MIRA INFORM REPORT
|
Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
LALITHAA JEWELLERY MART PRIVATE LIMITED (w.e.f. 04.11.2013) |
|
|
|
|
Formerly Known
As : |
LALITHA JEWELLERY MART PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
123, Usman Road, T.Nagar, Chennai
- 600 017, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.11. 1985 |
|
|
|
|
Com. Reg. No.: |
18-012417 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 105.494 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911TN1985PTC012417 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL00026F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1523A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the design, manufacture, and sale of
jewelry. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 7600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Financial position of the company is good. The company is progressing
well. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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 – 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
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of the
global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
September 19, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
September 19, 2013 |
RBI DEFAULTERS’
LIST STATUS
Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.
EPF (Employee Provident
Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.
INFORMATION DENIED
Management Non-Cooperative
Contact No.: 91-44-28349860
LOCATIONS
|
Registered Office : |
123, Usman Road, T. Nagar, Chennai - 600 017, Tamilnadu, India |
|
Tel. No.: |
91-44-28349860 / 28141155 |
|
Fax No.: |
91-44-28144311 |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
T. Nagar, No:53, Habibulla Road, Chennai – 600 017, Tamilnadu, India |
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Showroom:
|
Located At
|
DIRECTORS
AS ON 08.08.2013
|
Name : |
Mr. Kirankumar Moolchandji |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No. 15, Ragavaiah Road, 3A, Kenses
Flat, 3rd Floor, T.
Nagar, Chennai -
600 017, Tamilnadu,
India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.06.1968 |
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Date of Appointment : |
19.03.1999 |
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|
PAN No.: |
ACHPM2247E |
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|
DIN No. : |
01604600 |
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Other Directorship :
|
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|
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|
Name : |
Mrs. Hema Kiran Kumar |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
3A Ragavaiah Road, T.
Nagar, Chennai -
600 017, Tamilnadu,
India |
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|
Date of Birth/Age : |
20.07.1979 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.02.2012 |
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|
PAN No. : |
AAHPK8099G |
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|
DIN No. : |
01387588 |
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Other Directorship :
|
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|
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|
Name : |
Rajeswaran Ponniah Pillai |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Whole-time director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.6, GKM Avenue, G.K. Moopanar Salai, Srinivasan Puram, New
Perungalathur, Chennai - 600
063, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
29.09.2012 |
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PAN No. : |
AJFPR2380E |
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|
DIN No. : |
02125793 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
P Laxmidhar Prusty |
|
Designation : |
Secretary |
|
Address : |
NO-8, Room No. B-6, Krishnappa Mudali Street, Triplicane, Chennai - 600 005, Tamilnadu, India |
|
Date of Birth/Age : |
10.05.1988 |
|
Date of Appointment : |
12.06.2013 |
|
PAN No.: |
BWPPP4541P |
|
Name : |
Dusmanta Kumar Barick |
|
Designation : |
Secretary |
|
Address : |
Old No.12, New No.25, Muthu Kalaty Street, Chennai - 600 005,
Tamilnadu, India |
|
Date of Birth/Age : |
08.05.1981 |
|
Date of Appointment : |
08.01.2014 |
|
PAN No.: |
ASZPB1078L |
|
Name : |
Ms. Bhama |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
M Kiran Kumar |
|
9846665 |
|
M. Shahul Hameed |
|
38333 |
|
K. Savithri |
|
9440 |
|
Prakash Chandra jain |
|
33333 |
|
A.K. Exports, India – Propritorix - M Kiran Kumar |
|
65333 |
|
Speciality Papers Limited, India |
|
81250 |
|
Emporis Projects Limited, India |
|
62500 |
|
Sanguina Media Limited, India |
|
68750 |
|
Swastik Securities and Finance Limited, India |
|
18750 |
|
Secundrabad Health Care Limited, India |
|
56250 |
|
Oasis Cine Communication Limited, India |
|
31250 |
|
Kothari Credit (India) Limited, India |
|
237500 |
|
|
|
|
|
Total |
|
10549354 |
AS ON 20.02.2014
|
Names of Allottee |
|
No. of Shares |
|
Kothari Credit (India) Limited, India |
|
13531 |
|
|
|
|
|
Total |
|
13531 |
AS ON 29.03.2014
|
Names of Allottee |
|
No. of Shares |
|
Kiran Kumar Moolchandji |
|
300000 |
|
|
|
|
|
Total |
|
300000 |
AS ON 08.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
5.27 |
|
Directors or relatives of Directors |
93.96 |
|
Other top fifty |
0.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the design, manufacture, and sale of
jewelry. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
|
|
|
|
|
Auditors : |
|
|
Name : |
U M Khalilullah and company Chartered Accountants |
|
Address : |
New No 15 (Old No 8 ), XII Cross Street, Indira Nagar, Chennai –
600020, Tamilnadu, India |
|
PAN No.: |
AABFU5181F |
|
|
|
|
Associate : |
|
CAPITAL STRUCTURE
AFTER 08.08.2013
Authorised Capital : Rs. 150.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 116.362 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,549,354 |
Equity Shares |
Rs.10/- each |
Rs. 105.494 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 |
105.494 |
102.852 |
98.331 |
|
(b) Reserves & Surplus |
1,771.852 |
1,091.054 |
359.732 |
|
(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) |
1,877.346 |
1,193.906 |
458.063 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
777.873 |
250.950 |
160.008 |
|
(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) |
777.873 |
250.950 |
160.008 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3,902.400 |
1,297.161 |
1,063.154 |
|
(b) Trade payables |
629.345 |
368.864 |
174.083 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
229.091 |
143.761 |
56.560 |
|
Total
Current Liabilities (4) |
4,760.836 |
1,809.786 |
1,293.797 |
|
|
|
|
|
|
TOTAL |
7,416.055 |
3,254.642 |
1,911.868 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
322.567 |
200.198 |
125.069 |
|
(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 |
5.554 |
45.416 |
4.818 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
210.875 |
100.493 |
100.683 |
|
(e) Other Non-current assets |
2.254 |
0.655 |
0.689 |
|
Total
Non-Current Assets |
541.250 |
346.762 |
231.259 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6,288.916 |
2,581.414 |
1,553.270 |
|
(c) Trade receivables |
124.323 |
148.163 |
33.074 |
|
(d) Cash and cash equivalents |
300.385 |
161.691 |
65.544 |
|
(e) Short-term loans and
advances |
161.181 |
16.612 |
28.721 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
6,874.805 |
2,907.880 |
1,680.609 |
|
|
|
|
|
|
TOTAL |
7,416.055 |
3,254.642 |
1,911.868 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
|
34,860.600 |
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
34,860.600 |
14,444.000 |
8,759.000 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
TOTAL
|
34,299.800 |
14,152.700 |
8,632.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
560.800 |
291.300 |
126.700 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
28.100 |
17.100 |
16.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
532.600 |
274.100 |
110.400 |
|
|
|
|
|
|
|
|
TAX |
181.000 |
85.000 |
33.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
351.600 |
189.100 |
77.400 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
33.33 |
18.39 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.01 |
1.31 |
0.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.53 |
1.90 |
1.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
7.19 |
8.54 |
5.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.49 |
1.29 |
2.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.61 |
1.30 |
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 |
98.331 |
102.852 |
105.494 |
|
Reserves & Surplus |
359.732 |
1,091.054 |
1,771.852 |
|
Net
worth |
458.063 |
1,193.906 |
1,877.346 |
|
|
|
|
|
|
long-term borrowings |
160.008 |
250.950 |
777.873 |
|
Short term borrowings |
1,063.154 |
1,297.161 |
3,902.400 |
|
Total
borrowings |
1,223.162 |
1,548.111 |
4,680.273 |
|
Debt/Equity
ratio |
2.670 |
1.297 |
2.493 |
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) |
|
Revenue from operations |
8,759.000 |
14,444.000 |
34,860.600 |
|
|
|
64.905 |
141.350 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
8,759.000 |
14,444.000 |
34,860.600 |
|
Profit/(Loss) After Tax |
77.400 |
189.100 |
351.600 |
|
|
0.88% |
1.31% |
1.01% |
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
41.477 |
43.686 |
|
Other loans and advances, others |
736.397 |
206.768 |
|
Loans and advances from directors |
0.000 |
0.496 |
|
Total |
777.874 |
250.950 |
BUSINESS REVIEW
The Company has
achieved on all time record turnover, thereby registering a top line growth of
141%. This performance was possible due to an outstanding performance of the showroom
at Chennai, Madurai, Tirchy and Pondichery. The Company has virtually benefited
by the expansion at Tirchy and Pondicherry by the ultimate goal of customer
satisfaction which the brand name ” has inculcated in the public “LALITHA throughout
the years. The company has 4 showrooms in Chennai, Madurai, Tirchy and
Pondicherry among that Tirchy and Pondicherry showroom is opened in the
previous year which gives not only yielded results but also gave confidence to
the management to initiate large format showroom in other cities. In the year
2013-2014 the company will open new 3 showrooms in Tirupati, Kumbakonam and
Bangalore and for that furnishing work of the showroom is going on.
Kumbakonam is one of the
oldest towns in Tamilnadu and is famous for its Mahamaham festiva and
Kombakonam the famous temple town of South India. The Company has already
signed lease deed to open a large format show room of Land Measuring 5,580 sq.
ft. along with super structure consisting of ground, 1 st, 2 nd and 3 rd floor storied
commercial building admeasuring 20,449 sq. ft. in the busy area of Karnakollai,
Agrahrharam, Kumbakonam and the showroom is expected to open within shorter
period of time.
Bangalore It is the capital
of the Indian State of Karnataka. It is also known as the “Garden City of
India”. The company has already signed lease deed to open a large format show
room at Door No-45, Sampige Road (2 nd Main road), Malleswaran, bangalore –
560003, admeasuring 7680 sq.ft. Along with super structure consisting of basement
floor, 1 st floor, 2 nd floor and 3 rd floor along with open terrace having a
built up area of 20705 Sq.Ft. and the showroom is expected to open before 11 th
December, 2013.
Tirupati is a major
pilgrimage and cultural city in the chittoor district in India. Tirupati is
famous for Venkateswara Swamy temple dedicated to Lord Venkateswara which
attracting a lot of devotees and tourists from all places. The company has
already signed lease deed to open a large format show room in D.No-481, 482,
Ready and Ready colony, Mosque Street, District: Chittor, Called K.V.R Estate
multi stored building which is under construction comprising of basement,
ground, silt and three floors admeasuring about 20,132 Sq. Ft. which is also
open within shorter period of time.
OUTLOOK FOR
2013-2014
Currently, the
Jewellery business is growing at a tremendous rate on the back of growing
demand and increase consumer performance. India is the world’s largest gold
consumer and this share expected to grow further because of Urbanization and a
rapidly expanding middle class have helped trigger Indian consumerism
especially in the gems and Jewellery sector. Overall, the year 2013-14 will be
a year where, the company is targeting an aggressive sales and financial growth
by:
(i) Increasing the
number of large shops / outlets in different cities / towns or by expansion of
network, there by taking their operation in many new towns / cities.
(ii) Many exciting
collections, across the category and price spectrum.
(iii) Focus market
initiatives in states or cities / towns where their performance can be much
better.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10494655 |
29/04/2014 |
50,000,000.00 |
CORPORATION BANK |
NO.38-39 WHITES
ROAD, CHENNAI - 600014 , TAMILNADU |
C04532313 |
|
2 |
10455948 |
10/10/2013 |
62,500,000.00 |
CORPORATION BANK |
NO.38-39 WHITES
ROAD, CHENNAI - 600014 , TAMILNADU, INDIA |
B87912846 |
|
3 |
10413746 |
05/03/2014 * |
6,124,400,000.00 |
STATE BANK OF
INDIA (LEAD BANK) |
COMMERCIAL
BRANCH, NO.232 NSC BOSE ROAD, CHENNAI - 600001, TAMILNADU, INDIA |
B98865629 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and
fixtures
- Vehicles
- Office equipment
- Computer equipments
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.60.16 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.82.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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.