MIRA INFORM REPORT
|
Report No. : |
350400 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARISHI DIAMOND |
|
|
|
|
Registered
Office : |
EC 2081-82, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra |
|
Tel. No.: |
91-22-40045256 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
Establishment : |
2007 |
|
|
|
|
Capital
Investment : |
Rs.1132.016 Million |
|
|
|
|
IEC No.: |
0306082624 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJFP2118B |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Cut and Polished Diamonds. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern established in the year 2007. It is
having satisfactory track. Mr. Sandeep Barot, (Accounts Manager),has provided information of the
subject to us. Rating takes into consideration concern’s decent financial condition
with increase in its revenue profit and fair profit margin recored during the
year 2015. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the concern can be considered for business
dealings with 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Sandeep Barot |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9757298254 |
|
Date : |
21.11.2015 |
LOCATIONS
|
Registered Office : |
EC 2081-82, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Tel. No.: |
91-22-40045256 |
|
Mobile No.: |
91-9757298254 (Mr. Sandeep Barot) |
|
Fax No.: |
91-22-43436262 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1200 Sq. Ft. |
|
Location : |
Leased |
|
|
|
|
Factory 1 : |
202, 2nd Floor, Gangotri Tower , Kesarba Market, Gotalawadi, Katargam, Surat - 395004, Gujarat, India |
|
Tel. No.: |
91-261-2532443 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
SP – 91, SUB, Plot 2, EPS 3, Near Venus Jewel, Vasta Devdi Road, Surat,
Gujarat, India |
PARTNERS
|
Name : |
Mr. Nikhil Champaklal Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Jigar Kanubhai Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Adarsh Kanubhai Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Samir Kanubhai Shah |
|
Designation : |
Partner |
|
Address : |
7/C, Kunthunath Apartment, Near Sshopping Centre, Umra Jakat Naka,
Surat, Gujarat, India |
|
PAN No.: |
AATHS0729P |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Barot |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Cut and Polished Diamonds. |
|
|
|
|
Products : |
Cut and polished diamonds |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Polished Diamonds |
|
Countries : |
· Hongkong · Israel · Dubai · USA · European Countries · Japan · UAE · South East Asia |
|
|
|
|
Imports : |
|
|
Products : |
Rough Diamond |
|
Countries : |
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L\C and Credit (30/ 60/ 90 Days) |
|
|
|
|
Purchasing : |
Cash, L\C and Credit (30/ 60/ 90 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||||||||||||||||||||||||
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No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda Opera House, Mumbai,
Maharashtra, India · Ratnakar Bank Limited Fort, Mumbai, Maharashtra,
India · Indusind Bank Limited Surat Branch, Gujarat, India · Bank of Baroda Surat Branch, Gujarat, India · Corporation Bank Main Branch, Surat, Gujarat, India |
||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Viral Shah and Company Chartered Accountants |
|
Address : |
203, Laxmi Villa, Opposite Kala Hanuman Temple, M. G. Road, Kandivali
(West), Mumbai – 400067, Maharashtra, India |
|
Tel No.: |
91-22-28618386/ 28618398 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on: 31.03.2015
|
Capital Investment : |
|
|
Owned : |
Rs.1132.016 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.1132.016 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
Expected Sales (2015-2016): Rs. 5500.000 Million
The above information has been parted by Mr. Sandeep Barot (Account
Manager).
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
OWNERS FUNDS |
|
|
|
|
|
1] Partners Capital Account |
1132.016 |
886.459 |
760.056 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1132.016 |
886.459 |
760.056 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
662.548 |
112.432 |
54.390 |
|
|
2] Unsecured Loans |
32.780 |
13.734 |
13.694 |
|
|
TOTAL BORROWING |
695.328 |
126.166 |
68.084 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1827.344 |
1012.625 |
828.140 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
84.925 |
75.941 |
79.975 |
|
|
Capital work-in-progress |
86.045 |
28.371 |
8.538 |
|
|
|
|
|
|
|
|
INVESTMENT |
88.411 |
8.574 |
5.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1665.961
|
0.000
|
0.000 |
|
|
Sundry Debtors |
743.186
|
819.519
|
465.377 |
|
|
Cash & Bank Balances |
72.599
|
35.011
|
49.350 |
|
|
Other Current Assets |
0.000
|
1631.514
|
1416.141 |
|
|
Loans & Advances |
11.884
|
8.076
|
5.869 |
|
Total
Current Assets |
2493.630
|
2494.120
|
1936.737 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
925.667
|
1586.769
|
1192.953 |
|
|
Other Current Liabilities |
0.000
|
7.612
|
9.157 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
925.667
|
1594.381
|
1202.110 |
|
|
Net Current Assets |
1567.963
|
899.739
|
734.627 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1827.344 |
1012.625 |
828.140 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
sales |
4840.447 |
4384.413 |
3983.078 |
|
|
|
Other Income |
24.675 |
4.198 |
(7.643) |
|
|
|
TOTAL |
4865.122 |
4388.611 |
3975.435 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
4526.267 |
4140.400 |
3746.593 |
|
|
|
Factory Expenses |
51.756 |
49.194 |
43.440 |
|
|
|
Agency Charges |
0.442 |
0.421 |
0.450 |
|
|
|
Annual Maintenance Charges |
0.125 |
0.080 |
0.000 |
|
|
|
Angadia Charges |
0.060 |
0.076 |
0.013 |
|
|
|
Audit Fees |
0.101 |
0.056 |
0.056 |
|
|
|
Bank Commission and Other Charges |
8.606 |
9.250 |
4.106 |
|
|
|
Bank Loan Interest |
18.663 |
3.786 |
2.646 |
|
|
|
Loan Processing |
5.968 |
0.000 |
0.000 |
|
|
|
Bad Debts |
0.000 |
1.419 |
0.622 |
|
|
|
Computer General Expenses |
0.151 |
0.273 |
0.144 |
|
|
|
Consultancy Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
Conveyance Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
Credit Rating Agencies Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
Courier And Freight Charges |
4.132 |
4.985 |
0.010 |
|
|
|
Custom Duty On Reimports |
0.000 |
0.634 |
0.000 |
|
|
|
Diamond Grading Charges |
110.648 |
43.176 |
76.296 |
|
|
|
Donation |
0.032 |
0.000 |
0.000 |
|
|
|
Electricity Charges
|
0.000 |
0.138 |
0.320 |
|
|
|
Exhibition Expenses |
1.714 |
0.407 |
0.476 |
|
|
|
Export Commission Paid |
1.997 |
4.584 |
11.404 |
|
|
|
EPCD License Fees |
0.019 |
0.000 |
0.000 |
|
|
|
Diamond Handling |
0.337 |
0.025 |
0.000 |
|
|
|
Insurance Charges |
1.008 |
0.930 |
0.000 |
|
|
|
Interest Paid |
1.368 |
0.459 |
0.361 |
|
|
|
Internet Expense |
0.359 |
0.273 |
0.024 |
|
|
|
License Fees |
0.000 |
0.000 |
0.000 |
|
|
|
Loan Processing Fees |
0.000 |
0.000 |
0.000 |
|
|
|
Locker Rent |
0.000 |
0.000 |
0.000 |
|
|
|
Maintenance Expenses |
0.052 |
0.052 |
0.059 |
|
|
|
Membership Fees |
0.248 |
0.185 |
0.204 |
|
|
|
Miscellaneous Expenses |
0.081 |
0.079 |
0.023 |
|
|
|
Municipal Tax |
0.124 |
0.084 |
0.058 |
|
|
|
Office Maintenance |
0.000 |
0.234 |
0.159 |
|
|
|
Office Rent |
2.791 |
2.586 |
0.000 |
|
|
|
Octroi Charges |
0.011 |
0.000 |
0.000 |
|
|
|
Safe Rent |
0.000 |
0.030 |
0.024 |
|
|
|
Printing And Stationary |
0.436 |
0.504 |
0.378 |
|
|
|
Legal And Professional Fees |
0.680 |
0.475 |
0.463 |
|
|
|
Professional Fees |
0.000 |
0.067 |
0.067 |
|
|
|
Professional Tax |
0.036 |
0.039 |
0.002 |
|
|
|
Repair And Service Charges |
0.068 |
0.098 |
0.147 |
|
|
|
Salary Paid |
3.250 |
3.050 |
1.951 |
|
|
|
Service Tax |
0.904 |
2.077 |
0.000 |
|
|
|
Show and Other Charges |
0.038 |
0.510 |
0.008 |
|
|
|
Software Development Charges |
0.152 |
0.000 |
0.000 |
|
|
|
Sales Promotion Expenses |
0.004 |
0.091 |
0.000 |
|
|
|
Security Expenses |
0.771 |
0.804 |
0.553 |
|
|
|
Sales Tax Expenses |
0.000 |
0.078 |
0.000 |
|
|
|
Staff Welfare Expenses |
0.634 |
0.607 |
0.000 |
|
|
|
Stationary and Printing |
0.000 |
0.000 |
0.000 |
|
|
|
Telephone Expenses |
0.383 |
0.440 |
0.358 |
|
|
|
Foreign Travelling Expenses |
2.089 |
1.964 |
0.000 |
|
|
|
Travelling Expenses |
0.017 |
0.047 |
3.387 |
|
|
|
VAT Audit fees |
0.068 |
0.056 |
0.055 |
|
|
|
Remuneration to Partner |
3.600 |
3.600 |
3.000 |
|
|
|
Interest on Partner Capital |
10.146 |
7.359 |
0.000 |
|
|
|
TOTAL |
4760.336 |
4285.682 |
3897.857 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE, DEPRECIATION AND AMORTISATION |
104.786 |
102.929 |
77.578 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.067 |
1.307 |
1.169 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
103.719 |
101.622 |
76.409 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash from / (used in) operating activities |
(488.993) |
(55.656) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.14 |
2.32 |
1.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.89 |
3.94 |
3.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.11 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.61 |
0.14 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.69 |
1.56 |
1.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Partners Capital |
760.056 |
886.459 |
1132.016 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
760.056 |
886.459 |
1132.016 |
|
|
|
|
|
|
Secured Loans |
54.390 |
112.432 |
662.548 |
|
Unsecured Loans |
13.694 |
13.734 |
32.780 |
|
Total
borrowings |
68.084 |
126.166 |
695.328 |
|
Debt/Equity
ratio |
0.090 |
0.142 |
0.614 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3983.078 |
4384.413 |
4840.447 |
|
|
|
10.076 |
10.401 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3983.078 |
4384.413 |
4840.447 |
|
Profit |
76.409 |
101.622 |
103.719 |
|
|
1.92% |
2.32% |
2.14% |
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 |
Yes |
|
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
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 LOANS
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LOANS |
|
|
|
Bhanumati Suresh Shah |
2.042 |
1.900 |
|
Manish S Shah |
1.327 |
0.700 |
|
Nikit S Shah |
0.715 |
0.700 |
|
Nikhil C. Shah (HUF) |
2.740 |
0.000 |
|
Samir K Shah |
2.729 |
2.740 |
|
Suresh M Shah |
2.552 |
2.729 |
|
Dheeraj Babulal Shah |
8.500 |
0.000 |
|
Dilip J Shah (HUF) |
0.300 |
0.000 |
|
Five X Finance Investment |
0.300 |
0.000 |
|
Jayyantilal P Shah |
0.550 |
0.000 |
|
Kayaguru Capital Market Private Limited |
5.000 |
0.000 |
|
Moryo Industries Limited |
4.100 |
0.000 |
|
Rockon Capital Market Private Limited |
0.600 |
0.000 |
|
Samirkumar J shah |
1.325 |
0.000 |
|
Kamlesh V Shah |
0.000 |
2.500 |
|
|
|
2.465 |
|
Total |
32.780 |
13.734 |
FIXED ASSETS
- Land
- Diamond Tools
- Air Condition
- Computer
- Machinery
Furniture
- Camera System
- Electrical
Equipment
- Fire
Extinguisher
- Automatic
Dual Shaping Machine
- Micro Scope
- Ghanti
- Color Meter
Panel Scale
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 records 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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
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 |
|
49 |
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.