MIRA
INFORM REPORT
|
Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARI KRISHNA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.1701, "The Capital", 17th Floor, B-Wing, Plot No.C-70,
Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.02.2012 |
|
|
|
|
Com. Reg. No.: |
11-227014 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1133.550 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2012PTC227014 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH13959B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH8430N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Diamond |
|
|
|
|
No. of Employees
: |
6000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14098000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s established track record of business operations
supported by diversified clientele base across geographies and sound general
financial position. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
October 08, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
October 08, 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 PARTED BY
|
Name : |
Mr. Nyandev |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-49173886 |
|
Date : |
02.04.2014 |
LOCATIONS
|
Registered Office : |
Unit No.1701, "The Capital", 17th Floor, B-Wing, Plot
No.C-70, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra,
India |
|
Tel. No. : |
91-22-49173886 |
|
Fax No. : |
91-22-23643266 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Corporate Office : |
315, Prasad Chambers, Opera House, Mumbai – 400004, |
|
Tel. No. : |
91-22-43004300 / 23678111 / 23678112 / 23678113 |
|
Fax No. : |
91-22-23643266 |
|
|
|
|
Factory / Branch Office: |
9, Hari Krishana Campus, Near Viraj Chowk, Behind Sarthana Jakat Naka,
Varaccha Road, Simada Gam, Surat – 395006, Gujarat, India |
|
Tel. No.: |
91-261-6544251 / 6544252 |
|
Fax No.: |
91-261-2535027 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located At ·
New
York ·
Belgium
·
Hong
Kong ·
China
|
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Ghanshyambhai Dhanjibhai Dholakia |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 62-6, Mont Blanc Bld, Dadyseth Hill, 572, Augustkranti Marg,
Mumbai – 400036, Maharashtra India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
01474986 |
|
|
|
|
Name : |
Mr. Savjibhai Dhanjibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam
Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
12.04.1962 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
02069387 |
|
|
|
|
Name : |
Mr. Hasmukh Thakersibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
201, 2nd Floor, Yash Co-Operative Society, August Kranti
Marg, Gowalia Tank, Mumbai - 400026 Maharashtra, India |
|
Date of Birth/Age : |
01.03.1974 |
|
Date of Appointment : |
16.02.2012 |
|
DIN No. : |
01474973 |
|
|
|
|
Name : |
Mr. Tulsibhai Dhanjibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam
Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
15.04.1964 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
03268245 |
|
|
|
|
Name : |
Kuravas Balakrishnan Rajgopalan |
|
Designation : |
Director |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
06416811 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Ghanshyambhai Dhanjibhai Dholakia |
198800 |
|
Savjibhai Dhanjibhai Dholakia |
2286200 |
|
Hasmukh Thakersibhai Dholakia |
2683800 |
|
Himmatbhai D. Dholakia |
1888600 |
|
Tulsibhai Dhanjibhai Dholakia |
2286200 |
|
Naresh Lunagaria |
298200 |
|
Bharatbhai Patel |
298200 |
|
|
|
|
Total |
9940000 |
|
Names of Shareholders (Redeemable Preferences Shares) |
0% |
12% |
6% |
|
Ghanshyambhai Dhanjibhai Dholakia |
1268301 |
-- |
-- |
|
Savjibhai Dhanjibhai Dholakia |
14585461 |
1700000 |
14000000 |
|
Hasmukh Thakersibhai Dholakia |
17122063 |
2800000 |
12000000 |
|
Himmatbhai D. Dholakia |
12048859 |
500000 |
4000000 |
|
Tulsibhai Dhanjibhai Dholakia |
14585461 |
-- |
5000000 |
|
Naresh Lunagaria |
1902451 |
-- |
-- |
|
Bharatbhai Patel |
1902451 |
-- |
-- |
|
|
|
|
|
|
Total |
9940000 |
5000000 |
35000000 |
As on 21.03.2014
|
Names of Allottee (Equity
Shares) |
No. of Shares |
|
Savjibhai D. Dholakia |
108000 |
|
Ghanshyambhai Dhanjibhai Dholakia |
92000 |
|
Tulsibhai Dhanjibhai Dholakia |
92000 |
|
Himmatbhai D. Dholakia |
76000 |
|
Naresh Lunagaria |
12000 |
|
Bharatbhai Patel |
12000 |
|
Hasmukh Thakersibhai Dholakia |
8000 |
|
|
|
|
Total |
400000 |
As on 30.10.2013
|
Names of Allottee (6%
Redeemable Preferences Shares) |
No. of Shares |
|
Himmatbhai D. Dholakia |
1000000 |
|
Tulsibhai Dhanjibhai Dholakia |
6000000 |
|
|
|
|
Total
|
7000000 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Diamond |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds |
|
Countries : |
·
USA ·
Hong Kong ·
Israel ·
Singapore ·
Japan |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Russia ·
Belgium ·
Israel |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
6000 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
State Bank of India, Diamond Branch, Mumbai, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SREI Equipment Finance Limited, Vishwakarma, 86C, Topsia Road, Kolkata
– 700046, west Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Nisim and Company Chartered Accountants |
|
Address : |
Mumbai, |
|
PAN No.: |
|
|
|
|
|
Associates |
3rd Floor, WICEL Administrative
Building, WICEL Compound, Opposite SEEPZ Main Gate, MIDC, Andheri (East),
Mumbai – 400093, Maharashtra Tel No. : 91-22-67160000 / 67049710 Fax No.: 91-22-67049750 Email : wicel@hkinfo.com
Unit No. 113, Plot No. 54, SDF – IV,
SEEPZ-SEZ, Andheri (East), Mumbai – 400096, Maharashtra, India Tel No. : 91-22-67554444 / 67161616 Fax No.: 91-22-67161626 / 67161636 Email : mfg@jewlrybyhk.com
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
114000000 |
Preference Shares |
Rs.10/- each |
Rs.1140.000 Millions |
|
|
Total |
|
Rs.1260.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9940000 |
Equity Shares |
Rs.10/- each |
Rs.99.400 Millions |
|
103415047 |
Preference Shares |
Rs.10/- each |
Rs.1034.150 Millions |
|
|
Total |
|
Rs.1133.550
Millions |
After 28.09.2013
Authorised Capital : Rs. 1560.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1207.550
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1133.550 |
149.400 |
|
(b) Reserves & Surplus |
|
2320.974 |
1690.451 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
70.000 |
634.150 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3524.524 |
2474.001 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
455.919 |
345.466 |
|
(b) Deferred tax liabilities (Net) |
|
37.656 |
25.777 |
|
(c) Other long term liabilities |
|
2.078 |
2.078 |
|
(d) long-term provisions |
|
22.105 |
16.010 |
|
Total
Non-current Liabilities (3) |
|
517.758 |
389.331 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4706.817 |
3292.863 |
|
(b) Trade payables |
|
2741.692 |
3584.126 |
|
(c) Other current liabilities |
|
307.683 |
280.135 |
|
(d) Short-term provisions |
|
33.801 |
9.218 |
|
Total
Current Liabilities (4) |
|
7789.993 |
7166.342 |
|
|
|
|
|
|
TOTAL |
|
11832.275 |
10029.674 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1836.030 |
1095.993 |
|
(ii) Intangible Assets |
|
95.860 |
115.545 |
|
(iii) Capital work-in-progress |
|
3.700 |
2.440 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
34.725 |
9.725 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
111.202 |
173.790 |
|
(e) Other Non-current assets |
|
67.201 |
64.934 |
|
Total
Non-Current Assets |
|
2148.718 |
1462.427 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
6062.022 |
5725.791 |
|
(c) Trade receivables |
|
3392.517 |
2748.838 |
|
(d) Cash and cash equivalents |
|
90.470 |
35.402 |
|
(e) Short-term loans and advances |
|
102.096 |
30.061 |
|
(f) Other current assets |
|
36.452 |
27.155 |
|
Total
Current Assets |
|
9683.557 |
8567.247 |
|
|
|
|
|
|
TOTAL |
|
11832.275 |
10029.674 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1396.420 |
123.777 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
314.265 |
30.164 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1082.155 |
93.613 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
134.110 |
10.427 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
948.045 |
83.186 |
|
|
|
|
|
|
|
Less |
TAX |
|
309.676 |
44.277 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
638.369 |
38.909 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
5.36 |
0.34 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.04 |
0.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.27 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.46 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.24 |
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
149.400 |
1133.550 |
|
Reserves & Surplus |
1690.451 |
2320.974 |
|
Net
worth |
1839.851 |
3454.524 |
|
|
|
|
|
long-term borrowings |
345.466 |
455.919 |
|
Short term borrowings |
3292.863 |
4706.817 |
|
Total
borrowings |
3638.329 |
5162.736 |
|
Debt/Equity
ratio |
1.978 |
1.494 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
1.287 |
1.287 |
|
|
|
|
|
Total |
1.287 |
1.287 |
|
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
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
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.
NOTE:
The registered address of the company has been shifted from 315, Prasad
Chambers, Opera House Mumbai – 400004, Maharashtra, India to the present address
w.e.f 11.02.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from directors |
169.684 |
345.013 |
|
Loans and advance from others |
5.879 |
0.000 |
|
|
|
|
|
Total |
175.563 |
345.013 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10483493 |
10/03/2014 |
150,000,000.00 |
UNION BANK OF INDIA |
Overseas Branch, Union Bank Bhavan, Ground Floor, |
B98863657 |
|
2 |
10486790 |
03/03/2014 |
4,500,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, West Bengal - 700046, INDIA |
C01126077 |
|
3 |
10450962 |
30/08/2013 |
150,000,000.00 |
State Bank of India |
Diamond Branch, D-3,West Core, Bharat Diamond Bourse, BKC, Bandra
-East, Mumbai, Maharashtra - 400051, INDIA |
B85700789 |
|
4 |
10392546 |
12/11/2012 |
1,919,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE,
AHMEDABAD, Gujarat - 380006, INDIA |
B64352263 |
|
5 |
10375522 |
20/07/2012 |
400,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B57694846 |
|
6 |
10353182 |
14/11/2013 * |
8,295,800,000.00 |
State Bank of India |
DIAMOND BRANCH, BHARAT DIAMOND BOURSE, D3, BLDG NO.4, G-BLOCK, BANDRA
KURLA COMPLEX, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA |
B90393463 |
|
7 |
10354282 |
14/11/2013 * |
8,295,800,000.00 |
State Bank of India |
DIAMOND BRANCH, BHARAT DIAMOND BOURSE, D3, BLDG NO.4, G-BLOCK, BANDRA KURLA
COMPLEX, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA |
B90394180 |
* Date of charge modification
FINANCIAL RESULTS:
After conversion
of the erstwhile partnership firm M/s Hari Krishna Export into a Pvt. Ltd. Company,
the year under report is full year of operations and the directors are pleased
to report satisfactory results for the Company. During the year , the Company
has shifted its registered office to the spacious office premises at “The
Capital”, Bandra-Kurla Complex. The new office is more customer and employee
friendly and has been greeted enthusiastically by customers through repeated
visits.
On the raw
material front, rough sourcing has been greatly helped on account of the company
being selected as sight holder by DTC for the period Apr 2012 to Mar 2015. Rio
Tinto has also included the companies name under the ‘Select Diamantaire’ list,
by virtue of which the
The Company is
successfully participating in Indian and International trade show which results
in recognition of the company in market.
Another important
achievement of the company has been its becoming a certified member of the
Responsible Jewellery Council. The Company also has received excellence in
export award from GJEPC for the 10 years in succession.
The prudent
hedging policy of the Company ensures that the performance of the Company is
not adversely affected adversely, due to foreign exchange fluctuations. The
Company also exercises control over inventories and thus minimise the impact of
fluctuation in currency and commodity. The sales growth during the year 2012-13
has been 47% over the last year and their directors are sanguine to achieve
better this rate to more than 50% this year.
FIXED ASSETS
œ
Buildings
œ
Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
œ 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 exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.