MIRA
INFORM REPORT
|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHARMANANDAN DIAMONDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bharat Diamond Bourse, FE-7011/12, F Tower, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173674 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.88.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2007PTC173674 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD15331B MUMD12222A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD6676J AACCD0906H |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Diamonds and Diamond studded Jewelery,
Silver and Gold Jewelery and Platinum Jewelery. |
|
|
|
|
No. of Employees
: |
6700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16000000 |
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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 successor of Dharmanandan Diamonds, a Partnership concern
started in the year 1993. It is an established company having satisfactory track record. There
seems a better growth in the turnover and profitability of the company during
current year. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitment. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety it carry moderate risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety it carry low credit risk. |
|
Date |
January 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Amit Maniyar |
|
Designation : |
Accounts manager |
|
Contact No.: |
91-9892152184 |
|
Date : |
23.04.2013 |
LOCATIONS
|
Registered Office / Head Office : |
Bharat Diamond Bourse, FE-7011/12, F Tower, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
|
Tel. No.: |
91-22-40041111/ 40041001 / 2 / 3 / 4 |
|
Mobile No.: |
91-9892152184 (Mr. Amit Maniyar) |
|
Fax No.: |
91-22-42535353/ 66355533 |
|
E-Mail : |
|
|
Website : |
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|
Area: |
2800 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Behind Patel Faliya, Gotalawadi, |
|
Tel. No.: |
91-261-2533777 |
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Fax No.: |
91-261-2533775 |
|
Area: |
161000 Sq. ft |
|
Location: |
Owned |
|
|
|
|
Overseas Office : |
Located at ·
Hong Kong ·
Belgium ·
USA |
DIRECTORS
As on: 26.07.2011
|
Name : |
Mr. Laljibhai Tulshibhai Patel |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
52, Narayanmuni Nagar, |
|
Date of Birth/Age : |
28.11.1955 |
|
Qualification : |
B. Com. |
|
Experience : |
36 Years |
|
PAN No.: |
ABLPP4845J |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01539972 |
|
|
|
|
Name : |
Mr. Tulsibhai Keshavbhai Patel |
|
Designation : |
Director |
|
Address : |
57, Narayanmuni Nagar, |
|
Date of Birth/Age : |
11.07.1950 |
|
Qualification : |
B. Com. |
|
Experience : |
41 Years |
|
Date of Appointment : |
31.08.2007 |
|
PAN No.: |
ABLPP4844K |
|
DIN No : |
01540000 |
|
|
|
|
Name : |
Mr. Dayalbhai Keshavbhai Patel |
|
Designation : |
Director |
|
Address : |
56, Narayanmuni Nagar, |
|
Date of Birth/Age : |
11.03.1954 |
|
Qualification : |
B. Com. |
|
Experience : |
37 Years |
|
PAN No.: |
ABCPP1172H |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01540092 |
|
|
|
|
Name : |
Mr. Prakashbhai Tulsibhai Goti |
|
Designation : |
Director |
|
Address : |
12/A, Ramesh Niwas, 51-C, |
|
Date of Birth/Age : |
28.09.1973 |
|
Qualification : |
B. Com. |
|
Experience : |
19 Years |
|
Date of Appointment : |
31.08.2007 |
|
PAN No.: |
ABJPP3476D |
|
DIN No : |
01540039 |
|
Voter ID No.: |
JRW0920025 |
|
|
|
|
Name : |
Mr. Sanjaykumar Jerambhai Virani |
|
Designation : |
Director |
|
Address : |
E-1, Rock View Apartment, |
|
Date of Birth/Age : |
20.02.1976 |
|
Qualification : |
B. Com. |
|
Experience : |
16 Years |
|
Date of Appointment : |
31.08.2007 |
|
PAN No.: |
AGBPG3688H |
|
DIN No : |
01660345 |
|
Voter ID No.: |
JRW1202308 |
|
|
|
|
Name : |
Mr. Hiteshkumar Laljibhai Patel |
|
Designation : |
Director |
|
Address : |
52, Narayanmuni Nagar, |
|
Date of Birth/Age : |
31.05.1979 |
|
Qualification : |
B. Com. |
|
Experience : |
12 Years |
|
PAN No.: |
AANPP3560B |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01660527 |
|
Voter ID No.: |
DCF1417450 |
|
|
|
|
Name : |
Mr. Piyushkumar Laljibhai Patel |
|
Designation : |
Director |
|
Address : |
51-52, Narayanmuni Nagar, |
|
Date of Birth/Age : |
04.05.1982 |
|
Qualification : |
B. Com. |
|
Experience : |
9 Years |
|
Date of Appointment : |
31.08.2007 |
|
PAN No.: |
AGKPP8563D |
|
DIN No : |
00858190 |
|
|
|
|
Name : |
Mr. Shailesh Dayalbhai Goti |
|
Designation : |
Director |
|
Address : |
56, Narayanmuni Nagar, |
|
Date of Birth/Age : |
09.10.1984 |
|
Qualification : |
B. Com. |
|
Experience : |
8 Years |
|
Date of Appointment : |
31.08.2007 |
|
PAN No.: |
AGBPG3688H |
|
DIN No : |
00858206 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Maniyar |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on: 26.07.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Laljibhai Tulshibhai Patel |
|
1000000 |
|
Tulsibhai Keshavbhai Patel |
|
210000 |
|
Dayalbhai Keshavbhai Patel |
|
500000 |
|
Prakashbhai Tulsibhai Goti |
|
560000 |
|
Sanjaykumar Jerambhai Virani |
|
350000 |
|
Hiteshkumar Laljibhai Patel |
|
833500 |
|
Piyushkumar Laljibhai Patel |
|
778000 |
|
Shailesh Dayalbhai Goti |
|
618500 |
|
Total |
|
4850000 |
|
Names of Shareholders (Preference Shares) |
|
No.
of Shares |
|
Dharmanandan
Industries Limited, India |
|
1000000 |
|
Nirmalaben Laljibhai Patel |
|
400000 |
|
Rashmitaben Hiteshbhai Patel |
|
636500 |
|
Dharaben Piyushbhai Patel |
|
692000 |
|
Manjulaben Dayalbhai Patel |
|
60000 |
|
Komalben Saileshbhai Patel |
|
361500 |
|
Total |
|
3150000 |
As on 15.12.2011
|
Names of Equity Shareholders (Allottees) |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
110000 |
|
Hiteshkumar Laljibhai Patel |
115500 |
|
Piyushkumar Laljibhai Patel |
115500 |
|
Tulsibhai Keshavbhai Patel |
16500 |
|
Prakashbhai Tulsibhai Goti |
44000 |
|
Dayalbhai Keshavbhai Patel |
44000 |
|
Shaileshbhai Dayalbhai Patel |
77000 |
|
Sanjaykumar Jerambhai Virani |
27500 |
|
Total |
550000 |
As on 15.09.2011
|
Names of Equity Shareholders (Allottees) |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
60000 |
|
Hiteshkumar Laljibhai Patel |
63000 |
|
Piyushkumar Laljibhai Patel |
63000 |
|
Tulsibhai Keshavbhai Patel |
9000 |
|
Prakashbhai Tulsibhai Goti |
24000 |
|
Dayalbhai Keshavbhai Patel |
24000 |
|
Shaileshbhai Dayalbhai Patel |
42000 |
|
Sanjaykumar Jerambhai Virani |
15000 |
|
Total |
300000 |
As on: 26.04.2012
|
Names of Equity Shareholders (Allottees) |
No. of Shares |
|
Laljibhai Tulsibhai Patel |
60000000 |
|
Hiteshbhai Laljibhai Patel |
63000000 |
|
Piyushbhai Laljibhai Patel |
63000000 |
|
Tulsibhai Keshavbhai Patel |
9000000 |
|
Prakashbhai Tulsibhai Patel |
24000000 |
|
Dayalbhai Keshavbhai Patel |
24000000 |
|
Shaileshbhai Dayalbhai Patel |
42000000 |
|
Sanjaybhai Jerambhai Virani |
15000000 |
|
Total |
300000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.07.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamonds and Diamond studded Jewelery,
Silver and Gold Jewelery and Platinum Jewelery. |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds and Diamond studded Jewelery, Silver and Gold Jewelery and
Platinum Jewelery. |
|
Countries : |
·
Europe ·
USA ·
Hong Kong ·
Israel ·
Asia ·
Belgium |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Israel ·
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
No. of Employees : |
6700 (Approximately) |
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|
Bankers : |
· State Bank of India, Diamond Branch, Majestic Shopping Centre, 144, J S S Marg, Girgaum,, Mumbai - 400004, Maharashtra, India · Bank of India · Union Bank of India · Bank of Baroda · ADB Bank · Royal Bank of Scotland · Standard Chartered Bank · Central bank of India · State Bank of Patiala · IDBI Bank Limited · Dena Bank |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
Total
Working Capital facility is Rs.8500.000 Millions (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajiv N Shah and Associates Chartered Accountants |
|
Address : |
A-001, Shreenath Darshan, Off |
|
PAN No.: |
AAFPS01156E |
|
|
|
|
Subsidiary company
: |
·
DDL Investment Limited |
|
|
|
|
Others : |
· Dharm Diam B.V.B.A. · Dharam Creation (HK) Limited · Dharm Diamonds Israel Limited · Dharm International LLC |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Dharm Exim · Gunjan Export |
CAPITAL STRUCTURE
As on: 28.09.2012
Authorised Capital : Rs.100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.94.750
Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7850000 |
Equity Shares |
Rs.10/- each |
Rs.78.500
Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
Total |
|
Rs.88.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
88.500 |
80.000 |
60.000 |
|
|
2] Share Application Money |
300.000 |
600.000 |
530.000 |
|
|
3] Reserves & Surplus |
3613.394 |
2298.652 |
1330.212 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4001.894 |
2978.652 |
1920.212 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6415.592 |
4501.701 |
3099.693 |
|
|
2] Unsecured Loans |
1657.049 |
1306.287 |
833.398 |
|
|
TOTAL BORROWING |
8072.641 |
5807.988 |
3933.091 |
|
|
DEFERRED TAX LIABILITIES |
11.977 |
0.000 |
111.374 |
|
|
|
|
|
|
|
|
TOTAL |
12086.512 |
8786.640 |
5964.677 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1801.972 |
1477.056 |
1413.692 |
|
|
Capital work-in-progress |
53.734 |
205.750 |
66.268 |
|
|
|
|
|
|
|
|
INVESTMENT |
736.911 |
477.754 |
24.668 |
|
|
DEFERREX TAX ASSETS |
0.000 |
24.884 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4618.095
|
4034.602 |
1985.708
|
|
|
Sundry Debtors |
7400.477
|
4999.545 |
4421.286
|
|
|
Cash & Bank Balances |
635.426
|
138.602 |
137.707
|
|
|
Other Current Assets |
0.405
|
0.486 |
9.296
|
|
|
Loans & Advances |
177.985
|
111.755 |
113.721
|
|
Total
Current Assets |
12832.388
|
9284.990 |
6667.718 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3314.547
|
2658.061 |
2148.954 |
|
|
Other Current Liabilities |
23.946
|
16.843 |
10.115
|
|
|
Provisions |
0.000
|
8.890 |
49.167
|
|
Total
Current Liabilities |
3338.493
|
2683.794 |
2208.236 |
|
|
Net Current Assets |
9493.895
|
6601.196 |
4459.482
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.567 |
|
|
|
|
|
|
|
|
TOTAL |
12086.512 |
8786.640 |
5964.677 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
19361.260 |
12678.500 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
23952.050 |
19361.260 |
12678.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
18714.880 |
12094.500 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
22385.970 |
18714.880 |
12094.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1566.080 |
646.380 |
584.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
287.690 |
130.920 |
141.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1278.390 |
515.460 |
442.370 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.170 |
90.930 |
52.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1211.220 |
424.530 |
389.590 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
187.980 |
(33.910) |
31.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1023.240 |
458.440 |
358.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
131.840 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
NA |
NA |
490.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value Export |
19810.490 |
16605.750 |
11330.050 |
|
|
TOTAL EARNINGS |
19810.490 |
16605.750 |
11330.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of Imports on CIF basis |
20020.980 |
18377.920 |
11245.430 |
|
|
TOTAL IMPORTS |
20020.980 |
18377.920 |
11245.430 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
115.62 |
57.31 |
59.73 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
28500.000 |
|
|
|
|
|
Expected Sales (2013-14) : Rs.30000.000 Millions
The above information has been parted by Mr. Amit Maniyar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.27
|
2.37 |
2.83
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.28
|
3.94 |
4.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.14 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.02
|
1.95 |
2.05
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.84
|
3.46 |
3.02
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Creditors Due to Others |
3314.547
|
2658.061 |
2148.954 |
|
|
|
|
|
|
Total |
3314.547
|
2658.061 |
2148.954 |
|
Sr. No. |
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 |
Yes |
|
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 |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
Registered Office of the company has been shifted from “G-14, Prasad
Chambers, Opera House, Mumbai – 400 004,
TURNOVER AND PROFITS:
During the financial year ended March 31, 2012 the Sales & Other income of the company increased from Rs. 19,361.26 Millions to Rs. 23,952.05 Millions. The Net Profit before tax stood at Rs. 1211.22 Millions as against Rs. 424.53 Millions in the previous year.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
Loans and advances from related parties |
1657.049 |
1306.287 |
|
Total |
1657.049 |
1306.287 |
BUSINESS:
A. DIAMOND AND
JEWELLERY
The Company is making conscientious efforts in addressing the large market opportunities that exist in the Diamond Segment both in India and abroad. India, China, Israel and Belgium are the leading players in the diamond cutting and polishing industry. India accounts for 60 % of the global polished diamonds in value terms, 80 % in carats polished and 90 % in pieces.
Exports of Gems and jewellery are also on the upswing. Large opportunities exist in exports by converting diamond into jewellery before exports.
The Company has quality sourcing facilities accruing to competitive prices and consistent market demand. Modern processing facilities are located at Surat, Gujarat with three operational polishing units, a workforce of 3156 people and a monthly production of 40,000 to 41,000 Carats of Cut and Polish Diamonds.
The Company engages in an end-to-end diamond processing chain which begins with Assortment, Planning, Cleaving, Sawing, Cutting and finally Polishing which is more clearly shown in the chart given here below.
Diamond export countries include the U.S., Hong Kong, Belgium, Japan, Middle East, Far East, Europe, Thailand and Singapore.
B. POWER GENERATION
They seriously understand the present situation of global warming and they believe it is their responsibility to protect globe by whatever possible activities and for that they have been generating their own electricity by mean of eco-friendly wind which are located at several wind fields in Gujarat and Maharashtra states, and they are continuously exploring the possibility and potentials for enhancing the present exposure of DDPL in
tapping the renewable power source in near future.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36912MH2007PTC173674 |
|
Name of the
company |
DHARMANANDAN DIAMONDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No-Fe 7011-12, F-Tower, Bharat Diamond Bourse, G-Block, Bandra Kurla Complex, Bandra-East, Mumbai – 400051, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10091658 |
|
Type of charge |
Immovable property |
|
Particular of charge
holder |
State Bank of
India, Diamond Branch, D/3, West Core, G Block, Bharat Diamond Bourse, BKC,
Bandra – East, Mumbai – 400051, Maharashtra, India |
|
Nature of instrument
creating charge |
No Instruments,
Supplement Deed of Mortgage. |
|
Date of
instrument Creating the charge |
12.12.2012 |
|
Amount secured by
the charge |
Rs.8500.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As mentioned in
the respective consortium banks sanction letters. Terms of Repayment As mentioned in
the respective consortium banks sanction letters. Margin As mentioned in
the respective consortium banks sanction letters. Extent and Operation of the charge As mentioned in
the respective consortium banks sanction letters. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Borrower's current assets namely stocks of raw materials, stocks in process, semi finished and finished goods, stores and spares not relating to the plant and machinery (Consumable stores and spares), bill receivables and book debts and all other movables, both present and future whether now lying loose or in case or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about of the Borrower's factories, premises and godowns situated at Mumbai, in the state of maharashtra, or anywhere else the same may be or be held by any party to the order or disposition of the borrower or in the course of transit or on high seas or on order or delivery, howsoever and wheresoever in the possession of the Borrower and either by way of substitution or addition. |
|
Date of
instrument modifying the charge |
12.12.2012 |
|
Particulars of
the present modification |
Memo. of Entry Was Executed By State Bank of India (SBI), SBI Acting For Itself and As An Agent of The Royal Bank of Scotland, Union Bank of India, Dena Bank, IDBI Bank Limited, Antwerp Diamond Bank N.V., Central Bank of India, State Bank of Patiala, Bank of Baroda, Bank of India And Standard Chartered Bank By Way of An Registered Mortgage By Way of First Charge By Deposit of Title Deeds Over The Immov. Prop. To Secure Its Extended Limits of Rs. 8500.000 Millions (Desc. of Property Is As Per Mortgage Deed). |
FIXED ASSETS:
· Plant and Machinery
· Computer Systems
· Furniture and Fixtures
· Vehicles
· Office Premises
· Land
· Factory Building
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 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 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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.