MIRA INFORM REPORT
|
Report No. : |
346762 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HARI KRISHNA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 1701, “The Capital”, 17th Floor, B wing, Plot No. C-70,
Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-49173886 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.02.2012 |
|
|
|
|
Com. Reg. No.: |
11-227014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1207.550 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2012PTC227014 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH13959B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH8430N |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Diamonds. |
|
|
|
|
No. of Employees
: |
6000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was originally established in 1992 as a partnership firm with the
name of M/s. Hari Krishna Exports and later it got converted into private
limited company during 2012. It is a well-established company having fine
track record. The company has reported decent sales turnover growth over previous
and it has achieved 3.04% profitability margins during 2014. Rating also takes into consideration vast experience of the promoters
in the diamond business backed by company’s established track record of operations,
diversified clientele base across geographies and sound financial base of the
company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of long standing business operations backed by resourceful
promoters, the company can be considered good for normal 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
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities (Fund-based) = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
July 15, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities (Non-fund based) = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
July 15, 2015 |
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. Venkat Iyengar |
|
Designation : |
Chief Finance Office |
|
Contact No.: |
91-22-49173886 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered / Head Office : |
Unit No. 1701,”The Capital,” Floor, B-Wing, Plot No-70, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-49173886 / 43004300 / 2367 8111 / 12 / 13 |
|
Fax No.: |
91-22-23643266 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Factory/ Branch Office: |
9, Hari Krishana Campus, Near Viraj Chowk, Behind Sarthana Jakat Naka,
Varaccha Road, Simada Gam, Surat – 395006, Gujarat, India |
|
Tel. No.: |
91-261-6544251 / 6544252 |
|
Fax No.: |
91-261-2535027 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located At :
|
DIRECTORS
As On 26.05.2014
|
Name : |
Mr. Ghanshyambhai Dhanjibhai Dholakia |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 62-6, Mont Blanc Bld, Dadyseth Hill, 572, Augustkranti Marg,
Mumbai – 400036, Maharashtra India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No. : |
01474986 |
|
|
|
|
Name : |
Mr. Savjibhai Dhanjibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam
Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
12.04.1962 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
AAPPD6921Q |
|
DIN No. : |
02069387 |
|
|
|
|
Name : |
Mr. Hasmukh Thakersibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
201, 2nd Floor, Yash Co-Operative Society, August Kranti Marg,
Gowalia Tank, Mumbai - 400026 Maharashtra, India |
|
Date of Birth/Age : |
01.03.1974 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ADHPD1192Q |
|
DIN No. : |
01474973 |
|
|
|
|
Name : |
Mr. Tulsibhai Dhanjibhai Dholakia |
|
Designation : |
Whole-time Director |
|
Address : |
7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam
Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
15.04.1964 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
AAPPD6923N |
|
DIN No. : |
03268245 |
|
|
|
|
Name : |
Kuravas Balakrishnan Rajgopalan |
|
Designation : |
Director |
|
Date of Appointment : |
14.01.2014 |
|
DIN No. : |
06416811 |
KEY EXECUTIVES
|
Name : |
Mr. Venkat Iyengar |
|
Designation : |
Chief Finance Office |
|
Address : |
Flat No.201, Sharda CHS., Natwar Nagar No.3, Jogeshwari (East), Mumbai - 400060, Maharashtra, India |
|
Date of Appointment : |
18.06.2014 |
|
PAN No.: |
AAAPI2002E |
|
|
|
|
Name : |
Sheetal Nagesh Karkera |
|
Designation : |
Secretary |
|
Address : |
Mayur-1, 12, Kalash Udyan, Koperkhairne, Sector -11, Navi Mumbai -
400709, Maharashtra, India |
|
Date of Appointment : |
01.01.2014 |
|
PAN No.: |
BYPPK5348P |
MAJOR SHAREHOLDERS
As on 26.05.2014
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Savjibhai Dhanjibhai Dholakia |
2791800 |
|
Ghanshyambhai Dhanjibhai Dholakia |
2378200 |
|
Himmatbhai D. Dholakia |
1964600 |
|
Tulsibhai Dhanjibhai Dholakia |
2378200 |
|
Hasmukh Thakersibhai Dholakia |
206800 |
|
Naresh Lunagaria |
310200 |
|
Bharatbhai Patel |
310200 |
|
Total |
10340000 |
|
Names of Shareholders (Redeemable Preferences Shares) |
0% |
12% |
6% |
|
|
|
|
|
|
Ghanshyambhai Dhanjibhai Dholakia |
17122063 |
2800000 |
12000000 |
|
Savjibhai Dhanjibhai Dholakia |
14585461 |
1700000 |
14000000 |
|
Hasmukh Thakersibhai Dholakia |
12048859 |
500000 |
5000000 |
|
Himmatbhai D. Dholakia |
14585461 |
-- |
11000000 |
|
Tulsibhai Dhanjibhai Dholakia |
1268301 |
-- |
-- |
|
Naresh Lunagaria |
1902451 |
-- |
-- |
|
Bharatbhai Patel |
1902451 |
-- |
-- |
|
|
|
|
|
|
Total |
63415047 |
5000000 |
42000000 |
As on 26.05.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
94.00 |
|
Other |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamonds. |
|
|
|
|
Products : |
Diamonds |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds |
|
Countries : |
|
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit (30/60 Days) |
|
|
|
|
Purchasing : |
Cheque and Credit (30/60 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
Customers : |
|
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|
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|
No. of Employees : |
6000 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
SREI Equipment Finance Limited, Vishwakarma, 86C, Topsia Road, Kolkata
– 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Nisim and Company Chartered Accountants |
|
Address : |
Barowdla
Mansion, B wing 3rd Floor, 81, Dr. Annie Besant Road, Mumbai,
Maharashtra, India |
|
PAN
No. : |
AAAAA1111A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Million |
|
144000000 |
Preference Shares |
Rs.10/- each |
Rs.1440.000 Million |
|
|
Total |
|
Rs.1560.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10340000 |
Equity Shares |
Rs.10/- each |
Rs.103.400 Million |
|
110415047 |
Preference Shares |
Rs.10/- each |
Rs.1104.150 Million |
|
|
Total |
|
Rs.1207.550
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 |
1207.550 |
1133.550 |
149.400 |
|
(b) Reserves & Surplus |
3694.175 |
2320.974 |
1690.451 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
70.000 |
634.150 |
|
Total
Shareholders’ Funds (1) + (2) |
4901.725 |
3524.524 |
2474.001 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
493.642 |
455.919 |
345.466 |
|
(b) Deferred tax liabilities (Net) |
53.065 |
37.656 |
25.777 |
|
(c) Other long term
liabilities |
2.078 |
2.078 |
2.078 |
|
(d) long-term
provisions |
28.999 |
22.105 |
16.010 |
|
Total Non-current
Liabilities (3) |
577.784 |
517.758 |
389.331 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6827.768 |
4706.817 |
3292.863 |
|
(b) Trade
payables |
4084.455 |
2741.692 |
3584.126 |
|
(c) Other
current liabilities |
612.520 |
307.683 |
280.135 |
|
(d) Short-term
provisions |
121.171 |
35.923 |
9.218 |
|
Total Current
Liabilities (4) |
11645.914 |
7792.115 |
7166.342 |
|
|
|
|
|
|
TOTAL |
17125.423 |
11834.397 |
10029.674 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2311.853 |
1836.030 |
1095.993 |
|
(ii)
Intangible Assets |
64.418 |
95.860 |
115.545 |
|
(iii)
Capital work-in-progress |
16.436 |
0.000 |
2.440 |
|
(iv)
Intangible assets under development |
5.618 |
3.700 |
0.000 |
|
(b) Non-current Investments |
34.725 |
34.725 |
9.725 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
165.666 |
113.324 |
173.790 |
|
(e) Other
Non-current assets |
49.877 |
70.219 |
64.934 |
|
Total Non-Current
Assets |
2648.593 |
2153.858 |
1462.427 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9371.853 |
6062.023 |
5725.791 |
|
(c) Trade
receivables |
4788.265 |
3386.771 |
2748.838 |
|
(d) Cash
and cash equivalents |
90.142 |
90.470 |
35.402 |
|
(e)
Short-term loans and advances |
193.907 |
107.834 |
30.061 |
|
(f) Other
current assets |
32.663 |
33.441 |
27.155 |
|
Total
Current Assets |
14476.830 |
9680.539 |
8567.247 |
|
|
|
|
|
|
TOTAL |
17125.423 |
11834.397 |
10029.674 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
43096.764 |
21145.244 |
NA |
|
|
Other Income |
52.709 |
126.167 |
NA |
|
|
TOTAL |
43149.473 |
21271.411 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
40560.529 |
19874.991 |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2588.944 |
1396.420 |
123.777 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
387.569 |
314.265 |
30.164 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2201.375 |
1082.155 |
93.613 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
214.130 |
134.109 |
10.427 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1987.245 |
948.046 |
83.186 |
|
|
|
|
|
|
|
Less |
TAX |
676.409 |
309.676 |
44.277 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1310.836 |
638.370 |
38.909 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.85 |
5.78 |
0.35 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
53190.000 |
Expected Sales (2015-16): Rs.60000.000 Million
The above information has been parted by Mr. Venkat Iyengar (Chief
Financial Officer).
MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
120.462 |
75.411 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1987.245 |
948.045 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
3.04
|
3.01 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.01
|
6.60 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.64 |
8.04 |
0.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.27 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49 |
1.46 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.24 |
1.20 |
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 |
149.400 |
1133.550 |
1207.550 |
|
Reserves & Surplus |
1690.451 |
2320.974 |
3694.175 |
|
Share
Application money pending allotment |
634.150 |
70.000 |
0.000 |
|
Net worth |
2474.001 |
3524.524 |
4901.725 |
|
|
|
|
|
|
long-term borrowings |
345.466 |
455.919 |
493.642 |
|
Short term borrowings |
3292.863 |
4706.817 |
6827.768 |
|
Total borrowings |
3638.329 |
5162.736 |
7321.410 |
|
Debt/Equity ratio |
1.471 |
1.465 |
1.494 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
21145.244 |
43096.764 |
|
|
103.813 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
21145.244 |
43096.764 |
|
Profit |
638.370 |
1310.836 |
|
|
3.02% |
3.04% |
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) |
Yes |
|
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 |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 & 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.
NOTE:
The registered address of the company has been shifted from 315, Prasad
Chambers, Opera House Mumbai – 400004, Maharashtra, India to the present
address w.e.f 11.02.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
96.035 |
169.684 |
|
Loans and advances from others |
86.551 |
5.879 |
|
Total |
182.586 |
175.563 |
FINANCIAL RESULTS
The performance of the company during the year has been outstanding. In 2013-2014, the Company’s sales grew by 103.81 % to Rs.43096.800 Million compared with Rs. 21145.200 Million in the previous year. Profit before tax grew by 109.62 % from Rs.948.000 Million to Rs. 1987.200 Million and the net profit grew by 105.34 % to 1310.800 Million.
AWARDS AND RECOGNITION
The Company’s initiatives and performance were recognized across various platforms. The Company is the proud winner of the prestigious GJEPC Awards for consecutive 11 years out of which for 10 years it received Excellence in Export Award and the last year it won The Most Innovative Company Award.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10524458 |
13/10/2014 |
250,000,000.00 |
STATE BANK OF HYDERABAD |
1204, ASHOK MAHAL,
TULLOCH ROAD, COLABA,
MUMBAI, Maharashtra - 400039, INDIA |
C27082494 |
|
2 |
10523438 |
30/09/2014 |
100,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LTD |
GROUND FLOOR, MADHAVA
COMMERCIAL PREMISES CO.OP. SOC.LIMITED, PLOT NO. C-4, E BLOCK, BKC,BANDRA
(E), MUMBAI, Maharashtra - 400051, INDIA |
C24929911 |
|
3 |
10525117 |
18/09/2014 |
200,000,000.00 |
STATE BANK OF BIKANER AND
JAIPUR |
COMMERCIAL NETWORK
BRANCH, 239P.D'MELLO ROAD, OPP. G.P.O., FORT, MUMBAI, Maharashtra - 400001,
INDIA |
C28878791 |
|
4 |
10518412 |
27/08/2014 |
357,000,000.00 |
UNION BANK OF INDIA |
Overseas Branch, Union Bank
Bhavan, Ground Floor, 239,Vidhan Bhavan Marg, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
C19486505 |
|
5 |
10518014 |
08/08/2014 |
1,080,000,000.00 |
State Bank of India |
Diamond Branch, Bharat
Diamond Bourse, D-3 core, G, Block, Bandra Kurla Complex, Bandra (E),
MUMBAI, Maharashtra - 400051, INDIA |
C19179415 |
|
6 |
10511650 |
03/07/2014 |
332,800,000.00 |
State Bank Of India |
Diamond Branch, D/3 West Core,
Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai,
Maharashtra - 400051, INDIA |
C14083380 |
|
7 |
10486790 |
03/03/2014 |
4,500,000.00 |
SREI EQUIPMENT FINANCE
LIMITED |
'VISHWAKARMA', 86C, TOPSIA
ROAD,, KOLKATA, West Bengal - 700046, INDIA |
C01126077 |
|
8 |
10450962 |
28/03/2014 * |
150,000,000.00 |
State Bank of India |
Diamond Branch, D/3 West
Core, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra
- 400051, INDIA |
C06654909 |
|
9 |
10392546 |
12/11/2012 |
1,919,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006,
INDIA |
B64352263 |
|
10 |
10375522 |
20/07/2012 |
400,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B57694846 |
|
11 |
10353182 |
28/04/2014 * |
8,295,800,000.00 |
State Bank of India |
State Bank of India, Diamond
Branch, D-3,West core, Bharat Diamond Bours, MUMBAI, Maharashtra - 400051,
INDIA |
C03364148 |
|
12 |
10354282 |
28/04/2014 * |
8,295,800,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA,
DIAMOND BRANCH, BHARAT DIAMO |
C03364767 |
* Date of charge modification
FIXED ASSETS
- land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- 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 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. 64.88 |
|
|
1 |
Rs. 99.88 |
|
Euro |
1 |
Rs. 72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.