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|
MIRA INFORM REPORT
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Report No. : |
505115 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
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Name : |
K. GIRDHARLAL INTERNATIONAL PRIVATE LIMITED (w.e.f. 24.09.2015) |
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Formerly Known
As : |
K. GIRDHRLAL INTERNATIONAL LIMITED (w.e.f. 13.03.2008) K. GIRDHARLAL INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
1011, Prasad Chamber, Opera House, Mumbai-400004, Maharashtra |
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Tel. No.: |
91-22-22369107 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
10.06.2005 |
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Com. Reg. No.: |
11-153898 |
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Capital
Investment / Paid-up Capital : |
INR 136.851
Million |
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|
|
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CIN No.: [Company Identification
No.] |
U36910MH2005PTC153898 |
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IEC No.: [Import-Export Code No.] |
0388039183 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCK6101F1ZY |
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TIN No.: |
Not Divulged |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCK6101F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Exporter of Diamonds, Precious and Semi-Precious Stones, Synthetic Stones, Jewellery, Studded Gold Jewellery, Plain Gold Jewellery, etc. [Registered Activity and also Confirmed by Management] |
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|
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No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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 2005 and it is having good track. For the financial year 2017, the company has increased its revenue from operations as compared to previous year but maintained average profit margin of 1.96%. 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 along with experienced of promoters and improvement in the revenue as well as profitability profile during the year. However, rating strength is partially offset by exposure to volatile diamond prices along with foreign exchange rate fluctuations and intense competition in the diamond and jewellery industry. Trade relations are reported as fair. Business is active. Payments are seems to be slow but correct. In view of 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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating=A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
06.11.2017 |
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 25.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Manoj Sharma |
|
Designation : |
Chief Finance Officer |
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Contact No.: |
91-22-23621003 |
|
Date : |
23.04.2018 |
LOCATIONS
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Registered Office : |
1011, Prasad Chamber, Opera House, Mumbai-400004, Maharashtra, India |
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Tel. No.: |
91-22-22369107/ 23631513/ 23684872/ 23637896/ 236/ 28250074 |
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Fax No.: |
91-22-23633027 |
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E-Mail : |
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Website: |
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Location : |
Owned |
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Locality : |
Commercial |
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|
|
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Factory / Sales Office 1: |
6th Floor, K.G. House, Umiya Chowk, A.K. Road, Surat-395008, Gujarat, India |
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Tel. No.: |
91-261-256 0001 |
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Fax No.: |
91-261-256 0002 |
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E-Mail : |
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Sales Office 2: |
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Tel. No.: |
91-22-23821513 / 43113333 |
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Fax No.: |
91-22-2362 0737 |
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Sales Office 3: |
551, 5th Avenue, 32nd Floor, New York, NY-10176,
United States |
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Tel. No.: |
1-212-6444500 |
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E-Mail : |
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Sales Office 4: |
Aspeco NV, 1st Floor, Schupstraat 21, 2018 Antwerp, Belgium |
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Tel. No.: |
32-3-4011000 |
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E-Mail : |
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Sales Office 5: |
K.Giridharlal DMCC, PO BOX NO.44753, Almas Tower 41-h, Jumeirah Lakes
Towers, Sheikh Zayed Road, Dubai, United Arab Emirates |
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Tel. No.: |
971-4-4574265 |
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Fax No.: |
971-4-4574266 |
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E-Mail : |
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Sales Office 6: |
K. Giridharlal (HK) Limited, Room No.916, 9/F, Peninsula Square, 18
Sung On Street, Kowloon, Hong Kong |
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Tel. No.: |
852-231-16551 |
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E-Mail : |
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Sales Office 7: |
BLH – KG Room A606, China Diamond Exchange Center,1701 Century Avenue,
Pudong New Area, Shanghai - 200122- China |
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Tel No.: |
86-21-50470197 |
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E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Kishore Girdharlal Shah |
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Designation : |
Whole time Director |
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Address : |
62 B, Embassy Apartments Nepeansea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
01.05.1941 |
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Date of Appointment : |
10.06.2005 |
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PAN No.: |
AADPS3385D |
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DIN No.: |
00200309 |
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Name : |
Mr. Paragkumar Kishorbhai Shah |
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Designation : |
Whole time Director |
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Address : |
B-62, Floor-6th, 46, Embassy Apartment, Laxmibai Jagmohandas Marg, Nepean Sea Road, August Kranti Marg, Mumbai – 400036, Maharashtra, India |
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Date of Birth/Age : |
17.02.1968 |
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Date of Appointment : |
10.06.2005 |
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PAN No.: |
AADPS3386A |
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DIN No.: |
00016400 |
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|
|
|
Name : |
Mr. Pintu Vinnodkumar Shah |
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Designation : |
Director |
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Address : |
247, Sai Kripa Building, 1st Floor, Walkeshwar Road, Mumbai-40006, India |
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Date of Birth/Age : |
29.04.1974 |
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Date of Appointment : |
10.06.2005 |
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PAN No.: |
AAIPS6255M |
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DIN No.: |
00149119 |
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|
|
|
Name : |
Mr. Piyush Vinodbhai Shah |
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Designation : |
Director |
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Address : |
247, Bhaswan Building Walkeshwar Road, Mumbai-400006, Maharashtra,
India |
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Date of Birth/Age : |
01.04.1979 |
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Date of Appointment : |
02.11.2009 |
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PAN No.: |
AHQPS0434B |
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DIN No.: |
00087175 |
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|
|
|
Name : |
Mr. Rashmikant Natwarlal Shah |
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Designation : |
Wholetime Director |
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Address : |
81-B, Embassy Appartment, 46, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
11.09.1964 |
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Date of Appointment : |
10.06.2005 |
|
DIN No.: |
00708523 |
|
Qualification |
B.com |
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PAN No.: |
AAGPS6655P |
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|
|
|
Name : |
Mr. Yogesh Natwarlal Shah |
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Designation : |
Wholetime Director |
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Address : |
29-30, Samaysaar Bunglow, Opposite S.M.C. Garden, Near Nandini-3, V.I.P. Road, Vesu, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
09.10.1967 |
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Date of Appointment : |
10.06.2005 |
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PAN No.: |
AAGPS6652L |
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DIN No.: |
00087231 |
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|
|
|
Name : |
Mr. Vinod Gautamlal Shah |
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Designation : |
Director |
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Address : |
2, Bhaswan Building, 247, Walkeshwar Road, Banganga, Mumbai-400006,
Maharashtra, India |
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Date of Birth/Age : |
09.06.1950 |
|
Date of Appointment : |
01.04.2010 |
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PAN No.: |
AAGPS6793L |
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DIN No.: |
03175185 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Sharma |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Yogesh N Shah |
|
2866952 |
|
Rashmi N Shah |
|
2332363 |
|
Brill Diam Co. Limited |
|
2009700 |
|
Parag K Shah |
|
1900316 |
|
Kishore G Shah |
|
1524303 |
|
Natwarlal M Shah |
|
1508496 |
|
Pintu V Shah |
|
1010537 |
|
Vinod G Shah |
|
532433 |
|
|
|
|
|
Total |
|
13685100 |
|
Names of Shareholders [4%
Non-Cumulative Redeemable Preference Shares] |
|
No. of Shares |
|
Kishore G Shah |
|
14850000 |
|
Parag K Shah |
|
13513500 |
|
Vinod G Shah |
|
5098500 |
|
Rashmi N Shah |
|
16780500 |
|
Dinesh M Shah |
|
12177000 |
|
Yogesh N Shah |
|
16780500 |
|
Pintu V Shah |
|
9900000 |
|
Piyush V Shah |
|
9900000 |
|
Total |
|
99000000 |
|
Names of Shareholders [6%
Non-Cumulative Redeemable Preference Shares] |
|
No. of Shares |
|
Natwarlal M Shah |
|
26410000 |
|
Brill Diam Co. Limited |
|
22131176 |
|
|
|
|
|
Total |
|
48541176 |
|
Names of Shareholders [6%
Non-Cumulative Optionally Convertible Redeemable Preference Shares] |
|
No. of Shares |
|
K.G. Exports |
|
5000000 |
|
|
|
|
|
Total |
|
5000000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
85.31 |
|
Public/Other than promoters - Body Corporate |
14.69 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Diamonds, Precious and Semi-Precious Stones, Synthetic Stones, Jewellery, Studded Gold Jewellery, Plain Gold Jewellery, etc. [Registered Activity and also Confirmed by Management] |
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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 : |
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Products : |
Finished Goods |
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Countries : |
· Belgium · USA · Dubai · Israel |
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Imports : |
|
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Products : |
· Diamonds · Precious and Semi-Precious Stones ·
Studded Gold Jewellery |
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Countries : |
· Belgium · Dubai · New Zealand |
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Terms : |
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Selling : |
Cash, Cheque and Credit [30 Days] |
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Purchasing : |
Cash, Cheque and Credit [30 Days] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler, Retailers and End Users
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No. of Employees : |
2500 (Approximately) |
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Bankers : |
· The Royal Bank of Scotland N. V (Acting as Lead Bank) 4, North Avenue, Level 3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India · ABN AMRO Bank N.V., Sakhar Bhavan, Nariman Point, Mumbai-400021, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
P Y S and Company LLP Chartered Accountants |
|
Address : |
No 777 D, New B Ridge Business Centre, Opp New Horizon School 100 Ft Road, Indiranagar, Bengaluru-560008, Karnataka, India |
|
PAN No.: |
ABQFS9124A |
|
|
|
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Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Subsidiaries (Enterprises where control
exists) : |
· K. Girdharlal Diamonds (India) Private Limited · K. Girdharlal (Hong Kong) Limited · KGS Jewels Inc. (Previously known as K.Girdharlal Inc.) (Up to 1 April 2016) · Sparkle Diam Private Limited · M/s. N. M. Shah & Bros. (Partnership firm) (Up to 29 September 2016) · Facets Gems Polishing Works Private Limited · Vardhaman Infrastructure Private Limited · Aspeco N.V. (Up to 31 March 2016) · K. Girdharlal DMCC, UAE · BLH - KG Diamonds (China) Co Limited (Up to 30 March 2016 ) · Add Value Properties Pvt. Ltd. (Up to 29 September 2016) |
|
|
|
|
Enterprise in which key management
personnel have significant influence : |
N. M. Shah & Bros. (Partnership firm) (With effect from 30 September 2016) |
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital: INR
2370.000 Million
Issued, Subscribed & Paid-up Capital: INR 136.851
Million
AS ON: 29.09.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
27000000 |
Equity Shares |
INR 10/- each |
INR 270.000 Million |
|
99000000 |
4% Non-Cumulative Redeemable Preference Share |
INR 10/- each |
INR 990.000 Million |
|
49500000 |
6% Non-Cumulative Redeemable Preference Share |
INR 10/- each |
INR 495.000 Million |
|
5000000 |
6% Non-Cumulative Optionally Convertible Redeemable Preference share |
INR 100/- each |
INR 500.000 Million |
|
|
TOTAL
|
|
INR 2255.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
Equity Shares |
INR 10/- each |
INR 136.851 Million |
|
|
99000000 |
4%
Non-Cumulative Redeemable Preference Share |
INR 10/- each |
INR 990.000
Million |
|
48541176 |
6% Non-Cumulative Redeemable Preference Share |
INR 10/- each |
INR 485.412
Million |
|
5000000 |
6% Non-Cumulative Optionally Convertible Redeemable Preference share |
INR 100/- each |
INR 500.000
Million |
|
|
TOTAL |
|
INR 2112.263 Million |
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
INR 10/- each |
INR 270.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13685100 |
Equity Shares |
INR 10/-
each |
INR 136.851
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 |
136.851 |
136.851 |
2112.263 |
|
(b) Reserves & Surplus |
5244.653 |
4009.617 |
2889.219 |
|
(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) |
5381.504 |
4146.468 |
5001.482 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
846.595 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
151.317 |
215.325 |
0.000 |
|
(c)
Other long term liabilities |
44.141 |
12.349 |
0.000 |
|
(d)
long-term provisions |
12.568 |
9.814 |
8.182 |
|
Total
Non-current Liabilities (3) |
208.026 |
1084.083 |
8.182 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4175.334 |
3173.262 |
4197.341 |
|
(b)
Trade payables |
4761.242 |
4424.612 |
3576.722 |
|
(c)
Other current liabilities |
15.563 |
42.600 |
11.442 |
|
(d)
Short-term provisions |
2.560 |
1.051 |
6.381 |
|
Total
Current Liabilities (4) |
8954.699 |
7641.525 |
7791.886 |
|
|
|
|
|
|
TOTAL |
14544.229 |
12872.076 |
12801.550 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
457.050 |
419.134 |
497.363 |
|
(ii)
Intangible Assets |
9.308 |
7.922 |
7.811 |
|
(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 |
1584.083 |
1665.053 |
1645.246 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
9.960 |
|
(d) Long-term Loan
and Advances |
0.696 |
3.769 |
107.245 |
|
(e)
Other Non-current assets |
67.373 |
37.998 |
0.000 |
|
Total
Non-Current Assets |
2118.510 |
2133.876 |
2267.625 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7084.858 |
6032.698 |
6707.145 |
|
(c)
Trade receivables |
5052.541 |
4373.080 |
3698.843 |
|
(d)
Cash and cash equivalents |
157.273 |
159.159 |
55.145 |
|
(e)
Short-term loans and advances |
2.236 |
0.084 |
52.125 |
|
(f)
Other current assets |
128.811 |
173.179 |
20.667 |
|
Total
Current Assets |
12425.719 |
10738.200 |
10533.925 |
|
|
|
|
|
|
TOTAL |
14544.229 |
12872.076 |
12801.550 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
18137.473 |
13751.740 |
13226.167 |
|
|
|
Other Income |
255.139 |
23.943 |
182.075 |
|
|
|
TOTAL |
18392.612 |
13775.683 |
13408.242 |
|
|
|
[Due to market
fluctuation] |
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
16020.874 |
9597.163 |
10112.464 |
|
|
|
Purchases of Stock-in-Trade |
2026.132 |
1389.879 |
1029.057 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1964.615) |
981.304 |
249.369 |
|
|
|
Employees benefits expense |
83.358 |
72.814 |
70.362 |
|
|
|
Other expenses |
1468.846 |
975.592 |
981.545 |
|
|
|
CSR Expenditure |
0.000 |
0.000 |
3.609 |
|
|
|
TOTAL |
17634.595 |
13016.752 |
12446.406 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
758.017 |
758.931 |
961.836 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
264.717 |
403.365 |
411.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
493.300 |
355.566 |
550.492 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
73.639 |
75.123 |
76.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
419.661 |
280.443 |
473.893 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
64.337 |
105.664 |
109.643 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
355.324 |
174.779 |
364.250 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB basis] |
NA |
11187.945 |
10304.088 |
|
|
TOTAL EARNINGS |
NA |
11187.945 |
10304.088 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
10123.470 |
10602.819 |
|
|
|
Stores & Spares |
|
0.000 |
2.200 |
|
|
|
Capital Goods |
|
7.404 |
57.477 |
|
|
TOTAL IMPORTS |
NA |
10130.874 |
10662.496 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
25.96 |
12.77 |
26.62 |
|
|
|
Diluted |
1.85 |
12.77 |
26.62 |
|
|
PARTICULARS |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
17900.000 |
|
|
|
|
|
Expected Sales (2018-2019): INR 19000.000 Million
The above information has been parted by Mr. Manoj Sharma [Chief Finance
Officer]
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 |
(919.846) |
1412.155 |
779.172 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(1091.274) |
1289.852 |
619.610 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
101.68 |
116.07 |
102.08 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.59 |
3.14 |
3.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
96.30 |
146.99 |
117.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.11 |
0.13 |
0.14 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.63 |
1.78 |
1.90 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.66 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.78 |
0.97 |
0.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.66 |
1.84 |
1.56 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.09 |
0.10 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.86 |
1.88 |
2.34 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.96 |
1.27 |
2.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.44 |
1.36 |
2.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.60 |
4.22 |
7.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.39 |
1.41 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.62 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.32 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
30.51 |
29.37 |
1.99 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.39 |
1.41 |
1.35 |
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 |
2112.263 |
136.851 |
136.851 |
|
Reserves & Surplus |
2889.219 |
4009.617 |
5244.653 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5001.482 |
4146.468 |
5381.504 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
846.595 |
0.000 |
|
Short term borrowings |
4197.341 |
3173.262 |
4175.334 |
|
Total
borrowings |
4197.341 |
4019.857 |
4175.334 |
|
Debt/Equity
ratio |
0.839 |
0.969 |
0.776 |
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 |
13226.167 |
13751.740 |
18137.473 |
|
|
|
3.974 |
31.892 |
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 |
13226.167 |
13751.740 |
18137.473 |
|
Profit |
364.250 |
174.779 |
355.324 |
|
|
2.75% |
1.27% |
1.96% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in February
2013. A senior executive of GJEPC said, “Export of cut and polished diamonds
started falling month-wise after the imposition of 2 % of import duty on the
polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C35312636 |
10500851 |
ING VYSYA BANK LIMITED |
29/03/2014 |
21/10/2014 |
- |
400000000.0 |
Ground Floor,G-34,Aderbad Building,Hughes RoadMumbaiMH400007IN |
|
2 |
G77310928 |
80005611 |
INDUSIND BANK LTD. |
14/02/2006 |
02/08/2017 |
- |
6500000000.0 |
No.C-2, West Core Area, Ground Floor, Tower No.3,G Block, Bandra Kurla Complex, BandraMumbaiMH400051IN |
|
3 |
A64799323 |
80054020 |
ABN AMRO BANK N.V. |
10/06/2005 |
- |
23/06/2009 |
4100000000.0 |
SAKHAR BHAVANNARIMAN POINTMUMBAIMH400021IN |
|
4 |
A64799463 |
80054021 |
ABN AMRO BANK N.V. |
10/06/2005 |
- |
23/06/2009 |
4400000000.0 |
SHAHKAR BHAVANNARIMAN POINTMUMBAIMH400021IN |
OPERATIONS
During the year, the Company earned total revenue of INR 18392.612 Million against a total revenue of INR 13775.683 Million. The Company has made net profit after tax amounting to INR 355.424 Million compared to the previous year’s net profit of INR 174.779 Million. The Directors of the Company are continuously looking out for avenues to increase the business of the Company.
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 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 66.36 |
|
UK Pound |
1 |
INR 92.51 |
|
Euro |
1 |
INR 81.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
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 |
YES |
|
--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.