1. Summary Information
|
|
|
Country |
|
|
Company Name |
M D OVERSEAS LIMITED |
Principal Name 1 |
Mr. Bansal Satish |
|
Status |
Good |
Principal Name 2 |
Mr. Satish Bansal |
|
|
|
Registration # |
55 – 11099 |
|
Street Address |
10-A, Scindia House, Connaught Circus, |
||
|
Established Date |
05.12.1980 |
SIC Code |
-- |
|
Telephone# |
91-11-23326940 |
Business Style 1 |
Importer |
|
Fax # |
91-11-23711154 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Jewellery and Precious |
|
|
# of employees |
Not Available |
Product Name 2 |
Metal |
|
Paid up capital |
Rs.9,662,000 /- |
Product Name 3 |
Stone |
|
Shareholders |
-- |
Banking |
Axis Bank |
|
Public Limited Corp. |
NO |
Business Period |
32 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Parties |
-- |
Gulab Impex Enterprises Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
57,720,469,000 |
Current Liabilities |
27,885,861,000 |
|
Inventories |
903,396,000 |
Long-term Liabilities |
30,580,926,000 |
|
Fixed Assets |
17,332,000 |
Other Liabilities |
185,396,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
58,652,183,000 |
|
Invest& other Assets |
1,031,694,000 |
Retained Earnings |
1,011,046,000 |
|
|
|
Net Worth |
1,020,708,000 |
|
Total Assets |
59,672,891,000 |
Total Liab. & Equity |
59,672,891,000 |
|
Total Assets (Previous Year) |
33,949,851,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
92,480,197,000 |
Net Profit |
120,257,000 |
|
Sales
(Previous yr) |
86,716,518,000 |
Net Profit(Prev.yr) |
56,006,000 |
|
Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
M D OVERSEAS LIMITED |
|
|
|
|
Registered
Office : |
10-A, Scindia House, Connaught Circus, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.12.1980 |
|
|
|
|
Com. Reg. No.: |
55 – 11099 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.662 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L52110DL1980PLC011099 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM10176F / DELM08749G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM9507F |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Engaged in Trading and Manufacturing, Import and Export of Jewellery
and Precious metal and Stone Activities. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4080000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company fine track. General financials
positions of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per commitments. The company 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
10-A, Scindia House, Connaught Circus, |
|
Tel. No.: |
91-11-23326940 / 23328726 / 23324615 |
|
Fax No.: |
91-11-23711154 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
7th Floor, |
|
Tel. No.: |
91-22-40077400 to 431 |
|
Fax No.: |
91-22-40077500 |
|
|
|
|
Correspondence : |
43, |
|
Tel. No.: |
91-11-42355200/35 |
|
Fax No.: |
91-11-42355250 |
|
E-Mail : |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Bansal Satish |
|
Designation : |
Director |
|
Address : |
10 – B, Raj |
|
Date of Birth/Age : |
22.02.1957 |
|
Date of Appointment : |
04.08.1986 |
|
|
|
|
Name : |
Mr. Satish Bansal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pradeep Jain |
|
Designation : |
Director |
|
Date of Birth/Age : |
47 years |
|
Qualification : |
LL.B. |
|
Date of Appointment : |
19.03.2011 |
|
|
|
|
Name : |
Mr. Bhargava N Vaidya |
|
Designation : |
Director |
|
Date of Birth/Age : |
45 years |
|
Qualification : |
B.Com., FCA |
|
Date of Appointment : |
19.03.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
Engaged in Trading and Manufacturing, Import and Export of Jewellery
and Precious metal and Stone Activities. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Gold Medallion |
KG |
18,884.878 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Arun Naresh and Company Chartered Accountants |
|
Address : |
37, |
|
PAN.: |
AAFFA5631C |
|
|
|
|
Enterprises owned
or significantly influenced by key management personnel or their relatives
with whom transactions have taken place during the year : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
966200 |
Equity Shares |
Rs.10/- each |
Rs.9.662
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 |
9.662 |
9.662 |
9.662 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1011.046 |
890.790 |
834.784 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1020.708 |
900.452 |
844.446 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30580.926 |
17740.563 |
5500.137 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
25.000 |
|
|
TOTAL BORROWING |
30580.926 |
17740.563 |
5525.137 |
|
|
DEFERRED TAX LIABILITIES |
2.445 |
2.735 |
3.048 |
|
|
|
|
|
|
|
|
TOTAL |
31604.079 |
18643.750 |
6372.631 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.332 |
14.743 |
17.353 |
|
|
Capital work-in-progress |
2.007 |
2.007 |
1.805 |
|
|
|
|
|
|
|
|
INVESTMENT |
1029.687 |
1029.687 |
1029.699 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
903.396
|
1329.377 |
1961.057 |
|
|
Sundry Debtors |
2081.906
|
1931.655 |
1489.613 |
|
|
Cash & Bank Balances |
55089.251
|
28994.922 |
55333.860 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
549.312
|
647.460 |
1062.432 |
|
Total
Current Assets |
58623.865
|
32903.414 |
59846.962 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27659.042
|
15080.163 |
54399.559 |
|
|
Other Current Liabilities |
226.819
|
105.487 |
123.440 |
|
|
Provisions |
182.951
|
120.451 |
0.189 |
|
Total
Current Liabilities |
28068.812
|
15306.101 |
54523.188 |
|
|
Net Current Assets |
30555.053
|
17597.313 |
5323.774 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
31607.079 |
18643.750 |
6372.631 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
92480.197 |
86716.518 |
116650.247 |
|
|
|
Job Work/Making Charges |
0.000 |
0.522 |
0.000 |
|
|
|
Profit from Commodity & Currency Futures Trading |
110.479 |
5.204 |
412.414 |
|
|
|
Other Income |
2440.896 |
1277.754 |
9810.012 |
|
|
|
TOTAL (A) |
95031.572 |
87999.998 |
126872.673 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
94514.964 |
87648.158 |
126114.125 |
|
|
|
Establishment Expenses |
21.152 |
16.274 |
13.856 |
|
|
|
Administrative Expenses |
28.100 |
25.987 |
23.250 |
|
|
|
Selling and Distribution Expenses |
24.186 |
14.896 |
35.884 |
|
|
|
TOTAL (B) |
94588.402 |
87705.315 |
126187.115 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
443.170 |
294.683 |
685.558 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
256.481 |
195.049 |
426.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
186.689 |
99.634 |
258.718 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.222 |
3.297 |
3.906 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
182.467 |
96.337 |
254.812 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
62.210 |
40.331 |
87.918 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
120.257 |
56.006 |
166.894 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
886.004 |
829.998 |
663.104 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
1006.261 |
886.004 |
829.998 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export of Goods & Services |
72880.258 |
40221.631 |
54345.028 |
|
|
TOTAL EARNINGS |
72880.258 |
40221.631 |
54345.028 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
124.46 |
57.97 |
172.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.13
|
0.06 |
0.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.20
|
0.11 |
0.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.31
|
0.29 |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.11 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
57.46
|
36.70 |
71.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
2.15 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
No |
DIAMOND INDUSTRY –
-
From time immemorial,
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term performance
– focused strategies, modern management and technology.
-
The diamond jewellery industry in
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
-
This could be the biggest credibility crisis the
Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs
20000.000 millions lent to a dozen diamond firms in
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
YEAR IN RETROSPECT
The sale and other income for the financial year were Rs.95031.500 millions as against Rs.87999.900 millions for the previous financial year. The Profit before tax was Rs.182.466 millions as against Rs.96.336 millions for the previous financial year. The Profit after tax was Rs.120.256 millions as against Rs56.605 millions for the previous financial year.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS
The overall
provisional export of Gems and Jewellery
Industry amounts to US$ 43,139.24 million (Rupees 1964701.200 and) during financial year. 2010-11; showing a
growth of 46.89 % (41.60% in rupees term) as compared to US$ 29,368.72 million
(Rupees 1387522.900 Millions) for the
same period during previous financial year.
The overall
provisional import of Gems and Jewellery
Industry amounts to US$ 41,930.29 million (Rupees 1911941.900 millions) during
financial year. 2010-11; showing a growth of 46.96 % (41.77 % in rupees term)
as compared to US$ 28,532.38 million (Rs.1348625.100 millions) for the same
period during previous financial year
OUTLOOK
The primary source of revenue for the Company is bullion trading. The net profit of the Company in recent past is represented below.
During the year the Company has added new relationships
particularly in the emerging market of Hong Kong and
The Company is also in the process of tying up with various
foreign banks located in
UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2011
Rs. In Millions
|
Sr No |
Particulars |
Three months ended |
Previous three months ended |
Year to date figures for current period ended |
|
|
31.12.2011 |
30.09.2011 |
31.12.2011 |
|
|
UNAUDITED |
UNAUDITED |
UNAUDITED |
||
|
|
||||
|
1 |
(a) Net Sales/ Income from Operations(lncluding
Interest Income) |
24910.357 |
15081.610 |
57277.148 |
|
|
Total Income |
24910.357 |
15081.610 |
57277.148 |
|
2 |
Expenditure |
|
|
|
|
|
a. (Increase)/decrease in
stock in
trade and work in
progress |
238.544 |
1304.354 |
859.482 |
|
|
b. Consumption of raw materials |
0.000 |
0.000 |
0.000 |
|
|
c. Purchase
of traded goods |
24512.319 |
13363.947 |
55670.154 |
|
|
d. Employees
cost |
7.380 |
5.381 |
17.393 |
|
|
e. Depreciation |
0.880 |
0.883 |
2.641 |
|
|
f. Other expenditure |
20.935 |
15.381 |
48.541 |
|
|
Total |
24780.058 |
14689.946 |
56598.211 |
|
3 |
Profit/ (Loss) from Operations before
Interest and Exceptional Items (1-2) |
130.299 |
391.664 |
678.937 |
|
4 |
Other Income |
29.832 |
(220.031) |
(186.049) |
|
5 |
Profit/ (Loss) before Interest and
Exceptional Items ( 3+4 ) |
160.131 |
171.633 |
492.888 |
|
6 |
Interest |
105.763 |
111.125 |
342.549 |
|
7 |
Profit/ (Loss) after Interest but before
Exceptional Items ( 5-6) |
54.368 |
60.508 |
150.339 |
|
8 |
Exceptional Items |
-- |
-- |
-- |
|
9 |
Profit/ (Loss) before Tax ( 7+8 ) |
54.368 |
60.508 |
150.339 |
|
10 |
Tax Expense |
18.480 |
19.632 |
51.100 |
|
11 |
Net Profit/ (Loss) from Ordinary Activities
after Tax( 9-10 ) |
35.889 |
40.876 |
99.239 |
|
12 |
Extraordinary Items (Net of tax expenses) |
-- |
-- |
-- |
|
13 |
Net Profit/ (Loss) for the period (11-12 ) |
35.889 |
40.876 |
99.239 |
|
14 |
Paid-up equity share capital |
|
|
|
|
|
(Face value Rs.10/- per share) |
96.62 |
96.62 |
96.62 |
|
15 |
Reserves excluding Revaluation
Reserves as per balance sheet of |
- |
|
- |
|
|
previous accounting year |
|
|
|
|
16 |
Earnings Per Share (EPS) |
37.15 |
42.31 |
102.73 |
|
|
(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) |
|
|
|
|
|
(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) |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- Number of shares |
136,680 |
13,680 |
136,680 |
|
|
- Percentage of Shareholding |
14.15% |
14.15% |
14.15% |
|
18 |
Promoters and Promoter Group Shareholding** |
|
|
|
|
a) |
Pledged/Encumbered |
|
|
|
|
|
- Number of shares |
-- |
-- |
-- |
|
|
- Percentage of Shares (as a % of total Shareholding
of Promoter and |
-- |
-- |
-- |
|
|
Promoter Group) |
|
|
|
|
|
- Percentage of Shares (as a % of total
share capital of the Company) |
-- |
-- |
-- |
|
b) |
Non-Encumbered |
|
|
|
|
|
- Number of shares |
829,520 |
829,520 |
829,520 |
|
|
- Percentage of Shares (as a % of total
Shareholding of Promoter and |
|
|
|
|
|
Promoter Group) |
100% |
100% |
100% |
|
|
- Percentage of Shares (as a % of total
share capital of the Company) |
85.85% |
85.85% |
85.85% |
Note:
Fixed Assets:
WEBSITE DETAILS
Profile
Subject has been a trusted name for over six decades in the
physical and futures trading segment for multiple commodities. Carrying forward
its legacy, vast experience and resolution to innovate and excel, the Subject
has maintained its position as a leading importer/exporter of gold and silver
in
The rich legacy of the Group begins with its founder, Shri
Puranmal Bansal, six decades ago. In spite of a modest educational background,
the exemplary leader began his career in trade as a 12 year old at the Chamber
of Commerce in Hathras, Uttar Pradesh. His immense self confidence, dedication
and keen analytical skills led him to move to
By the early 70s, the Group gained momentum and structure as
it witnessed the introduction of Shri Puranmal Bansal’s sons. Since the
government of
With a strong belief in adapting and innovating according to
market conditions, the Group treated the ban on Silver export in 1978-79, as an
opportunity to diversify into the trade of various other items including
photographic color films, chemicals, metals, yarns, textiles and more. The
period from 1979-82 again presented an opportunity to the Group as silver
prices witnessed an unprecedented spurt, which led to heavy arrivals of scrap
silver coins from China to Hong Kong. The Group utilized this prospect to
penetrate further in the international Bullion market by setting up overseas
offices in Hong Kong and
Once the liberalization of the early 90s led to the permission of importing Gold and Silver, the Group, following its policy to acclimatize, took to its core business. Ever since, the flagship company of the Group, MD Overseas Ltd., has displayed a steady rise in turnover, much to the satisfaction of shareholders and stakeholders, alike. The average turnover of last three years ending as on 31st March, 2010 stood at around INR 100 Billion ($ 2.20 bn).
Carrying out operations from two major SEZs and maintaining
offices in the major bullion centers in the country including
Due to its extensive presence, the Group enjoys substantial limits and close professional associations with most major public and private sector banks which has assisted in bargaining excellent pricing and service.
Commencing with a world-class residential project 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.52.52 |
|
|
1 |
Rs.85.49 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.