|
|
|
MIRA INFORM REPORT
|
Report No. : |
499691 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DIRGH DIAMOND PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
GW-6023, Bharat Diamond Bourse, BKC, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra |
|
Tel. No.: |
91-22-26277210 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.05.2013 |
|
|
|
|
Com. Reg. No.: |
04-075353 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 110.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2013PTC305270 (New) U36910GJ2013PTC075353 (Old) |
|
|
|
|
IEC No.: [Import-Export Code No.] |
5213015140 |
|
|
|
|
CST/ TIN No.: |
24222806683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTD04035D |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECD6704F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The subject is engaged in the business of manufacturer, importer, exporter and trader of rough and polished diamonds. (Registered activity and also Confirmed by management) |
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|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject was incorporated in the year 2013 and it is a manufacturer,
importer, exporter and trader of rough and polished diamonds. As per the financials of March 2017, the company has registered a
growth of 21.11% in its revenue as compared to its previous year’s revenue
and reported average profit margin of 1.07% under review. Rating takes into consideration the company’s sound net worth along
with average debt coverage indicators and decent liquidity position. Further, the company has reported earnings per share of INR 3.25
against its face value of INR 10. However, rating strength is partially offset by its presence in highly
competitive and huge working capital requirement diamond industry. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 23.03.2018
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 : |
Ms. Ekta Chawda |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-261-2548777 |
LOCATIONS
|
Registered Office / Branch Address : |
GW-6023, Bharat Diamond Bourse, BKC, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-26277210 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Head Office |
92, Kabir Wadi, Near Lok Samarthan, A.K. Road, Surat-395008, Gujarat, India |
|
Tel. No.: |
91-261-2548777/ 24/ 2438680 |
|
|
|
|
Sales Office : |
203, 2nd Floor, Shubham Complex, Pipla Sheri, Mahidharpura,
Surat - 395003, Gujarat, India |
|
Tel. No.: |
91-261-2438680 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Laxmidas Balubhai Vekariya |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 23/24, Ramkrupa Society, Puna-Saroli Road, Surat-395010, Gujarat, India |
|
Date of Birth/Age : |
05.02.1975 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.09.2014 |
|
PAN No.: |
AEKPV3832M |
|
DIN No.: |
06570128 |
|
|
|
|
Name : |
Mr. Alpesh Keshavbhai Bambhrolia |
|
Designation : |
Whole-time Director |
|
Address : |
Plot No. A/16, Ramkrupa Society, Puna Saroli Road, Punagam, Surat-395010, Gujarat, India |
|
Date of Birth/Age : |
10.03.1986 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.09.2014 |
|
PAN No.: |
ALBPB4295Q |
|
DIN No.: |
06566953 |
|
|
|
|
Name : |
Mr. Navnitbhai Vajubhai Suhagiya |
|
Designation : |
Whole-time Director |
|
Address : |
Plot No.43, Keval Park, Society-2, Saroli Road, Punagam, Surat -395010, Gujarat, India |
|
Date of Birth/Age : |
16.04.1979 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.09.2014 |
|
PAN No.: |
BHEPS7928D |
|
DIN No.: |
06566988 |
KEY EXECUTIVES
|
Name : |
Ms. Ekta Chawda |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Alpesh Bambhrolia |
3666663 |
33.33 |
|
Laxmidas Vekariya |
3666674 |
33.33 |
|
Navnitbhai Suhagiya |
3666663 |
33.33 |
|
Total |
11000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in the business of manufacturer, importer, exporter and trader of rough and polished diamonds. (Registered activity and also Confirmed by management) |
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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 : |
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Products : |
Polished Diamonds |
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Countries : |
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Imports : |
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Products : |
Rough Diamonds |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit (60/ 90 Days) |
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Purchasing : |
Cash, L/C and Credit (60/ 90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Sheladiya and Jayani Chartered Accountants |
|
Address : |
5A, 4th Floor, New Office Building, Old Bombay Market, Umarwada,
Surat-395010, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACEFS9907Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000
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 |
110.000 |
10.000 |
10.000 |
|
(b) Reserves and Surplus |
77.674 |
141.933 |
121.315 |
|
(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) |
187.674 |
151.933 |
131.315 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
278.360 |
216.572 |
178.175 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.562 |
|
(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) |
278.360 |
216.572 |
178.737 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
628.100 |
344.157 |
0.000 |
|
(c) Other
current liabilities |
23.355 |
7.846 |
660.652 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
651.455 |
352.003 |
660.652 |
|
|
|
|
|
|
TOTAL |
1117.489 |
720.508 |
970.704 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
99.238 |
94.137 |
106.574 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
9.516 |
3.388 |
0.063 |
|
(c) Deferred tax assets (net) |
1.054 |
0.668 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
109.808 |
98.193 |
106.637 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
509.091 |
190.750 |
351.516 |
|
(c) Trade
receivables |
446.333 |
404.362 |
505.574 |
|
(d) Cash and
bank balances |
13.754 |
0.019 |
1.862 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
38.503 |
27.184 |
5.115 |
|
Total
Current Assets |
1007.681 |
622.315 |
864.067 |
|
|
|
|
|
|
TOTAL |
1117.489 |
720.508 |
970.704 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3332.452 |
2751.615 |
3147.572 |
|
|
Other Income |
1.920 |
0.623 |
2.247 |
|
|
TOTAL |
3334.372 |
2752.238 |
3149.819 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3270.989 |
2339.052 |
3049.265 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(251.417) |
132.045 |
(119.389) |
|
|
Employee benefit expense |
32.594 |
16.041 |
10.951 |
|
|
Other expenses |
211.102 |
215.659 |
167.138 |
|
|
TOTAL |
3263.268 |
2702.797 |
3107.965 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
71.104 |
49.441 |
41.854 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.104 |
49.441 |
41.854 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.894 |
17.919 |
10.163 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
55.210 |
31.522 |
31.691 |
|
|
|
|
|
|
|
Less |
TAX |
19.469 |
10.903 |
10.293 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
35.741 |
20.619 |
21.398 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.013 |
22.394 |
0.996 |
|
|
|
|
|
|
|
Less |
Bonus Shares issued |
1.078 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
77.676 |
43.013 |
22.394 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2550.244 |
1666.434 |
1720.881 |
|
|
TOTAL EARNINGS |
2550.244 |
1666.434 |
1720.881 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3070.645 |
2208.864 |
2691.109 |
|
|
TOTAL IMPORTS |
3070.645 |
2208.864 |
2691.109 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.25 |
20.62 |
21.40 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
(1.076) |
3.778 |
(225.076) |
|
Net cash flows from (used in) operating activities |
(20.931) |
(8.355) |
(234.893) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
48.89 |
53.64 |
58.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.47 |
6.80 |
6.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
70.09 |
53.70 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.14 |
0.26 |
0.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.72 |
0.53 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.83 |
0.79 |
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.48 |
1.43 |
1.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.47 |
2.32 |
5.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.53 |
0.62 |
0.81 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.07 |
0.75 |
0.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.20 |
2.86 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.04 |
13.57 |
16.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.55 |
1.77 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.77 |
1.23 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.17 |
0.21 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.53 |
21.66 |
17.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.55 |
1.77 |
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 |
10.000 |
10.000 |
110.000 |
|
Reserves & Surplus |
121.315 |
141.933 |
77.674 |
|
Net
worth |
131.315 |
151.933 |
187.674 |
|
|
|
|
|
|
Long-term borrowings |
178.175 |
216.572 |
278.360 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
178.175 |
216.572 |
278.360 |
|
Debt/Equity
ratio |
1.357 |
1.425 |
1.483 |
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 |
3147.572 |
2751.615 |
3332.452 |
|
|
0.000 |
(12.580) |
21.109 |
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 |
3147.572 |
2751.615 |
3332.452 |
|
Profit/ (Loss) |
21.398 |
20.619 |
35.741 |
|
|
0.68
% |
0.75
% |
1.07
% |
LEGAL
CASES
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in Report
(Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
Subject is a Private Limited Company incorporated in India under the Companies Act, 1956 on 29th May, 2013 having its registered office at Plot No. 92, Kabirwadi, Near Lok Samarthan, B/h New Silk Mills, A.K. Road, Surat, Gujarat-395008. The Company is engaged in the business of manufacturer, importer, exporter and trader of rough and polished diamonds.
PERFORMANCE REVIEW,
OPERATION AND PROSPECTS:
During the year, the revenue from operation stood INR 3332.452 Million compared to INR 2751.615 Million in previous year. The profit after tax increased to INR 35.741 Million as compared to INR 20.619 Million for the previous financial year. This is mainly due to increase in volumes and other cost saving measures taken by the company.
The Company is well on the way to further growth. The company has good order position on hand and with aggressive marketing strategy, it will further strengthen. The company is also making continuous efforts to improve the quality of products to sustain and grow in the competitive market.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
65.983 |
62.955 |
|
|
|
|
|
Total |
65.983 |
62.955 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G67373951 |
100136250 |
Union Bank of India |
21/11/2017 |
- |
- |
120000000.0 |
Tejura Chambers, 365 - 367,V.P. RoadNew Saidham Mandir,Opera House,MumbaiMH400004IN |
|
2 |
G39450853 |
100086158 |
The Kalupur Commercial Co-Operative Bank Limited |
24/03/2017 |
- |
- |
4174000.0 |
38-39, Ajanta Shopping Centre,Near Kinnari Cinema, Ring RoadSuratGJ395002IN |
|
3 |
G03638103 |
100027080 |
INDIA INFOLINE FINANCE LIMITED |
05/04/2016 |
- |
- |
27700000.0 |
12A-10, 13th Floor, Parinee Crescenzo, G Block,C-38&39, Bandra Kurla Complex, Bandra- EastMumbaiMa400051IN |
|
4 |
C65918732 |
10594425 |
Bank of India |
22/09/2015 |
- |
- |
90000000.0 |
Opera House Branch, Hermes House,Mama Parmanand Marg, Opp. Charni Road Stn (E),MumbaiMH400004IN |
|
5 |
C60991825 |
10584448 |
The kalupur commercial co-op. bank ltd. |
19/06/2015 |
- |
- |
3700000.0 |
Kalupur Bank Bhavan, Nr income tax circleAshram RoadAhmedabadGJ380014IN |
|
6 |
C60992849 |
10584720 |
The kalupur commercial co-op. bank ltd. |
19/06/2015 |
- |
- |
1199000.0 |
Kalupur Bank Bhavan, Nr income tax circleAshram RoadAhmedabadGJ380014IN |
|
7 |
C46440442 |
10554652 |
Bank of India |
07/02/2015 |
- |
- |
34100000.0 |
Opera House Branch, Hermes House, Mama ParmanandMarg, Opp. Churni Road Station (E), Opera House,MumbaiMH400004IN |
|
8 |
C24724296 |
10523239 |
ING Vysya Bank Limited |
24/09/2014 |
- |
- |
422000.0 |
18E ward, 362/1 paiki Mini Bazar,Varacha main roadOpp. J. D. Restaurent, VarachaSuratGJ395006IN |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.