|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALPATARU LIMITED (w.e.f. February 1, 2008) |
|
|
|
|
Formerly Known
As : |
KALPATARU HOMES LIMITED |
|
|
|
|
Registered
Office : |
91, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai
– 400 055, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss) |
|
|
|
|
Date of
Incorporation : |
22.12.1988 |
|
|
|
|
Com. Reg. No.: |
11-050144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1406.000 Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1988PLC050144 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11371D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2108G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Developers |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having a good track record.
The financial position of the company seems to be strong. Performance
capability appears to be high. Fundamentals are healthy and strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view of crises in real estate sector. The company can be considered
for business dealings with slight caution.
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
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
|
Registered Office : |
91, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai
– 400 055, |
|
Tel. No.: |
91-22-30413000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
101, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai - 400 055, Maharashtra, India |
|
Tel. No.: |
91-22-30645000 |
|
Sales Board line : |
91-22-30643065 |
|
Fax No.: |
91-22-30643131 |
|
E-Mail : |
|
|
|
|
|
Pune Sales Office : |
Kalpataru Gardens, 9A, Boat Club Road, Opposite Narangi
Baug, Next to HDFC Bank, Pune – 411
006, Maharashtra, India. |
|
Tel. No.: |
91-20-26162516 |
|
Fax No.: |
91-20-30413016 |
|
E-Mail : |
|
|
|
|
|
Thane Central
Office : |
Kalpataru Properties (Thane) Private Limited Siddhachal Shopping Complex, 1st |
|
Tel. No.: |
91-22-21713737 / 2171 3734 |
|
Fax No.: |
91-22-21713735 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Mofatraj Pukhraj Munot |
|
Designation : |
Chairman |
|
Address : |
“Munot Villa”, Westfield Compound Lane, 63K, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1944 |
|
Qualification : |
HSC |
|
Date of Appointment : |
28.12.1988 |
|
DIN No.: |
00046905 |
|
|
|
|
Name : |
Mr. Parag Mofatraj Munot |
|
Designation : |
Managing Director |
|
Address : |
“Munot Villa”, Westfield Compound Lane, 63K, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1969 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.10.1990 |
|
DIN No.: |
00136337 |
|
|
|
|
|
|
|
Name : |
Mr. Imtiaz Hussain Kanga |
|
Designation : |
Director |
|
Address : |
1, Kalpataru, 39, Dr. G Deshmukh Marg, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1952 |
|
Qualification : |
CA |
|
Date of Appointment : |
30.09.2002 |
|
DIN No.: |
00136272 |
|
|
|
|
Name : |
Mr. Sajjanraj Mehta |
|
Designation : |
Additional Director |
|
Address : |
703, Atmaj, 94-C, August Kranti Marg, Mumbai – 400 036, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1951 |
|
Qualification : |
CA |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
00051497 |
|
|
|
|
Name : |
Mr. Dhananjay Narendra Mungale |
|
Designation : |
Additional Director |
|
Address : |
10 A/ Ameya Apartments, Near Kirti College, Off. Dhuru Road, Prabhadevi, Mumbai – 400 028, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1953 |
|
Qualification : |
CA, LLB |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
00007563 |
|
|
|
|
Name : |
Mr. Om Prakash Gahrotra |
|
Designation : |
Additional Director |
|
Address : |
12, Praneet, Dr J. Palker Road, Worli, Mumbai – 400 030, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1946 |
|
Qualification : |
IAS |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
00936696 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Jitendra Thakar |
|
Designation : |
Secretary |
|
Address : |
B/404, |
|
Date of Birth/Age : |
23.09.1965 |
|
Date of Appointment : |
01.07.2010 |
|
Pan No.: |
AABPT2954M |
|
|
|
|
Name : |
Mr. Rajendra |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Mofatraj P. Munot |
|
36309000 |
|
Mofatraj P. Munot Karta of Mofatraj P. Munot (HUF) |
|
13300 |
|
Parag M. Munot |
|
12568500 |
|
Sudha R. Golechha |
|
5236875 |
|
Sunita V. Choraria |
|
5236875 |
|
Monica P. Munot |
|
6982500 |
|
MPM Holding Private Limited, |
|
13300 |
|
Shouri Investment and Trading Company Private Limited, |
|
13685700 |
|
Mrigashish Investment and Trading Private Limited, |
|
13685700 |
|
Appropriate Developers Private Limited, |
|
13938400 |
|
Flex-O-Poly Private Limited, |
|
13685700 |
|
Mrigashish Constructions Private Limited, |
|
13406400 |
|
Mofatraj P. Munot as a Trustee of Sharadchandrika Munot Family
Trust |
|
4887750 |
|
Total |
|
139650000 |
|
Names of Shareholders Non-Convertible Preference Shares) |
|
No. of Shares |
|
Kalpataru Constructions Private Limited, India |
|
255000 |
|
K.C. Holdings Private Limited, India |
|
270000 |
|
Non-Pharma Private Limited, India |
|
120000 |
|
Klassik Vinyl Products Private Limited, India |
|
305000 |
|
Total |
|
950000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
48.99 |
|
Directors or relatives of Directors |
51.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Andhra Bank, 16B, Earnest House, Nariman Point,
Mumbai – 400 021, Maharashtra, India ·
Indian
Overseas Bank, Bakthawar, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
Standard Chartered Bank, Crescenzo, G-Block,
Opposite MCA Club, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note : A) Term Loans from Banks : Rs.3.556 Millions Add: Short
Term Loan from Banks : Rs,1.268 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MGB and Company Chartered Accountants |
|
Address : |
Jolly Bhavan 2, 1st Floor, 7, New Marine Lines, Churchgate,
Mumbai – 400 020, |
|
Tel. No.: |
91-22-66332330 |
|
Fax No.: |
91-22-66351545 |
|
E-Mail : |
|
|
Website : |
|
|
PAN.: |
AAAFM5742R |
|
|
|
|
Subsidiary company
: |
· Abacus Enviro Farms Private Limited · Abacus Orchards Private Limited · Abacus Real Estate Private Limited · Abhiruchi Orchards Private Limited · Agile Enviro Farms Private Limited · Agile Orchards Private Limited · Amber Enviro Farms Private Limited · Amber Orchards Private Limited · Amber Real Estate Limited · Ambrosia Enviro Farms Private Limited · Ambrosia Real Estate Private Limited · Anant Enviro Farms Private Limited · Anant Orchards Private Limited · Ananta Landmarks Private Limited · Appropriate Enviro Farms Private · Ardour Builders Private Limited · Ardour Developers Private Limited · Ardour Properties Private Limited · Ardour Real Estate Private Limited · Arena Orchards Private Limited · Argile Enviro Farms Private Limited · Arimas Developers Private Limited · Arimas Real Estate Private Limited · Ashoka Orchards Private Limited · Ashoka Properties Private Limited · Aspen Enviro Farms Private Limited · Aspen Orchards Private Limited · Astrum Developers Private Limited · Astrum Orchards Private Limited · Aura Enviro Farms Private Limited · Aura Orchards Private Limited · Aura Real Estate Private Limited · Axiom Orchards Private Limited · Azure Tree Enviro Farms Private · Azure Tree Land Private Limited · Azure Tree Orchards Private Limited · Kalpataru Constuctions (Poona) Private Limited · Kalpataru Gardens Private Limited · Kalpataru Land (Surat) Private Limited · Kalpataru Land Private Limited · Kalpataru Properties (Thane) Private Limited · Kalpataru Retail Ventures Private Limited · Kiyana Properties Private Limited · Shravasti Property Private Limited · Sona Properites Private Limited ·
Swarn Bhumi Township Private Limited |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives |
· Ananta Ventures LLP · Aseem Ventures LLP · Kalpataru + Sharyans · Kalpataru Constructions (Pune) · Kalpataru Enterprises · Kalpa-Taru Property Ventures LLP · Kalpataru Shubham Enterprises · Kamdhenu Constructions · Kanani Developers LLP · Kara Property Ventures LLP · Kiyana Ventures LLP · Mango People Homes LLP ·
Shravasti Ventures LLP |
|
|
|
|
Associate : |
Azure Tree Townships Private Limited |
|
|
|
|
Others : |
· Caprihans India Limited · Durable Trading Company Private Limited · JMC Projects (India) Limited · K.V. Property Ventures Private Limited · K.C. Holdings Private Limited · Kalpataru Builders · Kalpataru Constructions Private Limited · Kalpataru Properties Private Limited · Kalpataru Power Transmission Limited · Klassic Vinyl Product Private Limited · Neo Pharma Private Limited · Property Solutions (India) Private Limited · Propnova Properties Private Limited · Saicharan Properties Private Limited · Sudha Trust · Sunita Trust ·
Yugdharm Real Estate Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499000000 |
Equity Shares |
Rs.10/- each |
Rs.4990.000 Millions |
|
1000000 |
Non-Convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.5000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
139650000 |
Equity Shares |
Rs.10/- each |
Rs.1396.500
Millions |
|
950000 |
Non-Convertible Redeemable Preference Shares |
Rs.10/- each |
Rs.9.500
Millions |
|
|
Total |
|
Rs.1406.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1406.000 |
20.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
3870.242 |
4046.492 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5276.242 |
4066.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
6078.347 |
5470.311 |
|
|
2] Unsecured Loans |
|
2297.162 |
4013.660 |
|
|
TOTAL BORROWING |
|
8375.509 |
9483.971 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
13651.751 |
13550.463 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
78.170 |
69.485 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
562.270 |
444.916 |
|
|
DEFERREX TAX ASSETS |
|
8.899 |
7.002 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7964.838
|
7688.184
|
|
|
Sundry Debtors |
|
443.735
|
551.995
|
|
|
Cash & Bank Balances |
|
71.152
|
115.553
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
5734.533
|
5539.695
|
|
Total
Current Assets |
|
14214.258
|
13895.427
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
806.297 |
341.803
|
|
|
Other Current Liabilities |
|
432.196
|
501.677
|
|
|
Provisions |
|
32.928
|
22.887
|
|
Total
Current Liabilities |
|
1271.421
|
866.367
|
|
|
Net Current Assets |
|
12942.837
|
13029.060
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
59.575 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
13651.751 |
13550.463 |
|
NOTE: Balance Sheet for the year 2012 is not
available, only Profit and Loss Account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5372.800 |
4257.300 |
|
|
|
Other Income |
|
516.000 |
862.900 |
|
|
|
TOTAL (A) |
|
5888.800 |
5120.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
667.900 |
2685.800 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
1923.300 |
(259.400) |
|
|
|
Employee benefit expense |
|
514.300 |
356.600 |
|
|
|
Other expenses |
|
203.000 |
182.000 |
|
|
|
TOTAL (B) |
|
3308.500 |
2965.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2580.300 |
2155.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
790.100 |
777.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1790.200 |
1377.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
44.400 |
26.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1745.800 |
1351.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
2.600 |
141.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1743.200 |
1209.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
4270.791 |
3060.992 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Dividend- Proposed (inclusive of tax |
|
NA |
0.001 |
|
|
BALANCE CARRIED
TO THE B/S |
|
NA |
4270.791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
12.48 |
8.66 |
|
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales & Services |
|
|
3749.833 |
|
|
|
Share of profit from Partnership Firms |
|
|
248.462 |
|
|
|
Other Income |
|
|
520.830 |
|
|
|
TOTAL (A) |
|
|
4519.125 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
|
2819.717 |
|
|
|
Construction and Development Expenses |
|
|
0.000 |
|
|
|
Administrative and Other Expenses |
|
|
356.464 |
|
|
|
TOTAL (B) |
|
|
3176.181 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
1342.944 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
584.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
757.966 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
20.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
737.216 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
(0.847) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
738.063 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
2322.930 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Add: Adjustment on account of transitional provision under AS-15 |
|
|
0.000 |
|
|
|
Preference Dividend – Proposed (inclusive of tax) |
|
|
0.001 |
|
|
|
Less: Transferred to Debenture Redemption Reserve |
|
|
0.000 |
|
|
|
Add: Transferred from Debenture Redemption Reserve |
|
|
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
3060.992 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Construction Material |
|
|
17.320 |
|
|
|
Capital Goods |
|
|
0.000 |
|
|
TOTAL IMPORTS |
|
|
17.320 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
702.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
29.60
|
23.62 |
16.33
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.49
|
31.75 |
19.66
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
9.46 |
5.28
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.26 |
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA
|
1.59 |
2.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
11.18 |
16.04
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
|
|
|
|
Loans subsidiaries unsecured |
153.674 |
0.000 |
|
Other debt unsecured |
2143.488 |
4013.660 |
|
Total |
2297.162 |
4013.660 |
Note:
(A) - Companies in which Directors are interested: 0 Add:
Others: 0 Data Grid View Text Box Cell {Column Index=4, Row Index=177}:
Rs.4.013 Millions
Profile
|
Client Industry |
Construction and
Development |
|
Client's
discipline |
Real Estate
Developers |
General
|
The growth of
the client's industry is best described as: |
Stable |
|
Brief
description of the services and/or goods the client provides to the
marketplace: |
Residential
Township |
|
What is the legal
structure of the client? |
Parent Co with
Subsidiary |
|
What type of
company is the client? |
Public |
Credit Rating
|
Client's debt
tracked by a credit rating agency? |
No |
|
Name of credit
rating agency: |
- |
|
Credit rating class
provided by credit rating agency: |
- |
|
Client credit
rating: |
- |
|
Report on credit
worthiness of client purchased from: |
- |
Client Financials
|
Does the client
have a credit facility? |
Yes |
|
Do you have financial
information on this client? |
Yes |
|
Credit facility
type: |
Secured and
Unsecured |
|
Amount of credit
facility: |
Secured :Rs.
6078.347 Millions Unsecured :Rs.
2297.162 Millions |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
Rs. 5888.800 Millions |
|
Annualized COGS: |
Rs. 667.900
Millions |
|
Annualized
EBITDA: |
Rs. 2580.300
Millions |
|
Annualized net
income: |
Rs. 1745.800
Millions |
|
Cash balance: |
Rs. 71.152 Millions |
|
Marketable Securities
balance: |
--- |
|
Accounts
Receivable balance: |
Rs.
806.297
Millions |
|
Current Assets
balance: |
Rs.14214.258
Millions |
|
Total assets
balance: |
Rs. 13651.751 Millions |
|
Current
Liabilities balance: |
Rs. 1271.421 Millions |
|
Long-Term Debt balance: |
--- |
|
Equity balance: |
Rs. 5276.242 Millions |
|
Net cash
provided by operating activities: |
--- |
|
Date of client's
financial data populated: |
Balance Sheet =
31.03.2011 Profit and Loss
= 31.03.2012 |
|
Financial information
provided above audited? |
Yes |
OPERATIONS: (As on
31.03.2011)
Financial Year 2010-11, coming in the wake of period of significant monetary and fiscal stimulus globally, represented a period of different set of challenges for policy makers. Fear of deflation had been replaced by concern of excessive inflation on account of various reasons including higher crude oil prices. This resulted in Central Banks including Reserve Bank of India taking concentrated action to manage inflation and anchor inflationary expectations which manifested in tightening of monetary policy leading to a higher interest rate environment for the economy.
The overall growth of GDP, as per Revised Estimates of the Central Statistical Organization, was 8.5 per cent in FY 2010-11 representing an increase from a level of growth of 8.0 per cent during FY 2009-10 and of 6.8 per cent during FY 2008-09.
Total income of the Company as a standalone entity was Rs. 5120.200 Millions in 2010-11 as compared to Rs. 4519.100 Millions in 2009-10. Profit Before Tax (PBT) was Rs.1351.700 Millions in 2010-11 as compared to Rs. 737.200 Millions in 2009-10, whereas Profit After Tax (PAT) was Rs.1209.800 Millions as compared to Rs. 738.100 Millions in 2009-10.
The Company (along with its consolidated entities) continued to maintain momentum of launching new projects and new phases within existing projects. During the financial year 2010-11, following were the new project/phase launches:
1. “Kalpataru Sparkle” at Bandra (East), Mumbai - a luxurious residential project
2. “Kalpataru Hills” (Phase II), Thane - a high end residential project
3. “Siddhachal Phase VIII (Bldg no 4)” at Thane – part of an ongoing mini-township project
4. “Kalpataru Estate” at Pimple Gurav, Pune (Phase III) – a residential project
5. “Kalpataru Harmony” at Wakad, Pune– a residential project
The above new launches along with other ongoing residential projects, launched previously, received positive market response during the year.
During financial year 2010-11, a number of important milestones were achieved by Kalpataru, some of which they believe have a long term implications for the Group:
· Filing of Draft Red Herring Prospectus (‘DRHP’) with Securities Exchange Board of India (‘SEBI’) to initiate the process of equity capital raising through proposed Initial Public Offer (IPO) and listing of the Shares of the Company on National Stock Exchange and
· Bombay Stock Exchange
· Acquisition of five more re-development projects in Mumbai thereby reinforcing their belief to invest in developing their organizational capabilities in this segment
· Acquisition of / Arrangement for acquiring over 120 acres of land in Mumbai Metropolitan Region, Lonavala, Ahmedabad and Jaipur
AWARDS AND
RECOGNITION:
The Company received the following awards and recognitions:
· Rated as “India’s Top Builders” by Construction World magazine in year 2010 - Kalpataru Group.
· “Developer of the year – Residential” at The Realty Plus Excellence Awards 2011
· “Employer of the year in Real Estate” at The Realty Plus Excellence Awards 2011
· 5 star rating for “Best Architecture (multiple residences), India” at the Asia Pacific Residential Property Awards 2010 in association with Bloomberg Televison - Kalpataru Aura
· 5 star rating for “Best Office Development, India” at the Asia Pacific Commercial Property Awards 2010 in association with Bloomberg Televison – (Kalpataru Square, a commercial project at Andheri, Mumbai)
· “Emerging retailer of the year (Real Estate)” at the Asia Retail Congress Awards 2011 – Korum
· Citation award in the “Commercial Architecture” category in the FuturArc Green Leadership Award 2011 – (Kalpataru Square, a commercial project at Andheri, Mumbai)
· Merit Award for “Best Design (shopping centers and arcades)” at the VMRD Awards 2011 (– Korum Mall, Thane)
· Excellence in Commercial Segment (Eco-friendly Initiative)” at The Economic Times ACETECH 2010 Real Estate Awards – (Kalpataru Square, a commercial project at Andheri, Mumbai)
CONTINGENT
LIABILITIES NOT PROVIDED FOR (As on 31.03.2011)
a) The Company has given corporate guarantee of Rs. 8420.000 Millions (Rs. 5300.000 Millions) to various Banks/Financial Institutions on behalf of subsidiaries for Loans granted to them. Loans outstanding as on 31 March 2011 are Rs. 5136.683 Millions (Rs. 3727.365 Millions).
b) Uncalled liability on partly paid equity shares Rs. 63.000 Millions (Rs. 63.000 Millions).
c) Unexpired Letter of credit (net of liability provided) Rs. 19.485 Millions (Rs.13.613 Millions).
d) Claims against the Company not acknowledged as debt of Rs. 0.440 Million (Rs. 0.440 Million).
e) Disputed Income Tax Liabilities of Rs.0.300 Millions (Rs. Nil)
f) The Company had entered into agreements as business proposition of undertaking and performance guarantee with Caprihans India Limited for realisation of the agreed amount from sale of specified assets and investments, realisation from debtors within specified time. These specified assets include a property developed by Caprihans India Limited which is a matter of dispute with the owner of the land is referred to arbitration. The surplus / deficit arising out of arbitration award will be accounted in the year in which the same gets finally decided.
g) There are certain legal cases/disputes pending against the Company or filed by the Company. However, they are not likely to have any adverse material effect on the financial position of the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200MH1988PLC050144 |
|
Name of the
company |
KALPATARU LIMITED |
|
Address of the
registered office or of the principal place of business in |
91, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai
– 400 055, |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Cisco Systems Capital
(India) Private Limited, 2nd Floor,
Brigade South Parade, 10, M.G. Road, Bangalore – 560001, Karnataka, India |
|
Nature of
instrument creating charge |
Deed of Hypothecation
dated 5th November, 2012 entered into between the Company (Borrower) and
CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED (Lender) for Facility of
Rs.22.788 Millions granted by the Lender to the Company. |
|
Date of
instrument Creating the charge |
05.11.2012 |
|
Amount secured by
the charge |
Rs.22.788
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 9.95% per annum. Terms of Repayment As per repayment schedule
set out in Schedule A to Deed of Hypothecation. Extent and Operation of the charge Hypothecated
Fixed Assets as per Schedule B of Deed of Hypothecation enclosed. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecated Fixed Assets as per Schedule B of Deed of Hypothecation enclosed. |
FIXED ASSETS
·
Residential Properties
·
Construction Equipments
·
Furniture and Fixtures
·
Electrical Equipments
·
Vehicles
·
Computers
·
Office and Other Equipments
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. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.