MIRA
INFORM REPORT
|
Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE RAMKRISHNA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
EE-6011, Bharat Diamond Bourse, "G" Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400005, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Partnership Concern) |
|
|
|
|
Date of
Incorporation : |
02.04.2012 |
|
|
|
|
Com. Reg. No.: |
55-229115 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1800.000 Millions (Partnership Concern) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2012PTC229115 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Diamonds. |
|
|
|
|
No. of Employees
: |
3000 (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 8800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a proprietary concern in 1964 and during
1976 it got converted into a partnership concern. In April 2012, the concern
got converted unto a private limited. It has a satisfactory track record. It has established market position in the cut and polished diamond
industry. The financial position of the company is good. Performance
capability is also high. Trade relations are fair. Business is active. Payment terms are
usually correct and as per commitment. The company can be considered for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 04, 2012 |
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 [GENERAL DETAILS]
|
Name : |
Mr. Hitesh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-40405555 |
|
Date : |
10.08.2013 |
LOCATIONS
|
Registered Office : |
EE-6011, Bharat Diamond Bourse, "G" Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400005, Maharashtra, India |
|
Tel. No.: |
91-22-40405555 |
|
Fax No.: |
91-22-40405500 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
'SRK Empire', 99,
Vastadevdi Road, Katargam, Surat - 395004, Gujarat, India |
|
Tel. No.: |
91-261-4040555 |
|
Fax No.: |
91-261-4040550 |
|
E-Mail : |
DIRECTORS
AS ON 15.03.2012
|
Name : |
Mr. Govindbhai Laljibhai Dholakia |
|
Designation : |
Director |
|
Address : |
801-A, Tirupati Apartment, Amar Building, Bhulabhai Desai Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1947 |
|
DIN No.: |
00524146 |
|
|
|
|
Name : |
Mr. Shreyansh Govindbhai Dholakia |
|
Designation : |
Director |
|
Address : |
801-A, Tirupati Apartment, Amar Building, Bhulabhai Desai Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
21.05.1987 |
|
DIN No.: |
00523418 |
|
|
|
|
Name : |
Mr. Jayantibhai Vashrambhai Narola |
|
Designation : |
Director |
|
Address : |
54, Kantareshwar Society, Katar Gam Road, Surat – 395004, Gujarat,
India |
|
Date of Birth/Age : |
05.06.1964 |
|
DIN No.: |
00587167 |
|
|
|
|
Name : |
Mrs. Champaben Govindbhai Dholakia |
|
Designation : |
Director |
|
Address : |
801-A, Tirupati Apartment, Amar Building, Bhulabhai Desai Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
23.09.1954 |
|
DIN No.: |
00524249 |
|
|
|
|
Name : |
Mr. Rahul Nagjibhai Dholakia |
|
Designation : |
Director |
|
Address : |
5, Gayatri Nagar Society, 5, Katargam Road, Surat – 395004, Gujarat,
India |
|
Date of Birth/Age : |
12.12.1971 |
|
DIN No.: |
00524017 |
|
|
|
|
Name : |
Mr. Vashrambhai Bhurabhai Narola |
|
Designation : |
Director |
|
Address : |
54, Kantareshwar Society, Katar Gam Road, Surat – 395004, Gujarat,
India |
|
Date of Birth/Age : |
21.03.1942 |
|
DIN No.: |
00523329 |
|
|
|
|
Name : |
Mr. Arjan Lalji Dholakiya |
|
Designation : |
Director |
|
Address : |
8/B, Vallabh Nagar Society ,Varachha Road, Surat – 395006, Gujarat,
India |
|
Date of Birth/Age : |
01.06.1956 |
|
DIN No.: |
00523491 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.03.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Champaben Govindbhai Dholakia |
|
1000000 |
|
Govindbhai Laljibhai Dholakia |
|
3000000 |
|
Arjanbhai Lalji Dholakiya |
|
1500000 |
|
Jayantibhai Vashrambhai Narola |
|
1500000 |
|
Rahulbhai Nagjibhai Dholakia |
|
1000000 |
|
Vashrambhai Bhurabhai Narola |
|
1000000 |
|
Shreyansh Govindbhai Dholakia |
|
1000000 |
|
|
|
|
|
Total |
|
10000000 |
AS ON 04.08.2012
|
Names of Allottees |
|
No. of
Preference Shares |
|
Govindbhai Laljibhai Dholakia |
|
51895800 |
|
Arjanbhai Lalji Dholakiya |
|
16679800 |
|
Champaben Govindbhai Dholakia |
|
13966900 |
|
Vashrambhai Bhurabhai Narola |
|
2129900 |
|
Jayantibhai Vashrambhai Narola |
|
20761100 |
|
Rahulbhai Nagjibhai Dholakia |
|
18120900 |
|
Shreyansh Govindbhai Dholakia |
|
6445600 |
|
|
|
|
|
Total |
|
130000000 |
AS ON 11.04.2012
|
Names of Allottees |
|
No. of Equity
Shares |
|
Govindbhai Laljibhai Dholakia |
|
2400000 |
|
Arjanbhai Lalji Dholakiya |
|
1200000 |
|
Champaben Govindbhai Dholakia |
|
800000 |
|
Vashrambhai Bhurabhai Narola |
|
800000 |
|
Jayantibhai Vashrambhai Narola |
|
1200000 |
|
Rahulbhai Nagjibhai Dholakia |
|
800000 |
|
Shreyansh Govindbhai Dholakia |
|
800000 |
|
|
|
|
|
Total |
|
8000000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Diamonds. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Far East USA Australia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Belgium Israel |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
3000 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India ING Vysya Bank Limited, Patel
Chambers, Sandhurst Bridge, Opera House, Mumbai – 400007, Maharashtra, India Tel. No.: 91-22-23877304 Bank of India, Bharat Diamond
Bourse Br.,D-2/D-4, Ground Floor, West Core, "G" Block, B.K.C,
Bandra (East), Mumbai - 400051, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
SHREE RAMKRISHNA EXPORT (Partnership Concern)
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Surana and Associates Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
130,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1300.000 Millions |
|
|
Total |
|
Rs. 1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000
Millions |
|
130,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1300.000 Millions |
|
|
Total |
|
Rs. 1480.000 Millions |
SHREE RAMKRISHNA EXPORT
(Partnership
Concern)
|
Partner Funds |
Rs.
In Millions |
|
Fixed |
100.000 |
|
Current |
1700.000 |
|
|
|
|
Total |
1800.000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
SHREE RAMKRISHNA EXPORT
(Partnership
Concern)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner Capital |
1800.000 |
1868.202 |
1536.743 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
406.961 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2206.961 |
1868.202 |
1536.743 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3480.426 |
3365.661 |
2031.723 |
|
|
2] Unsecured Loans |
575.434 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4055.860 |
3365.661 |
2031.723 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6262.821 |
5233.863 |
3568.466 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1199.680 |
417.695 |
390.512 |
|
|
Capital work-in-progress |
0.000 |
213.486 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
168.461 |
93.461 |
3.461 |
|
|
DEFERREX TAX ASSETS |
1.408 |
1.655 |
1.939 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4032.308
|
3560.650 |
2829.288 |
|
|
Sundry Debtors |
2816.322
|
2259.815 |
1214.460 |
|
|
Cash & Bank Balances |
85.163
|
116.366 |
64.951 |
|
|
Other Current Assets |
3.009
|
2.368 |
2.847 |
|
|
Loans & Advances |
1216.899
|
671.748 |
415.079 |
|
Total
Current Assets |
8153.701
|
6610.947 |
4526.625 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
2623.364
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
637.065
|
378.065 |
308.965 |
|
Total
Current Liabilities |
3260.429
|
2103.381 |
1354.071 |
|
|
Net Current Assets |
4893.272
|
4507.566 |
3172.554 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6262.821 |
5233.863 |
3568.466 |
|
SHREE RAMKRISHNA EXPORT
(Partnership
Concern)
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21579.918 |
16693.571 |
13748.758 |
|
|
|
Other Income |
5.106 |
4.257 |
186.241 |
|
|
|
TOTAL (A) |
21585.024 |
16697.828 |
13934.999 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
18622.761 |
15546.480 |
11621.500 |
|
|
|
Employees remuneration and benefit |
67.406 |
108.244 |
89.630 |
|
|
|
Manufacturing and other Expenses |
1031.842 |
715.050 |
551.228 |
|
|
|
Selling and Distribution Expenses |
359.813 |
345.913 |
257.944 |
|
|
|
Remuneration to Partner |
4.500 |
4.500 |
4.500 |
|
|
|
Increase/ (Decrease) in Stock |
395.695 |
(746.405) |
722.238 |
|
|
|
TOTAL (B) |
20482.017 |
15973.782 |
13247.040 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1103.007 |
724.046 |
687.959 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
141.647 |
84.570 |
125.929 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
961.360 |
639.476 |
562.030 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
145.867 |
73.214 |
67.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
815.493 |
566.262 |
494.633 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
259.246 |
179.784 |
160.366 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
556.247 |
386.478 |
334.267 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR
PERIOD ITEM |
(1.021) |
(0.071) |
0.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXCESS/
(SHORT) PROVISION FOR INCOME TAX RELATING TO EARLIER YEARS (NET) |
(2.028) |
(0.052) |
0.051 |
|
|
|
|
|
|
|
|
|
|
BALANCE
AVAILABLE FOR TRANSFER TO PARTNERS CAPITAL ACCOUNT |
553.198 |
386.355 |
334.745 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
30550.000 |
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.58 |
2.31 |
2.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.78 |
3.39 |
3.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.72 |
8.06 |
10.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.30 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.84 |
1.80 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50 |
3.14 |
3.34 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10439741 |
03/07/2013 |
550,000,000.00 |
BANK OF INDIA |
BHARAT DIAMOND BOURSE
BRANCH, D-2/D-4, WEST CORE, |
B80733769 |
|
2 |
10367137 |
02/07/2012 |
100,000,000.00 |
BANK OF INDIA |
BHARAT DIAMOND
BOURSE BRANCH, D-2/D-4, WEST CORE, |
B44364800 |
|
3 |
10363802 |
02/06/2012 |
780,000,000.00 |
BANK OF INDIA |
BHARAT DIAMOND
BOURSE BRANCH, D-2/D-4, WEST CORE, |
B42933507 |
|
4 |
10353037 |
15/01/2013 * |
8,650,000,000.00 |
BANK OF INDIA |
BHARAT DIAMOND
BOURSE BRANCH, D-2/D-4, WEST CORE, |
B67398909 |
* Date of charge modification
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
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.
-
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 –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market liquidity.
SHREE RAMKRISHNA EXPORT
(Partnership
Concern)
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Unsecured Loans |
575.434 |
0.000 |
|
Total |
575.434 |
0.000 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 61.12 |
|
UK Pound |
1 |
Rs. 94.77 |
|
Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.