MIRA
INFORM REPORT
|
Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
BANSAL CORPORATION LIMITED |
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Registered Office : |
A-153, New Friends Colony, New Delhi-110065 |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
29.10.1999 |
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Com. Reg. No.: |
55-102216 |
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CIN No.: [Company
Identification No.] |
U74899DL1999PLC102216 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB04546D |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Subject is engaged In Construction Activities |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 160000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-153, New Friends Colony, New Delhi-110065, |
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E-Mail : |
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Website : |
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Corporate Office : |
Pacific Plot
No.-1, |
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Tel. No.: |
91-120-3012301,
2774154 |
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Fax No.: |
91-120-2774151 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Abhishek Bansal |
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Designation : |
Director |
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Address : |
A-153, New Friends Colony, Delhi-110065 |
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Date of Birth/Age : |
21.04.1979 |
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Date of Appointment : |
29.10.1999 |
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Name : |
Mr. Saket Bansal |
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Designation : |
Director |
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Address : |
A-153, New Friends Colony, Delhi-110065 |
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Date of Birth/Age : |
12.08.1981 |
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Date of Appointment : |
12.07.2004 |
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Name : |
Mr. Amit Goenka |
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Designation : |
Director |
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Address : |
Chandni Chowk, Churu-331001, Rajasthan |
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Date of Birth/Age : |
26.01.1981 |
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Date of Appointment : |
29.08.2003 |
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Name : |
Mr. Anant Jain |
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Designation : |
Director |
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Address : |
302, |
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Date of Birth/Age : |
30.12.1975 |
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Date of Appointment : |
29.08.2003 |
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Name : |
Mr. Veenu Bansal |
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Designation : |
Director |
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Address : |
A-153, New Friends Colony, Delhi-110065 |
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Date of Appointment : |
29.10.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Abhishek Bansal |
100 |
|
Mr. Avdesh Rai |
100 |
|
Akshay Corporate Services Private Limited |
293200 |
|
Mr. Janak Turbo Dynamics Limited |
154300 |
|
Ms. Meenu Goyal |
100 |
|
NRI Investment Limited |
1689000 |
|
Mr. Praveen Garg |
100 |
|
Mr. Ramesh Agarwal |
100 |
|
Rajesh Corporation Limited |
54000 |
|
Mr. Santosh D Bansal |
100 |
|
Mr. Saket Bansal |
134200 |
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Mr. Sudarshan K Bansal |
100 |
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Saket Housing Limited |
718000 |
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Mr. Satish Bansal |
100 |
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Sudarshan Housing and Finance Limited |
402500 |
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Mr. Veenu Bansal |
100 |
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Total |
3446100 |
As on 31.03.2006
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Names of Shareholders |
|
Percentage of
Holding |
|
Bodies Corporate |
|
96.08 |
|
Directors or their relatives |
|
3.91 |
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Others |
|
0.01 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged In Construction Activities |
GENERAL INFORMATION
|
Customers : |
v
Vardhman Spinning
Mills Limited v
Spencer
Hyper Market v
v
Tata v
Corporation
Bank v
Globus v
MTNL v
Chunmun
Stores v
Samsung v
Ritu Wears v
IDBI Bank v
Cross Word v
Skanska
Cementation India Private Limited v
Addidas,
Reebok, Nike v
SBI v
Loreal v
MICO v
600
seater/22 counter v
Dabur
Ayurveda v
Archies v
Dominos
Pizza v
The Home
Store (THS) v
Punjab
National Bank v
Moti Mahal
Restaurant v
v
Pizza
Corner v
Philips v
ADLABS -
IMAX v
Usha Lexus v
v
UTI Bank v
Raymonds v
Sony v
Clarks Inn
(Business Hotel) v
Bajaj v
Zodiac v
ICICI v
Benetton |
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Financial Institutions : |
U.P. Financial Corporation, 14/88, Civil Lines, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khowala & Associates Chartered Accountants |
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Address : |
D-163, 1st Floor, Lajpat Nagar I, New Delhi-110024 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3446100 |
Equity Shares |
Rs.10/- each |
Rs.34.461
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
41.311 |
41.311 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
1.075 |
0.000 |
|
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4] (Accumulated Losses) |
|
0.000 |
(1.149) |
|
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NETWORTH |
|
42.386 |
40.162 |
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|
LOAN FUNDS |
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|
|
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1] Secured Loans |
|
0.000 |
4.974 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
4.974 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
42.386 |
45.136 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
3.819 |
3.956 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
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INVESTMENT |
|
7.102 |
6.200 |
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|
DEFERREX TAX ASSETS |
|
0.403 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
|
72.334 |
78.566 |
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Sundry Debtors |
|
0.000 |
1.425 |
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Cash & Bank Balances |
|
4.058 |
3.043 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
117.764 |
90.558 |
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Total
Current Assets |
|
194.156 |
173.592 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
|
163.179 |
138.437 |
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Provisions |
|
0.000 |
0.275 |
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Total
Current Liabilities |
|
163.179 |
138.712 |
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Net Current Assets |
|
30.977 |
34.880 |
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MISCELLANEOUS EXPENSES |
|
0.085 |
0.100 |
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|
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TOTAL |
|
42.386 |
45.136 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
124.583 |
45.693 |
71.108 |
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Other Income |
0.076 |
0.920 |
5.757 |
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Total Income |
124.659 |
46.613 |
76.866 |
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Profit/(Loss) Before Tax |
2.548 |
2.818 |
3.546 |
|
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
2.548 |
2.818 |
3.546 |
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Expenditures : |
|
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|
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Raw Material Consumed |
44.157 |
33.839 |
41.581 |
|
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Purchases made for re-sale |
666.556 |
NA |
NA |
|
|
Increase/(Decrease) in Finished Goods |
(591.040) |
6.231 |
NA |
|
|
Salaries, Wages, Bonus, etc. |
0.438 |
0.587 |
1.108 |
|
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Payment to Auditors |
0.034 |
0.033 |
0.033 |
|
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Interest |
0.008 |
0.345 |
0.722 |
|
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Insurance Expenses |
|
0.009 |
0.022 |
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Power & Fuel |
0.131 |
0.448 |
0.314 |
|
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Depreciation & Amortization |
0.308 |
0.305 |
NA |
|
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Other Expenditure |
1.518 |
1.995 |
29.537 |
|
Total Expenditure |
122.111 |
43.795 |
73.319 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
2.04
|
6.04 |
4.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.04
|
6.04 |
4.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
1.42 |
1.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.07 |
0.09 |
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|
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Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
3.85 |
3.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.19 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
|
Name of the company |
BANSAL
CORPORATION LIMITED, |
|
Presented By |
MR. ABHISHEK BANSAL, DIRECTOR |
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1) Date and description of instrument creating the change |
Equitable mortgage created by the company on 04.06.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term loan of Rs.7.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
1st charge on land and building and plant and
machinery situated at Plot No.B-11, Block B, Sector 7, T H A Residential
colony, Surya Nagar, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest 16% p.a. Repayment in 13 quarterly installments as per terms of agreement |
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5) Name and Address and description of the person entitled to the charge. |
U.P. Financial Corporation 14/88, Civil Lines, |
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6) Date and brief description of instrument modifying the charge |
-- |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
-- |
Fixed Assets :
Air conditioner
Furniture and fixtures
Office equipments
Building
Vehicle
Computer
Website Details :
Winners take time to relish their work, knowing that scaling
the mountain is what makes the view from the top so exhilarating. The success
saga of Bansal Group, a business conglomerate having prime interest in real
estate development and construction activities also goes back to nearly 2
decades. Small opportunities paved the way for a great enterprise in the making
over all these years with a belief that ideas and innovations with the right
action always bring in the desired growth.
The vision of becoming a most trusted market leader
reflected well in each activity and venture for Bansal, and built a reputation
and market to feel proud of. Today we have over 50 successful mega projects
covering 3 Million Sq ft of real estate to our credit.
The corporate philosophy embedded in trust, quality and
commitment has helped the group to carve out a niche for itself in the highly
competitive world of construction. We excel on both Residential &
Commercial construction front and are working for a blue chip clientele
covering biggest of the brands like ICICI, SBI, MTNL, MICO, Philips, UTI Bank,
Sony, Corporation Bank and Hindustan Times, to name a few.
With a vision of redefining the art of leisure and modern
living for the people of
Not forgetting its responsibilities towards the society and
country, the group has also set up a non - profit organization which aims to
take education to a new level and contributing towards a brighter future for
the young
Motivation is and always has been an integral daily component
in the long-term success of the group. Staying focused, determined and
committed, we treat each achievement as bondage as it obliges us to a higher
achievement; each time we break our own record.
Real
Estate
Commercial
Pacific Malls -The motivation behind the
project is the groups’ ability to turn difficult mandates into profitable
solutions. The design proposes to incorporate the latest technologies including
equal sightline stadium seating, the best presentation and sound and lobby planning
strategies that can maximize revenues from café areas, bars, shopping mall,
hotel etc. Promoter strategy is basically to develop a chain of shopping
centers across
Basic Features of Pacific malls
planned by Group.
v
Multiplex
v
Hotel
v
Food
court.
v
Fully
air conditioned complex
v
Basement
parking facility
v
Capsule
Elevators for common area
v
High
speed Escalators on every floor (up and down)
v
Modern
Fire Fighting System
v
An
assured cent percent power backup for uninterrupted power supply
v
24
Hours Security system with Intercom Facility Grand Entrance opening into a
magnificent atrium
Residential
Pacific
Group has launched 250 premium residential apartments in
Dehradun by the name of Pacific Paradise. This complex will have fully
furnished air-conditioned apartments along with club, swimming poll, 24 hours
security, parking etc. It will the premium address of Dehradun.
Education
SAKET EDUCATION SOCIETY is formed under a Education Society to give Education a
boost and have established the
The group believes extending education facilities to the underprivileged
masses can most effectively attain this social objective. The first endeavour
of the society toward achieving its goals is the start of DELHI PUBLIC SCHOOL
INDIRAPURAM. SAKET EDUCATION SOCIETY in tandem with the DPS Society which is
accredited with running a chain of more than 100 schools under this name has
promoted The DELHI PUBLIC SCHOOL INDIRAPURAM with 2,50,000 sq.ft. area and is
successfully running the show. DPS Indirapuram is amongst the best of schools
of U.P. and is teaching more than 3500 students presently. The Group commits
its support to this initiative.
In a time when corporate ethics are being called into
question, it’s important to understand that the notion of good corporate
citizenship is not new to Bansals. That’s a commitment we’ve embraced since our
inception nearly a decade ago, and a tradition our firm and employees have
proudly carried out for years.
Just as we seek to be the most trusted provider of lifetime
building solution for our customers, so too do we seek to be a trusted and
responsive number of the communities we serve. We are a longtime member of
Business for Social Responsibility, and a driving force behind the SAKET
EDUCATION SOCIETY.
Among its many endeavors, SAKET
EDUCATION SOCIETY take care of many poor and needy students by providing not
just free education but free books and uniforms too, under the scheme of a
Shiksha Kendra. Society genuinely feel the need to encourage a spirit of
togetherness and an altruistic attitude towards the under privileged sections
of our society. DPS Shiksha Kendra is a concept, it is a challenge; it is a
pioneering effort to reach out to the weaker sections of the society.
DPS Indirapuram - It is the newest member of the DPS Society which is a non
profit, non-proprietary, unaided society which aims at the complete personality
development in its schools. The products should be successful individuals,
responsible social beings and responsive citizens of the world.
Hospitality
In Collaboration with Clarks Inn Bansal group of companies
has launched the first mall hotel in
Room Features & Services
31 Standard rooms, 3 Executive rooms and 1 Deluxe Suite.
Air-conditioning with personal control.
Electronic door lock with key card.
Direct dialing and Internet access.
Banquet Facilities
Banquet hall of approx. 5000 sq. ft. size with seating
capacity 350 pax in Theatre Style, 100 pax in Double U shape, 120 pax in
Classroom style, 400 pax in casual dining.
All audio-visula aids can be arranged as required.
Restaurant
Fine-dining restaurant serving Indian, Oriental &
Continental food.
Buffet for Breakfast, Lunch & Dinner also available
Snacks
served during other meal timings as well.
F&B
Bansal group companies are the master franchises for
Already operational at 3 location: Pacific East – Anand
Vihar, Pacific North – Pitam Pura and Pacific Taj -
We have a commitment of opening 13 more outlets in next 3
years
One of the biggest food court outlets in
A perfect product mix of 22 cuisines
Seating capacity of more then 500 covers
Operational at 2 locations: Pacific East – Anand Vihar and
Pacific Taj -
Promoters
Sudarshan
Kumar Bansal
CHAIRMAN
The driving force behind the group. A true visionary who has
chartered a new success course for the company and taken it to greater heights.
He took up the decision to start business in Bihar, which
was not a safe bet, and proved his mettle and expanded his success story to
He is still actively involved with the group in active
capacity, providing guidance and advice.
Abhishek
Bansal
DIRECTOR
An alumni of
Saket
Bansal
DIRECTOR
A software engineer armed with
an advanced degree in software from the
Brands successfully running atPacific Malls are :-.
v
Multiplex-
Imax (Adlabs) &
v
Hypermarket -
Spenser’s Mega Store
v
Gift Store -
Archie’s
v
Apparels -
Ritu Wears, Bombay Selection, Chunmun, Globus, Tata Webside, Anmol Xclusif,
Free look, Black Berry,, Levi’s, USI, Pepe Jeans, DCM Benetton, Zodiac,
Raymonds, Reebok, Standards, Octave, Topshop, Pais Leys, Biba, Port Folio,
Simran
v
Home
Furnishing- The Home Store
v
Foot Wear-
Lotto, Nike, Adidas
v
Speciality
Stores- Cross World, Swatch, Pepsi, Creambell, Kwality Walls, Candy Treat.
Baskin & Robins
v
Beauty
Parlour- Blans N Bliss
v
Restaurant- Moti
Mahal, Food Court- Pizza Hut, D’s Biryani, D’s Bakery, Dosa Plaza, Chinese,
Wave Sizzlwelers, wave North Indian, Lebanese, Kebab Krazy, Costa’s, Amritsari
Express
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.70 |
|
|
1 |
Rs.80.80 |
|
Euro |
1 |
Rs.54.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|