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|
|
MIRA INFORM REPORT
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Report No. : |
510048 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
JK LAKSHMI CEMENT LIMITED (w.e.f. 2005) |
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Formerly Known
As : |
J K CORP LIMITED (w.e.f. July 1994) STRAW PRODUCTS LIMITED |
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Registered
Office : |
Jayakaypuram Basant Garh, District - Sirohi -307019, Rajasthan |
|
Tel. No.: |
91-2971-244409/ 244410 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
06.08.1938 |
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Com. Reg. No.: |
17-019511 |
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Capital
Investment / Paid-up Capital : |
INR 588.500 Million |
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|
|
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CIN No.: [Company Identification
No.] |
L74999RJ1938PLC019511 |
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IEC No.: |
1306006741 |
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GSTIN : |
22AAACJ6715G2ZW |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACJ6715G |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in manufacturing of cement and a wide range of cement products including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC) and Portland Slag Cement (PSC). [Registered Activity] |
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|
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|
No. of Employees
: (As on 31.03.2017) |
1456 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
JK Lakshmi Cement (JKCL) is a part of JK Group, incorporated in the year 1938 which is primarily engaged into manufacturing cement as well as ready-mix concrete and Plaster of Paris (POP). The company has achieved decent growth of 17.24% in its revenue for the financial year 2018 as compared to previous year and it has been able to maintain fair profit margin. The rating draws comfort by healthy business risk profile marked by established market position in the northern region & highly cost-efficient operations, and healthy financial flexibility. Rating continues to derive strength by recovery of cement industry which was impacted post demonetisation where on Y-O-Y basis, there was de-growth till March 2017. However, there has been improvement from March 2017 onwards in realization. The company has its share price trading at around INR 387.55 on BSE as on 18th May 2018 as against its face value of INR 5. These rating strengths are partially offset by susceptibility to risks relating to input cost, realizations and cyclicality in the cement industry. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
CRISIL |
|
Rating |
Commercial Paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
11.05.2018 |
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
31-03-2018.
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 19.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
Management non-cooperative (Tel No.: 91-141-2741159)
LOCATIONS
|
Registered Office/ Factory 1 : |
Jayakaypuram Basant Garh, District - Sirohi -307019, Rajasthan, India |
|
Tel. No.: |
91-141-2741159 91-2971-244409/ 244410 |
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Fax No.: |
91-2971-244417 |
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E-Mail : |
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Website : |
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Administrative Office : |
Nehru House, 4 Bahadur Shah Zafar Marg, New Delhi – 110002, India |
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Tel No.: |
91-11-33001142/ 12 |
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E-Mail : |
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Head Office: |
305-307, 2nd Floor, Apex Mall, Near Mothi Sons, Jewellers,
Tonk Road, Lal Koti, Jaipur-302015, Rajasthan, India |
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Factory 2 : |
Village Dastan, Taluka Palsana, District Surat-394310, Gujarat, India |
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Factory 3 : |
Malpuri Khurd, Dhamda, Khasadlh, P.O. Ahiwar District: Durg- 491001, Chhattisgarh, India |
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Factory 4 : |
Village Moti Bhoyan, District : Gandhinagar - 38010, Gujarat, India |
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Tel No.: |
91-2764-281939 |
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Factory 5 : |
Village Bajitpur, P.O. Jhamri, Tah. Matenhail, District: Jhajjar-124507, Haryana, India |
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Tel No.: |
91-1251-201011 - 14 |
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Branch Offices: |
Located at :
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DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Bhupendranath Bhargava |
|
Designation : |
Director |
|
Address : |
B/1201, Gulmohar Apartments, Ceaser Road, Amboli, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Appointment : |
03.04.1997 |
|
DIN No.: |
00001823 |
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|
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|
Name : |
Mr. Nand Gopal Khaitan |
|
Designation : |
Director |
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Address : |
3, Queens Park, Kolkata - 700019, West Bengal, India |
|
Date of Appointment : |
02.12.1993 |
|
DIN No.: |
00020588 |
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|
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|
Name : |
Mr. Kashi Nath Memani |
|
Designation : |
Director |
|
Address : |
177C, Western Avenue, Lane No. 7 ,Sainik Farms, New Delhi - 110062, India |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
00020696 |
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|
Name : |
Mr. Pradeep Dinodia |
|
Designation : |
Director |
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Address : |
A-9a, Maharani Bagh, New Delhi - 110065, India |
|
Date of Appointment : |
16.03.2009 |
|
DIN No.: |
00027995 |
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|
Name : |
Mr. Raghupati Singhania |
|
Designation : |
Director |
|
Address : |
40, Friends Colony(East), New Delhi, Delhi - 110065, India |
|
Date of Appointment : |
04.06.1991 |
|
DIN No.: |
00036129 |
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|
|
Name : |
Mr. Shailendra Chouksey |
|
Designation : |
Whole-Time Director |
|
Address : |
C-18, Sector 44, Noida -201301, Uttar Pradesh, India |
|
Date of Appointment : |
01.08.2007 |
|
DIN No.: |
00040282 |
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|
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|
Name : |
Mr. Bharat Hari Singhania |
|
Designation : |
Chairman and Managing Director |
|
Address : |
19, The Green, Rajokari, New Delhi - 110038, India |
|
Date of Appointment : |
30.03.1994 |
|
DIN No.: |
00041156 |
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|
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|
Name : |
Ms. Vinita Singhania |
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Designation : |
Vice Chairman and Managing Director |
|
Address : |
101, Friends Colony East, New Delhi - 110065, India |
|
Date of Appointment : |
11.08.1989 |
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DIN No.: |
00042983 |
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|
|
Name : |
Mr. Sushil Kumar Wali |
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Designation : |
Whole-Time Director |
|
Address : |
F- 2578, Ansals Palam Vihar, Gurgaon - 122017, Haryana, India |
|
Date of Appointment : |
20.07.2002 |
|
DIN No.: |
00044890 |
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|
|
|
Name : |
Mr. Ravi Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
63, Friends Colony(East), New Delhi - 110065, India |
|
Date of Appointment : |
26.03.2012 |
|
DIN No.: |
00060972 |
KEY EXECUTIVES
|
Name : |
Mr. Brijesh Kumar Daga |
|
Designation : |
Vice Presiden and Company Secretary |
|
Address : |
H-97 1st Floor, I and II Duplex H-Block Market, Sarita Vihar, New Delhi-110076, India |
|
Date of Appointment : |
30.09.1999 |
|
PAN No.: |
AEAPD2060F |
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|
|
|
Name : |
Mr. Sudhir Anna Bidkar |
|
Designation : |
Chief Finance Officer (KMP) |
|
Address : |
C 612/A, Ganesh Nagar II, Shakarpur, New Delhi -110092, India |
|
Date of Appointment : |
22.05.2014 |
|
PAN No.: |
AADPB3858Q |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
54058759 |
45.94 |
|
|
(B) Public |
63611307 |
54.06 |
|
|
Grand Total |
117670066 |
100.00 |
"STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP"
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
865542 |
0.74 |
|
|
Shri Bharat Hari Singhania |
127970 |
0.11 |
|
|
Dr. Raghupati Singhania |
177948 |
0.15 |
|
|
Smt. Vinita Singhania |
88758 |
0.08 |
|
|
Shri Anshuman Singhania |
152816 |
0.13 |
|
|
Shri Shrivats Singhania |
77036 |
0.07 |
|
|
Smt. Sunanda Singhania |
60324 |
0.05 |
|
|
Shri Harsh Pati Singhania |
57060 |
0.05 |
|
|
Shri Vikram Pati Singhania |
56748 |
0.05 |
|
|
Smt. Swati Singhania |
21600 |
0.02 |
|
|
Smt. Sharda Singhania |
20724 |
0.02 |
|
|
Smt. Mamta Singhania |
19800 |
0.02 |
|
|
Shri Bharat Hari Singhania (HUF) |
4758 |
0.00 |
|
|
Any Other (specify) |
53193217 |
45.21 |
|
|
Bengal & Assam Company Limited |
28056895 |
23.84 |
|
|
Florence Investech Limited |
13645040 |
11.60 |
|
|
Bmf Investments Limited |
11011386 |
9.36 |
|
|
Jk Paper Limited |
191000 |
0.16 |
|
|
Juggilal Kamlapat Udyog Limited |
54920 |
0.05 |
|
|
Nav Bharat Vanijya Limited |
94278 |
0.08 |
|
|
Sago Trading Limited |
180 |
0.00 |
|
|
Hari Shankar Singhania Holdings Private Limited |
139518 |
0.12 |
|
|
Sub Total A1 |
54058759 |
45.94 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
54058759 |
45.94 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
18385117 |
15.62 |
|
|
Franklin Templeton Mutual Fund A/C Franklin India High Growth Companies Fund, Franklin India Smaller Companies Fund And Franklin Templeton Mutual Fund |
7846006 |
6.67 |
|
|
Icici Prudential Balanced Fund |
1615763 |
1.37 |
|
|
Foreign Portfolio Investors |
9517692 |
8.09 |
|
|
Government Pension Fund Global |
3094262 |
2.63 |
|
|
Ashoka Pte Limited |
1516750 |
1.29 |
|
|
Financial Institutions/ Banks |
33269 |
0.03 |
|
|
Insurance Companies |
4290207 |
3.65 |
|
|
Life Insurance Corporation Of India |
2893126 |
2.46 |
|
|
Sub Total B1 |
32226285 |
27.39 |
|
|
B2) Central Government/ State Government(S)/ President Of India |
0.00 |
||
|
Central Government/ State Government(S)/ President Of India |
2182 |
0.00 |
|
|
Sub Total B2 |
2182 |
0.00 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual Share Capital Upto INR 0.200 Million |
11515859 |
9.79 |
|
|
Individual Share Capital In Excess Of INR 0.200 Million |
7330370 |
6.23 |
|
|
Sachin Bansal |
2879533 |
2.45 |
|
|
Sachin Bansal |
1561904 |
1.33 |
|
|
Vivek Bansal |
1273104 |
1.08 |
|
|
Nbfcs Registered With RBI |
25242 |
0.02 |
|
|
Any Other (Specify) |
12511369 |
10.63 |
|
|
Hdfc Standard Life Insurance Company Limited |
4715854 |
4.01 |
|
|
Prazim Trading And Investment Co. Private Limited |
1202348 |
1.02 |
|
|
Trusts |
69279 |
0.06 |
|
|
Societies |
460 |
0.00 |
|
|
Non-Resident Indian (NRI) |
520514 |
0.44 |
|
|
Bodies Corporate |
11096018 |
9.43 |
|
|
IEPF |
825098 |
0.70 |
|
|
Sub Total B3 |
31382840 |
26.67 |
|
|
B=B1+B2+B3 |
63611307 |
54.06 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of cement and a wide range of cement products including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC) and Portland Slag Cement (PSC). [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
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Suppliers : |
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Customers : (From Indirect Sources) |
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No. of Employees
: (As on 31.03.2017) |
1456 (Approximately) |
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Bankers : (As on 31.03.2017) |
2nd Floor 34, JL Nehru Road, Kolkata-700071, West Bengal, India
148, Barakhamba Road, Statesman House, New Delhi-110001, India
D-63, Basant Lok, Vasant Vihar, New Delhi-110057, India
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Facilities : |
|
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Financial Institution : |
|
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Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
12, Bhagat Singh Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23710176 / 23710177/ 23364671 / 2414 |
|
Fax No.: |
91-11-23345168 / 23314309 |
|
E-Mail : |
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|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
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Subsidiary Companies (As on 31.03.2017): |
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Associates Company (As on 31.03.2017): |
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Holding Company (As on
31.03.2017): |
|
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Trusts under common
control (As on 31.03.2017): |
|
|
|
|
|
Enterprise which
holds more than 20% of Equity share : |
|
CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: INR 588.500 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
INR 05/- each |
INR 1250.000 Million |
|
5000000 |
Preference Shares |
INR 100/- each |
INR 500.000 Million |
|
|
Unclassified Shares |
|
INR 250.000 Million |
|
|
Total |
|
INR 2000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
117670066 |
Equity Shares |
INR 05/- each |
INR 588.400 Million |
|
|
Add : Forfeited Shares |
|
INR 0.100 Million |
|
|
Total |
|
INR 588.500
Million |
RECONCILIATION OF
NUMBER OF SHARE OUTSTANDING:
|
Opening Balance |
117670066 |
|
Shares Issued during the year |
-- |
|
Shares Outstanding at the end of the year |
117670066 |
LIST OF SHAREHOLDERS
HOLDING MORE THAN 5% OF THE EQUITY SHARE CAPITAL OF THE COMPANY:
|
Shareholder name |
Number |
|
Bengal & Assam Company Limited |
28056895 |
|
Florence Investech Limited |
13645040 |
|
JK Fenner ( India ) Limited |
-- |
|
HDFC Standard Life Insurance Company Limited |
-- |
|
BMF Investment Limited |
11011386 |
TERMS/ RIGHT ATTACHED
TO EQUITY SHAREHOLDERS:
- The Company has only one class of Equity Shares having a par value of INR 5 per share. Each holder of equity shares is entitled to one vote per share.
- In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
- The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.
The Company bought back and extinguished 7,000 and 4681858
equity Shares in 2011-12 and 2012-13 respectively
Nature of Reserves :-
Capital Redemption Reserve : Represents the statutory reserve created when capital is redeemed. Securities Premium Reserve : Represents the amount received in excess of Per value of securities.
Debenture Redemption
Reserve : Represents the Statutory Reserve of Non Convertibles issued by the
Company
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
588.500 |
588.500 |
588.500 |
|
(b) Reserves & Surplus |
13943.600 |
13228.400 |
12452.400 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
14532.100 |
13816.900 |
13040.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13984.200 |
15900.600 |
13930.600 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
162.600 |
|
(c) Other long term
liabilities |
3006.500 |
1439.000 |
1312.100 |
|
(d) long-term provisions |
108.000 |
107.700 |
93.100 |
|
Total Non-current
Liabilities (3) |
17098.700 |
17447.300 |
15498.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4129.600 |
3762.500 |
2977.600 |
|
(b) Trade
payables |
3186.200 |
2647.800 |
1986.900 |
|
(c) Other
current liabilities |
5839.000 |
8085.000 |
7495.100 |
|
(d) Short-term
provisions |
102.300 |
74.600 |
84.800 |
|
Total Current
Liabilities (4) |
13257.100 |
14569.900 |
12544.400 |
|
|
|
|
|
|
TOTAL |
44887.900 |
45834.100 |
41083.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
27912.000 |
28240.000 |
27278.800 |
|
(ii)
Intangible Assets |
23.200 |
23.400 |
16.400 |
|
(iii)
Capital work-in-progress |
2261.400 |
2050.800 |
2830.900 |
|
(iv)
Intangible assets under development |
19.400 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3538.900 |
3094.900 |
1822.000 |
|
(c) Deferred tax assets (net) |
199.800 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
619.400 |
542.600 |
394.100 |
|
(e) Other
Non-current assets |
262.900 |
593.700 |
291.400 |
|
Total Non-Current
Assets |
34837.000 |
34545.400 |
32633.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
4402.400 |
4997.000 |
2547.000 |
|
(b)
Inventories |
3170.300 |
2776.400 |
2405.500 |
|
(c) Trade
receivables |
969.400 |
895.000 |
964.900 |
|
(d) Cash
and cash equivalents |
115.900 |
89.800 |
117.600 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
1392.900 |
2530.500 |
2415.100 |
|
Total
Current Assets |
10050.900 |
11288.700 |
8450.100 |
|
|
|
|
|
|
TOTAL |
44887.900 |
45834.100 |
41083.700 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
34121.500 |
29104.100 |
26198.500 |
|
|
Other Income |
681.000 |
698.100 |
486.000 |
|
|
TOTAL
|
34802.500 |
29802.200 |
26684.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5841.500 |
5249.400 |
4977.200 |
|
|
Purchases of Stock-in-Trade |
2422.000 |
2242.600 |
2124.700 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(479.700) |
127.600 |
(175.600) |
|
|
Employees benefits expense |
2349.500 |
2083.900 |
1943.700 |
|
|
Power and Fuel |
7958.700 |
0.000 |
0.000 |
|
|
Transport, Clearing Forwarding
Charges |
8725.900 |
0.000 |
0.000 |
|
|
Other expenses |
3190.000 |
15746.500 |
14608.300 |
|
|
Exceptional item |
0.000 |
0.000 |
107.300 |
|
|
TOTAL |
30007.900 |
25450.000 |
23585.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
4794.600 |
4352.200 |
3098.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1974.800 |
1886.500 |
1966.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2819.800 |
2465.700 |
1132.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1792.700 |
1723.700 |
1628.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1027.100 |
742.000 |
(496.800) |
|
|
|
|
|
|
|
Less |
TAX |
187.500 |
(78.000) |
(431.200) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
839.600 |
820.000 |
(65.600) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
75.700 |
104.300 |
|
|
Components and Stores parts |
NA |
90.700 |
177.000 |
|
|
Capital Goods |
NA |
258.200 |
89.200 |
|
|
Power & Fuel |
NA |
1148.600 |
995.700 |
|
|
TOTAL
IMPORTS |
NA |
1573.200 |
1366.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
7.14 |
6.97 |
-0.56 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
2042.500 |
2238.300 |
|
Cash generated from operations |
NA |
3655.300 |
3022.500 |
|
Net cash flows from (used in) operating activity |
NA |
3629.300 |
2975.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
10.37 |
11.22 |
13.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
35.20 |
32.52 |
27.15 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
140.73 |
129.00 |
102.12 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.51 |
1.57 |
1.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.16 |
0.14 |
0.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.71 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.25 |
1.57 |
1.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.91 |
1.05 |
0.96 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.08 |
2.19 |
2.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.43 |
2.31 |
1.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.46 |
2.82 |
(0.25) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.87 |
1.79 |
(0.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.78 |
5.93 |
(0.50) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.76 |
0.77 |
0.67 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.52 |
0.58 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.32 |
0.30 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
30.78 |
36.88 |
32.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.76 |
0.77 |
0.67 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 05.00/- |
|
Market Value |
INR 387.55/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
588.500 |
588.500 |
588.500 |
|
Reserves & Surplus |
12452.400 |
13228.400 |
13943.600 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
13040.900 |
13816.900 |
14532.100 |
|
|
|
|
|
|
long-term borrowings |
13930.600 |
15900.600 |
13984.200 |
|
Short term borrowings |
2977.600 |
3762.500 |
4129.600 |
|
Total
borrowings |
16908.200 |
19663.100 |
18113.800 |
|
Debt/Equity
ratio |
1.297 |
1.423 |
1.246 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
26198.500 |
29104.100 |
34121.500 |
|
|
|
11.091 |
17.239 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
26198.500 |
29104.100 |
34121.500 |
|
Profit/ (Loss) |
(65.600) |
820.000 |
839.600 |
|
|
(0.25%) |
2.82% |
2.46% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
588.500 |
588.500 |
|
(b) Reserves & Surplus |
|
13846.700 |
13421.200 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
12.600 |
132.400 |
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
14447.800 |
14142.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
18471.500 |
21062.400 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
2998.100 |
1167.800 |
|
(d) long-term provisions |
|
115.500 |
111.900 |
|
Total
Non-current Liabilities (3) |
|
21585.100 |
22342.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4202.900 |
3762.500 |
|
(b) Trade payables |
|
3287.900 |
2775.500 |
|
(c) Other current liabilities |
|
7369.700 |
8807.000 |
|
(d) Short-term provisions |
|
117.400 |
85.300 |
|
Total
Current Liabilities (4) |
|
14977.900 |
15430.300 |
|
|
|
|
|
|
TOTAL |
|
51010.800 |
51914.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
35542.400 |
33751.800 |
|
(ii) Intangible Assets |
|
827.700 |
1894.300 |
|
(iii) Capital work-in-progress |
|
2263.200 |
3071.000 |
|
(iv) Intangible assets under
development |
|
19.400 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
739.700 |
239.800 |
|
(d) Long-term Loan and Advances |
|
572.400 |
573.200 |
|
(e) Other Non-current assets |
|
273.300 |
599.500 |
|
Total
Non-Current Assets |
|
40238.100 |
40129.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
4630.700 |
5224.200 |
|
(b) Inventories |
|
3556.100 |
3212.000 |
|
(c) Trade receivables |
|
1015.100 |
904.100 |
|
(d) Cash and cash equivalents |
|
124.500 |
102.000 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
1446.300 |
2342.600 |
|
Total
Current Assets |
|
10772.700 |
11784.900 |
|
|
|
|
|
|
TOTAL |
|
51010.800 |
51914.500 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
38597.400 |
32886.000 |
|
|
Other Income |
|
690.100 |
1250.900 |
|
|
TOTAL
|
|
39287.500 |
34136.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
6625.500 |
5853.000 |
|
|
Purchases of Stock-in-Trade |
|
2033.100 |
1478.200 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(418.900) |
137.600 |
|
|
Employees benefits expense |
|
2625.100 |
2120.700 |
|
|
Power and Fuel |
|
9173.400 |
0.000 |
|
|
Transport, Clearing Forwarding
Charges |
|
9502.300 |
0.000 |
|
|
Excise Duty |
|
1113.800 |
3670.400 |
|
|
Other expenses |
|
3625.400 |
15928.800 |
|
|
Exceptional item |
|
(27.000) |
(40.000) |
|
|
TOTAL |
|
34252.700 |
29148.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
5034.800 |
4988.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
2637.000 |
2443.500 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2397.800 |
2544.700 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
2072.900 |
1750.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
324.900 |
794.700 |
|
|
|
|
|
|
|
Less |
TAX |
|
(108.700) |
(77.900) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
433.600 |
872.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
1.90 |
7.29 |
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 |
Yes |
|
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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Bank |
NA |
50.000 |
|
Fixed Deposits |
NA |
113.600 |
|
SHORT TERM BORROWINGS |
|
|
|
Fixed Deposits |
NA |
26.800 |
|
Commercial Papers |
NA |
2449.700 |
|
Total |
NA |
2640.100 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G43995372 |
100090377 |
IDBI TRUSTEESHIP SERVICES LIMITED |
03/04/2017 |
05/05/2017 |
3000000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
2 |
G04975678 |
100030674 |
IDBI TRUSTEESHIP SERVICES LIMITED |
29/04/2016 |
- |
3500000000.0 |
J-1, VIRJANAND MARG, VIKAS PURI, NEW DELHI-110018, INDIA |
|
3 |
G32190308 |
100020624 |
STATE BANK OF INDIA |
29/03/2016 |
17/10/2016 |
1600000000.0 |
2ND FLOOR34, JL NEHRU ROAD, KOLKATA-700071, WEST BENGAL, INDIA |
|
4 |
G28443851 |
10559969 |
ALLAHABAD BANK |
30/03/2015 |
07/11/2016 |
1500000000.0 |
INDUSTRIAL FINANCE BRANCH, 17, PARLIAMENT STREETNEW DELHIDL110001IN |
|
5 |
C40214660 |
10532357 |
AXIS BANK LIMITED |
29/10/2014 |
23/12/2014 |
400000000.0 |
148, BARAKHAMBA ROAD, STATES MAN HOUSE, NEW DELHI-110001, INDIA |
|
6 |
C58452913 |
10520352 |
AXIS BANK LIMITED |
05/09/2014 |
15/06/2015 |
1000000000.0 |
148, BARAKHAMBA ROAD, STATES MAN HOUSE, NEW DELHI-110001, INDIA |
|
7 |
C32731317 |
10486066 |
THE JAMMU AND KASHMIR BANK LIMITED |
20/03/2014 |
15/10/2014 |
900000000.0 |
D-63, BASANT LOKVASANT VIHARNEW DELHIDL110057IN |
|
8 |
B86050762 |
10451773 |
THE JAMMU AND KASHMIR BANK LIMITED |
25/09/2013 |
- |
400000000.0 |
D-63, BASANT LOKVASANT VIHARNEW DELHIDL110057IN |
|
9 |
B61917795 |
10385525 |
IDBI TRUSTEESHIP SERVICES LIMITED |
16/10/2012 |
31/10/2012 |
497906800.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
10 |
C52429644 |
10337138 |
ALLAHABAD BANK |
28/12/2011 |
30/03/2015 |
8500000000.0 |
INDUSTRIAL FINANCE BRANCH,17, PARLIAMENT STREET, NEW DELHI---110001IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Service Tax |
NA |
171.700 |
|
Sales Tax and Interest |
NA |
1358.400 |
|
Income Tax |
NA |
46.500 |
|
Renewable Energy Obligation |
NA |
202.100 |
|
Excise Duty @ |
NA |
9.300 |
|
Other matters |
NA |
58.600 |
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant & Machinery
- Furniture & Fixtures
- Office Equipments
- Vehicles, Aircraft and Locomotives
- Railway Siding
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 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 67.95 |
|
UK Pound |
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·