|
Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
EIFFEL DEVELOPERS AND REALTORS LIMITED (W.e.f. 18.12.2007) |
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|
Formerly Known
as: |
EIFFEL DEVELOPERS AND REALTORS PRIVATE LIMITED |
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Registered
Office : |
Commerce Avenue, 4th Floor, Off. No. 21/22, Above PNG
Jewellers, Paud Road, Kothrud, Pune - 411038, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.09.2004 |
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Capital
Investment / Paid-up Capital : |
Rs.194.550 Millions |
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CIN No.: [Company Identification
No.] |
U45209PN2004PLC19772 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE01770G |
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PAN No.: [Permanent Account No.] |
AABCE5318F |
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Legal Form : |
A closely Held Public Limited Liability Company |
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Line of Business
: |
Service
Provider of Builders Developers, Real Estate Agents. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4578528 |
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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 an 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.
INFORMATION DENIED BY
|
Name : |
Mr. Trupti |
|
Designation : |
Finance Manager |
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Contact No.: |
91-20-66858888 |
|
Date : |
14.03.2012 |
LOCATIONS
|
Registered Office : |
Commerce Avenue, 4th Floor, Off. No. 21/22, Above PNG
Jewellers, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
Tel. No.: |
91-20-66858888 |
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Fax No.: |
91-20-66858889 |
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Corporate Office : |
929, Mantri House, 1st Floor, Near Dnyaneshwar Paduka
Chowk, F C Road, Pune – 411004, Maharashtra, India |
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Tel. No.: |
91-20-66858888 |
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Fax No.: |
91-20-66858889 |
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E-Mail : |
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Branches : |
Terminal 9, G-3, Ground Floor, Near Domestic Airport, Next to Hotel
Sahara Star, Vile Parle, East, Mumbai – 400057, Maharashtra, India |
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Tel. No.: |
91-22-67250851 |
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Fax No.: |
91-22-67250852 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rahul Rasiklal Nahar |
|
Designation : |
Director |
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Address : |
127, 1st Floor, Patil Plaza, Near Sarasbaug, Pune – 411009,
Maharashtra, India |
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Date of Birth/Age : |
11.05.1975 |
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Date of Appointment : |
22.09.2004 |
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Date of Ceasing: |
17.08.2010 |
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|
Name : |
Mr. Vishal Rasiklal Nahar |
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Designation : |
Director |
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Address : |
150 Ratnadeep Mukund, Pune – 411009, Maharashtra, India |
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Date of Birth/Age : |
02.04.1979 |
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Date of Appointment : |
22.09.2004 |
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Date of Ceasing : |
17.08.2010 |
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|
Name : |
Mr. Shrenik Vijaykumar Balai |
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Designation : |
Director |
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Address : |
2/53, New Ajintha Avenue Paud Road, Kothrud, Pune – 411029,
Maharashtra, India |
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Date of Birth/Age : |
06.01.1988 |
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Date of Appointment : |
16.01.2009 |
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Date of Ceasing : |
17.08.2010 |
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Name : |
Mr. Shrenik Shashikant Surana |
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Designation : |
Director |
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Address : |
546 Bhagwan Mahavir Path, Manmad, Nashik – 423104, Maharashtra, India |
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Date of Birth/Age : |
31.08.1978 |
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Date of Appointment : |
16.01.2009 |
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Date of Ceasing : |
17.08.2010 |
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Name : |
Ms. Priyanka Raju Karnawat |
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Designation : |
Director |
|
Address : |
Mantri Market, F C Road, Pune – 411004, Maharashtra, India |
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Date of Birth/Age : |
26.12.1984 |
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Date of Appointment : |
16.01.2009 |
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Date of Ceasing : |
12.12.2009 |
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Name : |
Mr. Shekhar Dattatray Savlekar |
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Designation : |
Director |
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Address : |
Kamatheagar Vagh Vasti Somji Basastep, Javal Kondhava Bu, Pune –
411048, Maharshtra, India |
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Date of Birth/Age : |
19.10.1969 |
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Date of Appointment : |
12.12.2009 |
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|
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Name : |
Mr. Dilip Ramkrishna Khapre |
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Designation : |
Director |
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Address : |
A-13, Viola Near Cipla Foundation Pune – 411058, Maharashtra, India |
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Date of Birth/Age : |
22.08.1950 |
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Date of Appointment : |
17.08.2010 |
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Name : |
Mr. Sunilkumar Ashok Oza |
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Designation : |
Director |
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Address : |
86/16, Sandhya Society, Jainath Sahakar Nagar, Pune – 411009,
Maharashtra, India |
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Date of Birth/Age : |
22.07.1985 |
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Date of Appointment : |
17.08.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Trupti |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Rasiklal Nahar |
|
13345764 |
|
Vishal Rasiklal Nahar |
|
4669200 |
|
Christmas Rose Floriculture Private Limited, Pune |
|
720000 |
|
Lily Floricture Private Limited, Pune |
|
720000 |
|
Rasiklal Maikchand Nahar |
|
10 |
|
Rekha Rasiklal Nahar |
|
10 |
|
Archna Rahul Nahar |
|
10 |
|
Prakash Motilal Bhansali |
|
1 |
|
Sachin Prakash Bhansali |
|
1 |
|
Santosh Motilala Bhansali |
|
3 |
|
Vijay Motilal Bhansali |
|
1 |
|
Total |
|
19455000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
7.40 |
|
Other top fifty shareholders |
92.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service
Provider of Builders Developers, Real Estate Agents. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India ·
State Bank Of India, Commercial Branch,
1548/A, Sadashiv Peth, Tilak Road, Pune - 411030, Maharashtra, India ·
Union bank of India ·
Bank of India |
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Financial Institution: |
Tata Capital Limited, One Forbes, Dr V B Gandhi Marg,Fort,
Mumbai - 400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. M. Surtawala and Company Chartered Accountant |
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Address : |
1082, Shukrawar Peth, Sathe Colony, Pune – 411002, Maharashtra, India |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19455000 |
Equity Shares |
Rs.10/- each |
Rs.194.550
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 |
194.550 |
194.550 |
194.550 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
950.082 |
923.799 |
83.640 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1144.632 |
1118.349 |
278.190 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
145.340 |
162.922 |
82.500 |
|
|
2] Unsecured Loans |
459.891 |
136.255 |
61.487 |
|
|
TOTAL BORROWING |
605.231 |
299.177 |
143.987 |
|
|
DEFERRED TAX LIABILITIES |
5.779 |
3.005 |
1.200 |
|
|
|
|
|
|
|
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TOTAL |
1755.642 |
1420.531 |
423.377 |
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APPLICATION OF FUNDS |
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|
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|
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|
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FIXED ASSETS [Net Block] |
1086.287 |
1078.713 |
41.579 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
140.873 |
70.617 |
227.861 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
805.903 |
356.723 |
285.748 |
|
|
Sundry Debtors |
36.563 |
0.265 |
0.000 |
|
|
Cash & Bank Balances |
165.869 |
260.462 |
193.539 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
536.316
|
110.473 |
98.540 |
|
Total
Current Assets |
1544.651
|
727.923 |
577.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
232.306
|
55.355 |
156.796 |
|
|
Other Current Liabilities |
771.837
|
374.938 |
223.446 |
|
|
Provisions |
19.876
|
27.123 |
44.835 |
|
Total
Current Liabilities |
1024.019
|
457.417 |
425.077 |
|
|
Net Current Assets |
520.632
|
270.506 |
152.750 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
7.849 |
0.695 |
1.187 |
|
|
|
|
|
|
|
|
TOTAL |
1755.641 |
1420.531 |
423.377 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
337.071 |
334.528 |
246.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
268.918 |
242.618 |
125.078 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.153 |
91.910 |
121.523 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.429 |
15.521 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
58.724 |
76.389 |
121.523 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.685 |
4.331 |
2.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.039 |
72.058 |
119.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
21.875 |
26.979 |
44.956 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
29.164 |
45.079 |
74.331 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.219 |
NA |
NA |
|
|
TOTAL EARNINGS |
3.219 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.62
|
13.47 |
30.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
|
3.99 |
19.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.42
|
0.68 |
2.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.59 |
1.36 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
232.306
|
55.355 |
156.796 |
NOTE:
The registered office address of the company
has been shifted from Mantri House, 1st Floor, 929, F C Road, Pune 411004,
Maharashtra, India to present address w.e.f. 05.11.2011
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.49.90 |
|
|
1 |
Rs.78.14 |
|
Euro |
1 |
Rs.65.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.