MIRA
INFORM REPORT
|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KIRAN GEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
FE-5011, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Indirect Source) |
|
|
|
|
Date of
Incorporation : |
14.09.2007 |
|
|
|
|
Com. Reg. No.: |
11-174133 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs. 245.472 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2007PTC174133 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK17224E SRTK02242C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK1665M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter and Importer of Polish Diamond and Diamond Jewellery |
|
|
|
|
No. of
Employees: |
1700 (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 17000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Kiran Exports, a partnership concern established
in 1985. It is a well established company having a satisfactory track record.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: The financials for the year 2012 are taken from indirect
sources |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August 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
|
Name : |
Ms. Ashwini |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-40504444 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office : |
FE-5011, Bharat Diamond Bourse, “G” Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40504444 |
|
Mobile No.: |
91-9702450410 (Mr. Bhavik) |
|
Fax No.: |
91-22-40504455 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 9, Near |
|
Tel. No.: |
91-261-2554514 / 15 |
|
Fax No.: |
91-261-2552606 |
|
E-Mail : |
|
|
Area : |
2466.82 Square. Meters |
|
|
|
|
Factory 2 : |
217/218, Tarabaug Estate, Opposite Jeevan Dhara Hotel, |
|
Tel. No.: |
91-261-2553983/ 84/85 / 2553983 |
|
Fax No.: |
91-261-2553982 / 2653982 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Mavjibhai Shamjibhai Patel |
|
Designation : |
Director |
|
Address : |
901, 9th Floor, Mayfair Maaya, Maaya Jn. 9th and
11th Road, Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00147902 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36911MH2003PTC142557
|
KIRANMANI
DIAMONDS PRIVATE LIMITED |
Director |
07/10/2003 |
07/10/2003 |
Active |
NO |
|
2 |
U65990MH2006PTC169419
|
KIRANMANI
INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX) |
Director |
09/03/2006 |
09/03/2006 |
Active |
NO |
|
3 |
U36912MH2007PTC174133
|
KIRAN GEMS
PRIVATE LIMITED |
Director |
14/09/2007 |
14/09/2007 |
Active |
NO |
|
4 |
U45201MH2007PTC173573
|
GRANDIOSE
INFRASTRUCTURE VENTURE ENTERPRISES PRIVATE LIMITED |
Director |
29/07/2008 |
24/07/2008 |
Active |
NO |
|
5 |
U51398MH1984NPL033787
|
BHARAT DIAMOND
BOURSE |
Director |
23/12/2010 |
23/12/2010 |
Active |
NO |
|
Name : |
Mr. Dinesh Mavjibhai Lakhani |
|
Designation : |
Director |
|
Address : |
501, Manju Castle Co-Operative Housing Society, Near St. Xavier Road,
Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
22.01.1978 |
|
Qualification : |
H.S.C |
|
Date of Appointment : |
18.09.2007 |
|
DIN No.: |
01833349 |
|
|
|
|
Name : |
Mr. Babubhai Shamjibhai Lakhani |
|
Designation : |
Director |
|
Address : |
A/502, Affil Tower, Lambe Hanuman Road, Varachha Road, Surat–395 006, Gujarat,
India |
|
Date of Birth/Age : |
01.12.1959 |
|
Qualification : |
Non S.S.C |
|
Date of Appointment : |
18.09.2007 |
|
DIN No.: |
00091766 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36910GJ2005PTC047143
|
KIRAN FINE GEMS
PRIVATE LIMITED |
Director |
25/11/2005 |
25/11/2005 |
Active |
NO |
|
2 |
U36912MH2007PTC174133
|
KIRAN GEMS
PRIVATE LIMITED |
Director |
18/09/2007 |
18/09/2007 |
Active |
NO |
|
Name : |
Mr. Labhubhai Shamjibhai Lakhani |
|
Designation : |
Director |
|
Address : |
7, Street No.1, Yogeshwar Society, Anantwadi, Devubaug, |
|
Date of Birth/Age : |
04.07.1951 |
|
Qualification : |
Non S.S.C |
|
Date of Appointment : |
18.09.2007 |
|
DIN No.: |
01807301 |
|
|
|
|
Name : |
Mr. Vallabhbhai Shamjibhai Patel |
|
Designation : |
Director |
|
Address : |
701/702, 7th Floor, Munshi Manor, 174/175, 9 and 10 Road,
Jn. Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1957 |
|
Qualification : |
Non S.S.C |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00091715 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36911MH2003PTC142557
|
KIRANMANI
DIAMONDS PRIVATE LIMITED |
Director |
07/10/2003 |
07/10/2003 |
- |
Active |
NO |
|
2 |
U36911GJ1999PTC035270
|
KERUL AMIT
DIAMOND PRIVATE LIMITED |
Director |
01/04/2005 |
01/04/2005 |
- |
Active |
NO |
|
3 |
U65990MH2006PTC169419
|
KIRANMANI
INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX) |
Director |
09/03/2006 |
09/03/2006 |
- |
Active |
NO |
|
4 |
U36912MH2007PTC174133
|
KIRAN GEMS
PRIVATE LIMITED |
Director |
14/09/2007 |
14/09/2007 |
- |
Active |
NO |
|
5 |
U51398MH1984NPL033787
|
BHARAT DIAMOND
BOURSE |
Director |
29/09/2008 |
29/09/2008 |
23/12/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Ashwini |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Vallabhbhai Shamjibhai Patel/Lakhani |
3103559 |
|
Mavjibhai Shamjibhai Patel/Lakhani |
3203558 |
|
Babubhai Shamjibhai Patel/Lakhani |
2100000 |
|
Laxmiben Vallabhbhai Patel/Lakhani |
500000 |
|
Rasilaben Mavjibhai Patel/Lakhani |
500000 |
|
Varshaben Babubhai Patel/Lakhani |
800000 |
|
Devkunverben Labubhai Patel/Lakhani |
300000 |
|
Labhubhai Shamjibhai Patel/Lakhani |
800000 |
|
Kalpesh Vallabhbhai Patel |
950273 |
|
Munjal Mavjibhai Lakhani |
850270 |
|
Varun Babubhai Lakhani |
621610 |
|
Dinesh Mavjibhai Lakhani |
760000 |
|
Ashishkumar Lakhani |
747636 |
|
TOTAL
|
15236906 |
|
Names of Preference Shareholders |
No. of Shares |
|
Varun Babubhai Lakhani |
800000 |
|
Ashishkumar Lakhani |
400000 |
|
TOTAL
|
1200000 |
AS ON 28.02.2013
|
Names of Allottees (Equity Share) |
No. of Shares |
|
Mavjibhai Shamjibhai Patel/Lakhani |
222223 |
|
Dinesh Mavjibhai Lakhani |
100000 |
|
Kalpesh Vallabhbhai Patel |
122222 |
|
TOTAL
|
444445 |
AS ON 31.12.2012
|
Names of Allottees (Equity Share) |
No. of Shares |
|
Vallabhbhai Shamjibhai Patel/Lakhani |
85715 |
|
Mavjibhai Shamjibhai Patel/Lakhani |
200000 |
|
Kalpesh Vallabhbhai Patel |
200000 |
|
Munjal Mavjibhai Lakhani |
85714 |
|
Rajesh Labhubhai Lakhani |
142857 |
|
TOTAL
|
714286 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of Polish Diamond and Diamond Jewellery |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
·
Polish Diamond ·
Diamond Jewellery |
|
Countries : |
·
Hong Kong ·
USA ·
Germany |
|
|
|
|
Imports : |
|
|
Products : |
·
Polish Diamond ·
Diamond Jewellery |
|
Countries : |
·
Belgium ·
UK |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
1700 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
State Bank of India, 1st Floor,
Majestic Shopping Centre, 144, JSS Marg, Girgaum, Mumbai-400004, Maharashtra,
India ·
Corporation Bank, Overseas Branch, 1st
Floor, Earnest House, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh Rajni and Company Chartered Accountants |
|
Address : |
450, Lamington Road, Purshotam Building 1st Floor, Opera House, Mumbai
– 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23669708/ 23669709/ 23618386 |
|
Fax No.: |
91-22-23631810 |
|
E-Mail : |
|
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
AFTER : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Share |
Rs.10/- each |
Rs. 180.000 Millions |
|
1200000 |
Preference Share |
Rs.100/- each |
Rs. 120.000 Millions |
|
|
TOTAL |
|
Rs. 300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15236906 |
Equity Share |
Rs.10/- each |
Rs. 152.369
Millions |
|
1200000 |
Preference Share |
Rs.100/- each |
Rs. 120.000 Millions |
|
|
TOTAL |
|
Rs. 272.369 Millions |
AS ON: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Share |
Rs.10/- each |
Rs. 130.000 Millions |
|
1200000 |
10% Non-cumulative Convertible Preference Shares |
Rs.100/- each |
Rs. 120.000 Millions |
|
|
TOTAL |
|
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12547153 |
Equity Share |
Rs.10/- each |
Rs. 125.472
Millions |
|
1200000 |
10% Non-cumulative Convertible Preference Shares |
Rs.100/-
each |
Rs. 120.000
Millions |
|
|
Total |
|
Rs. 245.472 Millions |
AS ON: 29.09.2012
Authorised Capital : Rs. 400.000
Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16395637 |
Equity Share |
Rs.10/- each |
Rs. 163.956
Millions |
|
1200000 |
Preference Share |
Rs.100/- each |
Rs. 120.000 Millions |
|
|
TOTAL |
|
Rs. 283.956 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 (Rs. In
Millions) |
|
Working Results |
|
|
Net Sales |
38906.200 |
|
Total Operating income |
38953.600 |
|
PBILDT |
2563.300 |
|
Interest |
1263.100 |
|
Depreciation |
194.500 |
|
PBT |
1119.300 |
|
PAT (after deferred tax) |
767.200 |
|
Gross Cash Accruals |
964.800 |
|
Financial Position |
|
|
Equity Share Capital |
146.400 |
|
Preference Capitalˆ |
120.000 |
|
Net Worth |
6088.700 |
|
Total capital employed |
16855.300 |
|
Key Ratios |
|
|
Growth |
|
|
Growth in Total income (%) |
36.19 |
|
Growth in PAT (after D. Tax) (%) |
29.61 |
|
Profitability |
|
|
PBILDT/Total Op. income (%) |
6.58 |
|
PAT (after deferred tax)/ Total income (%) |
1.97 |
|
ROCE (%) |
15.72 |
|
Solvency |
|
|
Long-term Debt Equity ratio (times) |
0.22 |
|
Overall gearing ratio(times) |
1.77 |
|
Overall gearing ratio(times)** |
1.56 |
|
Interest coverage(times) |
2.04 |
|
Term debt/Gross cash accruals(years) |
1.38 |
|
Liquidity |
|
|
Current ratio(times) |
1.32 |
|
Quick ratio(times) |
0.65 |
|
Turnover |
|
|
Average collection period (days) |
76 |
|
Average creditors (days) |
39 |
|
Average inventory (days) |
75 |
|
Operating cycle (days) |
113 |
|
*NM = Not
meaningful **Considering
unsecured loans as neither debt nor equity ^ Compulsorily convertible preference shares treated as quasi equity |
|
Note: The financials
for the year 2012 are taken from indirect sources
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
245.472 |
189.222 |
145.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4191.902 |
2606.222 |
1829.943 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4437.374 |
2795.444 |
1975.193 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7484.155 |
6122.995 |
6122.967 |
|
|
2] Unsecured Loans |
1460.384 |
1180.965 |
910.408 |
|
|
TOTAL BORROWING |
8944.539 |
7303.960 |
7033.375 |
|
|
DEFERRED TAX LIABILITIES |
32.638 |
23.711 |
16.778 |
|
|
|
|
|
|
|
|
TOTAL |
13414.551 |
10123.115 |
9025.346 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1472.420 |
1261.231 |
980.055 |
|
|
Capital work-in-progress |
44.963 |
19.341 |
5.019 |
|
|
|
|
|
|
|
|
INVESTMENT |
329.696 |
25.476 |
38.971 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5407.301
|
4523.727 |
3296.642 |
|
|
Sundry Debtors |
7716.759
|
5112.244 |
6525.251 |
|
|
Cash & Bank Balances |
651.372
|
346.475
|
250.266
|
|
|
Other Current Assets |
591.278
|
773.546
|
146.396
|
|
|
Loans & Advances |
89.787
|
466.009
|
323.923
|
|
Total
Current Assets |
14456.497
|
11222.001 |
10542.478 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2815.827
|
1909.304 |
1929.100 |
|
|
Other Current Liabilities |
0.870
|
2.734 |
4.556 |
|
|
Provisions |
72.640
|
493.520 |
608.457 |
|
Total
Current Liabilities |
2889.337
|
2405.558 |
2542.113 |
|
|
Net Current Assets |
11567.160
|
8816.443 |
8000.365 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.312 |
0.624 |
0.936 |
|
|
|
|
|
|
|
|
TOTAL |
13414.551 |
10123.115 |
9025.346 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.032011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
15911.164 |
|
|
|
Other Income |
|
|
26.034 |
|
|
|
TOTAL |
NA |
NA |
15937.198 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
14837.939 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
1099.259 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
801.441 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
970.981 |
580.333 |
297.818 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
151.716 |
115.792 |
105.436 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
819.265 |
464.541 |
192.382 |
|
|
|
|
|
|
|
|
|
Less |
Exceptional /
Extra Ordinary Items |
19.465 |
11.293 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Expenses |
0.105 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
207.765 |
130.668 |
72.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
591.930 |
322.580 |
119.810 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
52.475 |
0.000 |
|
|
|
Dividend Distribution Tax |
0.000 |
8.715 |
0.000 |
|
|
Net Surplus
Transfer to Reserve and Surplus |
591.930 |
261.390 |
119.810 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of goods exported |
NA |
13397.977 |
10901.678 |
|
|
TOTAL EARNINGS |
NA |
13397.977 |
10901.678 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
17015.730 |
11963.753 |
|
|
|
Finished Goods |
NA |
338.3573 |
190.664 |
|
|
|
Capital Goods |
NA |
92.436 |
77.551 |
|
|
|
Stores and Spares |
NA |
8.673 |
2.519 |
|
|
TOTAL IMPORTS |
NA |
17455.1963 |
12234.487 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.18 |
25.71 |
9.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14
|
3.72 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.17 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.02
|
2.61 |
3.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.00
|
4.66 |
4.15 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Loans directors unsecured |
1460.384 |
1180.965 |
|
|
|
|
|
TOTAL |
1460.384 |
1180.965 |
VIEW
INDEX OF CHARGES
|
S.No.
|
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10319110
|
11/11/2011
|
1,000,000,000.00
|
ICICI
BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B25841834
|
|
2 |
10069794
|
20/06/2013
* |
16,610,000,000.00
|
STATE
BANK OF INDIA |
DIAMOND BRANCH,D-3,WEST
CORE,BHARAT DIAMOND BOURSE |
B79732681
|
|
*
Date of charge modification |
||||||
NOTE
Registered office of the company has been shifted
from 109, Prasad Chambers, Opera House, Mumbai – 400004,
FIXED ASSETS
·
Computer
·
Furniture, Fixture and
Electric Fittings
·
Land
·
Office Premises/ Flat
·
Factory Building
·
Plant, Machinery and
Office Equipments
·
Wind Mill
·
Vehicles
WEBSITE DETAILS
PROFILE
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 and 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.
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. 58.94 |
|
|
1 |
Rs. 90.47 |
|
Euro |
1 |
Rs. 77.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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.