|
|
|
MIRA INFORM REPORT
|
Report No. : |
504811 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRIO JEWELS PRIVATE LIMITED [w.e.f. 21.03.2018] |
|
|
|
|
Formerly Known
As : |
TACHE JEWELRY PRIVATE LIMITED [w.e.f. 27.12.2004] TACHE
JEWELLERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No-GJ-02, SEEPZ, SEEPZ SEZ, Andheri (East), Mumbai – 400096,
Maharashtra |
|
Tel. No.: |
91-22-67779999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
03.02.2003 |
|
|
|
|
Com. Reg. No.: |
11-138986 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 39.020 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2003PTC138986 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCT7791D1Z4 |
|
|
|
|
TIN No.: |
27500283786 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT7791D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Exporter of Studded Jewellery. [Registered Activity] |
|
|
|
|
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2003 and it is having satisfactory
track. For the financial year 2017, the company has marginal decreased in its revenue from operation as compared to previous year but maintained average profit margin of 4.19%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its long standing track records of business operations and comfortable liquidity position. However, rating strengths are partially offset by exposure to intense competition in the diamond and jewellery industry resulting in its profitability margins. Trade relations are reported as fair. Business is active. Payments are seems to be slow but correct. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 19.04.2018.
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 : |
Mr. Girish |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-67779999 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No-GJ-02, SEEPZ, SEEPZ SEZ, Andheri (East), Mumbai – 400096,
Maharashtra, India |
|
Tel. No.: |
91-22-67779999 |
|
Fax No.: |
91-22-67779950 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Amish Bipin Choksi |
|
Designation : |
Managing Director |
|
Address : |
43, Himgiri, 6th Floor, Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1964 |
|
Qualification : |
GCE
- A Level |
|
Date of Appointment : |
24.04.2007 |
|
PAN No.: |
AADPC2386A |
|
DIN No.: |
00043931 |
|
|
|
|
Name : |
Mr. Victor Henry Weinman |
|
Designation : |
Director |
|
Address : |
7 Bretton Ridge Road, Mount Kisco, New York - 10549, United States of America |
|
Date of Birth/Age : |
11.12.1946 |
|
Date of Appointment : |
26.04.2003 |
|
DIN No.: |
00558764 |
|
|
|
|
Name : |
Mr. Ashish Anit Choksi |
|
Designation : |
Director |
|
Address : |
Mozartstr 9, 55743, Idar Oberstein, 0, Germany |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
02117208 |
|
|
|
|
Name : |
Mr. Jacques Tache |
|
Designation : |
Director |
|
Address : |
34 Peter Benoitstraat 2018, Antwerpen, 0, Belgium |
|
Date of Birth/Age : |
16.06.1968 |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
02421425 |
|
|
|
|
Name : |
Mr. Andre Christian Giloy |
|
Designation : |
Director |
|
Address : |
Fichtenhof, 55743, Idar Oberstein, 0, Germany |
|
Date of Birth/Age : |
26.04.1965 |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
02459957 |
|
|
|
|
Name : |
Mr. Aashay Amish Choksi |
|
Designation : |
Director |
|
Address : |
43, Himgiri, 6th Floor, Opposite Jaslok Hospital, Pedder Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1992 |
|
Qualification : |
BSC |
|
Date of Appointment : |
06.07.2015 |
|
PAN No.: |
AQGPC2317Q |
|
DIN No.: |
07223156 |
KEY EXECUTIVES
|
Name : |
Mr. Girish |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Tache Investments S.A., Luxembourg |
1970300 |
50.50 |
|
C. G. International Private Limited, India |
1662700 |
42.61 |
|
Sea Gems Pte Limited, Singapore |
267720 |
6.86 |
|
Amish Bipin Choksi |
625 |
0.02 |
|
Aashay Amish Choksi |
625 |
0.02 |
|
|
|
|
|
Total |
3901970 |
100.00 |
AS ON 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
0.03 |
|
Promoters – Body Corporate |
42.61 |
|
Promoters – Others [Foreign Body Corporate] |
57.36 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Studded Jewellery. [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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||||
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Selling : |
Not Divulged |
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||||
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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 : |
· IndusInd Bank Limited One Indiabulls Centre, 8th Floor, Tower 1, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400013, Maharashtra, India |
||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
M.A.
Parikh and Company Chartered Accountants |
|
Address : |
206,
2nd Floor, Yusuf Building, 43, M G Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
PAN No : |
AAAFM1433H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Tache Investments, S.A., Luxembourg |
|
|
|
|
Subsidiary
Companies : |
· Vigoureux Joaillerie SA · Segue Engineering Private Limited, India [U74200MH2007PTC176024] |
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital : INR
120.000 Million
Issued, Subscribed & Paid-up Capital : INR 39.020 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3901970 |
Equity Shares |
INR 10/- each |
INR 39.020 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 |
39.020 |
39.018 |
39.018 |
|
(b) Reserves and Surplus |
404.022 |
357.205 |
303.155 |
|
(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) |
443.042 |
396.223 |
342.173 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.079 |
0.132 |
0.422 |
|
(b) Deferred tax liabilities (Net) |
27.259 |
16.532 |
16.172 |
|
(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) |
27.338 |
16.664 |
16.594 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
19.452 |
0.000 |
0.000 |
|
(b) Trade payables |
222.140 |
335.837 |
133.071 |
|
(c) Other current
liabilities |
3.481 |
4.663 |
3.954 |
|
(d) Short-term
provisions |
5.987 |
7.371 |
3.021 |
|
Total Current
Liabilities (4) |
251.060 |
347.871 |
140.046 |
|
|
|
|
|
|
TOTAL |
721.440 |
760.758 |
498.813 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
136.699 |
136.373 |
137.262 |
|
(ii) Intangible Assets |
1.160 |
0.997 |
0.180 |
|
(iii) Tangible assets capital
work-in-progress |
1.975 |
0.000 |
0.256 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.193 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
75.378 |
17.579 |
3.206 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
229.405 |
155.049 |
141.004 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.580 |
0.000 |
0.000 |
|
(b) Inventories |
137.427 |
128.863 |
72.585 |
|
(c) Trade receivables |
316.930 |
457.512 |
221.881 |
|
(d) Cash and
bank balances |
33.553 |
14.307 |
45.251 |
|
(e) Short-term loans
and advances |
2.636 |
4.256 |
17.780 |
|
(f) Other current assets |
0.909 |
0.771 |
0.312 |
|
Total Current Assets |
492.035 |
605.709 |
357.809 |
|
|
|
|
|
|
TOTAL |
721.440 |
760.758 |
498.813 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1146.400 |
1193.218 |
824.231 |
|
|
Other Income |
11.244 |
15.059 |
10.360 |
|
|
TOTAL |
1157.644 |
1208.277 |
834.591 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
917.412 |
968.129 |
646.404 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(12.818) |
(7.970) |
10.571 |
|
|
Employee benefit expense |
97.397 |
90.148 |
62.911 |
|
|
CSR expenditure |
0.695 |
0.112 |
0.000 |
|
|
Other expenses |
50.599 |
53.200 |
34.834 |
|
|
TOTAL |
1053.285 |
1103.619 |
754.720 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
104.359 |
104.658 |
79.871 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.639 |
0.279 |
0.233 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
103.720 |
104.379 |
79.638 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.231 |
11.545 |
10.465 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
91.489 |
92.834 |
69.173 |
|
|
|
|
|
|
|
Less |
TAX |
43.403 |
33.209 |
39.059 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
48.086 |
59.625 |
30.114 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1139.560 |
1189.287 |
817.075 |
|
|
Earnings on interest |
0.923 |
0.000 |
0.000 |
|
|
Earnings on other income |
3.529 |
0.502 |
4.685 |
|
|
TOTAL EARNINGS |
1144.012 |
1189.789 |
821.760 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
914.320 |
1017.912 |
629.609 |
|
|
Components and spare
parts |
10.406 |
6.645 |
5.404 |
|
|
Capital Goods |
9.780 |
6.014 |
13.017 |
|
|
TOTAL IMPORTS |
934.505 |
1030.571 |
648.030 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.32 |
15.28 |
7.72 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.053 |
0.290 |
1.201 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
125.406 |
12.144 |
57.510 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
89.319 |
(19.959) |
36.851 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
100.91 |
139.95 |
98.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.62 |
2.61 |
3.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
88.38 |
126.62 |
75.14 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.76 |
0.81 |
1.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.75 |
0.76 |
0.58 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.46 |
0.28 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.57 |
0.88 |
0.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.32 |
0.35 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
163.32 |
375.12 |
342.79 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.19 |
5.00 |
3.65 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.67 |
7.84 |
6.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.85 |
15.05 |
8.80 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.96 |
1.74 |
2.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.41 |
1.37 |
2.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.61 |
0.52 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.50 |
0.01 |
0.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.96 |
1.74 |
2.55 |
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 |
39.018 |
39.018 |
39.020 |
|
Reserves & Surplus |
303.155 |
357.205 |
404.022 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
342.173 |
396.223 |
443.042 |
|
|
|
|
|
|
Long-term borrowings |
0.422 |
0.129 |
0.078 |
|
Short term borrowings |
0.000 |
0.000 |
19.452 |
|
Current maturities of
long-term debts |
1.201 |
0.290 |
0.053 |
|
Total
borrowings |
1.623 |
0.419 |
19.583 |
|
Debt/Equity
ratio |
0.005 |
0.001 |
0.044 |
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 |
824.231 |
1193.218 |
1146.400 |
|
|
|
44.767 |
(3.924) |
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 |
824.231 |
1193.218 |
1146.400 |
|
Profit/ (Loss) |
30.114 |
59.625 |
48.086 |
|
|
3.65
% |
5.00
% |
4.19
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
39.020 |
39.018 |
|
(b) Reserves and Surplus |
|
323.666 |
356.224 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
362.686 |
395.242 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
100.979 |
0.132 |
|
(b) Deferred tax liabilities (Net) |
|
27.744 |
16.994 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
128.723 |
17.126 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
25.402 |
0.000 |
|
(b) Trade
payables |
|
264.593 |
335.857 |
|
(c) Other
current liabilities |
|
8.341 |
5.048 |
|
(d) Short-term
provisions |
|
13.815 |
7.371 |
|
Total Current
Liabilities (4) |
|
312.151 |
348.276 |
|
|
|
|
|
|
TOTAL |
|
803.560 |
760.644 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
147.699 |
144.268 |
|
(ii)
Intangible Assets |
|
2.979 |
0.996 |
|
(iii) Tangible assets
capital work-in-progress |
|
1.975 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.020 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
7.408 |
6.980 |
|
(e) Other
Non-current assets |
|
98.714 |
1.813 |
|
Total Non-Current
Assets |
|
258.795 |
154.057 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.580 |
0.000 |
|
(b)
Inventories |
|
206.711 |
128.966 |
|
(c) Trade
receivables |
|
290.885 |
457.512 |
|
(d) Cash and
bank balances |
|
35.189 |
15.675 |
|
(e)
Short-term loans and advances |
|
11.400 |
4.430 |
|
(f) Other
current assets |
|
0.000 |
0.004 |
|
Total
Current Assets |
|
544.765 |
606.587 |
|
|
|
|
|
|
TOTAL |
|
803.560 |
760.644 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1268.842 |
1193.218 |
|
|
Other Income |
|
16.446 |
15.897 |
|
|
TOTAL |
|
1285.288 |
1209.115 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
979.558 |
968.129 |
|
|
Purchases of
Stock-in-Trade |
|
0.891 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(22.892) |
(7.970) |
|
|
Employee benefit expense |
|
160.637 |
90.167 |
|
|
Other expenses |
|
117.003 |
53.724 |
|
|
TOTAL |
|
1235.197 |
1104.050 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
50.091 |
105.065 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
3.281 |
0.279 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
46.810 |
104.786 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
33.612 |
12.699 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
13.198 |
92.087 |
|
|
|
|
|
|
|
Less |
TAX |
|
46.239 |
33.290 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(33.041) |
58.797 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(8.47) |
15.07 |
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 |
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 |
No |
|
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.
CORPORATE INFORMATION
The Company, during the year ended 31st March, 2005, had set-up an industrial undertaking at Special Economic Zone, Mumbai for manufacture and export of studded jewellery.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Company earned revenue of INR 1146.400 Million (previous year INR 1193.200 Million) during the year. In spite of slowdown in the economy and revolution in taxation laws, the Company managed to maintain the business. The other income mainly comprised of Interest (INR 1.876 Million) and Foreign Exchange Fluctuations gain (INR 9.318 Million). The directors are optimistic about the growth in revenue and profitability during current financial year.
On consolidation basis, the Company earned revenue of INR 1285.200 Million (previous year INR 1209.100 Million) and made loss of INR 33.000 Million (previous year profit of INR 58.800 Million) A subsidiary Company, Segue Engineering Private Limited, not earned any revenue from business operation during the year. It has earned revenue of INR 2.280 Million from renting of office premises. Another foreign wholly owned subsidiary company, Vigoureux Joaollerie SA, earned revenue of INR 171.100 Million and made profit /(loss) of INR (60.200) Million crores during the year.
During the year company has utilised INR 11.643 Million (Previous year INR 8.891 Million) towards purchase of new plant and machinery and accordingly, an equivalent amount has been transferred to Special Economic Zone Re-investment Allowance Utilised Reserve Account.
AMALGAMATION:
The Scheme of Amalgamation (the Scheme) of TCG Jewelry Pvt. Ltd. (Transferor Company) with the company (Transferee Company) has been sanctioned by the Hon’ble National Company Law Tribunal Vide its order dated 13th April, 2017 with effect from 01st April, 2015, being the appointed date. The Scheme became effective on filing the said order with the Registrar of companies, which has been taken on record on 17th July 2017. Accordingly, the transferor company has been amalgamated with the company with effect from 1st April, 2015, being the appointed date.
FIXED ASSETS
Tangible Assets
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
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 65.68 |
|
UK Pound |
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
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.