MIRA
INFORM REPORT
|
Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND INDIA LIMITED |
|
|
|
|
Registered
Office : |
306, 307 and 308, Modi Chambers, French Bridge, Opera House, Mumbai –
400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.12.2002 |
|
|
|
|
Com. Reg. No.: |
11-138275 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2002PLC138275 |
|
|
|
|
IEC No.: |
0306062984 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD14256E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD8377R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Diamond and Jewellery. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. In view of non-availability of valuation report it would be advisable
to take adequate securities while dealing with the subject. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. V. S. A. Sury |
|
Designation : |
General Manager |
|
Contact No.: |
91-9920020869 |
|
Date : |
04.03.2011 |
LOCATIONS
|
Registered Office : |
306, 307 and 308, Modi Chambers, French Bridge, Opera House, Mumbai –
400004, Maharashtra, India |
|
Tel. No.: |
91-22-23875090/ 23629803 |
|
Mobile No.: |
91-9867394662 (Mr. Hitesh C. Mehta) |
|
Fax No.: |
91-22-23875095 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1506 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Corporate/ |
Plot No.12/13/14 1st Floor, Mira Nagar, Near
Lok Samarpan, Blood Bank, Mini Bazar, |
|
Tel. No.: |
91-261-2567710 |
|
Fax No.: |
91-261-2567709 |
|
E-Mail : |
|
|
Area : |
1497.54 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Overseas Office : |
|
DIRECTORS
|
Name : |
Mr. Praveen Shankar Pandya |
|
Designation : |
Director |
|
Address : |
132/ 331 |
|
Date of Birth : |
04.10.1950 |
|
Experience : |
30 years |
|
Date of Appointment : |
16.12.2002 |
|
Other Directorship : |
§
Reashankar Gems Limited |
|
|
|
|
Name : |
Mr. Dilipkumar Vishindas Lakhi |
|
Designation : |
Director |
|
Address : |
1101, Petit Tower, 11th Petit Tower, August Kranti Marg,
Mumbai – 400 036, |
|
Date of Birth/ Age |
12.05.1950 |
|
Experience : |
30 years |
|
Date of Appointment : |
09.09.2006 |
|
Other Directorship : |
§
Lakhi Group |
|
|
|
|
Name : |
Mr. Sudhir Rasiklal Mehta |
|
Designation : |
Director |
|
Address : |
25/C, Sushilp Bunglow, Ridge Road, Malbar Hill, B.G. Kher Marg,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/ Age |
08.12.1948 |
|
Experience : |
32 years |
|
Date of Appointment : |
09.09.2006 |
|
Other Directorship : |
§
Sur Gems |
|
|
|
|
Name : |
Mr. Nilesh Navinchandra Shah |
|
Designation : |
Director |
|
Address : |
16-B, Lands End, 29-D, |
|
Date of Birth/ Age |
06.05.1956 |
|
Experience : |
25 years |
|
Date of Appointment : |
16.12.2002 |
|
|
|
|
Name : |
Mr. Nikunj Shah |
|
Designation : |
Director |
|
Address : |
501 Gitanjali Garden, Rungta Lane, 68E Nepean Sea Road, Mumbai
-400006, Maharashtra, India |
|
Date of Birth/ Age |
08.11.1953 |
|
Experience : |
28 years |
|
Other Directorship : |
§
Star Brillian |
|
|
|
|
Name : |
Mr. Mehul Navinchandra Shah |
|
Designation : |
Director |
|
Address : |
121, Ashok Apartment, 68, Nepean Sea Road, Rungta Lane, Mumbai-
400006, Maharashtra, India |
|
Date of Birth/ Age |
07.05.1960 |
|
Experience : |
28 years |
|
Date of Appointment : |
27.09.2008 |
|
Other Directorship : |
§
|
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
112, Jal Mayur Co-op Hsg. Society Limited, Laxmi Villas, 87, |
|
Date of Birth/ Age |
19.01.1976 |
|
Experience : |
10 years |
|
Date of Appointment : |
27.09.2008 |
|
Other Directorship : |
§
Veer Gems |
|
|
|
|
Name : |
Mr. Dilip Maneklal Shah |
|
Designation : |
Director |
|
Address : |
406-B, Chandanbal, R. R. Thakkar Marg, Walkeshwar, Mumbai – 400006, |
|
Date of Birth/ Age |
01.06.1963 |
|
Experience : |
25 years |
|
Other Directorship : |
§
Kanubhai B Shah and Company |
|
|
|
|
Name : |
Mr. Rohan Pradeep Shah |
|
Designation : |
Director |
|
Address : |
E- I, |
|
Date of Birth/ Age |
12.01.1963 |
|
Experience : |
25 years |
|
Other Directorship : |
§
Economic Laws Practice |
|
|
|
|
Name : |
Mr. Sanjay Jayantilal Bhansali |
|
Designation : |
Director |
|
Address : |
1502, |
|
Date of Birth/ Age |
14.11.1962 |
|
Experience : |
21 years |
|
Date of Appointment : |
09.09.2006 |
|
Other Directorship : |
§
Bhansali Diamonds |
|
|
|
|
Name : |
Mr. Suresh Chimanlal Shah |
|
Designation : |
Director |
|
Address : |
15-A, |
|
Date of Birth/ Age |
18.10.1952 |
|
Experience : |
28 years |
|
Date of Appointment : |
27.09.2008 |
|
Other Directorship : |
§
Twinkle Diamonds |
|
|
|
|
Name : |
Mr. Vallabh Bhanshali |
|
Designation : |
Director |
|
Address : |
12, Laxmi Vilas, 87, |
|
Date of Birth/ Age |
04.03.1951 |
|
Experience : |
32 years |
|
Other Directorship : |
§
ENAM Securities Private Limited |
KEY EXECUTIVES
|
Name : |
Mr. V. S. A. Sury |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2009)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Dilipkumar Vishindas Lakhi |
|
1000000 |
|
Nilesh Navinchandra Shah |
|
200000 |
|
Mehul Navinchandra Shah |
|
300000 |
|
|
|
100000 |
|
Suresh Chimanlal Shah |
|
200000 |
(AS ON 29.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Other top fifty shareholders |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Diamond and Jewellery. |
|
|
|
|
Products : |
·
Rough Diamonds ·
Colored Gem Stones ·
Polished Diamonds
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
No. of Employees : |
7 |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
·
The Royal Bank of Brady House, ·
State Bank of Majestic Shopping Centre, Girgaon, Mumbai – 400004, ·
Union Bank of Tahura Chambers, Opera House, Mumbai – 40004, ·
ABN Amro Bank N.V., ·
Corporation Bank |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Credit Limit – Rs.950.000 Millions From The Royal Bank of Credit Limit – Rs.500.000 Millions From State Bank of Credit Limit – Rs.150.000 Millions From Union Bank of
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, |
|
Tel. No.: |
91-22-22834266/ 22855770 |
|
Fax No.: |
91-22-22834243 |
|
Email : |
|
|
|
|
|
Associates : |
Bulk Diamonds Private Limited |
|
|
|
|
Subsidiaries : |
Diamond |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51010 |
Equity Share |
Rs.10/- each |
Rs.0.510
Million |
|
21225522 |
Equity Shares |
Rs.3/- each |
Rs.63.677
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.64.187 Millions |
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 |
64.187 |
62.887 |
62.487 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
627.622 |
576.461 |
575.792 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
691.809 |
639.348 |
638.279 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
549.900 |
1.433 |
7.781 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
549.900 |
1.433 |
7.781 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.030 |
|
|
|
|
|
|
|
|
TOTAL |
1241.709 |
640.781 |
646.090 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.017 |
2.011 |
2.075 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.886 |
13.321 |
85.622 |
|
|
DEFERREX TAX ASSETS |
0.046 |
0.005 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
970.563
|
394.704
|
378.292 |
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
261.910
|
219.296
|
175.597 |
|
|
Other Current Assets |
5.321
|
5.738
|
9.236 |
|
|
Loans & Advances |
55.612
|
30.170
|
23.532 |
|
Total
Current Assets |
1293.406
|
649.908 |
586.657 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2.970
|
0.739
|
0.838 |
|
|
Other Current Liabilities |
0.333
|
0.423
|
0.002 |
|
|
Provisions |
69.343
|
23.302
|
27.424 |
|
Total
Current Liabilities |
72.646
|
24.464
|
28.264 |
|
|
Net Current Assets |
1220.760
|
625.444
|
558.393 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1241.709 |
640.781 |
646.090 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5519.649 |
1149.212 |
1038.288 |
|
|
|
Other Income |
21.266 |
21.015 |
32.481 |
|
|
|
TOTAL (A) |
5540.915 |
1170.227 |
1070.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
5955.240 |
1158.257 |
1234.184 |
|
|
|
Operating and Other Expenses |
16.542 |
15.345 |
13.472 |
|
|
|
Preliminary Expenses written off |
0.000 |
0.000 |
0.012 |
|
|
|
Increase/ Decrease in Inventories |
(575.859) |
(16.412) |
(218.941) |
|
|
|
TOTAL (B) |
5395.923 |
1157.190 |
1028.727 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
144.992 |
13.037 |
42.042 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.517 |
11.557 |
16.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
99.475 |
1.480 |
25.432 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.432 |
0.407 |
0.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
99.043 |
1.073 |
25.230 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
33.426 |
0.326 |
9.212 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.617 |
0.747 |
16.018 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.398 |
17.330 |
10.273 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
6.562 |
-- |
0.801 |
|
|
|
Proposed Dividend on Equity Shares |
22.465 |
3.144 |
6.975 |
|
|
|
Tax on Proposed Dividend |
3.818 |
0.535 |
1.185 |
|
|
BALANCE CARRIED
TO THE B/S |
47.170 |
14.398 |
17.330 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1422.036 |
119.855 |
221.356 |
|
|
TOTAL EARNINGS |
1422.036 |
119.855 |
221.356 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
5969.603 |
1057.709 |
1243.290 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.22 |
0.16 |
3.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.18
|
0.06
|
1.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.79
|
0.09
|
2.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.65
|
0.16
|
4.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.00
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.90
|
0.04
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
17.80
|
26.57
|
20.76 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(ESTIMATED) |
|
|
|
|
|
|
Gross Sales |
|
|
|
Diamond |
|
|
|
Domestic Sales |
4500.000 |
5000.000 |
|
Exports Sales |
2500.000 |
3000.000 |
|
|
|
|
|
Gold |
|
|
|
Domestic Sales |
3000.000 |
4000.000 |
|
Exports Sales |
0.000 |
0.000 |
|
|
|
|
|
Total Gross Sales |
10000.000 |
12000.000 |
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
10000.000 |
12000.000 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to previous
year |
81% |
20% |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed (Including Stores and
Other Items Used in the Process of Manufacture) |
|
|
|
Imported |
11259.000 |
12089.600 |
|
Indigenous |
0.000 |
0.000 |
|
|
0.000 |
0.000 |
|
Others Stores and Spares |
0.000 |
0.000 |
|
Power and Fuel |
0.000 |
0.000 |
|
Direct Labour |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.000 |
0.000 |
|
Depreciation |
0.400 |
0.400 |
|
|
|
|
|
Sub
Total |
11259.400 |
12090.000 |
|
|
|
|
|
Add: Opening Stock of Process WIP |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total |
11259.400 |
12090.000 |
|
|
|
|
|
Less: Closing Stock in process |
0.000 |
0.000 |
|
|
|
|
|
Total
Cost of Production |
11259.400 |
12090.000 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
970.600 |
1630.000 |
|
|
|
|
|
Sub
Total |
12230.000 |
13720.000 |
|
|
|
|
|
Less: Closing Stock of Finished Goods |
2430.000 |
160.000 |
|
|
|
|
|
Total
Cost of Sales |
9800.000 |
11760.000 |
|
|
|
|
|
Gross Profit |
200.000 |
240.000 |
|
|
|
|
|
Gross
Profit (%) |
2.00 |
2.00 |
|
|
|
|
|
Selling, General and Administrative Expenses |
25.000 |
40.000 |
|
|
|
|
|
Operating
Profit Before Interest |
175.000 |
200.000 |
|
|
|
|
|
Interest |
75.000 |
85.000 |
|
|
|
|
|
Operating
Profit after Interest |
100.000 |
115.000 |
|
|
|
|
|
Add : Non- Operating income |
0.000 |
0.000 |
|
|
|
|
|
Deduct Non –Operating Expenses |
0.000 |
0.000 |
|
|
|
|
|
Net
of other non operating Income
/ Expenses |
20.000 |
20.000 |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
120.000 |
135.000 |
|
|
|
|
|
Provision for taxes |
36.000 |
40.500 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
84.000 |
94.500 |
|
|
|
|
|
Equity dividend Paid Amount (Already Paid + B. S.
Provision) |
26.300 |
26.300 |
|
Dividend Rate |
35% |
35% |
|
|
|
|
|
Retained profit |
57.700 |
68.200 |
|
|
|
|
|
Retained
Profit/ Net profit % |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(ESTIMATED) |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Short term borrowings from banks
(Including bills purchased, discounted and excess borrowings placed on
repayment bases) |
|
|
|
From applicant bank |
2950.000 |
3500.000 |
|
From other banks |
0.000 |
0.000 |
|
Of which BP&BD |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (A) |
2950.000 |
3500.000 |
|
|
|
|
|
Short term borrowings from others |
0.000 |
0.000 |
|
Sundry creditors(trade) |
0.000 |
0.000 |
|
Advance payments from customers/deposits
from dealers |
0.000 |
0.000 |
|
Provision for taxation |
0.000 |
0.000 |
|
Dividend payable/expenses payable |
0.000 |
0.000 |
|
Other statutory liabilities(payable within
one year) |
0.000 |
0.000 |
|
Deposits/ Installments of term loans/
DPGs/ debentures, etc.(due within one year) |
0.000 |
0.000 |
|
Other current liabilities and
provisions(due within one year)--specify major items |
10.000 |
10.000 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
2960.000 |
3510.000 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
Debentures [not maturing within one year] |
0.000 |
0.000 |
|
Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
|
Term loans [excluding installments payable within
one year] |
0.000 |
0.000 |
|
Loans (Unsecured from Promoters) |
0.000 |
0.000 |
|
Deferred Sales Tax / Deferred Loan Deferred Payment Credit
[Excluding installments due within one year] |
0.000 |
0.000 |
|
Term deposit [repayable after one year] |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
|
|
|
|
|
TOTAL TERM LIABILITIES
|
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OUT LIABILITIES |
2960.000 |
3510.000 |
|
|
|
|
|
NET
WORTH |
|
|
|
Ordinary Shares
Capital Quasi Capital |
86.200 |
108.200 |
|
General Reserve |
7.400 |
7.400 |
|
Revaluation Reserve |
0.000 |
0.000 |
|
Shares Premium |
771.000 |
969.000 |
|
Surplus [+] or deficit [-] in Profit and Loss Account |
104.900 |
173.100 |
|
Other (Specify) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
NET WORTH |
969.500 |
1257.700 |
|
|
|
|
|
TOTAL
LIABILITIES |
3929.500 |
4767.700 |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
10.000 |
12.500 |
|
|
|
|
|
Investments |
590.000 |
700.000 |
|
|
|
|
|
Receivable |
583.300 |
666.600 |
|
Export Receivables |
250.000 |
333.400 |
|
|
|
|
|
INVENTORY
|
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
|
Imported |
2430.000 |
2960.000 |
|
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
|
Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
|
|
|
|
|
Advances Suppliers of Stores and Spares |
0.000 |
0.000 |
|
Advances Payment of Taxes
|
0.000 |
0.000 |
|
Other Current Assets |
64.100 |
93.000 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
3927.400 |
4765.500 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
Gross Block (Land and Building, Machinery,
Work-In-Progress) |
3.500 |
4.000 |
|
Depreciation to date |
1.400 |
1.800 |
|
|
|
|
|
NET BLOCK |
2.100 |
2.200 |
|
|
|
|
|
OTHER
NON – CURRENT ASSETS |
|
|
|
Investments/ book/ debts/ advances/ deposits which are not
Current Assts |
|
|
|
a. Deposits |
0.000 |
0.000 |
|
b. FD for Margin Money with Bank for L/C and B/ G |
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] Others |
0.000 |
0.000 |
|
Miscellaneous Deposits |
0.000 |
0.000 |
|
Non consumables Stores and Spares |
0.000 |
0.000 |
|
|
|
|
|
Other non – current assets including dues from directors
(Deferred Tax Assets) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.000 |
0.000 |
|
|
|
|
|
Intangible assets [Patents, goodwill, prelim, expenses, bad/
doubtful expenses Not provided for etc.] |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
3929.500 |
4767.700 |
|
|
|
|
|
TANGIBLE
NET WORTH |
969.500 |
1257.700 |
|
|
|
|
|
Net Working Capital |
967.400 |
1255.500 |
|
|
|
|
|
Current Ratio |
1.33 |
1.36 |
|
|
|
|
|
Total Outside Liabilities/ Tangible Net worth |
3.05 |
2.79 |
|
|
|
|
|
Total Term Liabilities/ Tangible Net worth |
0.00 |
0.00 |
|
|
|
|
|
Debt Equity Ratio |
3.04 |
2.78 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS IN
MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(ESTIMATED) |
|
|
Raw Materials |
|
|
|
[a] Imported |
2430.000 |
2960.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Other consumable spares |
|
|
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
|
Months cost of production |
0.000 |
0.000 |
|
|
|
|
|
Finished goods |
0.000 |
0.000 |
|
Months cost of sales |
0.000 |
0.000 |
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
583.300 |
666.600 |
|
Months domestic sales |
-- |
-- |
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers] |
250.000 |
333.400 |
|
Months export sales |
-- |
-- |
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
0.000 |
0.000 |
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
74.100 |
105.500 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
3337.400 |
4065.500 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
0.000 |
0.000 |
|
Months Purchases |
0.000 |
0.000 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
10.000 |
10.000 |
|
|
|
|
|
TOTAL |
10.000 |
10.000 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(ESTIMATED) |
|
|
|
|
|
|
FIRST METHOD OF
LENDING |
|
|
|
|
|
|
|
Total current assets |
3337.400 |
4065.500 |
|
|
|
|
|
Other Current Liabilities [Other than bank borrowings] |
10.000 |
10.000 |
|
|
|
|
|
Working capital gap [WCG] |
3327.400 |
4055.500 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
831.900 |
10.139 |
|
|
|
|
|
Actual / Projected net working capital |
967.400 |
1255.500 |
|
|
|
|
|
Item 3 minus item 4 |
2495.600 |
3041.600 |
|
|
|
|
|
Item 3 minus item 5 |
2360.000 |
2800.000 |
|
|
|
|
|
Maximum permissible bank finance [item 6 or 7, whichever is lower] |
2360.000 |
2800.000 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
0.000 |
0.000 |
|
|
|
|
|
FIRST METHOD OF
LENDING |
|
|
|
|
|
|
|
Total current assets |
3337.400 |
4065.500 |
|
|
|
|
|
Other Current Liabilities [Other than bank borrowings] |
10.000 |
10.000 |
|
|
|
|
|
Working capital gap [WCG] |
3327.400 |
4055.500 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
834.400 |
1016.400 |
|
|
|
|
|
Actual / Projected net working capital |
967.400 |
1255.500 |
|
|
|
|
|
Item 3 minus item 4 |
2493.100 |
3039.100 |
|
|
|
|
|
Item 3 minus item 5 |
2360.000 |
2800.000 |
|
|
|
|
|
Maximum permissible bank finance [item 6 or 7, whichever is lower] |
2360.000 |
2800.000 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW
STATEMENT
(RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
SOURCES |
|
|
|
|
|
|
|
Net Profit (After Tax) |
84.000 |
94.500 |
|
Depreciation |
0.400 |
0.400 |
|
Increase in Capital |
220.000 |
220.000 |
|
Increase in Term Liabilities |
0.000 |
0.000 |
|
Decrease in: |
|
|
|
- Fixed Assets |
0.000 |
0.000 |
|
- Other Non Current Assets |
0.000 |
0.000 |
|
- Intangible Assets |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL |
304.400 |
314.900 |
|
|
|
|
|
USES |
|
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
|
Decrease in Capital |
0.000 |
0.000 |
|
Decrease in Term Liabilities (Including Public deposits) |
0.000 |
0.000 |
|
Increase in: |
|
|
|
- Fixed Assets |
0.400 |
0.500 |
|
- Other Non Current Assets |
0.000 |
0.000 |
|
- Intangible Assets |
0.000 |
0.000 |
|
Dividend Payment |
26.300 |
26.300 |
|
Others –Tax Payment |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL |
26.700 |
26.800 |
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
277.700 |
288.100 |
|
|
|
|
|
Increase/ decrease in Current Assets |
2634.000 |
838.100 |
|
|
|
|
|
Increase/ decrease in current Liabilities other than Bank Borrowings |
(62.600) |
0.000 |
|
|
|
|
|
Increase / Decrease in Working Capital Gap |
2696.600 |
838.100 |
|
|
|
|
|
Net Surplus [+] / Deficit [-] [Difference of 3 & 6] |
(241.890) |
(550.000) |
|
|
|
|
|
Increase / Decrease in Bank Borrowings |
2400.100 |
550.000 |
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
4480.400 |
2000.000 |
|
|
|
|
|
BREAK UP OF (4) |
|
|
|
|
|
|
|
Increase/ Decrease in Goods |
1459.400 |
530.000 |
|
|
|
|
|
Increase/ Decrease in Stocks in Process |
0.000 |
0.000 |
|
|
|
|
|
Increase/ Decrease in Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Increase/ Decrease in Receivables |
|
|
|
- Domestic |
583.300 |
83.300 |
|
- Export |
250.000 |
83.400 |
|
|
|
|
|
Increase/ Decrease in Stores and Spares |
0.000 |
0.000 |
|
|
|
|
|
Increase/ Decrease in Other current Assets |
341.300 |
141.400 |
|
|
|
|
|
TOTAL INCREASE/
DECREASE IN CURRENT ASSETS |
2634.000 |
838.100 |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
·
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The registered office of the company has been shifted from 405, Modi Chambers, French Bridge, Opera House, Mumbai – 400 004, Maharashtra to the present address w.e.f. 16.11.2007.
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U36911MH2002PLC138275 |
|
Name of the
company |
DIAMOND INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
405, Modi Chambers, |
|
Type of charge |
Book Debts Others (Stock in
Trade) |
|
Particular of
charge holder |
ABN Amro Bank
N.V., E-Mail: in.bs.delhi@in.abnamro.com |
|
Nature of
description of the instrument creating or modifying the charge |
Joint deed of
hypothecation |
|
Date of
instrument Creating the charge |
16.03.2007 |
|
Amount secured by
the charge |
Rs.1600.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest /such other rate as may be prescribed by the bank from time to time. Terms of
Repayment: As per agreement Margin: The
company shall maintain such margin as may be specified by the bank from time
to time. Extent and
Operation of the charge: 100 % Others: The above
Consortium charge is to secure total facility of Rs.1600.000 millions. (ABN Amro
Bank's - Rs.950.000 millions, State Bank of Union Bank of |
|
Short particulars
of the property charged |
Hypothecation of
Stocks and Book Debts (On pari passu basis with other banks) |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Computers
· Furniture and Fixtures
· Office Equipments
------------------------------------------------------------------------------------------------------------------------------
WEBSITE DETAILS:
PROFILE:
Subject has been formed by the unified effort of 58 leading
diamond and jewellery manufacturers and exporters of
Subject provides stability and convenience with a marketing
supported by a scheme of certification, chain of warranties to ensure total
satisfaction of the consumer. In such a short span. Subject has become a
pioneer that holds a promising future. It has a strong marketing network for
coloured gem stones reason being the considerable domestic demand for them.
Subject is expanding its network with a joint venture with a Thai company for
marketing Thai rubies and other coloured gem stones in
Subject will create a revolution in the market with its path
breaking ideas. It envisages setting up of infrastructure facilities like
establishment of special economic zones for gems and jewellery for manufacture,
export and trading setting up of training institutes in the gems and jewellery
sector. It endeavours to create a world famous colour stone brand and build
consumer preference for colour stone jewellery. It has signed a memorandum of
understanding with the Thai company in presence of the foreign ministry of
Thailand.
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.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.