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|
|
MIRA INFORM REPORT
|
Report No. : |
493905 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DA JEWELS PRIVATE LIMITED (w.e.f. 05.01.2011) |
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|
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Formerly Known
As : |
A
K GEMS PRIVATE LIMITED |
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Registered Office
: |
B. No. 50, Sarjan Society, Behind Umra Jakatnaka, Umra, Surat-395007,
Gujarat |
|
Tel. No.: |
91-261-2534999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.11.2009 |
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Com. Reg. No.: |
04-058723 |
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Capital
Investment / Paid-up Capital : |
INR 17.950
Million |
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|
CIN No.: [Company Identification
No.] |
U36912GJ2009PTC058723 |
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IEC No.: |
Not Divulged |
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GST No.: |
24AAICA0727F1Z4 |
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TIN No.: |
24220902129 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICA0727F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading, Cutting and Polishing of Rough Diamonds. [Registered Activity
and also Confirmed by Management) |
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No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
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 |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in year 2009. It is engaged in trading, cutting and polishing of rough diamonds. For the financial year 2017, the company has achieved top line growth of 8.61% along with low profit margin of 0.36%.
The moderate financial risk profile of the company is marked by average net worth base along with comfortable debt coverage metrics due to low debt balance sheet profile. Rating is constrained on account of the company’s low EPS of INR. 0.54 against the Face Value of INR. 10. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.03.2018.
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. Nikhilkumar Ashokkumar Kapadiya |
|
Designation : |
Director |
|
Contact No.: |
91-9998888807 |
|
Date : |
24.02.2018 |
LOCATIONS
|
Registered Office : |
B. No. 50, Sarjan Society, Behind Umra Jakatnaka, Umra, Surat-395007,
Gujarat, India |
|
Tel. No.: |
91-261-2534999 |
|
Mobile No.: |
91-9998888807 (Mr. Nikhilkumar Ashokkumar Kapadiya) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Residential |
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Factory/ Head
Office : |
Plot No. 403/2, Khodiyar Timber, Opposite Bhogilal Compound, Vastadevi Road, Katargam, Surat-395007, Gujarat, India |
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|
|
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Branch Office: |
Bharat Diamond Bourse, J- EAST 5010, BKC Mumbai - 4000051, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ashokkumar Ramanlal Kapadiya |
|
Designation : |
Director |
|
Address : |
Bunglow No: 50, Sarjan Society Umra, Opposite Sargam Shopping Centre, Surat Dumas, Surat 395007, Gujarat, India |
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Date of Birth/Age : |
27.12.1960 |
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Date of Appointment : |
27.11.2009 |
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DIN No.: |
02791175 |
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|
|
|
Name : |
Mr. Rupil Ashokkumar Kapadiya |
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Designation : |
Director |
|
Address : |
Bunglow No: 50, Sarjan Society Umra, Opposite Sargam Shopping Centre, Surat Dumas, Surat 395007, Gujarat, India |
|
Date of Birth/Age : |
08.11.1988 |
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Date of Appointment : |
27.11.2009 |
|
DIN No.: |
02791183 |
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|
|
|
Name : |
Mr. Nikhilkumar Ashokkumar Kapadiya |
|
Designation : |
Director |
|
Address : |
B. No: 50, Sarjan Society, Behind Umra Jakatnaka, Umra, Surat 395007, Gujarat, India |
|
Date of Birth/Age : |
28.07.1990 |
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Date of Appointment : |
27.11.2009 |
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DIN No.: |
02791187 |
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|
|
|
Name : |
Mrs. Daxaben Ashokkumar Kapadia |
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Designation : |
Director |
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Address : |
50, Sarjan Society, Near Sargam Shopping Center, Piplod, Surat 395001, Gujarat, India |
|
Date of Birth/Age : |
10.12.1967 |
|
Date of Appointment : |
24.01.2011 |
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DIN No.: |
03401214 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Ashokkumar R. Kapadiya |
1150750 |
64.11 |
|
Rupil A. Kapadiya |
374850 |
20.88 |
|
Nikhilkumar A. Kapadiya |
194650 |
10.84 |
|
Daxaben A. Kapadiya |
74750 |
4.16 |
|
|
|
|
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Total |
1795000 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading, Cutting and Polishing of Rough Diamonds. [Registered Activity
and also Confirmed by Management) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
POlished Diamonds |
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Countries : |
Hong Kong |
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Imports : |
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Products : |
Rough Diamonds |
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Countries : |
· South Africa · Belgium |
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Terms : |
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Selling : |
Cash, Advance Payment, L/C, RTGS and Credit (30/ 60 Days) |
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Purchasing : |
Cash, Advance Payment, L/C, RTGS and Credit (30/ 60 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retails and End Users
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No. of Employees : |
40 [Approximately] |
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Bankers : |
· Standard Chartered Bank · The Sarvodaya Sahkari Bank Limited "Shree Nidhi" Khand Bazar, Varachha
Road,, Surat - 395009, Gujarat, India |
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Facilities : |
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Auditors : |
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|
Name : |
SNK and Company Chartered Accountants |
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Address : |
31-A, Snk House, Adarsh Society, Opposite Seventh Day Adventist High,
, Surat – 395001, Gujarat, India |
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Tel. No.: |
91-261-2656273-4 |
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Fax No.: |
91-261-2656868 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAJFS8455L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1795000 |
Equity Shares |
INR 10/- each |
INR 17.950
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
17.950 |
17.950 |
7.950 |
|
(b) Reserves & Surplus |
5.089 |
4.120 |
2.103 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
2.460 |
|
Total
Shareholders’ Funds (1) + (2) |
23.039 |
22.070 |
12.513 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
11.003 |
11.614 |
21.791 |
|
(b) Deferred tax liabilities (Net) |
0.781 |
0.687 |
0.376 |
|
(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) |
11.784 |
12.301 |
22.167 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
55.940 |
33.032 |
0.000 |
|
(b)
Trade payables |
25.213 |
9.886 |
48.523 |
|
(c)
Other current liabilities |
4.563 |
4.427 |
7.389 |
|
(d)
Short-term provisions |
0.347 |
0.566 |
0.170 |
|
Total
Current Liabilities (4) |
86.063 |
47.911 |
56.082 |
|
|
|
|
|
|
TOTAL |
120.886 |
82.282 |
90.762 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13.378 |
14.486 |
13.584 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.625 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.167 |
|
(e)
Other Non-current assets |
0.425 |
0.425 |
0.425 |
|
Total
Non-Current Assets |
13.803 |
14.911 |
14.801 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
88.470 |
46.030 |
62.026 |
|
(c)
Trade receivables |
13.313 |
18.527 |
5.083 |
|
(d)
Cash and cash equivalents |
2.383 |
1.020 |
1.955 |
|
(e)
Short-term loans and advances |
2.706 |
1.527 |
6.876 |
|
(f)
Other current assets |
0.211 |
0.267 |
0.021 |
|
Total
Current Assets |
107.083 |
67.371 |
75.961 |
|
|
|
|
|
|
TOTAL |
120.886 |
82.282 |
90.762 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
272.589 |
250.971 |
142.060 |
|
|
|
Other Income |
0.105 |
0.175 |
0.140 |
|
|
|
TOTAL |
272.694 |
251.146 |
142.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
250.292 |
231.942 |
124.225 |
|
|
|
Operating expenses |
2.469 |
2.712 |
3.606 |
|
|
|
Employees benefits expense |
8.363 |
5.590 |
6.436 |
|
|
|
Prior period adjustments |
0.004 |
-0.001 |
0.003 |
|
|
|
Other expenses |
1.795 |
3.682 |
2.800 |
|
|
|
TOTAL |
262.923 |
243.925 |
137.070 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
9.771 |
7.221 |
5.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.774 |
4.632 |
3.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.997 |
2.589 |
1.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.587 |
1.527 |
0.659 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.410 |
1.062 |
0.881 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.442 |
1.045 |
0.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.968 |
0.017 |
0.581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.051 |
7.082 |
4.832 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
110.229 |
27.834 |
90.914 |
|
|
|
Capital Goods |
0.000 |
0.000 |
3.078 |
|
|
TOTAL IMPORTS |
110.229 |
27.834 |
93.992 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
0.54 |
0.01 |
0.73 |
|
Expected Sales (2017-2018): INR 290.000 Million
The above information has been parted by Mr. Nikhilkumar
Ashokkumar Kapadiya (Director)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.478 |
1.853 |
5.010 |
|
|
|
|
|
|
Cash generated from operations |
2.713 |
1.896 |
(7.124) |
|
|
|
|
|
|
Net Cash inflow from Operating Activities |
2.365 |
1.330 |
(7.294) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
17.83 |
26.94 |
13.06 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
20.48 |
13.55 |
27.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
36.77 |
15.56 |
142.57 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.11 |
0.16 |
0.08 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.73 |
0.50 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.75 |
0.91 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.97 |
2.11 |
2.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.74 |
2.17 |
4.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.58 |
0.66 |
1.09 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.44 |
1.56 |
1.43 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.36 |
0.01 |
0.41 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.80 |
0.02 |
0.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.20 |
0.08 |
4.64 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.41 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.22 |
0.45 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.19 |
0.27 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.81 |
2.59 |
3.37 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.41 |
1.35 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
7.950 |
17.950 |
17.950 |
|
Reserves & Surplus |
2.103 |
4.120 |
5.089 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
2.460 |
0.000 |
0.000 |
|
Net
worth |
12.513 |
22.070 |
23.039 |
|
|
|
|
|
|
long-term borrowings |
21.791 |
11.614 |
11.003 |
|
Short term borrowings |
0.000 |
33.032 |
55.940 |
|
Current Maturities of Long
term debt |
5.010 |
1.853 |
1.478 |
|
Total
borrowings |
26.801 |
46.499 |
68.421 |
|
Debt/Equity
ratio |
2.142 |
2.107 |
2.970 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
142.060 |
250.971 |
272.589 |
|
|
|
76.665 |
8.614 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
142.060 |
250.971 |
272.589 |
|
Profit |
0.581 |
0.017 |
0.968 |
|
|
0.41% |
0.01% |
0.36% |
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 |
No |
|
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 |
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 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 |
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 |
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.
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B95561437 |
10475760 |
THE SARVODAYA SAHKARI BANK LTD. |
24/01/2014 |
- |
- |
25000000.0 |
"SHREE NIDHI" KHAND BAZAR,VARACHHA ROAD,SURATGJ395009IN |
|
2 |
G33179425 |
10578999 |
STANDARD CHARTERED BANK |
08/06/2015 |
- |
19/12/2016 |
37500000.0 |
1ST FLOOR, C K TOWER,BESIDES SARGAM SHOPPING CENTRE,PARLE POINTSURATGJ395007IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From directors and shareholders |
7.640 |
7.988 |
|
|
|
|
|
Total |
7.640 |
7.988 |
NATURE OF BUSINESS
The company is into the business of trading and cutting polishing of
rough diamonds.
OPERATIONS AND
BUSINESS PERFORMANCE
The Company has been able to generate income of INR 272.694 Million for
the year 2016-17 as compared to previous year of INR 251.146 Million. The
excess of income over expenditure has been increased to INR 1.410 Million as
compared to INR 1.062 Million in the previous financial year.
FIXED ASSETS:
· Motor Car
· Mobile Phone
· Furniture and Fixture
· Office equipment
· Computer Equipment
· Electrical Installations
· Plant and Machinery
· 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 exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.10 |
|
UK Pound |
1 |
INR 90.45 |
|
Euro |
1 |
INR 79.59 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.