MIRA INFORM REPORT
|
Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLATINUM GUILD INDIA PRIVATE LIMITED (TRF.) |
|
|
|
|
Registered
Office : |
Notan Classic, 3rd Floor, |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.09.2000 |
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|
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Com. Reg. No.: |
11-158770 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U27205MH2000PTC158770 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP11750E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP1672Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of creating awareness of the
platinum metal and promoting the same. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘Platinum Guild International SA’. It is an established company having a good track record. There seems some dip in the turnover and profit of the company during
FY 2014. However, reserves position of the company is good. General financial
position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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 DECLINED BY
|
Name : |
Ms. Chhaya |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-26400322 |
|
Date : |
27.12.2014 |
LOCATIONS
|
Registered Office : |
Notan Classic, 3rd Floor, |
|
Tel. No.: |
91-22-26400322/ 23/ 25 |
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Fax No.: |
91-22-26400333 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
DIRECTORS
AS ON
|
Name : |
Mrs. Madhavi Nirav Shah |
|
Designation : |
Director |
|
Address : |
9A, ILL, Pallazo Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
30.01.1974 |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
00341064 |
|
|
|
|
Name : |
Mrs. Vaishali Sailesh Banerjee |
|
Designation : |
Director |
|
Address : |
901, Manish Sea Croft, CHS Limited, |
|
Date of Birth/Age : |
03.12.1965 |
|
Qualification : |
Masters in Economics and Specialization in Advertising and Marketing |
|
Experience : |
13 Years |
|
Date of Appointment : |
11.09.2000 |
|
DIN No.: |
00759284 |
|
|
|
|
Name : |
Mr. James Christopher Courage |
|
Designation : |
Director |
|
Address : |
13, |
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Date of Birth/Age : |
20.08.1948 |
|
Date of Appointment : |
11.09.2000 |
|
DIN No.: |
01882928 |
KEY EXECUTIVES
|
Name : |
Ms. Chhaya |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.08.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
M/S. Rustenburng Platinum Mines Limited, South Africa |
5 |
0.05 |
|
M/S. PGI SA, Switzerland |
10000 |
99.95 |
|
Total |
10005 |
100.00 |
%20-%20301197_MIRA%2002-Jan-2015_files/image015.gif)
AS ON 18.08.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of creating awareness of the
platinum metal and promoting the same. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Mumbai –
400018, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Holding Company : |
Platinum Guild International, SA |
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Ultimate
Holding Company : |
Anglo Platinum |
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Parent
of Holding Company : |
Rustenberg Platinum Mines |
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|
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Fellow Subsidiary : |
Ř Platinum Guild
International, UK Ř Platinum Guild International,
KK |
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|
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Other Related Parties : |
Platinum Jewellery Development Association |
CAPITAL STRUCTURE
AS ON 18.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,005 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
Million |
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|
|
|
|
Notes:
Details of share holding pattern and shareholders holding more than 5%
shares:
Platinum Guild International SA, the holding
company 10000 shares (99.99%) (31st March 2013: 10000 Shares
(99.99%))
Rights and restriction attached to equity shareholders:
The company has only one class of equity
shares having face value as Rs. 10/- each. Every holder of equity shares is
entitled to one vote per share. The dividend proposed by the Board of
Directors, if any, is subject to approval of the shareholders in ensuing Annual
general meeting, except in the case of interim dividend. In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive any of the remaining assets of the company in proportion to their
shareholding.
the company, in accordance with the Buyback
Scheme, approved by the shareholders, brought back and extinguished 1,245 and
3,750 equity shares of Rs.10/- each during year ended 31 March 2009 and 2008
respectively.
FINANCIAL DATA
[all figures are in
Rupees Millions]
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
107.176 |
90.174 |
66.230 |
|
(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) |
107.276 |
90.274 |
66.330 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.206 |
0.544 |
0.325 |
|
(d) long-term provisions |
1.101 |
4.054 |
3.433 |
|
Total Non-current
Liabilities (3) |
1.307 |
4.598 |
3.758 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
78.881 |
72.242 |
105.216 |
|
(c) Other current
liabilities |
5.501 |
3.249 |
109.728 |
|
(d) Short-term provisions |
4.430 |
1.138 |
0.178 |
|
Total Current Liabilities
(4) |
88.812 |
76.629 |
215.122 |
|
|
|
|
|
|
TOTAL |
197.395 |
171.501 |
285.210 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.992 |
1.152 |
1.224 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.691 |
1.624 |
0.824 |
|
(d) Long-term Loan and Advances |
13.086 |
13.375 |
13.454 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
14.769 |
16.151 |
15.502 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
91.599 |
47.866 |
1.987 |
|
(d) Cash and cash
equivalents |
82.355 |
73.646 |
263.853 |
|
(e) Short-term loans
and advances |
1.409 |
20.960 |
3.017 |
|
(f) Other current
assets |
7.263 |
12.878 |
0.851 |
|
Total Current Assets |
182.626 |
155.350 |
269.708 |
|
|
|
|
|
|
TOTAL |
197.395 |
171.501 |
285.210 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income/Revenue from operations |
89.834 |
98.973 |
67.050 |
|
|
|
Other Income |
0.000 |
0.000 |
12.299 |
|
|
|
TOTAL (A) |
89.834 |
98.973 |
79.349 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
|
|
21.234 |
|
|
|
Other Expenses |
|
|
40.241 |
|
|
|
TOTAL (B) |
62.280 |
62.880 |
61.475 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.554 |
36.093 |
17.874 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST ON DELAYED PAYMENT OF TAXES (D) |
0.679 |
0.220 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.875 |
35.873 |
17.874 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.283 |
0.308 |
0.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.592 |
35.565 |
17.648 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.591 |
11.621 |
5.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.001 |
23.944 |
11.911 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
80.914 |
56.970 |
45.059 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
97.915 |
80.914 |
56.970 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement towards promotional and operational expenses |
Nil |
Nil |
0.125 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1699.25 |
23824.88 |
1190.50 |
|
%20-%20301197_MIRA%2002-Jan-2015_files/image003.gif){kind=small}
%20-%20301197_MIRA%2002-Jan-2015_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
18.92 |
24.19 |
17.76 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
30.67 |
36.47 |
26.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.52 |
20.94 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.39 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06 |
2.03 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
66.230 |
90.174 |
107.176 |
|
Net
worth |
66.330 |
90.274 |
107.276 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20-%20301197_MIRA%2002-Jan-2015_files/image017.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
79.349 |
98.973 |
89.834 |
|
|
|
24.731 |
(9.234) |
%20-%20301197_MIRA%2002-Jan-2015_files/image019.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
79.349 |
98.973 |
89.834 |
|
Profit |
11.911 |
23.944 |
17.001 |
|
|
17.76% |
24.19% |
18.92% |
%20-%20301197_MIRA%2002-Jan-2015_files/image021.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT 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
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Note: The registered office has been shifted from Suite No. 704, 7th
Floor, Housefin Bhavan, C-21, Bandra Kurla Complex, Mumbai – 400051,
Maharashtra, India to present address w.e.f 27.09.2011.
CORPORATE
INFORMATION:
The company is primarily engaged in the business of creating awareness
of the platinum metal and promoting the same in India amongst different groups
varying from those on the supply side i.e. manufacturers of jewelry, retailers/
sales persons to those on the demand side i.e. the consumer/ retail users.
In addition to above company also conducts a certification program for
platinum jewelry manufacturers for the purity of platinum in the jewelry
manufactured in India.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Ř
Computers
Ř
Office Equipments
Ř Furniture and
Fixtures
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. 63.32 |
|
|
1 |
Rs. 98.63 |
|
Euro |
1 |
Rs. 76.59 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.