MIRA
INFORM REPORT
|
Report Date : |
20.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
S. JOGANI EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DC – 1110, 1st Floor, D Tower, Bharat Diamond Bourse, Bandra
kurla Complex, Bandra (East), Mumbai – 400051, |
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|
Country : |
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|
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|
Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
01.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177210 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.40.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2008PTC177210 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Processor of rough diamonds. |
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|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade relations seem to be fair. Business is active. Payment terms are
reported as 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Kashyab |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9987990009 |
|
Date : |
19.11.2014 |
LOCATIONS
|
Registered Office : |
DC – 1110, 1st Floor, D Tower, Bharat Diamond Bourse,
Bandra kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-23642745/2749/3244 |
|
Mobile No.: |
91-9987990009 (Mr. Kashyab) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Factory: |
Lobdhi, 6/1928-29, Jadakhadi, Mahidharpura, |
|
Tel. No.: |
91-261-3008052/6698052 |
|
Fax No.: |
91-261-3919828 |
|
|
|
|
Office : |
No. 201-B, 2nd Floor, Pinnacle Corporate Park, Plot No. 19A,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-64596555/93219/75066 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Shaileshbhai Jivalal Jogani |
|
Designation : |
Director |
|
Address : |
31, Gitanjali, 3rd Floor, 73-75 Walkeshwar Road, Malabar Hill, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1955 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
01686620 |
|
PAN No.: |
AEBPJ3548M |
|
|
|
|
Name : |
Mr. Sanket Shaileshkumar Jogani |
|
Designation : |
Director |
|
Address : |
31, Gitanjali, 3rd Floor, 73-75 Walkeshwar Road, Malabar Hill, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1979 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
01693704 |
|
PAN No.: |
ABJPJ5890M |
|
|
|
|
Name : |
Mr. Sarju Shaileshkumar Jogani |
|
Designation : |
Director |
|
Address : |
31, Gitanjali, 3rd Floor, 73-75 Walkeshwar Road, Malabar Hill, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1978 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
01693683 |
|
PAN No.: |
ABJPJ5891L |
|
|
|
|
Name : |
Mr. Sureshkumar Khumchand Shah |
|
Designation : |
Director |
|
Address : |
1003 Adharshila Apartment, Near Mohan Park., Ghod-Dod Road, Parle Point, Surat- 395007, Gujarat, India |
|
Date of Appointment : |
11.02.2008 |
|
DIN No.: |
02071518 |
|
PAN No.: |
AGUPS8466Q |
KEY EXECUTIVES
|
Name : |
Mr. Kashyab |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Shaileshkumar Jivalal Jogani |
|
125000 |
|
Sanket Shailesh Jogani |
|
115000 |
|
Sarju Shailesh Jogani |
|
115000 |
|
Pushpa Shailesh Jogani |
|
75000 |
|
Sureshkumar Khumchand Shah |
|
100000 |
|
Zill Sanket Jogani |
|
10000 |
|
Sanjana Sarju Jogani |
|
10000 |
|
Shaileshkumar Jivalal Jogani Jointly With Mrs. Pushpa Shailesh Jogani |
|
1000000 |
|
Sarju Shailesh Jogani Jointly with Mrs. Sanjana Sarju Jogani |
|
175000 |
|
Sanket Shailesh Jogani Jointly with Mrs. Zill Sanket Jogani |
|
175000 |
|
Pushpa Shailesh Jogani Jointly With Mr. Shaileshkumar Jivalal Jogani |
|
100000 |
|
Total |
|
2000000 |
|
Names of Shareholders (Preference Shares Series A) |
|
No. of Shares |
|
Sarju Shailesh Jogani |
|
375000 |
|
Sanket Shailesh Jogani |
|
250000 |
|
Shaileshkumar Jivalal Jogani |
|
250000 |
|
Pushpa Shailesh Jogani |
|
125000 |
|
Total |
|
1000000 |
|
Names of Shareholders (Preference Shares Series B) |
|
No. of Shares |
|
Sarju Shailesh Jogani |
|
321429 |
|
Sanket Shailesh Jogani |
|
321429 |
|
Shaileshkumar Jivalal Jogani |
|
285714 |
|
Pushpa Shailesh Jogani |
|
71428 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processor of rough diamonds. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Polished Diamonds |
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Countries : |
·
USA ·
Belgium ·
Japan ·
Hong Kong |
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Imports : |
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Countries : |
·
Belgium ·
Dubai |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Ramesh Rajni and Company Chartered Accountants |
|
Address : |
Purshotam Building, 1st Floor, 450, Lamington Road, Opera House, Mumbai - 400 004, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFR7782K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises that
are directly or indirectly, through one or more intermediaries ,control or are controlled by, or under common control with company: |
· Symphony Gems International · Symphony Jewels |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
2000000 |
Preference Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
1000000 |
5% Optionally Convertible Redeemable Preference of Series A |
Rs.10/- each |
Rs. 10.000 Millions |
|
1000000 |
5% Optionally Convertible Redeemable Preference of Series B |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 40.000
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 |
40.000 |
40.000 |
30.000 |
|
(b) Reserves & Surplus |
465.218 |
391.986 |
261.382 |
|
(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) |
505.218 |
431.986 |
291.382 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
59.797 |
97.907 |
79.128 |
|
(b) Deferred tax liabilities
(Net) |
1.490 |
1.388 |
1.583 |
|
(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) |
61.287 |
99.295 |
80.711 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
625.887 |
404.796 |
502.083 |
|
(b) Trade payables |
667.439 |
798.210 |
801.205 |
|
(c) Other current liabilities |
38.659 |
12.860 |
81.892 |
|
(d) Short-term provisions |
8.776 |
6.465 |
22.610 |
|
Total
Current Liabilities (4) |
1340.761 |
1222.331 |
1407.790 |
|
|
|
|
|
|
TOTAL |
1907.266 |
1753.612 |
1779.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
93.710 |
84.366 |
93.841 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.655 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
68.092 |
65.892 |
23.464 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.817 |
19.600 |
34.251 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
188.274 |
169.858 |
151.556 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
575.618 |
585.939 |
399.443 |
|
(c) Trade receivables |
1117.570 |
968.733 |
1206.446 |
|
(d) Cash and cash equivalents |
17.068 |
22.874 |
14.532 |
|
(e) Short-term loans and
advances |
6.903 |
6.021 |
6.243 |
|
(f) Other current assets |
1.833 |
0.187 |
1.663 |
|
Total
Current Assets |
1718.992 |
1583.754 |
1628.327 |
|
|
|
|
|
|
TOTAL |
1907.266 |
1753.612 |
1779.883 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
4122.408 |
4205.551 |
3610.457 |
|
|
Other Income |
10.238 |
19.936 |
111.518 |
|
|
TOTAL
(A) |
4132.646 |
4225.487 |
3721.975 |
|
|
|
|
|
|
|
Less |
EXPENSES
(B) |
3976.455 |
4092.483 |
259.800 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
156.191 |
133.004 |
3462.175 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.550 |
17.176 |
17.141 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
118.641 |
115.828 |
3445.034 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
11.287 |
12.004 |
12.266 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
107.354 |
103.824 |
3432.768 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
34.122 |
33.220 |
30.211 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
73.232 |
70.604 |
3402.557 |
|
|
|
|
|
|
|
|
Exports of goods
and products |
2511.670 |
3118.140 |
2763.176 |
|
|
|
|
|
|
|
|
Value of Imports on
CIF Basis |
2977.604 |
3008.888 |
2757.273 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
18.31 |
NA |
NA |
|
PARTICULARS |
31.03.2014 |
|
|
|
|
Sales (Approximately) |
5750.000 |
Expected Sales (2014-2015): Rs.6000.000 Millions
The above information has been parted by Mr. Kashyab (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT/ Sales |
(%) |
1.78 |
1.68 |
94.24 |
|
|
|
|
|
|
|
PBIDT / Sales |
(%) |
3.79 |
3.16 |
95.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.85 |
6.15 |
195.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.24 |
11.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.36 |
1.16 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.30 |
1.16 |
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 |
30.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
261.382 |
391.986 |
465.218 |
|
Net
worth |
291.382 |
431.986 |
505.218 |
|
|
|
|
|
|
long-term borrowings |
79.128 |
97.907 |
59.797 |
|
Short term borrowings |
502.083 |
404.796 |
625.887 |
|
Total
borrowings |
581.211 |
502.703 |
685.684 |
|
Debt/Equity
ratio |
1.995 |
1.164 |
1.357 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3610.457 |
4205.551 |
4122.408 |
|
|
|
16.483 |
(1.977) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3610.457 |
4205.551 |
4122.408 |
|
Profit |
3402.557 |
70.604 |
73.232 |
|
|
94.24% |
1.68% |
1.78% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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
four years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
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.
OPERATIONS/WORKING
RESULTS
During the year, the Company has recorded sales of Rs.4122.408 Millions as compared to that of last year of Rs.4205.551 Millions and has generated Other Operating Income of Rs.8.977 Millions along with Other income of Rs.1.261 Millions in the current financial year as compared to that of Rs.18.964 Millions and Rs.0.973 Millions respectively, for corresponding previous year.
The Company has earned net profit to the tune of Rs.73.232 Millions as compared to that of Rs.70.604 Millions in respect of the corresponding previous year, after making provision for current tax including fringe benefit tax, wealth tax and deferred tax liabilities.
Barring unforeseen circumstances, further improvement in sale and profitability is expected in the current year in view of continued efforts being made. Further the company is taking effective steps to strengthen the profitability and financial soundness of the Company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
59.797 |
0.000 |
|
Loans and advances from directors |
0.000 |
89.907 |
|
Deferred payment liabilities |
0.000 |
8.000 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
79.500 |
75.000 |
|
Total |
139.297 |
172.907 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10097800 |
02/04/2014 * |
1,098,000,000.00 |
STATE BANK OF INDIA |
DIAMOND BRANCH, BHARAT DIAMOND BOURSE COMPLEX, D-3, WEST CORE, BANDRA KURLA COMPLEX, BANDRA (EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
C13838958 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· 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.61.83 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
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 |
|
46 |
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.