
2 |
G41998188 |
100092546 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
07/04/2017 |
- |
400000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORT, MUMBAI 400001IN |
|
3 |
G54964580 |
100047684 |
INDUSIND BANK LTD. |
12/07/2016 |
18/08/2017 |
1000000000.0 |
DR. GOPAL DAS BUILDING28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
4 |
G28383693 |
100037949 |
PTC INDIA FINANCIAL SERVICES LIMITED |
30/06/2016 |
08/11/2016 |
1900000000.0 |
7TH FLOOR, TELEPHONE EXCHANGE BUILDING8 BHIKAJI CAMA PLACE, NEW DELHI 110066I |
|
5 |
G04827572 |
100030239 |
ICICI BANK LIMITED |
26/05/2016 |
- |
700000000.0 |
LANDMARK RACE COURCE CIRCLE ALKAPURI BARODA 390015, GUJARAT, INDIA |
|
6 |
G28665636 |
100028899 |
RBL BANK LIMITED |
04/04/2016 |
08/11/2016 |
1380000000.0 |
SHAHUPURI,KOLHAPUR, KOLHAPUR 416001IN |
|
7 |
G02787752 |
100024382 |
BARCLAYS BANK PLC |
21/09/2015 |
- |
100000000.0 |
801-808, CEEJAY HOUSE SHIVSAGAR ESTATE, DR A. BESANT ROAD, WORLI, MUMBAI 400018IN |
|
8 |
B83027995 |
10444947 |
STANDARD CHARTERED BANK |
27/08/2013 |
- |
1400000000.0 |
(ACTING AS AN SECURITY AGENT) C D UNARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI110001IN |
|
9 |
B83027375 |
10444940 |
STANDARD CHARTERED BANK |
27/08/2013 |
- |
1400000000.0 |
(ACTING AS AN SECURITY AGENT) C D UNARAIN MANZIL, 23 BARAKHAMBA ROAD,NEW DELHI110001 INDIA |
|
10 |
G44293710 |
10444490 |
YES BANK LIMITED |
14/08/2013 |
24/03/2017 |
1500000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLI MUMBAI 400018 INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
4.245 |
3.480 |
|
Guarantees |
710.313 |
1697.391 |
|
Other money for which company is contingently liable |
2417.601 |
1713.213 |
|
Total contingent
liabilities |
3232.160 |
3414.084 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
PRESS RELEASE
JAKSON GROUP TO INVEST INR 7000.000 MILIION TO SET UP NEW SOLAR
PLANT
Date: Jul 24, 2017
NEW DELHI: At a time when most domestic solar manufacturers are struggling with idle capacity in the face of cheap solar cells and modules being imported from China, Noida-based Jakson Group is setting up a greenfield solarplant in a seemingly contrarian decision.
It is investing INR 6500-7000.000 Million in a new plant in Gujarat that will
have a capacity of 1,000 MW of solar modules and 250 MW of solar cells in three
years, Jakson Group CMD Sameer Gupta said. “We’ve identified the plots where
the plant will be based and expect to have 500 MW of module manufacturing
capacity up and running by June 2018, reaching our full capacity by mid-2020,”
he told ET.
The firm, which has a small 70 MW manufacturing plant in Greater Noida at
present, is confident about competing with Chinese imports. “The cost difference
between the modules we make at Jakson and Chinese ones is not more than 2%,”
Gupta said.
Prices of Chinese solar cells and modules have dropped steeply in the last two
years, but Gupta does not think they will do so any further. “Prices fell because
of overproduction in China, but now Chinese demand is picking up,” he said.
“China has shut down $350 billion worth of coal-fired power plants and is
investing in renewable energy, so demand in China is bound to keep rising,
which in turn will raise prices of solar equipment too,” Gupta said. “Already,
in the last three months, the cost of Chinese modules has gone up from around
28-29 cents per watt to 31-32 cents.”
But even if Chinese equipment gets cheaper, it will not
spell disaster for Jakson. “We’ve done extensive research, getting PwC to
prepare a report for us. Even in the worst case scenario of Chinese module
prices falling to 25-26 cents per watt, we will not be in the danger zone
though obviously profitability will be affected,” said Gupta.
He said Jakson is funding the project through internal accruals and debt in the ratio of about 30:70. “We chose to locate in Gujarat as there will be ports close by, since we expect to export a good part of our production, especially to African countries,” Gupta said.
India’s domestic module manufacturing capacity is currently around 8,113 MW,
out of which 5,286 MW are operational. However, actual manufacturing in 2016-17
was barely 1,000-1,500 MW, according to Mercom Capital Group that tracks the
segment. That is because there is little demand for domestic products because
Chinese imports are substantially cheaper.
Around 90% of the modules used in Indian solar projects are imported, mostly
from China. Indian solar manufacturers have even petitioned the ministry of
commerce to impose anti-dumping duty on imported solar cells and modules in a
desperate effort to stay afloat.
But Gupta is unfazed. “In our case, it will be backward integration,” he said.
“We are solar developers ourselves and also major EPC players in the solar
business. Our own projects will consume about 500 MW, or half our production
capacity.”
One of the oldest of India’s power companies, Jakson Group, started in 1947, has ventured heavily into solar in the last few years, running 60 MW of ground mounted solar projects and 6.5 MW of solar rooftop. It will have put up around 450 MW of EPC solar projects by end 2017.
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 records 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 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRUP |
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.