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MIRA INFORM REPORT
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Report No. : |
490006 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
OPULENT DIAMONDS LLP |
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Registered
Office : |
6/2497, 2nd Floor, Office No.1 Balaji Sadan, Limbu Sheri, Mahidharpura, Surat – 395003, Gujarat |
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Mobile No.: |
91-9930145333 (Mr. Shambhu) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
18.03.2016 |
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LLPIN : |
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Total
Obligation of Contribution: |
INR 0.050 Million |
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IEC No.: |
5216908994 |
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TIN No. : |
24220902911 |
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GSTIN : |
24AAEFO7728D1ZD |
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PAN No.: [Permanent Account No.] |
AAEFO7728D |
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Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Manufacturer, Processor, Trader and Exporter of Diamonds. (Registered Activity
and also confirmed by management) (Manufacturing done through job work) |
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No. of Employees
: |
04 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a limited liability partnership concern established in the March, 2016. It is a trader, processor and exporter of Diamonds and manufacture ring done through Job Work. For the financial year 2017, the concern has earned revenue of 235.800 along with low profit margin of 0.02%. Moderate financial profile of the company is marked modest capital base. Rating is constrained on account of limited track record of the company. However, rating weakness is partially offset by strong debt coverage indicators due to debt free balance sheet profile. Payments seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings with some caution. Note: Site visit was conducted at the given address and our executive successfully traced the subject on the given address but the door was found locked. Due to unavailability of contact details site visit was conducted. During the site visit our executive met Mr. Vishnu Bhai (Landlord) who confirmed that subject is situated on the given address and also provided contacted details of Mr. Sambhubhai i.e (09930145333). As per our executive observation, it is a 4 storey building and subject situated on the 2nd floor. Location was easy to find. Locality appears to be commercial and area seems to be upmarket. Name board of the subject was not sighted. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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 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. Shambhu Jain |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9930145333 |
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Date : |
07.02.2018 |
LOCATIONS
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Registered Office : |
6/2497, 2nd Floor, Office No.1 Balaji Sadan, Limbu Sheri, Mahidharpura, Surat – 395003, Gujarat |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9930145333 (Mr. Shambhu) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Rented |
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Locality : |
Commercial |
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Branch I : |
Building Mall, BKC, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Branch II : |
M - ll, Pearl Plaza, Tata Road No. 2, Roxy Cinema, Opera House, Mumbai
– 400004, Maharashtra, India |
PARTNERS
As on: 31.03.2017
|
Name : |
Mr. Lokesh Jain |
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Designation : |
Designated Partner |
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Address : |
S/O Pukhraj Jain, 75, Gali No 3, Munot Nagar, Beawar, Ajmer – 305901, Rajasthan, India |
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Date of Appointment : |
18.03.2016 |
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DPIN No.: |
07323585 |
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Name : |
Mr. Rahul Jain |
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Designation : |
Designated Partner |
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Address : |
75, Gali No. 3, Munot Nagar, Beawar Ajmer - 305901, Rajasthan, India |
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Date of Birth : |
27.08.1991 |
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Date of Appointment : |
18.03.2016 |
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DPIN No.: |
07273320 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Shambhu Jain |
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Designation : |
Chief Executive Officer |
OBLIGATION DETAILS
|
Names of Parson |
Obligation
of Contribution (INR In Million) |
|
Rahul Jain |
0.025 |
|
Lokesh Jain |
0.025 |
|
Total |
0.050 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Processor, Trader and Exporter of Diamonds. (Registered
Activity and also confirmed by management) (Manufacturing done through job
work) |
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Products : |
Diamonds |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Diamonds |
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Countries : |
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Terms : |
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Selling : |
L/C, Cheque and Credit (30 Days) |
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Purchasing : |
L/C, Cheque and Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
04 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Mrs. Ronak Jain Chartered Accountants |
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Address : |
1218, Prasad Chambers, opera Houses, Mumbai – 400004, Maharashtra,
India |
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Membership No : |
141722 |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2017
TOTAL OBLIGATION OF
CONTRIBUTION: INR 0.050 Million
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
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|
31.03.2017 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.050 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.050 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL
BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.050 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.019 |
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Sundry Debtors |
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23.370 |
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Cash & Bank Balances |
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0.305 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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102.010 |
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Total
Current Assets |
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125.704 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Sundry Creditors |
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125.417 |
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Other Current Liabilities |
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0.237 |
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Provisions |
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|
0.000 |
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Total
Current Liabilities |
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125.654 |
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Net
Current Assets |
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|
0.050 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.050 |
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PROFIT
& LOSS ACCOUNT
|
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PARTICULARS |
|
|
31.03.2017 |
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SALES |
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Income |
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235.800 |
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Other Income |
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|
0.199 |
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TOTAL
|
|
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235.999 |
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Less |
EXPENSES |
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Purchases of Stock-in-Trade |
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235.180 |
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
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(0.019) |
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Other expenses |
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|
0.764 |
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TOTAL |
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235.925 |
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PROFIT/
(LOSS) BEFORE TAX |
|
|
0.074 |
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Less |
TAX |
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|
0.032 |
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PROFIT/
(LOSS) AFTER TAX |
|
|
0.042 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
|
|
36.17 |
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Account Receivables Turnover (Income /
Sunday Debtors) |
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|
10.09 |
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Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
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194.65 |
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Inventory Turnover (Operating Income / Inventories) |
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|
3.89 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
1.00 |
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Debt Equity Ratio (Total Liability / Networth) |
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0.00 |
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
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2513.08 |
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
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|
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
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|
0.02 |
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Return on Total Assets ((PAT / Total Assets) * 100) |
% |
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|
0.03 |
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Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
84.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
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|
1.00 |
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Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
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|
1.00 |
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G-Score Ratio Financial (Networth / Total Assets) |
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0.00 |
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G-Score Ratio Debt (Debts / Equity Capital) |
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0.00 |
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G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
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|
1.00 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
Yes |
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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 |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
OBSERVATION
POINTS |
|
Name : |
OPULENT DIAMONDS LLP |
|
|
|
|
Address : |
6/2497, 2nd Floor, Office No.1 Balaji Sadan, Limbu Sheri, Mahidharpura, Surat – 395003, Gujarat, India |
|
|
|
|
Person to whom we met: |
Mr. Vishnu Bhai (Landlord)
|
|
|
|
|
Contact No : |
91-9930145333 (Mr. Shambhu Jain – CEO) |
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Name Board: |
Not Sighted |
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Location: |
Easy |
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Landmark : |
Mahidharpura |
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Total Floors of the building: |
4 Floor |
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Subject situated on : |
2nd Floor |
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Locality: |
Commercial |
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Area: |
Upmarket |
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Proof of visit: |
Photographs |
INDEX OF
CAHREGS: No Charges Exists for
Company
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 78.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.