MIRA INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOLDIAM JEWELLERY LIMITED |
|
|
|
|
Registered
Office : |
Unit No.G-10, Ground Floor, Gems and Jewellery Complex No. II, Seepz
(SEZ), Andheri (East), Mumbai – 400096, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2005PLC152383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11794G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3424F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of studded gold jewellery. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be decent.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealing at usual trade
terms and condition. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED
Management Non-Cooperative (91-22-28292262)
LOCATIONS
|
Registered Office : |
Unit No. G – 10, Ground Floor, Gem and Jewellery Complex No. II, Seepz
(S.E.Z.), Andheri (East), Mumbai, |
|
Tel. No.: |
91-22-28290396/ 28292262 |
|
Fax No.: |
91-22-28292885/ 28290418 |
|
E-Mail : |
DIRECTORS
As on 05.09.2013
|
Name : |
Mr. Manhar Ratilal Bhansali |
|
Designation : |
Director |
|
Address : |
5th Floor, Nishika Terraces, 55A, Khan Abdul Gaffer khan
Road, Worli Sea Face, Mumbai – 400 030, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1941 |
|
Date of Appointment : |
04.04.2005 |
|
DIN No.: |
00058699 |
|
|
|
|
Name : |
Mr. Rashesh Manhar Bhansali |
|
Designation : |
Managing Director |
|
Address : |
5th Floor, Nishika Terraces, 55A, Khan Abdul Gaffer khan
Road, Worli Sea Face, Mumbai – 400 030, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1968 |
|
Qualification : |
TYB.Com |
|
Date of Appointment : |
04.04.2005 |
|
DIN No.: |
00057931 |
|
|
|
|
Name : |
Mrs. Ami Rashesh Bhansali |
|
Designation : |
Director |
|
Address : |
5th Floor, Nishika Terraces, 55A, Khan Abdul Gaffer khan Road,
Worli Sea Face, Mumbai – 400 030, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1968 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.04.2005 |
|
DIN No.: |
00057937 |
|
|
|
|
Name : |
Mr. Kunal Harshad Vora |
|
Designation : |
Director |
|
Address : |
39, Dariya Mahal B 7th Floor, |
|
Date of Birth/Age : |
05.01.1977 |
|
Date of Appointment : |
09.07.2007 |
|
DIN No.: |
01315269 |
|
|
|
|
Name : |
Mr. Rajesh Gordhandas Kapadia |
|
Designation : |
Director |
|
Address : |
9-C, Woodlands, 67 Dr. G. Deshmukh Marg, Mumbai – 400026, |
|
Date of Birth/Age : |
02.11.1956 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
00003272 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Goldiam International Limited, |
|
999400 |
|
Manhar R. Bhansali |
|
100 |
|
Rashesh Manhar Bhansali |
|
100 |
|
Shobhna Manhar Bhanssali |
|
100 |
|
Ami Rashesh Bhansali |
|
100 |
|
Rajesh Gordhandas Kapadia |
|
100 |
|
Kunal Harshad Vora |
|
100 |
|
Total |
|
1000000 |
As on 05.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of studded gold jewellery. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Pulindra Patel and Company Chartered Accountants |
|
Address : |
307, Gold Mohur Co-operative Society, 174, |
|
Tel. No.: |
91-22-22056233 |
|
Mobile No.: |
91-9322268243 |
|
E-Mail : |
|
|
PAN No.: |
AACPP4475C |
|
|
|
|
Holding Company : |
Goldiam International Limited |
|
|
|
|
Fellow subsidiaries
: |
Goldiam USA Inc. |
|
|
|
|
Associates : |
Goldiam HK Limited |
CAPITAL STRUCTURE
As on 05.09.2013
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 |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
516.273 |
443.749 |
365.882 |
|
(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) |
526.273 |
453.749 |
375.882 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
60.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
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) |
0.000 |
0.000 |
60.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
237.962 |
263.332 |
94.583 |
|
(b) Trade
payables |
152.928 |
165.876 |
156.559 |
|
(c) Other current
liabilities |
1.012 |
1.033 |
3.325 |
|
(d) Short-term
provisions |
2.203 |
0.336 |
0.049 |
|
Total Current
Liabilities (4) |
394.105 |
430.577 |
254.516 |
|
|
|
|
|
|
TOTAL |
920.378 |
884.326 |
690.398 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.746 |
14.054 |
12.264 |
|
(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 |
0.000 |
|
(b) Non-current Investments |
14.925 |
7.417 |
0.000 |
|
(c) Deferred tax assets (net) |
0.511 |
0.383 |
0.332 |
|
(d) Long-term Loan and Advances |
0.581 |
0.262 |
0.259 |
|
(e) Other Non-current
assets |
0.139 |
0.185 |
0.232 |
|
Total Non-Current
Assets |
28.902 |
22.301 |
13.087 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
199.238 |
157.641 |
0.000 |
|
(c) Trade receivables |
214.649 |
229.872 |
196.101 |
|
(d) Cash
and cash equivalents |
417.986 |
378.975 |
453.485 |
|
(e)
Short-term loans and advances |
45.885 |
69.844 |
13.554 |
|
(f) Other
current assets |
13.718 |
25.693 |
14.171 |
|
Total
Current Assets |
891.476 |
862.025 |
677.311 |
|
|
|
|
|
|
TOTAL |
920.378 |
884.326 |
690.398 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
916.185 |
911.179 |
904.445 |
|
|
|
Other Income |
4.445 |
3.293 |
0.000 |
|
|
|
TOTAL (A) |
920.630 |
914.472 |
904.445 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
758.984 |
744.349 |
729.646 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2.581) |
3.570 |
(8.380) |
|
|
|
Employees benefits expense |
3.879 |
3.449 |
5.878 |
|
|
|
Other expenses |
60.797 |
53.395 |
36.692 |
|
|
|
TOTAL (B) |
821.079 |
804.763 |
763.836 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.551 |
109.709 |
140.609 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.307 |
10.031 |
9.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
93.244 |
99.678 |
130.996 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.806 |
2.347 |
2.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
90.438 |
97.331 |
128.476 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.915 |
19.464 |
0.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.523 |
77.867 |
128.449 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
443.748 |
365.881 |
237.432 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
516.271 |
443.748 |
365.881 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
897.461 |
901.802 |
897.622 |
|
|
TOTAL EARNINGS |
897.461 |
901.802 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
323.561 |
303.717 |
309.551 |
|
|
|
Stores & Spares |
0.818 |
0.717 |
0.957 |
|
|
|
Capital Goods |
0.000 |
0.276 |
0.000 |
|
|
|
Foreign Travels |
1.331 |
1.617 |
0.485 |
|
|
|
Others |
0.223 |
0.034 |
0.962 |
|
|
TOTAL IMPORTS |
325.933 |
306.361 |
311.955 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
72.52 |
77.87 |
128.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.88 |
8.51 |
14.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.87 |
10.68 |
14.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.99 |
11.10 |
18.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.21 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.45 |
0.58 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26 |
2.00 |
2.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
365.882 |
443.749 |
516.273 |
|
Net
worth |
375.882 |
453.749 |
526.273 |
|
|
|
|
|
|
long-term borrowings |
60.000 |
0.000 |
0.000 |
|
Short term borrowings |
94.583 |
263.332 |
237.962 |
|
Total
borrowings |
154.583 |
263.332 |
237.962 |
|
Debt/Equity
ratio |
0.411 |
0.580 |
0.452 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
904.445 |
911.179 |
916.185 |
|
|
|
0.745 |
0.549 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
904.445 |
911.179 |
916.185 |
|
Profit |
128.449 |
77.867 |
72.523 |
|
|
14.20% |
8.55% |
7.92% |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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 |
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 |
No |
NOTE:
The Registered Office of the company has been
shifted from “2 Prasad Chambers, Opera House, Mumbai – 400 004,
OPERATIONS:
The Company has achieved a turnover of Rs.910.326 Millions during the year as compared to Rs.903.482 Millions during the previous year reflecting a growth of 0.75 over the previous year. The net profit after tax of the Company has decreased to Rs.72.523 Millions as compared to net profit after tax from Rs.77.867 Millions showing decrease of 6.86. The decline in the profit can be attributed to increase in the cost of materials, manufacturing and other expenses and decreased in the foreign exchange earnings.
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.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Deposits from directors |
0.000 |
63.095 |
|
Total |
0.000 |
63.095 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10165866 |
24/01/2012 * |
250,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B32328197 |
* Date of charge modification
FIXED ASSETS
- Factory Building
- Furniture and Fixture
- Office Equipment
- Plant and Machinery
- Computers
- Air Conditioner
- Electrical Inst
- Vehicles
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.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.