MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MUKSHA DIAMOND DISTRIBUTORS LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2001 |
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Date of Incorporation : |
17.08.1998 |
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Com. Reg. No.: |
21230 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Dealers in all
types of gemstones. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NAME OF COMPANY
MUKSHA DIAMOND DISTRIBUTORS LTD
ADDRESS
TEL : (230) 637-6181
FAX : (230) 433-0879
EMAIL : mukundr@intnet.mu
INCORPORATED
17.08.1998
STATUS
Private
CO. NO.
21230
DIRECTORS
Mr. Makoond Kishor Daby
Mrs. Roma Daby
Miss Sushila
Seetaram
SHAREHOLDERS SHARES
Mr. Makoond Kishor
Daby 500
Mr. Pradeep Mishra
Daby
50
ISSUED CAPITAL
RS55,000.-
ACTIVITIES
Dealers in all
types of gemstones.
SIZE
Company operates at
Freeport Warehouse,
IMPORTS
Subject sources
mainly from
EMPLOYMENT
Less than 5
FINANCE (2001)
Turnover:
Profit:
EPS:
No accounts have
been filed with the ROC for 2002 onwards.
OBSERVATION
The company operates
in the Freeport of Mauritius, specializing in the import/export of all types of
gemstones. Subject exports mainly to Europe and
During the period
ending 30th June 2001, subject recorded a turnover figure of MUR
11.5m and a profit before tax of
REMARKS
In 2006, the ROC
issued a notice for the possible striking off of the company’s name from the
register. Subsequently, in Sept 2006, the company’s accountants objected to the
striking off and informed the ROC that accounts will be filed in due course.
CREDIT OPINION
We have not been
able to gather further information on the company’s actual financial situation.
It appears that concern is still trading. However, we would recommend security
measures.
BANKERS
State Bank of
Mauritius Ltd
INCOME SATEMENT YEAR ENED 30TH
JUNE 2001
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RS |
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TURNOVER |
11,500,142 |
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Cost of sales |
9,261,900 |
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2,238,242 |
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Administrative and selling expenses |
197,252 |
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Depreciation and amortisation |
2,308 |
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199,560 |
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Profit from operations |
2,038,682 |
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Other income |
6,420 |
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Net finance costs |
(160,028) |
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Profit before taxation |
1,885,074 |
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Taxation |
- |
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Profit after taxation |
1,885,074 |
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Dividends |
- |
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Net profit for the year |
1,885,074 |
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=============== |
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E.P.S |
RS 3 427 |
BALANCE SHEET AS AT 30TH JUNE
2001
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RS |
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EMPLOYMENT OF FUNDS |
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Non Current Assets |
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Tangible fixed assets |
17,627 |
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CURRENT ASSETS |
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Stocks |
4,861,084 |
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Trade and other receivables |
587,000 |
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Cash at bank and in hand |
826,751 |
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6,294,835 |
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CURRENT LIABILITIES |
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Bank overdraft |
2,474,954 |
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Trade and other payables |
329,910 |
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2,804,864 |
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Net Current Assets |
3,469,971 |
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Total Assets less Current liabilities |
3,487,598 |
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FINANCED BY |
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Capital and Reserves |
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Share capital |
55,000 |
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Reserves |
2,887,898 |
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Shareholder's interst |
2,942,898 |
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Shareholder's loan |
544,700 |
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3,487,598 |
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=============== |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)