MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAM STAR JEWELLERY ( |
|
|
|
|
Registered
Office : |
Unit G 8 and G 9, Gems and Jewellery Complex II, Seepz Sez, Andheri (East),
Mumbai – 400096, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.03.2002 |
|
|
|
|
Com. Reg. No.: |
11-135049 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2002PTC135049 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD07443C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD4778N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plain, Studded Gold, Silver, Platinum and Diamond
Jewellery etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. 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. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
19.09.2013 |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-22-66947000)
LOCATIONS
|
Registered Office : |
Unit G 8 and G 9, Gems and Jewellery Complex II, Seepz Sez, Andheri
(East), Mumbai – 400096, Maharashtra, India
|
|
Tel. No.: |
91-22-66947000 |
|
Fax No.: |
91-22-28244212 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ramesh Shanmugham |
|
Designation : |
Director |
|
Address : |
A-502, Dheeraj Garden, P M G P Colony, Mahakali Caves Road, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1967 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
00004149 |
|
|
|
|
Name : |
Mr. Ashish Vinod Shah |
|
Designation : |
Director |
|
Address : |
19/2, Suvarna Nagar, Society, Soni House, N S Road, No. 4, J V P D
Scheme , Vile Parle (West), Mumbai – 400056, |
|
Date of Birth/Age : |
04.05.1970 |
|
Date of Appointment : |
01.06.2008 |
|
DIN No.: |
00007729 |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Alkesh Satish Shah |
73280 |
|
Satish Ratilal Shah |
10200 |
|
Shweta Sanjay Shah |
710890 |
|
Hansaben Satish Shah |
421800 |
|
Smita Alkesh Shah |
633800 |
|
Ankur Satish Shah |
100000 |
|
Sidd Shah |
10 |
|
Aayush Shah |
10 |
|
Sayam Shah |
10 |
|
|
|
|
Total |
1950000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
%20PRIVATE%20LIMITED%20-%20280313%2008-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plain, Studded Gold, Silver, Platinum and Diamond
Jewellery etc. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
FINISHED GOODS |
Unit |
31.03.2011 |
|
Licensed Capacity |
In Pcs. |
250000 |
|
|
|
|
|
Installed Capacity |
In Pcs. |
250000 |
|
|
|
|
|
Actual Production |
In Pcs. |
179685 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
·
State Bank of India, Seepz Branch, Andheri
(East), Mumbai – 400096, Maharashtra, India ·
Bank of India, Seepz Mid Corporate Branch, Behind
Seepz Service Centre, Marol Industrial Area, Seepz, Mumbai – 400096,
Maharashtra, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B J Shah and Associates Chartered Accountant |
|
Address : |
203-A/1, Modern Apartment, Sanghani Estate Garfen Lane, Ghatkopar
(West), Mumbai – 400086, Maharashtra, India |
|
Pan No.: |
AAHPS5959D |
|
|
|
|
Associates : |
·
Gold Star Jewellery Private Limited ·
Gold Star Corporate Solution Private Limited ·
Mindtech Solution Private Limited ·
Gold Star Jewellery Designs Private Limited ·
Gold Star Centoquattro Jewellery Private Limited ·
Gold Star Diamond Private Limited ·
Jouel Sculpt Private Limited ·
Gold star Independence LLC ·
Gold star Jewellery LLC |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1950000 |
Equity Shares |
Rs.10/- each |
Rs.19.500 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 |
19.500 |
19.500 |
19.500 |
|
(b) Reserves & Surplus |
756.701 |
717.125 |
678.113 |
|
(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) |
776.201 |
736.625 |
697.613 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.220 |
0.307 |
0.393 |
|
(c) Other long term liabilities |
10.963 |
14.614 |
4.212 |
|
(d) long-term provisions |
0.145 |
0.377 |
0.238 |
|
Total Non-current Liabilities (3) |
11.328 |
15.298 |
4.843 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
373.773 |
352.984 |
93.037 |
|
(b) Trade payables |
171.678 |
300.087 |
101.793 |
|
(c) Other current
liabilities |
1.485 |
1.968 |
1.251 |
|
(d) Short-term provisions |
1.213 |
6.936 |
8.269 |
|
Total Current Liabilities (4) |
548.149 |
661.975 |
204.350 |
|
|
|
|
|
|
TOTAL |
1335.678 |
1413.898 |
906.806 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
33.205 |
34.647 |
33.328 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
1.920 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
87.515 |
87.515 |
87.515 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.287 |
2.677 |
2.329 |
|
(e) Other Non-current assets |
9.734 |
5.881 |
10.004 |
|
Total Non-Current Assets |
134.741 |
130.720 |
135.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
10.000 |
|
(b) Inventories |
285.375 |
259.802 |
199.092 |
|
(c) Trade receivables |
471.345 |
931.250 |
424.671 |
|
(d) Cash and cash
equivalents |
124.121 |
71.641 |
87.248 |
|
(e) Short-term loans and
advances |
315.444 |
18.710 |
48.142 |
|
(f) Other current assets |
4.652 |
1.775 |
2.557 |
|
Total Current Assets |
1200.937 |
1283.178 |
771.710 |
|
|
|
|
|
|
TOTAL |
1335.678 |
1413.898 |
906.806 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL |
1786.242 |
1386.901 |
956.658 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
1726.766 |
1329.098 |
933.495 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
59.476 |
57.803 |
23.163 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
19.900 |
18.792 |
8.318 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
39.576 |
39.011 |
14.845 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
1120.642 |
1209.982 |
849.240 |
|
|
|
TOTAL EARNINGS |
1120.642 |
1209.982 |
849.240 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
795.786 |
370.897 |
428.644 |
|
|
|
|
Stores & Spares |
0.389 |
0.057 |
1.634 |
|
|
|
|
Capital Goods |
30.058 |
0.661 |
0.000 |
|
|
|
TOTAL IMPORTS |
826.233 |
371.615 |
430.278 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
20.30 |
20.01 |
7.61 |
||
%20PRIVATE%20LIMITED%20-%20280313%2008-Aug-2014_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.22 |
2.81 |
1.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.77 |
4.36 |
2.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48 |
0.48 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19 |
1.94 |
3.78 |
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 |
19.500 |
19.500 |
19.500 |
|
Reserves & Surplus |
678.113 |
717.125 |
756.701 |
|
|
0.000 |
0.000 |
0.000 |
|
Net
worth |
697.613 |
736.625 |
776.201 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
93.037 |
352.984 |
373.773 |
|
Total
borrowings |
93.037 |
352.984 |
373.773 |
|
Debt/Equity
ratio |
0.133 |
0.479 |
0.482 |
%20PRIVATE%20LIMITED%20-%20280313%2008-Aug-2014_files/image005.gif)
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 |
956.658 |
1,386.901 |
1,786.242 |
|
|
|
44.974 |
28.794 |
%20PRIVATE%20LIMITED%20-%20280313%2008-Aug-2014_files/image007.gif)
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
|
956.658 |
1,386.901 |
1,786.242 |
|
Profit |
14.845 |
39.011 |
39.576 |
|
|
1.55% |
2.81% |
2.22% |
%20PRIVATE%20LIMITED%20-%20280313%2008-Aug-2014_files/image009.gif)
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 |
Yes |
NOTE: Registered office of the company has been shifted from 3rd
Floor, Kothare House, 269 Raja Ram Mohan Roy Road, Opera House, Mumbai – 400004,
Maharashtra, India to the present address w.e.f. 22.10.2008.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
advances from related parties |
3.741 |
35.233 |
|
Rupee term loans
from banks |
0.000 |
12.098 |
|
|
|
|
|
Total |
3.741 |
47.331 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10372693 |
31/07/2012 |
20,000,000.00 |
BANK
OF INDIA |
SEEPZ
MID CORPORATE BR,BEHIND SEEPZ SERVICE CENTRE, MAROL INDUSTRIAL AREA, SEEPZ,
ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA |
B56427016 |
|
2 |
10334123 |
16/01/2012 |
20,000,000.00 |
BANK
OF INDIA |
SEEPZ
MID CORPORATE BR,BEHIND SEEPZ SERVICE CENTRE, MAROL INDUSTRIAL AREA, SEEPZ,,
MUMBAI, MAHARASHTRA - 400096, INDIA |
B31503055 |
|
3 |
10235151 |
28/07/2010 |
15,000,000.00 |
BANK
OF INDIA |
SEEPZ
BRANCH, MIDC-SEEPZ,ANDHERI-EAST, MUMBAI, MAHARASHTRA - 400096, INDIA |
A92260017 |
|
4 |
10061439 |
29/10/2012
* |
538,900,000.00 |
STATE
BANK OF INDIA |
SEEPZ,
ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400096, INDIA |
B61644811 |
|
5 |
10005811 |
28/04/2006 |
520,000,000.00 |
STATE
BANK OF INDIA |
SEEPZ
BRANCH, ANDHERI (EAST), MUMBAI, MAHARASHTRA |
A01308295 |
|
6 |
90145383 |
03/09/2004 |
7,500,000.00 |
BANK
OF INDIA |
SEEPZ
BRANCH, ANDHERI, MUMBAI, MAHARASHTRA - 400096, INDIA |
- |
*Date of modification Charges
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.
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 records 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.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
47 |
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.