MIRA
INFORM REPORT
|
Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MALABAR GOLD PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
41/2299, 3rd Floor, Malabar Gate, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
|
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Date of
Incorporation : |
19.06.2001 |
|
|
|
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Com. Reg. No.: |
09-014804 |
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Capital
Investment / Paid-up Capital : |
Rs. 2000.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52393KL2001PTC014804 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM9043R |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Gold Ornaments. |
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|
No. of Employees
: |
Above 100 |
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 8280000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Profitability of the company is low. However, the rating takes into consideration company’s established
track record of business operation and adequate liquidity position of the
company. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered 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 that 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 |
Long term rating : “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
11.07.2014 |
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 PARTED BY
|
Name : |
Mr. Vinayak |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-495-2726916 |
|
Date : |
20.08.2014 |
LOCATIONS
|
Registered Office : |
41/2299, 3rd Floor, Malabar Gate, Ram Mohan Road, Puthiyara
Post, Calicut – 673004, Kerala, India |
|
Tel. No. : |
91-495-2721864/ 2726916 |
|
Fax No. : |
91-495-2724930/ 2724533 |
|
E-Mail : |
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|
Website : |
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Branch Office 1 : |
Ground Floor, A Block, 22, Camec Street, Next to Pizza Hut, Kolkata –
700016, West Bengal, India |
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|
|
|
Branch Office 2 : |
Al Gurg Tower 3, Creek Road, Deira, Dubai, UAE |
|
Tel. No. : |
009714 25 66 916 |
|
Fax No. : |
009714 25 66 917 |
DIRECTORS
As on 26.09.2013
|
Name : |
Ahammed Madathum Parambath |
|
Designation : |
Managing Director |
|
Address : |
5/2697-H, Malabar Hills Housing Colony, K P Chandran Road, Puthiyara Calicut – 673004, Kerala, India |
|
Date of Birth/Age : |
01.11.1957 |
|
Date of Appointment : |
19.06.2001 |
|
PAN No.: |
AEPPP5488L |
|
DIN No. : |
00016575 |
|
|
|
|
Name : |
Veerankutty Kandambath Puthiyapath |
|
Designation : |
Director |
|
Address : |
5/1912-B, Kandambath, St. Vincent Colony Road, Eranhipalam Post, Calicut – 673006, Kerala, India |
|
Date of Birth/Age : |
15.07.1950 |
|
Date of Appointment : |
19.06.2001 |
|
PAN No. : |
ABNPV8112A |
|
DIN No. : |
00016686 |
|
|
|
|
Name : |
Mayan Kutty Cholakkal |
|
Designation : |
Director |
|
Address : |
16/333, Cholakkal House, Down Hill Post, Malappuram - 676519, Kerala, India |
|
Date of Birth/Age : |
10.07.1954 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
00017550 |
|
|
|
|
Name : |
Dr. Ibrahimhaji Pallikere Abdulla |
|
Designation : |
Director |
|
Address : |
14/436, Noormahal, Jolly Nagar, Pallikkere Post, Kasaragod – 671316, Kerala, India |
|
Date of Birth/Age : |
06.09.1943 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
00017148 |
|
|
|
|
Name : |
Abdul Majeed Mozhangal |
|
Designation : |
Director |
|
Address : |
Madathum Parambath House, Karayad Post, Calicut – 673524, Kerala, India |
|
Date of Birth/Age : |
20.02.1964 |
|
Date of Appointment : |
19.06.2001 |
|
PAN No. : |
AFZPM8844C |
|
DIN No. : |
00226042 |
|
|
|
|
Name : |
Asher Ottamoochikkal |
|
Designation : |
Director |
|
Address : |
Door No.: 20/1128, Mons, Cherumanassery Road, Kallai Post, Calicut – 673003, Kerala, India |
|
Date of Birth/Age : |
25.01.1969 |
|
Date of Appointment : |
19.06.2001 |
|
DIN No. : |
00016721 |
|
|
|
|
Name : |
Nishad Athikkot |
|
Designation : |
Director |
|
Address : |
5/2697, H-5, Malabar Hills Housing Colony, K.P Chandran Road, Puthiyara, Calicut – 673004, Kerala, India |
|
Date of Birth/Age : |
01.01.1971 |
|
Date of Appointment : |
19.06.2001 |
|
PAN No. : |
ABHPN1505F |
|
DIN No. : |
00016601 |
|
|
|
|
Name : |
Shamlal Madathum Parambath |
|
Designation : |
Director |
|
Address : |
5/2697-H, Malabar Hills Housing Colony, K.P Chandran Road, Puthiyara, Calicut – 673004, Kerala, India |
|
Date of Birth/Age : |
30.04.1981 |
|
Date of Appointment : |
19.06.2001 |
|
DIN No. : |
00016631 |
|
|
|
|
Name : |
Beerankoya Kakkodi |
|
Designation : |
Director |
|
Address : |
9/876, Kakkodi House, Kakkodi Post, Calicut – 673611, Kerala, India |
|
Date of Birth/Age : |
15.03.1937 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
00023441 |
|
|
|
|
Name : |
Abdul Salam Kandampath |
|
Designation : |
Director |
|
Address : |
6/118, Kandabath House, Urallor Post, Calicut – 673322, Kerala, India |
|
Date of Birth/Age : |
26.05.1959 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No. : |
00017008 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2013
|
Names of Shareholders |
No. of Shares |
|
Veerankutty KP |
100000 |
|
Ahammed MP |
425000 |
|
Nishad A K |
125000 |
|
Shamlal MP |
250000 |
|
Abdul Majeed M |
50000 |
|
Asher O |
50000 |
|
Dr. Ibrahim Haji PA |
400000 |
|
Abdul Salam KP |
200000 |
|
Beeran Koya K |
125000 |
|
Ahammed Basheer MP |
25000 |
|
Mayankutty C |
175000 |
|
Abdul Samad K |
75000 |
|
Jabbar Kappan |
75000 |
|
Soujath Asher |
75000 |
|
Faisal AK |
75000 |
|
Shareej VS |
50000 |
|
Shafeekh VS |
50000 |
|
Abdul Rauf C |
75000 |
|
Abdul Razack C |
75000 |
|
Roshan Lal SB |
15000 |
|
Shana Sithara SB |
10000 |
|
Total |
2500000 |
As on 26.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
94.00 |
|
Other top fifty shareholders |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Gold Ornaments. |
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Products : |
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Terms : |
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Selling : |
Cash, Advance Payment and Cheque |
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Purchasing : |
Cash, Advance Payment and Cheque |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
Above 100 |
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Bankers : |
· Dhanlaxmi Bank Limited, Kozhikode Main Branch, C M Mathew Brothers Tower, Chinthavalappu Po, Kozhikode - 673004, Kerala, India State Bank of India, Bank Road Mananchira, Calicut -
673001, Kerala, India State Bank of Travancore, Kozhikode Main Branch, Kozhikode
- 673001, Kerala, India · HDFC Bank Limited Panjab National Bank The Bank of Nova Scotia Union Bank of India The South Indian Bank Limited Axis Bank Limited Federal Bank |
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Facilities : |
|
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
P.A Hameed and Associates Chartered Accountants |
|
Address : |
6/1201, First Floor, Aysha Building, Cherooty Road, North End, Calicut – 673032, Kerala, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFP6604R |
|
|
|
|
Associates : |
· Golden Hill Builders and Developers (India) Private Limited CIN No.: U70101KL2008PTC023029 I.M.C.Advertising Private Limited CIN No.: U74300KL2004PTC017023 MALABAR BUILDERS INDIA Private Limited CIN No.: U45201KL2005PTC017850 Malabar Gold Palace Private Limited CIN No.: U52393KL2005PTC018265 Malabar Highview Builders Private Limited CIN No.: U45201KL2006PTC019766 Malabar Marina Projects (India) Private Limited CIN No.: U45201KL1999PTC012720 Malabar Townships Private Limited CIN No.: U45201KL2005PTC018917 Malabar Watches Private Limited CIN No.: U51394KL2004PTC016915 Queencity Realtors Private Limited CIN No.: U45202KL2006PTC020130 Sonnet Builders And Developers Private Limited CIN No.: U70100KL2009PTC024367 alabar Business Centre Private Limited CIN No.: U70101KL1958PTC001812 Malabar Jewels And Gems Private Limited CIN No.: U51398KL2003PTC016082 Malabar Collections Private Limited CIN No.: U51398KL2003PTC016458 Malabar Hospitality Services Private Limited CIN No.: U55101KL1999PTC012858 Alahali Business Trade Links Private Limited CIN No.: U36911KL1997PTC011338 Fort-In Infra Developers Private Limited CIN No.: U45202KL2007PTC020967 Malabar Cochin Arcade Private Limited CIN No.: U45202KL2007PTC020490 Malabar Gold Jewels (Tirur) Private Limited CIN No.: U52393KL2005PTC018333 Eminent Jewel Arcade Private Limited CIN No.: U51398KL2010PTC026078 Blaze Gold Jewels Private Limited CIN No.: U36911KL2009PTC024369 Patina Gold Ornaments Private Limited CIN No.: U52393KL2008PTC022493 Unity Jewel Arcade Private Limited CIN No.: U51398KL2010PTC026164 Gazzaz Global Ad-Visions Private Limited U74300KL2006PTC019079 MG Precious Stone Trading Ventures Private Limited CIN No.: U51398KL2008PTC022577 Malabar Commercial Plaza Private Limited CIN No.: U45209KL2006PTC019786 Malabar Ornaments Private Limited CIN No.: U51398KL2003PTC016237 |
|
|
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|
Subsidiary Company
: |
· Malabar Gold Ornaments Makers Private Limited CIN No.: U36911KL2003PTC016159 Glittermount India Property Developers Private Limited CIN No.: U70102KL2008PTC022200 Malabar Mountain Infra Developers Private Limited CIN No.: U70102KL2007PTC021075 Malabar Shoppers Centre Private Limited CIN No.: U45209KL2006PTC020133 Royal Mount Property Developers Private Limited CIN No.: U70102KL2007PTC021620 Skymount Infrastructure Development Private Limited CIN No.: U70102KL2007PTC021618 Whitemount Property Developers Private Limited CIN No.: U70102KL2007PTC021619 Focus Jewel Arcade Private Limited CIN No.: U51398KL2010PTC026777 Fortune Ornaments Makers Private LIMITED CIN No.: U36911KL2006PTC020140 Malabar Equipments And General Traders Private Limited CIN No.: U52599KL2006PTC020129 Vibrant Jewel Arcade Private Limited CIN No.: U51909KL2010PTC026411 Malabar Developers Private Limited CIN No.: U70101KL1995PTC009762 Malabar Bullion Traders Private Limited CIN No.: U51909KL2012PTC030985 Malabar Retail Ventures Private Limited CIN No.: U52312KL2012PTC032907 |
CAPITAL STRUCTURE
As on 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.1000/- each |
Rs. 2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.1000/- each |
Rs. 2500.000 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.1000/- each |
Rs. 2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.1000/- each |
Rs. 2000.000 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 |
2000.000 |
9.000 |
9.000 |
|
(b) Reserves & Surplus |
69.007 |
371.796 |
183.091 |
|
(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) |
2069.007 |
380.796 |
192.091 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2170.914 |
925.358 |
588.443 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.504 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.665 |
0.132 |
0.128 |
|
Total Non-current Liabilities (3) |
2171.579 |
927.994 |
588.571 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
103.700 |
26.600 |
16.700 |
|
(b) Trade payables |
272.047 |
0.940 |
0.000 |
|
(c) Other current
liabilities |
1940.179 |
1183.464 |
239.409 |
|
(d) Short-term provisions |
3.711 |
14.121 |
10.748 |
|
Total Current Liabilities (4) |
2319.637 |
1225.125 |
266.857 |
|
|
|
|
|
|
TOTAL |
6560.223 |
2533.915 |
1047.519 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
402.592 |
79.669 |
19.343 |
|
(ii) Intangible Assets |
8.935 |
5.712 |
2.151 |
|
(iii) Capital
work-in-progress |
17.650 |
0.579 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1794.559 |
1078.487 |
384.377 |
|
(c) Deferred tax assets (net) |
0.528 |
0.000 |
0.049 |
|
(d) Long-term Loan and Advances |
1633.909 |
972.096 |
511.012 |
|
(e) Other Non-current assets |
152.408 |
12.233 |
10.051 |
|
Total Non-Current Assets |
4010.581 |
2148.776 |
926.983 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1800.086 |
102.696 |
29.052 |
|
(c) Trade receivables |
36.418 |
23.509 |
6.923 |
|
(d) Cash and cash
equivalents |
82.175 |
57.939 |
30.054 |
|
(e) Short-term loans and
advances |
629.415 |
200.731 |
54.417 |
|
(f) Other current assets |
1.548 |
0.264 |
0.090 |
|
Total Current Assets |
2549.642 |
385.139 |
120.536 |
|
|
|
|
|
|
TOTAL |
6560.223 |
2533.915 |
1047.519 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22371.894 |
NA |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL (A) |
NA |
NA |
13695.806 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
13523.617 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
172.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
1.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
171.094 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
4.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
82.146 |
282.367 |
166.610 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.536 |
93.662 |
57.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
68.610 |
188.705 |
109.079 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
38.666 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
34.305 |
20967.22 |
12119.89 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
31000.000 |
|
|
|
|
|
The above information has been parted by Mr. Vinayak (Finance Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.37 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73 |
19.41 |
25.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.74 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.10 |
2.50 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
0.31 |
0.45 |
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 |
9.000 |
9.000 |
2000.000 |
|
Reserves & Surplus |
183.091 |
371.796 |
69.007 |
|
Net
worth |
192.091 |
380.796 |
2069.007 |
|
|
|
|
|
|
long-term borrowings |
588.443 |
925.358 |
2170.914 |
|
Short term borrowings |
16.700 |
26.600 |
103.700 |
|
Total
borrowings |
605.143 |
951.958 |
2274.614 |
|
Debt/Equity
ratio |
3.150 |
2.500 |
1.099 |
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) |
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 |
Yes |
|
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 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.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10481784 |
08/07/2014 * |
350,000,000.00 |
DHANLAXMI BANK LIMITED |
DHANLAXMI
BUILDINGS, NAICKANAL, THRISSUR, KERALA |
C13519095 |
|
2 |
10413410 |
05/06/2014 * |
600,000,000.00 |
STATE BANK OF INDIA |
KOZHIKODE BRANCH, PO BOX NO. 9, BANK ROAD, KOZHIKODE, KERALA - 673001, INDIA |
C06870638 |
|
3 |
10398351 |
06/02/2013 * |
2,250,000,000.00 |
STATE BANK OF TRAVANCORE |
COMMERCIAL BRANCH, ERNAKULAM, KERALA - 682035, INDIA |
B71764534 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
108.774 |
40.090 |
|
Deposits from shareholders |
674.351 |
883.870 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
103.700 |
26.600 |
|
Total |
886.825 |
950.560 |
The company is in the business of franchising Malabar Gold and Diamonds brand for retail chain operations, operating its own retail jewellery showrooms and also dealing in bullion for its franchisee showrooms. The Company has changed its present business model with its franchisee stores wherein the products to these franchisee showrooms is supplied by the franchisor company or any other entities as approved by them at a price as fixed by them. These franchisee showrooms, will act as the exclusive dealer of the present Franchisor Company namely Malabar Gold Private Limited, or other entities as approved by them, in addition to acting as their Franchisee
The company is in the process of expanding the gold retail chain by owning and running own showrooms in all part of India and by appointing more franchisee showrooms in India and abroad. By observing good business growth, the company is also making investments in these existing franchisee showrooms in India. Their company has a bright future and will be able to achieve its targets and to meet its commitments with valuable supports from benefactors.
MERGER
The Company is proposing to take over its wholly Owned Subsidiary namely Malabar Gold Ornaments Makers Private Limited, by way of merger of Malabar Gold Ornaments Makers Private Limited with their Company. Malabar Gold Ornaments Makers Private Limited is a company carrying on manufacturing and supply chain operations to their franchisee and Exclusive dealer stores in India along with its export operations. Consequent to this merger, manufacturing and supply chain operations along with export operations will be undertaken by the merged entity namely their company. This merger proposal shall help to increase the net worth of their Company. Post Merger, the merged entity will acquire the supply chain expertise of Malabar Gold Ornaments Makers Private Limited and that the merger shall be subject to approval of members/creditors and approval by the High Court of Kerala at Ernakulam.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Computer
Equipments
Intangible Assets
· Brands and Trade Marks
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.60.67 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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.