MIRA
INFORM REPORT
|
Report Date : |
22.01.2010 |
IDENTIFICATION DETAILS
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Name : |
DELLA ARCHITECTS PRIVATE LIMITED (w.e.f. 13.03.2008) |
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Formerly Known
As : |
DELLA ITALIA CONSULTANTS PRIVATE LIMITED |
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Registered
Office : |
Della House, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.08.2006 |
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Com. Reg. No.: |
11-163970 |
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CIN No.: [Company Identification
No.] |
U74140MH2006PTC163970 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Architects, Designers and Consultants. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 60000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered/Architecture/ Interior Office : |
Della House, |
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Tel. No.: |
91-22-6669 9300 (30 lines)/ 67451400 |
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Fax No.: |
91-22-6669 9333 |
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E-Mail : |
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Website : |
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Projects Office: |
Rati Villa, |
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Tel. No.: |
91-22-66509000 (30
lines), 2386 7411/ 13 |
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Fax No.: |
91-22-2380 1245, 91-22-6650 9063 |
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Factory : |
Della Tecnica, 23, Somnath Industrial Estate, |
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Tel. No.: |
91-260-224 1945 |
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Fax No.: |
91-260-224 2199 |
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E-Mail : |
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Della Enclave/
Adventure : |
Kunegaon, Lonavala – 410401, |
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Tel. No.: |
91-02114-260 000 (30 Lines), 91-02114-269 567 |
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Fax No.: |
91-02114-269 541 |
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Architecture and MEP engineering Office : |
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Tel. No.: |
91-22-67451400 (30 Lines) |
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Fax No.: |
91-22-67451444 |
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E-Mail : |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Jimmy Rusi Mistry |
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Designation : |
Director |
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Address : |
781, M Joshi Road, Parsi Colony, Dadar East, Mumbai – 400014, |
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Date of Birth/Age : |
12.06.1971 |
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Date of Appointment : |
23.08.2006 |
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Pan No.: |
AADPM2510Q |
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Name : |
Mrs. Delna Jimmy Mistry |
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Designation : |
Director |
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Address : |
781, M Joshi Road, Parsi Colony, Dadar East, Mumbai – 400014, |
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Date of Birth/Age : |
08.09.1969 |
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Date of Appointment : |
23.08.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Jimmy Rusi Mistry |
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5000 |
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Delna Jimmy Mistry |
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5000 |
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Total |
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10000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Architects, Designers and Consultants. |
GENERAL INFORMATION
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Bankers : |
· New India Co-operative Bank Limited New |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A. P. Dalal and Company Chartered Accountant |
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Address : |
645, J S S Road, 2nd Floor, Room No.12-A, Near Dhobi Talao,
Mumbai -400002, |
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Tel No.: |
91-22-22966071 |
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Fax No.: |
91-22-22037106 |
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Email : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
15.658 |
15.302 |
0.970 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.758 |
15.402 |
1.070 |
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LOAN FUNDS |
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1] Secured Loans |
0.551 |
0.835 |
0.000 |
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2] Unsecured Loans |
2.540 |
2.540 |
2.647 |
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TOTAL BORROWING |
3.091 |
3.375 |
2.647 |
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DEFERRED TAX LIABILITIES |
0.592 |
0.620 |
0.275 |
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TOTAL |
19.441 |
19.397 |
3.992 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.276 |
8.114 |
4.185 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.060 |
0.061 |
0.000 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
8.771
|
6.619 |
4.905 |
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Cash & Bank Balances |
0.667
|
1.249 |
2.080 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
15.398
|
23.082 |
1.167 |
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Total
Current Assets |
24.836
|
30.950 |
8.152 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
0.296
|
0.712 |
2.783 |
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Other Current Liabilities |
9.888
|
10.824 |
5.304 |
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Provisions |
0.547
|
8.192 |
0.260 |
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Total
Current Liabilities |
10.731
|
19.728 |
8.347 |
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Net Current Assets |
14.105
|
11.222 |
(0.195) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
19.441 |
19.397 |
3.992 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
16.041 |
77.491 |
11.206 |
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Other Income |
NA |
0.029 |
4.096 |
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TOTAL (A) |
NA |
77.520 |
15.302 |
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Less |
EXPENSES |
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Personal Expenses |
|
26.188 |
9.330 |
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Administrative Expenses |
|
26.477 |
3.755 |
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TOTAL (B) |
|
52.665 |
13.085 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
24.855 |
2.217 |
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NA |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.062 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
24.793 |
2.217 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.185 |
0.111 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.437 |
22.608 |
2.106 |
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Less |
TAX (H) |
0.080 |
7.277 |
0.435 |
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PROFIT AFTER TAX
(G-H) (I) |
0.357 |
15.331 |
1.571 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
0.970 |
(0.601) |
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BALANCE CARRIED
TO THE B/S |
-- |
16.301 |
0.970 |
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Earnings Per
Share (Rs.) |
35.65 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
19.78 |
10.27 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.72
|
29.18 |
18.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.45
|
57.87 |
17.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
1.47 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
1.50 |
10.27 |
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Current Ratio (Current Asset/Current Liability) |
|
2.31
|
1.57 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U74140MH2006PTC163970 |
|
Name of the
company |
Della Architects
Private Limited |
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Address of the
registered office or of the principal place of business in |
Della House, |
|
This form is for |
Creation of charge |
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Type of charge |
Movable Property (not being pledge) |
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Particular of
charge holder |
· New India Co-operative Bank Limited New |
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Nature of
instrument creating charge |
Hypothecation
Agreement (Motor Vehicles) |
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Date of
instrument Creating the charge |
23.11.2010 |
|
Amount secured by
the charge |
Rs.1.291 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: @ 10.50% p.a. or
at such other rate, as may be decided by the Bank, From time to time. Terms of
Repayment: Repayment of
Vehicles Loan of Rs.1.291 Millions by way of 84 EMI’s Margin: As may be decided
by the Bank, from time to time Extent and
Operation of the charge: To secure the due
repayment of Vehicles Loan of Rs.1.291 Millions, together with interests, costs,
charge, expenses thereon, granted by the Bank of the company. |
|
Particulars of
the property charged |
Vehicles namely
New corolla altis Car of the company. |
FIXED ASSETS:
· Books and Periodicals
· Computers
· Computers Software
· Furniture and Fixtures
· Office Equipments
· Vehicles
WEBSITE DETAILS:
PROFILE
At subject, they posses a vibrant vision, a zest for
innovation and a commitment to sustainability. Started In 1996. Subject has
been operating at an award winning level for over a decade now. Today with over
1600 professionals networked across five offices in
The people are their key point of difference, and they have always sought to
attract the highest caliber of industry professionals. They boast a pool of
talented and experienced professionals offering an unparalleled breadth of
services in Architecture, Master Planning, Design and Build, Interiors,
Development, Construction and MEP Engineering Services with a combined
portfolio of over a few million sq. ft. of award-winning projects across
industries throughout the country. Their designers are known for their
innovation, leadership and exceptional client service.
A lot of repeat business reflects the trust and value their clients place in
the experienced Architects. Offering most of the essential services in-house
also contributes to better execution of projects by streamlining the team's
communication and helps in delivering the projects in the given time frame and
manage the costs effectively.
The ability to integrate all these services as individual profit centers, yet
posing as a unified creative force, is in synch with what today's world needs.
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.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.