|
|
|
MIRA
INFORM REPORT
|
Report No. : |
490843 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HVK
INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
FC 9020, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91- 22-66449999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
06.01.2011 |
|
|
|
|
Com. Reg. No.: |
11-211918 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 997.874 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51398MH2011PTC211918 |
|
|
|
|
IEC No.: |
0392075521 |
|
|
|
|
GSTIN: |
27AACCH5731N1ZA |
|
|
|
|
TIN No: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH5731N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Polished Diamonds. Importer of rough
diamonds. (Registered Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
2500 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 2011 and it is a manufacturer and
export of diamonds. It also imports rough diamonds. As per Registrar of Companies, the date of filling its financials is
shown as 31.03.2017 but documents related to the FY 2017 are not available
from any other sources. As per available financials of March 2016, the company has registered
decline in it revenue and has reported low profit margin. Rating takes into consideration the company’s sound net worth base along
with average debt coverage indicators and decent liquidity position. Rating also takes into account
the company’s established market position in the diamond industry supported
by its promoter’s extensive experience and established relationship with
customers. However, rating strength is
partially offset by large working capital requirement and exposure to intense
competition. Payments seem 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 Rating (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.05.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.05.2017 |
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 09.02.2018
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. Vishal Gohil |
|
Designation : |
Assistant Manager Accountant |
|
Contact No.: |
91-22-40233900 |
|
Date : |
08.02.2018 |
LOCATIONS
|
Registered Office : |
FC 9020, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91- 22-66449999/ 40233903 |
|
Fax No.: |
91-22-66449988 /40233900 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
3000 sq. ft. |
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Admin Office: |
801, “B” Wing, Laxmi Tower, Bharat Diamond Bourse, Bandra Kurla
Complex, Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91- 22-62314403 |
|
Location: |
Leased |
|
|
|
|
Factory : |
Plot No.314, SY No.435, Behind Patel Faliya, Katar Gam Road, Surat –
395004, Gujarat, India |
|
Location : |
Owned |
|
Locality : |
Residential |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dineshchandra Dhayalal Koradia |
|
Designation : |
Director |
|
Address : |
Flat No. 203, 2nd Floor, Divyalok Co-Operative Hosing Society, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
06.01.2011 |
|
PAN No.: |
ACUPK3696A |
|
DIN No.: |
00109934 |
|
|
|
|
Name : |
Mr. Nagjibhai Mohanbhai Sakariya |
|
Designation : |
Director |
|
Address : |
9, Dayanand Society, Behind Navyug College, Rander Road, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
01.04.1960 |
|
Date of Appointment : |
06.01.2011 |
|
PAN No.: |
ABEPP7995G |
|
DIN No.: |
00109980 |
|
|
|
|
Name : |
Mr. Sunny Nagjibhai Sakariya |
|
Designation : |
Director |
|
Address : |
502, Kripanidhi Association, JVPD Scheme, Gulmohar X Road No.4, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1983 |
|
Date of Appointment : |
06.01.2011 |
|
PAN No.: |
BBTPS4006B |
|
DIN No.: |
01029758 |
|
|
|
|
Name : |
Mr. Hareshbhai Mohanbhai Sakariya |
|
Designation : |
Director |
|
Address : |
502, Kripanidhi Association, JVPD Scheme, Gulmohar X Road No.4, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1962 |
|
Date of Appointment : |
06.01.2011 |
|
PAN No.: |
ALLPS9142H |
|
DIN No.: |
01308305 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Gohil |
|
Designation : |
Assistant Manager Accountant |
|
|
|
|
Name : |
Mrs. Arti Kabra |
|
Designation : |
Company Secretary |
|
Address : |
Off: D/1-11, Vishram Yog, Borivali (West), Mumbai – 400091,
Maharashtra, India |
|
Contact No.: |
91-9920867495 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Hareshbhai M. Sakariya |
|
37486214 |
|
Dinesh Chandra D. Koradia |
|
19976957 |
|
Nagjibhai M. Sakariya |
|
35069214 |
|
Sunny N. Sakariya |
|
1435375 |
|
Odhavjibhai M. Sakariya |
|
1435375 |
|
Kanchanben H. Sakariya |
|
717690 |
|
Meenaben Nagjibhai Sakariya |
|
717690 |
|
Niruben D. Koradia |
|
717690 |
|
Leo Diam Fzc |
|
2231234 |
|
Total |
|
99787439 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
97.76 |
|
Public/Other than Promoters (Body Corporate) |
2.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer and Exporter of Polished Diamonds. Importer of rough
diamonds. (Registered Activity and also Confirmed by management) |
||||
|
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|
||||
|
Products : |
|
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|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Polished Diamond |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Rough Diamond |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, L/C, Cheque and Credit (30/60/90 Days) |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment, L/C, Cheque and Credit (30/60/90 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesaler, Retailer and Manufacturer
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
2500 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
B. N. Vaidya and Associates Chartered Accountants |
|
Address : |
Ground 4th Floor, Vaidya Bhavan, 92, Atmaram Merchant Road, 2, Anant Wadi, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22087849 |
|
Email: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABPV1195N |
|
Membership No.: |
039808 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their
relatives |
|
|
|
|
|
Other Related Party: |
|
|
|
|
|
Subsidiary company: |
|
|
|
|
|
Sub Subsidiary
company: |
|
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 10/- each |
INR 1000.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99787439 |
Equity Shares |
INR 10/- each |
INR 997.874
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
997.874 |
997.874 |
956.965 |
|
(b) Reserves & Surplus |
2009.044 |
1973.209 |
1807.634 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
90.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3006.918 |
2971.083 |
2854.599 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.368 |
28.400 |
18.482 |
|
(b) Deferred tax liabilities (Net) |
12.104 |
26.636 |
37.855 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
22.576 |
17.682 |
9.975 |
|
Total Non-current
Liabilities (3) |
70.048 |
72.718 |
66.312 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3914.290 |
4340.471 |
4344.624 |
|
(b) Trade
payables |
2550.329 |
1770.073 |
2794.650 |
|
(c) Other
current liabilities |
21.894 |
20.708 |
23.767 |
|
(d) Short-term
provisions |
34.266 |
93.313 |
172.000 |
|
Total Current
Liabilities (4) |
6520.779 |
6224.565 |
7335.041 |
|
|
|
|
|
|
TOTAL |
9597.745 |
9268.366 |
10255.952 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
697.314 |
759.367 |
808.061 |
|
(ii)
Intangible Assets |
1.658 |
2.180 |
1.831 |
|
(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 |
71.268 |
79.541 |
79.541 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
80.193 |
80.816 |
65.849 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
54.131 |
|
Total Non-Current
Assets |
850.433 |
921.904 |
1009.413 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3580.172 |
3789.293 |
4369.521 |
|
(c) Trade
receivables |
4744.198 |
4210.607 |
4350.869 |
|
(d) Cash
and cash equivalents |
233.516 |
220.796 |
255.066 |
|
(e)
Short-term loans and advances |
187.979 |
124.110 |
269.381 |
|
(f) Other
current assets |
1.447 |
1.656 |
1.702 |
|
Total
Current Assets |
8747.312 |
8346.462 |
9246.539 |
|
|
|
|
|
|
TOTAL |
9597.745 |
9268.366 |
10255.952 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
10532.505 |
12837.050 |
14574.846 |
|
|
Other Income |
167.856 |
205.167 |
(63.124) |
|
|
TOTAL |
10700.361 |
13042.217 |
14511.722 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7740.427 |
9332.601 |
10502.436 |
|
|
Purchases of Stock-in-Trade |
29.464 |
33.374 |
111.834 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
302.632 |
(80.304) |
(368.596) |
|
|
Employees benefits expense |
483.203 |
425.816 |
377.106 |
|
|
Other expenses |
1599.091 |
2629.065 |
2969.911 |
|
|
TOTAL
|
10154.817 |
12340.552 |
13592.691 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
545.544 |
701.665 |
919.031 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
363.239 |
376.221 |
299.230 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
182.305 |
325.444 |
619.801 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
86.457 |
96.937 |
71.461 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
95.848 |
228.507 |
548.340 |
|
|
|
|
|
|
|
Less |
TAX |
43.669 |
93.781 |
164.519 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
52.179 |
134.726 |
383.821 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
865.961 |
731.235 |
347.414 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
918.140 |
865.961 |
731.235 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9125.171 |
11382.629 |
12965.378 |
|
|
Sales of foreign investment |
15.804 |
0.000 |
0.000 |
|
|
TOTAL
EARNINGS |
9140.975 |
11382.629 |
12965.378 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7356.565 |
8176.024 |
10870.596 |
|
|
Components and Stores parts |
4.725 |
4.717 |
8.457 |
|
|
Capital Goods |
26.697 |
25.832 |
56.761 |
|
|
TOTAL
IMPORTS |
7387.987 |
8206.573 |
10935.814 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.52 |
1.36 |
4.27 |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
12100.000 |
Expected Sales (2017-2018): INR 10530.000.000 Million
The above information has been parted by Mr. Vishal Gohil (Assistant
Manager Account)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flow from (used in) Operations |
859.852 |
486.366 |
548.340 |
|
Net cash flows from (used in) operating activities |
816.183 |
392.585 |
548.340 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
164.41 |
119.72 |
108.96 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.22 |
3.05 |
3.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
119.80 |
68.98 |
96.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.15 |
0.19 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.78 |
0.92 |
1.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.68 |
0.67 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.31 |
1.47 |
1.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.17 |
2.10 |
2.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.23 |
0.26 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.50 |
1.87 |
3.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.50 |
1.05 |
2.63 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.54 |
1.45 |
3.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.74 |
4.53 |
13.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.34 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.79 |
0.73 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.31 |
0.32 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.96 |
4.38 |
4.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.34 |
1.26 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
956.965 |
997.874 |
997.874 |
|
Reserves & Surplus |
1807.634 |
1973.209 |
2009.044 |
|
Share Application money
pending allotment |
90.000 |
0.000 |
0.000 |
|
Net worth |
2854.599 |
2971.083 |
3006.918 |
|
|
|
|
|
|
Long-term borrowings |
18.482 |
28.400 |
35.368 |
|
Short term borrowings |
4344.624 |
4340.471 |
3914.290 |
|
Total borrowings |
4363.106 |
4368.871 |
3949.658 |
|
Debt/Equity ratio |
1.528 |
1.470 |
1.314 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
14574.846 |
12837.050 |
10532.505 |
|
|
|
(11.923) |
(17.952) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
14574.846 |
12837.050 |
10532.505 |
|
Profit/ (Loss) |
383.821 |
134.726 |
52.179 |
|
|
2.63% |
1.05% |
0.50% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
997.874 |
997.874 |
|
(b) Reserves &
Surplus |
|
2701.592 |
2438.272 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Minority Interest |
|
199.689 |
180.395 |
|
Total Shareholders’ Funds
(1) + (2) |
|
3899.155 |
3616.541 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
60.098 |
52.491 |
|
(b) Deferred tax
liabilities (Net) |
|
12.104 |
26.636 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
22.576 |
17.682 |
|
Total Non-current
Liabilities (3) |
|
94.778 |
96.809 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4587.217 |
5068.415 |
|
(b) Trade payables |
|
2756.034 |
5334.872 |
|
(c) Other current
liabilities |
|
150.066 |
124.379 |
|
(d) Short-term provisions |
|
31.747 |
93.314 |
|
Total Current Liabilities
(4) |
|
7525.064 |
10620.980 |
|
|
|
|
|
|
TOTAL |
|
11518.997 |
14334.330 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
752.074 |
814.184 |
|
(ii) Intangible Assets |
|
1.658 |
2.180 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
71.268 |
79.541 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
77.464 |
87.278 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
902.464 |
983.183 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3736.404 |
4091.049 |
|
(c) Trade receivables |
|
6208.647 |
8595.294 |
|
(d) Cash and cash
equivalents |
|
278.035 |
347.851 |
|
(e) Short-term loans and
advances |
|
191.141 |
314.803 |
|
(f) Other current assets |
|
202.306 |
2.150 |
|
Total Current Assets |
|
10616.533 |
13351.147 |
|
|
|
|
|
|
TOTAL |
|
11518.997 |
14334.330 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
16752.968 |
19159.132 |
|
|
Other Income |
|
183.196 |
277.173 |
|
|
TOTAL |
|
16936.164 |
19436.305 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
5796.853 |
7424.959 |
|
|
Purchases of
Stock-in-Trade |
|
7709.921 |
7775.322 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
502.005 |
92.698 |
|
|
Employees benefits
expense |
|
503.770 |
463.449 |
|
|
Other expenses |
|
1653.398 |
2728.591 |
|
|
TOTAL |
|
16165.947 |
18485.019 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
770.217 |
951.286 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
405.557 |
407.511 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
364.660 |
543.775 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
91.770 |
101.779 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
272.890 |
441.996 |
|
|
|
|
|
|
|
Less |
TAX |
|
41.141 |
101.036 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX BEFORE MINORITY INTEREST |
|
231.749 |
340.960 |
|
|
|
|
|
|
|
Add |
MINORITY INTEREST |
|
(2.637) |
(12.969) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX AFTER MINORITY INTEREST |
|
229.112 |
327.991 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.29 |
1.36 |
LEGAL CASES
LITIGATION
|
CASE DETAILS BENCH: BOMBAY Presentation Date: 08/02/2017 LODGING NO.: SJL/15/2017
FILING DATE: 08/02/2017 REG. NO.: SJ/15/2017 REG. DATE: 08/02/2017 MAIN MATTER LODGING NO.: COMSL/99/2016
REG. DATE: COMS/210/2016
Act: CODE OF
CIVIL PROCEDURE 1908 |
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 |
Yes |
|
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 |
-- |
|
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 |
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 |
Yes |
|
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.
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR In Million) |
31.03.2015 (INR In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
35.368 |
28.400 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
10.552 |
9.098 |
|
|
|
|
|
Total |
45.920 |
37.498 |
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C45081593 |
10268250 |
Bank of India |
06/01/2011 |
02/12/2014 |
- |
4760000000.0 |
Opera House Branch, Hermes House,Mama Parmanand Marg,Opera House,MumbaiMH400004IN |
|
2 |
C71853899 |
10461857 |
ANDHRA BANK |
31/10/2013 |
- |
30/11/2015 |
250000000.0 |
9/15 MAMA PARAMANAND MARG,QUEEN'S ROAD,MUMBAIMH400004IN |
|
3 |
C10165850 |
10311781 |
Bank of India |
04/10/2011 |
- |
03/07/2014 |
219000000.0 |
Opera House Branch, Hermes House,Mama Parmanand Marg, Opera House,MumbaiMH400004IN |
|
4 |
C08926313 |
10310644 |
ANDHRA BANK |
16/09/2011 |
- |
25/06/2014 |
40000000.0 |
OPERA HOUSE BRANCH,9/15, MAMA PARAMANAND,MARG, QUEEN'S ROAD, OPERA HOUSE,MUMBAIMH400004IN |
|
5 |
B90394842 |
10378209 |
STATE BANK OF INDIA |
10/09/2012 |
- |
12/11/2013 |
613500000.0 |
DIAMOND BRANCH, D/3, WEST CORE, G BLOCK,BHARAT DIAMOND BOURSE, B. K. C. BANDRA (EAST)MUMBAIMH400051IN |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2016 |
|
Corporate Guarantee given by company to Bank of India, Belgium on behalf of its subsidiary H.V. DIAM BVBA, (Belgium) as at 31st March, 2016 |
331.275 |
|
Corporate Guarantee given by company to State Bank of India, Belgium on behalf of its subsidiary H.V. DIAM BVBA, (Belgium) as at 31st March, 2016 |
397.530 |
FIXED ASSETS:
- Land – Freehold
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Computer
- Office Equipment
- Windmills
- Computer Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against whom
a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.