|
|
|
MIRA INFORM REPORT
|
Report No. : |
484039 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANKIT GEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DW 6251/6252, D Tower, G Block, Bharat Diamond Bourse,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-43548800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation
: |
27.04.2011 |
|
|
|
|
Com. Reg. No.: |
11-216778 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 373.538 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH2011PTC216778 |
|
|
|
|
IEC No.: |
0388042664 |
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|
|
|
GSTIN No.: |
27AAJCA4305Q1ZC |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA4305Q |
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|
|
GSTIN : |
Not Divulged |
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|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
Line of Business
: |
The Company is predominantly engaged in the business of
Importing, Manufacturing and Exporting of Single Product i.e., Diamond to its
various customers located in different countries. The company has also
started the business of Generation and Supply of Solar Power Electricity.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2011. It is predominantly engaged in the business of importing, manufacturing and exporting of diamonds. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has achieved a fair growth of 8.34% in its revenue as compared to the previous year’s revenue and has reported an average profitability margin of 1.88%. The company possesses healthy financial position marked by above average networth base, low debt balance sheet profile and satisfactory liquidity position. Rating is constrained on account of company’s large working capital requirements, its exposure to intense competition in the diamond industry. Business is active. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Terms Loans = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
31.10.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Terms Loans = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
31.10.2017 |
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 04.01.2018
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 DENIED BY
|
Name : |
Mr. Ravi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-43548882 |
|
Date : |
02.01.2018 |
MANAGEMENT NON-COOPERATIVE – [Tel No.: 91-22-43548898]
Tel No.: [91-22-43548800] -
(RINGING)
LOCATIONS
|
Registered Office / Head Office : |
D Tower, DW 6251/6252, D Tower, G Block, Bharat Diamond Bourse,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-43548800 to 43548898 |
|
Fax No.: |
91-22-43548899 / 23632344 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Plot No. F8-F9, Gujarat Hira Bourse,Gems and Jewellery Park, Ichhapore, Surat – 394510, Gujarat, India |
|
Tel. No.: |
91- 261 2600200 till 2600205 |
|
E-Mail : |
|
|
|
|
|
Overseas Office 1 : |
Hong Kong - Marketing Associate Rm. 403 4/FL., Chevalier House,
45 - 51 Chatham Road South, Tsimshatsui. Kln. Hong
Kong |
|
Tel. No.: |
+852-27214642 / 27212642 |
|
Fax No.: |
+852-27213642 |
|
E-Mail : |
|
|
|
|
|
Overseas Office 2 : |
Antwerpen - Marketing Associate Hoveniers Straat 30, Box 210,
Room No. 422 - 425, 2018,
Antwerpen, Belgium |
|
Tel. No.: |
+323-2329484 |
|
Fax No.: |
+323-2329481 |
|
E-Mail : |
|
|
|
|
|
Overseas Office 3 : |
New York -
Marketing Associate 15 West 47th Street,Suite 1704,New York, New York - 10036,United States of America |
|
Tel. No.: |
+1 212 302 1571 / 212 302
1587 Toll Free: 1800-216-0855 |
|
Fax No.: |
+1 917 534 6110 |
|
|
|
|
Overseas Office 4 : |
Located
At :
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Parvakumar Vasantlal Shah |
|
Designation : |
Director |
|
Address : |
402, Anganvishala Apartment, Athwalines Surat – 395007,
Gujarat, India |
|
Date of Birth/Age: |
03.09.1983 |
|
Date of Appointment : |
27.04.2011 |
|
DIN No.: |
00774167 |
|
|
|
|
Name : |
Mr. Pravin Pannalal Shah |
|
Designation : |
Director |
|
Address : |
201 Abhishek Park – A Apartment, Behind Pooja Abhishek,
Near Lal Banglow, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Birth / Age : |
17.01.1963 |
|
Date of Appointment : |
28.09.2012 |
|
PAN No.: |
ADRPS1045H |
|
DIN No.: |
00798301 |
|
|
|
|
Name : |
Mr. Vasantlal Chandulal Shah |
|
Designation : |
Director |
|
Address : |
F No. 402, Angan Vishala, Opposite Indoor Stadium,
Athwalines Surat – 395007, Gujarat, India |
|
Date of Birth / Age : |
20.02.1953 |
|
Date of Appointment : |
28.09.2012 |
|
PAN No.: |
AADPS2337M |
|
DIN No.: |
00798334 |
|
|
|
|
Name : |
Mr. Dilipbhai Amrutlal Soni |
|
Designation : |
Director |
|
Address : |
6 Pooja Row House, Near Jay Ambe Society, Adajan Patia,
Surat – 395009, Gujarat, India |
|
Date of Birth / Age : |
16.06.1954 |
|
Date of Appointment : |
28.09.2012 |
|
PAN No.: |
AHBPS2026C |
|
DIN No.: |
00798359 |
|
|
|
|
Name : |
Mr. Ankit Arun Shah |
|
Designation : |
Director |
|
Address : |
92, Urvashi Building, Napeansea Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age: |
30.08.1983 |
|
Date of Appointment : |
27.04.2011 |
|
DIN No.: |
01872781 |
|
PAN No.: |
AAGHA7477M |
|
|
|
|
Name : |
Mr. Arunbhai Chimanlal Shah |
|
Designation : |
Director |
|
Address : |
Flat No: 92, 9th Floor, Urvashi Building, 66-L,
Jagmohandas Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth / Age : |
01.06.1986 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01979698 |
|
|
|
|
Name : |
Mr. Dilip Shah |
|
Designation : |
Director |
|
Address : |
302, Abhishek Park – A Apartment, Behind Pooja Abhishek,
Near Lal Banglow, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Birth / Age : |
01.06.1958 |
|
Date of Appointment : |
28.09.2012 |
|
PAN No.: |
AHPPS8236E |
|
DIN No.: |
02196230 |
|
|
|
|
Name : |
Mr. Jenish Dilipkumar Shah |
|
Designation : |
Director |
|
Address : |
302, Abhishek Park – A, Apartment, Behind Pooja Abhishek, Near
Lal Banglow, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
03547958 |
|
|
|
|
Name : |
Mr. Shreyans Arvindkumar Shah |
|
Designation : |
Director |
|
Address : |
Flat No.7, C, Waterlook Apartment, Behind Anjansalaka,
Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
03548010 |
|
PAN No.: |
AAMPS4538F |
KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Arun Chimanlal Shah |
|
5192825 |
|
Dilip Chimanlal Shah |
|
4012638 |
|
Ankit Arun Shah |
|
2360375 |
|
Vasant Chandulal Shah |
|
1888300 |
|
Parva Vasantbhai Shah |
|
944150 |
|
Pravin Pannalal Shah |
|
2053526 |
|
Dilip Amrutlal Soni |
|
1817489 |
|
Mukund Dilip Soni |
|
472075 |
|
Shreyans Arvind Shah |
|
2313168 |
|
Priyansh Pravinbhai Shah |
|
236036 |
|
Jainish Dilipbhai Shah |
|
2313168 |
|
|
|
|
|
Total |
|
23603750 |
|
Names of Shareholders (Preference shares) |
|
No. of Shares |
|
Arun Chimanlal Shah |
|
3025000 |
|
Dilip Chimanlal Shah |
|
2337500 |
|
Ankit Arun Shah |
|
1375000 |
|
Vasant Chandulal Shah |
|
1100000 |
|
Parva Vasantbhai Shah |
|
550000 |
|
Pravin Pannalal Shah |
|
1196250 |
|
Dilip Amrutlal Soni |
|
1058750 |
|
Mukund Dilip Soni |
|
275000 |
|
Shreyans Arvind Shah |
|
1347500 |
|
Priyansh Pravinbhai Shah |
|
137500 |
|
Jainish Dilipbhai Shah |
|
1347500 |
|
Total |
|
13750000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is predominantly engaged in the business of Importing,
Manufacturing and Exporting of Single Product i.e., Diamond to its various
customers located in different countries. The company has also started the
business of Generation and Supply of Solar Power Electricity. [Registered
Activity] |
||||
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
|
|
||||
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Imports : |
Not Divulged |
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||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
D.R. Mehta and Associates Chartered Accountants |
|
Address : |
H-2, Everest Building, 9th Floor, 156, Tardeo Road, Mumbai - 400034, Maharashtra, India |
|
PAN No.: |
AABFD5879P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company: [AS On 31.03.2016] |
|
|
|
|
|
Other Related Parties: [AS On 31.03.2016] |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23610000 |
Equity Shares |
INR 10/- each |
INR 236.100 Million |
|
16390000 |
Preference Shares |
INR 10/- each |
INR 163.900 Million |
|
|
Total |
|
INR 400.000
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23603750 |
Equity Shares |
INR 10/- each |
INR 236.038 Million |
|
13750000 |
Preference Shares |
INR 10/- each |
INR 137.500 Million |
|
|
Total |
|
INR 373.538
Million |
FINANCIAL DATA
[all figures are
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 |
373.538 |
373.538 |
373.538 |
|
(b) Reserves &
Surplus |
2063.315 |
1774.137 |
1433.014 |
|
(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) |
2436.853 |
2147.675 |
1806.552 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
47.486 |
47.598 |
55.180 |
|
(b) Deferred tax
liabilities (Net) |
24.804 |
26.107 |
28.894 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
72.290 |
73.705 |
84.074 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2558.787 |
2383.612 |
2095.622 |
|
(b) Trade payables |
4017.594 |
3155.015 |
3040.724 |
|
(c) Other current
liabilities |
83.393 |
84.121 |
166.247 |
|
(d) Short-term provisions |
17.425 |
1.662 |
1.619 |
|
Total Current Liabilities
(4) |
6677.199 |
5624.410 |
5304.212 |
|
|
|
|
|
|
TOTAL |
9186.342 |
7845.790 |
7194.838 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
466.605 |
294.752 |
344.973 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
4.914 |
|
(iii) Capital
work-in-progress |
165.110 |
65.145 |
1.127 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
217.655 |
215.046 |
172.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.821 |
2.108 |
3.653 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
851.191 |
577.051 |
526.667 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6340.040 |
5006.836 |
5251.099 |
|
(c) Trade receivables |
1824.381 |
2033.964 |
1291.308 |
|
(d) Cash and cash
equivalents |
34.805 |
34.678 |
30.371 |
|
(e) Short-term loans and
advances |
12.177 |
2.498 |
9.294 |
|
(f) Other current assets |
123.748 |
190.763 |
86.099 |
|
Total Current Assets |
8335.151 |
7268.739 |
6668.171 |
|
|
|
|
|
|
TOTAL |
9186.342 |
7845.790 |
7194.838 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
15443.636 |
14253.834 |
12760.110 |
|
|
Other Income |
36.909 |
33.643 |
156.300 |
|
|
TOTAL |
15480.545 |
14287.477 |
12916.410 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
13668.165 |
12395.067 |
12054.181 |
|
|
Purchases of
Stock-in-Trade |
646.991 |
466.397 |
352.712 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(495.997) |
(3.603) |
(954.787) |
|
|
Employees benefits
expense |
68.972 |
67.464 |
62.396 |
|
|
Other expenses |
843.696 |
566.090 |
644.676 |
|
|
Extraordinary Items |
(0.118) |
(12.904) |
0.234 |
|
|
TOTAL |
14731.709 |
13478.511 |
12159.412 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
748.836 |
808.966 |
756.998 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
239.503 |
246.417 |
192.761 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
509.333 |
562.549 |
564.237 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
55.819 |
40.287 |
36.158 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
453.514 |
522.262 |
528.079 |
|
|
|
|
|
|
|
Less |
TAX |
162.680 |
177.484 |
180.336 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
290.834 |
344.778 |
347.743 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
14356.700 |
13255.000 |
12090.100 |
|
|
TOTAL EARNINGS |
14356.700 |
13255.000 |
12090.100 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.92 |
15.32 |
15.45 |
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 |
|
Net cash flow from (used in) operations |
459.443 |
197.534 |
60.205 |
|
Net cash flows from (used in) operating activities |
314.322 |
16.771 |
(96.428) |
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
43.12 |
52.08 |
36.94 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
8.47 |
7.01 |
9.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
102.44 |
89.54 |
89.46 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.12 |
0.16 |
0.14 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.19 |
2.25 |
2.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.73 |
0.72 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.07 |
1.13 |
1.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
2.74 |
2.62 |
2.94 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.26 |
0.17 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.13 |
3.28 |
3.93 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales [(PAT/Sales) * 100) |
% |
1.88 |
2.42 |
2.73 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
% |
3.17 |
4.39 |
4.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
% |
11.93 |
16.05 |
19.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.25 |
1.29 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.30 |
0.40 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.27 |
0.27 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.98 |
6.51 |
5.76 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.25 |
1.29 |
1.26 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are 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 |
373.538 |
373.538 |
373.538 |
|
Reserves & Surplus |
1433.014 |
1774.137 |
2063.315 |
|
Net
worth |
1806.552 |
2147.675 |
2436.853 |
|
|
|
|
|
|
Long Term borrowings |
55.180 |
47.598 |
47.486 |
|
Short Term borrowings |
2095.622 |
2383.612 |
2558.787 |
|
Total
borrowings |
2150.802 |
2431.210 |
2606.273 |
|
Debt/Equity
ratio |
1.191 |
1.132 |
1.070 |
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
|
12760.110 |
14253.834 |
15443.636 |
|
|
|
11.706 |
8.347 |
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
|
12760.110 |
14253.834 |
15443.636 |
|
Profit |
347.743 |
344.778 |
290.834 |
|
|
2.73% |
2.42% |
1.88% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
373.538 |
373.538 |
|
(b) Reserves &
Surplus |
|
2099.874 |
1494.693 |
|
(c) Minority Interest |
|
694.175 |
834.482 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
359.346 |
230.641 |
|
Total Shareholders’ Funds
(1) + (2) |
|
3526.933 |
2933.354 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
49.910 |
110.308 |
|
(b) Deferred tax
liabilities (Net) |
|
32.445 |
26.107 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
21.208 |
16.849 |
|
Total Non-current
Liabilities (3) |
|
103.563 |
153.264 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2938.789 |
2827.333 |
|
(b) Trade payables |
|
4549.524 |
4203.934 |
|
(c) Other current
liabilities |
|
117.732 |
132.935 |
|
(d) Short-term provisions |
|
32.693 |
10.840 |
|
Total Current Liabilities
(4) |
|
7638.738 |
7175.042 |
|
|
|
|
|
|
TOTAL |
|
11269.234 |
10261.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
615.699 |
447.085 |
|
(ii) Intangible Assets |
|
22.289 |
21.930 |
|
(iii) Capital
work-in-progress |
|
165.109 |
65.145 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
204.894 |
202.267 |
|
(c) Deferred tax assets
(net) |
|
10.510 |
4.304 |
|
(d) Long-term Loan and Advances |
|
9.001 |
7.525 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1027.502 |
748.256 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
7473.614 |
6427.633 |
|
(c) Trade receivables |
|
2353.920 |
2700.806 |
|
(d) Cash and cash
equivalents |
|
225.077 |
176.485 |
|
(e) Short-term loans and
advances |
|
94.520 |
50.100 |
|
(f) Other current assets |
|
94.601 |
158.380 |
|
Total Current Assets |
|
10241.732 |
9513.404 |
|
|
|
|
|
|
TOTAL |
|
11269.234 |
10261.660 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
18596.634 |
18061.235 |
|
|
Other Income |
|
(280.854) |
178.403 |
|
|
TOTAL |
|
18315.780 |
18239.638 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
14963.596 |
13594.042 |
|
|
Purchases of
Stock-in-Trade |
|
1105.058 |
2338.968 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.196 |
233.405 |
|
|
Employees benefits
expense |
|
346.301 |
320.787 |
|
|
Other expenses |
|
695.346 |
608.613 |
|
|
TOTAL |
|
17110.497 |
17095.815 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1205.283 |
1143.823 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
267.977 |
268.512 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
937.306 |
875.311 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
74.227 |
57.680 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
863.079 |
817.631 |
|
|
|
|
|
|
|
Less |
TAX |
|
209.375 |
228.998 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
653.704 |
588.633 |
|
|
|
|
|
|
|
Add |
Minority Interest |
|
(130.619) |
(174.771) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
|
523.085 |
413.862 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.21 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DIAMOND INDUSTRY –
INDIA
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
Excerpts from Times of India dated 30th October 2010 is as
under –
Gem and 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 LOAN
|
Particulars |
31.03.2016 INR
In Million |
31.03.2015 INR
In Million |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
112.587 |
134.791 |
|
Total |
112.587 |
134.791 |
INDEX
OF CHARGES:
|
S no |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C82191180 |
10627268 |
THE SARASWAT CO-OP BANK LIMITED BKC BRANCH |
01/03/2016 |
- |
- |
250000000.0 |
GROUND FLOOR, ,MADHAVA COMMERCIAL PREMISES COOP SOC PLOTNO.C-4,E BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI – 400051, MAHARASHTRA, INDIA |
|
2 |
C03160124 |
10489292 |
STATE BANK OF INDIA |
28/03/2014 |
- |
- |
110000000.0 |
STATE BANK OF INDIA, BHARAT DIAMOND BOURSE, B.K.C. BANDRA (EAST), MUMBAI – 400051, MAHARASHTRA, INDIA |
|
3 |
B73089310 |
10419446 |
STATE BANK OF INDIA |
23/03/2013 |
- |
- |
125000000.0 |
DIAMOND BRANCH, D/3, WEST CORE, G BLOCK, BHARAT DIAMOND BOURSE, BKC, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
|
4 |
B24670374 |
10315972 |
STATE BANK OF INIDA |
15/09/2011 |
- |
- |
1145600000.0 |
DIAMOND BRANCH,1ST FLOOR, MAJESTIC SHOPPING CENTRE, 144, JAGANNATH SHANKAR SHETH MARG, GIRGAUM, MUMBAI – 400004, MAHARASHTRA, INDIA |
|
5 |
C56409931 |
10286963 |
STATE BANK OF INDIA |
27/04/2011 |
22/05/2015 |
- |
2851500000.0 |
DIAMOND BRANCH, WEST CORE BHARAT DIAMOND BOURSED-3 TOWER, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI – 400051, MAHARASHTRA, INDIA |
|
6 |
G32973364 |
10478787 |
STATE BANK OF PATIALA |
31/12/2013 |
13/03/2015 |
14/12/2016 |
65000000.0 |
COMMERCIAL BRANCH-II, EQUINOX BUSINESS PARK, TOWER-3,2ND FLOOR, OFF BKC,L.B.S MARG, KURLA (WEST), MUMBAI – 400070, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
Other money for which company is contingently liable |
10.252 |
1.249 |
FIXED ASSETS:
Tangible Assets
· Land
· Residential building
· Factory equipment’s
· Furniture and fixtures
· Furniture and Fixture
· Computer equipment’s
· Vehicles
· Office equipment
· Motor vehicles
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 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 63.48 |
|
|
1 |
INR 86.41 |
|
Euro |
1 |
INR 76.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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.