MIRA
INFORM REPORT
|
Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANTANA IMPEX |
|
|
|
|
Registered
Office : |
Gem and Jewellery Park SEZ, Plot No.C-11, GIDC, ONGC Road,
Ichchhapore, Surat – 395002, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
07.03.2011 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
New Concern |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABWFS8118C |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Studded Jewellery and Cut and
Polished Diamonds. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new partnership concern and yet to complete its one full year
of operations. Trade relations are reported as fair. Business is active. The
valuation report provided seems to be unsatisfactory. Payment terms are
unknown. It would be advisable to take adequate securities while dealing with
the subject. |
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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Krishnaraj U. |
|
Designation : |
Branch Manager |
|
Contact No.: |
91-22-22693453 |
|
Date : |
06.08.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Gem and Jewellery Park SEZ, Plot No.C-11, GIDC, ONGC Road,
Ichchhapore, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2535721 |
|
Fax No.: |
91-261-2535725 |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Keval K. Virani |
|
Designation : |
Partner |
|
Date of Birth/Age : |
28 year |
|
Qualification : |
Master on Engg. (UK) |
|
Experience : |
5 years |
|
|
|
|
Name : |
Mr. Nirav A. Virani |
|
Designation : |
Partner |
|
Date of Birth/Age : |
26 years |
|
Qualification : |
BBA |
|
Experience : |
5 years |
KEY EXECUTIVES
|
Name : |
Mr. Krishna Raj |
|
Designation : |
Branch Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Studded Jewellery and Cut and
Polished Diamonds. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Polished Diamonds |
|
Countries : |
· China · Hong Kong · UAE · USA · Japan · Australia · European Countries |
|
|
|
|
Imports : |
|
|
Products : |
· Rough Diamonds · Polished Diamonds |
|
Countries : |
· Africa |
PRODUCTION STATUS (AS ON 25.03.2011)
|
Particulars |
Unit |
Annual
Capacity |
|
Jewellery |
Sets/ Pieces |
5,000 |
|
Cut and Polished Diamonds |
Carats |
41,000 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· State Bank of India, Belgium · State Bank of India, India |
|
|
|
|
Facilities : |
Rs.122.900 Millions from State Bank of India, Belgium Rs.700.000 Millions from State Bank of India, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
· Karp Impex HK Limited Address: Hong Kong Line of Business: Diamonds · Karp Manufacturers Company Address: Mumbai Line of Business: Diamonds · Karp Impex N.V. Address: Belgium Line of Business: Diamonds · Karp Diamonds Private Limited Address: Mumbai Line of Business: Diamonds |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
Note: Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
STATEMENT SHOWING COST OF PROJECTS AND MEANS OF FINANCE
COST OF PROJECT
|
Particulars
|
VALUE (Rs. In Millions) |
|
|
|
|
|
|
Land |
12.312 |
12.312 |
|
|
|
|
|
Building |
50.213 |
50.213 |
|
|
|
|
|
Machinery and Equipments |
|
|
|
-
Imported |
27.000 |
-- |
|
-
Indigenous |
21.000 |
48.000 |
|
|
|
|
|
Total
Cost of Projects (A) |
110.525 |
110.525 |
MEANS OF FINANCE
|
Particulars
|
VALUE (Rs. In Millions) |
|
|
|
|
|
|
Own Sources (from Partners Capital) |
110.525 |
110.525 |
|
|
|
|
|
Total
Means of Finance (B) |
110.525 |
110.525 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
I |
II |
III |
IV |
V |
|
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
|
|
|
|
|
|
|
(PROJECTED) |
||||
|
|
|
|
|
|
|
|
1.
SOURCES OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Partners Capital |
150.000 |
419.804 |
569.460 |
709.662 |
880.415 |
|
Profit and Loss accounts |
269.804 |
149.656 |
140.202 |
170.753 |
260.666 |
|
|
|
|
|
|
|
|
Total
Net Worth |
419.804 |
569.460 |
709.662 |
880.415 |
1141.081 |
|
|
|
|
|
|
|
|
Working Capital Facilities from Bank |
750.000 |
860.000 |
980.000 |
1060.000 |
1060.000 |
|
Term Loan for Fixed Assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Total
|
1169.804 |
1429.460 |
1689.662 |
1940.415 |
2201.081 |
|
|
|
|
|
|
|
|
2.
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Assets Net Block |
98.304 |
88.785 |
80.481 |
73.231 |
66.897 |
|
|
|
|
|
|
|
|
Investments |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Current
Assets: |
|
|
|
|
|
|
Sundry Debtors |
500.000 |
625.000 |
750.000 |
875.000 |
1000.000 |
|
Inventory |
597.500 |
755.000 |
905.000 |
1055.000 |
1205.000 |
|
Cash and Bank Balance |
36.500 |
38.675 |
47.881 |
46.684 |
54.184 |
|
Loans and Advance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total
Current Assets |
1134.000 |
1418.675 |
1702.881 |
1976.684 |
2259.184 |
|
|
|
|
|
|
|
|
BF/
TCA |
66.14 |
60.62 |
57.55 |
53.63 |
46.92 |
|
|
|
|
|
|
|
|
Less:
Current Liabilities |
|
|
|
|
|
|
Sundry Creditors and Others Liabilities |
62.500 |
78.000 |
93.700 |
109.500 |
125.000 |
|
Term Loan Repayment |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Total
Current Liabilities |
62.500 |
78.000 |
93.700 |
109.500 |
125.000 |
|
|
|
|
|
|
|
|
Net
Current Assets |
1071.500 |
1340.675 |
1609.181 |
1867.184 |
2134.184 |
|
|
|
|
|
|
|
|
Total
|
1169.804 |
1429.460 |
1689.662 |
1940.415 |
2201.081 |
|
|
|
|
|
|
|
|
Current
Ratio |
1.40 |
1.51 |
1.59 |
1.69 |
1.91 |
|
|
|
|
|
|
|
|
Debt
Equity Ratio |
1.94 |
1.65 |
1.51 |
1.33 |
1.04 |
------------------------------------------------------------------------------------------------------------------------------
DETAILS OF PARTNER’S CAPITAL ACCOUNTS
(RS.
IN MILLIONS)
|
Particulars
|
I |
II |
III |
IV |
V |
|
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
|
|
|
|
|
|
|
(PROJECTED) |
||||
|
|
|
|
|
|
|
|
Opening Balance |
-- |
419.804 |
569.460 |
709.662 |
880.415 |
|
Add: Addition |
150.000 |
-- |
-- |
-- |
-- |
|
Share Profit/ Loss |
295.079 |
378.281 |
463.402 |
552.453 |
646.566 |
|
|
445.079 |
798.085 |
1032.862 |
1262.115 |
1526.981 |
|
|
|
|
|
|
|
|
Less: Withdrawals |
25.275 |
228.625 |
323.200 |
381.700 |
385.900 |
|
|
|
|
|
|
|
|
Closing
Balance |
419.804 |
569.460 |
709.662 |
880.415 |
1141.081 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFIT AND LOSS ACCOUNT
(RS.
IN MILLIONS)
|
Particulars
|
I |
II |
III |
IV |
V |
|
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
|
|
|
|
|
|
|
(PROJECTED) |
||||
|
1. SOURCES OF INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sale of Cut and Polished
Diamonds |
2000.000 |
2500.000 |
3000.000 |
3500.000 |
4000.000 |
|
Less: Manufacturing and
Materials Cost |
1600.000 |
1990.000 |
2390.000 |
2790.000 |
3190.000 |
|
|
|
|
|
|
|
|
GROSS PROFIT |
400.000 |
510.000 |
610.000 |
710.000 |
810.000 |
|
|
|
|
|
|
|
|
OTHER INCOME : |
|
|
|
|
|
|
Miscellaneous Income |
0.800 |
1.600 |
1.700 |
1.700 |
1.900 |
|
|
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
21.000 |
26.000 |
30.694 |
36.197 |
41.201 |
|
Marketing Expenses |
12.500 |
26.500 |
28.000 |
29.500 |
31.500 |
|
Finance Charge |
60.000 |
70.000 |
80.000 |
85.000 |
85.000 |
|
Depreciation |
12.221 |
10.819 |
9.604 |
8.550 |
7.633 |
|
|
|
|
|
|
|
|
Total Expenses |
105.721 |
133.319 |
148.298 |
159.247 |
165.334 |
|
|
|
|
|
|
|
|
Profit Before Tax |
295.079 |
378.281 |
463.402 |
552.453 |
646.566 |
|
|
|
|
|
|
|
|
Partner Withdrawals |
25.275 |
228.625 |
323.200 |
381.700 |
385.900 |
|
|
|
|
|
|
|
|
Retain Profit |
269.804 |
149.656 |
140.202 |
170.753 |
260.666 |
|
|
|
|
|
|
|
|
Percentage |
14.75 |
15.13 |
15.45 |
15.78 |
16.16 |
------------------------------------------------------------------------------------------------------------------------------
NET FOREIGN EXCHANGE EARNING
(RS.
IN MILLIONS)
|
Particulars
|
I |
II |
III |
IV |
V |
Total |
$ in Millions |
|
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Exports |
2000.000 |
2500.000 |
3000.000 |
3500.000 |
4000.000 |
15000.000 |
-- |
|
|
|
|
|
|
|
|
|
|
Less: Freight and Insurance @
0.05% |
1.000 |
1.250 |
1.500 |
1.750 |
2.000 |
7.500 |
-- |
|
|
|
|
|
|
|
|
|
|
FOB Value of Export |
1999.000 |
2498.750 |
2998.500 |
3498.250 |
3998.000 |
14992.500 |
325.920 |
|
|
|
|
|
|
|
|
|
|
Import of Raw Materials and
Components |
1125.000 |
1406.250 |
1687.500 |
1968.750 |
2250.000 |
8437.500 |
183.420 |
|
|
|
|
|
|
|
|
|
|
Import of Spares and
Consumable |
27.000 |
-- |
-- |
-- |
-- |
27.000 |
0.590 |
|
|
|
|
|
|
|
|
|
|
Import of Machinery |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
Foreign Travel |
0.100 |
0.100 |
0.100 |
0.100 |
0.100 |
0.500 |
0.010 |
|
|
|
|
|
|
|
|
|
|
Total |
1152.100 |
1406.350 |
1687.600 |
1968.850 |
2250.100 |
8465.000 |
184.020 |
|
|
|
|
|
|
|
|
|
|
Net Foreign exchange Earning in five years |
846.900 |
1092.400 |
1310.900 |
1529.400 |
1747.900 |
6527.500 |
141.900 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED FUND FLOE STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
I |
II |
III |
IV |
V |
|
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(PROJECTED) |
||||
|
SOURCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit After Tax |
295.079 |
378.281 |
463.402 |
552.453 |
646.566 |
|
|
|
|
|
|
|
|
Depreciation |
12.221 |
10.819 |
9.604 |
8.550 |
7.634 |
|
|
|
|
|
|
|
|
Increase in Capital |
150.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Increase in Term Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Decrease in |
|
|
|
|
|
|
-
Fixed Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL SOURCES |
457.300 |
389.100 |
473.006 |
561.003 |
645.200 |
|
|
|
|
|
|
|
|
USES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Decrease in Term Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Increase in |
|
|
|
|
|
|
-
Fixed Assets |
110.525 |
1.300 |
1.300 |
1.300 |
1.3000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Withdrawals |
25.275 |
228.625 |
323.200 |
381.700 |
385.900 |
|
|
|
|
|
|
|
|
Other |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL USES |
135.800 |
229.925 |
324.500 |
383.000 |
387.200 |
|
|
|
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
321.500 |
159.175 |
148.506 |
178.003 |
267.000 |
|
|
|
|
|
|
|
|
Increase/ Decrease in current Assets |
1134.000 |
284.675 |
284.206 |
273.803 |
282.500 |
|
|
|
|
|
|
|
|
Increase/ decrease in current Liabilities other Than Bank Borrowing |
62.500 |
15.500 |
15.700 |
15.800 |
15.500 |
|
|
|
|
|
|
|
|
Increase/ decrease Working Capital Gap |
1071.500 |
269.175 |
268.506 |
258.003 |
267.000 |
|
|
|
|
|
|
|
|
Net surplus (+)/ Deficit (-) |
(750.000) |
(110.000) |
(120.000) |
(80.000) |
0.000 |
|
|
|
|
|
|
|
|
Increase/ (Decrease) in Bank Borrowings |
750.000 |
110.000 |
120.000 |
80.000 |
0.000 |
|
|
|
|
|
|
|
|
Break-Up of (4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase/ Decrease in Raw Material |
597.500 |
157.500 |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
Increase/ Decrease in Receivable |
500.00 |
125.00 |
125.000 |
125.000 |
125.000 |
|
|
|
|
|
|
|
|
Increase/ Decrease in Other Current Assets |
36.500 |
2.175 |
9.206 |
(1.197) |
7.500 |
|
|
|
|
|
|
|
|
Total |
1134.000 |
284.675 |
284.206 |
273.803 |
282.500 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF INCOME
MR. NIRAV ANIL VIRANI
(RS. IN MILLIONS)
|
Particulars |
2010-2011 |
||
|
|
|
||
|
Income from Salary |
|
|
|
|
Gross salary
from Karp Impex Limited |
|
0.600 |
|
|
Income
Chargeable Under the head ‘Salaries’ |
|
|
0.600 |
|
|
|
|
|
|
Income from Business/ Profession |
|
|
|
|
Commission
Income – Diamonds – Trading in Diamonds |
|
|
|
|
Net Profit as
per Profit and Loss |
|
0.326 |
|
|
Less:
Professional Tax |
|
0.003 |
|
|
|
|
0.323 |
|
|
Income chargeable
under the head ‘Business/ Profession’ |
|
|
0.323 |
|
|
|
|
|
|
Capital Gain |
|
|
|
|
Capital Gain on
Sale of Residential property – Flat sale price as on 30.09.2009 |
|
19.200 |
|
|
Less: Indexed Cost
of acquisition (7,905,750 x 632/ 480) |
10.409 |
|
|
|
(cost as on
30.09.2004 – Rs.7.906 Millions) |
|
|
|
|
Expenses on
Transfer |
0.584 |
|
|
|
|
|
10.993 |
|
|
Capital Gain |
|
8.207 |
|
|
|
|
|
|
|
Less: Exemption |
|
|
|
|
U/s 54-Rs.10.409
Millions Invested in Residential Property |
|
8.207 |
|
|
(within a period
of 1 year before the date of Transfer / sale) |
|
|
|
|
|
|
|
|
|
Long Term
Capital Gain |
|
|
0.000 |
|
|
|
|
|
|
Income from Other Sources |
|
|
|
|
Bank Saving A/c
Interests |
|
0.018 |
|
|
Dividend Rs.228
– Exempt u/s 10 (34) |
|
0.000 |
|
|
Income
chargeable under the head income from other sources |
|
|
0.018 |
|
|
|
|
|
|
Total Income (Rounded off u/s 288 A) |
|
|
0.941 |
------------------------------------------------------------------------------------------------------------------------------
MR. NIRAV ANIL VIRANI
CAPITAL ACCOUNTS
(RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
Particulars |
31.03.2010 |
|
|
|
|
|
|
To Telephone Expenses |
0.000 |
By P and L A/c (N et Profit) |
4.208 |
|
To General Expenses |
0.278 |
By Balance B/d |
31.275 |
|
To Service Tax |
0.000 |
By Capital Gain |
10.608 |
|
To LT W/off |
0.121 |
|
|
|
To Rent |
0.012 |
|
|
|
To Balance C/d |
45.680 |
|
|
|
|
|
|
|
|
Total |
46.091 |
Total |
46.091 |
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners’ Capital A/c |
|
|
45.680 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
45.680 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
106.132 |
|
|
TOTAL BORROWING |
|
|
106.132 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
151.812 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
7.681 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1.297 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
142.834 |
|
Total
Current Assets |
|
|
144.131 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
144.131 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
151.812 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
EXPENDITURE |
31.03.2010 |
INCOME |
31.03.2010 |
|
|
|
|
|
|
To Professional Tax |
0.003 |
By
Profit from reg. Firm |
3.266 |
|
To Bank Commission |
0.000 |
Loss from VBROS – (1400) |
|
|
|
|
Profit from Keniz – 23469 |
|
|
|
|
Profit from Shanty Enterprises – 3244054 |
|
|
|
|
By Bank Interests |
0.018 |
|
|
|
By Remuneration |
0.600 |
|
|
|
By Dividend |
0.000 |
|
To Net Profit C/d |
4.208 |
By Reassortment Diamonds |
0.327 |
|
|
|
|
|
|
Total |
4.211 |
Total |
4.211 |
------------------------------------------------------------------------------------------------------------------------------
MR. KEVAL KISHOR VIRANI
CAPITAL ACCOUNTS
(RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
Particulars |
31.03.2010 |
|
|
|
|
|
|
To TDS |
0.087 |
By Balance |
32.867 |
|
To Professional Tax |
0.003 |
By Net Income |
3.866 |
|
To Net Capital |
36.643 |
|
|
|
|
|
|
|
|
Total |
36.733 |
Total |
36.733 |
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners’ Capital A/c |
|
|
36.643 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
36.643 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
105.000 |
|
|
TOTAL BORROWING |
|
|
105.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
141.643 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4.124 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1.040 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
136.479 |
|
Total
Current Assets |
|
|
137.519 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
137.519 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
141.643 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
EXPENDITURE |
31.03.2010 |
INCOME |
31.03.2010 |
|
|
|
|
|
|
To Bank Commission |
0.001 |
By Remuneration |
0.600 |
|
To Loss from
Reg. Frim |
|
By Profit from Reg. Frim |
|
|
To Vbros |
0.001 |
Shanti Enterprises |
3.244 |
|
|
|
Keniz |
0.023 |
|
To Net Income |
3.865 |
|
|
|
|
|
|
|
|
Total |
3.867 |
Total |
3.867 |
------------------------------------------------------------------------------------------------------------------------------
KARP MANUFACTURING COMPANY
CAPITAL
ACCOUNTS
(RS. IN MILLIONS)
|
Particulars
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Partners
Capital |
|
|
|
Karp Diamond Private Limited |
42.349 |
38.820 |
|
Karp Impex Limited |
517.440 |
342.931 |
|
|
|
|
|
Total
|
559.789 |
381.751 |
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners’ Capital A/c |
|
559.789 |
381.751 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
559.789 |
381.751 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
199.554 |
524.604 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
199.554 |
524.604 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
759.343 |
906.355 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
247.662 |
142.968 |
|
|
Capital work-in-progress |
|
0.000 |
108.373 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
338.931 |
371.286 |
|
|
Sundry Debtors |
|
482.891 |
415.509 |
|
|
Cash & Bank Balances |
|
53.315 |
8.758 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
6.810 |
10.695 |
|
Total
Current Assets |
|
881.947 |
806.248 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
346.115 |
127.253 |
|
|
Other Current Liabilities |
|
23.850 |
23.850 |
|
|
Provisions |
|
0.301 |
0.131 |
|
Total
Current Liabilities |
|
370.266 |
151.234 |
|
|
Net Current Assets |
|
511.681 |
655.014 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
759.343 |
906.355 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sales – Exports) |
|
1834.113 |
1711.085 |
|
|
|
Other Income |
|
0.870 |
0.995 |
|
|
|
TOTAL (A) |
|
1834.983 |
1712.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Closing Stock of Finished Goods |
|
4.552 |
42.519 |
|
|
|
Raw Materials Consumed |
|
1398.617 |
1313.654 |
|
|
|
Manufacturing Expenses |
|
34.358 |
33.604 |
|
|
|
Administrative Expenses |
|
1.778 |
2.275 |
|
|
|
Selling and Distribution Expenses |
|
0.846 |
0.690 |
|
|
|
Preliminary Expenses |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
|
1440.151 |
1392.742 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
394.832 |
319.338 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
35.402 |
33.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
359.430 |
286.323 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6.055 |
7.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
353.375 |
279.296 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.432 |
0.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
352.943 |
279.186 |
|
------------------------------------------------------------------------------------------------------------------------------
KARP IMPEX LIMITED
AS ON 31.03.2011 (PROVISIONAL)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3788.832 |
3289.186 |
2840.645 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3838.832 |
3339.186 |
2890.645 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5695.501 |
5590.721 |
6002.301 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
5695.501 |
5590.721 |
6002.301 |
|
|
DEFERRED TAX LIABILITIES |
86.982 |
86.982 |
73.976 |
|
|
|
|
|
|
|
|
TOTAL |
9621.315 |
9016.889 |
8966.922 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
686.104 |
582.968 |
560.605 |
|
|
Capital work-in-progress |
12.214 |
50.240 |
50.240 |
|
|
|
|
|
|
|
|
INVESTMENT |
531.357 |
619.904 |
445.396 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5925.562
|
4209.039 |
3360.873 |
|
|
Sundry Debtors |
4209.018
|
3795.473 |
4808.808 |
|
|
Cash & Bank Balances |
82.333
|
95.765 |
58.289 |
|
|
Other Current Assets |
0.000
|
0.073 |
1.376 |
|
|
Loans & Advances |
497.201
|
553.920 |
387.757 |
|
Total
Current Assets |
10714.114
|
8654.270 |
8617.103 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2014.861
|
270.513 |
500.428 |
|
|
Other Current Liabilities |
3.299
|
380.666 |
33.981 |
|
|
Provisions |
304.314
|
239.314 |
172.013 |
|
Total
Current Liabilities |
2322.474
|
890.493 |
706.422 |
|
|
Net Current Assets |
8391.640
|
7763.777 |
7910.681 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9621.315 |
9016.889 |
8966.922 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
31.03.2011 (Provisional)
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Income from Operations |
12256.884 |
11801.161 |
10995.669 |
|
|
|
Other Income |
401.345 |
351.825 |
278.260 |
|
|
|
TOTAL (A) |
12658.229 |
12152.986 |
11273.929 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Stock |
(1044.784) |
84.269 |
(481.101) |
|
|
|
Cost of Materials |
12116.241 |
10538.798 |
10472.746 |
|
|
|
Employee’s Remuneration and benefits |
96.169 |
72.901 |
54.770 |
|
|
|
Manufacturing and Others Expenses |
482.033 |
446.594 |
360.465 |
|
|
|
Selling and Distribution Expenses |
171.524 |
74.190 |
29.217 |
|
|
|
TOTAL (B) |
11821.183 |
11216.752 |
10436.097 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
837.046 |
936.234 |
837.832 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
232.275 |
376.581 |
378.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
604.771 |
559.653 |
458.840 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.124 |
37.293 |
35.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
564.647 |
522.360 |
423.818 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
65.000 |
69.222 |
57.664 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
499.647 |
453.138 |
366.154 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
INCOME/ (EXPENSES) (NET) |
-- |
7.888 |
-- |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX
EXPENSES RELATING TO PREVIOUS YEAR |
-- |
(11.086) |
-- |
|
|
|
|
|
|
|
|
|
|
PRIOR YEAR TAX
ADJUSTMENTS (NET) |
-- |
(1.400) |
(2.089) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2087.196 |
1638.656 |
1284.591 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
-- |
-- |
10.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2586.843 |
2087.196 |
1638.656 |
|
|
|
|
|
|
|
|
|
|
Exports Value |
NA |
11236.355 |
11310.461 |
|
|
|
|
|
|
|
|
|
|
Import Value |
NA |
10369.137 |
10506.271 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
90.63 |
73.23 |
|
------------------------------------------------------------------------------------------------------------------------------
KARP DIAMONDS PRIVATE LIMITED
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Share |
Rs.10/- each |
Rs.9.500 Millions |
|
50000 |
Unsecured Loans |
Rs.10/- each |
Rs.0.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
883160 |
Equity Share |
Rs.10/- each |
Rs.8.832 Millions |
|
|
|
|
|
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
8.832 |
8.832 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
81.302 |
78.634 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
90.134 |
87.466 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
-- |
-- |
|
|
2] Unsecured Loans |
|
3.500 |
3.500 |
|
|
TOTAL BORROWING |
|
3.500 |
3.500 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
93.634 |
90.966 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
28.686 |
30.131 |
|
|
Capital work-in-progress |
|
20.711 |
20.711 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
42.349 |
38.820 |
|
|
DEFERREX TAX ASSETS |
|
0.151 |
0.020 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
1.128 |
0.673 |
|
|
Other Current Assets |
|
0.627 |
0.627 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1.755 |
1.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.018 |
0.016 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.018 |
0.016 |
|
|
Net Current Assets |
|
1.737 |
1.284 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
93.634 |
90.966 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
4.729 |
4.278 |
|
|
|
TOTAL |
|
4.729 |
4.278 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Others
Expenses |
|
0.747 |
0.897 |
|
|
|
TOTAL |
|
0.747 |
0.897 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.982 |
3.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.444 |
1.444 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
2.538 |
1.937 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.130) |
(0.100) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
2.668 |
2.037 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
12.842 |
10.805 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
15.510 |
12.842 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
3.02 |
-- |
|
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
GENERAL
INFORMATION
|
Purpose for
which valuation is made |
To ascertain
fair market value. |
|||
|
|
|
|||
|
Customer contact
no |
9825124621 (Mr.
S Vinodbhai) |
|||
|
|
|
|||
|
Is the property
situated in residential/ commercial / mixed / industrial area? |
Mixed Area |
|||
|
|
|
|||
|
Classification
of Locality, High Class/ Middle Class/ Poor class. |
1st
Class |
|||
|
|
|
|||
|
Proximity to
civic amenities, like Schools, Hospitals, Offices, Market, Cinemas etc. |
Many basic
Amenities are available nearby |
|||
|
|
|
|||
|
Means and
Proximity to surface communication by which the locality is served |
By Means of
rickshaws an d Private Vehicles |
|||
|
|
|
|||
|
LAND |
||||
|
Area of land of
factory |
10656 Sq. yds.
(8910.16 sq. mts.) |
|||
|
|
|
|||
|
Roads, Streets on
which the land is abutting |
Width in feet |
Type |
Status of Road |
|
|
40’0” wide TP road |
Bituminous Road |
Public Road |
||
|
|
|
|||
|
Permissible zone of land |
Industrial Zone |
|||
|
|
|
|||
|
Is it freehold
or lease-hold Lind? |
Freehold Property
|
|||
|
|
|
|||
|
Is the property
owner occupied /rented? |
Owner Occupied |
|||
|
|
|
|||
|
Development
Permission no, and date |
TDO No.164, Date
30/10/2004 |
|||
|
|
|
|||
|
Whether const.
as per appvd. Plan? |
Yes |
|||
|
|
|
|||
|
Surrounding Boundaries
of plot |
North: 40’0”
wide TP Road South: Adj. Property East: Adj High rise building West: 40’0” wide TP Road |
|||
|
|
|
|||
|
FSI Permissible and Utilized |
FSI permissible
: 1.5/ Fully utilsed |
|||
|
|
|
|||
|
Rate of
Prevailing Land in Rs. |
56000 per sq.
yd. |
|||
|
|
|
|||
|
Value of Land/
Plot |
Rs.596.736
Millions (A) |
|||
|
|
|
|||
|
(CONSTRUCTION) |
||||
|
Nos. of floors
and height of each floor |
Bas + Gr. Fl +
Mezz + 6 upper floor, Basement @ 11‘0” ht/ Other fl Having @ 11’10” ht. and @
13’0” ht. |
|||
|
|
|
|||
|
Area of const. |
|
|||
|
Basement Floor |
6434 |
Sq. fts. |
||
|
Other Floors |
114770 |
Sq. fts. |
||
|
Total
Construction |
121204 |
Sq. fts. |
||
|
|
|
|||
|
Age of
Construction |
About 6 years
Old property |
|||
|
|
|
|||
|
Estimated Future
life of structure |
About 44 years
if property maintained |
|||
|
|
|
|||
|
Type of
construction |
RCC farmed
structure |
|||
|
|
|
|||
|
Type of
foundation |
RCC Isolated foundations. |
|||
|
|
|
|||
|
Wall |
|
|||
|
Ground Floor |
9”th. External
walls |
|||
|
Super structure
above ground |
9”th. External
walls |
|||
|
|
|
|||
|
Partition walls |
4 ˝ th partition
walls |
|||
|
|
|
|||
|
Wall Finishing |
Smooth tari type
internal plaster and Double coat sand faced outside plaster. |
|||
|
|
|
|||
|
Doors |
TW framed woolen
panel type doors. |
|||
|
|
|
|||
|
Windows |
Aluminum section
window fitted with MS grills. |
|||
|
|
|
|||
|
Flooring |
Vitrified /
Kotab stone and PVC Carpet flooring with skirting in all floors. |
|||
|
|
|
|||
|
Finishing i.e
paint, pop etc. |
Textured paint |
|||
|
|
|
|||
|
Roofing and
Terrace |
RCC Slab upper
Floor |
|||
|
|
|
|||
|
Special
architectural or decorative features, if any |
Glass, POP and
wood Work |
|||
|
|
|
|||
|
Electrification
and fittings used |
Concealed type
electrification with modular switches. |
|||
|
- Sanitary installation |
Good |
|||
|
- Class of fittings |
Good |
|||
|
|
|
|||
|
Compound wall |
|
|||
|
- Height and length |
Yes, about 7’-0”
height wall |
|||
|
- Type of const. |
Brick masonry
wall |
|||
|
|
|
|||
|
Nos. of lifts an
d capacity |
4 fully auto
elevators of @ 6 pas. |
|||
|
|
|
|||
|
Water tank |
|
|||
|
- Under Ground |
Yes/ RCC |
|||
|
- Over Head |
Yes/ PVC |
|||
|
|
|
|||
|
Pump nos. and
their Horse power |
Provided as per
requirements |
|||
|
|
|
|||
|
Road and paving
within the compound, approx. area and type of paving |
RCC road paving
in approach area. |
|||
|
|
|
|||
|
Sewage disposal
- whether connected to public sewer, if septic tank provided nos. and
capacity |
Connected to
Municipal Sewer. |
|||
|
|
|
|||
|
Special or other
works / facilities, If any |
Very Good
Const./ Interior |
|||
|
|
|
|||
|
Present
condition |
Good |
|||
|
|
|
|||
|
Air Conditioner
provided , if any |
Centrally a.c.,
plant is installed |
|||
TOTAL VALUE OF
PROPERTY
|
|
Land Area |
Rate for land |
||
|
|
10656 |
Sq. yds. |
56000 |
Per sq. yd. |
|
|
|
|
|
|
|
Total land value |
Rs.596.736
Millions |
|||
STRUCTURE VALUE
|
|
BU Area |
Rate of Const. |
||
|
Basement |
6434 |
Sq. fts. |
800 |
Per sq. ft. |
|
GF + Upper ft. |
114770 |
Sq. fts. |
1200 |
Per sq. ft. |
|
Under Ground Water Tank |
170000 |
Its |
6 |
Per lt |
|
Land Development |
38360 |
Sq. fts. |
125 |
Per sq. ft. |
|
Compound Wall |
1090 |
Rft |
800 |
Per Rft |
|
|
|
|
|
|
|
Total Const. Value |
Rs.149.558
Millions |
|||
|
Total Value of the property (a+b+c) |
Rs.746.294
Millions |
|
|
|
|
Fair Market Value |
Rs.746.294
Million |
|
|
|
|
Realizable Value |
Rs.671.665
Millions |
|
|
|
|
Distress Value |
Rs.597.035
Millions |
|
|
|
|
Insurable value of Property @ Rs.1200 per sq. ft. / 121204 sq. ft. /
Rs.145.445 Millions |
|
------------------------------------------------------------------------------------------------------------------------------
PROJECT REPORT
EXECUTIVE
SUMMARY
|
Address / Manufacturing Unit : |
Gem and Jewellery Park Sez, Plot MNo.C-11, GIDC, ONGC Road,
Ichchhapore, Surat – 395002, Gujarat, India Phone: 91-0261 -2535721 Fax: 91 0261 -2535725 Email: shantana@karpgroup.com Website: karp@karpgroup.com |
|
|
|
|
Business |
Export at jewellery studded with precious and semi precious stones
more particularly diamonds and cut and polished diamonds manufactured by the
unit. |
|
|
|
|
Purpose of Project: |
To set up a unit in Gem and Jewellery Park SEZ for export of jewelry
studded with precious and semi precious stones more particularly diamonds and
cut and polished diamonds manufactured in the unit |
|
|
|
|
Market |
Firm is looking at exporting 100% of its products, The tocus markets
will be USA., China, Hong Kong, UAE., Belgium, Japan and other countries |
|
|
|
|
Overall benefits and Opportunity of the project |
Highly profitable venture Young and dynamic professional partners Government encouragement Equidistance from Mumbai and Ahmedabad Availability of trained Labours Low competition from Indian companies |
|
|
|
|
Project Cost |
The initial project cost will be around 110.525 Millions required
mainly for procuring the necessary fixed assets and establishment expenses |
|
|
|
|
Sources of Fund |
The capital required for the project will be brought in through
internet sources. The contribution will be made by the partners Initially |
OPERATIONAL AND
PROJECT INFORMATION
GLOBAL SCENARIO
AND OPPORTUNITIES:
For the years, global jewellery map has remained almost static with a
handful of countries dominating the scene at various stages in the value chain,
however, in line with other industries, with increasing globalization, the
jewellery industry too is moving towards greater geographical dispersion aimed
at capturing either economic of scale or targeting emerging markets and as this
trend takes off in a big way, the industry map is expected to change
considerably.
Accelerating economic growth In India and china as well as supportive
government legislation will also see the emergence of these countries as
jewellery’ fabrication centers. India enjoys competitive advantages mainly on
the advantage of cheaper, highly productive skilled labour and supportive
regulatory environment.
Traditionally the global jewellery retail market has been dominated by
tie U.S., with none of the other countries individually accounting for more than
10 percent of global sales. Similarly, jewellery fabrication has been dominated
by Italy and the U.S. and to a lesser extent by India. The analysis conducted
by the gem and jewellery export promotion council indicates that these
traditional centers will fade in favor of new centers i.e. India. China and
Turkey.
This is evident from the fact that, the Indian Gem and Jewellery
industry has witnessed a growth of 38.25% amounting to total export of US $
23.5 billion in April 2010 – Nov 2010 against USD 17.1 billion in the previous
year. The Gem and Jewellery sector accounts for a major share in India’s total
merchandise exports.
This is performance is all the mare commendable considering the fact
that the rupee showed a steady gain over the US Dollar for most part of the
year.
Export of cut and polished diamonds which was the performance driver for
the period in consideration amounting to nearly 69% of the export basket, grew
from USD 10.6 billion in April 2009 – Nov. 2009 to USD 16.4 billion in 2010 for
the same period. Hong kong emerged as largest importer of cut and polished
diamonds from India, with a share of 35% of the total exports followed by the
united stated, which accounted for 24% and UAE at 3%.
The export of gold jewellery rose by 10% will total exports amounting to
USD 6.0 billion in April 2010 to Nov. 2010 as compared to USD 5.4 billion for
the same period.
Accelerating fashion cycles, relative factor costs between manufacturing
and consuming nations, and volatile metal prices have fuelled a drive towards
moving fabrication to low cost countries like India.
In response to these shifts in paradigms in the global jewellery
industry creating opportunity for the Indian entrepreneurs in the world market,
the promoters have envisioned to make their mark in the global jewellery
industry with this project.
ABOUT THE PROJECT:
The project is for setting up manufacturing unit for jewellery and eel
and polished diamond aimed at almost 100% exports in the emerging market. In
order to leverage upon the competitive and Locational advantages of Gem and
Jewellery special Economic zone, Ichchhapore, Surat the promoters have bestowed
their choice on setting up project at the subject location.
Initially, the project will start with building of the unit admeasuring
around 2033 sq. yards with primary manufacturing facilities for the large size
diamonds solitaires.
The firm may purchases local/ Import polish diamonds as per the
requirement of their overseas buyers. The initial project cost will be around
Rs.110.525 Millions. The entire project is funded through own capital at
present. The proposed production capacity shall be of 2000 carats per month.
The project envisaged Exports of around USD 32.592 million in coming 5
years with NFE of USA 141.900 millions.
ABOUT THE
PROMOTERS:
The project is being set up by M/s. Shantana Impex. A venture of young
and dynamic Virani brothers who belong to KARP group which is considered as
synonymous or perfection in diamond aria has make its mark at the global level with
innovation, creativity and technology orientation.
There are three partners in the venture having good experience in this
field. Their vision and diligence have resulted in excellent growth of their
business; a brief profile of the partners is presented here under.
1] Mr. Keval
Kishor Virani aged about 28 years has over 05 years of experience in diamond and
jewellery manufacturing related business By qualification Masters in
engineering (Mechatronics) from the University of Manchester (UK). The
Knowledge is used for specialization in gem and jewellery manufacturing
technology. Holds excellent technical know-how of the manufacturing of rough
diamond / jewellery.
2). Mr. Nirav Anil
Virani aged about 26 years, has over 05 years of experience in diamond and
jewellery manufacturing related business. By qualification he is a BBA (Hans)
from University of Sunderland (UK) and also he is (G.G) Gemologists from
Gemological institute of America (GIA) USA having specialization in gradation
of diamonds. He hold’s excellent marketing skills for the marketing of the
jewellery. He is pioneer in innovative marketing strategies. He has good
business relationship in overseas markets.
3). M/S Karp
Diamonds Private Limited is a 100 % subsidiary of Karp Impex Limited
incorporate in the year 1989. The company has build a Diamond Polishing factory
at Jasdan. The Directors are Mr. Ashvin G. Kukadia, having a vast experience in
the diamond cutting industry will certainty give The partnership an added
advantage.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
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.44.96 |
|
|
1 |
Rs.73.94 |
|
Euro |
1 |
Rs.64.56 |
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.