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|
|
MIRA INFORM REPORT
|
Report No. : |
504149 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PC JEWELLER LIMITED |
|
|
|
|
Registered
Office : |
C – 54, Preet Vihar, Vikas Marg, Delhi-110092 |
|
Tel. No.: |
91-11-49714971 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
13.04.2005 |
|
|
|
|
Com. Reg. No.: |
55-134929 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1791.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36911DL2005PLC134929 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
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TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing, Selling and Trading of Gold Jewellery, Diamond Studded Jewellery and Silver Items. [Registered Activity] |
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|
|
|
No. of Employees
: |
2504 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 96193700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Pc Jeweller Limited was incorporated in the year 2005. The Company is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond studded jewellery and silver items. The company has a pan India operations with 93 showrooms across 73 cities and 20 states. As per the financial of 2017, the company has achieved a fair growth of 12.06% in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 5.31%. The rating takes into consideration the strong financial position backed by robust net worth base along with low debt balance sheet profile and favourable liquidity position. Rating is constrained on account of working-capital-intensive because of large inventory required to be maintained by the company across its stores and intense competition from organized and unorganized players in the industry. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 Loans=A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
10.08.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans=A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
10.08.2017 |
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 17.04.2018.
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 BY
|
Name : |
Ms. Lata |
|
Designation : |
Office Executive |
|
Contact No.: |
91-11-47104810 |
|
Date : |
14.04.2018 |
LOCATIONS
|
Registered/ Corporate Office : |
C – 54, Preet Vihar, Vikas Marg, Delhi-110092, India |
|
Tel. No.: |
91-11-49714971 |
|
Fax No.: |
91-11-49714972 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant Location : |
1. Plot No. 65, Noida Special Economic Zone, Noida, Uttar Pradesh, India 2. 142A/3, Noida Special Economic Zone, Noida, Uttar Pradesh, India 3. J - 59, Sector - 63, Noida, Uttar Pradesh, India 4. F - 50, Selaqui Industrial Area, Dehradun, Uttarakhand, India 5. First Floor, Plot No. 65, Noida Special Economic Zone,
Noida, Uttar Pradesh, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Balram Garg |
|
Designation : |
Managing Director |
|
Address : |
1c, Court Road, Civil Lines, Delhi-110054, India |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
B. Com. |
|
Experience : |
28 Years |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
00032083 |
|
|
|
|
Name : |
Mr. Padam Chand Gupta |
|
Designation : |
Director |
|
Address : |
1c, Court Road, Civil Lines, Delhi-110054, India |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
00032794 |
|
|
|
|
Name : |
Mr. Krishan Kumar Khurana |
|
Designation : |
Director |
|
Address : |
A-33,Nizamuddin East, New Delhi-110013, India |
|
Date of Appointment : |
20.09.2011 |
|
DIN No.: |
00253589 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Sharma |
|
Designation : |
Wholetime Director |
|
Address : |
G - 74, Swaran Appartment, Pitampur, Delhi-110034, India |
|
Date of Appointment : |
07.02.2014 |
|
DIN No.: |
01980542 |
|
|
|
|
Name : |
Mr. Miyar Ramanath Nayak |
|
Designation : |
Director |
|
Address : |
1106B, Tower I,Brigade Palm Spring,24th Main Road,
Puttenahalli, J.P. Nagar, 7th Phase, Bangalore-560078, Karnataka, India |
|
Date of Appointment : |
07.02.2014 |
|
DIN No.: |
03352749 |
|
|
|
|
Name : |
Mr. Manohar Lal Singla |
|
Designation : |
Director |
|
Address : |
23/4, Cavalry Lines, Delhi University Campus,
Delhi-110007, India |
|
Date of Appointment : |
20.09.2011 |
|
DIN No.: |
03625700 |
|
|
|
|
Name : |
Mr. Suresh Kumar Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 201-202 Tower D Ashoka Tower, Dr S S Rao Road,
Parel, Mumbai-400012, Maharashtra, India |
|
Date of Appointment : |
19.09.2015 |
|
DIN No.: |
05103064 |
|
|
|
|
Name : |
Mr. Sannovanda Machaiah Swathi |
|
Designation : |
Additional Director |
|
Address : |
Soverign No 469, 4th Cross, 1st Phase Vijaynagar 4th
Stage, Mysuru-570017, Karnataka, India |
|
Date of Appointment : |
19.01.2018 |
|
DIN No.: |
06952954 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Bhatia |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
169, Vaishali, Pitampura, Delhi-110034, India |
|
Date of Appointment : |
22.05.2014 |
|
PAN No.: |
AAAPB1445Q |
|
|
|
|
Name : |
Mr. Vijay Panwar |
|
Designation : |
Company Secretary |
|
Address : |
H.No.124, Raj Nagar, New Delhi-110029, India |
|
Date of Appointment : |
21.01.2008 |
|
PAN No.: |
ANGPP5195G |
|
|
|
|
Name : |
Ms. Lata |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
237570300 |
60.24 |
|
Public |
156784900 |
39.76 |
|
|
|
|
|
Total |
394355200 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category
of shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
23,75,70,300 |
60.24 |
|
|
BALRAM GARG |
13,39,52,100 |
33.97 |
|
|
PADAM CHAND GUPTA |
10,07,43,600 |
25.55 |
|
|
PADAM CHAND GUPTA HUF |
21,70,200 |
0.55 |
|
|
POOJA GARG |
6,20,400 |
0.16 |
|
|
BALRAM GARG HUF |
84,000 |
0.02 |
|
|
Sub Total A1 |
23,75,70,300 |
60.24 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
23,75,70,300 |
60.24 |
|
Statement showing shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
2217000 |
0.56 |
|
|
Foreign
Portfolio Investors |
123116094 |
31.22 |
|
|
IDRIA LIMITED |
18151436 |
4.60 |
|
|
STICHTING DEPOSITARY APG EMERGING MARKETS
EQUITY POOL |
7507997 |
1.90 |
|
|
FIDELITY MAGELLAN FUND - FIDELITY MAGELLAN
FUND |
6664057 |
1.69 |
|
|
SWEDBANK ROBUR GLOBAL EMERGING MARKETS |
4575191 |
1.16 |
|
|
MAWER GLOBAL SMALL CAP FUND |
4090455 |
1.04 |
|
|
Financial
Institutions/ Banks |
8077749 |
2.05 |
|
|
LIFE INSURANCE CORPORATION OF INDIA |
7604468 |
1.93 |
|
|
Sub Total B1 |
133410843 |
33.83 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
9125066 |
2.31 |
|
|
Individual share
capital in excess of INR 0.200 Million |
4443587 |
1.13 |
|
|
NBFCs registered
with RBI |
17638 |
0.00 |
|
|
Any Other
(specify) |
9787766 |
2.48 |
|
|
Clearing Members |
1439492 |
0.37 |
|
|
Bodies Corporate |
7845101 |
1.99 |
|
|
Non-Resident Indian (NRI) |
502453 |
0.13 |
|
|
Trusts |
720 |
0.00 |
|
|
Sub Total B3 |
23374057 |
5.93 |
|
|
B=B1+B2+B3 |
156784900 |
39.76 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Selling and Trading of Gold Jewellery, Diamond Studded Jewellery and Silver Items. [Registered Activity] |
|
|
|
|
Products/ Services : |
· Gold Jewellery · Diamond Studded Jewellery ·
Silver Items |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
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No. of Employees : |
2504 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
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|
|
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|
Bankers : |
· Kotak Mahindra Bank Limited Kotak Aerocity, 1st Floor, Asset Area 9, IBIS Commercial Block, Delhi Aerocity, New Delhi-110037, India · Bank of India New Delhi Mid Corporate Branchpti Building, 4, Parliament Street, New Delhi-110001, India · IDFC Bank Limited KRM Tower, 7th Floor, No. 1,Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India · HDFC Bank Limited HDFC Bank House Senapati Bapat Marglower Parel W, Mumbai-400013, Maharashtra, India · Canara Bank Parliament Street Branch, Jeevan Bharati Building, New
Delhi-110001, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Statutory Auditors 1 : |
|
|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
|
Address : |
21st Floor, DLF Square Jacaranda Marg, DLF Phase II, Gurugram-122002,
Haryana, India |
|
Tel. No.: |
91-124-4628000 |
|
Fax No.: |
91-124-4628001 |
|
|
|
|
Statutory Auditors 2 : |
|
|
Name : |
Sharad Jain Associates Chartered Accountants |
|
|
|
|
Internal Auditors : |
VGJ and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
· PC Universal Private Limited* · Transforming Retail Private Limited * · Luxury Products Trendsetter Private Limited* · PC Jeweller Global DMCC* |
|
|
|
|
Other entities in which KMP has
significant influence** : |
· Padam Chand, Hindu Undivided Family · Balram Garg, Hindu Undivided Family |
.
CAPITAL STRUCTURE
AFTER: 08.09.2017
Authorised Capital : INR
7000.000 Million
Issued, Subscribed & Paid-up Capital : INR 3943.552 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
240000000 |
Equity Shares |
INR 10/- each |
INR 2400.000 Million |
|
260000000 |
Preference Shares |
INR 10/- each |
INR 2600.000 Million |
|
|
Total |
|
INR 5000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
179137600 |
Equity Shares |
INR 10/- each |
INR 1791.400
Million |
|
|
|
|
|
b) Terms and
rights attached to equity shares
The Company has
only one class of equity shares having a par value of INR 10 each. Each holder
of equity shares is entitled to one vote per share. The Company declares and
pays dividends in Indian Rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting. In the event of liquidation of the Company, holders of equity
shares will be entitled to receive any of the remaining assets of the Company,
after distribution of all preferential payments.
The distribution
will be in proportion to the number of equity shares held by the equity
shareholders.
Terms and rights
attached to preference shares
Each CCPS has a
par value of INR 10 and would be converted into equity shares of the Company
within 12 months from the date of issuance. The conversion shall happen at the
price of INR 382.54 per share. As such, the preference shares will get
converted into 6,728,000 equity shares of the Company. The preference
shareholders shall receive a mandatory dividend of 13% per annum, which shall
be paid on 30 September, for each preceding financial year. The voting rights
of the investors holding CCPS shall be in accordance with the provisions of
Section 47 of the Companies Act, 2013 (including any statutory amendments
thereto or reenactments thereof for the time being in force). The preference
shares will rank ahead of equity shares in case of liquidation.
c) S hares reserved
for issue under options
(i) 2,679,330
equity shares are reserved for the issue under the Employees’ stock option plan
of the Company. Information relating to Employees’ stock option plan, including
details of options issued, exercised and lapsed during the financial year and
options outstanding at the end of the reporting period, is set out in note 36.
(ii) Company has
issued compulsorily convertible debentures (‘CCD’) in the current financial
year. The conversion shall happen at the price of INR 380 per share. As such,
the debentures will get converted into 11,236,800 equity shares of the Company
within 18 months from the date of issuance.
d) Details of shareholders holding more than 5% of the shares of the
Company*
|
Particular |
As at 31 March, 2017 |
|
|
|
Number of shares |
% of holding |
|
Equity Shares of INR 10 each |
|
|
|
Balram Garg |
66976050 |
37.39% |
|
Padam Chand Gupta |
50371800 |
28.12% |
|
Idria Limited |
9075718 |
5.07% |
|
Total |
126423568 |
70.58% |
*As per the records of the Company, including its register of shareholders/members and other declarations, if any, received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
e) The Company has not issued any shares pursuant to contract without payment being received in cash, or allotted as fully paid up by way of bonus shares or bought back any shares during the period of five years immediately preceding the date of balance sheet.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1791.400 |
1791.000 |
1791.000 |
|
(b) Reserves & Surplus |
31876.400 |
22310.500 |
18112.800 |
|
(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) |
33667.800 |
24101.500 |
19903.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
577.000 |
582.300 |
4.100 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
61.500 |
43.100 |
28.700 |
|
Total
Non-current Liabilities (3) |
638.500 |
625.400 |
32.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6339.700 |
8818.900 |
6809.700 |
|
(b)
Trade payables |
28069.700 |
21615.400 |
18093.700 |
|
(c)
Other current liabilities |
3446.300 |
2202.400 |
496.200 |
|
(d)
Short-term provisions |
8.800 |
5.100 |
1778.900 |
|
Total
Current Liabilities (4) |
37864.500 |
32641.800 |
27178.500 |
|
|
|
|
|
|
TOTAL |
72170.800 |
57368.700 |
47115.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
836.700 |
898.800 |
895.800 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1339.300 |
0.700 |
0.600 |
|
(c) Deferred tax assets (net) |
295.100 |
108.100 |
125.200 |
|
(d) Long-term Loan
and Advances |
3057.500 |
1404.400 |
840.300 |
|
(e)
Other Non-current assets |
341.400 |
301.400 |
32.800 |
|
Total
Non-Current Assets |
5870.000 |
2713.400 |
1894.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
94.000 |
81.000 |
131.200 |
|
(b)
Inventories |
41186.400 |
38660.600 |
32298.500 |
|
(c)
Trade receivables |
12744.000 |
9082.200 |
7675.300 |
|
(d)
Cash and cash equivalents |
9316.500 |
2912.600 |
2741.100 |
|
(e)
Short-term loans and advances |
227.300 |
11.000 |
2287.600 |
|
(f)
Other current assets |
2732.600 |
3907.900 |
86.700 |
|
Total
Current Assets |
66300.800 |
54655.300 |
45220.400 |
|
|
|
|
|
|
TOTAL |
72170.800 |
57368.700 |
47115.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
81045.800 |
72321.000 |
63485.200 |
|
|
|
Other Income |
1091.500 |
507.200 |
591.900 |
|
|
|
TOTAL |
82137.300 |
72828.200 |
64077.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
72208.800 |
66144.800 |
64053.800 |
|
|
|
Purchases of Stock-in-Trade |
1887.600 |
40.400 |
29.600 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3372.800) |
(4019.900) |
(10260.100) |
|
|
|
Employees benefits expense |
786.000 |
707.000 |
555.500 |
|
|
|
Other expenses |
1945.100 |
1918.900 |
1866.200 |
|
|
|
Excise Duty |
51.400 |
0.000 |
0.000 |
|
|
|
TOTAL |
73506.100 |
64791.200 |
56245.000 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8631.200 |
8037.000 |
7832.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2747.100 |
2446.500 |
2208.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5884.100 |
5590.500 |
5623.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
220.100 |
226.100 |
230.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5664.000 |
5364.400 |
5393.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1358.700 |
1371.300 |
1610.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4305.300 |
3993.100 |
3782.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export value of goods |
|
20929.400 |
18098.200 |
|
|
|
Other income |
|
10.800 |
11.700 |
|
|
TOTAL EARNINGS |
NA |
20940.200 |
18109.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
19564.800 |
10960.800 |
|
|
|
Capital Goods |
|
5.600 |
12.600 |
|
|
TOTAL IMPORTS |
NA |
19570.400 |
10973.400 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
24.05 |
22.32 |
21.12 |
|
|
|
Diluted
|
22.61 |
22.28 |
21.12 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
430.800 |
302.600 |
4.800 |
|
|
|
|
|
|
Cash generated from operating activities |
10200.900 |
2097.900 |
4630.400 |
|
|
|
|
|
|
Net cash generated from operating activities |
8386.000 |
703.700 |
3341.500 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
21185.400 |
26223.200 |
26448.900 |
|
Total Expenditure |
18853.300 |
23438.000 |
23759.900 |
|
PBIDT (Excl OI) |
2332.100 |
2785.200 |
2689.000 |
|
Other Income |
214.900 |
206.600 |
455.300 |
|
Operating Profit |
2547.000 |
2991.800 |
3144.300 |
|
Interest |
596.400 |
764.400 |
815.600 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1950.600 |
2227.400 |
2328.700 |
|
Depreciation |
49.200 |
49.100 |
52.600 |
|
Profit Before Tax |
1901.400 |
2178.300 |
2276.100 |
|
Tax |
543.200 |
672.400 |
649.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1358.200 |
1505.900 |
1627.100 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1358.200 |
1505.900 |
1627.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
57.39 |
45.84 |
44.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.36 |
7.96 |
8.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
138.27 |
119.21 |
103.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.21 |
0.21 |
0.24 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
10.32 |
8.94 |
8.74 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.58 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.22 |
0.40 |
0.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.12 |
1.35 |
1.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.02 |
0.04 |
0.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.14 |
3.29 |
3.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.31 |
5.52 |
5.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.97 |
6.96 |
8.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.79 |
16.57 |
19.00 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.75 |
1.67 |
1.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.49 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.42 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.10 |
5.42 |
3.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.75 |
1.67 |
1.66 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 303.50/- |
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 |
1791.000 |
1791.000 |
1791.400 |
|
Reserves & Surplus |
18112.800 |
22310.500 |
31876.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
19903.800 |
24101.500 |
33667.800 |
|
|
|
|
|
|
long-term borrowings |
4.100 |
582.300 |
577.000 |
|
Short term borrowings |
6809.700 |
8818.900 |
6339.700 |
|
Current Maturities of Long
term debt |
4.800 |
302.600 |
430.800 |
|
Total
borrowings |
6818.600 |
9703.800 |
7347.500 |
|
Debt/Equity
ratio |
0.343 |
0.403 |
0.218 |
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 |
63485.200 |
72321.000 |
81045.800 |
|
|
|
13.918 |
12.064 |
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 |
63485.200 |
72321.000 |
81045.800 |
|
Profit |
3782.300 |
3993.100 |
4305.300 |
|
|
5.96% |
5.52% |
5.31% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
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 |
-- |
|
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 |
G83233817 |
100167581 |
KOTAK MAHINDRA BANK LIMITED |
26/03/2018 |
- |
- |
4000000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G83644179 |
100168608 |
IDFC BANK LIMITED |
30/12/2017 |
- |
- |
300000000.0 |
KRM Tower, 7th Floor, No. 1,Harrington Road, Chetpet,ChennaiTa600031IN |
|
3 |
G74373796 |
100148774 |
KOTAK MAHINDRA BANK LIMITED |
26/12/2017 |
- |
- |
500000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9,IBIS Commercial Block, Delhi Aerocity,New DelhiDL110037IN |
|
4 |
G74521493 |
100149196 |
Bank of India |
22/12/2017 |
- |
- |
6000000.0 |
New Delhi Mid Corporate BranchPTI Building, 4,Parliament StreetNew DelhiDL110001IN |
|
5 |
G72221237 |
100143334 |
Canara Bank |
01/12/2017 |
- |
- |
2950000.0 |
Parliament StreetNew DelhiDL110001IN |
|
6 |
G55923510 |
100126945 |
HDFC BANK LIMITED |
13/09/2017 |
- |
- |
600000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
7 |
G47047782 |
100105865 |
Canara Bank |
02/06/2017 |
- |
- |
5300000.0 |
Parliament Street Branch, Jeevan Bharati BuildingNew DelhiDL110001IN |
|
8 |
G47554589 |
100107315 |
Union Bank of India |
06/05/2017 |
- |
- |
5500000.0 |
10184, Arya Samaj Road, Karol BaghNew DelhiDL110005IN |
|
9 |
G35097922 |
100075873 |
State Bank of India |
26/12/2016 |
- |
- |
3125000.0 |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN1, TOLSTOY MARGNEW DELHIDL110001IN |
|
10 |
G36682656 |
100079218 |
KOTAK MAHINDRA BANK LIMITED |
28/11/2016 |
- |
- |
1000000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9,IBIS Commercial Block, Delhi Aerocity,New DelhiDL110037IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Liability component of compulsorily convertible preference shares |
303.200 |
0.000 |
|
Liability component of compulsorily convertible debentures |
497.100 |
0.000 |
|
Less: Current maturities of long term borrowings |
(1111.100) |
(302.600) |
|
|
|
|
|
Total |
(310.800) |
(302.600) |
CORPORATE
INFORMATION
NATURE OF
OPERATIONS
PC Jeweller Limited (the ‘Company’) was incorporated on 13 April 2005. The Company is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond studded jewellery and silver items. The Company’s shares are listed on the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange (BSE).
BUSINESS OVERVIEW
The Company is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond studded jewellery and silver items and operates in different geographical areas i.e. domestic sales and export sales. Your Company continues to move ahead on its well defined growth path of (1) showroom expansion; (2) launching new designs and collections; and (3) strengthening in-house designing and manufacturing capabilities.
The Company continues to focus on expanding its retail presence across more and more cities of the Country and has opened 15 new showrooms during the year. The Company has total 75 showrooms as on March 31, 2017. After end of the year, the Company has opened 4 more new showrooms and as on the date of this report, the Company is having total 79 showrooms located across 62 cities in India. Out of the 79 showrooms 6 are franchisee and rest are the Company owned. In addition to the network of showrooms, the Company is also having 5 manufacturing facilities for meeting its in-house requirements.
During the year the Company launched many new jewellery designs and collections like ‘Inayat’ wedding jewellery, Abhigyaan Shakuntalam, Twirlyz etc. The Company also launched additional ranges of Flexia, its unique detachable jewellery collection.
MANAGEMENT DISCUSSION
& ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The Gems & Jewellery (“G & J”) sector is one of the very important sectors of the Indian economy with a significant share of the Gross Domestic Product (“GDP”). One of the fastest growing sectors, it is extremely export oriented and labour intensive. The Indian G & J sector is a big forex earner for India and currently contributes 10-12% of total exports. Since 2004, it has earned over USD 369 billion (INR 19,024 billion) of foreign exchange.
G & J export revenue is estimated at ~ USD 40 billion, of which ~ 55% is from cut & polished/rough diamonds and the balance from jewellery/coins & medallions. India has established itself as the world’s largest manufacturing center of cut & polished diamonds, contributing 60% of the world’s supply in terms of value, 85% in terms of volume and 92% in terms of pieces.
India is also one of the largest gold jewellery exporters in the world. In FY 16, Indian gold jewellery shipments were to the tune of ~ USD 9 billion, with around 50% going to UAE, which is India’s largest jewellery export destination.
The domestic jewellery segment has two major characteristics; (i) it is highly fragmented and continues to be dominated by a very large number of small players, the majority of whom are unorganized and outside the regulatory norms; (ii) a very large percentage of jewellery (almost 70% according to some reports) which gets sold in the country is on account of weddings and wedding related functions. In addition to this traditional and steady state of jewellery demand, the jewellery demand is also increasing steadily due to changes in its role from just being an item of adornment and as a store of value to a life style and fashion accessory.
Rising quality awareness of customers has provided a fillip to the organized retail segment, which is banking on its ‘reliability’ and ‘quality’ to compete against the highly fragmented unorganized jewellers. Organized players have steadily chipped away market share from smaller/ unorganized retailers by addressing the need for enhanced experience of a demanding customer base, which is marked by shifting demographic and socio-economic profiles
Jewellery consumption in India has been traditionally driven by the strong cultural affinity for gold, with it being the preferred form of jewellery worn. Gold jewellery is an integral part of weddings in India, and is considered as a necessity, with wedding related demand accounting for substantial portion of overall jewellery demand, especially in the South. Jewellery demand has also been supported by the increasing appetite for gold jewellery from rural and non-urban markets. Gold has also served as a means of savings especially for the rural sector, owing to the lack of any major alternative investment options supported by its anti-inflationary characteristics. However, in the past few years the demand for diamond jewellery has also been showing an increasing trend, especially in the Metros and Tier I cities.
PRODUCT WISE
PERFORMANCE
The Company is a single product entity, viz jewellery and is engaged in the business of manufacturing, sale and trading of jewellery. However, jewellery is further classified into gold jewellery, diamond jewellery and others. The Company operates in two different geographical areas i.e. domestic sales and export sales. For the year ended March 31, 2017, the share of revenues from domestic and export sales is Rs.5,338 crores (66%) and Rs.2,766 crores (34%) respectively
OUTLOOK
At the domestic level, the organised retailers are expected to fare well, mainly due to the ongoing structural changes together with strong macro-demographic trends. Regulatory changes introduced by the Government of India over last few years are likely to increase the preference towards branded jewellery and shift the scales in favour of organised sector at the cost of the unorganised sector. These changes include regulations such as introduction and reversal of 80:20 ruling on gold imports, introduction and reversal of abolition of gold on lease scheme, introduction of gold monetisation, increase in customs duty to 10%, mandatory PAN card requirement on transactions of above Rs.2 lakh, obligatory hallmarking, levy of 1% excise duty. All these measures would shift the preference towards organised jewellers at the cost of unorganised jewellers. The onset of GST is only expected to hasten the shift from the unorganised players.
According to the World Gold Council (“WGC”), India’s gold jewellery demand fell to a seven year low in 2016-17 to 522 MT. This was on account of various events such as nationwide jewellers strike in fourth quarter of F.Y.2016 and severe liquidity crunch due to demonetisation in third quarter of F.Y. 2017. However, these events had a limited impact and have not affected the underlying factors pushing the jewellery demand in the country. We believe that the underlying theme for the jewellery demand remains robust, given India’s demographics and the consumer’s affinity towards gold for both wedding related purchases and as store of value. Similarly the diamond and light weight jewellery is also gaining in popularity as more women join the work force.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED 31.12.2017
[INR
IN MILLION]
|
Sr. No. |
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Revenue
from Operations |
26448.900 |
26223.200 |
73857.500 |
|
2. |
Other
Income |
455.300 |
206.600 |
876.800 |
|
3. |
Total Income from Operations |
26904.200 |
26429.800 |
74734.300 |
|
|
|
|
|
|
|
4. |
Expenses |
|
|
|
|
|
Cost
of materials consumed |
30319.500 |
24868.900 |
70766.200 |
|
|
Purchase
of traded goods |
113.200 |
2578.400 |
3055.300 |
|
|
Changes
in inventories of finished goods, work-in-progress
and traded goods |
(7678.900) |
(4720.600) |
(10215.200) |
|
|
Excise
Duty |
--- |
--- |
34.700 |
|
|
Employee
benefits expense |
227.700 |
222.800 |
662.400 |
|
|
Finance
Cost |
815.600 |
764.400 |
2176.400 |
|
|
Depreciation
and amortisation expense |
52.600 |
49.100 |
150.900 |
|
|
Other
expenses |
778.400 |
488.500 |
1747.800 |
|
|
Total Expenses |
24628.100 |
24251.500 |
68378.500 |
|
|
|
|
|
|
|
5. |
Profit
before tax |
2276.100 |
2178.300 |
6355.800 |
|
6. |
Tax
expense |
|
|
|
|
|
Current
Tax |
642.000 |
624.800 |
1757.800 |
|
|
Deferred
Tax |
7.000 |
47.600 |
106.800 |
|
|
Total Tax |
649.000 |
672.400 |
1864.600 |
|
7. |
Profit for the Period |
1627.100 |
1505.900 |
4491.200 |
|
8. |
Other Comprehensive Income |
|
|
|
|
|
Items
that will not be reclassified to profit or loss |
--- |
--- |
--- |
|
|
Income
tax relating to items that will not be reclassified to profit or loss |
--- |
--- |
--- |
|
9. |
Total Comprehensive Income for the
Period |
1627.100 |
1505.900 |
4491.200 |
|
10. |
Earnings Per Share (EPS)
[of INR 10/- each] |
|
|
|
|
|
Basic |
4.13 |
4.02 |
11.96 |
|
|
Diluted |
4.13 |
3.94 |
11.74 |
SEGMENTWISE REVENUE, RESULT, ASSETS AND LIABILITIES FOR THE QUARTER AND
NINE MONTHS ENDED 31.12.2017
|
Sr. No. |
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
Net Sales/ Revenue from Operations |
|
|
|
|
|
Export |
8802.600 |
7713.600 |
23876.100 |
|
|
Domestic |
17646.300 |
18509.600 |
49981.400 |
|
|
Net Sales/
Income |
26448.900 |
26223.200 |
73857.500 |
|
|
|
|
|
|
|
2. |
Segment Results |
|
|
|
|
|
Profit before and interest from each segment |
|
|
|
|
|
Export |
761.700 |
732.900 |
1910.500 |
|
|
Domestic |
2374.200 |
2197.500 |
6630.400 |
|
|
Total |
3135.900 |
2930.400 |
8540.900 |
|
|
Less: |
|
|
|
|
|
Finance Costs |
752.600 |
735.100 |
2084.100 |
|
|
Unallocable Income/ Expenses |
107.200 |
17.000 |
101.000 |
|
|
Profit/ [Loss]
before Tax |
2276.100 |
2178.300 |
6355.800 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
Export |
22449.400 |
17811.700 |
22449.400 |
|
|
Domestic |
60668.300 |
55807.000 |
60668.300 |
|
|
Unallocated |
3444.600 |
3341.600 |
3444.600 |
|
|
Total Segment
Assets |
86562.300 |
76960.300 |
86562.300 |
|
|
|
|
|
|
|
4. |
Segment
Liabilities |
|
|
|
|
|
Export |
19486.700 |
16613.800 |
19486.700 |
|
|
Domestic |
27633.200 |
22449.300 |
27633.200 |
|
|
Unallocated |
1383.300 |
1476.600 |
1383.300 |
|
|
Total Segment
Liabilities |
48503.200 |
40539.700 |
48503.200 |
NOTES:
1. The standalone financials results of PC Jeweller Limited ('PCJ' or 'Company') for the quarter ended 31 December 2017 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 19 January 2018.
2. The above results have been prepared in accordance with the Indian
Accounting Standards ('Ind-AS') as notified under the Companies (Indian
Accounting Standards) Rules, 2015, amended by the Companies (Indian Accounting
Standard) Amendment Rules, 2016, specified under section 133 of the Companies
Act, 2013.
3. The Company is engaged in the business of manufacture and sale of gold
jewellery, diamond studded jewellery and silver articles of various
designs/specifications. The Company's manufacturing facilities are located in
India. Segment level information as per Ind AS 108 'Operating Segments' is
provided for the different geographical areas i.e. within and outside India
represented by domestic and exports respectively, in line with the review of
operating results by the chief operating decision maker.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the Company not acknowledged as debts*# |
9.700 |
5.500 |
|
Demand from the income-tax authorities |
62.600 |
10.100 |
|
Demands from the sales tax authorities against which appeals have been filed# |
85.300 |
0.000 |
|
Corporate guarantee for loan taken by wholly owned subsidiary company, PC Universal Private Limited** |
0.000 |
0.000 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for |
6.400 |
13.200 |
|
Total |
164.000 |
28.800 |
|
Notes: *Excluding interest which is not ascertainable **Guarantees provided to the lender of the wholly owned subsidiary company were for availing banking facilities for business purpose. These guarantees were revoked in FY 2015-16. #Company has furnished bank guarantees amounting to INR 79.200 Million for ongoing litigations. |
||
FIXED ASSETS:
Tangible Assets
· Freehold Land
·
Buildings
·
Plant and Equipment
· Leasehold Improvements
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
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 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 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
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 |
YES |
|
--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.