MIRA INFORM REPORT
|
Report No. : |
328769 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KGK GEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DE-4011-4016, Tower D, 4th Floor, Bharat Diamond Bourse, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-4079 9999 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.05.2007 |
|
|
|
|
Com. Reg. No.: |
11-171061 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2007PTC171061 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK0877H |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is currently engaged in the business of exporting, importing, trading, manufacturing, distributing all kinds of precious and semi-precious stones such as diamonds, pearls, ruby, sapphire, jewelry made up of diamonds, gold etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 incorporated during the year 2007.
It is dealing in the business of manufacturing and exporting of diamonds and all
types of jewellery. It has a satisfactory track. For the financial year ended 2014, the company holds healthy
operational performance and it has decent top line growth along with good
profitability margin. Further rating is constrained on account that it has adequate networth
base along with zero debt balance sheet profile. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. In view of healthy financial risk profile, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Nitesh Jain |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-22-40491414 |
|
Date : |
25.06.2015 |
LOCATIONS
|
Registered Office / Factory : |
DE-4011-4016, Tower D, 4th Floor, Bharat Diamond Bourse, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40799999 / 40491414 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Gaurav Jain |
|
Designation : |
Director |
|
Address : |
A-1203, Blue Mountains, Kailashpuri, Upper Govind, Nagar, Near Shani Temple, Malad (East), Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1979 |
|
Date of Appointment : |
18.12.2013 |
|
DIN No.: |
06765647 |
|
|
|
|
Name : |
Rajkumar Munoyat |
|
Designation : |
Director |
|
Address : |
A-3/701, Siddharth Nagar, Opposite Express Highway, Khatau Mill Road, Borivali (East), Mumbai - 400066, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1971 |
|
Date of Appointment : |
18.12.2013 |
|
DIN No.: |
06765650 |
KEY EXECUTIVES
|
Name : |
Mr. Nitesh Jain |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders (Equity shares) |
|
No. of Shares |
|
KGK Diamonds (India) Private Limited, India |
|
249000 |
|
Navrattan Kothari |
|
1000 |
|
Precious Investment (HK) Limited, Hong Kong |
|
1 |
|
Total |
|
250001 |
|
Names of Shareholders (Preference shares) |
|
No. of Shares |
|
KGK Diamonds (India) Private Limited, India |
|
1000 |
|
Precious Investment (HK) Limited, Hong Kong |
|
597299 |
|
Total |
|
598299 |
AS ON 08.12.2014
|
Names of Shareholders (Preference shares) |
|
No. of Shares |
|
Precious Investment (HK) Limited, Hong Kong |
|
1350540 |
|
Total |
|
1350540 |
AS ON 12.02.2015
|
Names of Shareholders (Preference shares) |
|
No. of Shares |
|
Precious Investment (HK) Limited, Hong Kong |
|
1196340 |
|
Total |
|
1196340 |
AS ON 31.03.2015
|
Names of Shareholders (Preference shares) |
|
No. of Shares |
|
Precious Investment (HK) Limited, Hong Kong |
|
1087950 |
|
Total |
|
1087950 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
0.01 |
|
Bodies corporate |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is currently engaged in the business of exporting, importing, trading, manufacturing, distributing all kinds of precious and semi-precious stones such as diamonds, pearls, ruby, sapphire, jewelry made up of diamonds, gold etc. |
|
|
|
|
Products : |
Diamonds, pearls, ruby, sapphire, jewelry made up of
diamonds, gold etc. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Sudit K. Parekh and Company Chartered Accountants |
|
Address : |
Ballard House, 2nd Floor, Adi Marzban Path, Ballard Pier, Fort, Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAAFS4500P |
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|
|
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Memberships : |
--- |
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Collaborators : |
--- |
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|
Enterprises over
which key management personnel and/or their relatives exercise significant
influence : |
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|
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|
Ultimate Holding
Company / Holding company / Parties where control exists: |
KGK Diamonds (I) Private Limited [U36911MH2009PTC196167] |
|
|
|
|
Parties where
control exists: |
KGK Innovative Private Limited |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Million |
|
5,700,000 |
Preference Shares |
Rs.10/- each |
Rs.57.000 Million |
|
|
Total |
|
Rs.60.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,001 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Million |
|
4,233,129 |
Preference Shares |
Rs.10/- each |
Rs.42.331 Million |
|
|
Total |
|
Rs.44.831
Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
9,50,000 |
Preference Shares |
Rs.10/- each |
Rs.9.500 Million |
|
|
Total |
|
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
24.582 |
3.671 |
3.472 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
59.730 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
84.412 |
3.771 |
3.572 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
40.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.046 |
(0.004) |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.011 |
0.019 |
|
Total Non-current
Liabilities (3) |
0.046 |
40.007 |
0.019 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1837.799 |
2.798 |
172.088 |
|
(c) Other current
liabilities |
2.209 |
0.408 |
1.659 |
|
(d) Short-term provisions |
0.026 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
1840.034 |
3.206 |
173.747 |
|
|
|
|
|
|
TOTAL |
1924.492 |
46.984 |
177.338 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.224 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.006 |
|
(d) Long-term Loan and Advances |
20.663 |
3.465 |
3.430 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
24.887 |
3.465 |
3.436 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
96.189 |
41.649 |
107.261 |
|
(c) Trade receivables |
1794.588 |
0.668 |
64.040 |
|
(d) Cash and cash
equivalents |
8.343 |
1.133 |
2.515 |
|
(e) Short-term loans and
advances |
0.485 |
0.069 |
0.086 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1899.605 |
43.519 |
173.902 |
|
|
|
|
|
|
TOTAL |
1924.492 |
46.984 |
177.338 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
GROSS INCOME |
1834.927 |
85.168 |
247.799 |
|
|
|
|
|
|
|
Less |
EXPENSES |
1803.254 |
84.882 |
245.045 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
31.673 |
0.286 |
2.754 |
|
|
|
|
|
|
|
Less |
TAX |
10.762 |
0.087 |
0.855 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
20.911 |
0.199 |
1.899 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3.671 |
3.472 |
1.573 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
24.582 |
3.671 |
3.472 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1856.022 |
7.949 |
43.571 |
|
|
TOTAL EARNINGS |
1856.022 |
7.949 |
43.571 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(2091.10) |
19.94 |
189.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
(41.168) |
9.568 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.14 |
0.23 |
0.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.73 |
0.34 |
1.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65 |
0.61 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.08 |
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
10.61 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
13.57 |
1.00 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
3.472 |
3.671 |
24.582 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
59.730 |
|
Net worth |
3.572 |
3.771 |
84.412 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
40.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
40.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
10.607 |
0.000 |
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) |
|
Gross Income |
247.799 |
85.168 |
1834.927 |
|
|
|
(65.630) |
2,054.479 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
247.799 |
85.168 |
1834.927 |
|
Profit |
1.899 |
0.199 |
20.911 |
|
|
0.77% |
0.23% |
1.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
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.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
borrowings |
|
|
|
Loans and advances from related parties |
|
|
|
Loans and advances from others |
0.000 |
40.000 |
|
|
|
|
|
Total |
0.000 |
40.000 |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
OPERATIONS
Operating in a volatile and uncertain environment, the Company tuned out a very good performance.
The year under review has been great year for the Company. The profit after tax has increased from Rs. 0.199 Million in the last F.Y. 2012-2013 to Rs. 20.911 Million in the current year on account of increase in turnover.
During the year, the Company focused on capturing foreign market, which can be evident from the increase in Export from Rs. 7.949 Million in the Previous F.Y.2012-2013 to Rs. 1856.022 Million in the F.Y. 2013-2014.
The Directors are working towards increasing the profits and achieve positive results in the favour of the Company.
CHANGE OF PLACE OF
KEEPING THE BOOKS OF ACCOUNTS:
It was decided to keep on maintaining the Books of Accounts at 5th Floor, KGK Tower, Dutta Pada Road, Near Ekta Bhoomi Garden, Borivali (East), Mumbai - 400066 which was earlier Registered Office of the Company and now termed as Accounts and Administrative office consequent upon shifting of Registered office from the above mentioned address to DE-4011-4016, Tower D, 4th Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai - 400051w.e.f. 18th January, 2014.
Further under the provisions of Section 209 of the Companies Act, 1956, the Company has filed necessary documents informing the Registrar of Companies, Mumbai regarding change in place of keeping the books of
Accounts of the Company.
FIXED ASSETS
- Buildings
- Residential building
- Office equipment
- Computer equipment
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.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--PROFITABILITY |
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 |
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 |
|
45 |
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.