MIRA
INFORM REPORT
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Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
KEWALRAM GHANSHAMDAS POPLEYS AND SONS |
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Registered Office : |
Ground Floor, Pancharatna, Opera House, Mumbai-400 004, Maharashtra |
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Country : |
India |
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Year of Establishment : |
1927 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK14056A |
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PAN No.: [Permanent
Account No.] |
AAAFK5220E |
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Legal Form : |
Not Available |
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Line of Business : |
Manufacturer and Distributor of Jewellery, Watches. |
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 : |
Regular |
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Comments : |
Management is buying time to provide require details as this is the
most peak time and entire staff is busy in attending customers and prospects. Mr.S.B. Sing, the concern may respond later. Subject is a well
established and reputed jewellers having nice and large showrooms. The group
has retail showrooms in U.A.E Available information indicates high financial responsibility of the
concern.Trade relations are fair. Market reputation is favorable. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Ground Floor, Pancharatna, Opera House, Mumbai-400 004, Maharashtra,
India. |
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Tel. No.: |
91-22-66348856 |
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Fax No.: |
91-22-23637034 |
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E-Mail : |
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Location : |
Owned |
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Showrooms: |
List Enclosed |
SOLE
PROPRIETOR/PARTNERS/DIRECTORS
POPLEY FAMILY
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of Jewellery, Watches. |
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Exports : |
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Products : |
v Jewellery |
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Countries : |
v UAE v Dubai |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
v End Users |
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No. of Employees : |
100 |
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Bankers : |
Not Available |
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Sister Concerns: : |
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Name : |
KEWALRAM GHANSHAMDAS POPLY JEWELLERS PRIVATE LIMITED |
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Registered Office : |
Shop No.160, Mumbadevi Temple Road, Mumbai-400072, Maharashtra, India. |
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Date of Incorporation: |
06.06.1989 |
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Registration Number: |
52055 |
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CIN No.: |
U36911MH1989PTC052055 |
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Authorised Capital: |
Rs.0.500 Million |
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Paid up Capital: |
Rs.0.350 Million |
CAPITAL STRUCTURE
NA
FINANCIAL DATA
[all figures are in Rupees Millions]
NA
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
- 1927
Popleys came into existence in Karachi, India (now in Pakistan) under the the founder Kewalram Ghanshamdas Popley. - 1947
The Popley family was forced to shift to Bombay (now Mumbai) India post the Indian Independence and had to start all over again. - 1978
The Popley Family was now headed by Laxman Kewalram Popley spear heading the group with its POPLEY brand identity with the first retail store in the Diamond Bourse of India in Panchratna, Mumbai. - 1991
The Group was now gearing to start branching into retail stores with its first in the suburb of Bandra, Mumbai. Importantly this was one of the first stores in India to be awarded the Branch License in the economic reforms happening in the Jewellery sector in India. - 1993
The overseas expansion into the City of Gold – Dubai, UAE. The first international venture of the group which later grew into the Global Hub for the companies entire business activities
COMPANY OVERVIEW
Founded
in Karachi (now in Pakistan) in 1927 by Kewalram Ghanshamdas Popley, the Popley
Group has been the Ambassador of luxury lifestyle in India and the Middle East for
over 80 years. Maintaining its heritage of a family owned operation, the Group
has none the less evolved in to one of the leading forces in the luxury
business. Today, with a portfolio of several luxury brands, a presence across
nations, the Popley Group represents some of the finest international brands
and Jewellery in the region.
The
Popley Group specializes in the retail, distribution and marketing of Fine
Jewellery and Luxury Brands within the sectors of Watches, Accessories, Luxury
Communications, Writing Instruments and Gifts. Trusted relationships with
prestigious houses such as Swatch Group, LVMH, De Beers and Platinum Guild to
name only a few, illustrate the portfolio brands represented by the Group.
Grounded
by a keen perception of the markets and consumers, brand building is at the
pulse of every activity. From a stronghold in local and regional distribution
to the creation of luxurious retail outlets, the Popley Group develops and
implements appropriate strategies that ensure each of its brands flourish
within the local and regional context.
With a
growing workforce, the Group's success is attributed to its most valued asset
of highly skilled and dedicated teams. Professionalism and passion are what
fuel the Popley Group's competitive edge in today's market. An appreciation of
quality, excellence and luxury are the cornerstones of the Popley Group
AWARDS
- The founder
of the group Late Shri Kewalram Ghanshamdas
Popley had been accredited by then Prime Minister of India Late Shri Jawaharlal
Nehru for his struggle and support in the Indian Independence. The DNA of
the family still remains as encouraging as before.
- Popleys have
been synonymous with quality services. Popleys have also been accredited by
the BAREEQ award by the Dubai Municipality.
- Awarded by
the De Beers Marketing Group for Quality Customer Service and
Merchandising for 4 consecutive years through a series of mystery shopping
and various
LOCATIONS:
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India Admin
Office and Showroom 125, Turner Road, Bandra (west), Mumbai -400050,P.O.Box 9873. |
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Tel. No.: |
91-22-66710000 |
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Fax No.: |
91-22-26438328 |
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E-Mail : |
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Popley La
Classique Junction Of Turner and Waterfield Roads, Bandra (West), Mumbai-400050. |
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Fax No.: |
91-22-26438328 |
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F 31, Grand Hyatt Plaza, Grnd Hyatt, Santacruz (esat), Mumbai-400055. |
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Tel No.: |
91-23-30602000 |
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grandhyatt@popleys.com |
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Omega Boutique F 3, Grand Hyatt Plaza, Grnd Hyatt, Santacruz (esat), Mumbai-400055 |
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91-22-30602002 |
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grandhyatt@popleys.com |
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Tag Heur
Boutique F 2, Grand Hyatt Plaza, Grnd Hyatt, Santacruz (esat), Mumbai-400055 |
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91-22-3062001 |
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grandhyatt@popleys.com |
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Diatime-Certified
Jewellery and Watch Stores Opp. American Consulate, Bhulabhai Desai Road, Breach Candy,
Mumbai-400026 |
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Tel No.: |
91-22-23618616 |
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@ Shoppers Stop, Inorbit Mall, Malad (West), Mumbai-400068 |
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@ Shoppers Stop, S.V. Road, Andheri (west), Mumbai-400064 |
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@ Shoppers Stop, Linking Road, Bandra (west), Mumbai-400050 |
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@ Shoppers Stop, Juhu, Mumbai-400049. |
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Bangalore (
India) |
Diatime-Certified
Jewellery and Watch Stores @ Shoppers Stop, Garuda Mall, Bangalore. |
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@ Shoppers Stop, Commerce @ Mantri, Bannerghatta Road, Bangalore. |
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Delhi (India) |
Diatime-Certified
Jewellery and Watch Stores @ Shoppers Stop,Ansal Plaza, Delhi |
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@ Shoppers Stop,Rajouri, Delhi |
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@ Shoppers Stop,City Walk, Saket, Delhi |
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@ Arcelia (Shoppers Stop), Kalyani Nagar, Delhi |
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Dubai (UAE) |
UAE Corporate/ Admin Office and Showroom Popley Kewalram Jewellers L.L.C 3,4,5 and 6 Gold Corner Building, Gold Souk, Deira, Dubai U.A.E.
P.O.Box.21468. |
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Tel No.: |
971-4-2259270 |
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Fax No.: |
9714-2259904 |
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Email: |
popley@emirates.net.ae |
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Popley Crown Level 1, Gold Corner Building, Gold Souk, Deira, Dubai U.A.E. |
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Tel No.: |
971-4-324552 |
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Fax No.: |
9714-3242377 |
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Popley La
Classique 128 and 129, Level 1, Sahire Court, Wafi City, Dubai U.A.E |
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Tel No.: |
971-4-324552 |
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Fax No.: |
9714-3242377 |
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F 49, Level 1, A1 Ghurair City, Dubai U.A.E |
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Tel No.: |
971-4-2230558 |
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Fax No.: |
9714-2230898 |
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63 AND 64, Ground Level, Century Mall, Dubai U.A.E |
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Tel No.: |
971-4-2969235 |
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Fax No.: |
9714-2969234 |
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Level 1, Reef Mall, Dubai U.A.E |
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Mall of the Emirates Dubai U.A.E |
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Gold and Diamond Park Dubai U.A.E |
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Old Island Mall Dubai U.A.E |
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Popley 22 Bur Dubai U.A.E |
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 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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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55 |
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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