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MIRA INFORM REPORT
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Report No. : |
499057 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
JASMA ENGINEERING LLP |
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|
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|
Formerly Known
As : |
JASMA ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
12th Floor, Kamla Hub, JVPD Road No.1, Vile Parle (West),
Mumbai-400049, Maharashtra |
|
Tel. No.: |
91-22-26209191 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
21.02.2015 |
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|
LLPIN : |
AAD-4215 |
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Total
Obligation of Contribution: |
INR 15.892 Million |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does
not have export and import) |
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|
GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Manufacturer of machinery and equipments. [Registered Activity] |
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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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 45000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2012 as a private limited company
with the name of Jasma Engineering Private Limited “ and later on it got
converted in to Limited Liability Partnership firm in the year 2015 with the
name of “Jasma Engineering LLP”. It is a manufacturer of machinery and equipments. For the financial year 2017, the firm has earned revenue of INR 87.318
million along with fair profit margin of 33.04%. The moderate financial profile of the company is marked by comfortable
capital base along with negligible debt level. Payment seems to be slow but correct. In view of aforesaid, the subject can be considered for business
dealings with some caution. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 24.03.2018.
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-COOPERATIVE (Tel. No.:91-22-26209191)
LOCATIONS
|
Registered Office : |
12th Floor, Kamla Hub, JVPD Road No.1, Vile Parle (West),
Mumbai-400049, Maharashtra, India |
|
Tel. No.: |
91-22-26209191 |
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Fax No.: |
91-22-26201394 |
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E-Mail : |
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Website : |
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Factory : |
15, Mistry Industrial Estate, MIDC Cross Road A, Andheri (East), Mumba-i 400093, Maharashtra, India |
PARTNERS
As on: 31.03.2017
|
Name : |
Mr. Paresh Deep Mehta |
|
Designation : |
Designated Partner |
|
Address : |
901, Nanak Niwas 10/3 Azad Nagar, CHS, N. S. Road Jvpd, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Appointment : |
01.04.2017 |
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DPIN No.: |
07500934 |
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|
|
|
Name : |
Mr. Abhay Nilkanth Rayarikar |
|
Designation : |
Designated Partner |
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Address : |
A33/68 Sumangal Society Anand Nagar, Dahisar (East), Thane-400068, Maharashtra, India |
|
Date of Appointment : |
01.04.2017 |
|
DPIN No.: |
07798774 |
OBLIGATION DETAILS
As on: 2017
|
Names of Parson |
Obligation
of Contribution (INR In Million) |
|
Paresh Jaswantrai Mehta |
0.050 |
|
Jasmine Paresh Mehta |
0.050 |
|
Total |
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of machinery and equipments. [Registered Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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
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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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Auditors : |
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Name : |
N.K.P. Jain and Assocaites Chartered Accountants |
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Address : |
13th Floor, Bakhtawar, 229, Nariman Point, Mumbai-400021,
Maharashtra, India |
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Tel. No.: |
91-22-61214444 |
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Fax No.: |
91-22-22875771 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
(INR in Million)
|
Name of the partner |
PSR % |
As at 31.03.2016 (INR) |
Additions during the year (INR) |
Withdrawals during the year (INR) |
Total (INR) |
Share of profit / (Loss) for the year (INR) |
As at 31.03.2017 (INR) |
|
Paresh Metha |
50% |
0.093 |
35.681 |
44.478 |
(8.704) |
14.424 |
5.719 |
|
Jasmine Mehta |
50% |
0.014 |
0.214 |
4.479 |
(4.251) |
14.424 |
10.173 |
|
Total |
100% |
0.107 |
35.895 |
48.957 |
(12.955) |
28.848 |
15.892 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners contribution |
15.892 |
0.107 |
0.085 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.892 |
0.107 |
0.085 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
3.898 |
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
3.898 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
19.790 |
0.107 |
0.085 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.793 |
0.000 |
0.000 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
0.119 |
0.000 |
0.000 |
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|
Sundry Debtors |
6.553 |
0.000 |
0.000 |
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|
Cash & Bank Balances |
15.666 |
0.104 |
0.100 |
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|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.848 |
0.025 |
0.000 |
|
Total Current Assets |
23.186 |
0.129 |
0.100 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.891 |
0.022 |
0.000 |
|
|
Other Current Liabilities |
4.523 |
0.000 |
0.015 |
|
|
Provisions |
0.775 |
0.000 |
0.000 |
|
Total Current Liabilities |
7.189 |
0.022 |
0.015 |
|
|
Net Current
Assets |
15.997 |
0.107 |
0.085 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.790 |
0.107 |
0.085 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
87.318 |
0.000 |
0.000 |
|
|
Other Income |
0.936 |
0.000 |
0.000 |
|
|
TOTAL |
88.254 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases made for resale |
31.889 |
0.000 |
0.000 |
|
|
Increase/(decrease) in
stock |
(0.119) |
0.000 |
0.000 |
|
|
Personal expenses |
5.685 |
0.000 |
0.000 |
|
|
Administrative expenses |
3.436 |
0.023 |
0.000 |
|
|
Payment to auditors |
0.049 |
0.000 |
0.034 |
|
|
Selling expenses |
2.327 |
0.000 |
0.000 |
|
|
Insurance expenses |
0.001 |
0.000 |
0.000 |
|
|
TOTAL |
43.268 |
0.023 |
0.034 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
44.986 |
(0.023) |
(0.034) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.186 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
44.800 |
(0.023) |
(0.034) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.678 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
44.122 |
(0.023) |
(0.034) |
|
|
|
|
|
|
|
Less |
TAX |
15.275 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
28.847 |
(0.023) |
(0.034) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
27.39 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
13.32 |
0.00 |
0.00 |
|
|
|
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|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
21.64 |
0.00 |
0.00 |
|
|
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|
|
Inventory Turnover (Operating Income / Inventories) |
378.03 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
11.86 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.41 |
0.17 |
0.15 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.25 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.70 |
0.21 |
0.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
241.86 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
33.04 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
106.92 |
(17.83) |
(34.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
181.52 |
(21.50) |
(40.00) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.09 |
5.86 |
6.67 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.08 |
5.86 |
6.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.59 |
0.83 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.25 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.09 |
5.86 |
6.67 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
26 |
Turnover of firm for last about two years
one month |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last last about two
years one month |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
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 |
UNSECURED LOANS:
(INR In Million)
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Vechile Loan |
3.898 |
0.000 |
|
Total |
3.898 |
0.000 |
Note: Vehicle loan is
repayable in 48 monthly installments starting from 02.11.2016 and ending on 02.10.2020
and rate of interest is 11.10%.
INDEX OF
CAHREGS: NO CHARGES EXISTS FOR
LLP
FIXED ASSETS:
- Motor Car
- Computer
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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.