|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OBEROI MALL LIMITED (w.e.f 13.07.2011) |
|
|
|
|
Formerly Known
As : |
OBEROI MALL PRIVATE LIMITED (w.e.f. 26.05.2003) HILLTOP CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Commerz, 3rd Floor, International Business Park, Oberoi
Garden City, Off Western Express Highway, Goregaon (East), Mumbai – 400063 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.05.2001 |
|
|
|
|
Com. Reg. No.: |
11-132119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.900 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202MH2001PLC132119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO03461D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO6944Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of
leasing of immovable property |
|
|
|
|
No. of Employees
: |
Information denied by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3192000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track record. There appear
no external borrowings during 2013. Financial position of the company appears
to be sound. Directors are reported to be experienced respectable and
resourceful businessman. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
INFORMATION DENIED
MANAGEMENT NON CORPORATIVE (91-22-66773333)
LOCATIONS
|
Registered Office : |
Commerz, 3rd Floor, International Business Park, Oberoi
Garden City, Off Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-66773333 |
|
Fax No.: |
91-22-66773334 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 26.06.2012
|
Name : |
Mr. Vikas Ranvir Oberoi |
|
Designation : |
Director |
|
Address : |
Plot No. 70, 12th N S Road, J V P D Scheme, Juhu, Mumbai –
400049, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1969 |
|
Date of Appointment : |
09.04.2003 |
|
DIN No. : |
00011701 |
|
|
|
|
Name : |
Ms. Bindu Ranvir Oberoi |
|
Designation : |
Director |
|
Address : |
Plot No. 70, 12th N S Road, J V P D Scheme, Juhu, Mumbai –
400049, Maharashtra, India |
|
Date of Birth/Age : |
20.08.1968 |
|
Date of Appointment : |
17.01.2007 |
|
DIN No. : |
00837711 |
|
|
|
|
Name : |
Mr. Saumil Ashwin Daru |
|
Designation : |
Director |
|
Address : |
A – 2301, Oberoi Woods, Off Western Express Highway, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1970 |
|
Date of Appointment : |
21.06.2011 |
|
DIN No. : |
03533268 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.06.2012
|
Names of Shareholders |
No. of Shares |
|
Vikas Ranvir Oberoi |
5 |
|
Oberoi Realty Limited, India |
89990 |
|
Bindu Oberoi and Oberoi Realty Limited, India |
1 |
|
Saumil Daru and Oberoi Realty Limited, India |
1 |
|
Raman Sapru and Oberoi Realty Limited, India |
1 |
|
Rajendra Chandorkar and Oberoi Realty Limited, India |
1 |
|
Arunkumar Kotian and Oberoi Realty Limited, India |
1 |
|
|
|
|
Total |
90000 |
As on: 26.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of
leasing of immovable property |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management
|
|
|
|
|
Bankers : |
ICICI Bank Limited, Bandra Kurla Complex, Mumbai, Maharashtra,
India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P Raj and Company Chartered Accountants |
|
Address : |
3/1218, Navjivan Commercial Premises Co-op Society Limited, Lamington
Road, Mumbai – 400008, Maharashtra, India |
|
PAN No. : |
AANFP6200G |
|
|
|
|
Holding Company : |
Ø Oberoi Realty
Limited, India CIN No.: L45200MH1998PLC114818 |
|
|
|
|
Fellow Subsidiary : |
Ø Oberoi
Constructions Limited, India CIN No. : U45202MH1993PLC074836 Ø Kingston
Property Services Limited, India CIN No. : U70102MH2007PLC176290 |
|
|
|
|
Entities where key management personal have significant influence : |
Oasis Realty |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.10/- each |
Rs.4.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.900 |
0.900 |
0.100 |
|
(b) Reserves & Surplus |
797.117 |
815.950 |
839.722 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
0.000 |
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
798.017 |
816.850 |
839.822 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.553 |
(4.253) |
0.000 |
|
(c) Other long term liabilities |
164.918 |
393.753 |
337.243 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
165.471 |
389.500 |
337.243 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
20.000 |
20.000 |
|
(b) Trade payables |
2.950 |
4.380 |
6.580 |
|
(c) Other current
liabilities |
478.867 |
218.653 |
242.555 |
|
(d) Short-term provisions |
589.023 |
585.134 |
322.227 |
|
Total Current Liabilities (4) |
1070.840 |
828.167 |
591.362 |
|
|
|
|
|
|
TOTAL |
2034.328 |
2034.517 |
1768.427 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1329.587 |
1358.023 |
1364.599 |
|
(ii) Intangible Assets |
0.118 |
0.275 |
0.272 |
|
(iii) Capital
work-in-progress |
1.789 |
0.504 |
4.609 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
9.107 |
|
(d) Long-term Loan and Advances |
4.695 |
1.339 |
1.544 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.294 |
|
Total Non-Current Assets |
1336.189 |
1360.141 |
1380.425 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
38.064 |
41.466 |
81.116 |
|
(d) Cash and cash
equivalents |
633.311 |
610.463 |
282.189 |
|
(e) Short-term loans and
advances |
13.390 |
7.645 |
23.004 |
|
(f) Other current assets |
13.374 |
14.802 |
1.693 |
|
Total Current Assets |
698.139 |
674.376 |
388.002 |
|
|
|
|
|
|
TOTAL |
2034.328 |
2034.517 |
1768.427 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
792.125 |
781.820 |
660.131 |
|
|
|
Other Income |
39.012 |
32.692 |
7.363 |
|
|
|
TOTAL |
831.137 |
814.512 |
667.494 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other expenses |
35.546 |
32.379 |
33.626 |
|
|
|
TOTAL |
35.546 |
32.379 |
33.626 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
795.591 |
782.133 |
633.868 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.121 |
0.061 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
795.470 |
782.072 |
633.863 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
38.834 |
37.870 |
36.770 |
|
|
|
|
|
|
|
|
|
|
TOTAL PROFIT BEFORE
PRIOR PERIOD ITEMS, EXCEPTIONAL ITEMS, EXTRAORDINARY ITEMS AND TAX |
0.000 |
0.000 |
597.093 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEMS BEFORE TAX |
0.000 |
0.000 |
(9.572) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
756.636 |
744.202 |
587.521 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
186.446 |
182.840 |
154.619 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
570.190 |
561.362 |
432.902 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6335.45 |
7764.87 |
43290.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
68.60
|
68.92 |
64.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
95.52
|
95.19 |
89.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.23
|
36.59 |
33.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.95
|
0.91 |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.65
|
0.81 |
0.66 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Current maturities
of long term debt is not available
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
---------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
No |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
NOTE:
The registered address of the company has been
shifted from International Business Park, Oberoi Garden City, off Western Express
Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India to the present
address w.e.f. 21.09.2009
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowing |
|
|
|
Loan and advance from related parties |
0.000 |
20.000 |
|
|
|
|
|
Total |
0.000 |
20.000 |
NATURE OF OPERATIONS:
The company is engaged primarily in the business
of leasing of immovable property
OPERATIONS:
The company has recorded total revenue of Rs.
831.137 millions as compared to Rs. 814.512 millions in the previous year. The
profit before tax has increased to Rs. 756.636 millions for the year ended
march 31, 2013 as compared to Rs. 744.202 millions for the previous year. The
profit after tax was of Rs. 570.190 millions for the year as compared to Rs.
561.362 millions in the previous year.
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 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.63.46 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.