MIRA
INFORM REPORT
|
Report Date : |
30.10.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HARI DARSHAN EXPORTS |
|
|
|
|
Registered Office : |
307, The Jewel (Roxy), M.P. Road, Opera House,
Mumbai-400004,Maharashtra |
|
|
|
|
Country: |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH07545G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AASDFH1706K |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Diamond Stones. |
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 2000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
307, The Jewel (Roxy), M.P. Road, Opera House, Mumbai-400004 |
|
Tel. No.: |
91-22-2368 4008/ 91-22-2366 9842 |
|
Fax No.: |
91-22-2368 4009 |
|
E-Mail : |
|
|
Area : |
Approx 500 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Plot No 51, B/H Hardik Complex, Nilambag, Bhavnagar-364003 |
|
Tel. No.: |
91-278-2522187 |
|
Fax No.: |
91-278-2522188 |
|
E-Mail : |
|
|
Area : |
10,200 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Botad, Gujarat (16 Factories) |
|
Area : |
16,000 Sq. ft. |
|
Location : |
Owned |
|
|
|
PARTNERS
|
Name : |
Mr. Bhvaeshbhai O. Lakhani |
|
Designation : |
Partner |
|
Date of Birth/Age : |
29 years |
|
Qualification : |
Post Graduate |
|
|
|
|
Name : |
Master Darshan O Kadasiya |
|
Designation : |
Partner |
|
Date of Birth/Age : |
24 years |
|
|
|
|
Name : |
Mr. Nilesh L Lakhani |
|
Designation : |
Partner |
|
Date of Birth/Age : |
27 years |
|
Qualification : |
Post Graduation |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Diamond Stones. |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material (85%) |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30, 60 days), T/T |
|
|
|
|
Purchasing : |
L/C, Credit (30, 60 days), T/T |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
Approx 5000 and more (In Factory 12) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
Credit/Cash Rupees from ABN Amro. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Babulal Deora and Company Chartered Accountants |
|
Address : |
Mumbai and Opera House. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 50.000 Millions |
|
Borrowed : |
- |
|
Total : |
Rs. 50.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
44.000 |
36.000 |
|
|
|
|
Expected Sales (2007-08) : Rs.60.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Web Details:
Profile:
At Hari Darshan procurement of rough diamonds is top priority. A team of
four makes frequent visits to countries like Belgium, UAE, Hong Kong, Russia,
South Africa, and consistent shipments from suppliers of Abber Overses, Rio,
and from India Hindustan Diamonds etc. The subject believes it is paramount to
purchase every parcel and stone with the necessary Kimberley Process
Certification. They also ensure that all purchases are done ethically with
strict adherence ato United Nations resolutions 55/56 regarding conflict
diamonds.
During the nineties two god friends as young as eighteen in Bhavnagar, a
small town in Gujarat their way to work on a bicycle to a diamod polishing
factory everyday. Their dream was to craft themselves from this industry,
workinh ling and hard. One of day Dinesh Gandhi, the energetical asked his
friend Bhavesh Lakhani if they should start living their dream.
To chisel a life that is honest, clean and mostly dedicated to the
wellbeing of others around. A phrase was instilled in these friends by their
spiritual leader HDH Paramukh Swami Maharaj.
They commenced their journey towards fulfilling this dream, learning
fast and performing seam years. They were approached by a trader who believed
them to be excellent partners for manufacure they did. The two wanted to go
further and it was then Dinesh and Bhavesh decided to settle manufacture house.
Specialisation
The concern polishing, grading
and preparation department put in a lot of effort before the stone comes on the
sales floor, to ensure the client gets.
- Consistent
supplies
- Timely
delivery
- Precise
assortments.
- Competitive
price.
The concern focuses on Round Diamonds,
mainly-.5 sieve to 000 sieve in white, color and Brown. Their mainly major
production VVS to SI 2 with good make.
Trade References
- Rosy Blue
(India) Private Limited
- Asian Star
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.51 |
|
UK Pound |
1 |
Rs.81.16 |
|
Euro |
1 |
Rs.56.76 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|