MIRA
INFORM REPORT
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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ARISTO REALTY DEVELOPERS LIMITED |
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Registered
Office : |
Trade World, ‘C’ Wing, 16th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.01.1987 |
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Com. Reg. No.: |
11-042112 |
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Capital
Investment/ Paid-up Capital: |
Rs.400.000 Millions |
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CIN No.: [Company Identification
No.] |
U45200MH1987PLC042112 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19015D MUMA21491B |
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PAN No.: [Permanent Account No.] |
AAACL0593J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Construction of Commercial Properties and Residential Premises |
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No. of
Employees: |
55 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 5780000 |
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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 an established company having satisfactory track record. There
appears dip in the profitability in the current year. However, net worth of
the company appears to be strong. Trade relations are reported to be fair.
Business is active. Payments are reported to be regular 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, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Riyaz Shaikh |
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Designation : |
General Manager Finance |
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Contact No.: |
91-923149239 |
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Date: |
26.07.2012 |
LOCATIONS
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Registered Office : |
Trade World, ‘C’ Wing, 16th Floor, |
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Tel. No.: |
91-22-30418111/30418016 |
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Fax No.: |
91-22-30418260/30418259 |
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Email: |
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Web site: |
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Area : |
10000 sq. ft |
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Location : |
Rented |
DIRECTORS
As On 30.09.2011
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Name : |
Mr. Rustam Jehangir Gagrat |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
05.11.1959 |
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Date of Appointment : |
02.12.2006 |
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Din No.: |
00096581 |
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Other Directorship:
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Name : |
Mr. Ravi Babulal Agarwal |
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Designation : |
Managing Director |
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Address : |
B/71, Dariyal Mahal 80, |
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Date of Birth/Age : |
25.10.1971 |
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Date of Appointment : |
19.03.2004 |
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Din No.: |
00017424 |
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Other Directorship:
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Name : |
Mr. Sajan Jacob |
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Designation : |
Director |
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Address : |
Flat No. A -204, Noah’s Park, IC Colony Road, Mandapeshwar, Mumbai-
400101, Maharashtra, India |
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Date of Birth/Age : |
01.01.1960 |
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Date of Appointment : |
20.06.2011 |
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Din No.: |
02772844 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Riyaz Shaikh |
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Designation : |
General Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Lloyds Steel Industries limited, |
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10000000 |
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Balavati Properties Private Limited, |
|
7000000 |
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Babhri Properties Private Limited, |
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19000000 |
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Shree Global Tradfin Limited, |
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75000000 |
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Blossom Stockfin Limited, |
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15000000 |
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Teamwork Stockfin Limited, |
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15000000 |
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Prawan Leasing and Finance Private Limited, |
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19000000 |
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Total |
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160000000 |
As on 30.09.2011
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Category |
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Percentage |
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Bodies corporate |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction of Commercial Properties and Residential Premises |
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GENERAL INFORMATION
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No. of Employees : |
55 (Approximately) |
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Bankers : |
Union Bank of |
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Banking
Relations : |
-- |
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Financial Institution |
Tata Capital Limited, DR. V.B Gandhi Marg, Fort, Mumbai -40001, |
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Auditors : |
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Name : |
Malpani and Associates Chartered Accountant |
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Address : |
307 Chartered House |
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Tel. No.: |
91-22-40311900 |
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Fax No.: |
91-22-40311901 |
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E-Mail : |
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Web site: |
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Pan No.: |
AADPM2684D |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
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160000000 |
Equity Share |
Rs.2.5/- each |
Rs.400.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
160000000 |
Equity Share |
Rs.2.5/- each |
Rs.400.000Millions |
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As on 30.09.2011
Authorised Capital : Rs.500.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.400.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
400.000 |
400.000 |
400.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1044.866 |
1037.050 |
881.411 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1444.866 |
1437.050 |
1281.411 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
1.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
1.000 |
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DEFERRED TAX LIABILITIES |
0.919 |
0.489 |
0.000 |
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TOTAL |
1445.785 |
1437.539 |
1282.411 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.567 |
10.317 |
8.856 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
41.112 |
41.188 |
41.917 |
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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 |
812.819
|
736.078 |
749.242 |
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Sundry Debtors |
548.834
|
163.893 |
187.294 |
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Cash & Bank Balances |
2.240
|
0.429 |
0.584 |
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Other Current Assets |
99.575
|
99.276 |
77.697 |
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Loans & Advances |
331.940
|
753.087 |
887.476 |
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Total
Current Assets |
1795.408
|
1752.763 |
1902.293 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
83.007
|
63.341 |
33.631 |
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Other Current Liabilities |
121.614
|
182.078 |
552.428 |
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Provisions |
196.681
|
121.310 |
84.596 |
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Total
Current Liabilities |
401.302
|
366.729 |
670.655 |
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Net Current Assets |
1394.106
|
1386.034 |
1231.638 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1445.785 |
1437.539 |
1282.411 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
501.362 |
451.785 |
150.595 |
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|
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Other Income |
11.379 |
0.898 |
9.834 |
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|
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TOTAL |
512.741 |
452.683 |
160.429 |
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Less |
EXPENSES |
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Consumption materials changes inventories |
463.159 |
226.696 |
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Employee related expenses |
20.900 |
13.657 |
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Administrative selling other expenses |
17.827 |
11.660 |
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TOTAL |
501.886 |
252.013 |
153.816 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.855 |
200.670 |
6.613 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.789 |
0.689 |
0.568 |
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|
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|
|
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PROFIT BEFORE
TAX |
10.006 |
199.981 |
6.045 |
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Less |
TAX |
2.250 |
44.342 |
0.210 |
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|
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PROFIT AFTER TAX
|
7.816 |
155.639 |
5.835 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
625.208 |
469.569 |
463.734 |
|
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|
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|
|
|
BALANCE CARRIED
TO THE B/S |
633.024 |
625.208 |
469.569 |
|
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|
|
|
|
Earnings Per
Share (Rs.) |
0.05 |
0.97 |
0.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.12 |
34.38 |
3.63 |
|
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.99 |
44.26 |
4.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.55 |
11.34 |
0.31 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.14 |
0.00 |
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28 |
0.25 |
0.52 |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.47 |
4.78 |
2.84 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
PAN of
Proprietor/Partner/Director, if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
No |
Note: The Registered office of the company has been
shifted from Modern Centre, 'B' Wing, 2nd Floor, Sane Guruji Marg, Mahalaxmi,
Mumbai- 400 011, Maharashtra India to the present address w.e.f.01.01.2011
OPERATIONS
The real estate market during the year review was good. The
progress of construction activities of on going projects is satisfactory.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U45200MH1987PLC042112 |
|
Name of the
company |
ARISTO REALTY DEVELOPERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Trade Wrold, ‘C’ Wing, 16th Floor, Email: rbagarwal@lloyds.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
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Particular of
charge holder |
Tata Capital Limited, DR. V.B Gandhi Marg, Fort, Mumbai -40001, |
|
Nature of
instrument creating charge |
Memorandum of entry recording mortgage by deposit of title deeds dated
30.01.2012 (being a loan of Rs. 500.000 Millions
availed by M/S. Uttam Galva Metallics limited from Tata Capital
Limited) |
|
Date of
instrument Creating the charge |
30.01.2012 |
|
Amount secured by
the charge |
Rs.500.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: Rate of Interest @ LTLR minus 4% p.a. Currently Long Term Lending Rate (LTLR) @ 18% p.a. Terms of repayment: Principal-to be repaid through equal monthly installments commencing from the end of 8th month from the date of first disbursement. Interest-to be paid on monthly basis during moratorium period and also during the tenure of the facility. Margin: N.A Extent and operation of the charge:. The charge extends to the due repayment of the loan of Rs. 500.000 Millions including the interest, additional interest, costs, charges, expenses and all other monies payable by Uttam Galva Metallics Limited to Tata Capital Limited under the Facility Agreement dated 29.12.2011. In the event of default in payment of interest or repayment of principal amount of the Loan the Borrower shall pay to the Lender, further interest @ 3% p.m. as penal interest. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Four residential flats totally admn about 6344 sq.ft. Carpet Area
being Flat No. 2501, 2502, 2503 and 2504 on the 24th floor of the building
Pearl Residency, situated at Plot No. 956, |
FIXED ASSETS
·
Premises
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Motor Car
AS PER WEB SITE
DETAILS
PROFILE
Subject is engaged in construction and Real Estate Development
activity since year 1994. Within a span of 17 years, Subject has to its credit
various prestigious projects in Mumbai, Pune and Tirupur. ARDL has successfully
completed and handed over more than 1200000 Square Feet making ARDL one of the
most respected and reliable name in real estate Industry. Set apart by its
commitment to value addition and timely delivery, Subject is moving forward
towards newer ventures and greater challenges to enhance the lifestyles.
PROJECT TECHNOLOGY
·
Raw material Testing on site: On
site testing lab tests cement, sand, steel and all the raw materials, ensuring
that the structural strength and quality is never compromised upon.
·
Form finish shuttering: Form
finished shuttering are also used for slabs. This use of global
technology gives aesthetic look to the concrete surface without any
joints. Higher grade and durable concrete are designed based on
particular application.
·
Shear wall technique: Shear wall
technology helps spread the load over a wider area, which makes the structure
more stable and durable.
·
Long Lasting Exteriors: A better
quality exterior coating withstands the conditions created by man-made and
natural elements. Polypropylene fibre mixed with water-proofing compound
is added to give a very solid face for external plaster. The
100% stucco/acrylic paint gives an excellent long-lasting finish to the
building and increases flexural strength, which prevents seepages and cracks.
·
No Leakages: To ensure
leak-proof connections, 3 times greater pressure is exerted while testing
plumbing joints
·
Planning and designing: All
projects are meticulously planned so as to maximize utilization of space and
avoid any wastage. Concrete mix is designed specifically for each
and every application, to give the requisite high strength properties to
concrete.
Set apart by its commitment to value addition and timely
delivery, the company is moving forward towards newer ventures and greater
challenges to enhance the lifestyles.
It has been always their endeavor to maintain highest
standard of quality, timely delivery and to sell properties with clear
and marketable title. Efforts are made to ensure best services to the
prospective buyers.
Latest developments in the world of construction and
innovative techniques are embraced to provide better amenities, living up to
the commitments and delivering projects, faster than ever before.
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.56.38 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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 |
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.