MIRA
INFORM REPORT
|
Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIKKA MAL JEWELLERS |
|
|
|
|
Registered
Office : |
455, The Mall, |
|
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 [Consolidated] |
|
|
|
|
Year of
Establishment : |
01.04.1967 |
|
|
|
|
Capital
Investment : |
Rs. 22.900 Millions |
|
|
|
|
IEC No.: |
3095000294 |
|
|
|
|
TIN No.: |
03302003714 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABFN7282Q |
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|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Trader of Gold, Silver and Diamond. |
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|
|
|
No. of Employees
: |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established partnership concern having moderate track
record. As per provisional record of 2014, the sales turnover of the concern has
drastically declined. Borrowings of the concern has also increased. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The concern can be considered for business dealings with some caution.
NOTE: The rating is
based on provisional financial information of 2014 and audited financial of
2013. |
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
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 willfully 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 |
CRISIL |
|
Rating |
Bank Guarantee = A4+ [Suspended] |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
July 31, 2014 |
Reason for suspension: Non-Cooperation by the
subject to carry out rating.
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. Nitin Bansal |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9876445400 |
|
Date : |
09.09.2014 |
LOCATIONS
|
Registered Office/ Showroom : |
455, The Mall, Ludhiana – 141001, Punjab, India |
|
Tel. No.: |
91-161-4010000/ 2411107 |
|
Mobile No.: |
91-9876445400 [Mr. Nitin Bansal] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Jalandhar Showroom : |
365-A, Lajpat Nagar, Opposite Gymkhana Club, Jalandhar, Punjab, India |
|
Tel. No.: |
91-181-4618000/ 4638000 |
PARTNERS
|
Name : |
Mr. Manak Chand Jain |
|
Designation : |
Partner |
|
Address : |
Ludhiana – 141001, Punjab, India |
|
|
|
|
Name : |
Mr. Chander Kant Jain |
|
Designation : |
Partner |
|
Address : |
Ludhiana – 141001, Punjab, India |
KEY EXECUTIVES
|
Name : |
Mr. Nitin Bansal |
|
Designation : |
Chartered Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Gold, Silver and Diamond. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit [30 Days] |
|
|
|
|
Purchasing : |
Cash and Credit [30 Days] |
GENERAL INFORMATION
|
Suppliers : |
· C.K. Jewels N.K. Bector and Company |
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|||||||||||||||
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Customers : |
Retailers and Others · Siroya Jewellers LLC |
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No. of Employees : |
7 (Approximately) |
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Bankers : |
· Corporation Bank Premises No. 5, Dasmesh Comple, New Lajpat Nagar, Pakhowal, Ludhiana –
141001, Punjab, India |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
· Nikka Mal Jewellers Private Limited Address: Ludhiana –
141001, Punjab, India Activity: Manufacturer,
Exporter and Trader of Gold, Silver and Diamond. |
CAPITAL STRUCTURE
AS ON 31.03.2014 [CONSOLIDATED]
|
Capital Investment : |
|
|
Owned : |
Rs. 22.900 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 22.900 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 [Consolidated] |
31.03.2013 [Consolidated] |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
22.900 |
25.996 |
31.483 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.900 |
25.996 |
31.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
86.586 |
31.827 |
42.520 |
|
|
2] Unsecured Loans |
11.817 |
5.552 |
12.400 |
|
|
TOTAL BORROWING |
98.403 |
37.379 |
54.920 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
121.303 |
63.375 |
86.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.347 |
1.468 |
0.469 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
3.859 |
33.480 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.006
|
10.183 |
28.805 |
|
|
Sundry Debtors |
0.396
|
19.752 |
1.322 |
|
|
Cash & Bank Balances |
76.579
|
6.509 |
32.930 |
|
|
Other Current Assets |
0.000
|
0.000 |
73.413 |
|
|
Loans & Advances |
15.458
|
45.736 |
15.099 |
|
Total
Current Assets |
127.439
|
82.180 |
151.569 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.483
|
24.132 |
99.115 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7.483
|
24.132 |
99.115 |
|
|
Net Current Assets |
119.956
|
58.048 |
52.454 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
121.303 |
63.375 |
86.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 [Consolidated] |
31.03.2013 [Consolidated] |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3464.899 |
8479.276 |
6407.549 |
|
|
|
Other Income |
0.312 |
2.638 |
16.838 |
|
|
|
TOTAL |
3465.211 |
8481.914 |
6424.387 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
3436.621 |
8445.254 |
6401.125 |
|
|
|
Labour charges paid |
1.719 |
0.010 |
0.432 |
|
|
|
MTF loss from Bank of Nova Scotia |
12.353 |
0.000 |
0.000 |
|
|
|
Advertisement |
0.235 |
0.083 |
0.369 |
|
|
|
Audit fees |
0.131 |
0.101 |
0.108 |
|
|
|
Bank charges |
0.400 |
1.024 |
2.279 |
|
|
|
Bank interest |
2.287 |
2.367 |
8.076 |
|
|
|
Charity and Donation |
0.136 |
0.207 |
0.024 |
|
|
|
Conveyance expenses |
0.012 |
0.013 |
0.000 |
|
|
|
Diwali expenses |
0.000 |
0.028 |
0.000 |
|
|
|
Electricity expenses |
0.182 |
0.178 |
0.000 |
|
|
|
Fees and taxes |
0.031 |
0.022 |
0.014 |
|
|
|
Income tax |
0.000 |
2.298 |
0.000 |
|
|
|
Insurance charges |
0.052 |
0.057 |
0.029 |
|
|
|
Interest on gold loan |
0.000 |
0.326 |
0.725 |
|
|
|
Interest on unsecured loan |
1.581 |
0.817 |
0.000 |
|
|
|
Loss on sale of car |
0.000 |
0.044 |
0.000 |
|
|
|
Legal expenses |
0.000 |
0.250 |
0.127 |
|
|
|
Motor cycle repair and maintenance |
0.016 |
0.025 |
0.000 |
|
|
|
Petrol and Diesel |
0.000 |
0.056 |
0.046 |
|
|
|
Professional charges |
0.022 |
0.025 |
0.094 |
|
|
|
Rent |
0.188 |
0.179 |
0.240 |
|
|
|
Repair and maintenance |
0.020 |
0.027 |
0.002 |
|
|
|
Salary to partner |
1.800 |
1.920 |
0.000 |
|
|
|
Salary to staff |
1.429 |
2.287 |
0.551 |
|
|
|
Sales promotion |
0.087 |
0.025 |
0.017 |
|
|
|
Staff welfare |
0.042 |
0.049 |
0.026 |
|
|
|
Telephone expenses |
0.033 |
0.030 |
0.000 |
|
|
|
Vehicle repair and maintenance |
0.000 |
0.031 |
0.000 |
|
|
|
Vehicle Insurance |
0.001 |
0.010 |
0.000 |
|
|
|
Bad debts |
0.000 |
0.040 |
0.000 |
|
|
|
Other expenses |
0.493 |
0.034 |
0.175 |
|
|
|
TOTAL |
3459.871 |
8457.817 |
6414.459 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.340 |
24.097 |
9.928 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.193 |
0.199 |
0.079 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
5.147 |
23.898 |
9.849 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 [Consolidated] |
31.03.2013 [Consolidated] |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.15
|
0.28 |
0.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.15
|
0.28 |
0.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.00
|
28.57 |
6.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.92 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.30 |
1.44 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
17.03 |
3.41 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013
[Consolidated] |
31.03.2014
[Consolidated] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Partner’s Capital |
31.483 |
25.996 |
22.900 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
31.483 |
25.996 |
22.900 |
|
|
|
|
|
|
Secured Loans |
42.520 |
31.827 |
86.586 |
|
Unsecured Loans |
12.400 |
5.552 |
11.817 |
|
Total
borrowings |
54.920 |
37.379 |
98.403 |
|
Debt/Equity ratio |
1.744 |
1.438 |
4.297 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013
[Consolidated] |
31.03.2014
[Consolidated] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6407.549 |
8479.276 |
3464.899 |
|
|
|
32.333 |
(59.137) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013
[Consolidated] |
31.03.2014
[Consolidated] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6407.549 |
8479.276 |
3464.899 |
|
Profit |
9.849 |
23.898 |
5.147 |
|
|
0.15% |
0.28% |
0.15% |
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 |
No |
|
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 |
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) |
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 |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Chander Kant Jain and Sons [HUF] |
0.078 |
0.000 |
|
Deepanker Jain |
0.020 |
0.177 |
|
Rachit Jain |
5.000 |
2.500 |
|
Ridhima Jain |
5.000 |
2.500 |
|
Seema Jain |
1.138 |
0.375 |
|
Vivek Mehra and Sons [HUF] |
0.581 |
0.000 |
|
|
|
|
|
Total |
11.817 |
5.552 |
------------------------------------------------------------------------------------------------------------------------------
MR.
CHANDER KANT JAIN
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
182.752 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
182.752 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
30.655 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
30.655 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
213.407 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.293 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
115.861 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.639 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
43.547 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
154.424 |
|
Total
Current Assets |
|
|
204.610 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
107.357 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
107.357 |
|
|
Net Current Assets |
|
|
97.253 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
213.407 |
|
------------------------------------------------------------------------------------------------------------------------------
MR.
MANAK CHAND JAIN
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
140.757 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
140.757 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
140.757 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.753 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
22.814 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.897 |
|
|
Sundry Debtors |
|
|
0.042 |
|
|
Cash & Bank Balances |
|
|
0.479 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
110.060 |
|
Total
Current Assets |
|
|
117.478 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.288 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
1.288 |
|
|
Net Current Assets |
|
|
116.190 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
140.757 |
|
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2015 |
2016 |
2017 |
|
|
|
Estimated |
Projections |
Projections |
|
|
|
|
|
|
|
1 |
Gross Sales Domestic |
3500.000 |
3600.000 |
3700.000 |
|
|
Export |
500.000 |
550.000 |
600.000 |
|
|
TOTAL |
4000.000 |
4150.000 |
4300.000 |
|
|
|
|
|
|
|
2 |
Less Excise Duty |
-- |
-- |
-- |
|
|
|
|
|
|
|
3 |
Net Sales (item
1-2) |
4000.000 |
4150.000 |
4300.000 |
|
|
|
|
|
|
|
4 |
Percentage of Rise or fall in net sales as compared to previous year |
15.44 |
3.75 |
3.61 |
|
|
|
|
|
|
|
5 |
Cost of Sales: |
|
|
|
|
i |
Raw Material including Stores and other item used in the progress of
Manufacture |
|
|
|
|
|
(a) Imported |
0.000 |
0.000 |
0.000 |
|
|
(b) Indigenous |
4138.200 |
4140.400 |
4289.800 |
|
|
|
|
|
|
|
ii |
Other Spares |
|
|
|
|
|
(a) Imported |
-- |
-- |
-- |
|
|
(b) Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
iii |
Power and fuel |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
iv |
Direct Labour |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
v |
Other manufacturing expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
vi |
Depreciation |
0.200 |
0.100 |
0.100 |
|
|
|
|
|
|
|
vii |
Sub Total(I to
Vi) |
4138.400 |
4140.500 |
4289.900 |
|
|
|
|
|
|
|
viii |
Add opening Stock in Progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sub Total |
4138.400 |
4140.500 |
4289.900 |
|
|
|
|
|
|
|
ix |
Deduct: Closing stock in progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
x |
Sub Total (cost
of Production) |
4138.400 |
4140.500 |
4289.900 |
|
|
|
|
|
|
|
xi |
Add: Opening stock of finished goods |
35.000 |
189.200 |
196.300 |
|
|
|
|
|
|
|
|
Sub Total |
4173.400 |
4329.800 |
4486.300 |
|
|
|
|
|
|
|
xii |
Deduct closing stock of finished goods |
189.200 |
196.300 |
203.400 |
|
|
|
|
|
|
|
xiii |
Sub Total (Cost
of Sales) |
3984.200 |
4133.500 |
4282.900 |
|
|
|
|
|
|
|
|
GROSS PROFIT |
15.800 |
16.500 |
17.100 |
|
|
|
|
|
|
|
6 |
Selling, General and Administrative Expenses |
4.900 |
5.100 |
5.300 |
|
|
|
|
|
|
|
7 |
SUB TOTAL(item
5+6) |
3989.000 |
4138.500 |
4288.100 |
|
|
|
|
|
|
|
8 |
Operating Profit (item 3-7) |
11.000 |
11.500 |
11.900 |
|
|
|
|
|
|
|
9 |
Interest |
5.300 |
5.600 |
5.600 |
|
|
|
|
|
|
|
10 |
Operating Profit after interest (item 8-9) |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
11 |
(I) Add: Other Non-Operating Income |
0.000 |
0.000 |
0.000 |
|
|
(a) Miscellaneous |
-- |
-- |
-- |
|
|
(b) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Sub Total Income |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(a) Miscellaneous |
0.000 |
0.000 |
0.000 |
|
|
(b) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Net of other Non-Operating Income/Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
12 |
Profit Before Tax (Item 10+11) |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
13 |
Provision for Taxes |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
14 |
Net Profit (Item
12-13) |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
15 |
(a) Equity Dividend/W.D |
0.000 |
0.000 |
0.000 |
|
|
(b) Dividend Rates |
-- |
-- |
-- |
|
|
|
|
|
|
|
16 |
Retained Profit |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
17 |
Retained
Profit/Net Profit (%) |
100.00% |
100.00% |
100.00% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2015 |
2016 |
2017 |
|
|
L I A B I L I T I E S |
Estimated |
Projections |
Projections |
|
|
Current Liabilities: |
|
|
|
|
1 |
Short term Borrowings from banks (including bill purchased and
Discounted and the excess borrowings placed on repayment basis) |
|
|
|
|
|
(I) From applicant bank |
95.000 |
95.000 |
95.000 |
|
|
(ii) From other banks |
89.000 |
89.000 |
89.000 |
|
|
|
|
|
|
|
|
Sub Total (A) |
184.000 |
184.000 |
184.000 |
|
|
|
|
|
|
|
2 |
Short term borrowing from others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
3 |
Sundry Creditors (trade) |
0.700 |
0.700 |
0.700 |
|
|
|
|
|
|
|
4 |
Advance/ Progress payments from Customers/Deposits from dealers,
selling agents, etc. |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
5 |
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
6 |
Dividend Payable |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
7 |
Other Statutory Liabilities (Due within one Year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
8 |
Deposits/Installments of Term loans Deferred Payment
Credits/Debentures/ redeemable Preference Shares (Due within one Year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9 |
Other Current Liabilities and Provisions (Due Within one Year) (major item
to be Specified individually) |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
Sub Total (B) |
1.200 |
1.200 |
1.200 |
|
|
|
|
|
|
|
10 |
Total Current
Liabilities(A+B) |
185.200 |
185.200 |
185.200 |
|
|
|
|
|
|
|
|
Term Liabilities |
|
|
|
|
11 |
Debentures (Not Maturing within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
12 |
Redeemable Preference Shares (not Maturity within one Year but of
Maturity not exceeding 12 years) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13 |
Term Loans (Exclusive of Installments Payable within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
14 |
Deferred Payment Credits (exclusive of installments payable within one
year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
15 |
Term Deposits ( repayable other one Year) |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
16 |
Other Term Liabilities (CAR LOAN) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
17 |
Total Term
Liabilities (Total of 11..16) |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
18 |
Total Outside
Liabilities (Item 10+17) |
200.200 |
200.200 |
200.200 |
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
19 |
Ordinary Share Capital |
41.900 |
51.600 |
57.500 |
|
|
|
|
|
|
|
20 |
General Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
21 |
State Subsidy |
-- |
-- |
-- |
|
|
|
|
|
|
|
22 |
Other Reserves (Excluding Provisions) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
23 |
Surplus(+) or Deficit(-) in Profit and Loss Account |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
24 |
Net Worth (total
of item 19..23) |
47.600 |
57.500 |
63.800 |
|
|
|
|
|
|
|
25 |
Total
liabilities (item 18+24) |
247.700 |
257.600 |
263.900 |
|
|
|
|
|
|
|
|
A S S E T S |
|
|
|
|
|
Current Assets: |
|
|
|
|
26 |
Cash and Bank Balances |
6.800 |
9.300 |
8.200 |
|
|
|
|
|
|
|
27 |
Investments (other than long term investments e.g. Sinking funds,
Gratuity funds etc.) |
|
|
|
|
|
i) Government and other trusted securities |
-- |
-- |
-- |
|
|
ii) FDR with banks |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
28 |
(I) Receivable other than deferred and export receivables (including
bills purchased and Discounted by bankers) |
14.600 |
15.000 |
15.400 |
|
|
|
|
|
|
|
|
ii) Export receivable(including bill purchased and Discounted by
bankers) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
29 |
Installments of Deferred receivable (due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
30 |
Inventory |
|
|
|
|
|
(I) Raw Material (including
stores and other items used in the Process) |
|
|
|
|
|
(a) Imported |
-- |
-- |
-- |
|
|
(b) Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(ii) Stock in Process |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(iii) Finished goods |
189.200 |
196.300 |
203.400 |
|
|
|
|
|
|
|
|
(iv) Other Consumable Spares |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
31 |
Advance to Suppliers of raw material and Stores/Spares Consumable |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
32 |
Advance Payments of Taxes |
2.000 |
2.000 |
2.000 |
|
|
|
|
|
|
|
33 |
Other Current assets (major items to be specified individually Prepaid
expense/ receivable) |
14.500 |
14.500 |
14.500 |
|
|
|
|
|
|
|
34 |
Total current
assets (total of 26..33) |
242.100 |
252.100 |
258.500 |
|
|
|
|
|
|
|
|
FIXED ASSETS: |
|
|
|
|
35 |
Gross block (land and building, machinery, construction-in-progress) |
2.000 |
2.000 |
2.000 |
|
|
|
|
|
|
|
36 |
Depreciation to date |
0.900 |
1.000 |
1.100 |
|
|
|
|
|
|
|
37 |
Net block (item
35-36) |
1.100 |
1.000 |
0.900 |
|
|
|
|
|
|
|
|
OTHER NON-CURRENT ASSETS: |
|
|
|
|
38 |
Investments, block debts advances/ deposits which are not current
assets: |
|
|
|
|
|
(I) (a) Investments in Subsidiary company |
-- |
-- |
-- |
|
|
(b) Other (book debts) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(ii) Advance to Suppliers of Capital expenditure |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Deferred receivable (other than maturing within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iv) others |
-- |
-- |
-- |
|
|
|
|
|
|
|
39 |
Non Consumable Stores and Spares |
-- |
-- |
-- |
|
|
|
|
|
|
|
40 |
Other Miscellaneous Assets (including Due from directors) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
41 |
Total other
non-current assets (total of Item 38..40) |
4.500 |
4.500 |
4.500 |
|
|
|
|
|
|
|
42 |
Intangible Assets (patent, goodwill, preliminary and formation
expenses/ bad/ doubt not provided for etc.) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
43 |
Total Assets |
247.700 |
257.600 |
263.900 |
|
|
|
|
|
|
|
44 |
Tangible Net
worth (item 24-42) |
47.600 |
57.500 |
63.800 |
|
|
|
|
|
|
|
45 |
Net Working
Capital (item 34-10) |
57.000 |
67.000 |
73.400 |
|
|
|
|
|
|
|
46 |
Current Ratio
(34/10) |
1.31 |
1.36 |
1.40 |
|
|
|
|
|
|
|
47 |
Total outside
liabilities/Tangible Net Worth (18/44) |
4.21 |
3.48 |
3.14 |
|
|
|
|
|
|
|
48 |
Total outside
liabilities/(Equity+ Quasi Equity) |
2.96 |
2.56 |
2.35 |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2015 |
2016 |
2017 |
|
|
|
Estimated |
Projections |
Projections |
|
1 |
SOURCES: |
|
|
|
|
|
|
|
|
|
|
|
a. Net Profit after tax |
5.700 |
5.900 |
6.300 |
|
|
|
|
|
|
|
|
b. Depreciation |
0.200 |
0.100 |
0.100 |
|
|
|
|
|
|
|
|
c. Increase in capital |
19.000 |
4.000 |
0.000 |
|
|
|
|
|
|
|
|
d. Increase in term liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
e. Decrease in |
|
|
|
|
|
(i)
Fixed assets |
0.000 |
0.000 |
0.000 |
|
|
(ii)
Other non-current assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
f. Others |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
g.
TOTAL |
24.900 |
10.000 |
6.000 |
|
|
|
|
|
|
|
2 |
USES
: |
|
|
|
|
|
|
|
|
|
|
|
a. Net loss |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
b. Decrease in term liabilities |
(3.200) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
c. Increase in |
|
|
|
|
|
('I)
Fixed assets |
0.000 |
0.000 |
0.000 |
|
|
(ii)
Other non-current assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
d. Dividend Payments |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
e. Others |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
f.
TOTAL |
(3.200) |
0.000 |
0.000 |
|
|
|
|
|
|
|
3 |
Long term Surplus(+)/Deficit(-) (1-2) |
28.100 |
10.000 |
6.400 |
|
|
|
|
|
|
|
4 |
Increase/decrease in current assets |
119.100 |
10.000 |
6.400 |
|
|
|
|
|
|
|
5 |
Increase/decrease in current liabilities
other bank borrowing |
(6.300) |
0.000 |
0.000 |
|
|
|
|
|
|
|
6 |
Increase/decrease in Working Capital Gap |
125.500 |
10.000 |
6.400 |
|
|
|
|
|
|
|
7 |
Net Surplus (+)/deficit(-) (Diff of
3&6) |
(97.400) |
0.000 |
0.000 |
|
|
|
|
|
|
|
8 |
Increase/decrease in bank borrowings |
97.400 |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2015 |
2016 |
2017 |
|
|
|
Estimated |
Projections |
Projections |
|
A |
Current
Assets: |
|
|
|
|
|
(I) Raw Material (including Stores and in
process of manuf. other items used |
|
|
|
|
|
(a)
Imported |
-- |
-- |
-- |
|
|
(Month Consumption) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(b)
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
(Month Consumption) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
(ii) Other Consumable Spares (Excluding
those included under item (I) above |
|
|
|
|
|
(a)
Imported |
-- |
-- |
-- |
|
|
(Month Consumption) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(b)
Indigenous |
-- |
-- |
-- |
|
|
(Month Consumption) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Stock in Progress |
0.000 |
0.000 |
0.000 |
|
|
(Month Cost of Production) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
(iv) Finished goods |
189.200 |
196.300 |
203.400 |
|
|
(month Cost of Production) |
0.57 |
0.57 |
0.57 |
|
|
|
|
|
|
|
|
(v) Receivable other than expenses
deferred receivable (including month domestic sales and Deferred payment
sales) |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
(vi) Export receivables (including Purchased and Discounted) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(vii) Advance to Suppliers of Raw Material
and Stores/spares consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(viii) Other Current Assets including Cash
and bank Balance and Deferred receivable due with one year (major item to be
Specified individually) |
38.300 |
40.800 |
39.700 |
|
|
|
|
|
|
|
|
Total
Current Assets (To
agree with item 34 in form III) |
242.100 |
252.100 |
258.500 |
|
|
|
|
|
|
|
B |
Current
liabilities: |
|
|
|
|
|
(Other than bank borrowing for working Capital) |
|
|
|
|
|
|
|
|
|
|
I |
Creditors for Purchases of raw material
and Stores and Consumable Spares |
0.700 |
0.700 |
0.700 |
|
|
(month Purchase) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Others Creditors |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
ii |
Advance from Customers |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
iii |
Accrued Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
iv |
MTL Repayment |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
v |
Other
Current Liabilities (major
item to be Specified individually) |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
Subtotal: |
1.200 |
1.200 |
1.200 |
|
|
(To
agree with subtotal (b) in form III) |
|
|
|
|
|
|
|
|
|
|
C |
Working Capital Gap (item I-ii) |
241.000 |
251.000 |
257.400 |
|
|
|
|
|
|
|
D |
Actual /Projected bank borrowing for
working capital including bills purchased and discounted and Excess borrowing
placed on repayment basis |
184.000 |
184.000 |
184.000 |
|
|
(To agree with subtotal A in form III) |
|
|
|
|
|
|
|
|
|
|
E |
Total
Current Liabilities (B+D) |
185.200 |
185.200 |
185.200 |
|
|
|
|
|
|
|
F |
Net
working Capital (A-E) |
57.000 |
67.000 |
73.400 |
|
|
To
agree with item 45 in form III |
|
|
|
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
2015 |
2016 |
2017 |
|
|
|
Estimated |
Projections |
Projections |
|
1 |
Total Current Assets (9 in form IV) |
242.100 |
252.100 |
258.500 |
|
|
|
|
|
|
|
2 |
Other Current Liabilities |
1.200 |
1.200 |
1.200 |
|
|
Other than bank borrowings (14 to part iv) |
|
|
|
|
|
|
|
|
|
|
3 |
Working Capital Gap (1-2) |
241.000 |
251.000 |
257.400 |
|
|
|
|
|
|
|
4 |
Minimum Stipulated Net Working Capital
(25% of item 3) |
60.500 |
63.000 |
64.600 |
|
|
|
|
|
|
|
5 |
Actual/Projected Net Working capital (45
in form 111) |
57.000 |
67.000 |
73.400 |
|
|
|
|
|
|
|
6 |
Item 3- Item 4 |
180.400 |
187.900 |
192.700 |
|
|
|
|
|
|
|
7 |
Item 3- Item 5 |
184.000 |
184.000 |
184.000 |
|
|
|
|
|
|
|
8 |
Maximum Permissible bank finance (item 6
or 7 which is less) |
180.400 |
184.000 |
184.000 |
|
|
|
|
|
|
|
9 |
Excess borrowing (representing short fall
in Net working capital to be converted into working capital (item 4-5) |
(3.600) |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
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.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Air Conditioner
Building
Camera
Computer
Cooler
Vehicles
Fire
Extinguisher
Furnace
Furniture
and Fixture
Generator
Inverter
Machinery
Photostate
Machine
Telephone
Television
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. 60.99 |
|
|
1 |
Rs. 99.10 |
|
Euro |
1 |
Rs. 79.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.