MIRA
INFORM REPORT
|
Report Date : |
31.12.2008 |
IDENTIFICATION DETAILS
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Name : |
MEHROTRA BUILDCON PRIVATE LIMITED |
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Registered Office : |
9, Industrial Estate, Satna- 485
001, Madhya Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.09.1980 |
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Com. Reg. No.: |
10-1657 |
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CIN No.: [Company
Identification No.] |
U2520MP1980PTC001657 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JBPM05096A |
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PAN No.: [Permanent
Account No.] |
AAEFA0814A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Real Estate Developers |
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 166000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new established real estate developer. Directors are respectful, experienced and qualified businessmen. Their trade relations are fair. Financial position is satisfactory. 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 : |
9, Industrial Estate, Satna- 485
001, |
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Tel. No.: |
91-7672-504575 |
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Fax No.: |
91-7672-229004 |
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E-Mail : |
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Corporate Office
: |
Alpha 1, Greater Noida - 201 301, |
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Mobile No.: |
91-9212096571 |
DIRECTORS
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Name : |
Mr. Ajay Mehrotra |
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Designation : |
Managing Director |
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Address : |
9, Industrial Estate, Satna-
485001, |
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Date of Birth/Age : |
30.01.1956 |
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Experience : |
More than 21 Years |
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Date of Appointment : |
30.06.1994 |
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Name : |
Mr. Atul Mehrotra |
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Designation : |
Joint Managing
Director |
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Address : |
9, Industrial Estate, Satna-
485001, |
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Date of Birth/Age : |
02.10.1959 |
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Experience : |
More than 21 Years |
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Date of Appointment : |
30.06.1994 |
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Name : |
Mr. P M Merhrotra |
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Designation : |
Whole time
Director |
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Address : |
49, Civil Lines, Satna-485001, |
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Date of Birth/Age : |
16.01.1929 |
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Experience : |
More than 41 Years |
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Date of Appointment : |
30.06.1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2007
|
Names of
Shareholders |
|
No. of Shares |
|
P M Mehrotra |
|
10330 |
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Ajay Mehrotra |
|
20400 |
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Atul Mehrotra |
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17900 |
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Preeti Mehrotra |
|
310 |
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Neelam Mehrotra |
|
320 |
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Kirti Mehrotra |
|
588 |
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Sarla Mehrotra |
|
8240 |
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Hukumat Rai
Narayan Das |
|
1 |
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Dhirendra Pratap
Singh |
|
1 |
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Suman Daga |
|
1 |
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G.B. Mehrotra |
|
1 |
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Sarla Jain |
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1 |
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Rajesh Jain (
HUF) |
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1 |
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Ravilal Jain |
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1 |
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Chavilal Jain |
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1 |
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Vandana Gupta |
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1 |
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Gopal Das
Chavadia |
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1 |
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Mrinal Merchandis
And Impex |
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20000 |
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P.M Mehrotra (HUF) |
|
20 |
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Ajay Mehrotra
(HUF) |
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20 |
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Atul Mehrotra (
Huf) |
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20 |
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Ajay Mehrotra and
Neelam Mehrotra |
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200 |
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Suruchi Singh |
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2 |
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Suryodaya Tie-up
(Private) Limited |
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1250 |
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Lupin Vinimay
(Private) Limited |
|
1000 |
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Pragya Commerce
(Private) Limited |
|
1000 |
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Sunshine Sales
Private Limited |
|
800 |
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Wondermax
Marketing Private Limited |
|
900 |
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Apsara
Consultancy Private Limited |
|
1600 |
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C.S. Puri |
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1 |
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Kaling Oberai |
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1 |
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Lord Enclaves (Private
) Limited |
|
450 |
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Kiran Securities
(Private) Limited |
|
800 |
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Fitworth
Construction (Private) Limited |
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1500 |
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Total |
|
87662 |
As on 31.03.2007
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List of
Allottees |
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No. of Shares Allotted |
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Lord Enclave
(Private) Limited |
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450 |
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Kiran Securities
(Private ) Limited |
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300 |
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Kiran Securities
(Private) Limited |
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500 |
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Fitworth
Constructions (Private) Limited |
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1500 |
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Total |
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2750 |
As on 31.03.2008
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List of
Allottees |
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No. of Shares Allotted |
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Raxon Motor
Finance Private Limited |
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500 |
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Ragini Merchants
Private Limited |
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1000 |
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Total |
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1500 |
AS ON
296.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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33.42 |
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Directors
or relatives of directors |
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66.56 |
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Other
top fifty shareholders |
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0.02 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Real Estate Developers |
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GENERAL INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
·
ICICI Bank Limited, Kautai Niwas, Russel
Chowk, Jabalpur-482001, ·
Bank of |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M.R Daga and Company Chartered Accountants |
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Address : |
TMD Complex, |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/-
each |
Rs.10.000
Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
87662 |
Equity Shares |
Rs.100/-
each |
Rs.8.766
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.766 |
8.491 |
8.491 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.383 |
15.063 |
10.066 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
33.149 |
23.554 |
18.557 |
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LOAN FUNDS |
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1] Secured Loans |
64.351 |
42.132 |
29.142 |
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2] Unsecured Loans |
56.686 |
20.671 |
16.754 |
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TOTAL BORROWING
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121.037 |
62.803 |
45.896 |
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Deferred Tad Liabilities
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0.000 |
0.000 |
0.000 |
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TOTAL
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154.186 |
86.357 |
64.453 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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71.282 |
45.449 |
28.567 |
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Capital work-in-progress
|
7.603 |
11.732 |
0.000 |
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INVESTMENT
|
0.021 |
0.021 |
0.021 |
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DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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32.295 |
10.560 |
2.121 |
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Sundry Debtors |
36.790 |
23.140 |
16.889 |
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Cash & Bank Balances
|
26.321 |
15.299 |
9.214 |
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Other Current Assets
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1.596 |
1.027 |
16.935 |
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Loans & Advances
|
40.276 |
29.977 |
16.211 |
Total Current Assets
|
137.278
|
80.003
|
61.370 |
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Less : CURRENT
LIABILITIES & PROVISIONS
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Current Liabilities
|
59.786 |
48.826 |
24.429 |
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Provisions
|
2.212
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2.022
|
1.076 |
Total Current Liabilities
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61.998 |
50.848
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25.505 |
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Net Current Assets
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75.280 |
29.155 |
35.865 |
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
0.000 |
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TOTAL
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154.186 |
86.358 |
64.453 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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264.256 |
189.859 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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264.256 |
189.859 |
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Profit/(Loss) Before Tax |
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9.024 |
7.095 |
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Provision for Taxation |
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[2.180] |
[1.928] |
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Profit/(Loss) After Tax |
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11.204 |
9.023 |
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Expenditures : |
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Depreciation & Amortization |
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10.130 |
7.223 |
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Other Expenditure |
|
245.102 |
175.541 |
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Total
Expenditure |
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255.232 |
182.764 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
4.23
|
4.75
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
3.40
|
3.74
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.33
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5.66
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NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.27
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0.30
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.52
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4.83
|
3.84 |
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Current Ratio (Current Asset/Current Liability) |
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2.21
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1.57
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2.41 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
·
Plant
and Machinery
a)
Machinery, Dumper, Tanker and Shuttering Plates
b)
Tata Mobile Jeep
c)
Motor Cycle, Scooter and Luna
d)
Air Conditioner
e)
Caterpillar Dozer D8R
·
New
Commercial Vehicles
·
Jeep
and Cars
·
Computer
and Office Equipments
·
New
Computers
·
Tools
and Equipments
·
Furniture
and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.50 |
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|
1 |
Rs.70.02 |
|
Euro |
1 |
Rs.67.95 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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. |
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 |
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