|
|
|
MIRA INFORM REPORT
|
Report No. : |
501001 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
NOVA |
|
|
|
|
Registered
Office : |
No. 752, G12, Andavar Complex, Ponnay Street, Cross Cut
Road, Gandhipuram, Coimbatore-641012, Tamilnadu |
|
Mobile No.: |
91-9786446466
[Mr. Dinesh K.R] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Establishment : |
04.11.2016 |
|
|
|
|
Capital
Investment : |
INR 0.051 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does
not have export and import] |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAOFN4826H1Z4 |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
Aadhar Udyog
No.: |
TN03A0054914 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOFN4826H |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Gold, Silver and Diamond Jewellery.
[Confirmed by Management] |
|
|
|
|
No. of Employees
: |
06 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
Status : |
Yet to commence commercial operation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the concern was started in November 2016, it is yet to commence with its commercial operation.
NOTE: Site visit will be sent in due course. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Sutharson J. |
|
Designation : |
Partner |
|
Contact No.: |
91-9363126699 |
|
Date : |
03.04.2018 |
LOCATIONS
|
Registered Office : |
No. 752, G12, Andavar Complex, Ponnay Street, Cross Cut
Road, Gandhipuram, Coimbatore-641012, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9786446466
[Mr. Dinesh K.R] 91-9363126699 [Mr. Sutharson J.] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
|
Locality : |
Commercial |
NOTE: As claimed by Mr. Sutharson J. (Partner)
that Ms. Anitha R. (Partner) has been retired on
15.02.2018.
PARTNERS
|
Name : |
Mr. Sutharson J. |
|
Designation : |
Partner |
|
Address : |
4G, Saravana Signature Dr. Amberkar Street, Venkatapuram, Coimbatore-641025, Tamilnadu, India |
|
Date of Birth/Age : |
18.07.1980 |
|
Qualification : |
BBA |
|
PAN No.: |
ASHPS8178G |
|
Aadhar No : |
730672194491 |
|
|
|
|
Name : |
Mr. Dinesh K.R |
|
Designation : |
Partner |
|
Address : |
No.90, T.S.S & co, Race Course, Coimbatore-641018,
Tamilnadu, India |
|
Date of Birth/Age : |
12.09.1980 |
|
Qualification : |
MBA |
|
PAN No.: |
AISPD8561D |
|
Aadhar No : |
645388086857 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Gold, Silver and Diamond Jewellery.
[Confirmed by Management] |
|
|
|
|
Products/ Services : |
· Gold Jewellery · Silver Jewellery · Diamond Jewellery |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Not Available |
|
Countries : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Not Available |
|
Countries : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit [30 Days] |
|
|
|
|
Purchasing : |
Credit [180 Days] |
PRODUCTION STATUS:
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Gold, Silver and Diamond Jewellery |
60 Kgs per Month Approx. |
Not Yet Started Production |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesaler, Retailers and End Users
· Elements Address: S29, 2nd Floor, Arayidathupalam, Kerala,
India ·
Jadav
Jewellers Address: 136 C Bose Road, 2nd Floor, Sowcarpet, Chennai - 600079,
Tamilnadu, India ·
Ishtara
Gem and Jewellers Address: Shop No. 10, 1st Floor, Chiragali Lane, Abids, Hyderabad-500001, Telangana, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
06 [Approximately] |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Krishna Raj Chartered Accountant |
|
Address : |
182A, Subramaniyan Road, R.S Puram, Coimbatore-641002, Tamilnadu, India |
|
Mobile No.: |
91-9092711446 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
PARTNERS
CAPITAL ACCOUNT AS ON 31.03.2017
|
PARTICULARS |
INR IN MILLION |
|
Partner’s Capital Account |
0.100 |
|
Partner’s Current Account |
(0.049) |
|
|
----------- |
|
TOTAL |
0.051 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital Account |
|
|
0.100 |
|
|
2] Partner’s Current Account |
|
|
(0.049) |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.051 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.051 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.024 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.013
|
|
|
Cash & Bank Balances |
|
|
0.031
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
0.044
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.017
|
|
Total
Current Liabilities |
|
|
0.017
|
|
|
Net Current Assets |
|
|
0.027
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.051 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Service Income |
|
|
0.017 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Incorporation Expenses |
|
|
0.005 |
|
|
|
Accounting and Auditing Ch. |
|
|
0.003 |
|
|
|
Rent and Amenities |
|
|
0.068 |
|
|
|
Office Maintenance |
|
|
0.006 |
|
|
|
Mobile Ph. Charges |
|
|
0.008 |
|
|
|
TOTAL |
|
|
0.090 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
INTEREST AND DEPRECIATION AND AMORTISATION |
|
|
(0.073) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE DEPRECIATION AND AMORTISATION |
|
|
(0.073) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.006 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
(0.079) |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
279.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
1.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
(3.04) |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
|
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
0.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.47 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
(464.71) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
(116.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
(154.90) |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
2.59 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
2.59 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
2.59 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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) |
No |
|
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 |
No |
|
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last one year |
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 & 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.
------------------------------------------------------------------------------------------------------------------------------
CALCULATION OF DEBT SERVICE COVERAGE RATIO
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
|
2018 Estimated |
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
|
SERVICE : |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit after
Tax |
7.066 |
21.384 |
28.780 |
36.961 |
42.589 |
|
|
|
|
|
|
|
|
Add: Depreciation |
0.325 |
0.851 |
1.174 |
0.998 |
0.848 |
|
|
|
|
|
|
|
|
Interest on Term
Loan |
0.028 |
0.653 |
0.896 |
0.729 |
0.541 |
|
|
|
|
|
|
|
|
Interest on Working
Capital |
0.292 |
3.500 |
3.500 |
3.500 |
3.500 |
|
|
|
|
|
|
|
|
Total
|
7.710 |
26.388 |
34.350 |
42.187 |
47.478 |
|
|
|
|
|
|
|
|
DEBT: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayment of Term
Loan |
0.000 |
0.271 |
1.377 |
1.620 |
1.807 |
|
|
|
|
|
|
|
|
Interest on Term Loan |
0.028 |
0.653 |
0.896 |
0.729 |
0.541 |
|
|
|
|
|
|
|
|
Interest on Working Capital |
0.292 |
3.500 |
3.500 |
3.500 |
3.500 |
|
|
|
|
|
|
|
|
Total
|
0.319 |
4.424 |
5.773 |
5.848 |
5.848 |
|
|
|
|
|
|
|
|
D.S.C.R. |
24.16 |
5.96 |
5.95 |
7.21 |
8.12 |
|
|
|
|
|
|
|
|
AVERAGE
D.S.C.R. |
11.34 |
||||
|
|
|
|
|
|
|
|
AVERAGE
D.S.C.R. for 8 years [from 2018 to
2025] |
7.58 |
||||
------------------------------------------------------------------------------------------------------------------------------
PROJECTED CASH FLOW
STATEMENT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
2018 Estimated |
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
|
|
INFLOW: |
|
|
|
|
|
|
NP before Interest |
10.500 |
35.100 |
46.000 |
57.700 |
65.700 |
|
|
|
|
|
|
|
|
Depreciation |
0.300 |
0.900 |
1.200 |
1.000 |
0.800 |
|
|
|
|
|
|
|
|
Increase in Share Capital |
3.000 |
3.000 |
--- |
1.000 |
--- |
|
|
|
|
|
|
|
|
Increase in Unsecured Loans |
18.000 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Term Loan - KVB |
3.000 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Term Loan - KVB |
-- |
6.000 |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Working Capital |
100.000 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Sundry Creditors |
1.900 |
0.800 |
(1.000) |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
Increase in Other Curr. Liabilities |
3.400 |
1.500 |
1.500 |
(0.300) |
0.100 |
|
|
|
|
|
|
|
|
Total |
140.200 |
47.300 |
47.700 |
59.400 |
66.600 |
|
|
|
|
|
|
|
|
OUTFLOW: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Fixed Assets |
3.000 |
3.000 |
(0.900) |
(1.200) |
(1.000) |
|
|
|
|
|
|
|
|
Increase in Rawmaterials |
-- |
4.300 |
8.600 |
1.300 |
4.700 |
|
|
|
|
|
|
|
|
Increase in Process stock |
-- |
31.500 |
12.300 |
9.200 |
30.000 |
|
|
|
|
|
|
|
|
Increase in Finished goods |
-- |
19.300 |
61.200 |
58.600 |
(41.700) |
|
|
|
|
|
|
|
|
Increase in Stores & Packing
Materials |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Sundry Debtors |
62.400 |
(61.400) |
0.500 |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
Increase in Other Curr. Assets |
15.700 |
(3.600) |
6.000 |
4.000 |
2.500 |
|
|
|
|
|
|
|
|
TL repayment - KVB |
-- |
0.300 |
0.500 |
0.600 |
0.600 |
|
|
|
|
|
|
|
|
TL repayment - KVB |
-- |
-- |
0.900 |
1.100 |
1.200 |
|
|
|
|
|
|
|
|
Int. on Term Loan KVB |
0.000 |
0.300 |
0.300 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
Int. on Term Loan KVB |
-- |
0.300 |
0.600 |
0.500 |
0.400 |
|
|
|
|
|
|
|
|
Increase in Pre Operative expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Bank Guarantee margin |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Increase in Fixed Deposit |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Taxation |
-- |
-- |
-- |
1.500 |
1.700 |
|
|
|
|
|
|
|
|
Total |
81.100 |
(6.000) |
90.000 |
75.800 |
(1.400) |
|
|
|
|
|
|
|
|
Surplus / Deficit |
59.100 |
53.300 |
(42.300) |
(16.400) |
68.100 |
|
|
|
|
|
|
|
|
Opening Balance |
3.000 |
62.100 |
115.400 |
73.100 |
56.700 |
|
|
|
|
|
|
|
|
Closing Balance |
62.100 |
115.400 |
73.100 |
56.700 |
124.800 |
-----------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
2018 Estimated |
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
|
|
Gross Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
(i) Domestic Sales |
60.800 |
--- |
552.300 |
649.114 |
746.481 |
|
|
|
|
|
|
|
|
Commission & Service Charges |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(ii) Export Sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Other income |
6.080 |
43.800 |
55.230 |
64.911 |
74.6485 |
|
|
|
|
|
|
|
|
Total |
66.880 |
43.800 |
607.530 |
714.025 |
821.129 |
|
|
|
|
|
|
|
|
Less : Excise Duty |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Deduct other items |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net sales ( item
1 - item 2 ) |
66.880 |
43.800 |
607.530 |
714.025 |
821.129 |
|
|
|
|
|
|
|
|
% age rise (+)
or fall (-) in net sales compared to previous year (annualised) |
-- |
(34.51) |
1287.05 |
17.53 |
15.00 |
|
|
|
|
|
|
|
|
COST OF SALE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw materials (including stores and other items used in the process of
manufacture) |
-- |
-- |
-- |
-- |
-- |
|
Add : Opening Stock |
-- |
4.300 |
12.900 |
14.190 |
18.876 |
|
[a] Imported |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
[b] Indigenous |
97.900 |
452.800 |
484.455 |
537.256 |
637.844 |
|
|
|
|
|
|
|
|
Less: Closing Stock |
4.300 |
12.900 |
14.190 |
18.876 |
20.764 |
|
|
|
|
|
|
|
|
Consumption |
93.600 |
444.200 |
483.165 |
532.570 |
635.957 |
|
|
|
|
|
|
|
|
Other Spares |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
a) Imported |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
b) Indigenous |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Power & Fuels |
0.350 |
3.150 |
3.850 |
4.550 |
5.233 |
|
|
|
|
|
|
|
|
Direct Labour (Factory Wages & Salaries) |
1.500 |
6.300 |
7.7000 |
9.100 |
10.465 |
|
|
|
|
|
|
|
|
Other Manufacturing expenses |
10.640 |
-- |
69.038 |
81.139 |
93.310 |
|
|
|
|
|
|
|
|
Depreciation |
0.325 |
0.851 |
1.174 |
0.998 |
0.848 |
|
|
|
|
|
|
|
|
SUB-TOTAL (I TO VI) |
106.415 |
--- |
564.926 |
628.357 |
745.812 |
|
|
|
|
|
|
|
|
Add : Opening Stock-in- process |
--- |
31.500 |
43.800 |
53.000 |
83.0000 |
|
|
|
|
|
|
|
|
Sub Total |
106.415 |
--- |
608.726 |
681.357 |
828.812 |
|
|
|
|
|
|
|
|
Deduct: Closing stock-in- process |
31.500 |
43.800 |
53.000 |
83.000 |
87.150 |
|
|
|
|
|
|
|
|
Cost of Production |
74.915 |
--- |
555.726 |
598.357 |
741.662 |
|
|
|
|
|
|
|
|
Add : Opening Stock Stock of finished goods |
--- |
19.300 |
80.500 |
139.128 |
97.405 |
|
|
|
|
|
|
|
|
Sub Total |
74.915 |
--- |
636.226 |
737.485 |
839.067 |
|
|
|
|
|
|
|
|
Deduct: Closing Stock of
finished goods |
19.300 |
80.500 |
88.550 |
97.405 |
102.275 |
|
|
|
|
|
|
|
|
SUB-TOTAL (Total
cost of Sales) |
55.615 |
--- |
547.676 |
640.080 |
736.792 |
|
|
|
|
|
|
|
|
Selling, general and administrative
expenses |
0.720 |
--- |
13.808 |
16.228 |
18.662 |
|
|
|
|
|
|
|
|
SUB - TOTAL |
56.335 |
--- |
561.484 |
656.308 |
755.454 |
|
|
|
|
|
|
|
|
Operating Profit before interest |
10.545 |
--- |
46.046 |
57.717 |
65.675 |
|
|
|
|
|
|
|
|
Working Capital Interest/ BG and GML |
0.292 |
3.500 |
3.500 |
3.500 |
3.500 |
|
|
|
|
|
|
|
|
Term Loan interest |
0.028 |
0.653 |
0.896 |
0.729 |
0.541 |
|
|
|
|
|
|
|
|
Total Interest |
0.319 |
4.153 |
4.396 |
4.229 |
4.041 |
|
|
|
|
|
|
|
|
Operating Profit after interest |
10.226 |
-- |
41.650 |
53.489 |
61.633 |
|
|
|
|
|
|
|
|
Add: Other Non-operating Income |
|
|
|
|
|
|
(i) |
|
|
|
|
|
|
(a) |
-- |
-- |
-- |
-- |
-- |
|
(b) |
-- |
-- |
-- |
-- |
-- |
|
(c) |
-- |
-- |
-- |
-- |
-- |
|
(d) Sub-total ( income ) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Deduct other non-operating expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(ii) P&P expense inncluding |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(a) All book entries written off |
-- |
-- |
-- |
-- |
-- |
|
Prior period adjustments |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(b) Net of other non-operating |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Income/expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Profit before tax / (Loss) |
10.226 |
--- |
41.650 |
53.489 |
61.633 |
|
|
|
|
|
|
|
|
Provision for taxation |
3.160 |
--- |
12.870 |
16.528 |
19.045 |
|
|
|
|
|
|
|
|
Prior Years Adjustment(if any)# |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net profit/loss
for the year |
7.066 |
--- |
28.780 |
36.961 |
42.589 |
|
|
|
|
|
|
|
|
(a) Equity dividend paid-amt |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(Already paid+ B.S. provision) |
|
|
|
|
|
|
(b) Dividend Tax Including Surcharge |
-- |
-- |
-- |
-- |
-- |
|
(c) Dividend Rate |
-- |
-- |
-- |
-- |
-- |
|
(d) Transfer to General Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Retained Profit ( 14-15 ) |
7.066 |
-- |
28.780 |
36.961 |
42.589 |
|
|
|
|
|
|
|
|
Retained
profit/Net profit (% age) |
-- |
-- |
-- |
-- |
-- |
|
|
100.00 |
--- |
100.00 |
100.00 |
100.00 |
-----------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(INR IN MILLION)
|
SR. NO. |
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
2018 Estimated |
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
||
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
1. |
Short Term Borrowings From
Banks (including Bills Purchases, Discounted & Excess Borrowings Placed on
Repayment Basis) |
|
|
|
|
|
|
|
(i) From Applicant Bank |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(ii) From Other Banks |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
|
|
|
|
|
|
|
|
|
|
(iii) Of which BP & BD |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
SUB TOTAL |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
|
|
|
|
|
|
|
|
|
2. |
Short Term Borrowings From Others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
3. |
Sundry Creditors (Trade) |
1.900 |
2.730 |
1.707 |
1.715 |
1.778 |
|
|
|
|
|
|
|
|
|
4. |
Advance Payments From Customers/ Deposits from
Dealers |
-- |
2.864 |
20.313 |
59.656 |
68.653 |
|
|
|
|
|
|
|
|
|
5. |
Provision For Taxes |
3.160 |
--- |
5.870 |
5.528 |
5.545 |
|
|
|
|
|
|
|
|
|
6. |
Dividend Payable |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
7. |
Other Statutory Liabilities (Due Within One Year) |
0.260 |
0.340 |
0.510 |
0.535 |
0.572 |
|
|
|
|
|
|
|
|
|
8. |
Deposits/ Installments of Term Loans/ DPGs/ Debentures,
etc (Due within One Year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
9. |
Other Current Liabilities & Provisions (Due
within 1 Year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
Sundry Creditors for Expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
SUB TOTAL (B) |
5.320 |
--- |
28.400 |
67.434 |
76.548 |
|
|
|
|
|
|
|
|
|
10. |
TOTAL CURRENT LIABILITIES |
105.320 |
--- |
128.400 |
167.434 |
176.548 |
|
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11. |
Debentures (Not Maturing With in One Year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
12. |
Preference Shares (Redeemable After One Year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
13. |
Term loans (excluding instalment) not Payable within
1 year) |
3.000 |
8.729 |
7.352 |
5.732 |
3.925 |
|
|
|
|
|
|
|
|
|
14. |
Sales Tax Deferred Credits (excluding
instalments due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
15. |
Hire Purchase Loans |
-- |
-- |
-- |
-- |
-- |
|
|
Creditors for Capital goods |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
16. |
Other Term Liabilities (loans from Directors/
Relatives/ Sister Concern) |
18.040 |
12.000 |
12.000 |
12.000 |
12.000 |
|
|
(This amount will not be settled back unless the
bank's dues are over) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17. |
TOTAL TERM LIABILITIES |
21.040 |
20.729 |
19.352 |
17.732 |
15.925 |
|
|
|
|
|
|
|
|
|
18. |
Total Outside Liabilities |
126.360 |
--- |
147.752 |
185.166 |
192.473 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
19. |
Ordinary share capital |
3.000 |
6.000 |
6.000 |
7.000 |
7.000 |
|
|
|
|
|
|
|
|
|
20. |
Capital reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
21. |
General reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
22. |
Revaluation Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
23. |
Share Application Money |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
24. |
Surplus (+) or deficit (-) in Profit & Loss Account |
7.066 |
--- |
28.780 |
36.961 |
42.589 |
|
|
|
|
|
|
|
|
|
24.a |
Deffered Tax Liability (DTL) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
25. |
Net Worth |
10.066 |
--- |
34.780 |
43.961 |
49.589 |
|
|
|
|
|
|
|
|
|
26. |
Total Liabilities |
136.426 |
--- |
182.532 |
229.127 |
242.062 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
26. |
Cash and Bank Balances |
0.582 |
0.535 |
0.616 |
0.643 |
0.956 |
|
|
|
|
|
|
|
|
|
|
Fixed Deposits with Banks |
|
|
|
|
|
|
28. |
(i) Receivables Other Than Deferred & Exports
(Including Bills Purchased and Discounted by banks) |
62.411 |
1.015 |
1.526 |
1.550 |
1.612 |
|
|
|
|
|
|
|
|
|
|
(ii) Export Receivables
(Including Bills Purchased and Discounted by banks) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
29. |
Installments of Deferred
Receivables (due with in 1 year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
30. |
Inventory : |
55.100 |
137.200 |
155.740 |
199.281 |
210.189 |
|
|
(i) Raw Materials (Including Stores & Other
Items Used in the Process of Manufacture) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Imported |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(b) Indigenous |
4.300 |
12.900 |
14.190 |
18.876 |
20.764 |
|
|
|
|
|
|
|
|
|
|
(ii) Stocks-in-process |
31.500 |
43.800 |
53.000 |
83.000 |
87.150 |
|
|
|
|
|
|
|
|
|
|
(iii) Finished Goods |
19.300 |
80.500 |
88.550 |
97.405 |
102.275 |
|
|
|
|
|
|
|
|
|
|
(iv) Other
Consumable Spares |
-- |
-- |
-- |
-- |
-- |
|
|
(a) Imported |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(b) Indigenous |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
31. |
Advances to Suppliers of Raw Material & Stores and
Spares |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
32. |
Advance Payment of Taxes |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
33. |
Other Current Assets |
15.658 |
12.035 |
18.000 |
22.000 |
24.500 |
|
|
|
|
|
|
|
|
|
|
Income tax for earlier years |
-- |
-- |
-- |
-- |
-- |
|
|
Interest accrued on Fixed Deposits |
-- |
-- |
-- |
-- |
-- |
|
|
Other Current assets (Specify major items) |
15.658 |
12.035 |
18.000 |
22.000 |
24.500 |
|
|
|
|
|
|
|
|
|
34. |
Total Current Assets |
133.751 |
150.785 |
175.882 |
223.474 |
237.257 |
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
35. |
Gross Block (Land & Building machinery, wip) |
3.000 |
8.675 |
7.824 |
6.650 |
5.653 |
|
|
|
|
|
|
|
|
|
36. |
Depreciation to date
|
0.325 |
0.851 |
1.174 |
0.998 |
0.848 |
|
|
|
|
|
|
|
|
|
37. |
Net Block |
2.675 |
7.824 |
6.650 |
5.653 |
4.805 |
|
|
|
|
|
|
|
|
|
|
OTHER NON-CURRENT ASSETS |
|
|
|
|
|
|
38. |
Investments/Book Debt/Advances/Deposits Which Are
Not Current Assets |
-- |
-- |
-- |
-- |
-- |
|
|
(i)
a) Investments in Subsidiary Companies Affiliates |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
b)
Other Investments |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(ii)
Advances to Suppliers of Capital Goods and Contractors |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(iii) Deferred Receivables (Maturity exceeding One
Year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
(iv) Others (a) Debtors> 6 months |
-- |
-- |
-- |
-- |
-- |
|
|
(b) Security Deposits |
-- |
-- |
-- |
-- |
-- |
|
|
(c) Project Surplus |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
39. |
Non-Consumable Stores & Spares |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
40. |
Other Non-Current Assets Including dues from
Directors |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
41. |
Total Other Non-Current Assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
42. |
Intangible Assets (Patents, Goodwill, Preliminary
Expenses, Bad Doubtful expenses not provided for etc) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
43. |
Total Assets (34+37+41+42) |
136.426 |
158.609 |
182.532 |
229.127 |
242.062 |
-----------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT [DETAILED]
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
2023 Projected |
|
|
SOURCES |
|
|
|
|
|
|
Net Profit after tax |
21.384 |
21.384 |
28.780 |
36.961 |
42.589 |
|
|
|
|
|
|
|
|
Depreciation |
0.526 |
0.322 |
(0.176) |
(0.150) |
(0.127) |
|
|
|
|
|
|
|
|
Increase in Capital |
3.000 |
--- |
1.000 |
--- |
--- |
|
|
|
|
|
|
|
|
Increase in Term Liabilities [Including public deposits) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Decrease in |
|
|
|
|
|
|
-
Fixed Assets |
--- |
0.851 |
1.174 |
0.998 |
0.848 |
|
|
|
|
|
|
|
|
-
Other non-current assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Others |
14.318 |
7.397 |
8.180 |
5.628 |
8.643 |
|
|
|
|
|
|
|
|
TOTAL |
39.228 |
29.955 |
38.958 |
43.437 |
51.952 |
|
|
|
|
|
|
|
|
USES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Decrease in Term Liabilities [Including
Public Deposits] |
0.311 |
1.377 |
1.620 |
1.807 |
3.016 |
|
|
|
|
|
|
|
|
Increase in |
|
|
|
|
|
|
-
Fixed Assets |
5.675 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
-
Other non-current assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Dividend Payments |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL |
5.986 |
1.377 |
1.620 |
1.807 |
3.016 |
|
|
|
|
|
|
|
|
Long term surplus (+) / deficit (-) (1-2) |
33.242 |
28.578 |
37.339 |
41.630 |
48.936 |
|
|
|
|
|
|
|
|
Increase/(decrease) in current assets |
17.034 |
25.097 |
47.592 |
13.783 |
14.375 |
|
|
|
|
|
|
|
|
Increase/(decrease) in current liabilities
other than bank borrowings |
5.177 |
17.904 |
39.034 |
9.114 |
8.027 |
|
|
|
|
|
|
|
|
Increase/(decrease) in working capital gap |
11.857 |
7.193 |
8.558 |
4.669 |
6.348 |
|
|
|
|
|
|
|
|
Net surplus (+) deficit (-) |
21.385 |
21.385 |
28.781 |
36.961 |
42.588 |
|
|
|
|
|
|
|
|
Increase/decrease in bank borrowings |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Long Term Sources |
39.228 |
29.955 |
38.958 |
43.437 |
51.952 |
|
|
|
|
|
|
|
|
Long Term Uses |
5.986 |
1.377 |
1.620 |
1.807 |
3.016 |
|
|
|
|
|
|
|
|
Surplus/Deficit |
33.242 |
28.578 |
37.339 |
41.630 |
48.936 |
-----------------------------------------------------------------------------------------------------------------------------
PERFORMANCE AND FINANCIAL INDICATORS
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS (PROJECTED) |
||||
|
2018 Estimated |
2019 Projected |
2020 Projected |
2021 Projected |
2022 Projected |
|
|
Domestic Sales(Gross) |
6080.000 |
43800.000 |
55230.000 |
64911.400 |
74648.100 |
|
|
|
|
|
|
|
|
Export Sales |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net Sales |
6688.000 |
48180.000 |
60753.000 |
71402.500 |
82112.900 |
|
|
|
|
|
|
|
|
% rise/fall (-) in net sales |
--- |
(34.51) |
1287.05 |
17.53 |
15.00 |
|
|
|
|
|
|
|
|
Operating Profit |
1022.600 |
3094.600 |
4165.000 |
5348.900 |
6163.300 |
|
|
|
|
|
|
|
|
Profit Before tax |
1022.600 |
3094.600 |
4165.000 |
5348.900 |
6163.300 |
|
|
|
|
|
|
|
|
PBT/ Sales (%) |
15.29 |
6.42 |
6.86 |
7.49 |
7.51 |
|
|
|
|
|
|
|
|
Profit After Tax |
706.600 |
2138.400 |
2878.000 |
3696.100 |
4258.900 |
|
|
|
|
|
|
|
|
Cash Accrual |
739.100 |
2223.500 |
2995.400 |
3795.800 |
4343.700 |
|
|
|
|
|
|
|
|
Paid Up Capital |
300.000 |
600.000 |
600.000 |
700.000 |
700.000 |
|
|
|
|
|
|
|
|
TNW |
1006.600 |
2738.400 |
3478.000 |
4396.100 |
4958.900 |
|
|
|
|
|
|
|
|
Adjusted TNW |
1006.600 |
2738.400 |
3478.000 |
4396.100 |
4958.900 |
|
|
|
|
|
|
|
|
TOL/TNW (times) |
12.55 |
4.79 |
4.25 |
4.21 |
3.88 |
|
|
|
|
|
|
|
|
Adjusted TOL/TNW |
12.55 |
4.79 |
4.25 |
4.21 |
3.88 |
|
|
|
|
|
|
|
|
NWC |
2843.100 |
4028.900 |
4748.200 |
5604.000 |
6070.900 |
|
|
|
|
|
|
|
|
Current Ratio |
1.27 |
1.36 |
1.37 |
1.33 |
1.34 |
|
|
|
|
|
|
|
|
Other Ratios |
|
|
|
|
|
|
Operating Cost/ sales % |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
|
Net Sales /TTA (times) |
0.49 |
3.04 |
3.33 |
3.12 |
3.39 |
|
|
|
|
|
|
|
|
PBDIT |
1371.100 |
6274.300 |
5569.400 |
7101.400 |
8152.600 |
|
|
|
|
|
|
|
|
EFFICIENCY
RATIOS |
|
|
|
|
|
|
Net Sales/ Total Tangible Assets (times) |
0.49 |
0.34 |
3.33 |
3.12 |
3.39 |
|
|
|
|
|
|
|
|
PBT/ Total Tangible Assets (%) |
7.50 |
19.51 |
22.82 |
23.34 |
25.46 |
|
|
|
|
|
|
|
|
Operating Cost to sales (%) |
16.24 |
8.15 |
8.30 |
8.68 |
8.49 |
|
|
|
|
|
|
|
|
Bank Finance/ Ct. Assets (%) |
74.77 |
66.32 |
56.86 |
44.75 |
42.15 |
|
|
|
|
|
|
|
|
Inventory+ Receivables to net Sales (days) |
641 |
102 |
94 |
103 |
94 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. DINESH K.R. [PARTNER]
(INR IN MILLION)
(A) TOTAL VALUE OF
IMMOVABLE PROPERTY:
|
Nature of Property |
Situated at |
Market Value (INR IN Million) |
|
Residential Building |
90, Race course, Coimbatore |
200.000 |
|
Commercial Building |
90, Race course, Coimbatore |
100.000 |
|
Commercial Building |
T V Samy Road, RS Puram, Coimbatore |
150.000 |
|
Commercial Building |
489,0ppanakara Street, Coimbatore |
500.000 |
|
Agricultural Land |
Chettipalayam, Coimbatore |
120.000 |
|
Agricultural Land |
Kovilpalyam, Coimbatore |
100.000 |
|
Agricultural Land |
Kuniamuthur, Coimbatore |
50.000 |
|
|
|
|
|
Total |
1220.000 |
|
(B) TOTAL VALUE OF OTHER ASSETS:
|
Nature of Asset |
Particulars of Asset/ Complete
Description |
Value at Cost (INR IN Million) |
|
Mutual Funds |
Franklin Tem leton India |
0.500 |
|
FDR in Bank |
fixed Deposit with Cholamandalam |
0.500 |
|
Business investment |
As a proprietor in T S Chand & co |
24.000 |
|
Vehicle |
Car |
2.000 |
|
|
|
|
|
TOTAL |
27.000 |
|
(C) TOTAL
LIABILITIES:
|
Borrowed From |
Amount & Securities offered |
Purpose |
O/s as on date (INR IN Million) |
|
HDFC car loan |
20 lakhs |
Car Purchase |
1.000 |
|
Cholamanlam finance |
4 Crores |
Business Investment in TS Chand & co |
20.000 |
|
|
|
For Construction commercial property In Race course road, Coimbatore |
20.000 |
|
|
|
|
|
|
TOTAL |
41.000 |
||
|
NET WORTH [A+B-C] |
1206.000 |
-----------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. SUTHARSON J. [PARTNER]
(INR IN MILLION)
(A) TOTAL VALUE OF
IMMOVABLE PROPERTY:
|
Nature of Property |
Location with Complete Address |
Market Value (INR IN Million) |
|
Land at Ganapathy |
T.S.No.44, Mariamman Kovil St., Ganapathy, Coimbatore — 641006. |
31.380 |
|
|
|
|
|
Total |
31.380 |
|
(B) TOTAL VALUE OF OTHER ASSETS:
|
Nature of Asset |
Particulars of Asset/ Complete
Description |
Qty. |
Value at Cost (INR IN Million) |
|
Jewellery |
Gold Jewellery |
245 Grams |
0.711 |
|
Bank Balance |
Karnataka Bank-SB-477501 |
|
0.005 |
|
Bank Balance |
TMB -SB-5031 |
|
0.006 |
|
Business Investment |
As a Partner in Suryadev Jewellery |
|
7.969 |
|
Business Investment |
As proprietor in Aarushi Jewellery |
|
20.865 |
|
Business Investment |
As a Partner in NOVA |
|
0.026 |
|
|
|
|
|
|
TOTAL |
|
29.582 |
|
(C) TOTAL
LIABILITIES:
|
Borrowed From |
Amount & Securities offered |
Purpose |
O/s as on date (INR IN Million) |
|
Canara Bank |
INR 20.000 Million — Ganapathy Land |
Investment in Aarushi Jewellery |
20.000 |
|
|
|
|
|
|
TOTAL |
20.000 |
||
|
NET WORTH [A+B-C] |
40.962 |
-----------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
BUSINESS PROFILE
NOVA– is a Partnership concern which is established in 2016.
Initially NOVA was
started with an intention of supporting Jewellery industry in the form of
Manufacturing Prototype of Jewellery Products, Mechanical components, Rubber
moulds and Castings and later based on Market availability of Wholesale
dealerships on District wise it was planned to engage as Manufacturers and
Wholesale suppliers of diamond, gold and silver jewellery.
Most noted for
their eye is perfection and delivery of extreme quality consciousness, they
showcase their reputation through their benchmarked collection of wide-ranged
designs which can ensure through their partnered
ventures.
Their energetic and
young team is committed to offering the best jewellery designs, retail
excellence and stronger brand building.
THEIR VISION
Having plan to
made a strong foothold in the industry, they now strive to transform ourselves
into a strong brand entity. All in all, NOVA will be fast-upcoming brand with a
vision of becoming one of the largest wholesalers and manufacturers of diamond
and gold jewelry in India very soon.
STRONG BUSINESS ETHICS—COMPLIANCE WITH REGULATORY
NORMS
They are committed
to delivering 100 percent value to all their vendors, customers and employees.
Their jewellery
processing and finishing processes go through stringent quality tests before
being passed on to their Wholesale Customers.
Moreover, they
showcase their deepest understanding and concerns for all Wholesaler and
consumer requirements, place ourselves in their shoes, and fulfil all
requirements.
THEIR VERSATILE
JEWELLERY DESIGNS
Since one of the
Partner Mr. Sutharson is from Family background of Jewellery Business can able to
deliver specialize in all types of handmade jewellery—from nahas (ornaments
fordeities) to customized wedding designs – yes, they do it all.
All their
jewellery designs boast of a distinct personality, create their very own
enduring appeal, and gift differentiated fashion statements to different kinds
of customers.
They are focused
into Gold and diamond manufacturing jewellery Sector which is well explained
below:
GOLD JEWELLERY
Hand-Made
· Jumkas
· Earing
· Chains
· Anklets
· Necklace
· Haaram
· Fusion Jewellery
Machine-Made
· chains
· Casting- Rings,
· Earing, Necklace
Antique
· Nahas
· Temple Jewellery
Studded Jewellery
· Precious- Necklace, Ring, Earing
· Semi-Precious-Necklace, Ring, Earing
Diamond Jewellery
Close setting Diamond Jewellery
· Jumkas
· Earring
· Chains
· Anklets
· Necklace
· Haram and much more !
Open setting Diamond Jewellery
· Jumkas
· Earring
· Chains
· Anklets
· Necklace
· Haram and much more !
THEIR CLIENTS
They focus in
building and nurturing long term Relationship with their client / Wholesaler ensuringsustainable
future for the sector.
QUALITY ASSURANCE
The biggest proof
of purity of and gold is the BIS hallmark on every piece of jewellery.
The hallmarks are
printed only after the gold jewellery passes through various quality tests prescribed
by the bureau of Indian Standards. Their jewellery processing and finishing
processes go through stringent quality tests before being passed on to their
buyers.
Working according
to the business ethics of their company, they have been able to provide maximum
satisfaction to the customers.
SAFETY MEASURES
They planned to
follow some of the safety measures below to make them strong towards
theuncertainties.
CCTV Camera System
that keeps away from theft, And keep a track on punctuality, or productivity of
employees.
Strong 24X7 security System with an alarm alert.
A Strongroom
designed for safeguarding jewellery products, money and important documents.
An insurance
coverage which protects us against loss, theft, damage and mysterious disappearance
of Jewellery.
PARTNERS PROFILE
K.R. DINESH
Role in Existing Businesses:
Presently Owned a Home Appliance Show room which exist for nearly 35 years
for a Renowned Brand Butterfly in his own premise and doing a decent business.
Also professionally engaged in Financial cum Business portfolio Services
and achieved an Investment figure nearly Rupees Thirty Five Crores.
As briefing about above service, all Financial investment referred as
suggestion provided to invest in Specified Mutual Funds which enables to draw a
sufficient return with a nature of secured buckets and Business investments
referred as analysing and charting out of suitable business according to
clients requirement with all sorts of information’s like Type of Business,
volume of investment, Market potentiality, Labour availability, statutory
requirements and even about suitable location which can able to give assured
returns with specified period of Investments.
Since he is capable to derive all things related to any type of business
investment by the way he served his client in past, now he himself had chosen
the field of Jewellery to invest up to INR 100.000 Million. Also what he choose
to invest now is a type of gathering Investors in wholesale manner on different
Districts of Tamilnadu and on later stage extending all over India.
Hence then he admitted as Partner in NOVA (a Partnership Firm) with Mr.
Sutharson. J as to enable his dream comes true in the form of successive
Investment and huge business potentiality with higher profit scale.
And his family background is something like arriving huge income through
heavy fixed assets in the form of Rental and Agriculture and always encourages
investing in Good plotted businesses.
J. SUTHARSON
Role in Existing Businesses:
a.) as a Partner:
Presently being a Partner in an Existing Organisation which is engaged in Manufacturing and Trading of Jewellery and allied business both in Domestic and Exports under the Trade name of M/S. Suryadev Jewellery.
Being a Promoter he stated the Firm during September 2011 with an intention to Mark a Milestone in the Manufacturing and Exporting of Jewels. Initially the Firm consist of only two Partners and on 1st October 2015 he was admitted as New Partner and so far it is performing well as planned by him.
Now the Firm is providing Job and Income support to nearly 150 Persons directly and to 75 Persons indirectly with the aspects of fulfilling all statutory needs.
The Turnover of the Firm is marked well and given below for reference:
FY-2011-12 – INR 4.194 Million
FY-2012-13 – INR 33.741 Million
FY-2013-14 - INR 32.592 Million
FY-2014-15 - INR 44.523 Million
FY-2015-16 – INR 591.650 Million (INR 590.000 Million)
FY-2016-17 - INR 333.640 Million (INR 330.000 Million)
-----------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
Tangible Assets
· Furniture
· Computers and Printers
-----------------------------------------------------------------------------------------------------------------------------
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
|
INR |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial condition covering various ratios
·
Company background and operations size
·
Promoters / Management background
·
Payment record
·
Litigation against the subject
·
Industry scenario / competitor analysis
·
Supplier / Customer / Banker review (wherever
available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.