MIRA INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GOLD STAR CENTOQUATTRO JEWELLERY PRIVATE LIMITED |
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Registered
Office : |
G-40, Gems and Jewellery Complex III, Seepz Sez, Andheri(E), Mumbai – 400096,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.04.2008 |
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Com. Reg. No.: |
181759 |
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CIN No.: [Company Identification
No.] |
U27205MH2008PTC181759 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG13276E |
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PAN No.: [Permanent Account No.] |
AADCG1446Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Sale of Pain / Gold / Silver / Platinum Jewellery
with diamond or Precious or Semi Precious Stones Studded. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is three years old company having moderate track. The company
achieve sizable turnover in its very first year of operation. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
G-40, Gems and Jewellery Complex III, Seepz Sez, Andheri(E), Mumbai –
400096, Maharashtra, India |
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E-Mail : |
* Contact Numbers are not available
DIRECTORS
AS ON 13.09.2010
|
Name : |
Mr. Vikram Mohandra Advani |
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Designation : |
Director |
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Address : |
1/44, Nanik Nivas, 91, |
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Date of Birth/Age : |
23.05.1967 |
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Date of Appointment : |
06.07.2009 |
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Name : |
Mr. Ashish Vinod Shah |
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Designation : |
Director |
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Address : |
19/2, Suvarna Nagar, Soc Soni House, NSRD No.2, JVPD Scheme, Vile
Parle West, india |
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Date of Birth/Age : |
04.05.1970 |
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Date of Appointment : |
06.07.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vikram Mohandra Advani |
|
495000 |
|
Ashish Vinod Shah |
|
5000 |
|
Gypsophilis Limited, Cyprus |
|
490000 |
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Total |
|
990000 |
AS ON 13.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
49.50 |
|
Other top fifty shareholders |
50.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Sale of Pain / Gold / Silver / Platinum Jewellery
with diamond or Precious or Semi Precious Stones Studded. |
GENERAL INFORMATION
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Bankers : |
Bank Of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B J Shah and Associates Chartered Accountant |
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Address : |
7, Someshwar, |
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Associates: |
Goldstar Jewellery Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500
Millions |
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|
Share Application Money |
|
Rs.2.365
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
9.865 |
0.199 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
1.822 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
11.687 |
0.199 |
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LOAN FUNDS |
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1] Secured Loans |
|
39.531 |
0.000 |
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2] Unsecured Loans |
|
127.587 |
6.718 |
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TOTAL BORROWING |
|
167.118 |
6.718 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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178.805 |
6.917 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
37.599 |
7.690 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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92.942 |
0.000 |
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Sundry Debtors |
|
12.677 |
0.000 |
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Cash & Bank Balances |
|
9.803 |
(1.032) |
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Other Current Assets |
|
2.011 |
0.909 |
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Loans & Advances |
|
0.773 |
0.000 |
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Total
Current Assets |
|
118.206
|
(0.123) |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
15.432
|
0.000 |
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Other Current Liabilities |
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73.329
|
0.901 |
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Provisions |
|
0.000
|
0.000 |
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Total
Current Liabilities |
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88.761
|
0.901 |
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Net Current Assets |
|
29.445
|
(1.024) |
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MISCELLANEOUS EXPENSES |
|
0.7621 |
0.251 |
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TOTAL |
|
178.805 |
6.917 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2010 |
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SALES |
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Export |
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246.808 |
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Deemed Exports |
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|
4.835 |
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Other Income |
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|
0.016 |
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TOTAL (A) |
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251.659 |
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Less |
EXPENSES |
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TOTAL |
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249.837 |
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PROFIT BEFORE
TAX |
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|
1.822 |
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Less |
TAX |
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|
0.000 |
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PROFIT AFTER TAX |
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|
1.822 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
0.72 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.74 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.17 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.16 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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|
21.89 |
38.29 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.33 |
(0.14) |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from Plot
No.8, Western Industrial Estate, Cepz, Opp Seepz Main Gate, Andheri East,
FORM 8:
|
Corporate
identity number of the company |
U27205MH2008PTC181759 |
|
Name of the
company |
Gold Star
Centoquattro Jewellery Private Limited |
|
Address of the
registered office or of the principal place of business in |
G-40, Gems and
Jewellery Complex - III Seepz, Andheri (E),
Mumbai – 400096, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
BANK OF |
|
Nature of
instrument creating charge |
1.Agreement Of Hypothecation
Of Plant And Machinery Stocks And Book Debts |
|
Date of
instrument Creating the charge |
22/03/2010 |
|
Amount secured by
the charge |
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Stipulated By
Bank From Time To Time Terms of
Repayment As Stipulated By
Bank From Time To Time Margin As Stipulated By
Bank From Time To Time Extent and
Operation of the charge First
Charge(Present And Future)= Total Limit Rs.8.00 Millions (Pre Shipment
Credit Limits(A) Epc/ Pcfc=Rs.80.000 Millions (B) Bullion Loan =Rs.80.000
Millions (Max (A)+(B) Rs.80.000 Millions) (Post Shipment
Credit Limits :-(C) Odfobc/ Fbp/ Fbn/ Fbd=Rs.8.00 Millions) Max(A)+(B)+(C)=Rs.80.000
Millions Others As Stipulated By
Bank From Time To Time And As Per Agreement Attached And As Per Sanction
Letter Of The Bank |
|
Short particulars
of the property charged |
as stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank electroplaing machines etc,(installed or to be installed
and purchased or to be purchased),furniture and fixturers, computers,
printers, etc hypothecation of all stock raw materials/goods/inventories etc.
consisting of gold, silver, diamonds, precious and semi precious stones,
alloys, mounting and samples, findings, rubber moulds, plaster of paris etc
hyp. of all book debts and receivables
including export documentary bills |
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 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.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.