MIRA
INFORM REPORT
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Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ORBIT CORPORATION LIMITED |
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Registered
Office : |
The View, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.03.2000 |
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Com. Reg. No.: |
11-124729 |
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Capital
Investment / Paid-up Capital : |
Rs. 1139.620
Millions |
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CIN No.: [Company Identification
No.] |
L72900MH2000PLC124729 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO02853E |
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PAN No.: [Permanent Account No.] |
AAACO3920A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Real Estate Developer |
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No. of Employees
: |
Not Available |
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 37000000 |
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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. There
appears a huge dip in the profitability of the company. However, networth of
the company appears to be satisfactory. However, trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitment. 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
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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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
LOCATIONS
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Registered Office : |
The View, 165 Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
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Tel. No.: |
91-22-30446910 |
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Fax No.: |
91-22-24911028 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2012
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Name : |
Mr. Ravi Kiran Aggarwal |
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Designation : |
Executive Chairman |
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Date of Birth/Age : |
64 Years |
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Qualification : |
Graduation from BITS Pilani, Post Graduation from Delhi University |
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Experience : |
45 Years |
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Date of Appointment : |
07.03.2000 |
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Name : |
Mr. Pujit Aggarwal |
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Designation : |
Managing Director and Chief Executive Officer |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.Com, OPM (Owner President Program from Harvard Business School USA,
AMDP (Advanced Management & Design Program) from The Graduate School of
Design- Har Harvard University |
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Experience : |
23 Years |
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Date of Appointment : |
07.03.2000 |
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Name : |
Mr. Prithvi Raj Jindal |
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Designation : |
Independent Director |
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Name : |
Mr. Kuldip Bhargava |
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Designation : |
Independent Director |
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Name : |
Mr. Shailesh S. Vaidya |
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Designation : |
Non-Independent Director |
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Name : |
Mr. Raman Maroo |
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Designation : |
Independent Director |
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Address : |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Bachelor of Science |
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Date of Appointment : |
21.05.2007 |
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Name : |
Mr. Shahzaad Dalal |
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Designation : |
Independent Director |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Bachelor of Commerce and Masters Degree in Business Administration |
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Date of Appointment : |
27.01.2010 |
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Name : |
Mr. Satish Chandra Gupta |
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Designation : |
Independent Director |
KEY EXECUTIVES
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Name : |
Ms. Puja Mehta |
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Designation : |
Company Secretary |
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Audit Committee |
Ř
Mr. Shahzaad Dalal Ř
Mr. Ravi Kiran Aggarwal Ř
Mr. Kuldip Bhargava Ř
Mr. Raman Maroo Ř Mr. Satish Chandra Gupta Ř (w.e.f. 28th
February, 2012) |
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Management Team |
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Name : |
Mr. Pujit Aggarwal |
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Designation : |
Managing Director and Chief Executive Officer |
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Name : |
Mr. Ramashrya Yadav |
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Designation : |
Head- Finance and Strategies |
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Name : |
Mr. Raajhesh Shah |
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Designation : |
Chief Operating Officer |
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Name : |
Mr. Hari Kumar Kurup |
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Designation : |
Chief Acquisition Officer |
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Name : |
Commodere Vasu Iyer VSM (retd.) |
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Designation : |
President Projects |
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Name : |
Mr. Sanjay Bhutani |
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Designation : |
Head- Sales |
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Name : |
Mr. Jitendra Gupte |
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Designation : |
Senior Vice President and Head Human Resources |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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47149604 |
41.37 |
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7696800 |
6.75 |
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54846404 |
48.13 |
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Total shareholding of Promoter and Promoter Group (A) |
54846404 |
48.13 |
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(B) Public Shareholding |
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433132 |
0.38 |
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1047345 |
0.92 |
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1408266 |
1.24 |
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2888743 |
2.53 |
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27637207 |
24.25 |
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13165947 |
11.55 |
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12005200 |
10.53 |
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3418389 |
3.00 |
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2663024 |
2.34 |
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754793 |
0.66 |
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Overseas Corporate
Bodies |
22 |
0.00 |
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Trusts |
550 |
0.00 |
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56226743 |
49.34 |
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Total Public shareholding (B) |
59115486 |
51.87 |
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Total (A)+(B) |
113961890 |
100.00 |
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© Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
113961890 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
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Line of Business : |
Real Estate Developer |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Ř State Bank of India, Shivsagar Estate Branch, Worli, Mumbai – 400018,
Maharashtra, India Ř Canara Bank, Colaba Branch, Near Colaba Police Station, Mumbai – 400039,
Maharashtra, India Ř Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai
Samachar Marg, Fort, Mumbai – 400023, Maharashtra, India Ř HDFC Bank Limited, Kamala Mills Compound, Lower Parel, Mumbai –
400013, Maharashtra, India Ř Axis Bank Limited, Ground Floor, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India |
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Facilities : |
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