MIRA INFORM REPORT

Report No. :	312175
Report Date :	23.03.2015

IDENTIFICATION DETAILS

Name :	ALUKKAS GEM AND JEWELLERY PRIVATE LIMITED
Registered Office :	Alukkas Building, West Hill, Kuriachira, Thrissur – 680001, Kerala
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.03.2009
Com. Reg. No.:	09-023894
Capital Investment / Paid-up Capital :	Rs. 60.000 Million
CIN No.: [Company Identification No.]	U27205KL2009PTC023894
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
TIN No.:	33571862760
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing , marketing, dealing, importing and exporting of all kinds of Gems and Jewellery made out of Gold, Platinum or other precious metals with or without stones.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company is continuously incurring heavy losses which has resulted into fully erosion of net worth. However, business is active. Payments terms are reported to be slow. The company can be considered for business on a secured 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 – 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	Fund Based Facilities = B+ (Suspended)
Rating Explanation	High risk of default
Date	July 2014

Reason for Suspension : Inability to carry out rating in absence of requisite information from the company.

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 DENIED BY

Name :	Mr. Midhun
Designation :	Finance Department
Contact No.:	91-9656118195
Date :	20.03.2015

LOCATIONS

Registered Office :	Alukkas Building, West Hill, Kuriachira, Thrissur – 680001, Kerala, India
Tel. No.:	Not Available
Mobile No.:	91-9656118195 (Mr. Midhun)
Fax No.:	Not Available
E-Mail :	sreekrishnakumarfcs@gmail.com
Brach Office :	Oppanakkara Street, Coimbatore – 1, India

DIRECTORS

AS ON 27.09.2014

Name :

Meena Anto Alukka

Designation :

Director

Address :

TC/18/2980, Avenue Road, Alukka House, Kuriachira, Thrissur – 680006, Kerala, India

Date of Birth/Age :

22.05.1966

Date of Appointment :

02.03.2009

PAN No.:

00772299

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	U70200KL2006PTC020013	ALUKKAS BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	21/11/2006	21/11/2006	-	Active	NO
2	U70102KL2007PTC021289	WOODRIDGE INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Director	09/10/2007	09/10/2007	30/03/2008	Strike off	NO
3	U36910KL2008PTC021664	ALUKKAS ORNAMENTS PRIVATE LIMITED	Director	09/01/2008	09/01/2008	-	Active	NO
4	U52393TZ2008PTC014251	ALUKKAS GOLD SOUK INDIA PRIVATE LIMITED	Director	25/02/2008	25/02/2008	-	Active	NO
5	U45200KL2008PTC023044	ALUKKAS HOUSING AND INFRASTRUCTURE INDIA PRIVATE LIMITED	Director	26/08/2008	26/08/2008	-	Under Process of Striking off	NO
6	U01110KL2008PTC023043	ALUKKAS FARMS AND PLANTATIONS PRIVATE LIMITED	Director	26/08/2008	26/08/2008	-	Active	NO
7	U27205KL2009PTC023894	ALUKKAS GEM AND JEWELLERY PRIVATE LIMITED	Director	02/03/2009	02/03/2009	-	Active	NO

Name :

Alukka Varghese Anto

Designation :

Managing Director

Address :

Aluka House, Kurichira, Thrissur – 680006, Kerala, India

Date of Birth/Age :

30.08.1959

Date of Appointment :

02.03.2009

PAN No.:

00811741

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	U65992KL1965NPL002119	BHARATHAKSHEMAM	Director	29/09/1995	29/09/1995	-	Active	NO
2	U70200KL2006PTC020013	ALUKKAS BUILDERS AND DEVELOPERS PRIVATE LIMITED	Managing director	21/11/2006	21/11/2006	-	Active	NO
3	U70102KL2007PTC021289	WOODRIDGE INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Managing director	09/10/2007	09/10/2007	-	Strike off	NO
4	U36910KL2008PTC021664	ALUKKAS ORNAMENTS PRIVATE LIMITED	Managing director	09/01/2008	09/01/2008	-	Active	NO
5	U52393TZ2008PTC014251	ALUKKAS GOLD SOUK INDIA PRIVATE LIMITED	Managing director	25/02/2008	25/02/2008	-	Active	NO
6	U45200KL2008PTC023044	ALUKKAS HOUSING AND INFRASTRUCTURE INDIA PRIVATE LIMITED	Managing director	26/08/2008	26/08/2008	-	Under Process of Striking off	NO
7	U01110KL2008PTC023043	ALUKKAS FARMS AND PLANTATIONS PRIVATE LIMITED	Managing director	26/08/2008	26/08/2008	-	Active	NO
8	U27205KL2009PTC023894	ALUKKAS GEM AND JEWELLERY PRIVATE LIMITED	Managing director	02/03/2009	02/03/2009	-	Active	NO
9	U36911KL2009PTC024091	GANDHARVA GEM AND JEWELLERY PRIVATE LIMITED	Managing director	24/04/2009	24/04/2009	-	Strike off	NO
10	U65992KL2007PLC021069	SHAREWEALTH CHITS LIMITED	Director	29/07/2011	29/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Alukka Varghese Anto	59750	99.58
Meena Anto Alukka	250	0.42
Total	60000	100.00

AS ON 27.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing , marketing, dealing, importing and exporting of all kinds of Gems and Jewellery made out of Gold, Platinum or other precious metals with or without stones.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

State Bank of Travankore, Thrissur Main Branch, Paramekkavu Building, Round East, Thrissur – 680001, Kerala, India

Facilities :

--

Auditors :
Name :	Mohandas and Associates Chartered Accountants
Address :	Door No. TC-XXIX/567 Paliyam Road, Thrissur – 1, Kerala, India
PAN No.:	AADFM8074D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 27.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs. 1000/- each	Rs. 60.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs. 1000/- each	Rs. 60.000 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	60.000	60.000	0.500
(b) Reserves & Surplus	(93.193)	(49.608)	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	18.428
Total Shareholders’ Funds (1) + (2)	(33.193)	10.392	18.928
(3) Non-Current Liabilities
(a) long-term borrowings	82.594	84.755	0.540
(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)	82.594	84.755	0.540
(4) Current Liabilities
(a) Short term borrowings	59.356	303.407	0.000
(b) Trade payables	1.726	31.449	0.249
(c) Other current liabilities	1.995	5.488	0.022
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	63.077	340.344	0.271
TOTAL	112.478	435.491	19.739
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.734	22.723	2.736
(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	0.050	0.050	0.000
(c) Deferred tax assets (net)	0.567	0.740	0.000
(d) Long-term Loan and Advances	13.000	13.100	0.000
(e) Other Non-current assets	0.267	0.501	0.000
Total Non-Current Assets	22.618	37.114	2.736
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	66.608	323.531	0.000
(c) Trade receivables	21.185	2.933	0.000
(d) Cash and cash equivalents	1.800	34.821	1.352
(e) Short-term loans and advances	0.000	35.182	15.231
(f) Other current assets	0.267	1.910	0.420
Total Current Assets	89.860	398.377	17.003
TOTAL	112.478	435.491	19.739

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
SALES
	Income	551.680	475.300	NA
	Other Income	0.139	0.222	NA
	TOTAL	551.819	475.522	NA
EXPENSES
	General and administrative Expenses	72.153	84.899	NA
	Preliminary Expenses	0.000	3.897	NA
PROFIT / (LOSS) BEFORE NON CASH EXPENSES AND DEPRECIATION		(50.771)	(47.678)	NA
DEPRECIATION/ AMORTISATION		2.926	2.670	NA
DEFRRED TAX EXPENSES		0.173	0.740	NA
PROFIT/ (LOSS) AFTER TAX		(43.585)	(49.608)	NA
Earnings / (Loss) Per Share (Rs.)		(897.80)	(851.47)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	(7.90)	(10.44)	NA
Debt Equity Ratio (Total Debts/Networth)		(4.28)	37.35	NA
Current Ratio (Current Asset/Current Liability)		1.42	1.17	NA

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.500	60.000	60.000
Reserves & Surplus	0.000	(49.608)	(93.193)
Share Application money pending allotment	18.428	0.000	0.000
Net worth	18.928	10.392	(33.193)
long-term borrowings	0.540	84.755	82.594
Short term borrowings	0.000	303.407	59.356
Total borrowings	0.540	388.162	141.950
Debt/Equity ratio	0.029	37.352	(4.277)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	475.300	551.680
		16.070

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	475.300	551.680
Profit	(51.088)	(53.868)
	(10.75%)	(9.76%)

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	No
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	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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10360434	28/05/2012	300,000,000.00	STATE BANK OF TRAVANCORE	THRISSUR MAIN BRANCH, PARAMEKKAVU BUILDING, ROUND  EAST, THRISSUR, Kerala - 680001, INDIA	B41551920

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loan from banks	2.062	3.373
Deposits from directors	80.532	81.382
SHORT TERM BORROWINGS
Working capital loan from banks	59.356	303.407
Total	141.950	388.162

FIXED ASSETS

• Buildings
• Furniture and Fittings
• Vehicles
• Office Equipments
• Computer

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. 62.49
UK Pound	1	Rs. 92.26
Euro	1	Rs. 66.80

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		15

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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