|
|
|
MIRA INFORM REPORT
|
Report No. : |
506399 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GOLDIAM JEWELLERY LIMITED |
|
|
|
|
Registered
Office : |
Unit No.G-10, Ground Floor, Gems and Jewellery Complex-II
SEEPZ (SEZ), Andheri (East), Mumbai – 400096, Maharashtra |
|
Tel. No.: |
91-22-28290396 / 28292262/ 28291893 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2005PLC152383 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0305018272 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCG3424F1ZY |
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|
|
|
TIN No.: |
27920552924 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3424F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Diamond Studded Gold Jewellery, Silver Jewellery and exporter of finished diamonds. [Registered Activity and also Confirmed by Management] |
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|
|
|
No. of Employees
: |
120 (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 |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2005. It is a wholly owned subsidiary of Goldiam International Limited. The company is a Manufacturer of Diamond Studded Gold Jewellery, Silver Jewellery and exporter of finished diamonds. As per the financial of 2017, the company has achieved a favourable growth in its revenue as compared to the previous year and has earned net profit margin of 7.54%. The company possesses healthy financial position marked by sound networth base along with low debt balance sheet profile. Rating strength is partially offset by susceptibility of the company’s margins to movement in foreign currency exchange rates and strong competition from the organized as well as unorganized players in cut and polished diamond industry. Business is active. Payment seems 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.
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
31-03-2018.
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 04.05.2018
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. Darshana Patel |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-22-28290396 |
|
Date : |
02.05.2018 |
LOCATIONS
|
Registered Office/Factory : |
Unit No.G-10, Ground Floor, Gems and Jewellery Complex-II, Seepz (Sez), Andheri (East), Mumbai – 400096, Maharashtra, India |
|
Tel. No.: |
91-22-28290396 / 28292262/ 28291893 |
|
Fax No.: |
91-22-28292885 / 28290418 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch Address: |
The Capital Office, No. 1107, A-Wing, 11th Floor, Plot No. C-70, G-Block, Behind ICICI Bank Building, BKC, Bandra (East), Mumbai – 400051, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rashesh Manharbhai Bhansal |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
5th Floor, A-55, Nishika Tower, Khan Abdul, Gaffar Khan Road, Worli, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.07.1968 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
T.Y.B.Com |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.11.2017 |
||||||||||||||||||||||||||||||||||||
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PAN No.: |
AABPB5614N |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
00057931 |
||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Ami Rashesh Bhansali |
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|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
5th Floor, A-55, Nishika Tower, Khan Abdul Gaffar Khan Road, Worli, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.05.1968 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01/04/2011 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPB7754Q |
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|
DIN No.: |
00057937 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ajay Manharlal Khatlawala |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
G-2, Unique Apts. S.V. Road, Irla, Vileparle (West), Mumbai - 400056 Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
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DIN No.: |
00124042 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kunal Harshad Vora |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
39, Dariya Mahal B 7th Floor 80, Nepeansea Road, Mumbai – 400006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.01.1977 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.07.2007 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAAPV7529F |
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|
DIN No.: |
01315269 |
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Raghvachari Srinivasan |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C-6-1, Lloyds Garden, Appa Saheb Marathe Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.09.2017 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00003968 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anmol Bhansali Rashesh |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Nishika Terrace, 5th Floor 55/A Khan Abdul Gaffar Khan
Road, Worli Sea Face, Mumbai -400030, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.10.2017 |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
07931599 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Darshana Patel |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
M/s. Goldiam International Limited, India |
|
1000000 |
|
Manhar Ratilal Bhansali |
|
100 |
|
Rashesh Manhar Bhansali |
|
100 |
|
Shobhana Manhar Bhansali |
|
100 |
|
Ami Rashesh Bhansali |
|
100 |
|
Rajesh Gordhandas Kapadia |
|
100 |
|
Kunal Harshad Vora |
|
100 |
|
|
|
1000600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer of Diamond Studded Gold Jewellery, Silver Jewellery and exporter of finished diamonds. [Registered Activity and also Confirmed by Management] |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
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|
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|
||||
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Agencies Held : |
Not Available |
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|
||||
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Exports : |
|
||||
|
Products : |
Finished diamonds |
||||
|
Countries : |
|
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment and Credit (30,60,90 Days) |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment and Credit (30,60,90 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and Manufacturer
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
120 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Pulindra Patel and Company Chartered Accountants |
|
Address : |
307, Gold Mohur Co-operative Society, 174, |
|
Tel. No.: |
91-22-22056233 |
|
Mobile No.: |
91-9322268243 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACPP4475C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
|
|
|
|
Fellow
subsidiaries: |
|
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves and Surplus |
991.155 |
852.279 |
689.406 |
|
(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) |
1001.155 |
862.279 |
699.406 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
53.710 |
103.615 |
133.192 |
|
(b) Trade
payables |
463.104 |
339.113 |
250.030 |
|
(c) Other current
liabilities |
6.075 |
5.622 |
4.300 |
|
(d) Short-term
provisions |
9.162 |
17.739 |
5.030 |
|
Total Current
Liabilities (4) |
532.051 |
466.089 |
392.552 |
|
|
|
|
|
|
TOTAL |
1533.206 |
1328.368 |
1091.958 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7.074 |
7.285 |
8.845 |
|
(ii)
Intangible Assets |
4.956 |
3.606 |
1.660 |
|
(iii) Tangible assets
capital work-in-progress |
0.100 |
0.100 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
100.276 |
129.901 |
124.651 |
|
(c) Deferred tax assets (net) |
0.795 |
1.093 |
1.305 |
|
(d)
Long-term loans and advances |
0.424 |
0.368 |
0.367 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
113.625 |
142.353 |
136.828 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
130.882 |
31.742 |
57.685 |
|
(b)
Inventories |
139.957 |
92.569 |
63.530 |
|
(c) Trade
receivables |
1054.529 |
824.597 |
687.086 |
|
(d) Cash and
bank balances |
58.189 |
169.110 |
76.998 |
|
(e)
Short-term loans and advances |
36.024 |
67.997 |
69.831 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1419.581 |
1186.015 |
955.130 |
|
|
|
|
|
|
TOTAL |
1533.206 |
1328.368 |
1091.958 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1841.476 |
1565.219 |
1252.307 |
|
|
Other Income |
50.362 |
15.641 |
17.090 |
|
|
TOTAL |
1891.838 |
1580.860 |
1269.397 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1519.934 |
1213.761 |
1040.759 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.240) |
(6.387) |
2.393 |
|
|
Employee benefit expense |
36.977 |
16.385 |
10.861 |
|
|
CSR expenditure |
2.830 |
2.065 |
1.910 |
|
|
Other expenses |
145.571 |
144.215 |
83.306 |
|
|
TOTAL |
1694.072 |
1370.039 |
1139.229 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
197.766 |
210.821 |
130.168 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.249 |
2.319 |
4.011 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
195.517 |
208.502 |
126.157 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.711 |
3.609 |
4.990 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
191.806 |
204.893 |
121.167 |
|
|
|
|
|
|
|
Less |
TAX |
52.930 |
42.019 |
24.716 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
138.876 |
162.874 |
96.451 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
848.291 |
689.405 |
592.954 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
987.167 |
852.279 |
689.405 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1838.866 |
1550.127 |
1222.163 |
|
|
TOTAL EARNINGS |
1838.866 |
1550.127 |
1222.163 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
561.986 |
452.393 |
322.098 |
|
|
Components and spare
parts |
1.272 |
1.300 |
1.223 |
|
|
Capital Goods |
2.457 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
565.714 |
453.693 |
323.321 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
138.88 |
162.87 |
96.45 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
1950.000 (Due to business
growth) |
Expected Sales (2018-2019): INR 2050.000 Million Million
The above information has been parted by Ms. Darshana Patel (Chief
Financial Officer)
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 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
73.841 |
122.620 |
137.409 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
10.939 |
92.765 |
106.754 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
209.02 |
192.29 |
200.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.75 |
1.90 |
1.82 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
111.21 |
101.98 |
87.69 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.41 |
2.28 |
2.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
16.30 |
19.18 |
12.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.35 |
0.36 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.05 |
0.12 |
0.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.53 |
0.54 |
0.56 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.01 |
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
87.94 |
90.91 |
32.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.54 |
10.41 |
7.70 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.06 |
12.26 |
8.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.87 |
18.89 |
13.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.67 |
2.54 |
2.43 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.41 |
2.35 |
2.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.65 |
0.65 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.37 |
10.36 |
13.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.67 |
2.54 |
2.43 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
689.406 |
852.279 |
991.155 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
699.406 |
862.279 |
1001.155 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
133.192 |
103.615 |
53.710 |
|
Total
borrowings |
133.192 |
103.615 |
53.710 |
|
Debt/Equity
ratio |
0.190 |
0.120 |
0.054 |
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 |
1252.307 |
1565.219 |
1841.476 |
|
|
|
24.987 |
17.650 |
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 |
1252.307 |
1565.219 |
1841.476 |
|
Profit/ (Loss) |
96.451 |
162.874 |
138.876 |
|
|
7.70
% |
10.41
% |
7.54
% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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% |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from
“2, Prasad Chambersopera House Mumbai – 400004, Maharashtra, India” to the
present address w.e.f. 15.05.2006.
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.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G55419840 |
100126181 |
CITI BANK N.A. |
18/09/2017 |
- |
- |
200000000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTRE,9TH FLOORPLOT NO. C-54 & 55, BKC, BANDRA
(E)MUMBAIMH400051IN |
|
2 |
C14464697 |
10512040 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
18/07/2014 |
- |
- |
50000000.0 |
52/60, MAHATMA
GANDHI ROAD,FORTMUMBAIMH400001IN |
|
3 |
C11692266 |
10165866 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
30/06/2009 |
24/06/2014 |
- |
300000000.0 |
52/60, MAHATMA
GANDHI ROAD,FORTMUMBAIMH400001IN |
|
4 |
B24905432 |
10224577 |
YES BANK LIMITED |
21/05/2010 |
30/06/2011 |
11/11/2011 |
100000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
FIXED ASSETS:
Tangible assets
- Building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer Equipments
- Office equipment
Intangible assets
- 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 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 66.61 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
RBY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
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.