|
|
|
MIRA INFORM REPORT
|
Report No. : |
497471 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
LALITHAA JEWELLERY MART PRIVATE LIMITED (w.e.f. 04.11.2013) |
|
|
|
|
Formerly Known
As : |
LALITHA JEWELLERY MART PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
123, Usman Road, T. Nagar, Chennai – 600017, Tamilnadu |
|
Tel. No.: |
91-44-28349860 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
26.11.1985 |
|
|
|
|
Com. Reg. No.: |
18-012417 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 119.042 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911TN1985PTC012417 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0406009651 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1523A |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealing
in Jewellery and Bullion Retail and Whole Sale Business. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied 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 |
|
Maximum Credit Limit : |
USD 12900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1985 and it is engaged in the gold jewellery retailing. As per financials of March of 2017, the company has registered a decline at 3.32% in its revenue as compared to its previous year’s revenue and has reported minimal profit margin of 0.42%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with average debt coverage indicators and decent liquidity position. Rating also takes into account the company’s established market presence and extensive experience of promoters. Further, the company has reported a good earnings per share of INR 21.40 against its face value of INR 10. However, rating strength is partially offset by the ongoing weakness in the jewellery industry which is expected to impact revenue growth from the gold operations at least in the near term. Payments seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating= BBB+ (Issuer
Non-Cooperative) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
27.03.2017 |
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 16.03.2018
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 DENIED
Management non-cooperative (Tel No.:91-44-28379860)
LOCATIONS
|
Registered Office : |
123, Usman Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28349860 / 28141155 |
|
Fax No.: |
91-44-28144311 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Icon Savithri Hanesh Building, T. Nagar, No:53, Habibulla Road,
Chennai – 600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28349860 |
|
Fax No.: |
91-44-28349861 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
Showrooms:
|
Located At ·
Chennai ·
Madurai ·
Trichy ·
Pondicherry ·
Kumbakonam ·
Ramanathapuram ·
Bangalore ·
Tirupati ·
Coimbatore ·
Puraisaiwakkam ·
Anna Nagar |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Kirankumar Moolchandji |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No. 15, Ragavaiah Road, 3A, Kenses Flat, 3rd Floor, T. Nagar, Chennai – 600017, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.06.1968 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.03.1999 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACHPM2247E |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01604600 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Hema Kiran Kumar |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
3A, Ragavaiah Road, T.
Nagar, Chennai – 600017,
Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.07.1979 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.02.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAHPK8099G |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01387588 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ponnusamy Rajeswaran Pillai |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.6, GKM Avenue, G.K. Moopanar Salai, Srinivasan Puram, New
Perungalathur, Chennai –
600063, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.06.2012 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2012 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AJFPR2380E |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02125793 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Saranya R |
|
Designation : |
Company Secretary |
|
Address : |
No.7, 1st Street, Eswaran Nagar, Kodambakkam, Chennai – 600024, Tamilnadu, India |
|
Date of Birth/Age : |
24.07.1989 |
|
Date of Appointment : |
25.08.2016 |
|
PAN No.: |
DWCPS4320G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
M. Kiran Kumar |
|
11187967 |
|
M. Shahul Hameed, Proprietor of M/s. Elegant Contractor |
|
38333 |
|
Prakash Chandra Jain |
|
33333 |
|
A.K. Exports, India – |
|
65333 |
|
Speciality Papers Limited, India |
|
81250 |
|
Emporis Projects Limited, India |
|
62500 |
|
Sanguina Media Limited, India |
|
68750 |
|
Swastik Securities and Finance Limited, India |
|
18750 |
|
Secundrabad Health Care Limited, India |
|
56250 |
|
Ecowave Infotech Limited, India |
|
31250 |
|
Kothari Credit (India) Limited, India |
|
260471 |
|
P Rajeswaran |
|
01 |
|
Hema Kiran Kumar |
|
20 |
|
Lalitha Castle Private Limited, India |
|
10 |
|
|
|
|
|
Total |
|
11904218 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
94.53220699 |
|
Promoters (Body corporate) |
0.000084 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.60203031 |
|
Public/Other than promoters (Body corporate) |
4.8656787 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing
in Jewellery and Bullion Retail and Whole Sale Business. [Registered
Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Andhra Bank, No.65, SRI Thyagaraya Road, Pondy Bazar, T. Nagar, Chennai – 600017, Tamilnadu, India · South Indian Bank, Chennai Industrial Finance Branch, 1st Floor, 110, Raheja Towers, 177, Anna Salai, Chennai – 600002, Tamilnadu, India ·
Bank of India, Chennai Mid Corporate Branch,
IV Floor, Tarapore Towers, 826 Anna Salai, Chennai – 600002, Tamilnadu, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
KFM and Company Chartered Accountants |
|
Address : |
Flat No.3, 18/8, Trust Pakkam North Street, (On Devanathan Road), Mandaveli, Chennai – 600028, Tamilnadu, India |
|
PAN No.: |
AAOFK2118D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company
: |
·
B.B. Jewellery Exporters Private Limited |
|
|
|
|
Other entities in
which key management personnel is having significant influence: |
· BB Jewellers and Manufacturers · AkshithaJewellers · BhakthiJewellers · BhavyaJewellers · AK Exports · Lalitha Motors Private Limited · Krishkiran Mega Mall Private Limited · Lalitha Castle Private Limited · Akshita Castle Private Limited · Bhakthi Castle Private Limited · Bhavya Homes Private Limited · Shree AyyappaJewellery Private Limited · B.B. Jewellery Exporters Private Limited · AsitaJewellery Manufacturing Private Limited · DilipChhabria Design Private Limited · Centrigrade Apparels Private Limited · Vertiv Software Labs Private Limited · Lalitha Charitable Trust |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11904218 |
Equity Shares |
INR 10/- each |
INR 119.042 Million |
|
|
|
|
|
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 |
119.042 |
117.696 |
116.362 |
|
(b) Reserves & Surplus |
4409.884 |
4058.475 |
3392.886 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
101.000 |
100.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4528.926 |
4277.171 |
3609.248 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
18.448 |
17.831 |
28.502 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
38.721 |
19.549 |
0.000 |
|
Total Non-current
Liabilities (3) |
57.169 |
37.380 |
28.502 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
8262.434 |
6805.185 |
5543.457 |
|
(b) Trade
payables |
726.835 |
330.917 |
587.707 |
|
(c) Other current
liabilities |
2575.237 |
1488.989 |
1360.355 |
|
(d) Short-term
provisions |
173.935 |
330.998 |
318.830 |
|
Total Current
Liabilities (4) |
11738.441 |
8956.089 |
7810.349 |
|
|
|
|
|
|
TOTAL |
16324.536 |
13270.640 |
11448.099 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
896.494 |
764.489 |
681.186 |
|
(ii)
Intangible Assets |
2.831 |
1.953 |
1.473 |
|
(iii)
Capital work-in-progress |
41.733 |
77.549 |
15.942 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.000 |
0.529 |
1.253 |
|
(c) Deferred tax assets (net) |
35.150 |
26.550 |
13.794 |
|
(d)
Long-term Loan and Advances |
783.816 |
727.507 |
491.761 |
|
(e) Other Non-current
assets |
12.683 |
11.660 |
3.886 |
|
Total Non-Current
Assets |
1784.707 |
1610.237 |
1209.295 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
13450.265 |
9974.199 |
8841.761 |
|
(c) Trade
receivables |
887.515 |
1254.843 |
1156.449 |
|
(d) Cash
and cash equivalents |
147.837 |
93.262 |
77.109 |
|
(e)
Short-term loans and advances |
54.212 |
338.099 |
163.485 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
14539.829 |
11660.403 |
10238.804 |
|
|
|
|
|
|
TOTAL |
16324.536 |
13270.640 |
11448.099 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
60557.009 |
58608.555 |
66819.187 |
|
|
Other Income |
8.464 |
3.247 |
11.358 |
|
|
TOTAL |
60565.473 |
58611.802 |
66830.545 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
41423.059 |
40357.199 |
43739.522 |
|
|
Purchases of
Stock-in-Trade |
18666.888 |
16050.512 |
22176.728 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3212.024) |
(1147.252) |
(1624.955) |
|
|
Employee benefit expense |
844.197 |
734.150 |
341.596 |
|
|
CSR expenditure |
14.613 |
11.025 |
0.000 |
|
|
Other expenses |
1148.913 |
686.850 |
433.179 |
|
|
Prior period items before tax |
0.000 |
0.000 |
0.302 |
|
|
Exceptional items before tax |
0.000 |
0.042 |
0.000 |
|
|
TOTAL |
58885.646 |
56692.526 |
65066.372 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1679.827 |
1919.276 |
1764.173 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1094.767 |
907.868 |
783.287 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
585.060 |
1011.408 |
980.886 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
111.328 |
95.483 |
91.238 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
473.732 |
915.925 |
889.648 |
|
|
|
|
|
|
|
Less |
TAX |
219.009 |
323.099 |
316.936 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
254.723 |
592.826 |
572.712 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
21.40 |
50.32 |
49.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
161.056 |
52.074 |
843.214 |
|
Net cash flows from (used in) operating activities |
(225.003) |
(272.871) |
695.770 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
5.35 |
7.81 |
6.32 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
68.23 |
46.71 |
57.78 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
4.41 |
2.14 |
3.25 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.12 |
0.19 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.79 |
2.27 |
2.53 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.72 |
0.68 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.83 |
1.60 |
1.54 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.59 |
2.09 |
2.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.21 |
0.20 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.53 |
2.11 |
2.25 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.42 |
1.01 |
0.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.56 |
4.47 |
5.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.62 |
13.86 |
15.87 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.30 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.09 |
0.19 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.32 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
69.56 |
57.97 |
47.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.30 |
1.31 |
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 |
116.362 |
117.696 |
119.042 |
|
Reserves & Surplus |
3392.886 |
4058.475 |
4409.884 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
100.000 |
101.000 |
0.000 |
|
Net
worth |
3609.248 |
4277.171 |
4528.926 |
|
|
|
|
|
|
Long-term borrowings |
28.502 |
17.831 |
18.448 |
|
Short term borrowings |
5543.457 |
6805.185 |
8262.434 |
|
Total
borrowings |
5571.959 |
6823.016 |
8280.882 |
|
Debt/Equity
ratio |
1.544 |
1.595 |
1.828 |
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 |
66819.187 |
58608.555 |
60557.009 |
|
|
|
(12.288) |
3.325 |
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 |
66819.187 |
58608.555 |
60557.009 |
|
Profit/ (Loss) |
572.712 |
592.826 |
254.723 |
|
|
0.86
% |
1.01
% |
0.42
% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDUSTRY DEVELOPMENTS
AND BUSINESS OUTLOOK
The World Gold Council highlighted that gold imports contracted and jewellery demand fell by 32 per cent in H1CY16 to around 186 tonnes in India. The key hurdles that the industry faced in have been 1) strike by jewelers on account of imposition of excise duty and government regulations, 2) delays in purchases on the expectation of fall in gold prices, 3) increase in recycled gold, and 4) possibility of higher share of unaccounted gold in the system due to the spike in prices, regulatory hurdles and levy of excise duty.
India’s gold market is highly fragmented as Jewellery’s retailing landscape is dominated by small businesses – regional and national chains only account for around 30% of the market. The picture in jewellery manufacturing is more extreme, with 95% of the industry consisting of small-scale operations. But this is changing. In recent years, large retailers and manufacturers have been gaining market share. GST has been rolled out from July 01,2017 ,one of the biggest tax reforms in India. At the domestic level, the organised retailers are expected to fare well, mainly due to the ongoing structural changes. It is likely that GST will accelerate the pace of consolidation. Firms that currently outsource manufacturing services from artisans and incur the 18% GST rate may look to develop in-house capabilities.
The Company has 15 ( Fifteen) Show rooms as on date 9 in Tamilnadu, 2 in Andhra Pradesh, and Karnataka, One in Puducherry & Telangana. Overall, the FY 2017-18 will be a year where, the company is targeting to open 2-3 showrooms in Tamilnadu and consolidate its operations and continue launching new designs and collections.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
35.000 |
0.000 |
|
Loans and advances from related parties |
149.000 |
149.000 |
|
Total |
184.000 |
149.000 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G37517737 |
100061139 |
SBICAP TRUSTEE COMPANY LIMITED |
18/10/2016 |
20/12/2016 |
- |
8340000000.0 |
202, MAKER TOWER, 'E', CUFFE PARADE,COLABA, MUMBAI-400005 MAHARASHTRA INDIA |
|
2 |
G07938632 |
100039897 |
State Bank of Hyderabad |
20/06/2016 |
- |
- |
150000000.0 |
INDUSTRIAL FINANCE BRANCH, NO.45, II LINE BEACHII LINE BEACH, 1ST FLOOR CHENNAI-600001 TAMILNADU INDIA |
|
3 |
C69699114 |
10601694 |
State Bank of India |
04/09/2015 |
- |
- |
120000000.0 |
COMMERCIAL BRANCHNO.232 NSC BOSE ROAD CHENNAI-600001 TAMILNADU INDIA |
|
4 |
C52756616 |
10567608 |
STATE BANK OF MYSORE |
10/04/2015 |
- |
- |
165000000.0 |
NO.576 2ND FLOORMOH BUILDINGS, ANNA SALAI CHENNA I-600006 TAMILNADU INDIA |
|
5 |
C45761293 |
10553369 |
State Bank of Hyderabad |
02/03/2015 |
- |
- |
50000000.0 |
INDUSTRIAL FINANCE BRANCH, FIRST FLOORNO.45, II LINE BEACH ROAD CHENNAI-600001 TAMILNADU INDIA |
|
6 |
C44322717 |
10550559 |
State Bank of Travancore |
23/02/2015 |
- |
- |
150000000.0 |
COMMERCIAL BRANCHNO.556 MOUNT ROAD, TEYNAMPET CHENNAI-600018 TAMILNADU INDIA |
|
7 |
C69698439 |
10413746 |
State Bank of India (Lead Bank) |
15/03/2013 |
05/10/2015 |
- |
6866000000.0 |
COMMERCIAL BRANCHNO.232 NSC BOSE ROAD CHENNAI-600001 TAMILNADU INDIA |
|
8 |
G62234984 |
10586981 |
ANDHRA BANK |
31/07/2015 |
- |
16/11/2017 |
341000000.0 |
NO.65, SRI THYAGARAYA ROAD PONDY BAZAR, T. NAGAR CHENNAI-600017 TAMILNADU INDIA |
|
9 |
G61937314 |
10575463 |
Bank of India |
13/06/2015 |
- |
04/11/2017 |
50000000.0 |
CHENNAI MID CORPORATE BRANCHIV FLOOR, TARAPORE TOWERS, 826 ANNA SALAI CHENNAI-600002 TAMILNADU INDIA |
|
10 |
G62332101 |
10577805 |
SOUTH INDIAN BANK |
17/06/2015 |
- |
25/10/2017 |
220000000.0 |
CHENNAI INDUSTRIAL FINANCE BRANCH1ST FLOOR,110, RAHEJA TOWERS, 177, ANNA SALAI CHENNAI-600002 TAMILNADU INDIA |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
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 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 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.