MIRA INFORM REPORT
|
Report No. : |
339213 |
|
Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
M SURESH COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
419, Parekh Market, Opera House, Mumbai-400004 |
|
Tel. No.: |
91-22-23639001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.12.2004 |
|
|
|
|
Com. Reg. No.: |
11-149806 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 133.420 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2004PTC149806 |
|
|
|
|
IEC No.: |
0388055413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10331G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM0931D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Diamonds. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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|
Comments : |
Subject is a part of “M SURESH GROUP. It is a well-established company
having a satisfactory track record. Management has failed to file latest financials of Financial Year 2014
with the Government authorities. As per available, overall financial position of the company seems to
be decent. Trade relations are reported to be fair. Business is active. Payments
are reported as slow but correct. The company can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk |
|
Date |
13.03.2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating =A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk |
|
Date |
13.03.2015 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Sarvaiya |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-23639001 |
|
Date : |
28.08.2015 |
LOCATIONS
|
Registered Office : |
419, Parekh Market, Opera House, Mumbai-400004, Maharashtra, India |
|
Tel. No.: |
91-22-23639001/ 6244/ 2380/ 411 |
|
Fax No.: |
91-22-23696492/ 0176/ 23875107 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
|
|
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Corporate Office : |
BW- 6010, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra East,
Mumbai – 400051, |
|
Tel. No.: |
91-22-26756010 to 18 |
|
Fax No.: |
91-22-23696492/ 0176 |
|
E-Mail : |
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|
|
|
Factory / Branch Office : |
Located At: · Surat, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manish Rameshchandra Pethani |
|
Designation : |
Director |
|
Address : |
Room No - 2701 27th Floor, The Legend APT.AWING,, 220, NR Walkeshwar
Road, Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1966 |
|
Date of Appointment : |
02.12.2005 |
|
PAN No.: |
AACPP0189M |
|
DIN No.: |
00014011 |
|
|
|
|
Name : |
Mr. Paresh Rameshchandra Pethani |
|
Designation : |
Director |
|
Address : |
Room No -3201, 32nd Floor, The Legend Apartment., A-Wing,, 220,
Walkeshwar Road ,Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1959 |
|
Date of Appointment : |
02.12.2005 |
|
PAN No.: |
AACPP0188L |
|
DIN No.: |
00014079 |
|
|
|
|
Name : |
Mr. Lalit Chunilal Adani |
|
Designation : |
Director |
|
Address : |
3-B, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai-400036,
Maharashtra, India |
|
Date of Birth/Age : |
24.02.1958 |
|
Date of Appointment : |
02.12.2005 |
|
PAN No.: |
AAZPA8081C |
|
DIN No.: |
00014169 |
|
|
|
|
Name : |
Mr. Nitinbhai Chunilal Adani |
|
Designation : |
Director |
|
Address : |
804, Dharam Palace, Near Parle Point, Surat-395001, Gujarat, India |
|
Date of Birth/Age : |
23.10.1961 |
|
Date of Appointment : |
02.12.2005 |
|
PAN No.: |
AAJPA2337H |
|
DIN No.: |
00014359 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Sarvaiya |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
M Suresh Jewellery Private Limited, India |
177300 |
|
Nitin Chunilal Adani |
92400 |
|
Lalitbhai Chunilal Adani |
133500 |
|
Manish Rameshchandra Pethani |
125000 |
|
Paresh Rameshchandra Pethani |
116200 |
|
Vijay Chunilal Adani |
92800 |
|
Twinklediam N. V. |
60000 |
|
Priti Manish Pethani |
49500 |
|
Suresh Pethani |
1000 |
|
Ramesh Pethani |
1800 |
|
Vimla L Adani |
18000 |
|
Total |
867500 |
|
Names of Preference Shareholders |
No. of Shares |
|
Twinklediam NV-(Belgium) |
230200 |
|
Nitin Chunilal Adani |
79900 |
|
Manish Pethani |
63000 |
|
Paresh Pethani |
55000 |
|
Vijay Chunilal Adani |
38600 |
|
Total |
466700 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
27.35 |
|
Directors
or relatives of directors |
72.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Diamonds. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
|
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|
Products : |
Polished Diamonds |
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Countries : |
· USA · Hong Kong · Israel |
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Imports : |
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Products : |
Rough Diamonds |
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Countries : |
· Belgium · Dubai · UK |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler, Retailer and End Users
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
·
State Bank of India Diamond Branch, West Core Bharat Diamond Bourse, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
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Facilities : |
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Champaklal Shah and Company Chartered Accountants |
|
Address : |
2/3 Shahviri, 1st
Floor, 37/41 R S Sapre Road, Kalbadevi Road, Mumbai –400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC1368D |
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|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Subsidiaries : |
·
M Suresh Company DMCC, United Arab Emirates ·
C I Jewels Private Limited, India (U22120MH1989PTC054450) ·
M Suresh Company (SA) Private Limited, South
Africa |
|
|
|
|
Fellow Subsidiary Company: |
The Jewellery
Group, Australia |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
·
M Suresh Jewellery Private Limited ·
M Suresh Exports Private Limited |
|
|
|
|
|
|
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Related Parties: |
·
Adora Jewels (India) Private Limited ·
Vaisali Infrastructure Private
Limited ·
Kalas Gems ·
Adinath Jewellery Exports |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 250.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 123.000 Million
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs. 100/- each |
Rs. 125.000 Million |
|
1250000 |
Preference Shares |
Rs. 100/- each |
Rs. 125.000 Million |
|
|
Total |
|
Rs. 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
867500 |
Equity Shares |
Rs. 100/- each |
Rs. 86.750 Million |
|
466700 |
Preference Shares |
Rs. 100/- each |
Rs. 46.670 Million |
|
|
Total |
|
Rs. 133.420
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 |
133.420 |
133.420 |
126.670 |
|
(b) Reserves & Surplus |
2327.481 |
2164.853 |
1919.567 |
|
(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) |
2460.901 |
2298.273 |
2046.237 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
9.929 |
9.938 |
4.666 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
22.000 |
20.000 |
17.400 |
|
Total
Non-current Liabilities (3) |
31.929 |
29.938 |
22.066 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3833.293 |
2962.413 |
3386.719 |
|
(b)
Trade payables |
3477.436 |
2397.356 |
1463.533 |
|
(c)
Other current liabilities |
77.205 |
112.828 |
101.566 |
|
(d)
Short-term provisions |
7.136 |
6.103 |
5.812 |
|
Total
Current Liabilities (4) |
7395.070 |
5478.700 |
4957.630 |
|
|
|
|
|
|
TOTAL |
9887.900 |
7806.911 |
7025.933 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
422.314 |
452.521 |
286.840 |
|
(ii)
Intangible Assets |
0.646 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
8.630 |
0.200 |
139.305 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
270.720 |
258.935 |
243.261 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
52.277 |
54.384 |
50.250 |
|
(e)
Other Non-current assets |
33.357 |
43.144 |
0.000 |
|
Total
Non-Current Assets |
787.944 |
809.184 |
719.656 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
25.000 |
|
(b)
Inventories |
5608.245 |
4578.505 |
3753.265 |
|
(c)
Trade receivables |
2734.412 |
1937.908 |
1325.265 |
|
(d)
Cash and cash equivalents |
122.967 |
98.160 |
127.102 |
|
(e)
Short-term loans and advances |
631.877 |
378.189 |
1074.793 |
|
(f)
Other current assets |
2.455 |
4.965 |
0.852 |
|
Total
Current Assets |
9099.956 |
6997.727 |
6306.277 |
|
|
|
|
|
|
TOTAL |
9887.900 |
7806.911 |
7025.933 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
10498.966 |
11071.338 |
8830.284 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
240.712 |
225.723 |
221.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
76.992 |
72.772 |
72.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
163.720 |
152.951 |
148.444 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
672.730 |
540.864 |
413.505 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
20.000 |
|
|
|
Dividend |
0.933 |
0.933 |
0.933 |
|
|
|
Tax on Dividend |
0.159 |
0.151 |
0.151 |
|
|
BALANCE CARRIED
TO THE B/S |
815.358 |
672.730 |
540.864 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
9491.833 |
10132.712 |
8572.204 |
|
|
TOTAL EARNINGS |
9491.833 |
10132.712 |
8572.204 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
122.71 |
114.64 |
111.26 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
12200.000 |
|
|
|
|
|
The above information has been parted by Mr. Rahul Sarvaiya (Accounts
Head)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
0.000 |
0.000 |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.56 |
1.38 |
1.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51 |
2.99 |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.56 |
1.29 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.28 |
1.27 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
126.670 |
133.420 |
133.420 |
|
Reserves & Surplus |
1919.567 |
2164.853 |
2327.481 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2046.237 |
2298.273 |
2460.901 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3386.719 |
2962.413 |
3833.293 |
|
Total
borrowings |
3386.719 |
2962.413 |
3833.293 |
|
Debt/Equity
ratio |
1.655 |
1.289 |
1.558 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
8830.284 |
11071.338 |
10498.966 |
|
|
|
25.379 |
(5.170) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
8830.284 |
11071.338 |
10498.966 |
|
Profit |
148.444 |
152.951 |
163.720 |
|
|
1.68% |
1.38% |
1.56% |
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 |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
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.
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 10/05/2013 |
|||||||
|
Lodging No. : |
SL/424/2013 |
Failing Date:- |
10/05/2013 |
Reg. No.: |
S/446/2013 |
Reg. No.: |
26/06/2013 |
|
Petitioner:- |
M/S BELIEF IMPEX PVT LTD CO- |
Respondent:- |
M. SURESH COMPANY PVT. LTD.- |
||||
|
Petn.Adv:- |
AJAY LAW ASSOCIATES (0) |
Resp. Adv.: |
MR.HEMANT DANDEKAR (2) () |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
SPECIFIC PERFORMANCE SUIT |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR WRITTEN STATEMENT |
||||
|
Last Date:- |
15/12/2014 |
||||||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
||||||
|
Act:- |
Code of Civil Procedure 1908 |
||||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80038346 |
26/09/2012 * |
4,070,000,000.00 |
STATE BANK OF INDIA |
DIAMOND BRANCH,
WEST CORE BHARAT DIAMOND BOURSE,, |
B60391182 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from Directors |
18.984 |
8.084 |
|
|
|
|
|
Total |
18.984 |
8.084 |
OPERATIONS:
During the year the company has sales of Rs.10498.966 Million and net
Profit after tax of Rs.163.720 Million.
FIXED ASSETS:
Tangible Assets
- Land
- Building
- Furniture and
Fixture
- Plant and
Machinery
- Office
Equipments and Electric Fittings
- Vehicle
- Computers
Intangible Assets
· Computer Software
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. 66.26 |
|
|
1 |
Rs. 101.99 |
|
Euro |
1 |
Rs. 74.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.