|
|
|
MIRA INFORM REPORT
|
Report No. : |
502611 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
JASANI INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
UNI-GEM INDIA PRIVATE LIMITED |
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|
|
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Registered
Office : |
HW6010, Tower "H" 6th Floor, Bharat Diamond Bourse, Bandra
Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra |
|
Tel. No.: |
91-22-42133003 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
11.05.1973 |
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|
|
|
Com. Reg. No.: |
11-016542 |
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|
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Capital
Investment / Paid-up Capital : |
INR 1.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36900MH1973PTC016542 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACU0081C1ZT |
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|
|
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TIN No.: |
27970054850 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACU0081C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject Deals in Sale of Polished, Rough diamonds and Studded Jewellery and also Manufacturing and Sale of Studded Jewellery along with Rough and Polished Diamonds. [Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1973. The company is engaged in sale
of polished, rough diamonds and studded jewellery. For the financial year 2017, the company has achieved revenue growth
of 46.58% as compared to the previous year along with an average profit
margin of 1.20%. The sound financial risk profile of the company is marked by
sufficient net worth base along with average debt balance sheet profile. Rating takes into consideration the subject’s healthy Earnings per
Share of INR 9965 against the Face Value of INR 100. Rating is constrained on account of highly competitive diamond
industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. Note: The Composite
Scheme of Arrangement and Amalgamation ('the Scheme') among Dia-Man Exports
Private Limited, Ratilal Becharlal Diamonds Private Limited, Ornate Gems
Private Limited, Uni-Gem India Private Limited, Jasani Jewellery Private
Limited and Jasani Diamonds Private Limited and their respective Shareholders
and creditors had been filed with the High Court of Judicature at Bombay
under Scheme Petition No.651 to 656 (both inclusive) and Company Summons for
Direction No. 495 to 500 (both inclusive) of 2016. Pursuant to the same, the
said Scheme of Arrangement and Amalgamation had been approved by the Hon'ble
High Court, Bombay vide its order dated 30th November, 2016 with effective
Date is 1st December, 2016. Pursuant to the said Scheme and the Resolutions passed at the Extra
Ordinary meeting held dated 15th December, 2015, the Memorandum of
Association of the subject company was altered and amended and pursuant to
Clause 7 of the Scheme, the name of the Company was changed to “JASANI INDIA
PRIVATE LIMITED” Standalone Financial Statements for period 01/04/2016 to
31/03/2017. In terms of the Scheme, the assets and liabilities relatable to Rental
of Industrial Galas (the demerged undertaking) has been transferred at values
appearing in the books of accounts as on 1st April, 2015. Accordingly, net assets
of INR8,49,390/- were demerged and equivalent amount has been appropriated
against the General Reserve, pursuant to the said Court Order, 13,400 Shares
are allotted in Jasani Diamonds Private Limited (JDPL) to the shareholders of
the subject Company. In terms of the Scheme of Arrangement sanctioned by the
Hon'ble High Court of Bombay, Jasani Jewellery Private Limited (JJPL) engaged
in the business of diamond and jewellery and the Amalgamating Undertakings
viz., Diaman Exports Private Limited (DMPL) engaged in the business of
Purchase , Manufacturing and Sales of Gems and Jewellery, Ornate Gems Private
Limited (OGPL) engaged in the business of manufacturing of jewellery and
Ratilal Becharlal Diamonds Private Limited (RBDPL) engaged in the business of
processing of diamonds have been Amalgamated with the subject company. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Borrowing=A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
18.04.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Borrowing=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
18.04.2017 |
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 10.04.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-42133003]
LOCATIONS
|
Registered Office : |
HW6010, Tower "H" 6th Floor, Bharat Diamond Bourse, Bandra
Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-42133003/ 66400909/ 29271541 |
|
Fax No.: |
91-22-42135030 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Shyam Abhay Jasani |
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Designation : |
Director |
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Address : |
B-2, 28th Floor, Prithvi Apartments, 21-Alamount Road,
Cumballa-Hill, Mumbai- 400026, Maharashtra, India |
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Date of Birth/Age : |
22.03.1971 |
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Qualification : |
MBA |
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Date of Appointment : |
16.11.1995 |
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PAN No.: |
AACPJ3729R |
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DIN No.: |
00083679 |
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|
||||||||||||||||
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Name : |
Mr. Abhay Ratilal Jasani |
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Designation : |
Director |
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|
Address : |
B-1, Pruthvi Apartments, B-Wing, 23rd Floor, Alamount
Road, Mumbai-400026, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
22.10.1945 |
||||||||||||||||
|
Qualification : |
IIT |
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Date of Appointment : |
11.05.1973 |
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PAN No.: |
AABPJ7374B |
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DIN No.: |
00083721 |
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||||||||||||||||
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Name : |
Mr. Mukesh Kanayalal Shah |
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Designation : |
Director |
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Address : |
B-32 Floor No 31, Ahuja Towers,Rajabhai Desai Marg Off
Appa Saheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
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|
Date of Birth/Age : |
10.12.1949 |
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Qualification : |
Inter Science |
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|
Date of Appointment : |
07.01.2014 |
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PAN No.: |
AMOPS0510R |
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DIN No.: |
00085057 |
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|
||||||||||||||||
|
Name : |
Mr. Ameet Mugatlal Shah |
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Designation : |
Director |
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|
Address : |
550, Flat No 301, Mont Blanc, Jame Jamshed Road, Matunga
East, Mumbai-400019, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
26.03.1974 |
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Qualification : |
MBBS |
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|
Date of Appointment : |
07.01.2014 |
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PAN No.: |
ANRPS7768P |
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DIN No.: |
01711893 |
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|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Abhay R. Jasani |
3550 |
35.50 |
|
Shyam Abhay Jasani |
1495 |
14.95 |
|
Dia Man Exports Private Limited, India |
2450 |
24.50 |
|
Abhay Ratilal Jasani J/W Mridula Jasani |
1150 |
11.50 |
|
Mukesh K. Shah |
200 |
2.00 |
|
Abhay R. Jasani Partner of Jasani |
1155 |
11.55 |
|
|
|
|
|
Total |
10000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
75.50 |
|
Promoters – Body Corporate |
24.50 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject Deals in Sale of Polished, Rough diamonds and Studded Jewellery and also Manufacturing and Sale of Studded Jewellery along with Rough and Polished Diamonds. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Antwerp Diamond Bank N.V · Standard Chartered Bank · Yes Bank Limited · IndusInd Bank Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower Address, 211 Nariman Point, Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFR1878D |
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|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· Supreme Gems Private Limited, India [U36912MH1989PTC051827] · Jasani Diamond Private Limited · Elegant Collection · Abhay Jasani HUF |
|
|
|
|
Subsidiary Company : |
Jasani (HK) Limited |
CAPITAL STRUCTURE
AFTER: 29.09.2017
Authorised Capital : INR
13.000 Million
Issued, Subscribed & Paid-up Capital : INR 1.517 Million
AS ON: 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000 |
Equity Shares |
INR 100/- each |
INR 13.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 100/- each |
INR 1.000
Million |
|
|
|
|
|
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
INR 100/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 100/- each |
INR 1.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves and Surplus |
1685.570 |
1536.097 |
899.893 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.516 |
0.516 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1687.086 |
1537.613 |
900.893 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
620.000 |
620.000 |
300.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.215 |
8.628 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
620.000 |
623.215 |
308.628 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3477.811 |
2569.657 |
1595.301 |
|
(b) Trade payables |
982.778 |
856.342 |
403.094 |
|
(c) Other
current liabilities |
76.165 |
25.433 |
8.103 |
|
(d) Short-term
provisions |
90.682 |
65.986 |
50.378 |
|
Total Current
Liabilities (4) |
4627.436 |
3517.418 |
2056.876 |
|
|
|
|
|
|
TOTAL |
6934.522 |
5678.246 |
3266.397 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
146.772 |
120.908 |
101.241 |
|
(ii)
Intangible Assets |
2.519 |
0.899 |
0.110 |
|
(iii) Tangible assets capital
work-in-progress |
9.392 |
6.436 |
0.000 |
|
(iv)
Intangible assets under development |
2.142 |
2.142 |
0.000 |
|
(b) Non-current Investments |
16.863 |
16.863 |
10.435 |
|
(c) Deferred tax assets (net) |
0.581 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
5.753 |
5.698 |
0.801 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
184.022 |
152.946 |
112.587 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3900.221 |
3183.406 |
1796.575 |
|
(c) Trade
receivables |
2313.303 |
1881.204 |
1048.090 |
|
(d) Cash and
bank balances |
306.739 |
377.008 |
251.113 |
|
(e)
Short-term loans and advances |
218.572 |
73.728 |
56.253 |
|
(f) Other
current assets |
11.665 |
9.954 |
1.779 |
|
Total
Current Assets |
6750.500 |
5525.300 |
3153.810 |
|
|
|
|
|
|
TOTAL |
6934.522 |
5678.246 |
3266.397 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
12550.340 |
8562.375 |
4902.276 |
|
|
Other Income |
21.243 |
20.709 |
15.498 |
|
|
TOTAL |
12571.583 |
8583.084 |
4917.774 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
11360.409 |
7709.837 |
4694.292 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(780.123) |
(431.435) |
(463.590) |
|
|
Employee benefit expense |
149.968 |
79.248 |
26.562 |
|
|
CSR expenditure |
3.000 |
2.005 |
1.940 |
|
|
Other expenses |
1389.701 |
943.509 |
448.923 |
|
|
TOTAL |
12122.955 |
8303.164 |
4708.127 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
448.628 |
279.920 |
209.647 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
185.229 |
95.651 |
66.511 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
263.399 |
184.269 |
143.136 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.762 |
19.989 |
11.486 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
233.637 |
164.280 |
131.650 |
|
|
|
|
|
|
|
Less |
TAX |
82.524 |
56.492 |
45.345 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
151.113 |
107.788 |
86.305 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
7206.327 |
4938.507 |
3227.599 |
|
|
TOTAL EARNINGS |
7206.327 |
4938.507 |
3227.599 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7701.709 |
4568.487 |
3818.479 |
|
|
TOTAL IMPORTS |
7701.709 |
4568.487 |
3818.479 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9965 |
7108 |
8630 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(778.762) |
(1147.479) |
(657.153) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(866.338) |
(1201.195) |
(711.540) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
67.28 |
80.19 |
78.04 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.43 |
4.55 |
4.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
31.58 |
40.54 |
31.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.12 |
0.09 |
0.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.79 |
2.15 |
2.07 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.73 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.43 |
2.07 |
2.10 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.74 |
2.29 |
2.28 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.10 |
0.08 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.42 |
2.93 |
3.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.20 |
1.26 |
1.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.18 |
1.90 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.96 |
7.01 |
9.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.46 |
1.57 |
1.53 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.62 |
0.67 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.27 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4097.81 |
3189.66 |
1895.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.46 |
1.57 |
1.53 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
899.893 |
1536.097 |
1685.570 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.516 |
0.516 |
|
Net
worth |
900.893 |
1537.613 |
1687.086 |
|
|
|
|
|
|
Long-term borrowings |
300.000 |
620.000 |
620.000 |
|
Short term borrowings |
1595.301 |
2569.657 |
3477.811 |
|
Total
borrowings |
1895.301 |
3189.657 |
4097.811 |
|
Debt/Equity
ratio |
2.104 |
2.074 |
2.429 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4902.276 |
8562.375 |
12550.340 |
|
|
|
74.661 |
46.575 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4902.276 |
8562.375 |
12550.340 |
|
Profit/ (Loss) |
86.305 |
107.788 |
151.113 |
|
|
1.76
% |
1.26
% |
1.20
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.000 |
1.000 |
|
(b) Reserves and Surplus |
|
1685.619 |
1536.229 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.516 |
0.516 |
|
Total Shareholders’
Funds (1) + (2) |
|
1687.135 |
1537.745 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
620.000 |
620.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
3.215 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
620.000 |
623.215 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
3477.811 |
2569.657 |
|
(b) Trade
payables |
|
982.778 |
906.286 |
|
(c) Other
current liabilities |
|
76.165 |
25.432 |
|
(d) Short-term
provisions |
|
90.682 |
65.986 |
|
Total Current
Liabilities (4) |
|
4627.436 |
3567.361 |
|
|
|
|
|
|
TOTAL |
|
6934.571 |
5728.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
146.772 |
120.908 |
|
(ii)
Intangible Assets |
|
3.590 |
0.899 |
|
(iii) Tangible assets
capital work-in-progress |
|
9.392 |
6.436 |
|
(iv)
Intangible assets under development |
|
2.142 |
2.142 |
|
(b) Non-current Investments |
|
10.644 |
10.644 |
|
(c) Deferred tax assets (net) |
|
0.581 |
0.000 |
|
(d)
Long-term loans and advances |
|
5.753 |
5.698 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
178.874 |
146.727 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3900.221 |
3183.406 |
|
(c) Trade
receivables |
|
2313.364 |
1928.406 |
|
(d) Cash and
bank balances |
|
311.876 |
386.101 |
|
(e)
Short-term loans and advances |
|
218.572 |
73.728 |
|
(f) Other
current assets |
|
11.664 |
9.953 |
|
Total
Current Assets |
|
6755.697 |
5581.594 |
|
|
|
|
|
|
TOTAL |
|
6934.571 |
5728.321 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
12655.066 |
8622.028 |
|
|
Other Income |
|
21.243 |
20.709 |
|
|
TOTAL |
|
12676.309 |
8642.737 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
11360.409 |
7709.837 |
|
|
Purchases of
Stock-in-Trade |
|
104.202 |
44.615 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(780.123) |
(419.622) |
|
|
Employee benefit expense |
|
150.862 |
80.200 |
|
|
CSR expenditure |
|
3.000 |
2.005 |
|
|
Other expenses |
|
1390.385 |
944.373 |
|
|
TOTAL |
|
12228.735 |
8361.408 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
447.574 |
281.329 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
185.229 |
95.651 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
262.345 |
185.678 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
29.762 |
19.989 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
232.583 |
165.689 |
|
|
|
|
|
|
|
Less |
TAX |
|
82.524 |
56.492 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
150.059 |
109.197 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
9895.00 |
7201.00 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
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.
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G51446581 |
100118303 |
KOTAK MAHINDRA BANK LIMITED |
31/07/2017 |
- |
- |
350000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G48706196 |
10581381 |
YES BANK LIMITED |
28/04/2015 |
15/02/2017 |
- |
456000000.0 |
NEHRU CENTRE 9TH FLOOR DISCOVERY OF INDIADR ANNIE BESANT ROAD WORLIMUMBAIMH400018IN |
|
3 |
C65417743 |
10559454 |
INDUSIND BANK LTD. |
13/03/2015 |
24/07/2015 |
- |
85040000.0 |
ONE INDIABULLS CENTRE, 8TH FLOOR, TOWER 1,841, SENAPATI BAPAT MARG, ELPHINSTONE ROAD (W)MUMBAIMH400013IN |
|
4 |
C37451747 |
10537502 |
INDUSIND BANK LTD. |
30/10/2014 |
- |
- |
500000000.0 |
INDUSIND HOUSE, 425,DADASAHEB BHADKAMKAR MARG,MUMBAIMH400004IN |
|
5 |
B89349187 |
10447409 |
State Bank of India |
10/07/2012 |
07/10/2013 |
- |
102200000.0 |
Diamond Branch, D/3, West Core, 'G' Block,Bharat Diamond Bourse, B.K.C. Bandra (East)MumbaiMH400051IN |
|
6 |
G05280441 |
10097268 |
INDUSIND BANK LTD. |
11/12/2007 |
14/01/2016 |
- |
3000000000.0 |
INDUSIND HOUSE, 425,DADASAHEB BHADKAMKAR MARG,MUMBAIMH400004IN |
|
7 |
100059520 |
STATE BANK OF HYDERABAD |
12/08/2002 |
- |
- |
200000000.0 |
Overseas BranchMumbaiMH400039IN |
|
|
8 |
C63762090 |
80015961 |
INDUSIND BANK LTD. |
12/06/2001 |
24/07/2015 |
- |
450000000.0 |
ONE INDIABULLS CENTRE, 8TH FLOOR, TOWER 1,841, SENAPATI BAPAT MARG, ELPHINSTONE ROAD (W)MUMBAIMH400013IN |
|
9 |
G70647102 |
10554373 |
Standard Chartered Bank |
24/02/2015 |
- |
29/11/2017 |
38000000.0 |
Crescenzo, 3A/F, Plot no. C-38 & 39, G BlockBandra Kurla Complex, Bandra EastMumbaiMH400051IN |
|
10 |
G70644216 |
10288658 |
Standard Chartered Bank |
08/04/2011 |
02/05/2012 |
29/11/2017 |
380000000.0 |
Crescenzo, 3A/F, Plot no. C-38 & 39G Block, Bandra Kurla Complex, Bandra EastMumbaiMH400051IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
620.000 |
620.000 |
|
|
|
|
|
Total |
620.000 |
620.000 |
PERFORMANCE OF THE COMPANY:
In the given scenario of the market, the result achieved by the Company may be taken as satisfactory. The Company deals in Sale of Polished, Rough diamonds and Studded Jewellery business pursuant to Amalgamation. The Turnover of the Polished Diamonds, Rough Diamonds and Studded Jewellery has increased considerably as compared to the previous year.
AMALGAMATION and ARRANGEMENT
The Composite Scheme of Arrangement and Amalgamation ('the Scheme') among Dia-Man Exports Private Limited, Ratilal Becharlal Diamonds Private Limited, Ornate Gems Private Limited, Uni Gem India Private Limited, Jasani Jewellery Private Limited and Jasani Diamonds Private Limited and their respective Shareholders and creditors had been filed with the High Court of Judicature at Bombay under Scheme Petition No.651 to 656 (both inclusive) and Company Summons for Direction No. 495 to 500 (both inclusive) of 2016. Pursuant to the same, the said Scheme of Arrangement and Amalgamation had been approved by the Hon'ble High Court, Bombay vide its order dated 30thNovember, 2016 with effective Date is 1stDecember, 2016.
Pursuant to the said Scheme and the Resolutions passed at the Extra Ordinary meeting held dated 15thDecember, 2015, the Memorandum of Association of the Company was altered and amended and pursuant to Clause 7 of the Scheme, the name of the Company was changed to "JASANI INDIA PRIVATE LIMITED".
In terms of the Scheme, the assets and liabilities relatable to Rental of Industrial Galas (the demerged undertaking) has been transferred at values appearing in the books of accounts as on 1stApril, 2015. Accordingly, net assets of Rs.8,49,390/- were demerged and equivalent amount has been
appropriated against the General Reserve, pursuant to the said Court Order, 13,400 Shares are allotted in Jasani Diamonds Private Limited (JDPL)
to the shareholders of the Company.
In terms of the Scheme of Arrangement sanctioned by the Hon'ble High Court of Bombay, Jasani Jewellery Private Limited (JJPL) engaged in the business of diamond and jewellery and the Amalgamating Undertakings viz., Diaman Exports Private Limited (DMPL) engaged in the business of Purchase, Manufacturing and Sales of Gems and Jewellery, Ornate Gems Private Limited (OGPL) engaged in the business of manufacturing of jewellery and Ratilal Becharlal Diamonds Private Limited (RBDPL) engaged in the business of processing of diamonds have been Amalgamated with the Company.
The assets, liabilities, rights and obligations of Amalgamating undertakings have been vested with the Company with effect from 1stApril, 2015 (appointed date) and have been recorded at their respective book value as appearing in the books of the Amalgamating undertakings, under pooling of interest method of accounting for amalgamation.
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from 401-402,
Prasad Chambers, Opera House, Mumbai-400004, Maharashtra, India to the present
address w.e.f 07.01.2014
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 64.93 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.