|
Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAIA JEWELS PRIVATE LIMITED |
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Registered
Office : |
22, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.12.2008 |
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Com. Reg. No.: |
11-188843 |
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Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2008PTC188843 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR24664D |
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PAN No.: [Permanent Account No.] |
AAECR2089R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Gold Jewellery. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track records. The
company is progressing well. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Ms. Sneha |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-43222111 |
|
Date : |
27.03.2012 |
LOCATIONS
|
Registered Office : |
22, Police Court Lane, 1st Floor, Behind Bank of India, D.
N. Road Branch, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Sales Office : |
Unit No. 11, 80/88 D.L. Marg, Opposite Hakoba Mills, Kalachowky,
Mumbai – 400033, Maharashtra, India |
|
Tel. No.: |
91-22-43222111/ 24704647 |
|
Fax No.: |
91-22-43222111 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ravish Mahesh Pahuja |
|
Designation : |
Director |
|
Address : |
34, Jal-Kiran, 9th Floor, Cuffee Parade, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
27.06.1985 |
|
Date of Appointment : |
11.12.2008 |
|
DIN No.: |
01473645 |
|
|
|
|
Name : |
Mr. Avinash Mohan Pahuja |
|
Designation : |
Director |
|
Address : |
44, Hassa Mahal, 98 Dalamal Park, Cuffee Parade, Mumbai – 400005,
Maharashtra, India |
|
Date of Appointment : |
11.12.2008 |
|
DIN No.: |
01473684 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Avinash Lifestyle Private Limited, India |
|
10000 |
|
Avinash Mohan Pahuja |
|
988000 |
|
Mahesh Pahuja |
|
1000 |
|
Mohan Pahuja |
|
1000 |
|
Ravish Lifestyle Private Limited, India |
|
10000 |
|
Ravish Mahesh Pahuja |
|
988000 |
|
Reema Pahuja |
|
1000 |
|
Simal Pahuja |
|
1000 |
|
Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
1.20 |
|
Directors or relatives of Directors |
98.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Gold Jewellery. |
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Products : |
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Brand Names : |
Oro Classic Gold |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
·
HDFC Bank ·
Union Bank ·
Shamrao Vithal Co-operative Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. L. Choraria and Associates Chartered Accountants |
|
Address : |
C 712, Dosti Lily, Dosti Acres, Wadala (East), Mumbai – 400037,
Maharashtra, India |
|
PAN.: |
AAQPC7819K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.840 |
1.262 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.840 |
1.362 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.678 |
0.000 |
0.000 |
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2] Unsecured Loans |
9.455 |
23.160 |
16.022 |
|
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TOTAL BORROWING |
34.133 |
23.160 |
16.022 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.022 |
0.000 |
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|
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|
|
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TOTAL |
59.973 |
24.544 |
16.122 |
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|
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APPLICATION OF FUNDS |
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|
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|
FIXED ASSETS [Net Block] |
2.435 |
0.965 |
0.000 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
0.069 |
0.069 |
12.756 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
13.568
|
11.219 |
0.000 |
|
|
Sundry Debtors |
8.716
|
15.283 |
0.000 |
|
|
Cash & Bank Balances |
16.237
|
2.378 |
3.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.436
|
5.536 |
0.030 |
|
Total
Current Assets |
50.957
|
34.416 |
3.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.291
|
16.355 |
0.002 |
|
|
Other Current Liabilities |
5.393
|
0.000 |
0.000 |
|
|
Provisions |
2.810
|
1.590 |
0.056 |
|
Total
Current Liabilities |
13.494
|
17.945 |
0.058 |
|
|
Net Current Assets |
37.463
|
16.471 |
2.972 |
|
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|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
20.006 |
7.039 |
0.394 |
|
|
|
|
|
|
|
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TOTAL |
59.973 |
24.544 |
16.122 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
251.052 |
81.185 |
|
|
|
Other Income |
|
0.244 |
0.003 |
|
|
|
TOTAL (A) |
|
251.296 |
81.188 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
139.653 |
18.829 |
|
|
|
Salaries, Wages, Bonus and Benefits to Employees |
|
7.057 |
5.041 |
|
|
|
Administration Expenses |
|
19.704 |
10.072 |
|
|
|
Sales and Distribution Expenses |
|
3.924 |
1.993 |
|
|
|
Labour Expenses |
|
69.897 |
41.208 |
|
|
|
Preliminary Expenses written off |
|
0.035 |
0.039 |
|
|
|
TOTAL (B) |
|
240.270 |
77.182 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
11.026 |
4.006 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
4.152 |
2.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.874 |
1.946 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.496 |
0.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
6.378 |
1.858 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.801 |
0.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
|
4.577 |
1.262 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
4.577 |
1.262 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.29 |
12.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.82
|
1.55 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.54
|
2.29 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.95
|
5.25 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
1.36 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.84
|
30.18 |
160.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.78
|
1.92 |
52.24 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors of Trade |
5.291
|
16.355 |
0.002 |
|
Total |
5.291
|
16.355 |
0.002 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of firm
for last three years |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
No |
|
16) Details of
sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
No |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
Note: The registered
address of the company Unit No. 11, 80/88 D.L. Marg, Opposite Hakoba Mills,
Kalachowky, Mumbai – 400033, Maharashtra, India has been shifted to the present
address w.e.f. 04.01.2010
FINANCIAL REVIEW
The Company’s
overall performance during the financial year 2010-2011 was satisfactory
considering the scenario of economy. The Company has achieved turnover of over
251.296 Millions and a Net Profit after tax of 4.577 Millions during the year.
FIXED ASSETS
·
Computer and Printer
·
Electrical Equipments
·
Furniture and Fixtures
·
Mobile Phone
·
Office Equipment
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] 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.50.91 |
|
|
1 |
Rs.81.27 |
|
Euro |
1 |
Rs.67.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.