MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
M. SONS GEMS N JEWELLERY PRIVATE LIMITED (w.e.f. 05.07.2011) |
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Formerly Known
As : |
M. SONS ENTERPRISES PRIVATE LIMITED
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Registered Office
: |
K-47 Alajapat Nagar – II, Central Market, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.01.2004 |
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Com. Reg. No.: |
55-124021 |
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Capital Investment
/ Paid-up Capital : |
Rs 40.750
Millions |
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|
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CIN No.: [Company Identification
No.] |
U74999DL2004PTC124021 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM11362B |
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PAN No.: [Permanent Account No.] |
AADCM9406A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Jewellery such as Diamaond Jewellery, Gold Jewellery,
Kundan Jewellery etc. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 423780 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Profit margin
is very low. However, trade relation are reported as fair. Business is
active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Nirmal |
|
Designation : |
Accountant |
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Contact No.: |
91-9818405540 |
|
Date : |
10.08.2011 |
LOCATIONS
|
Registered Office : |
K-47 Alajapat Nagar – II, Central Market, |
|
Tel. No.: |
91-11-26565343 / 29830933 / 46063132 / 29842095 / 29846535 |
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Mobile No.: |
91-9818405540 (Mr. Nirmal) 91-9810732132 (Mr. Rajiv) |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
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Branches : |
56, |
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Location : |
Owned |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
As on 31.05.2010
|
Name : |
Mr. Rajiv Kumar Jain |
|
Designation : |
Director |
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Address : |
84, Bharat Nagar, New Friends Colony, |
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Date of Birth/Age : |
16.02.1969 |
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Date of Appointment : |
12.01.2004 |
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DIN No.: |
00783513 |
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Name : |
Mrs. Meeru Jain |
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Designation : |
Director |
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Address : |
84, Bharat Nagar, New Friends Colony, |
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Date of Birth/Age : |
18.07.1970 |
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Date of Appointment : |
12.01.2004 |
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DIN No.: |
00783526 |
KEY EXECUTIVES
|
Name : |
Mr. Nirmal |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.05.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Kumar Jain |
|
3536430 |
|
Rajiv Jain HUF |
|
8510 |
|
Meeru jain |
|
530100 |
|
Total |
|
4075040 |
Equity Share Break up (Percentage of Total Equity)
As on 31.05.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Jewellery such as Diamaond Jewellery, Gold Jewellery,
Kundan Jewellery etc. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Rs in Millions |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sunil K Gupta and Association Chartered Accountant |
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Address : |
4852/24, I Floor, |
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Tel. No.: |
91-011-64583945 / 45643953 |
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Mobile No.: |
91- 98201070619 |
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E-Mail : |
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PAN.: |
AACFS1977J |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4075040 |
Equity Shares |
Rs.10/- each |
Rs 40.750
Millions |
Note: Out of the above 246000 Equity Shares of Rs
10/- each paid up for consideration other than cash
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
|
3090.700 |
2596.700 |
The above information has been parted by Mr. Nirmal
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.750 |
40.750 |
29.951 |
|
|
2] Share Application Money |
0.000 |
0.122 |
20.198 |
|
|
3] Reserves & Surplus |
65.195 |
34.320 |
16.985 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.00 |
|
|
NETWORTH |
105.945 |
75.192 |
67.134 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
145.685 |
90.348 |
81.860 |
|
|
2] Unsecured Loans |
3.679 |
3.841 |
2.040 |
|
|
TOTAL BORROWING |
149.364 |
94.189 |
83.900 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL |
255.309 |
169.381 |
151.034 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.966 |
4.692 |
5.344 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.173 |
0.036 |
0.002 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
373.424
|
211.476 |
170.416 |
|
|
Sundry Debtors |
153.760
|
94.523 |
132.466 |
|
|
Cash & Bank Balances |
0.000
|
0.000 |
6.925 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
29.318
|
6.447 |
10.627 |
|
Total
Current Assets |
556.502
|
312.446 |
320.434 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
127.710
|
19.050 |
29.359 |
|
|
Other Current Liabilities |
157.336
|
108.692 |
13.266 |
|
|
Provisions |
21.306
|
20.163 |
9.717 |
|
Total
Current Liabilities |
306.352
|
147.905 |
174.810 |
|
|
Net Current Assets |
250.150
|
164.541 |
145.624 |
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.020 |
0.112 |
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
255.309 |
169.381 |
151.034 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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|
SALES |
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Income |
|
|
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|
Other Income |
|
|
|
|
|
|
TOTAL |
3090.687 |
2596.700 |
NA |
|
|
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|
|
|
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|
Less |
EXPENSES |
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|
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|
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|
|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Interest and Financial Expenses |
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Depreciation |
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|
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TOTAL |
3058.305 |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) |
32.382 |
2774.600 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.724 |
NA |
NA |
|
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|
|
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|
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|
PROFIT AFTER TAX
(G-I) |
21.658 |
NA |
NA |
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|
|
|
Earnings Per
Share (Rs.) |
5.31 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.70
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.77
|
874.89 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
36.90 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.30
|
3.22 |
3.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
2.11 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING/ FINANCIAL RESULTS:
The company has opened one new showroom in Aurbindo Place Market,
Website Details:
About us:
Jewellery is an quintessential statement piece in any woman's wardrobe.
It can add the right accent to any outfit and comes in many styles, colors,
designs to ensure that one can find exactly what works for one's personal
style. A constant strive to create an enduring collection of designer jewellery
ranging from Diamond Jewellery, Gold Jewellery, Kundan Jewellery, Victorian
Diamonds/Polki Jewellery etc. has propelled to reach a special place in the
industry for M.Sons EnterprisesPrivate Limited Incepted in the year 1990, they,
Subject. has made an indelible mark in the jewellery industry, and soon emerged
as a leading manufacturer and exporter of wide range of dazzling piece of
jewellery.
They are a traditional and trusted name in Jewellery - a name that
spells unwavering quality and purity. They have gained a huge momentum and
achieved a respectable position in the industry because of their path breaking
design and competitive pricing. The motto of their organization is to deliver
high quality goods to their valuable clients. Their company foundation has been
laid down on the guiding principle of management and has taken all efforts to
apply and implement this over the years. The innovative craftsmanship that
makes every piece of jewellery unique and breathtaking, has greatly contributed
to their long list of clientele. Moreover, they also offer customization
service for their stunning trove so that their clients get in accordance with
their preferences. They believe in purity and therefore, take utmost care to
select gold, silver and diamond of superior quality, carefully procured from
reliable sources to make the jewellery impressive.
They are committed to the highest level of client satisfaction,
therefore, in their every creation of hall marked jewellery, is the benchmark
of purity and with a guaranteed authenticity assuring the use of finest-cut
diamonds. In any business client's satisfaction is of paramount importance and
surely tops the list of all priorities. All services are centered around to
achieve client's appreciation and good relations. In line with the ethos, they
try their level best to ensure a superior quality with unmatched perfection.
Furthermore, they understand the need of clients and offer customization
facility that gives them an edge over other competitive players in the
industry. They also take care of packaging of products and deliver it to the
client's end at the stipulated time frame.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10191087 |
|
Corporate
identity number of the company |
U74999DL2004PTC124021 |
|
Name of the
company |
M. SONS ENTERPRISES PRIVATE LIMITED
|
|
Address of the
registered office or of the principal place of business in |
K-47 Alajapat Nagar – II, Central Market, |
|
Type of charge |
Book Debts Movable Property Any Interest in
Immovable Property Pari Passu charge
with Laxmi Villas bank |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Letter ceding
pari passu charge from SBBJ, Amar Colony Branch, Letter ceding
pari passu charge from LVB, Janpath Branch, |
|
Date of
instrument Creating the charge |
12.05.2011 |
|
Amount secured by
the charge |
Rs 200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per agreement Terms of
Repayment On Demand Margin Finished Goods –
25% and book Debts – 50% Extent and
Operation of the charge 100% Others To secure all
amounts payable under various credit facilities amounting to Rs 200.000 Millions
granted to the company together with all interest, costs, charges, expenses
etc. (Cash Credit Rs 100.000 millions ( Sub Limit of Book Debts of Rs 40.000
Millions) and Bank Gurantee Rs 100.000 Millions) |
|
Short particulars
of the property charged |
1)Hypothecation
of stocks of Gold, Diamonds, Gems and jewelleries and other precious
metals, stock in transit, finished
goods, book debts, other Current assets &movable fixed assets of the
company by way of first pari passu charge between Lakshmi Vilas Bank, Janpath
Branch, New Delhi and State Bank of Bikaner and Jaipur 2) Omnibus counter guarantee of the company |
|
Particulars of
the present modification |
The Charge
created by the Company in all respects rank first pari passu with the charge created
in favour of Lakshmi Vilas Bank. Other Terms & conditions remaining the
same. |
FIXED ASSETS:
- Air Conditioner
- Balance Machine
- Building
- Camera
- Car and Vehicle
- Computer
- Electronics Bal Met
- Fax
- Fire Extinguisher
- Furniture and Fixtures
- Generator
- Invertor
- Mobiles
- Music System
- Neon Sign Board
- Paper Shedding
- Phone
- Printer
- Scooter
- Security System
- Software
- T. V
- Tea Machine
- Water Cooler
- Xerox
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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.