MIRA
INFORM REPORT
|
Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
KALYAN JEWELLERS |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1993 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHNK01678F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAGFK5211K |
|
|
|
|
Legal Form : |
Sole Proprietory
Concern. |
|
|
|
|
Line of Business : |
Retailers of
jewellers Ornaments like Bangles, Necklace, Rings. (Made of Gold and Silver
Materials) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed concern in it’s field. Available information
indicates high financial responsibility of the concern. Trade relations are
fair. Payments are usually correct and as per commitments. The concern can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-487-2323733 / |
|
Fax No.: |
91-487-2323734 |
|
Area : |
5000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branches : |
Kandath Complex, Tel No:
91-491-2533744 Fax No.:
91-491-2533755 Area : 2500 sq.
ft. Location : Owned Tel No:
91-4933-224126 Fax No.:
91-4933-224127 5th
Cross, Tel No.:
91-422-2528883 / 2528884 |
SOLE PROPRIETOR
|
Name : |
Mr. T. S.
Kalayanaraman |
|
Designation : |
Sole Proprietor |
|
Address : |
Pushpagiri, Pungontham,
Thrissur |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
B. Com. |
|
Experience : |
20 Years |
KEY EXECUTIVES
|
Name : |
Mr. Mani |
|
Designation : |
Manager |
|
|
|
|
Name : |
Mr. Avnish |
|
Designation : |
Accountant |
|
Tel No.: |
91-487-2323833 |
BUSINESS DETAILS
|
Line of Business : |
Retailers of
jewellers Ornaments like Bangles, Necklace, Rings. (Made of Gold and Silver
Materials) |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Retailers |
|
|
|
|
No. of Employees : |
200 |
|
|
|
|
Bankers : |
Punjab National
Bank Thrissur Main
Branch |
|
|
|
|
Facilities : |
(Over Draft
Facilities is Enjoyed.) |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Balasubramaniam Chartered
Accountants |
|
Address : |
Thrissur – Kerala |
|
|
|
|
Associates/Subsidiaries : |
|
|
Name: |
Kalyan Textile |
|
Address: |
Thrissur – 680
022 |
|
Tel No.: |
91-487-2421558 |
|
Line of
Business: |
Retailers of
jewellers Ornaments like Bangles, Necklace, Rings. (Made of Gold |
CAPITAL STRUCTURE
|
Capital Investment : |
(Estimated) |
|
Owned : |
Rs. 2.500 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
35.000 |
30.000 |
35.000 |
|
|
|
|
|
|
Profit/Loss for the year |
14 % Total Turnover |
14 % Total Turnover |
15 % Total Turnover |
Expected Sales (2007-08) : Rs. 40.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade
Reference
Local Customers in
Thrissur Area
News
Clipping
Kalyan
Jewellers Plans Expansion
The Thrissur –
based Kalyan Jewellers, part of the Kalyan Group, has initiated steps for a
major expansion drive both in the country and outside in the next few years
with an investment of over Rs. 10000 Millions
The Jewellery group
has proposed to set up a chain of 40 Jewellery in South India and in the Gulf
apart form a shopping mall in
It will also have a
presence in
Kalyan Jewellers of
the Kalyan group based in Kerala, Famed for its jewellery and textile outlets,
makes entry in Tamilnadu markets.
A grand launch is
planned in presence of Malayalam megastar Mammootty and Tamil Star Vikram who
will join in inaugurating the seven-story state –of – the – art – showroom at
We visited the office of the company/concern where following observations were carried on:
K Name Board could be seen and the visibility of the Name Board is High.
K The concern’s Showroom is fully centralized air conditioned.
K Subject is located near to the paramakavu temple at Thrissur
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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.71 |
|
|
1 |
Rs. 81.24 |
|
Euro |
1 |
Rs. 54.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
56 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|