MIRA
INFORM REPORT
|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OBEROI REALTY LIMITED |
|
|
|
|
Registered
Office : |
Commerz, 3rd Floor, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.05.1998 |
|
|
|
|
Com. Reg. No.: |
11-114818 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3282.333 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200MH1998PLC114818 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The company is engaged in the business of real estate development and hospitality. |
|
|
|
|
No. of Employees
: |
511 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 100000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well-established company having a fine track record. The financial position of the company is sound and healthy. Directors
are reported to be well-experienced and knowledgeable businessmen. Trade relations are reported as decent. Business is active. Payment
terms are regular and as per commitment. The company can be considered 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.
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 DECLINED
Management Non-cooperative (91-22-66773333)
LOCATIONS
|
Registered Office / Corporate 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 31.03.2013
|
Name : |
Mr. Vikas Oberoi |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Anil Harish |
|
Designation : |
Independent, Non-Executive Director |
|
|
|
|
Name : |
Mrs. Bindu Oberoi |
|
Designation : |
Non-Independent, Non-Executive Director |
|
|
|
|
Name : |
Mr. Tilokchand P. Ostwal |
|
Designation : |
Independent, Non-Executive Director |
|
|
|
|
Name : |
Mr. Venkatesh Mysore |
|
Designation : |
Independent, Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Bhaskar Kshirsagar |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Saumil Daru |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2013
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
224313573 |
68.34 |
|
|
33302442 |
10.15 |
|
|
33302442 |
10.15 |
|
|
257616015 |
78.49 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
257616015 |
78.49 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2129596 |
0.65 |
|
|
629 |
0.00 |
|
|
32928447 |
10.03 |
|
|
35058672 |
10.68 |
|
|
|
|
|
|
2176787 |
0.66 |
|
|
|
|
|
|
1945304 |
0.59 |
|
|
176573 |
0.05 |
|
|
31259911 |
9.52 |
|
|
62970 |
0.02 |
|
|
107926 |
0.03 |
|
|
31055247 |
9.46 |
|
|
33388 |
0.01 |
|
|
380 |
0.00 |
|
|
35558575 |
10.83 |
|
Total Public shareholding (B) |
70617247 |
21.51 |
|
Total (A)+(B) |
328233262 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
328233262 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in business of real estate
development and hospitality. |
GENERAL INFORMATION
|
No. of Employees : |
511 (Approximately) |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Raj and Company Chartered Accountants |
|
|
|
|
Subsidiaries : |
· Buoyant Realty Private Limited · Expressions Realty Private Limited · Kingston Hospitality and Developers Private Limited · Kingston Property Services Limited · Oberoi Constructions Limited · Oberoi Mall Limited · Perspective Realty Private Limited · Sight Realty Private Limited ·
Triumph Realty Private Limited (till May 23,
2011) |
|
|
|
|
Jointly controlled
entities : |
· Astir Realty LLP · I-Ven Realty Limited (from September 29, 2011) ·
Sangam City Township Private Limited |
|
|
|
|
Joint venture of
subsidiaries : |
Oasis Realty (AOP) |
|
|
|
|
Entities where key management
personnel have significant influence : |
· Oberoi Foundation · R. S. Estate Developers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
425000000 |
Equity Shares |
Rs.10/- each |
Rs.4250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
328233262 |
Equity Shares |
Rs.10/- each |
Rs.3282.333 Millions |
|
|
|
|
|
A. Reconciliation of
shares outstanding at the beginning and at the end of the year
|
Particular |
in No. |
Rs. In Millions |
|
Equity shares |
|
|
|
At the beginning of the year |
328233262 |
3282.333 |
|
Add: Issue of fresh shares |
-- |
-- |
|
At the end of the year |
328233262 |
3282.333 |
B. Terms / rights
attached to equity shares
The Company has only one class of equity shares having par value of Rs.10 per share. Each equity share is entitled to one vote. The Company declares dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended March 31, 2013, the amount of per share dividend recognised as proposed for distribution to equity shareholders was Rs.2 (Rs.2), which is subject to approval of shareholders in ensuing Annual General Meeting.
C. Redemption of redeemable non-convertible cumulative preference shares
During the previous year, the Company has redeemed all 359 redeemable non-convertible cumulative preference shares of Rs.10,00,000 each aggregating to Rs.35,90,00,000 for an amount of Rs.1 and balance Rs.35,89,99,999 has been transferred to capital reserve.
D. Details of
shareholders holding more than 5% shares in the Company
|
Particular |
in No. |
% Holding |
|
Equity shares |
|
|
|
Vikas Oberoi |
224313573 |
68.34% |
|
R S Estate Developers Private Limited |
33300000 |
10.15% |
|
SSIII Indian Investments Two Limited |
31055247 |
9.46% |
As per the of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
E. Shares reserved
for issue under options
The Company instituted an Employees Stock Option Scheme (‘ESOP 2009’) pursuant to the Board and Shareholders’ resolution dated December 04, 2009. As per ESOP 2009, the Company is authorised to grant 14,43,356 options comprising equal number of equity shares in one or more tranches to the eligible employees of the Company and its subsidiaries. The employee will have the option to exercise the right within three years from the date of vesting of options. Under ESOP 2009, 13,49,553 options have been granted.
The following
information relates to the Employee Stock Options as on March 31, 2013
Rs. In Millions
|
Particulars |
Number of Options |
Exercise price (Rs.) |
Weighted average exercise price (Rs.) |
Weighted average contractual life of options as on the date of grant (years) |
|
Outstanding at the beginning of the year |
11,26,236 |
260 |
260 |
4.20 |
|
Less: Lapsed / forfeited / cancelled during the year |
58,687 |
-- |
-- |
-- |
|
Outstanding at the end of the year |
10,67,549 |
260 |
260 |
4.20 |
|
Exercisable at the end of the year |
4,29,492 |
260 |
260 |
4.20 |
The employee share based payments have been accounted using the intrinsic value method measured by a difference between the market price of the underlying equity shares as at the date of grant and the exercise price. Since the market price of the underlying equity shares on the grant date is same as exercise price of the option, the intrinsic value of option is determined as Nil. Hence no compensation expense has been recognised. Under the fair value method, the basic and diluted EPS would have been lowered by Rs.0.06.
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 |
3282.333 |
3282.333 |
3641.333 |
|
(b) Reserves & Surplus |
21781.477 |
19168.293 |
16969.662 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
25063.810 |
22450.626 |
20610.995 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
129.976 |
65.483 |
(15.944) |
|
(c) Trade payables |
65.228 |
9.339 |
5.527 |
|
(d) Other long term liabilities |
270.492 |
281.332 |
382.289 |
|
(e) long-term provisions |
10.887 |
8.181 |
8.045 |
|
Total Non-current Liabilities (3) |
476.583 |
364.335 |
379.917 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
187.696 |
177.763 |
192.392 |
|
(c) Other current
liabilities |
7966.828 |
7242.553 |
3674.595 |
|
(d) Short-term provisions |
777.714 |
773.135 |
398.792 |
|
Total Current Liabilities (4) |
8932.238 |
8193.451 |
4265.779 |
|
|
|
|
|
|
TOTAL |
34472.631 |
31008.412 |
25256.691 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5439.436 |
5540.527 |
5592.266 |
|
(ii) Intangible Assets |
18.470 |
31.648 |
34.512 |
|
(iii) Capital
work-in-progress |
3804.250 |
2800.932 |
1503.783 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3157.764 |
3487.957 |
328.999 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2923.912 |
2749.728 |
475.966 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
21.007 |
|
Total Non-Current Assets |
15343.832 |
14610.792 |
7956.533 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
637.500 |
280.000 |
650.000 |
|
(b) Inventories |
5881.993 |
4026.039 |
2720.936 |
|
(c) Trade receivables |
352.260 |
291.069 |
188.233 |
|
(d) Cash and cash
equivalents |
9216.545 |
10515.009 |
11406.685 |
|
(e) Short-term loans and
advances |
2929.125 |
1142.765 |
2215.709 |
|
(f) Other current assets |
111.376 |
142.738 |
118.595 |
|
Total Current Assets |
19128.799 |
16397.620 |
17300.158 |
|
|
|
|
|
|
TOTAL |
34472.631 |
31008.412 |
25256.691 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5950.457 |
3913.875 |
3898.248 |
|
|
|
Other Income |
1474.493 |
1588.656 |
496.964 |
|
|
|
TOTAL (A) |
7424.950 |
5502.531 |
4395.212 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating costs |
2193.069 |
1409.708 |
1390.750 |
|
|
|
Employee benefits expense |
349.682 |
303.566 |
246.715 |
|
|
|
Other expenses |
205.240 |
130.403 |
125.699 |
|
|
|
Prior period income / (expenses) |
0.687 |
4.273 |
-4.939 |
|
|
|
TOTAL (B) |
2748.678 |
1847.950 |
1758.225 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4676.272 |
3654.581 |
2636.987 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.365 |
2.633 |
1.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4672.907 |
3651.948 |
2635.085 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
236.687 |
223.487 |
184.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4436.220 |
3428.461 |
2450.621 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1161.497 |
879.116 |
744.964 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3274.723 |
2549.345 |
1705.657 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of residential units |
54.857 |
115.228 |
58.769 |
|
|
|
Hospitality services |
450.422 |
437.953 |
319.681 |
|
|
TOTAL EARNINGS |
505.279 |
553.181 |
378.450 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
489.880 |
2.867 |
0.000 |
|
|
|
Capital Goods |
26.424 |
92.876 |
9.581 |
|
|
TOTAL IMPORTS |
516.304 |
95.743 |
9.581 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.98 |
7.77 |
5.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
44.10
|
46.33 |
38.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
74.55
|
87.60 |
62.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.13
|
13.87 |
10.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.15 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
2.00 |
4.06 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: 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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
FINANCIAL PERFORMANCE
Standalone Financials
During the year, the total revenue stood at Rs.7424.950 Millions as compared to Rs.5502.531 Millions for the previous year, representing an increase of 34.94%. Profit before tax stood at Rs.4436.220 Millions for the year under review as compared to Rs.3428.461 Millions for the previous year, representing an increase of 29.39%. Profit after tax stood at Rs.3274.723 Millions as compared to Rs.25493.345 Millions for the previous year, representing an increase of 28.45%.
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMIC REVIEW
Global economy
The financial year 2013 continued to test citizens and corporates across nations. Even 4 years after 2008, the developed economies are still struggling to recover from the scars of financial crisis. Several European nations are now in recession and face challenges on account of high unemployment, banking fragility and fiscal tightening. In the US, a slow recovery is taking hold, driven by improvements in the housing sector and employment conditions. On the other hand, the emerging economies are facing their own challenges on managing growth and inflation and at the same time ensuring that the fruits of development reach across all sections of the society.
Indian economy
The challenging global scenario and the internal structural bottlenecks had a slowdown effect on the Indian economic growth. The persistent high consumer price inflation and the twin deficits on the fiscal and the trade fronts exaggerated the problems associated with the already low GDP growth.
The Government made efforts to kick start the economy onto the path of recovery by coming out with a few initiatives on the policy front. There was a renewed commitment to fiscal consolidation by cutting down on subsidy on fuels like diesel and LPG. The FDI regime was further liberalised in key sectors such as power, banking, insurance, retail, and aviation.
Despite the current macroeconomic environment, India still remains one of the fastest growing economies of the world. Short-term blips apart, the long-term trend seems to be intact.
INDUSTRY REVIEW
Real Estate witnessed a slowdown in FY2013 with residential market, commercial and retail space facing price and approval challenges. The demand-supply gap, delay in obtaining permissions and rising prices of steel, cement and labour were a cause of concern for all the developers in India. Industry expectations of single window clearance for obtaining permissions to begin a project and the expectations of the Government granting an industry status to Real Estate segment and the creation of a housing regulator did not fructify last year. Most of the companies in the sector continued to be in a repair mode and the overall macroeconomic situation did little to help matters for them.
OUTLOOK
The outlook for FY2014 is expected to remain challenging in light of the need for significant fiscal adjustment, inflation risks and the spiralling current account and fiscal deficits. Economists expect GDP growth in the range of 5.0-5.5% for FY2014. The uncertainty around the general elections for the Lok Sabha will bring further complexity to the economic environment in the midst of uncertainty of the directions on the policy front. Amidst all these challenges, your company will target to ensure steady operations and deliver high quality projects for its customers.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
|
Indemnity bonds given in the favour of the government under Export Promotion Capital Goods Scheme (net of bank guarantees) |
344.685 |
372.118 |
|
Legal cases against the Company not acknowledged as debts |
-- |
20.015 |
|
Claims against the Company not acknowledged as debts |
278.615 |
8.000 |
|
Certain other additional matters which are under dispute (including some matters which are pending in court) but which are not acknowledged as debts by the Company |
Amounts not ascertainable |
Amounts not ascertainable |
|
Custom duty matters in dispute |
4.400 |
4.400 |
|
Service tax matters in dispute |
18.953 |
8.588 |
|
Income-tax matters in dispute |
167.055 |
107.754 |
|
Corporate guarantee given |
500.000 |
500.000 |
UNAUDITED STANDALONE
FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2013
Rs. In Millions
|
|
|
Quarter ended |
|
Sr No |
Particulars |
30.06.2013 Unaudited |
|
1 |
a) Net Sales / Income from Operations |
1677.800 |
|
|
b) Other operating Income |
61.300 |
|
|
Total (a+b) |
1739.100 |
|
2 |
Expenses : |
|
|
|
a) Operating Cost |
558.700 |
|
|
b) Employee Benefit Expenses |
88.000 |
|
|
c) Depreciation and Amortisation |
56.600 |
|
|
d) Other Costs |
57.100 |
|
|
Total Expenditure
(a+b+c+d) |
760.400 |
|
3 |
Profit from Operations before other income and finance costs (1 - 2) |
978.700 |
|
4 |
Other Income |
174.200 |
|
5 |
Profit from ordinary activities before finance costs (3 + 4) |
1152.900 |
|
6 |
Finance Costs |
0.600 |
|
7 |
Profit from ordinary activities before tax (5 - 6) |
1152.300 |
|
8 |
Tax Expense |
367.100 |
|
9 |
Net Profit for the period (7 - 8) |
785.200 |
|
10 |
Paid-up Equity Share Capital Equity Shares of Rs. 10/- each |
3282.300 |
|
11 |
Reserves excluding revaluation reserves as per Balance Sheet of previous accounting year |
|
|
12 |
Basic and Diluted Earnings per share (Face Value of Rs.10/-) |
|
|
|
Basic EPS |
|
|
|
- Before Extraordinary Items |
2.39 |
|
|
- After Extraordinary Items |
2.39 |
|
|
Diluted |
|
|
|
- Before Extraordinary Items |
2.39 |
|
|
- After Extraordinary Items |
2.39 |
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
13 |
Public Shareholding : |
|
|
|
a) Number of Shares |
70,617,247 |
|
|
b) Percentage of shareholding (%) |
21.51% |
|
14 |
Promoters and promoter group Shareholding |
|
|
|
a) Pledged / Encumbered |
-- |
|
|
b) Non-Encumbered |
|
|
|
- Number of Shares |
257,616,015 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter and Promoter Group) |
100.00% |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
78.49% |
|
|
|
|
|
B |
Investors
Complaints |
|
|
|
Pending at the beginning of the quarter |
-- |
|
|
Received during the quarter |
-- |
|
|
Disposed of during the quarter |
-- |
|
|
Remaining unresolved at the end of the quarter |
-- |
Note
a) The above results for the quarter ended June 30, 2013 have been reviewed by
the Audit Committee and approved by the Board of Director at its meeting held
on 15, 2013 and have been subjected to a limited Review by the at is meeting
held on July 15, 2013 and have been subjected to a limited Review by the
Statutory Auditors of the company.
b) The figures of the last quarter of previous year are the balancing
figures between audited figures in respect of full financial year and published
year to date figures up to the third quarter of the respective financial year.
c) Since the nature of the real estate business of the company is such that
profits/ losses do not necessarily accrue evenly over the period, the result of
a quarter may not be representative of the profits / losses for the year.
d) Previous period figures have been regrouped, re-arranged and
re-classified wherever necessary to conform to current period’s classification.
e) Unaudited Standalone segment wise revenue, results and capital Employed
for the quarter ended June 30, 2013.
|
|
|
Quarter ended |
|
Sr No |
Particulars |
30.06.2013 Unaudited |
|
|
Segment Revenue |
|
|
(a) |
Real estate |
1480.100 |
|
(b) |
Hospitality |
259.000 |
|
|
Total |
1739.100 |
|
|
Less: Inter segment revenue |
-- |
|
|
Net income from
operations |
1739.100 |
|
|
|
|
|
|
Segment Results (profit before tax,
interest and unallocable expenditure) |
|
|
(a) |
Real estate |
945.200 |
|
(b) |
Hospitality |
45.900 |
|
|
Total |
991.100 |
|
|
|
|
|
|
Add/(less) |
|
|
i) |
Interest and finance charges |
(0.600) |
|
ii) |
Unallocable income net of Unallocable Expenses* |
161.800 |
|
|
Total |
1152.300 |
|
|
Capital Employed (Segment assets
less segment liabilities) |
|
|
(a) |
Real estate |
13716.500 |
|
(b) |
Hospitality |
2777.700 |
|
|
Total capital
employed in segment |
16494.200 |
|
|
Add: Uallocated
capital employed |
9354.900 |
|
|
|
|
|
|
Total capital
employed in the company |
25849.100 |
* Unallocated capital employed includes
temporary surplus Income earned on temporary investment of the same has been
show in ‘Unnnallocable Income net of Unallocable Expenditure’.
FIXED ASSETS
· Buildings
· Electrical installations
· Furniture and fixtures
· Office equipments
· Plant and machinery
· Computer
· Vehicle
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.63.46 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
59 |
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.