MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PANKAJ DIAMOND |
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Registered Office : |
915, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer, Exporter and Importer of Cut and Polished Diamonds |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments.
Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
915, Prasad Chambers, Opera House, Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-40505555 |
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Fax No.: |
91-22-40505510 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. Ft. [Owned] |
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Account Office : |
7th Floor, Jain Tower, Opera House, Mumbai – 400004,
Maharashtra, India |
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Area : |
600 sq. ft [Rented] |
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Factory : |
Located at : Surat |
PARTNERS
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Name : |
Mr. Naranbhai Khimjibhai Bhadiyadra |
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Designation : |
Partner |
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Date of Birth/Age : |
60 Years |
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Experience : |
35 Years |
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Name : |
Mr. Himmatbhai K. Bhadiyadra |
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Designation : |
Partner |
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Date of Birth/Age : |
50 Years |
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Experience : |
20 Years |
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Name : |
Mrs. Hansaben N. Bhadiyadra |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Experience : |
20 Years |
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Name : |
Mr. Rameshbhai N. Bhadiyadra |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Cut and Polished Diamonds |
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Exports : |
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Products : |
Cut and Polished Diamonds |
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Countries : |
UK, USA, Belgium, Japan, Thailand, Singapore, UAE, Switzerland,
Hongkong [100 % Export] |
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Imports : |
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Products : |
Rough Diamond |
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Countries : |
Belgium, Dubai and Hongkong |
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Terms : |
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Selling : |
Depend on customer |
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Purchasing : |
Credit [90-150 days] |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Around 2000 |
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Bankers : |
State Bank of India, Diamond Branch |
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Banking
Relations : |
-- |
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Marketing Associates : |
Hind Gems BVBA in Antwerp |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2500.000 |
2000.000 |
Expected Sales (2007-08) : Around Rs.3000.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
As Per Website
Profile
Concern is dedicated to excellence in diamond manufacture by following the
best practices of the trade and meeting the global standards in diamond trade
and providing complete customer satisfactory.
Concern was set up in 1990 by brothers Mr. Naran Bhadiyadra and Mr.
Himat Bhadiyadra. The two brothers already had decades of experience in the
diamond industry. Over the years, concern has grown into a reputed diamond
trading house with a global presence.
Concern was dedicated to providing products of unshakeable reliability
and spectacular brilliance to their customers at uniquely competitive prices.
They have made a trading of commitment to quality, taking initiative in
providing only the best products and perfecting an attitude of unparalleled
service.
This tradition has earned them a global reputation for providing the
finest diamonds across the most comprehensive range of products and services.
Their core strengths of superior quality and credibility are matched only by
their unrivalled specialized expertise in diamond manufacturing.
Concern has time and again proved its standing and reputation in the
industry. As important recognition came from The Gem and Jewellery Export
Promotion Council in 1999 when subject was awarded for being the sixth highest
non-sightholding exporter in India with sales of US $ 41 million.
The concern has performed consistently over the past 10 years in terms
of quality and service, employing the latest and fastest techniques for cutting
and polished rough.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.41 |
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UK Pound |
1 |
Rs.79.81 |
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Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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63 |
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%)
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. |
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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