MIRA INFORM REPORT

Report No. :	312865
Report Date :	17.03.2015

IDENTIFICATION DETAILS

Name :	OPULENT JEWELS PRIVATE LIMITED
Registered Office :	202-B, Kohli House, D.D. Marg, Mumbai-400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.12.2004
Com. Reg. No.:	11-150115
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U51398MH2004PTC150115
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACO7141D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Exporter and Importer of Diamond.
No. of Employees :	9 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating reflects company moderate financial risk profile marked by low profit margin and huge borrowings recorded by the company. However, trade relation are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Rajkumar Tiwari
Designation :	Finance Head
Contact No.:	91-8898120869
Date :	16.03.2015

LOCATIONS

Registered Office :	202-B, Kohli House, D.D. Marg, Mumbai-400004, Maharashtra, India
Tel. No.:	91-22-23861611
Mobile No.:	91-8898120869 (Mr. Rajkumar) 91-9820062092 (Mr. Anil Kothari)
Fax No.:	Not Available
E-Mail :	bafnajainco@yahoo.com
Branch :	Vitrag Chamber G01 Ground Floor 6/1407 Thoba Sheri Mahidharpura, Surat-600003, Gujarat, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Anil Kothari

Designation :

Director

Address :

703, Sai Roshan Apartments, 4^th Carter Road, Borivali (East), Mumbai-400066, Maharashtra, India

Date of Birth/Age :

15.11.1964

Date of Appointment :

21.12.2004

DIN No.:

00480202

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51398MH2004PTC150115	OPULENT JEWELS PRIVATE LIMITED	Director	21/12/2004	21/12/2004	-	Active	NO
2	U27205MH2006PTC166555	HDK INTERNATIONAL PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Active	NO
3	U27205MH2006PTC166554	S.K. UNIVERSAL PRIVATE LIMITED	Director	29/03/2007	29/03/2007	-	Active	NO
4	U45201MH2006PTC162741	GRACEUNITED DEVELOPERS PRIVATE LIMITED	Director	28/04/2008	28/04/2008	02/01/2012	Active	NO
5	U72200GJ2011PTC066139	ATISHYA TECHNOLOGIES PRIVATE LIMITED	Director	26/12/2012	26/12/2012	-	Active	NO

Name :

Mr. Sunil J Kothari

Designation :

Director

Address :

801, Shorff Tower, Near Sodawala Lane Corner, Chamunda Circle, Borivali (West), Mumbai-400092, Maharashtra, India

Date of Birth/Age :

12.07.1966

Date of Appointment :

21.12.2004

DIN No.:

00480154

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51398MH2004PTC150115	OPULENT JEWELS PRIVATE LIMITED	Director	21/12/2004	21/12/2004	-	Active	NO
2	U27205MH2006PTC166555	HDK INTERNATIONAL PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Active	NO
3	U45400MH2011PTC221137	GOPI HOMENIUM PRIVATE LIMITED	Director	23/08/2011	23/08/2011	-	Active	NO
4	U51101MH2011PTC225513	J. B. TRADING & INVESTMENT CO PRIVATE LIMITED	Director	29/12/2011	29/12/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajkumar Tiwari
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage
Anil Kothari	5000	50.00
Sunil J Kothari	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Importer of Diamond.
Products :	Diamond
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Diamond
Countries :	Dubai Hong Kong Belgium Israel
Imports :
Products :	Raw Material
Countries :	Israel USA Belgium Dubai Hong Kong
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Retailers, End Users and OEM’s

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

9 (Approximately)

Bankers :

Banker Name :	Indusind Bank
Branch Address :	Opera house, Mumbai, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Bafna Jain and Company Chartered Accountants
Address :	703 Gajlaxmi Apartment, Babhai Naka L T Road Borivali-West, Mumbai 400092, Maharashtra, India
PAN No.:	AAAFB1866B
Memberships :	Not Available
Collaborators :	Not Available
Associates :	HDK International Private Limited CIN No.: U27205MH2006PTC166555

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs.0.500 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	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	11.118	8.608	6.601
(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)	11.218	8.708	6.701
(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	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	68.480	125.480	125.480
(b) Trade payables	3149.862	2565.557	2507.690
(c) Other current liabilities	20.821	32.421	35.020
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	3239.163	2723.458	2668.190
TOTAL	3250.381	2732.166	2674.891
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.042	0.053	0.036
(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	12.088	12.088	12.088
(c) Deferred tax assets (net)	0.005	0.005	0.003
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.135	12.146	12.127
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	523.549	594.489	473.820
(c) Trade receivables	2039.616	1676.654	1570.419
(d) Cash and cash equivalents	22.237	7.957	7.523
(e) Short-term loans and advances	541.454	414.988	490.409
(f) Other current assets	111.390	25.932	120.593
Total Current Assets	3238.246	2720.020	2662.764
TOTAL	3250.381	2732.166	2674.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3517.695	2502.652	3241.148
		Other Income	29.909	27.069	18.875
		TOTAL (A)	3547.604	2529.721	3260.023
Less	EXPENSES
		Purchases of Stock-in-Trade	3336.642	2548.391	3333.465
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	70.939	(120.669)	(206.568)
		Employees benefits expense	2.089	1.928	1.764
		Prior Period Items	0.387	0.217	0.098
		Other expenses	133.726	96.842	128.887
		TOTAL (B)	3543.783	2526.709	3257.646
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.821	3.012	2.377
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.821	3.012	2.377
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.012	0.012	0.014
	PROFIT BEFORE TAX (E-F) (G)		3.809	3.000	2.363
Less	TAX (H)		1.299	0.994	0.762
	PROFIT AFTER TAX (G-H) (I)		2.510	2.006	1.601
	Earnings Per Share (Rs.)		251.08	200.62	160.20

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	0.07	0.08	0.05
Operating Profit Margin (PBDIT/Sales)	(%)	0.11	0.12	0.07
Return on Total Assets (PBT/Total Assets}	(%)	0.12	0.11	0.09
Return on Investment (ROI) (PBT/Networth)		0.34	0.34	0.35
Debt Equity Ratio (Total Debt /Networth)		6.10	14.41	18.73
Current Ratio (Current Asset/Current Liability)		1.00	1.00	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	6.601	8.608	11.118
Net worth	6.701	8.708	11.218
long-term borrowings	0.000	0.000	0.000
Short term borrowings	125.480	125.480	68.480
Total borrowings	125.480	125.480	68.480
Debt/Equity ratio	18.726	14.410	6.104

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	3241.148	2502.652	3517.695
		(22.785)	40.559

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	3241.148	2502.652	3517.695
Profit	1.601	2.006	2.510
	0.05%	0.08%	0.07%

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	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

(Rs. In Million)

UNSECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Other loans and advances	68.480	125.480
Total	68.480	125.480

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Office equipment
• Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.62.82
UK Pound	1	Rs.92.82
Euro	1	Rs.66.16

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.