MIRA INFORM
REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
HARI |
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Registered
Office : |
315, Prasad Chambers, Opera House, Mumbai – 400004, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1992 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer, Importer and Exporter of Diamond |
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No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Bhaskar |
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Designation : |
Administration |
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Contact No.: |
91-22-43004300 |
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Date : |
27.07.2011 |
LOCATIONS
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Registered Office : |
315, Prasad Chambers, Opera House, Mumbai – 400004, |
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Tel. No.: |
91-22-43004300 / 23678111 / 23678112 / 23678113 |
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Fax No.: |
91-22-23643266 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory : |
9, Hari Krishana Campus, Near Viraj Chowk, Behind Sarthana Jakat Naka,
Varaccha Road, Simada Gam, Surat – 395006, Gujarat, India |
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Tel. No.: |
91-261-6544251 / 6544252 |
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Fax No.: |
91-261-2535027 |
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E-Mail : |
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Overseas Office : |
H. K. INTERNATIONAL 15 West, H. K. DIAM bvba Hoveniersstraat 2 Box 135, ADC Building Room No 530, HONGKONG H. K. IMPEX Unit 11, 10th Floor, West Wing, Peninsula Square, No. 18 Sung On
Street, Hung Hom, Kowloon,
HongKong H.
K. Exports Shanghai Ltd. Room A 807-a, No.1701 Century Avenue, China Diamond Center, Pudong
New Area, Shanghai, China |
PARTNERS
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Name : |
Mr. Savji Dholakia |
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Designation : |
Partner |
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Name : |
Mr. Ghanshyam Dholakia |
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Designation : |
Partner |
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Name : |
Mr. Himmat Dholakia |
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Designation : |
Partner |
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Name : |
Mr. Tulasi Dholakia |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Exporter of Diamond |
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Exports : |
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Products : |
Diamonds |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
4000 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. M. Nisim and Company Chartered Accountants |
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Address : |
Mumbai, |
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Associates/Subsidiaries : |
3rd Floor, WICEL Administrative
Building, WICEL Compound, Opposite SEEPZ Main Gate, MIDC, Andheri (East),
Mumbai – 400093, Tel No. : 91-22-67160000 / 67049710 Fax No.: 91-22-67049750 Email : wicel@hkinfo.com
Unit No. 113, Plot No. 54, SDF – IV,
SEEPZ-SEZ, Andheri (East), Mumbai – 400096, Tel No. : 91-22-67554444 / 67161616 Fax No.: 91-22-67161626 / 67161636 Email : mfg@jewlrybyhk.com
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
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11030.000 |
9410.000 |
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The above information has been parted by Mr. Bhaskar.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE
- Rusy Blue
- Taszlar and
Zoon
AS PER WEBSITE DETAILS
Profile
The Hari
Krishna Group is as multi-faceted as the diamonds it chisels and polishes every
day. Starting as their dream, the Hari Krishna Group today is the pride of 4000
skilled human resources. Each one of them treats the company as his own. And
zealously guards its reputation.
Their flagship company, Hari Krishna Exports was set up in 1992, with the
simultaneous opening of a sales and marketing office in Mumbai - the hub of
polished diamonds trade. Ever since then, it has been at the cutting edge of
the trade, setting trends in the field of manufacturing and export of diamonds
and studded jewelry.
The sparkle of their reputation has caught the eye of discerning customers near
and far. Today, their marketing network is spread across the world. Their
manufacturing units in
At Hari Krishna, they firmly believe in setting the standards in productivity,
quality, customer satisfaction, marketing and social responsibility. Their
unflinching dedication to these standards has earned they rich dividends: the
ISO 9001:2008 certificate from ABS Quality Evaluation Inc.,
An impressive 200% growth in the polished category during the year 2002-03 and
the Gem and Jewelry Export Promotion Council's (GJEPC) award for the excellence
in export of cut and polished diamonds for eighth consecutive years, are a
testament to the commitment we have to deliver nothing but the very best to
their clients.
The Hari Krishna Group is making its mark in export to
Though we've come a long way, we still feel there is a lot more to achieve.
Growth has now become a way of life at Hari Krishna.
ACHIEVEMENTS
- Hari Krishna has been a keen participant in prestigious trade show
in
- 1999 : The company became a government recognized Export House.
- 2000 : The Highest standard of quality-Hari Krishna Exports was
awarded the ISO 9002 certificate by ABS Quality Education,
- 2003: Achieved the 200% growth in the export of polished diamond
during the financial year 2002-03 compare to the previous financial year
2001-02.
- 2003: GJEPC ( The Gem and Jewellery Export Promotion Council of
India) Export Award was received under Non DTC Category for the financial
Year 2002-03 for the excellence in the export of cut and polished diamond
(13Th December)
- 2004: GJEPC (The Gem and Jewellery Export Promotion Council of
India) Export Award was received under Non DTC Category for the financial
Year 2003-04 for the excellence in the export of cut and polished diamond
(23rd December)
- 2005 : GJEPC ( The Gem and Jewellery Export Promotion Council of
India) Export Award was received under Non DTC Category for the financial
Year 2004-05 for the excellence in the export of cut and polished diamond.
- 2005 : New York Times featured an article on India Accelerating,
that examines
- 2006 : Certificate of three Star Export House was received in
accordance with the provisions of the foreign Trade Policy, 2004-2009
- 2006 : Achieved GJEPC Export Award under Non DTC Category for the
financial Year 2005-06 for the excellence in the export of cut and Polish
Diamond.
- 2007 : Achieved GJEPC Export Award under Non DTC Category for the
financial Year 2006-07 for the excellence in the export of cut and Polish
Diamond.
- 2008 : Achieved GJEPC Export Award under Non DTC Category for the
financial Year 2007-08 for the excellence in the export of cut and Polish
Diamond.
- 2009 : Achieved GJEPC Export Award under Non DTC Category for the
financial Year 2008-09 for the excellence in the export of cut and Polish
Diamond.
- Achieved GJEPC Export Award under Non DTC category for the
financial year 2009-2010 for the excellence in the Export of Cut and
Polished Diamonds.
- KISNA a Diamond Jewellery Brand offered by Hari Krishna Group has
crossed 2600 outlets in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.15 |
|
|
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
48 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.