|
Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRECISE GEM AND JEWEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-27, Gem and Jewellery Complex III, 1st Floor, Seepz,
Andheri (East), Mumbai – 400096, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2007 |
|
|
|
|
Date of
Incorporation : |
24.08.1992 |
|
|
|
|
Com. Reg. No.: |
11-068260 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH1992PTC068260 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15815C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3242N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diamond Studded Gold Jewellery. (Closed Down) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Closed Company |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
As claim by Mr. Jay Dalal (Director) the company is being closed in
the year February 2008. Due to labour issues and no business activities were
carried out by the company. The company cannot be considered for business dealings. |
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) |
|
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Jay Dalal |
|
Designation : |
Director |
|
Contact No.: |
91-9820075112 |
|
Date : |
03.12.2013 |
LOCATIONS
|
Registered Office/ Factory : |
G-27, Gem and Jewellery Complex III, 1st Floor, Seepz,
Andheri (East), Mumbai – 400096, Maharashtra, India |
|
Tel. No.: |
91-22-28292580/ 28290920/ 28292396/ 28292393 |
|
Mobile No.: |
91-9820075112 (Mr. Jay) |
|
Fax No.: |
91-22-28214920/ 28291394/ 23630657 |
|
E-Mail : |
DIRECTORS
(AS ON 29.09.2007)
|
Name : |
Mr. Jai Suresh Dalal |
|
Designation : |
Director |
|
Address : |
Dalal House, |
|
Date of Birth/Age : |
21.05.1965 |
|
Date of Appointment : |
24.08.1992 |
|
|
|
|
Name : |
Mrs. |
|
Designation : |
Director |
|
Address : |
Dalal House, |
|
Date of Birth/Age : |
29.07.1966 |
|
Date of Appointment : |
24.08.1992 |
|
|
|
|
Name : |
Mrs. |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
29.04.1960 |
|
Date of Appointment : |
02.12.1993 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Amrita J. Dalal |
|
1,000 |
|
Jai S. Dalal (Jt.
A/c) |
|
99,000 |
|
Amrita J. Dalal
(Jt. A/c) |
|
99,900 |
|
Anupama S. |
|
1,00,000 |
|
Pravin M. |
|
40,000 |
|
Sanyukta P. |
|
40,000 |
|
Amit P. |
|
20,000 |
|
Dilip M. |
|
40,000 |
|
Jai S. Dalal |
|
100 |
|
Shobhana D.
Nanavati |
|
40,000 |
|
Amar D. Nanavati |
|
10,000 |
|
Sonali A. |
|
10,000 |
|
|
|
|
|
Total |
|
4,00,001 |
(AS ON 30.09.2007)
Equity Shares Break – up
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Studded Gold Jewellery. (Closed Down) |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2007)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Studded Gold Jewellery. |
Pcs. |
60,000 |
NA |
11,114 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Dena Bank Industrial
Finance Branch, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Nissim and Company (Samir Mehta) Chartered Accountants |
|
Address : |
Barodwala Mansion, B Wing, 3rd Floor, 81 Annie Besant Road,
Worli, Mumbai – 400018, Maharashtra, India |
|
Tel No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
PAN No.: |
ABQPM3323Q |
|
Email : |
|
|
Website : |
CAPITAL STRUCTURE
(AS ON 29.09.2007)
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 |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
7.241 |
25.690 |
|
|
4] (Accumulated Losses) |
(19.184) |
0.000 |
0.000 |
|
|
NETWORTH |
(14.184) |
12.241 |
30.690 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
40.275 |
42.887 |
42.178 |
|
|
2] Unsecured Loans |
17.632 |
4.957 |
3.779 |
|
|
TOTAL BORROWING |
57.907 |
47.844 |
45.957 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.188 |
|
|
|
|
|
|
|
|
TOTAL |
43.723 |
60.085 |
76.647 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.634 |
10.497 |
11.046 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.119 |
0.118 |
0.118 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.506
|
31.610 |
43.525 |
|
|
Sundry Debtors |
33.229
|
17.044 |
41.524 |
|
|
Cash & Bank Balances |
2.988
|
5.629 |
4.785 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.044
|
44.947 |
44.593 |
|
Total
Current Assets |
99.767
|
99.230 |
134.427 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
60.708
|
45.096 |
64.704 |
|
|
Other Current Liabilities |
4.795
|
4.505 |
2.052 |
|
|
Provisions |
0.294
|
0.159 |
0.000 |
|
Total
Current Liabilities |
65.797
|
49.760 |
66.756 |
|
|
Net Current Assets |
33.970
|
49.470 |
67.671 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43.723 |
60.085 |
78.835 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Export Sales |
93.354 |
88.296 |
325.613 |
|
|
|
Other Income |
0.752 |
1.135 |
0.512 |
|
|
|
Sundry Credit/ Debit Balance Written Back |
0.000 |
5.105 |
0.000 |
|
|
|
TOTAL (A) |
94.106 |
94.536 |
326.125 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Stock of Finished Goods and Work in Process |
3.084 |
1.061 |
0.802 |
|
|
|
Materials Consumed |
82.979 |
81.295 |
282.572 |
|
|
|
Personnel Expenses |
11.284 |
15.105 |
20.358 |
|
|
|
Manufacturing and Other Expenses |
14.869 |
11.560 |
18.485 |
|
|
|
Prior Period Adjustment |
0.013 |
0.051 |
0.025 |
|
|
|
TOTAL (B) |
112.229 |
109.072 |
322.242 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(18.123) |
(14.536) |
3.883 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.306 |
5.079 |
5.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(25.429) |
(19.615) |
(1.803) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.861 |
0.862 |
0.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(26.290) |
(20.477) |
(2.692) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.135 |
(2.028) |
0.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(26.425) |
(18.449) |
(2.608) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
81.207 |
87.417 |
323.842 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.434 |
12.682 |
160.747 |
|
|
|
Stores and Spares |
0.000 |
0.000 |
0.363 |
|
|
|
Capital Goods |
0.000 |
0.197 |
0.000 |
|
|
TOTAL IMPORTS |
11.434 |
12.879 |
161.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(52.85) |
(36.90) |
(5.22) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
(28.08)
|
(19.52) |
(0.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(28.16)
|
(23.19) |
(0.83) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.03)
|
(18.66) |
(1.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.85
|
(1.67) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(4.08)
|
3.91 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.99 |
2.01 |
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 |
No |
|
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 |
No |
|
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 |
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 |
No |
|
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 |
No |
UNSECURED LOANS
|
Particulars |
31.03.2007 |
31.03.2006 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
From Directors |
3.126 |
2.921 |
|
From Corporate Bodies |
13.450 |
2.036 |
|
From Relatives of Directors |
1.056 |
0.000 |
|
|
|
|
|
Total |
17.632 |
4.957 |
INDEX OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/ Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
90154082 |
05/01/2005 |
1,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
2 |
90153921 |
09/11/2004
* |
30,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
3 |
90153884 |
20/03/2002 |
2,500,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
4 |
90153855 |
01/11/2001 |
2,500,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
5 |
90153753 |
29/08/2000 |
5,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
6 |
90153641 |
15/09/1999 |
2,500,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
7 |
90153054 |
12/05/2000
* |
14,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, MAKER TOWERS; CUFFE PA |
- |
|
8 |
90153035 |
01/04/2003
* |
14,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, MAKER TOWERS; CUFFE PA |
- |
* Date of charge modification
FIXED ASSETS:
· Plant and Machineries
· Furniture and Fixtures
· Electrical Installations
· Office Equipment
· Computers
· Motor Car
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.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
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.