MIRA
INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARORA CONSTRUCTION CO. PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-19, 3rd Floor, Hauz Khas, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.12.1990 |
|
|
|
|
Com. Reg. No.: |
55-042406 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.970 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1990PTC042406 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA05091C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Civil Engineers, Builders and Building Contractor |
|
|
|
|
No. of Employees
: |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
E-19, 3rd Floor, Hauz Khas, |
|
Tel. No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
5 E/10 Bunglow Plots,
NIT, |
|
Tel. No.: |
91-129-2413741 |
|
Fax No.: |
91-129-4033741 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Gaurav Arora |
|
Designation : |
Director |
|
Address : |
5e / 10 Bunglow , N.I.T. Faridad - 121007, |
|
Date of Birth/Age : |
08.09.1972 |
|
Date of Appointment : |
01.01.1994 |
|
DIN No.: |
01188691 |
|
Name : |
Mr. Vipin Arora |
|
Designation : |
Director |
|
Address : |
H.N.1332 Sector – 14, |
|
Date of Birth/Age : |
02.09.1963 |
|
Date of Appointment : |
14.12.1990 |
|
DIN No.: |
01210652 |
|
Name : |
Mr. Sunder Lal Arora |
|
Designation : |
Director |
|
Address : |
5e / 10 Bunglow , N.I.T. Faridad - 121007, |
|
Date of Birth/Age : |
22.07.1936 |
|
Date of Appointment : |
01.12.2002 |
|
DIN No.: |
01284810 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vipin Arora |
|
2001 |
|
Sunder Lal Arora |
|
2001 |
|
Gaurav Arora |
|
2000 |
|
S.L. Arora and Sons HUF |
|
1500 |
|
Phool Arora |
|
200 |
|
|
|
|
|
Total |
|
7702 |
List of Allottes
|
Names of Allottes |
|
No. of Shares
Allotted |
|
Vipin Arora |
|
4000 |
|
Sunder Lal Arora |
|
4000 |
|
Gaurav Arora |
|
4000 |
|
|
|
|
|
Total |
|
12000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Civil Engineers, Builders and Building Contractor |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T. R. Sood and Company Chartered Accountant |
|
Address : |
C-29 Lower Ground Floor, Pamposh Enclave,G. K. -1, New Delhi - New
Delhi, Delhi, India |
|
PAN.: |
ADLPR4775P |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7702 |
Equity Shares |
Rs.100/-
each |
Rs.0.770
Millions |
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19702 |
Equity Shares |
Rs.100/-
each |
Rs.1.970
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.770 |
0.770 |
0.770 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.812 |
19.344 |
16.332 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.582 |
20.114 |
17.102 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
33.087 |
36.780 |
12.885 |
|
|
2] Unsecured Loans |
6.496 |
2.996 |
3.044 |
|
|
TOTAL BORROWING |
39.583 |
39.776 |
15.929 |
|
|
DEFERRED TAX LIABILITIES |
1.705 |
1.420 |
1.332 |
|
|
|
|
|
|
|
|
TOTAL |
68.870 |
61.310 |
34.363 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.589 |
25.275 |
16.287 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
6.063 |
|
|
Sundry Debtors |
5.812
|
18.011 |
27.825 |
|
|
Cash & Bank Balances |
1.210
|
2.033 |
4.448 |
|
|
Other Current Assets |
43.986
|
13.384 |
0.000 |
|
|
Loans & Advances |
47.284
|
38.615 |
39.412 |
|
Total
Current Assets |
98.292
|
72.043 |
77.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.478
|
10.847 |
36.701 |
|
|
Other Current Liabilities |
28.833
|
19.367 |
18.577 |
|
|
Provisions |
2.700
|
5.794 |
4.394 |
|
Total
Current Liabilities |
50.011
|
36.008 |
59.672 |
|
|
Net Current Assets |
48.281
|
36.035 |
18.076 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
68.870 |
61.310 |
34.363 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Work Done |
211.422 (Gross Receipt) |
172.444 |
250.212 |
|
|
|
Other Income |
NA |
0.786 |
1.902 |
|
|
|
TOTAL |
NA |
173.230 |
252.114 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Construction Expenses |
|
152.526 |
228.569 |
|
|
|
Personal Expenses |
|
4.111 |
2.116 |
|
|
|
Administrative Expenses |
|
17.341 |
9.698 |
|
|
|
Increase / Decrease in closing stocks |
|
(7.321) |
0.998 |
|
|
|
Interest |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
234.682 |
166.657 |
241.381 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.654 |
6.573 |
10.733 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.585 |
2.074 |
1.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.069 |
4.499 |
9.603 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.584 |
1.488 |
1.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.485 |
3.011 |
8.225 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
--
|
1.74 |
3.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
2.61 |
3.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.63
|
4.62 |
10.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.22 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.25
|
3.77 |
4.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
2.00 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered office of the company has been sifted from “28/52 West Patel
Nagar,
FORM 8
|
Corporate identity number of the company |
U74899DL1990PTC042406 |
|
Name of the company |
ARORA CONSTRUCTION CO. PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
E-19, 3rd Floor, Hauz Khas, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90043223 |
|
Type of charge |
|
|
Particular of charge holder |
Oriental Bank Of Commerce Neelam Chowk, N I T, e-mail ID : cakkminocha@gmail.com
|
|
Nature of instrument creating charge |
Supplemental Agreement to Secure Credit/Loan Facilities. Date
30/01/2009 |
|
Date of instrument Creating the charge |
30.01.2009 |
|
Amount secured by the charge |
Rs.90.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate
of interest Rate of Interest : Cash Credit :@1% below PLR with a minimum of
@11.50% p.a on monthly rests subject to change from time to time linked with
BPLR/ RBI Guidelines & for Overdraft : @0.50% above PLR with a minimum
@13.00% p.a on monthly rests subject to change from time to time linked with
BPLR/ RBI Guidelines. Penal Rate of Interest : @2% p.a over and above the normal rate of
Interest. Terms of
repayment On Demand. Margin Stocks and Receivables- 25% Bank Guarantee 10% Overdraft 50% Extent and
operation of the charge First Charge over Stock, Receivables, Other Current Assets of the
Company. Hypothecation of Plant and Machinery and Other Fixed Assets (both
present and future) of the Company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First Charge over Stock, Receivables, Other Current Assets of the
Company. Hypothecation of Plant and Machinery & Other Fixed Assets (both present
and future) of the Company. |
|
Date of instrument modifying the charge |
01.12.2007 |
|
Particulars of the present modification |
Limit of amount secured increased from Rs.80.000 Millions to Rs.90.000
Millions Rate of Interest : Cash Credit :@1% below PLR with a minimum of
@11.50% p.a on monthly rests subject to change from time to time linked with
BPLR/ RBI Guidelines & for Overdraft : @0.50% above PLR with a minimum of
@13.00% p.a on monthly rests subject to change from time to time linked with
BPLR/ RBI Guidelines. Penal Rate of Interest : @2% p.a over and above the normal rate of
Interest. |
FIXED ASSETS
- Plant &
Machinery
- Computer
- Car
- Scooter
- Furniture
& Fixture
- Office
Equipment
- Cycle
- Air Conditioner
- Refrigerator
- Electrical
Equipments
- Tractor
- Tractor
Trolly
- Water Tanker
WEBSITE DETAILS
PROFILE
ARORA
CONSTRUCTION'S Group is a comprehensive organisation of
professionals that include Engineers, Architects, and Interior Designers and
Property Consultants. Since its Parent Company was founded in 1956, the firm
has completed over 140 projects. These projects range from Hospitals,
Universities,
Their Primary raison D'etre is to improve global standards
of living while contributing to the advancement of society and development of
the world. Our Philosophy is Simple and Direct. Each Space we Plan as
Consultants or build as contractors must work efficiently for owners, built in
time and within the specified budget. It must make an aesthetic contribution to
the society. The company is an ISO 9001 : 2000 Certified by JAS-ANZ for Qulity
Management Systems
Their objective is to be an earth-friendly company, to be one that puts
people first, and to be one that is able to cerate new sense of value's. If we
can achieve these goals, Arora Construction's growth will know no bounds. The
Group's other Affiliates S.L. Arora and Co. specialise in Heavy Engineering and
RMG Builders specialise in Interiors, External Development works, Landscaping
etc. etc.. At Arora Construction's, the quality aspect is kept uppermost in
ming while executing the projects. It is our constant endeavor to keep abreast
of the latest technological development in the construction industry. The
proven reliability, resourcefulness, timely completion and quality construction
has enabled Arora Construction's develop a good relationship with its clients.
Our Professional and Friendly approach has won us numerous repeat orders from
clients such as TATA's. Lakhani's, Atlas Cycle, Shreeji and
PROJECTS
Project
# 1
Construction
of Shopping Mall, Multiplex cum Hotel for M/s Parasvnath Developers Limited,
Mohali (
Project
# 2
Construction of Residential Complex “ALOHA” at Rishikesh, Uttaranchal. Total 174 Nos. Dwelling units with total Civil works amounting to Rs.20000 Millions is to be completed within 12 months.
Projects
# 3
Civil Works for shed and ancillary building at CR Project,
Project
# 4
Civil Works for
Project
# 5
Construction of
Project
# 6
Construction of Industrial Unit for Lakhani (I) Limited. At
Plot No. 22, 23 and 24, I.I.E., B.H.E.L. Haridwar. The Total Plot Area is 10 acres.
The covered area of the First Phase (One Shed) is 30,000 Sft.
Construction
of
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.49.67 |
|
|
1 |
Rs.76.51 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
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 |
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.