MIRA INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAV DURGA CONSTRUCTION COMPANY |
|
|
|
|
Registered
Office : |
234/235/236, Big Splash, Sector 17, Vashi, Navi Mumbai-400705,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 [Provisional] |
|
|
|
|
Date of
Incorporation : |
01.02.2001 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.391.220 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFN0867H |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Real Estate Development. |
|
|
|
|
No. of Employees
: |
19 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having a satisfactory
track record. The concern is engaged in the real estate development. It is
performing well over years. Trade relations are reported are fair. Business is active. Payment
terms are slow but correct. The concern 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY
|
Name : |
Mr. Gurumukh Asrani |
|
Designation : |
Partner |
|
Contact No.: |
91-9819064028 |
|
Date : |
23.05.2013 |
LOCATIONS
|
Registered Office : |
234/235/236, Big Splash, Sector 17, Vashi, Navi Mumbai-400705,
Maharashtra, India |
|
Tel. No.: |
91-22-55910516 |
|
Mobile No.: |
91-9819064028 [Mr. Gurumukh Asrani] |
|
Fax No.: |
91-22-27898635 |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mrs. Manju V. Asrani |
|
Designation : |
Partner |
|
Address : |
132, Divya Swapna Co-operative Society Limited, Dr. C.G. Road,
Chembur, Mumbai-400074, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1960 |
|
Experience : |
10 Years |
|
Pan No.: |
ADBPA7950P |
|
|
|
|
Name : |
Mr. Gobind Rajaldas Jadhwani |
|
Designation : |
Partner |
|
Address : |
Safal Heights-1, V N Purva Marg, Moti Bagh, Chembur, Mumbai-400071,
Maharashtra, India |
|
Date of Birth/Age : |
05.12.1959 |
|
Qualification : |
Civil Engineer |
|
Experience : |
28 Years |
|
Pan No.: |
ACUPJ1698K |
|
|
|
|
Name : |
Mr. Gurumukh Asrani |
|
Designation : |
Partner |
|
Address : |
B-403, Swami Jairamdas Building, R.C. Marg, Chembur, Mumbai-400074,
Maharashtra, India |
|
Date of Birth/Age : |
10.02.1947 |
|
Qualification : |
Mechanical Engineer |
|
Experience : |
28 Years |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Development. |
GENERAL INFORMATION
|
No. of Employees : |
19 [Approximately] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Punjab National Bank, Jai Sai, 359, MDS Marg, Diamond, Chembur,
Mumbai-400071, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.C. Dholakia and Company Chartered Accountants |
|
Address : |
B-102, Kailas Esplanade, Opposite Shreyas Cinema, LBS Marg, Ghatkopar
(West), Mumbai-400086, Maharashtra, India |
|
Mobile No.: |
91-9819098264 |
|
E-Mail : |
|
|
|
|
|
Sister Concern : |
Jai Mata Di Construction Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.391.220 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.391.220 Millions |
AS ON 31.03.2012
CAPITAL ACCOUNTS
FOR THE YEAR 31.03.2012
Rs. in Millions
|
MRS. MANJU V.
ASRANI |
|||
|
Particular |
Amount |
Particular |
Amount |
|
To Income Tax
A.Y. 11-12 |
1.795 |
By Balance B/F |
349.718 |
|
To Self Ass. Tax
A.Y. 11-12 |
2.032 |
By Net Profit |
7.454 |
|
To TDS on FD
A.Y. 11-12 |
0.082 |
By Bank |
30.760 |
|
|
|
|
|
|
To Balance C/F |
384.023 |
|
|
|
|
|
|
|
|
TOTAL |
387.932 |
TOTAL |
387.932 |
|
|
|
|
|
|
MR. GOBIND RAJALDAS JADHWANI |
|||
|
Particular |
Amount |
Particular |
Amount |
|
To Income Tax
A.Y. 11-12 |
0.713 |
Y Balance B/F |
14.380 |
|
To Self Ass. Tax
A.Y. 11-12 |
0.807 |
By Net Profit |
2.958 |
|
To TDS on FD
A.Y. 11-12 |
0.032 |
|
|
|
To Bank |
1.470 |
|
|
|
|
|
|
|
|
To Balance C/F |
14.316 |
|
|
|
|
|
|
|
|
TOTAL |
17.338 |
TOTAL |
17.338 |
|
|
|
|
|
|
MR. GURUMUKH C.
ASRANI |
|||
|
Particular |
Amount |
Particular |
Amount |
|
To Income Tax
A.Y. 11-12 |
0.342 |
By Balance B/F |
4.276 |
|
To Self Ass. Tax
A.Y. 11-12 |
0.387 |
By Net Profit |
1.420 |
|
To TDS on FD
A.Y. 11-12 |
0.015 |
By Bank |
3.998 |
|
|
|
|
|
|
To Balance C/F |
8.950 |
|
|
|
|
|
|
|
|
TOTAL |
9.694 |
TOTAL |
9.694 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 [Provisional] |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
391.220 |
407.289 |
368.374 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
391.220 |
407.289 |
368.374 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.084 |
1.051 |
1.860 |
|
|
2] Unsecured Loans |
48.625 |
48.819 |
0.000 |
|
|
TOTAL BORROWING |
49.709 |
49.870 |
1.860 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
440.929 |
457.159 |
370.234 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.727 |
5.666 |
6.647 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1107.066
|
930.269 |
741.626 |
|
|
Sundry Debtors |
0.000
|
5.557 |
3.964 |
|
|
Cash & Bank Balances |
15.733
|
36.264 |
27.288 |
|
|
Other Current Assets |
51.281
|
81.375 |
59.037 |
|
|
Loans & Advances |
0.040
|
0.025 |
0.113 |
|
Total
Current Assets |
1174.120
|
1053.490 |
832.028 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
739.919
|
601.998 |
468.442 |
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
739.919
|
601.998 |
468.442 |
|
|
Net Current Assets |
434.201
|
451.492 |
363.586 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
440.929 |
457.159 |
370.234 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 [Provisional] |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
36.334 |
|
|
|
Other Income |
0.697 |
14.620 |
1.751 |
|
|
|
Closing Stock |
1107.066 |
930.270 |
741.626 |
|
|
|
TOTAL |
1107.763 |
944.890 |
779.711 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Stock |
930.270 |
741.626 |
339.271 |
|
|
|
Purchases |
37.699 |
65.904 |
99.133 |
|
|
|
Direct Expenses |
110.177 |
105.038 |
301.036 |
|
|
|
Indirect Expenses |
17.506 |
20.490 |
21.125 |
|
|
|
TOTAL |
1095.652 |
933.058 |
760.565 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.111 |
11.832 |
19.146 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.861 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
11.250 |
11.832 |
19.146 |
|
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 [Provisional] |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.02
|
1.25 |
2.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
52.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.95
|
1.12 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13
|
0.12 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.75 |
1.77 |
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 |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
As on 31.03.2013 [Provisional] |
As on 31.03.2012 |
|
|
Rs. in Millions |
|
|
Jai Mata Di Home Construction Private Limited |
48.625 |
48.819 |
|
TOTAL
|
48.625 |
48.819 |
FIXED ASSETS:
- Motor Car
- Furniture and
Fixtures
- Office
Equipments
- Air
Conditioner
- Lift
- Diesel
Engines
- Computer
- EPBX
- Xerox Machine
- Water Cooler
- Machinery
- Printer
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF STATEMENT TO
TOTAL INCOME
(RS. IN
MILLIONS)
|
PARTICULAR |
31.03.2012 |
|
Net Profit As Per Profit And Loss Account |
11.832 |
|
Add: Donation |
0.013 |
|
Less: Deduction U/S 80G 0.013 million @50% |
0.006 |
|
|
|
|
TOTAL INCOME |
11.839 |
|
|
|
|
ROUNDED OFF TO |
11.839 |
|
|
|
|
Tax Position |
|
|
Tax Payable |
3.552 |
|
Add: Education Cess @ 2% |
0.071 |
|
Add: Secondary and Higher Education Cess @
1% |
0.035 |
|
|
|
|
TAX PAYABLE |
3.658 |
|
|
|
|
Less: |
|
|
Prepaid Taxes |
|
|
Advance Tax |
3.000 |
|
TDS on FD |
0.239 |
|
|
|
|
TAX PAYABLE |
0.419 |
|
|
|
|
Add: Interest U/S. 234 B |
0.025 |
|
Interest U/S. 234 C |
0.021 |
|
|
|
|
S.A. PAID DATED
13.09.2012 |
0.465 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
(RS. IN MILLIONS)
|
PARTICULAR |
AMOUNT |
|
|
|
|
Mrs. Manu V. Asrani |
521.210 |
|
|
|
|
Mr. Gurumukh C. Asrani |
7.942 |
|
|
|
|
Mr. Gobind Rajaldas Jadhwani |
62.060 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF WORKING CAPITAL REQUIREMENT
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
Projected |
||
|
|
|
||
|
Gross Sales/
Services Local |
270.111 |
567.593 |
1539.752 |
|
Gross Sales Exports |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Less: Excise Duty |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net Sales |
270.111 |
567.593 |
1539.752 |
|
|
|
|
|
|
COST
OF SALES |
|
|
|
|
|
|
|
|
|
Raw Material (Including Stored and Other items used in the process of Manufacture) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
70.000 |
90.000 |
60.000 |
|
|
|
|
|
|
Others (Consumable) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Power and Fuel |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Direct Labour (Factory Wages and Salary) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Manufacturing Expenses |
180.000 |
170.000 |
105.000 |
|
|
|
|
|
|
Depreciation |
1.010 |
0.846 |
0.715 |
|
|
|
|
|
|
Sub Total |
251.010 |
260.846 |
165.715 |
|
|
|
|
|
|
Add: Opening W.I.P.
|
1107.066 |
1193.954 |
1042.364 |
|
Deduct Closing W.I.P. |
1193.954 |
1042.364 |
1020.000 |
|
Sub
Total |
164.122 |
412.436 |
188.079 |
|
|
|
|
|
|
Add: Opening F.G.S. |
0.000 |
0.000 |
0.000 |
|
Deduct Closing F.G.S. |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
Cost of Sale |
164.122 |
412.436 |
188.079 |
|
|
|
|
|
|
Gross Profit |
105.989 |
155.157 |
1351.673 |
|
|
|
|
|
|
Selling, General and Administrative
Expenses |
17.500 |
0.000 |
0.000 |
|
|
|
|
|
|
Interest |
13.750 |
12.187 |
4.687 |
|
|
|
|
|
|
Operating Profit |
74.739 |
142.970 |
1346.986 |
|
|
|
|
|
|
Deduct Other Non-Operating Expenses |
0.500 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of Other Non-Operating Income/Expenses |
0.500 |
0.000 |
0.000 |
|
|
|
|
|
|
Profit before
Taxes |
75.239 |
142.970 |
1346.986 |
|
|
|
|
|
|
Less: Tax Provision |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net Profit After
Tax |
75.239 |
142.970 |
1346.986 |
BREAK UP OF
INTEREST
|
Finance expenses (Secured Loan) |
13.750 |
12.187 |
4.687 |
|
Finance expenses (Unsecured Loan) |
0.000 |
0.000 |
0.000 |
|
Finance expenses (Partners Capital) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total Interest |
13.750 |
12.187 |
4.687 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
Projected |
||
|
CURRENT
LIABILITIES |
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
From CBI |
0.000 |
0.000 |
0.000 |
|
From Other Banks |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub
Total (A) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Short Term Borrowings from others |
0.000 |
0.000 |
0.000 |
|
Sundry creditors [Trade] |
0.000 |
0.000 |
0.000 |
|
Sundry creditors [Expenses] |
0.000 |
0.000 |
0.000 |
|
Unsecured loans |
48.625 |
48.625 |
48.625 |
|
Other current liabilities and provisions |
700.000 |
990.000 |
1005.000 |
|
|
|
|
|
|
Sub
– Total (B) |
748.625 |
1038.625 |
1053.625 |
|
|
|
|
|
|
Total
Current Liabilities (A+B) |
748.625 |
1038.625 |
1053.625 |
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Preferences Shares (Redeemable after one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Prop. Term Loan excluding installments < 1 year |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term Loans |
100.000 |
57.845 |
4.790 |
|
|
|
|
|
|
Deferred Installment (Due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term deposit (repayable one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total
Term Liabilities |
100.000 |
57.845 |
4.790 |
|
Total
of Outside Liabilities |
848.625 |
1096.470 |
1058.415 |
|
|
|
|
|
|
Net
Worth |
|
|
|
|
Share / Partners Capital Account |
421.096 |
470.811 |
615.791 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
|
Shares Premium Account |
0.000 |
0.000 |
0.000 |
|
Plus (+) or deficit (-) in Profit and Loss Account others (Specify) |
75.239 |
123.223 |
319.548 |
|
Differed Tax Liability |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net Worth |
496.335 |
594.034 |
935.339 |
|
|
|
|
|
|
TOTAL LIABILITIES |
1269.721 |
1567.281 |
1674.206 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
20.000 |
120.000 |
150.00 |
|
|
|
|
|
|
Govt. and other trust securities |
0.001 |
0.001 |
0.001 |
|
|
|
|
|
|
Fixed deposit with bank |
15.000 |
150.000 |
250.000 |
|
|
|
|
|
|
Receivable Other than Exports |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Stock – in – process |
1193.954 |
1042.360 |
1020.000 |
|
Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.000 |
0.000 |
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
|
Other current assets (specify major items ) |
35.000 |
250.000 |
250.000 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
1263.955 |
1562.361 |
1670.001 |
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
Gross Block |
6.726 |
5.716 |
4.870 |
|
Depreciation to date |
1.010 |
0.846 |
0.715 |
|
|
|
|
|
|
NET
BLOCK |
5.716 |
4.870 |
4.155 |
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
0.000 |
0.000 |
0.000 |
|
Investment in subsidiary company |
0.000 |
0.000 |
0.000 |
|
Others Investment |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Loans Advances |
0.050 |
0.050 |
0.050 |
|
|
|
|
|
|
Others
Debtors (6 month) |
|
|
|
|
Security Deposits |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.050 |
0.050 |
0.050 |
|
|
|
|
|
|
Intangible assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
ASSETS |
1269.721 |
1567.281 |
1674.206 |
|
|
|
|
|
|
Tangible Net Worth |
496.335 |
594.034 |
935.339 |
|
|
|
|
|
|
Net Working Capital |
590.569 |
646.959 |
935.924 |
------------------------------------------------------------------------------------------------------------------------------
CALCULATION OF DSCR
(RS. IN MILLIONS)
|
Particular |
FY 2013-14 |
FY 2014-15 |
FY 2015-16 |
Total |
|
Capital + PAT |
93.866 |
97.699 |
341.305 |
532.870 |
|
Add: Deprecation |
1.010 |
0.846 |
0.715 |
2.571 |
|
Add: Interest on Term Loan |
13.750 |
12.187 |
4.687 |
30.624 |
|
Add: Increase Term Loan |
100.000 |
0.000 |
0.000 |
100.000 |
|
Add: Increase Unsecured Loan |
0.000 |
0.000 |
0.000 |
0.000 |
|
Add: Increase Current Liabilities [Excluding
upcoming projects] |
(39.919) |
290.000 |
15.000 |
265.081 |
|
TOTAL (A) CASH INFLOWS |
168.707 |
400.732 |
361.707 |
931.146 |
|
|
|
|
|
|
|
Less: Increase in Project Assets [Excluding
upcoming projects] |
(91.190) |
111.518 |
229.230 |
249.558 |
|
Less: Increase in Fixed Assets |
(1.010) |
(0.846) |
(0.715) |
(2.571) |
|
Less: Increase in Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
TOTAL (B) NET CASH INFLOW |
260.907 |
290.060 |
133.192 |
684.159 |
|
|
|
|
|
|
|
Add: Installment of T/L |
0.000 |
50.000 |
50.000 |
100.000 |
|
Interest |
13.750 |
12.187 |
4.687 |
30.624 |
|
Total (C) Repayment Obligations |
13.750 |
62.187 |
54.687 |
130.624 |
|
Net Cash Balance (D) |
247.157 |
227.873 |
78.505 |
553.535 |
|
|
|
|
|
|
|
DSCR (B/C) |
18.98 |
4.66 |
2.44 |
5.24 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Purpose of Valuation |
Loan Purpose of Central Bank of India |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Visit Date, Time and Mobile No.: |
19.04.2013 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Person/s accompanying/available at the site
at the time of visit/ inspection/ valuation |
Mr. Pradeep Nair |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name and address of the owner |
Jai Mata Di Home Construction Private
Limited The said property is Unit No. 2, Basement +
Ground + First Floor, Commercial Building on Plot Bearing CTS No. 396/A,
“Safal Pride”, Sion-Trombay Road, Opposite Saras Baug, Deonar, Chembur,
Mumbai-88. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Title to Property |
Sion Trombay Road, Opposite Saras Baug,
Deonar, Chembur |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Location, Street, Ward No. |
CTS No. 396/A, 396A/2, Plot No. 2 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Since how long owning the property |
2009 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether Joint/Co-Ownership/Others |
Sole Ownership |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
In case of joint ownership please furnish
shares of each owner and also whether the shares are undivided |
N.A |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether assessed to wealth tax-if so wealth
tax paid |
No |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Corporation tax paid |
Yes |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
The market value |
Rs.199.760 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
The realizable value of the above property
is |
Rs.149.820 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
The distressed sale value of the above
property approved |
Rs.127.347 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Location advantages/Disadvantages |
Commercial Area |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Classification of locality higher
class/middle class/poor class |
High Class |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Boundaries of the property |
CTS No. 396/A (Safal Pride) East: Parking Area West: IDBI Bank South: Sion-Trombay Road North: Lift/Side Margin |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Proximity to surface communication |
Way from the property |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Distance from the city/municipal limits |
Under BMC Limits |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
If the property is not within the
city/town/municipal limits then state the distance of the property from the |
Under BMC Limits |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Municipal Office |
Yes |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Municipal Limits |
Under BMC Limits |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Disadvantage if any to be specified |
No |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Title To
Property |
|||||||||||||||||||||
|
Whether freehold |
Freehold |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
If not freehold, what is the unexpired
period of the lease |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
If leasehold name of the lesser/lessee, of
lease date of commencement and terms of renewal of lease |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Type Of The
Property – Whether |
|||||||||||||||||||||
|
Residential [Flat/Apartment ] |
Commercial Area |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
What Is The |
|
||||||||||||||||||||
|
Year of acquisition/ purchase of land |
2009 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Building Life |
Approx 51 Years |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Number of Floor/Stories |
Basement+Ground+6th Floor |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Year of Completion and Commencement |
Commencement Certificate No.: CE/6008/BPES/AM, Dated 13.10.2006. Completion Certificate No.: CE/6008/BPES/AM, Dated 04.12.2009. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Cost of Construction |
|||||||||||||||||||||
|
Rate and amount of depreciation |
No |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Present written down |
No |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Valuer’s opinion regarding the present
condition/state of building |
Good for commercial locality. Sion-Trombay
Road Front Commercial Building. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Area of land to be supported by a map showing
shape, dimensions and physical features |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Has the whole or part of the land been
notified for acquisition by government or statutory body? If so, give details
|
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Area of building/ constructed portion (state
separately for factory, admin, building, staff quarters, etc.) |
Super Built Up Area: Unit No. 2 Basement Floor: 1970.00 sq. ft.
[183.14 sq. mt.] Unit No. 2 Ground Floor: 1882.00 sq. ft.
[174.93 sq. mt.] Unit No. 2 First Floor: 1416.00 sq. ft. Total Super Built up Area: 358.03 sq. mt. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Type/Class of Construction |
R.C.C. Foundation and Structure |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Service items available (list of all the
bore well, pump, embedded motors) |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
It the property in industrial |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether the property is residential
flat/apartment if so, then state |
N.A. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
When the building was constructed |
2009 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
If the property is of a commercial type –
state |
No |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Basis of present valuation for flat |
Market Value of 199.760 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Present Depreciated Value |
Rs.159.808 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Market Value |
Rs.199.760 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Rate Adopted |
Rs.25000/- to Rs.30000/- per sq. ft. for
basement floor super built up area rate Rs.45000/- to Rs.50000/- per sq. ft.
for ground floor super built up area rate Rs.30000/- to Rs.35000 per sq. ft.
for first floor super built up area rate. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Based for rate adopted |
As per market rate and local enquiry |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether the adopted rates are commensurate
with the rates adopted by the registrar’s office? In case of wide |
Yes |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether the adopted rates have any
relationship with those adopted by the IT Department |
Yes |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Whether the rates are based on prevalent
rates in the area, if so, the basis for accepting the same |
By making BMC |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
In case of increase in present valuation
over the previous valuation, then furnish the specific reasons, basis for the
increase in value and the details of variation |
No Applicable |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Total Market Value |
Rs.199.760 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
In case the bank were to sell the property
what would be the approx. realizable value (forced sale value) |
Rs.149.820 Millions |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Sources in information for arriving at the
forced sale value |
By making local enquiries and personal
judgment |
||||||||||||||||||||
Name of the owner: Jai Mata Di Home
Construction Private Limited
The site property is, Unit No. 2 Basement +
Ground + First Floor, Commercial Building on plot bearing CTS No. 396/A, “Safal
Pride”, Sion-Trombay Road, Opposite Saras Baug, Deonar, Chembur, Mumbai-88.
|
AREA OF BASEMENT
AND GROUND FLOOR – SAFAL PRIDE |
|||
|
Unit |
Usable Carpet
Area |
B.U. Area |
Super B.U. Area |
|
Unit 2 Basement |
1271.00 Sq. Ft. [118.14 Sq. Mt.] |
1373.00 Sq. Ft. [127.59 Sq. Mt.] |
1970.00 Sq. Ft. [183.1 Sq. Mt.] |
|
|
|
|
|
|
Unit 2 Ground Floor |
2114.00 Sq. Ft. [112.85 Sq. Mt.] |
1311.00 Sq. Ft. [121.88 Sq. Mt.] |
1882.00 Sq. Ft. [174.93 Sq. Mt.] |
|
|
|
|
|
|
Unit 2 First Floor |
1416.00 Sq. Ft. [131.56 Sq. Mt.] |
1529.00 Sq. Ft. [142.08 Sq. Mt.] |
2194.00 Sq. Ft. [203.92 Sq. Mt.] |
|
TOTAL |
23.99 |
249.47 |
358.03 |
SCOPE OF VALUATION:
Talking in to consideration the purpose of
this valuation macro identification of the company is done.
The following information is given importance:
Infrastructure, facilities and amenities,
means of transportation facilities, extent of land, standard of maintenance,
type of technology, type of zone and F.S.I. available, safety measure, types of
service etc.
PHYSICAL:
Detail enquiry in the vicinity with the estate
agents and local people and builder and developers is done.
BUILDING MEASUREMENTS-EXTERNAL, INTERNAL:
The built up area of various building was
measured on site and it is taken as per the sanctioned building plan.
BUILDING SPECIFICATIONS:
Technical specification of various building,
type and quality of material used, workmanship, lead and lift conditions on the
site, contractor’s profit etc., were considered while obtaining the rate of
various construction.
ELEVATION AND ORIENTATION:
Architectural work involved in elevation
treatment and proper planning and orientation of various buildings according to
its function was studied.
AGE:
It is obtained from building plant and
commencement certificate shown by technical officer of the company.
LEGAL:
Freehold of leasehold. Details of title
restriction such as
INTEREST:
Restrictive covenants – This is freehold land and
false under the limit of BMC. Property permission is obtained for setting of
the project from government authorizes. The shape of the land is nearly
rectangular.
FAIR MARKET VALUE:
Market value is the estimated amount for which
an asset should exchange on the date of valuations between a willing buyer and
a willing seller in an arm’s length transaction after proper marketing wherein
the parties had each acted knowledgeably and without compulsion. (As defined by
the international valuation standards committee, London.) Thus, the
characteristics of the market value are:
- It is a free
will sale.
- It is an
estimated amount and not a predetermined or an actual sale price.
- It is
time-specific as on the given date.
- It depends on
purpose of valuation.
- Buyer and
seller are actuated by business principles. They are unrelated and are
acting independently.
- Asset would
be exposed to the market in the most appropriate manner to effect its
disposal at the best price possible.
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 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.55.60 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.