MIRA
INFORM REPORT
|
Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
SOVEREIGN DIAMONDS LIMITED (w.e.f. 27.12.1991) |
|
|
|
|
Formerly Known
As : |
HOTCHAND HIRANAND PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Sovereign House, 11-A, Mahal Industrial Estate, Mahakali caves Road,
Andheri [East], Mumbai – 400093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
31.05.1974 |
|
|
|
|
Com. Reg. No.: |
11-17505 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L36912MH1974PLC017505 |
|
|
|
|
IEC No.: |
0388092734 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS37140F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACS8558C |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are
listed on the Stock Exchange. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of 18K High Quality Diamond Studded
Jewellery |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. Business is active. No complaints have been heard. It would be advisable to take adequate securities while dealing with
the subject. No Latest Valuation Report has been provided. |
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. Ajay R. Gehani |
|
Designation : |
Managing Director |
|
Date : |
17.02.2011 |
LOCATIONS
|
Registered Office / Factory : |
Sovereign House, 11-A, Mahal Industrial Estate, Mahakali caves Road,
Andheri [East], Mumbai – 400093, |
|
Tel. No.: |
91-22-26870537 / 66923871 / 72 / 73 / 74 |
|
Fax No.: |
91-22-26870530 / 26870540 / 66923880/ 22671931 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
15000 sq./ ft. [Owned] |
DIRECTORS
|
Name : |
Mr. Ramesh Hotchand Gehani |
|
Designation : |
Executive Director |
|
Address : |
102, Rambha, Petit Hall, |
|
Date of Birth/ Age: |
14.02.1933 |
|
Qualification: |
B.Com |
|
Experience: |
35 Years |
|
|
|
|
Name : |
Mr. Ajay R. Gehani |
|
Designation : |
Managing Director |
|
Address : |
92, Rambha, Petit Hall, |
|
Date of Birth/ Age: |
18.05.1966 |
|
Qualification : |
B. Com. , Gemologist GIA |
|
Experience: |
26 Yeas |
|
|
|
|
Name : |
Mr. Vijay G. Kalantri |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mohanram Pai |
|
Designation : |
Director |
KEY EXECUTIVES
|
Audit Committee : |
|
|
|
|
|
Shareholders/ Investors Grievance Committee: |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Category
of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,746,071 |
47.44 |
|
|
2,746,071 |
47.44 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2,746,071 |
47.44 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
171,300 |
2.96 |
|
|
171,300 |
2.96 |
|
|
|
|
|
|
481,553 |
8.32 |
|
|
|
|
|
|
1,690,346 |
29.20 |
|
|
683,471 |
11.81 |
|
|
15,261 |
0.26 |
|
|
10,565 |
0.18 |
|
|
4,696 |
0.08 |
|
2,870,631 |
49.60 |
|
|
Total Public shareholding
(B) |
3,041,931 |
52.56 |
|
Total (A)+(B) |
5,788,002 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
5,788,002 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of 18K High Quality Diamond Studded
Jewellery |
||||||||
|
|
|
||||||||
|
Products : |
Rings, Bracelets, Pendants, Necklaces, Ear Ring Pairs |
||||||||
|
|
|
||||||||
|
Brand Names : |
‘Sovereign Jewellery’ |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit [30 / 60 / 90 days] |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit [30 days] |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
|
|
Actual
Production |
|
|
|
|
|
|
|
Gold Jewellery studded with Diamonds / stones |
Pieces |
|
|
2148 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Krunal Enterprises |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
·
Ronak Gems (Private) Limited ·
Azure Diamonds ·
Dhruv Impex ·
Lalchand Jewellers ·
Sterling Gems ·
Schager and Company ·
Anmol Jewellers ·
ANS Jewellery ·
Bholasoons ·
Diamantian Fine Jewelles LLP ·
Gala Brothers Diamond Jewellery ·
Gehna Jewellers Private Limited ·
Notandas Jewellers Private Limited ·
Gomez and Molna ·
Succesores Simon Fransco ·
·
De- Vroe Bart |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Approximately 60 (In Factory) |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Corporation Bank, Overseas Branch, Nariman Point, Mumbai – 400021 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
J. D. Zatakia and Company Chartered Accountants |
|
Address : |
306, |
|
Tel. No.: |
91-22-65201216 / 65201225/ 25011051 |
|
Fax No.: |
91-22-25010766 |
|
E-Mail : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5788002 |
Equity Shares |
Rs. 10/- each |
Rs. 57.880
millions |
|
|
|
|
|
Out of which 300000 Equity Shares of Rs. 10/- each
issued as fully paid up by way of Bonus shares capitalized from General
Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
57.880 |
57.880 |
57.880 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.792 |
10.567 |
11.282 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
68.672 |
68.447 |
69.162 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
35.358 |
40.173 |
31.688 |
|
|
2] Unsecured Loans |
2.078 |
3.169 |
2.735 |
|
|
TOTAL BORROWING |
37.436 |
43.342 |
34.423 |
|
|
DEFERRED TAX LIABILITIES |
0.461 |
0.756 |
1.062 |
|
|
|
|
|
|
|
|
TOTAL |
106.569 |
112.545 |
104.647 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.965 |
21.056 |
18.887 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
40.260
|
52.912 |
44.652
|
|
|
Sundry Debtors |
59.389
|
53.718 |
52.996
|
|
|
Cash & Bank Balances |
0.316
|
0.279 |
0.515
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
6.953
|
5.997 |
6.811
|
|
Total
Current Assets |
106.918
|
112.906 |
104.974
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.836
|
12.930 |
10.948
|
|
|
Other Current Liabilities |
4.303
|
3.612 |
4.516
|
|
|
Provisions |
5.175
|
4.875 |
3.750
|
|
Total
Current Liabilities |
19.314
|
21.417 |
19.214
|
|
|
Net Current Assets |
87.604 |
91.489 |
85.760 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
106.569 |
112.545 |
104.647 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127.823 |
171.252 |
127.762 |
|
|
|
Other Income |
0.222 |
0.470 |
1.904 |
|
|
|
TOTAL (A) |
128.045 |
171.722 |
129.666 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
81.753 |
116.943 |
90.427 |
|
|
|
Consumption of Tools and Spares |
3.201 |
3.875 |
0.953 |
|
|
|
Expenses |
28.810 |
41.649 |
33.015 |
|
|
|
Increase / Decrease in Stock |
6.302 |
0.522 |
[1.345] |
|
|
|
TOTAL (B) |
120.066 |
162.989 |
123.050 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.979 |
8.733 |
6.616 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.583 |
5.506 |
2.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.396 |
3.227 |
3.756 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.167 |
3.128 |
2.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.229 |
0.099 |
1.135 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.005 |
[0.814] |
0.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.224 |
[0.715] |
0.465 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.868 |
6.583 |
6.118 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.092 |
5.868 |
6.583 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
45.391 |
45.784 |
85.873 |
|
|
TOTAL EARNINGS |
45.391 |
45.784 |
85.873 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.798 |
1.978 |
4.733 |
|
|
TOTAL IMPORTS |
0.798 |
1.978 |
4.733 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.04 |
-- |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
31.560 |
51.420 |
52.340 |
|
Total Expenditure |
29.000 |
48.430 |
47.310 |
|
PBIDT (Excl OI) |
2.560 |
2.990 |
5.030 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
2.560 |
2.990 |
5.030 |
|
Interest |
1.100 |
1.280 |
1.440 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1.460 |
1.710 |
3.590 |
|
Depreciation |
0.530 |
0.670 |
0.910 |
|
Profit Before Tax |
0.930 |
1.140 |
2.680 |
|
Tax |
0.300 |
0.000 |
0.750 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
0.630 |
1.140 |
1.930 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
0.630 |
1.140 |
1.930 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.17
|
[0.42] |
0.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.18
|
0.06 |
0.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.18
|
0.07 |
0.92
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.83
|
0.95 |
0.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.54
|
5.27 |
5.46
|
LOCAL AGENCY FURTHER INFORMATION
DUE
DILIGENCE REPORT
BACKGROUND INFORMATION
|
Year of Establishment |
1974 |
|
|
|
|
Registration/ Affiliations (Any change in promoters’ registration / Affiliations) |
Company Name Changed |
BUSINESS ACTIVITIES
|
Profile (Nature of Activity) |
Manufacturer |
|
|
|
|
Products: |
Diamond Studded Gold Jewellery |
PERSONAL ASSETS OF THE
DIRECTORS:
|
Name |
Description of the Assets owned by them |
|
Mr. Ramesh Gehani |
Car and House |
|
|
|
|
Mr. Ajay Gehani |
Car and House |
INSURANCE DETAILS
|
Unit’s Assets
Covered |
Policy No./
Cover Note |
Validity |
Sum Assured |
Risk Covered |
|
Property on the Premises |
140104/ 46/ 09/ 45/0000025 |
27.01.2010 to 26.01.2011 |
Rs. 46.000 Millions |
Earthquake, FST and Terrorism |
|
Cash and Currency and Bank Locker |
140104/ 11/ 10/ 11/ 00000496 |
19.08.2010 to 18.08.2011 |
Rs. 26.000 Millions |
Fire and Shock |
STATEMENT
OF ASSETS AND LIABILITIES
MR. AJAY
RAMESH GEHANI
(Director)
|
TOTAL ASSETS |
RS. 7.365
MILLIONS |
|
TOTAL ASSETS |
RS. 3.765
MILLIONS |
|
TOTAL ASSETS |
RS. 3.600
MILLIONS |
MR. AJAY
RAMESH GEHANI
(Director)
BALANCE
SHEET
As
on 31.03.2009
Rs.
in Millions)
|
LIABILITIES |
Amount |
ASSETS |
Amount |
|
Capital Account |
3.600 |
P.P.F. |
|
|
LIC Loan |
0.0670 |
Opening Balance |
0.234 |
|
|
|
Contribution |
0.070 |
|
Creditors |
|
Interest |
0.019 |
|
Ghansyam J. Shewakramani |
0.281 |
|
0.323 |
|
Padma N Jiwanani |
0.850 |
|
|
|
Ramesh H Gehani |
0.547 |
Remuneration Receivables |
0.047 |
|
Rani Ramesh Gehani |
1.821 |
HRA Receivables |
0.070 |
|
Sanjay Gehani |
0.025 |
Flat (Petit Hall) |
0.086 |
|
Universal Estate |
0.174 |
Rambha (Petit Hall) Deposits |
0.020 |
|
|
|
Hotchand Hiranand |
0.119 |
|
|
|
Jewellery |
0.027 |
|
|
|
Ras Family Trust |
1.384 |
|
|
|
Share in Air Conditioner Plant |
0.017 |
|
|
|
Share in Co. Ownership Property at
|
0.167 |
|
|
|
UTI Master Shares |
0.010 |
|
|
|
SBI Tax Savings Fund |
0.030 |
|
|
|
Debtors |
0.217 |
|
|
|
Investment in Shares |
4.708 |
|
|
|
Corporation Bank |
0.009 |
|
|
|
Bank of |
0.004 |
|
|
|
ICICI Limited |
0.017 |
|
|
|
Corporation Bank ( |
0.019 |
|
|
|
Axis Bank |
0.013 |
|
|
|
Cash on hand |
0.079 |
|
|
|
|
|
|
|
7.365 |
|
7.365 |
CAPITAL
ACCOUNT FOR THE YEAR ENDED 31.03.2009
(Rs.
in Millions)
|
Particulars |
Amount |
Particulars |
Amount |
|
To TDS (Remuneration) |
0.180 |
By Balance B/d |
3.619 |
|
To Demat Charges |
0.001 |
|
|
|
To Income Tax |
0.001 |
By Remuneration |
0.507 |
|
To Bank Charges |
0.000 |
|
|
|
To Society Maintenance |
0.132 |
By HRA |
0.413 |
|
To Electricity Expenses |
0.083 |
|
|
|
To Mediclaim Insurance |
0.033 |
By Bank Interest |
0.003 |
|
To Drawings |
0.214 |
|
|
|
To Donation |
0.025 |
By Dividend |
0.003 |
|
To L.I.C Premium |
0.293 |
|
|
|
To Share of Loss From |
|
By P.P.F Interest |
0.019 |
|
- M/s Universal Estate |
0.000 |
|
|
|
- M/s Hotchand Hiranand |
|
|
|
|
A.Y. 2008-09 |
0.001 |
|
|
|
A.Y. 2009-10 |
0.001 |
|
|
|
|
|
|
|
|
To Balance C/f |
3.600 |
|
|
|
|
|
|
|
|
|
4.563 |
|
4.563 |
VALUATION
REPORT
|
GENERAL
QUESTIONNAIRE |
|
|
Purpose for which valuation made |
To assess the ‘realisable value’ of the said property for the purpose
of reassessing the value of assets of the owners. |
|
|
|
|
Date on which valuation made |
15.07.2008 |
|
|
|
|
Name of the owner/ owners |
Soverign Diamonds Limited (formerly known as Hotchand Hiranand Private
Limited |
|
|
|
|
If the property is under Joint ownership/ co-ownership, share of each
owner. Is the share undivided |
A Limited company having its registered / administered office at Mumbai |
|
|
|
|
Location, Street, Ward No. Survey/ Plot No. of Land |
The said property comprises industrial premises situated at Plot No.
11-A, Mahal Industrial Estate, Bearing S. No. 78, C.T.S No. 46/26, of Village
Mulgaon, off Mahakali Caves Road, Andheri (East), Mumbai Suburban District
and bounded as follows; On or towards the North: by Plot No. 11-B, On or towards the East: by 33’ Road, On or towards the South: by Plot No. 10 and 33’ Road On or towards the West: by a wall to the height of About 7.62 mt. as boundary to plot No. 12 |
|
|
|
|
Is the property situated in residential/ commercial/ mixed/ industrial
area |
Industrial are located at about 3km – 4km form Andheri railway station,
at about 2 km – 3km distance from the international airport |
|
|
|
|
Classification of locality- high class/ middle class/ poor class |
Middle Class |
|
|
|
|
Proximity to civic amenities like schools, offices, hospitals,
markets, cinemas etc. |
Available at about 2 km- 3km distance |
|
|
|
|
Means and proximity to surface communication by which the locality is
served |
Autos, buses, taxis and suburban railway services available. |
|
|
|
|
LAND |
|
|
Area of land supported by documentary proof shape dimension and
physical features |
Industrial Premises having land admeasuring about 1195 sq.m. (as per
pr.r Card) and factory building/ structure admeasuring about 13500 sq.ft.
including additions/ extensions |
|
|
|
|
Roads or lanes on which land is abutting |
Off Mahakali caves road |
|
|
|
|
Is it free-hold or lease land |
Freehold |
|
|
|
|
Does the land fall in area included in Town planning scheme or any development
of Government or any statutory body? If so, give particulars |
Falls within limits of MCGM |
|
|
|
|
IMPROVEMENTS |
|
|
a)Is the building owner occupied, tenant, or both b) If partly occupied, specify portion and extent of area under owner occupation |
Industrial premises wholly owned by the owner and presently being used
for conducting their business. |
|
|
|
|
What is F.S.I. permissible and percentage actually utilized? |
F.S.I. permissible- 1.00 |
|
|
|
|
RENTS |
|
|
Give details of water and electricity charges if any to be borne by
the owner |
Borne by owners |
|
|
|
|
If the lift is installed, who has to bear the cost of maintenance and
operation? |
Maintained by owners |
|
|
|
|
If a pump is installed, who has to bear the cost of maintenance and
operation? |
Maintained by owners |
|
|
|
|
Who has to bear the cost of electricity for lighting of common space
like entrance, hall, stairs, passages, compounds etc. |
Maintained by owners |
|
|
|
|
What is the amount of property tax? Who has to bear it? Give details
with documentary proof |
Maintenance inclusive of all taxes borne by owners. |
|
|
|
|
COST OF
CONSTRUCTION |
|
|
Year of Commencement of construction and year of completion |
1977-78 (renovated recently) |
TECHNICAL
DETAILS FOR THE PREMISES
|
No. of floor and height of each floor |
Ground +2 (part) upper floors having additional floor height. |
|
|
|
|
Plinth area- Floor-wise (as per is 3861-1966) |
Industrial premises having land admeasuring about 1195 sq.m (as per P
R Card) and factory building/ structure admeasuring about 13500 sq.ft.
including additional / extensions. |
|
|
|
|
Year of Construction |
1977-78 (renovated recently) |
|
|
|
|
Estimated future Life |
About 25 years with property maintenance |
|
|
|
|
Type of Construction- load bearing walls/ R.C.C. frame/ steel frame |
R.C.C. Framed |
|
|
|
|
Type of Foundation |
R.C.C. |
|
|
|
|
WALLS |
|
|
a) Basement and Plinth |
9” thick brick masonry |
|
b) Ground Floor |
9” thick brick masonry |
|
c) Super Structure Above |
9” thick brick masonry |
|
d) Partitions |
9” thick brick masonry |
|
|
|
|
Door and Windows (Floor-wise) |
Wooden/ aluminum frame glazed partitions and doors and wooden frame
glazed windows |
|
|
|
|
Flooring (floor –wise) |
Polished |
|
|
|
|
Finishing (floor-wise) |
Sandface cement plaster with paint finish externally and neeru cement
plaster with paint finish internally |
|
|
|
|
Roofing and terracing |
Flat roof |
|
|
|
|
a) Internal wiring- surface or conduit |
Conduit wiring |
|
b) Class of fittings superior/ ordinary/ poor |
|
|
|
|
|
Compound Wall |
Masonry walls provided with gates |
|
|
|
|
No. of lifts and capacity |
One |
|
|
|
|
Underground sump |
Provided |
|
1. Capacity |
As per MCGM regulations |
|
2. Type of construction |
R.C.C. |
|
|
|
|
Overhead Tank |
Provided |
|
|
|
|
Where located |
On terrace |
|
|
|
|
Capacity |
As per MCGM regulations |
|
|
|
|
Type of construction |
Sintex |
|
|
|
|
Pumps No. and their horse power |
Provided of adequate capacity |
|
|
|
|
Roads and paving within the compound, approx area, type of paving |
Concrete paving |
|
|
|
|
Sewage disposal/ whether connected to public sewers. If septic tanks provided,
no and capacity |
Connected to public sewer. |
VALUATION
REPORT
Under instructions from the clients, they visited the property situated at
plot no.11-A, Mahal Industrial Estate, off Mahakali Caves Road, Andheri (E),
Mumbai - 400 093, owned by MIs. Sovereign Diamonds Limited (formerly known as
M/s. Hotchand Hiranand Private Limited.). The purpose of the visit was to
inspect the said property so as to assess the ‘realisable value’ as on
15.07.2008 and thus prepare its valuation report for the purpose of reassessing
the value of assets of the owners.
The ‘realisable value’ of any immovable property is the warranted price
expressed in terms of money which the said property is estimated to bring, at
any given time and place, where buyers and sellers act without compulsion and
with full knowledge of all the uses to which the property is adapted and for
which it is capable of being used. The warranted price is further contingent on
the sellers ability to convey title with all rights inherent in the property
and allowing sufficient time for the transaction to mature normally under cash
or cash equivalent terms of sale”.
Description : The said property
comprises of industrial premises having land admeasuring about ll95sqm. (as per
P. R. Card) and factory building/structure which is ground + 2 (part) upper
floors, r.c.c. framed structure, having adequate floor height, admeasuring
about 13,500sqf. including additions/extensions. The building was constructed
i,n 1977-78 (renovated recently). The premises is provided with polished kota
flooring on the ground floor, granite stone and ceramic tiles flooring on the
first floor and p.c.c. flooring on the second floor and stone/glazed tiles in
toilet blocks provided within the said premises. The masonry walls plastered
and painted on both sides have been provided with sufficient number of wooden
aluminium frame glazed partitions and doors and wooden frame glazed windows for
proper light and ventilation.
Location : The said property
is situated in a industrial area, located at about 3km-4km from Andheri railway
station. at about 2km-3km distance from the international airport.
Amenities : All the basic
infrastructural facilities like roads, power, water and telecommunication have
been provided for, with civic amenities like schools, markets, hospitals,
hotels and banks available at about lkm-2km distance and public modes of
transport like autos, buses, taxis and suburban railway services being
available.
The ‘realisable value’ of the said property has thus been assessed based
on local enquires using “market value” method & taking into account the
factors mentioned as above and briefly listed below:
A) Extent and Survey Number.
B) Location, accessibility, distance from the centre of the town.
C) Developments - infrastructure, compound wall, drainage, paving, etc.
D) Market value of land - as estimated by local enquiries
E) Building - type of construction, age, future life, depreciation
F) Dues/Outgoings - presently borne by the owner.
‘The ‘realisable
value’ of the said property has been worked out as under:
1) The value of
land including cost of site development;
1195 sqm @ Rs.
100000/ sqm = Rs. 119.500 Millions
2) The value of
building with additions/extensions taking into account depreciation;
13500sqf. @
Rs.300/sqf.-= Rs. 4.050 Millions
Total = Rs.
135.550 Millions
OPERATING STATEMENT
Rs in Millions
|
Particulars |
31.03.2011 (Current Year
Estimated) |
31.03.2012 (Next Year
Projections) |
|
|
|
|
|
1. Gross
Sales |
|
|
|
Sales – Domestic |
160.000 |
200.000 |
|
Sales – Export |
30.000 |
50.000 |
|
Operating Income |
0.000 |
0.000 |
|
|
190.000 |
250.000 |
|
2. Less : Excise Duty |
0.000 |
0.000 |
|
3. Net Sales [1-2] |
190.000 |
250.000 |
|
4. % wise [+] or fall [-] in net sales as compared to
previous year |
48.64% |
31.58% |
|
|
|
|
|
5.
COST OF SALES |
|
|
|
i]
Raw Materials [Including stores and other items used in the process of
manufacture] |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
[b] Indigenous |
142.060 |
183.600 |
|
ii]
Other Spares |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
[b] Indigenous |
4.000 |
5.000 |
|
iii] Purchase of finished goods |
0.000 |
0.000 |
|
iv] Power and Fuel |
1.500 |
1.900 |
|
v] Direct labour |
7.500 |
9.000 |
|
vi] Other Manufacturing Expenses |
0.000 |
0.000 |
|
vii] Depreciation |
3.000 |
2.900 |
|
SUB
TOTAL [i to vii] |
158.060 |
202.400 |
|
|
|
|
|
viii] Add : Opening Stocks – in – process |
0.000 |
0.000 |
|
Sub Total |
158.060 |
202.400 |
|
ix] Deduct : Closing Stock – in – Process |
0.000 |
0.000 |
|
x]
Cost of production |
158.060 |
202.400 |
|
|
|
|
|
xi] Add : Opening Stock of finished goods |
11.540 |
24.200 |
|
|
|
|
|
xii] Deduct: Closing Stock – in - finished goods |
24.200 |
32.400 |
|
|
|
|
|
Cost
of Sales |
145.400 |
194.200 |
|
|
|
|
|
6. GROSS PROFIT |
44.600 |
55.800 |
|
GROSS PROFIT / SALES IN % |
23.47% |
22.32% |
|
|
|
|
|
7. Selling general and administrative expenses |
34.000 |
41.000 |
|
|
|
|
|
8. Operation profit before interest [3-7] |
10.600 |
14.800 |
|
|
|
|
|
9. Interest to Bank and Others |
6.000 |
8.000 |
|
|
|
|
|
10. Operating profit after interest [8-9] |
4.600 |
6.800 |
|
|
|
|
|
11. i] Add : other non-operating income |
|
|
|
Other Income |
0.300 |
0.400 |
|
Sub-total [Income] |
0.300 |
0.400 |
|
ii] Deduct other non-operating expenses |
|
|
|
Others |
0.000 |
0.000 |
|
Sub
total [Expenses] |
0.000 |
0.000 |
|
|
|
|
|
iii] Net of other non-operating income / expenses |
0.300 |
0.400 |
|
|
|
|
|
12. Profit before tax / Loss [10+11[iii]] |
4.900 |
7.200 |
|
|
|
|
|
13. Provision for taxes |
1.666 |
2.448 |
|
|
|
|
|
14. Net profit / loss [12-13] |
3.234 |
4.752 |
|
Net Profit / Sales Ratio |
1.70% |
1.90% |
|
|
|
|
|
15 [a] Withdrawls / Drawings |
0.000 |
0.000 |
|
[b] Tax on earlier years |
0.000 |
0.000 |
|
|
0.000 |
0.000 |
|
|
|
|
|
16. Retained profit [14-15] |
3.234 |
4.752 |
|
|
|
|
|
Retained profit / Net profit [%] |
100% |
100% |
|
|
|
|
|
17. Cash Accruals |
6.234 |
7.652 |
ANALYSIS OF
BALANCE SHEET
[Rs in Millions]
|
Particulars |
31.03.2011 (Current Year
Estimated) |
31.03.2012 (Next Year
Projections) |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
01 Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
From applicant bank |
60.000 |
80.000 |
|
From other banks |
0.000 |
0.000 |
|
[of which BP and BD] |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total [A] |
60.000 |
80.000 |
|
|
|
|
|
02 Short Term Borrowings from others |
0.000 |
0.000 |
|
03 Sundry creditors [Trade] |
14.800 |
19.100 |
|
04 Advance payments from customers / Deposits from dealers
|
2.000 |
1.500 |
|
05 Provision for tax [net of Tax paid] |
1.666 |
2.448 |
|
06 Dividend and Dividend Tax payable |
0.000 |
0.000 |
|
07 other statutory liabilities [due within one year] |
0.000 |
0.000 |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
0.595 |
0.217 |
|
09 Other current liabilities and provisions [due within
one year] |
2.000 |
2.000 |
|
|
|
|
|
Sub – Total [B] |
21.061 |
25.265 |
|
10 TOTAL
CURRENT LIABILITIES [Total of 1 to 9] |
81.061 |
105.265 |
|
TERM
LIABILITIES |
|
|
|
11 Debentures [not maturing within one year] |
0.000 |
0.000 |
|
12 Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
|
13 Term loans [excluding installments payable within
one year] |
0.528 |
0.311 |
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
0.200 |
0.000 |
|
15 Term deposit [repayable after one year] |
0.000 |
0.000 |
|
16 other Term Liabilities (Quasi Equity) |
0.000 |
0.000 |
|
16a. other Term Liabilities |
2.000 |
2.000 |
|
17
TOTAL TERM LIABILITIES [Total
of 11 to 16] |
2.728 |
2.311 |
|
18
TOTAL OUTSIDE LIABILITIES [10 + 17] |
83.789 |
107.576 |
|
|
|
|
|
NET
WORTH |
|
|
|
19 Capital Account |
57.880 |
57.880 |
|
20 General Reserve |
3.688 |
3.688 |
|
21 Revaluation Reserve |
0.000 |
0.000 |
|
22 Other Reserves [Excluding provisions] |
1.010 |
1.010 |
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
9.327 |
14.079 |
|
23a Share Premium |
0.000 |
0.000 |
|
23b Share application money |
0.000 |
0.000 |
|
|
|
|
|
24
NET WORTH [19+23] |
71.905 |
76.657 |
|
25
TOTAL LIABILITIES [18+24] |
155.694 |
184.233 |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
26 Cash and Bank Balance |
0.463 |
0.670 |
|
27 Investments [Other than long term investments]
Government and other Trustee securities |
0.000 |
0.000 |
|
i] Government and other trust sec |
0.000 |
0.000 |
|
ii] Fixed deposit with bank |
0.000 |
0.000 |
|
Iii] Share with Co-operative Bank |
0.000 |
0.000 |
|
|
|
|
|
28 Receivables |
60.000 |
66.700 |
|
I] Domestic Receivables other than deferred and exports [Including
bills purchased and discounted by banks] |
50.000 |
54.200 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
10.000 |
12.500 |
|
29 Instalments of Deferred receivables [due within
one year] |
0.000 |
0.000 |
|
30 Inventory |
72.600 |
94.850 |
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
47.400 |
61.200 |
|
Imported |
0.000 |
0.000 |
|
Indigenous |
47.400 |
61.200 |
|
II] Stock – in – process |
0.000 |
0.000 |
|
II] Finished Goods |
24.200 |
32.400 |
|
IV] Other consumable spares |
1.000 |
1.250 |
|
Imported |
0.000 |
0.000 |
|
Indigenous |
1.000 |
1.250 |
|
31 Advances recordable in Cash or kind |
0.000 |
0.000 |
|
32 Advance payment of taxes [NET] |
1.666 |
2.448 |
|
33 Other current assets |
2.000 |
2.500 |
|
|
|
|
|
34
TOTAL CURRENT ASSETS [Total of 26 to 33] |
136.729 |
167.168 |
|
FIXED
ASSETS |
|
|
|
35 Gross Block |
59.043 |
60.043 |
|
36. Depreciation to date |
41.078 |
43.978 |
|
|
|
|
|
37 NET
BLOCK [35-36] |
17.965 |
16.065 |
|
|
|
|
|
OTHER
NON – CURRENT ASSETS |
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
0.000 |
0.000 |
|
I] [a] Others Investments in Subsidiary |
0.000 |
0.000 |
|
[b] Others companies / affiliates |
0.000 |
0.000 |
|
II] Advances to suppliers of capital goods and contractors
|
0.000 |
0.000 |
|
III} Deferred receivables [maturity exceeding one year] |
0.000 |
0.000 |
|
IV] Book Debts more than 6 months |
0.000 |
0.000 |
|
V] Investments |
|
|
|
Trade |
0.000 |
0.000 |
|
Non-Trade |
0.000 |
0.000 |
|
VI] Others |
0.000 |
0.000 |
|
39 Non consumables Stores and Spares |
0.000 |
0.000 |
|
40 Other non – current assets including dues from
directors |
1.000 |
1.000 |
|
|
|
|
|
41
TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40] |
1.000 |
1.000 |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.000 |
0.000 |
|
|
|
|
|
43
TOTAL ASSETS [Total
of 34, 37, 41 and 42] |
155.694 |
184.233 |
|
44
TANGIBLE NET WORTH [24-22] |
71.905 |
76.657 |
|
45
NET WORKING CAPITAL |
55.668 |
61.903 |
|
[17 + 24]-[37+41+42] |
55.668 |
61.903 |
|
to tally with [34-10] |
|
|
|
|
|
|
|
46
Current Ratio [Items 34/10] |
1.69 |
1.59 |
|
|
|
|
|
47.
Total Outside Liabilities / Tangible Net Worth |
1.17 |
1.40 |
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
Rs in Millions
|
Particulars |
31.03.2011 (Current Year
Estimated) |
31.03.2012 (Next Year
Projections) |
|
|
|
|
|
A CURRENT ASSETS |
|
|
|
1 Raw Materials |
47.400 |
61.200 |
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
|
|
|
[b] Indigenous |
47.400 |
61.200 |
|
Months Consumption |
4.00 |
4.00 |
|
|
|
|
|
2 Other consumable spares |
1.000 |
1.250 |
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
|
|
|
[b] Indigenous |
1.000 |
1.250 |
|
Months Consumption |
3.00 |
3.00 |
|
|
|
|
|
3 Stock in process |
0.000 |
0.000 |
|
Months cost of production |
0.000 |
0.000 |
|
|
|
|
|
4 Finished goods |
24.200 |
32.400 |
|
Months cost of sales |
2.00 |
2.00 |
|
|
|
|
|
5 Domestic Receivable |
50.000 |
54.200 |
|
Months domestic sales |
3.75 |
3.25 |
|
[excluding deferred payment sales] |
|
|
|
|
|
|
|
6 Export receivables [including bills
purchased and discounted by bankers months export sales] |
10.000 |
12.500 |
|
Months domestic sales |
4.00 |
3.00 |
|
[excluding deferred payment sales] |
|
|
|
|
|
|
|
7 Advances to suppliers of raw materials and
stores / spares consumable |
0.000 |
0.000 |
|
|
|
|
|
8 Other current Assets including cash and bank
balances and deferred receivable due within one year |
42.29 |
56.18 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
136.729 |
167.168 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
10 Creditors for purchases of raw materials
and stores and consumable spares |
14.800 |
19.100 |
|
Months Consumption |
1.25 |
1.25 |
|
|
|
|
|
11 Advances from customers |
2.000 |
1.500 |
|
|
|
|
|
12 Statutory liabilities |
0.000 |
0.000 |
|
|
|
|
|
13 Other current liability including short
term borrowing dividend payable, installment of DPG public deposit,
debentures etc |
4.261 |
4.665 |
|
Unsecured loans |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
|
Provision for tax |
1.666 |
2.448 |
|
Installments of Term Loans/ DPG Public
Deposits/ Debentures |
0.595 |
0.217 |
|
Other Liabilities |
2.000 |
2.000 |
|
|
|
|
|
14 TOTAL |
21.061 |
25.265 |
FUND FLOW
STATEMENT
Rs in Millions
|
Particulars |
31.03.2011 (Current Year
Estimated) |
31.03.2012 (Next Year
Projections) |
|
|
|
|
|
1 SOURCES |
|
|
|
[a] Net Profit [after tax] |
3.234 |
4.752 |
|
[b] Depreciation |
|
|
|
I] Debited in P and L A/c |
3.000 |
2.900 |
|
ii] Capitalized During the |
-- |
-- |
|
[c] Increase in Capital |
0.000 |
0.000 |
|
[d] Increase in Term Liabilities (Including Public Deposits)
(Break-ups as below) |
|
|
|
i) Term Loans |
0.122 |
0.000 |
|
ii) Unsecured Loans |
0.000 |
0.000 |
|
iii) Others term Liabilities |
0.000 |
0.000 |
|
[e] Decrease in |
|
|
|
i) Fixed Assets |
0.000 |
0.000 |
|
ii) Other Non- Current Assets |
0.000 |
0.000 |
|
[f] Others |
|
|
|
i) Interest and Remuneration |
0.000 |
0.000 |
|
ii) Share application money |
0.000 |
0.000 |
|
iii) Premium on Equity Capital |
0.000 |
0.000 |
|
|
|
|
|
[g]
TOTAL |
6.356 |
7.652 |
|
|
|
|
|
2
USES |
|
|
|
[a] Net Loss |
0.000 |
0.000 |
|
[b] Decrease in Term Liabilities [Including A Closely Held Public Limited
Liability Company Deposits] |
|
|
|
- Term Loan |
0.000 |
0.217 |
|
- Unsecured Loans |
0.000 |
0.000 |
|
- Other Term Liabilities |
0.339 |
0.200 |
|
[c] Increase in |
|
|
|
Fixed Assets [Net] |
2.000 |
1.000 |
|
Other Non – current assets |
0.348 |
0.000 |
|
[d] Withdrawals |
0.000 |
0.000 |
|
[e] Others |
|
|
|
i) Intangible assets |
0.000 |
0.000 |
|
ii) Tax for earlier years |
0.000 |
0.000 |
|
Total
|
2.687 |
1.417 |
|
|
|
|
|
3 Long – Term Surplus [+] / Deficit [-] [Item 1 minus Item
2] |
3.669 |
6.235 |
|
|
|
|
|
4 Increase / Decrease in Current Assets [As per details
given below] |
30.463 |
30.439 |
|
|
|
|
|
5 Increase / Decrease in Current Liabilities other than
bank borrowings. |
0.746 |
4.204 |
|
|
|
|
|
6 Increase / Decrease in Working Capital Gap |
29.717 |
26.235 |
|
|
|
|
|
7 Net Surplus [+] / Deficit [-] [Difference of 3 & 6] |
[26.048] |
[20.000] |
|
|
|
|
|
8 Increase / Decrease in Bank Borrowings |
26.048 |
20.000 |
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
|
|
|
|
|
|
|
BREAK
UP OF [4] |
|
|
|
[i] Increase / Decrease in raw Materials |
19.322 |
13.800 |
|
|
|
|
|
[ii] Increase / Decrease stock – in – process |
0.000 |
0.000 |
|
|
|
|
|
[iii] Increase / Decrease in Finished goods |
12.660 |
8.200 |
|
|
|
|
|
[iii] Increase / Decrease in Receivables |
|
|
|
[a] Domestic |
5.927 |
4.200 |
|
[b] Exports |
[5.316] |
2.500 |
|
|
|
|
|
[v] Increase / Decrease in Store and Spares |
0.358 |
0.250 |
|
|
|
|
|
[vi] Increase / Decrease in other Current Assets |
[2.488] |
1.489 |
|
|
|
|
|
Total
|
30.463 |
30.439 |
COMPUTATION OF MAXIMUM PERMISSIBLE
BANK FINANCE FOR WORKING CAPITAL
Rs in Millions
|
Particulars |
31.03.2011 (Current Year
Estimated) |
31.03.2012 (Next Year
Projections) |
|
|
|
|
|
1. Total Current Assets |
136.729 |
167.168 |
|
|
|
|
|
2. Total Current Liabilities [Other than bank borrowings] |
21.061 |
25.265 |
|
|
|
|
|
3. working capital Gap |
115.668 |
141.903 |
|
|
|
|
|
4. Min Stipulated
Net Working Capital i.e. 25 % of WCG / 25 % of total current assets as the case
may be depending upon the method lending being applied |
31.682 |
38.667 |
|
|
|
|
|
5. actual / projected net working capital |
55.668 |
61.903 |
|
|
|
|
|
6. Item 3 minus item 4 |
83.986 |
103.236 |
|
|
|
|
|
7. Item 3 minus item 5 |
60.000 |
80.000 |
|
|
|
|
|
8. Maximum permissible bank finance [item 6 or 7 whichever is lower ] |
60.000 |
80.000 |
|
|
|
|
|
9. Excess borrowing reprehensive shortfall in NWC [4-5] |
0.000 |
0.000 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
WORKING OF THE
COMPANY
During the yearthe company has achieved turnover of Rs.127.823 Millions
as against Rs.171.252 Millions in the previous year. The increase in turnover
is due to fluctuation in Dollar rate. The Company is entering into the Indian
Jewellery Retail Market and supplying to big jewellery stores in Metro cities.
This will results in higher turnover for the Company.
Trade Reference
- Vaghasiya
Exports, Mumbai
Contact Person: Pankaj Bhai (
91-22-23684453/ 52)
- Ronak Gems –
Mumbai
Contact Person: Mr. Bankim Bhat
(91-22-23669617/ 23669618)
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2010
(Rs.
in Millions)
|
Particulars |
3
Months Ended 30.09.2010 |
6
Months Ended 30.09.2010 |
|
|
(Unaudited) |
(Unaudited) |
|
1 (a) Net Sales/ Income from Operations |
51.492 |
83.012 |
|
(b) Other Operating Income |
[0.073] |
0.065 |
|
|
51.419 |
83.077 |
|
2. Expenditure |
|
|
|
a. Increase/ Decrease in stock in trade and work in progress |
[2.579] |
2.536 |
|
b. Consumption of raw materials |
41.948 |
57.726 |
|
c. Purchase of traded goods |
0.226 |
0.751 |
|
d. Employee Cost |
3.222 |
5.965 |
|
e. Depreciation |
0.669 |
1.200 |
|
f. Other Expenditure |
5.516 |
11.325 |
|
g. Total |
49.002 |
79.503 |
|
(Any item exceeding 10% of the total expenditure to be shown
separately) |
|
|
|
3. Profit from operations before other income, interest and
Exceptional item (1-2) |
2.417 |
3.574 |
|
4. Other Income |
-- |
-- |
|
5. Profit before Interest and Exceptional Items (3+4) |
2.417 |
3.574 |
|
6. Interest |
1.279 |
2.371 |
|
7. Profit after Interest but before Exceptional Item (5-6) |
1.138 |
1.203 |
|
8. Exceptional Item |
-- |
-- |
|
9. Profit/ Loss form Ordinary Activities after tax (9-10) |
1.138 |
1.203 |
|
10. Tax Expenses |
|
|
|
Income Tax |
0.000 |
0.000 |
|
Fringe Benefit Tax |
0.000 |
0.000 |
|
11. Net Profit/ Loss from Ordinary Activities after tax (9-10) |
1.138 |
1.203 |
|
12. Extraordinary Item (Net of expenses Rs.) |
0.000 |
0.000 |
|
13. Net Profit/ Loss for the period (11-12) |
1.138 |
1.203 |
|
14. Paid-up Equity Share Capital (Face value of the share shall be
included) |
57.880 |
57.880 |
|
15. Reserves excluding revaluation reserves as per balance sheet of
previous accounting year. |
0.000 |
0.000 |
|
16. Earning Per share (EPS) |
|
|
|
a) Basic and Diluted EPS before Extraordinary Items for the period,
for the year to date and for the previous year (not to be annualized) |
0.00 |
0.00 |
|
b) Basic and Diluted EPS after Extraordinary items for the period, for
the year to date and for the previous year (not to be annualized) |
0.00 |
0.00 |
|
17. Public Shareholding |
|
|
|
- No. of Shares |
3041931.00 |
3041931.00 |
|
- Percentage of Shareholding |
52.56 |
52.56 |
|
18. Promoters and promoter group shareholding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
NIL |
NIL |
|
- Percentage of Share (as a% of the total shareholding of promoter and
promoter group) |
NIL |
NIL |
|
- Percentage of Share (as a % of the total share capital of the
company) |
NIL |
NIL |
|
b) Non- encumbered |
|
|
|
- Number of Shares |
2746071.00 |
2746071.00 |
|
- Percentage of Share (as a% of the total shareholding of promoter and
promoter group) |
100% |
100% |
|
- Percentage of Share (as a % of the total share capital of the company) |
47.44 |
47.44 |
Notes:
- The aforesaid
results for the quarter ended 30.09.2010 were reviewed by the Audit
Committee and taken on record by Board of Directors at their meeting held
on 28.10.2010
- The figures
for the previous year / periods have been regrouped/ reclassified,
whenever necessary
- Company is
having only one segment- Gold Studed Jewellery.
- There were no
investor’s complaints pending as at the beginning of the quarter. There
was no complaints reviewed by the company during the quarter ended 30th
September, 2010.
|
Particulars |
6
Months ended 30.09.2010 |
|
SHAREHOLDERS’
FUNDS |
|
|
a) Capital |
5788002.000 |
|
b) Reserves and Surplus |
1125389.900 |
|
Deferred Tax Liability |
-- |
|
LOAN FUNDS |
4698681.500 |
|
TOTAL |
11612073.400 |
|
|
|
|
FIXED ASSETS |
2023122.200 |
|
INVESTMENTS |
-- |
|
CURRENT ASSETS,
LOANS AND ADVANCES |
|
|
a) Inventories |
3192964.300 |
|
b) Sundry Debtors |
7257488.900 |
|
c) Cash and Bank Balances |
29724.100 |
|
d) Other Current Assets (Jaipur Branch) |
6528.100 |
|
e) Loans and Advances |
721978.500 |
|
Less: Current
Liabilities and Provisions |
|
|
a) Liabilities |
883469.000 |
|
b) Provisions |
736263.700 |
|
Miscellaneous Expenditure
(Not Written off or adjusted) |
-- |
|
Profit and Loss
Account |
-- |
|
Total |
11612073.400 |
Fixed Assets
- Land
- Building
- Furniture and Fixture
- Vehicles
- Computers
- Lift
- Electric Installation
- Plant and Machinery
- Air Conditioner
- Office Equipments
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.45.20 |
|
|
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.61.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--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.