MIRA INFORM REPORT
|
Report No. : |
315009 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
FINE JEWELLERY MANUFACTURING LIMITED |
|
|
|
|
Registered
Office : |
Plot No. GJ/12, Seepz Sez ++ Complex, MIDC, Marol, Andheri (East),
Mumbai – 400096, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.10.2001 |
|
|
|
|
Com. Reg. No.: |
11-133589 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 166.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2001PLC133589 |
|
|
|
|
IEC No.: |
2702000053 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF028648 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAALF5736D / AAACF5736D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Diamond Studded Gold,
Platinum Jewellery etc. |
|
|
|
|
No. of Employees
: |
500 (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 company having moderate track record. The rating takes into consideration stiff competition from the dominant
unorganized players as well as established organized players. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
cautions. |
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits: BB- |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund / Non fund based limits: A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
February 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mrs. Shweta Dhawde |
|
Designation : |
Senior Officer Accountant |
|
Contact No.: |
91-22-30804080 |
|
Date : |
30.03.2015 |
LOCATIONS
|
Registered Office/ Export Unit/ Factory : |
Plot No. GJ/12, Seepz Sez ++ Complex, MIDC, Marol, Andheri (East),
Mumbai – 400096, Maharashtra, India |
|
Tel. No.: |
91-22-30804080 |
|
Fax No.: |
91-22-28292728/ 30804168 |
|
E-Mail : |
|
|
Website : |
http://www.fine-jewellery.com |
|
Location : |
Owned |
|
|
|
|
Domestic Unit: |
Fine Jewellery ( Plot No. 14, WICEL, Opposite Seepz, MIDC, Andheri (East), Mumbai –
400093, Maharashtra, India |
|
Tel. No.: |
91-22-30813939 |
|
Fax No.: |
91-22-30813999 |
|
E-Mail : |
|
|
|
|
|
|
FJIL, Inc 608, 5th Avenue, Suite # 405 A, New York – 10020 Nirvana Inc. 4923, East, 71st Street, Tulsa, Oklahoma 74136 |
|
|
|
|
|
Thangam Jewel LLC, 301, |
|
Tel. No.: |
97 1 42 258019 |
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Fax No.: |
97 1 42 260495 |
|
E-Mail : |
DIRECTORS
As on 08.09.2014
|
Name : |
Mr. Premkumar Lalitkumar Kothari |
|
Designation : |
Managing director |
|
Address : |
131 - C Rambha, 66, Nepeansea Road, Mumbai - 400006, Maharashtra,
India |
|
Date of Birth/Age : |
18.05.1951 |
|
Qualification : |
B.Com |
|
Experience : |
35 Years |
|
Date of Appointment : |
08.10.2001 |
|
PAN No.: |
AGQPK9078C |
|
DIN No.: |
00103026 |
|
|
|
|
Name : |
Mr. Sohil Premkumar Kothari |
|
Designation : |
Director |
|
Address : |
131 - C Rambha,
66, Nepeansea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
11.12.1978 |
|
Qualification : |
B.Com and G.I.A. Graduate |
|
Experience : |
15 Years |
|
Date of Appointment : |
01.09.2008 |
|
PAN No.: |
AABPK2538C |
|
DIN No.: |
00102962 |
|
|
|
|
Name : |
Mr. Saurabh Surendrabhai Bhow |
|
Designation : |
Director |
|
Address : |
21, Sumadhur Co-operative
Society Near Manek Bag Society, Ambawadi, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
24.07.1956 |
|
Qualification : |
B. Com |
|
Experience : |
30 Years |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
01564598 |
|
|
|
|
Name : |
Mr. Viral Premkumar Kothari |
|
Designation : |
Director |
|
Address : |
131 - C Rambha,
66, Nepeansea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1983 |
|
Qualification : |
B.Com, G.I.A. Graduate and a Supply Chain Management Graduate from
Michigan University |
|
Experience : |
10 Years |
|
Date of Appointment : |
30.09.2008 |
|
PAN No.: |
AHJPK4351M |
|
DIN No.: |
02380318 |
KEY EXECUTIVES
|
Name : |
Mrs. Shweta Dhawde |
|
Designation : |
Senior Officer Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Kothari Lalitkumar Premkumar |
|
1236510 |
|
Kothari Premkumar Smita |
|
448800 |
|
Kothari Premkumar Sohil |
|
1012130 |
|
Kothari Sohil Dharini |
|
20800 |
|
Kothari Premkumar Viral |
|
994560 |
|
Bhow Surendra Nilesh |
|
1890400 |
|
M. Shashikant Exports Limited, India |
|
3996800 |
|
Total |
|
9600000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Kothari Lalitkumar Premkumar |
|
440000 |
|
Kothari Premkumar Sohil |
|
120000 |
|
Kothari Premkumar Viral |
|
440000 |
|
Bhow Surendra Nilesh |
|
6000000 |
|
|
|
|
|
Total |
|
7000000 |
Equity Share Break up (Percentage of Total Equity)
As on 08.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
19.69 |
|
Bodies corporate |
41.63 |
|
Directors or relatives of Directors |
38.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamond Studded Gold,
Platinum Jewellery etc. |
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Products/ Services : |
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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 : |
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Countries : |
· UK · USA · Europe · Australia · Canada and Middle East |
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Imports : |
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Products : |
Casting Powder, Wax Alloy, Machinery Spares, Silver, Colour Stones,
Diamonds etc. |
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Countries : |
· Italy · UK · Japan · Germany · USA |
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Terms : |
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Selling : |
Cash and Credit [30--90 Days] |
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Purchasing : |
Cash and Credit [30-90 Days] |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Kantilal Parekh and Company Chartered Accountants |
|
Address : |
606, Om Chambers, 123 August, Kranti Marg, Kemps Corner, Grant Road, Mumbai, Maharashtra, India |
|
Tel No.: |
91-22-23677489/ 90 |
|
Fax No.: |
91-22-23631828 |
|
Email : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAXPP0620J |
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|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Associates: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 130.000 Millions |
|
7,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 96.000
Millions |
|
7,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
|
|
Total |
|
Rs. 166.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
166.000 |
166.000 |
166.000 |
|
(b) Reserves & Surplus |
242.811 |
225.704 |
192.140 |
|
(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) |
408.811 |
391.704 |
358.140 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.210 |
0.793 |
1.412 |
|
(b) Deferred tax liabilities
(Net) |
2.761 |
1.742 |
1.419 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.123 |
9.332 |
8.932 |
|
Total
Non-current Liabilities (3) |
11.094 |
11.867 |
11.763 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
593.938 |
499.781 |
561.896 |
|
(b) Trade payables |
356.995 |
303.342 |
284.852 |
|
(c) Other current liabilities |
26.099 |
27.342 |
25.023 |
|
(d) Short-term provisions |
23.027 |
22.990 |
19.304 |
|
Total
Current Liabilities (4) |
1000.059 |
853.455 |
891.075 |
|
|
|
|
|
|
TOTAL |
1419.964 |
1257.026 |
1260.978 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
118.550 |
125.896 |
133.816 |
|
(ii) Intangible Assets |
19.125 |
12.986 |
0.000 |
|
(iii) Capital work-in-progress |
22.500 |
30.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
43.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.766 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.326 |
18.445 |
20.018 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
180.501 |
187.327 |
197.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
658.941 |
530.559 |
500.648 |
|
(c) Trade receivables |
521.600 |
505.671 |
530.235 |
|
(d) Cash and cash equivalents |
50.369 |
16.869 |
13.570 |
|
(e) Short-term loans and
advances |
8.553 |
16.600 |
18.925 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1239.463 |
1069.699 |
1063.378 |
|
|
|
|
|
|
TOTAL |
1419.964 |
1257.026 |
1260.978 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1540.576 |
1456.485 |
1522.967 |
|
|
Other Income |
20.680 |
4.128 |
15.072 |
|
|
TOTAL
(A) |
1561.256 |
1460.613 |
1538.039 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1216.457 |
1075.933 |
1214.579 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(44.332) |
29.419 |
(14.542) |
|
|
Employees benefits expense |
119.502 |
118.027 |
122.374 |
|
|
Other expenses |
130.674 |
103.781 |
91.087 |
|
|
TOTAL
(B) |
1422.301 |
1327.160 |
1413.498 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
138.955 |
133.453 |
124.541 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
93.771 |
75.051 |
65.839 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.184 |
58.402 |
58.702 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
18.423 |
18.305 |
19.670 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
26.761 |
40.097 |
39.032 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
4.741 |
6.534 |
6.460 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
22.020 |
33.563 |
32.572 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
225.704 |
192.140 |
145.569 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Dividend on Preference Shares |
4.200 |
0.000 |
0.000 |
|
|
Corporate Dividend Tax |
0.714 |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S |
242.811 |
225.704 |
178.140 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
NA |
1448.957 |
1510.359 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
465.203 |
464.462 |
|
|
Stores & Spares |
NA |
0.000 |
7.636 |
|
|
Capital Goods |
NA |
4.259 |
620.609 |
|
|
TOTAL
IMPORTS |
NA |
469.462 |
1092.707 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.29 |
3.50 |
1.96 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.43 |
2.30 |
2.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.02 |
9.16 |
8.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91 |
3.27 |
3.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.45 |
1.28 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.25 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
166.000 |
166.000 |
166.000 |
|
Reserves & Surplus |
192.140 |
225.704 |
242.811 |
|
Net
worth |
358.140 |
391.704 |
408.811 |
|
|
|
|
|
|
long-term borrowings |
1.412 |
0.793 |
0.210 |
|
Short term borrowings |
561.896 |
499.781 |
593.938 |
|
Total
borrowings |
563.308 |
500.574 |
594.148 |
|
Debt/Equity
ratio |
1.573 |
1.278 |
1.453 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1522.967 |
1456.485 |
1540.576 |
|
|
|
(4.365) |
5.774 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1522.967 |
1456.485 |
1540.576 |
|
Profit |
32.572 |
33.563 |
22.020 |
|
|
2.14% |
2.30% |
1.43% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
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 |
Yes |
DIAMOND INDUSTRY –
INDIA
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
Excerpts from Times of India dated 30th October 2010 is as
under –
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
13.565 |
0.175 |
|
Total |
13.565 |
0.175 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10021493 |
17/07/2014 * |
641,000,000.00 |
STATE BANK OF INDIA |
SEEPZ BRNACH, ANDHERI (EAST), MUMBAI, MAHARASHTRA |
C15688500 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Computer software
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
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 |
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 |
|
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.