|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHARAM EXPORT (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
15-16, Gayatri
Industrial Estate, Near Gayatri Temple, Vasta Devi Road, Katargam, Surat –
395004, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.03.2011 |
|
|
|
|
Com. Reg. No.: |
04-064485 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.300
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910GJ2011PTC064485 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTD03199A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer of Rough Diamonds and also Manufacturer, Exporter and Local
Trader of Cut and Polished Diamonds. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 230000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is considered by the company’s small size of operations and
high financial risk profile as characterized by low profitability margins and
working capital intensive nature of operations in diamond processing segment.
However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit – Cash Credit : B+ |
|
Rating Explanation |
Risk prone credit quality and high credit
risk. |
|
Date |
September 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. Dhaval |
|
Designation : |
Manager |
|
Contact No.: |
91-261-2609936 |
|
Date : |
23.12.2013 |
LOCATIONS
|
Registered Office\ Factory : |
15-16, Gayatri
Industrial Estate, Near Gayatri Temple, Vasta Devi Road, Katargam, Surat –
395004, Gujarat, India |
|
Tel. No.: |
91- 261-2537475/ 2537476/ 2609936 |
|
Fax No.: |
91- 261-2532094 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
105, Shreeji Chambers,Opera House,Charni Road, Mumbai -
400004, Maharashtra, India |
|
Tel. No.: |
91-22-32608087 |
|
Fax No.: |
91-22-23629744 |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Gajendrakumar Dharamshibhai Bhikadia |
|
Designation : |
Director |
|
Address : |
34, Jeevan Deep Society, Katargam, Singanpore Road, Surat - 395008,
Gujarat, India |
|
Date of Birth/Age : |
30.08.1975 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03382375 |
|
|
|
|
Name : |
Mr. Upendrabhai Virjibhai Bhikadiya |
|
Designation : |
Director |
|
Address : |
35, Jeevan Deep Society, Opposite Ashok Nagar, Katargam, Singanpore
Road, Surat - 395004, Gujarat, India |
|
Date of Birth/Age : |
16.03.1970 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03393928 |
|
|
|
|
Name : |
Mr. Arjanbhai Virabhai Bhikadia |
|
Designation : |
Director |
|
Address : |
67, Ashok Nagar Society, Katargam, Singanpore Road, Surat - 395004,
Gujarat, India |
|
Date of Birth/Age : |
04.06.1966 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03393958 |
|
|
|
|
Name : |
Mr. Karamshibhai Bhikadiya |
|
Designation : |
Director |
|
Address : |
Sy No 34/A Plot-15/16 Ground Floor, Gayatri Industrial Estate, Near
Gayatri Mandir, Vasta Devadi Road, Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
11.02.1952 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03394003 |
|
|
|
|
Name : |
Mr. Premjibhai Bhikadiya |
|
Designation : |
Director |
|
Address : |
Sy No 16, Plot - 36, Ashoknagar Housing Society, Singanpore Katargam
Road, Surat - 395004, Gujarat, India |
|
Date of Birth/Age : |
30.03.1965 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03394048 |
|
|
|
|
Name : |
Mr. Kantilal Virabhai Bhikadia |
|
Designation : |
Director |
|
Address : |
38, Ashok Nagar Society, Katargam, Singanpore Road, Surat - 395004,
Gujarat, India |
|
Date of Birth/Age : |
06.05.1967 |
|
Date of Appointment : |
18.03.2011 |
|
DIN No.: |
03394067 |
|
|
|
|
Name : |
Mr. Jayeshbhai Nagjibhai Bhkadiya |
|
Designation : |
Director |
|
Address : |
Plot No-1, Jivan Dip Society, Singhanpore Road, Katargam, Surat -
395004, Gujarat, India |
|
Date of Birth/Age : |
14.09.1975 |
|
Date of Appointment : |
22.04.2013 |
|
DIN No.: |
06551147 |
KEY EXECUTIVES
|
Name : |
Mr. Dhaval |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Arjanbhai Virabhai Bhikadia |
|
1230000 |
|
Upendrabhai Virjibhai Bhikadiya |
|
600000 |
|
Premjibhai Bhikadiya |
|
600000 |
|
Karamshibhai Bhikadiya |
|
600000 |
|
Kantilal Virabhai Bhikadia |
|
600000 |
|
Gajendrakumar Dharamshibhai Bhikadia |
|
600000 |
|
Amit Nagjibhai Bhikadia |
|
600000 |
|
|
|
|
|
Total |
|
4830000 |
AS ON 10.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of Rough Diamonds and also Manufacturer, Exporter and Local
Trader of Cut and Polished Diamonds. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Belgium Hong Kong |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
Abhay Gems |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of India, Begampura Branch, Near Moti Talkies,
Surat - 395003, Gujarat, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K A Sanghavi and Company Chartered Accountants |
|
Address : |
504, Jolly Plaza, Beside Govt Polytechnic College, Athwagate,
Surat –
395001, Gujarat, India |
|
Tel. No.: |
91-261-2461168/ 6642747 |
|
Mobile No.: |
91-9925110405 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFK1866G |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,830,000 |
Equity Shares |
Rs. 10/- each |
Rs. 48.300
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
48.300 |
12.600 |
0.756 |
|
(b) Reserves & Surplus |
10.027 |
4.625 |
0.000 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
58.327 |
17.225 |
0.756 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.382 |
6.455 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.020 |
0.014 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.402 |
6.469 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
46.411 |
30.017 |
0.000 |
|
(b)
Trade payables |
100.114 |
214.849 |
0.000 |
|
(c)
Other current liabilities |
1.387 |
1.937 |
0.000 |
|
(d) Short-term
provisions |
0.754 |
0.656 |
0.000 |
|
Total Current
Liabilities (4) |
148.666 |
247.459 |
0.000 |
|
|
|
|
|
|
TOTAL |
208.395 |
271.153 |
0.756 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.465 |
0.469 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.608 |
|
(b) Non-current Investments |
0.023 |
0.023 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.500 |
3.500 |
0.000 |
|
(e) Other
Non-current assets |
0.378 |
0.504 |
0.000 |
|
Total Non-Current
Assets |
4.366 |
4.496 |
0.608 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
103.348 |
167.130 |
0.000 |
|
(c)
Trade receivables |
100.008 |
98.402 |
0.000 |
|
(d) Cash
and cash equivalents |
0.385 |
0.969 |
0.148 |
|
(e) Short-term
loans and advances |
0.248 |
0.131 |
0.000 |
|
(f)
Other current assets |
0.040 |
0.025 |
0.000 |
|
Total
Current Assets |
204.029 |
266.657 |
0.148 |
|
|
|
|
|
|
TOTAL |
208.395 |
271.153 |
0.756 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
513.061 |
447.584 |
0.000 |
|
|
|
Other Income |
10.921 |
7.333 |
0.000 |
|
|
|
TOTAL |
523.982 |
454.917 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
438.892 |
395.900 |
0.000 |
|
|
|
Purchases of stock in trade |
29.087 |
12.037 |
0.000 |
|
|
|
Changes in inventories of goods |
(21.569) |
(35.792) |
0.000 |
|
|
|
Other Expenses |
69.599 |
76.018 |
0.000 |
|
|
|
TOTAL |
516.009 |
448.163 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.973 |
6.754 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.112 |
0.059 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.861 |
6.695 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.459 |
2.070 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.402 |
4.625 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
362.818 |
156.160 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.68 |
3.67 |
0.00 |
|
Expected Sales (2013-2014): Rs. 490.000 Millions
The above information has been parted by Mr. Dhaval (Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.03
|
1.02 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.53
|
1.50 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77
|
2.47 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.39 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.82
|
2.12 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.08 |
0.00 |
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 |
Yes |
|
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 |
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.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10291586 |
27/10/2012 * |
47,900,000.00 |
STATE BANK OF INDIA |
BEGAMPURA BRANCH, NEAR MOTI TALKIES, SURAT - 395003, GUJARAT, INDIA |
B61486783 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Amit Nagjibhai Bhikadia |
0.000 |
0.120 |
|
Arjanbhai Virabhai Bhikadia |
0.000 |
0.121 |
|
Gajendrakumar Dharamshibhai Bhikadia |
0.000 |
0.120 |
|
Kantilal Virabhai Bhikadia |
0.000 |
0.120 |
|
Karamshibhai Bhikadiya |
0.000 |
0.120 |
|
Premjibhai Bhikadiya |
0.000 |
0.120 |
|
Upendrabhai Virjibhai Bhikadiya |
0.000 |
0.120 |
|
Others Arjanbhai Virabhai Bhikadia HUF |
0.754 |
0.664 |
|
Jayeshbhai N. Patel HUF |
0.271 |
0.000 |
|
Premjibhai Bhikadiya HUF |
0.106 |
4.729 |
|
Varshaben Premjibhai Bhikadiya |
0.251 |
0.221 |
|
|
|
|
|
Total |
1.382 |
6.455 |
BACKGROUND
Subject was incorporated on 18.03.2011 as a private limited company. The
company is engaged in the business of import of rough diamonds, manufacturing, export
and local trading of cut and polished diamonds.
RESULT OF
OPERATIONS
During the year, the company has posted net profit before tax of Rs.
7.862 Millions. The directors are hopeful for the further better operational results
in the years to come.
FIXED ASSETS:
· Plant and Machinery
Air
Conditioner
Computer
Equipments
Computer
Furniture
and Fixture
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. 61.99 |
|
|
1 |
Rs. 101.37 |
|
Euro |
1 |
Rs. 84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.