MIRA
INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJANAND TECHNOLOGIES PRIVATE LIMITED [w.e.f. 29.08.2002] |
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|
|
|
Formerly Known As : |
SAHAJANAND LASER
TECHNOLOGY PRIVATE LIMITED |
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|
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Registered
Office : |
401, Gandhi
Smruti Apartment, |
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Country : |
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|
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Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
15.03.1993 |
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|
|
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Com. Reg. No.: |
04-19133 |
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Capital
Investment / Paid-up Capital : |
Rs.50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900GJ1993PTC019133 |
|
|
|
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IEC No.: |
0893003638 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00836D |
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|
|
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PAN No.: [Permanent Account No.] |
AADCS4343N |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Supplier,
Trader and Exporter of Diamond Cutting Laser Machine, Laser Spot Welding
Machine, Card Personalization Laser Systems, Rapid Prototyping Machine, Laser
Engraving Machine. |
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|
|
|
No. of Employees
: |
150
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1460000 |
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|
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track.
Directors are reported as experienced, respectable and resourceful
industrialist. Trade relations are fair. Payments are reported to be usually
correct and as per commitments. The company can be considered good for normal for business dealings at
usual trade terms and conditions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 |
LOCATIONS
|
Registered/ Head Office : |
401, Gandhi
Smruti Apartment, |
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Tel. No.: |
91-261-2451451-58 |
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Mobile No.: |
91-9925100005 (Mr. Jayanti Yoghasis) |
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Fax No.: |
91-261-2427947 |
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E-Mail : |
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Website : |
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Area : |
2400 Sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No.33, 34, 35, 52, 53 and 54, |
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Tel No.: |
91-261-2398711/ 2398712/ 2398463 |
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Fax No.: |
91-261-2398331 |
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Branch Office : |
102, Hi-tech Industrial Estate, Vardhaman Compound, |
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Tel No.: |
91-22-32574588/ 32503395 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dhirajlal Vallabhbahi Kotadia |
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Designation : |
Director |
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Address : |
43, Narayanmuni Nagar Society, Nani Ved, |
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Date of Birth/Age : |
01.01.1958 |
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Qualification : |
BE (Electronic) |
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Date of Appointment: |
25.03.2004 |
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Experience : |
20 Years |
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DIN No.: |
00013035 |
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Other Directorship : |
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Name : |
Mr. Dhirajkumar Savjibhai Vasoya |
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Designation : |
Managing Director |
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Address : |
Parishram, 47, Narmad Nagar, Athwalines, |
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Date of Birth/Age : |
03.04.1962 |
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Date of Appointment: |
12.05.2006 |
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Qualification : |
B.Com |
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Experience : |
20 Years |
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DIN No.: |
00013067 |
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Other Directorship : |
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Name : |
Mr. Vallabhbhai Nathabhai Kotadia |
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Designation : |
Director |
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Address : |
Post Bhalgam via Bagasara, Taluka – Visavadar, Junagadh – 365440, |
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Date of Birth/Age : |
17.03.1937 |
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Date of Appointment: |
10.07.2004 |
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DIN No.: |
02443716 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dhirajlal
Vallabhbhai Kotadia |
|
250000 |
|
Dhirajkumar
Savjibhai Vasoya |
|
500500 |
|
Vallabhbhai N.
Kotadia |
|
2250000 |
|
Shardaben D.
Kotadia |
|
1999500 |
|
Total |
|
5000000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
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BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Supplier, Trader and Exporter of Diamond Cutting Laser Machine, Laser Spot
Welding Machine, Card Personalization Laser Systems, Rapid Prototyping
Machine, Laser Engraving Machine. |
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Products : |
·
Diamond Processing ·
Medical Technology ·
Industrial Laser
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Installed Capacity |
Actual Production |
|
Laser Machines |
350 Machines |
28 Machines |
|
Diamond
Measurement Systems |
500 Machines |
139 Machines |
|
Automatic
Polishing Machines |
100 Machines |
38 Machines |
GENERAL INFORMATION
|
Customers : |
· Anjana Exports · Ankit Exports · Ashapuri Exim Private Limited · B. Manek Exports · C. J. Exporters · Dhiren diamonds · Gandhi Enterprises · Italiya Exports · J B Diamonds · M Sushil and company · Mania International · Navin gems · R T Diamonds Private Limited · S R Cleavers · Vraj Diamonds |
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No. of Employees : |
150
(Approximately) |
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Bankers : |
§ Dena Bank, Industrial Finance Branch, Maker Tower ‘E’, 9th Floor, Cuffe Parade, Mumbai – 400 005, Maharashtra, India
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Facilities : |
Notes: (i) The Company is enjoying the Cash Credit facility with Dena Bank of
Rs.50.000 millions. The same is secured against the hypothecation of
Inventory and Sundry Debtors. Collateral Security for the same is provided in
form of various immovable and movable properties of Company and Shareholders
as well and personal guarantee of directors and shareholders. (ii) Other Secured Loans consist of auto finance sought for the
purchase of Vehicles. The same stands secured against the assets so
purchased. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Surendra Shah and
Associates Chartered
Accountants |
|
Address : |
7006, 7th
Floor, World Trade Centre, Near Udhna Darwaja, |
|
Tel. No.: |
91-261-2353774/
2334427/ 2302346/ 3912346/ 6662346 |
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Mobile No.: |
91-9374715151 |
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Fax No.: |
91-261-2353774/
2334427/ 2302346/ 3912346/ 6662346 |
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E-Mail : |
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Pan No.: |
ACIPS3187Q |
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Subsidiaries : |
·
Sahajanand
Life Sciences Private Limited CIN : U24231GJ2001PTC039726 Address: Sahajanand Estate, Activity: Manufacturer of Herbal Medicines · Lightwave Technologies Company Limited F/1, No. 2, Building 14, Sha Wan Tel: +86 20 34875750 Fax: +86 20 34875760 Mob: +86 13809247373 Website: www.lightwave.cn Email: lightwavetech@163.com * Light Wave Technologies |
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Other Related Parties : |
·
Sahajanand
Medical Technologies Private Limited (Promoter along with their relatives
holding more than 20% control) CIN : U33119GJ2001PTC040121 Address: 304, Sahajanand House, Line of Business:
Manufacturer of Cardiovascular Medical Stents] Relationship: Promoter along with their relatives
Holding more than 20% Control * Shiv Laser Tech Private Limited CIN :
U29199GJ1997PTC032545 ·
Sahajanand Vascular Technoventions Private
Limited (Promoter along with their
relatives holding more than 20% control) CIN : U36912GJ1999PTC035792 ·
Nyalkaran
Industries Private Limited (Promoter along with their relatives holding more
than 20% control) ·
SS International ·
Sahajanand Enterprises ·
SS Processors ·
Light Wave Technologies |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs.70.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
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 |
315.207 |
273.684 |
251.609 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
365.207 |
323.684 |
301.609 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
83.284 |
0.596 |
48.538 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
83.284 |
0.596 |
48.538 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
448.491 |
324.280 |
350.147 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.894 |
44.693 |
50.930 |
|
|
Capital work-in-progress |
7.415 |
4.412 |
3.239 |
|
|
|
|
|
|
|
|
INVESTMENT |
28.533 |
25.274 |
26.327 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
203.574 |
132.803 |
147.148 |
|
|
Sundry Debtors |
58.512 |
72.877 |
76.596 |
|
|
Cash & Bank Balances |
1.149 |
3.044 |
6.404 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
140.252 |
64.258 |
54.984 |
|
Total
Current Assets |
403.487
|
272.982
|
285.132
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
4.890
|
8.014
|
7.669
|
|
|
Other Current Liabilities |
9.723 |
8.613 |
4.984 |
|
|
Provisions |
17.225 |
6.516 |
2.952 |
|
Total
Current Liabilities |
31.838 |
23.143 |
15.605 |
|
|
Net Current Assets |
371.649 |
249.839 |
269.527 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.062 |
0.124 |
|
|
|
|
|
|
|
|
TOTAL |
448.491 |
324.280 |
350.147 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover (Including Other Income) |
|
157.418 |
151.464 |
|
|
|
TOTAL (A) |
NA |
157.418 |
151.464 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
136.819 |
201.002 |
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Other Expenditure |
|
|
|
|
|
|
TOTAL (B) |
NA |
136.819 (including
financial expenses) |
201.002 (including
financial expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
- |
20.599 |
(49.538) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
7.161 |
8.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
13.438 |
(58.125) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
1.540 |
0.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.113 |
11.898 |
(58.424) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
NA |
33.342 |
36.548 |
|
|
TOTAL EARNINGS |
NA |
33.342 |
36.548 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
FOB Value |
- |
50.322 |
74.299 |
|
|
|
Custom Duty |
- |
0.093 |
0.147 |
|
|
|
Fright, Clearing and Forwarding Expenses, Insurance Charges |
- |
1.919 |
3.527 |
|
|
TOTAL IMPORTS |
NA |
52.334 |
77.973 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
4.41 |
(11.68) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
7.56 |
(38.57) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
4.23 |
(17.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
NA |
0.04 |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
0.31 |
0.07 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
12.67 |
11.80 |
18.27 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE :
The performance of the company is satisfactory compare to
the previous year. The company has earned gross revenue of Rs. 236.366 millions
during the year. After providing an expenditure of Rs. 135.142 millions, the
company has earned net profit after tax of Rs. 41.113 millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U72900GJ1993PTC019133 |
|
Name of the
company |
SAHAJANAND
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
401 Gandhi Smruti, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of Email : sayedp@bankofbaroda.com |
|
Nature of instrument
creating charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
14.02.2011 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 3.75% above base rate. Terms of
Repayment – On Demand Margin – 25% for RM, SIP,
FG, Stores and Spares and Packing Materials 50% for
Book-debts up to 90 days. Extent and Operation
of the charge - This charge will operate against the inventories, book debts
and movable plant and machineries to the extent of Rs. 150.000 millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive 1st
charge by way of Hypothecation of Stock and Book Debts, Plant and Machineries
of the company, both present and future. |
FORM 8
|
Corporate
identity number of the company |
U72900GJ1993PTC019133 |
|
Name of the
company |
SAHAJANAND
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
401 Gandhi Smruti
Parsi Streetsayedpura, |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Dena Bank,
Industrial Finance Branch, Marker Towers 'E', 9th Floor, Cuffe Parade,
Mumbai- 400005, Maharashtra,
INDIA |
|
Nature of instrument
creating charge |
No instrument was
created but certain properties already charged were released on 10.12.2007. |
|
Date of
instrument Creating the charge |
10/12/2007 |
|
Amount secured by
the charge |
Rs. 180.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest
: No Change Terms of
repayment : No Change Margin : No Change Extent and
operation of the charge : No Change Others : No Change |
|
Short Particulars
of the property charged |
Change is
mentioned in modification. |
|
Date of
instrument modifying the charge |
03/12/2003 |
|
Particulars of
the present modification |
The present
modification releases the property at 15 & 16 Gayatri Industrial Estate,
Katargam, |
CONTINGENT
LIABILITY: (As on 31.03.2010)
The company provides performance warranty on some of the ports of ifs products.
The contingent liability likely to arise on account such warranty claims is not
quantifiable hence not provided for in the books of accounts. Further the
company has provided guarantee for the customers of the Company who purchased
Company’s product on term loan from Deny Bank. Such guarantee totals to
Rs.0.672 million. The sales made to EPCG licence holder was treated as deemed
export and was exempted under soles tax Act, however there is no clearance in
the VAT Act about the taxability of deemed export. The management of the
company is of the opinion that there will also be no VAT liability
(Approximately Rs.30.900 millions) and hence not provided in the books of
accounts.
FIXED ASSETS:
·
·
·
Plant and Machinery
·
Office Equipment
·
Computer Systems
·
Furniture and Fixture
·
Vehicles
·
Electrical Installation
·
Flat at
·
Master Stone
·
Demo Machine
WEBSITE DETAILS
COMPANY HISTORY
Subject was founded by visionary
and dynamic Mr. Dhirajlal Kotadia. When Mr. Kotadia saw laser machine for the
first time, he realized its potential and nurtured a dream to make such
machines available in every nook and corner of the industry. He decided to
showcase great benefits of technology to the industry when people were
reluctant to accept new technology. With a burning desire to realize his dream
he started working towards it.
In the end of 1987 when Mr.
Dhirajlal Kotadia came to
In the end of 1993, company came
into existence. From 1994 to 1998, company carried on producing Laser systems
for diamond cutting and for other numerous applications based on laser systems
viz. welding, cutting, marking etc. Till 1998, company was a dormant company.
From 1998 company started functioning and developed Diamond Analysis and
Planning Machines, Automatic Diamond Polishing, Bruting Machines, Automatic
Angle Setting Machines, besides Laser Systems for diamond cutting.
COMPANY PROFILE
Subject was incorporated in 1993 is a name to reckon with as a trendsetter in development of abreast diamond processing equipments, deploying revolutionary Laser light. ‘Sahajanand’ name uniquely represents leadership in technology transfer and innovation for quality product development. Established in the year 1993 by Mr. Dhirajlal Kotadia, the company has emerged as a pioneer in the diamond industry for its hi-end engineering products.
Company is driven by the motto of continuous innovation to develop products that deliver cutting edge performance with value for money for their customers. They are committed to develop technology solutions for client performance excellence. They have articulated a distinct market sensing mechanism to analyze market trends, customer and industry requirements. This brought a unique set of capabilities for us to develop customer centric technology solutions.
They are a leading manufacturer and exporter of Laser technology centered capital equipments for diamond manufacturing industry. They present ‘Total technology solutions for diamond industry under one roof.’ Their product portfolio broadly includes Diamond Planner Systems, Laser driven Diamond Processing equipments, Auto blocking and Polishing Machines etc. used at different stages of diamond manufacturing process.
Everyday they live the company tradition of engineering excellence and core values of quality, safety, integrity, understanding and responsibility. They are also committed to bring these technologies within the reach of every Indian engaged in these industries. By promoting indigenously manufactured technology products, they save valuable foreign exchange and generate employment. They contribute immensely in the growth of the society by actively doing the philanthropic activities in field of health, education and community development.
Being in the industry for more than 15 years, they earned
vast experience of dynamics of Diamond Industry. They started from scratch and
created a right platform in Indian market. By virtue of this prolonged
attachment with the industry and confidence in their capabilities they believed
that it is not impossible to develop such technology in
COMPETITIVE ADVANTAGE:
Sahajan and stands tall in its arena owing to a number of factors. Few of these are:
· Driven by the purpose of client business excellence.
· A large base of satisfied customers across the globe.
· Dedicated efforts towards technical excellence through continuous innovation.
· Customer centric product development approach.
· Commitment for quality in products and operations.
· Well articulated market sensing mechanism.
· A market share of around 80% of the supply of Laser machines
· Advanced Rand D and manufacturing infrastructure.
· Strong Human Resource consisting of best talent from field of Laser, computer software-hardware, electronics and mechanical and management.
· Highly dynamic and well equipped Marketing and Service team.
· Value for money products.
LEADERSHIP
Dhirajlal Kotadia, Chairman
Mr. Kotadia is Group Chairman and
provides thought leadership and strategic guidance to the Sahajanand group
companies. He has been closely involved in the high tech diamond manufacturing
industry for more than twenty years. Leading Sahajanand since 1989, he became
the architect behind the path-breaking technology revolution in the diamond
industry. Driven by his “innovation” character, he has nurtured Sahajanand
Group which operates with companies in diversified sectors-Engineering and
Laser technology, Medical technology and Biotechnology.
Dhirajkumar Vasoya, Managing
Director
Mr. Vasoya is Managing Director of
the company and Group Director as well. He has been closely involved, from the very
beginning, in growth of Sahajanand Technologies in the diamond industry. He has
started working on laser technology based equipments with Mr. Kotadia. He was
the co-founder of the company. From year 2003, with formal restructuring of the
company, he went on to become Managing Director handling administrative issues.
He is closely associated with group’s range of strategic, administrative and
business performance issues.
Vallabh Narola, CEO and
Director
Mr. Narola is serving as CEO of
Sahajanand Technologies. He is responsible for new product design and
development and establishment of production facilities for entire product line
of the company. He was closely associated with the company since 1995. He was
technology consultant of the Sahajanand Technologies and assisted in designing
Company’s Laser driven diamond processing machines. He decided to join
Sahajanand Technologies in 1997. During this period he was heading a business
unit ‘Crystal Engineers’ and was one of the leading suppliers of the company.
Prior to joining Sahajanand, he was with Gujarat Gas Corporation and has held a
number of senior management positions across the organization. He has
professional experience in management level roles including design, quality
assurance, logistics, purchase and marketing. He has undergone management and
HRD training programs from leading management institutes like IIM-A, XLRI.
Jayanti Vaghasia, Director
(Administration and Finance)
Mr. Vaghasia is appointed Director
(Administration and finance) in 2009. He is associated with range of financial,
administrative and purchase issues of the company. Prior to assuming his
current position, he was serving as Vice President Finance and Administration,
since 2003. He also deals with issues pertaining to export and import strategy
for Sahajanand. He has started his career with Sahajanand Technologies in 1994
handling company accounts and presently contributing to the growth of the
Sahajanand Life Sciences Company.
Prakash Rakholia, Director
(Marketing)
Mr. Rakholia is appointed Director
(Marketing) in 2009. He is responsible for driving Sahajanand’s marketing,
communication and sales strategy for
NEWS:
NEW WIDESPREAD PRODUCT WEBSITE LAUNCHED BY SAHAJANAND
TECHNOLOGIES.
“Sahajanand
Technologies–Surat launched a new products-specific, interactive website this
month. The site www.TheLazer.co.in
is designed to illustrate Sahajanand Technologies research into what laser
technology can offer more to diamond industry.”
Surat, India- 23rd October’08 -
Sahajanand Technologies, India, the high-tech engineering solution provider for
diamond industry revealed its new laser based product’s website www.TheLazer.co.in
Sahajanand Technologies have firm faith that an informative and easy-to-use
website is indispensable to maintain a competitive edge in diamond industry
nationally and internationally.
The launch of the website
strengthens company’s laser product series and identity of Sahajanand
Technologies’ laser technology revolution. The site’s artistic creation and
presentation with bundle of information makes the site an essential visit.
Company has promised that it will be the crucial visit for the all visitor.
Intuitively structured, the site
provides easy and rapid access to the latest laser machinery, Diode Pumped
Systems, Lamp Pumped Systems, Green Laser Systems, and Robotic Systems used for
Diamond Sawing, Diamond Bruting, Diamond Conning, and Girdle Bruting launched
by Sahajanand technologies. The site includes Laser technology, Laser Machinery
features, Technical specifications, Product applications, Brochure download and
media room.
The increased web presence brings
the elements of technology together with updated information to offer customers
an innovative way to fulfill their needs for diamond processing equipments.
Mr. Rahul Gaywala – CEO says “The
new product website is expected to have a significant and positive impact on
Sahajanand Technologies sales in the forth coming years and will bolster
Sahajanand Technologies position as a leader in planning, analyzing, and
manufacturing technologies. Introduction of some rich features like what is
laser technology, why laser technology, why Sahajanand Technologies, etc. makes
the website more users friendly and interactive.”
DIAMOND INDUSTRY –
- From time
immemorial,
- The
achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
- The area of
study of family owned diamond businesses derives its importance from the
huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
- Some of the
basic traits of family run business enterprises include spirit of
entrepreneurship; mutual trust lowers transaction costs, small, nimble and
quick to react, information as a source of advantage and philanthropy.
- Family owned
diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
- The Diamond
Jewelry Industry in
- Utmost
caution is to be exercised while dealing with some medium and large
diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
- Excerpts from
Times of India dated 30th October 2010 is as under –
DIAMOND SAGA –
DIRTY DOZEN STUCK WITH 2K CR DEBT
- This could be
the biggest credibility crisis the Indian diamond industry has ever faced.
Fifteen banks run the risk of losing Rs 20000 millions lent to a dozen
diamond firms in
- Most of the
money borrowed from the banks in the name of their diamond business has
been diverted in real estate and the share market. The banks are not in a
position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
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.53.21 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.