MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAPPA BUILDCON LLP |
|
|
|
|
Registered
Office : |
'Arth Vishwa' 5 Lane, FP 353, S 26/3+4+5, Koregaon
Park, Pune - 411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.09.2010 |
|
|
|
|
Total Obligation
of Contribution: |
Rs.0.100 Million |
|
|
|
|
LLPIN: |
AAA-2325 |
|
|
|
|
Legal Form : |
Limited Liability Partnership. |
|
|
|
|
Line of Business
: |
Construction and Developers of Real Estate. |
|
|
|
|
No. of Employees
: |
600 (Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the limited liability partnership concern was incorporated
during 22nd September, 2010. Its project is still under
implementation. Mr. Harsh Solanke, Finance Credit Head has provided us with general
information. Further, he also confirmed that the project of the concern is
under implementation and it will get complete till 2018. Payments are unknown. The concern can be considered for business dealing on safe and secured
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 (GENERAL DETAILS)
|
Name : |
Ms. Dipti |
|
Designation : |
HR |
|
Tel. No.: |
91-20-26152921 |
|
Date : |
02.04.2014 |
|
Name : |
Mr. Harsh Solanke |
|
Designation : |
Finance Credit Head |
|
Tel. No.: |
91-20-26152921 |
|
Date : |
02.04.2014 |
LOCATIONS
|
Registered Office : |
'Arth Vishwa' 5 Lane, FP 353, S 26/3+4+5, Koregaon
Park, Pune - 411001, Maharashtra, India |
|
Tel. No.: |
91-20-26152921 |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Subhash Sitaram Goel |
|
Designation : |
Designated Partner |
|
Address : |
Goel Ganga Development, San Mahu Complex 5, Bund Garden Road, Pune –
41001, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1961 |
|
Date of Appointment : |
05.04.2011 |
|
PAN No.: |
AAWPG2100P |
|
DPIN No.: |
5006323 |
|
|
|
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Designated Partner |
|
Address : |
1 106/A 107/B Novelty Heritage Co-Op HSG Society, Near Chatushringi,
Shivajinagar, Pune – 4110016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
05.04.2011 |
|
PAN No.: |
AAIPL3274D |
|
Passport No.: |
E3463816 |
|
DPIN No.: |
5008256 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Designated Partner |
|
Address : |
Marvel Residency, Final Plot No. 394, S. No.
21-10B/1/A/3, South Main Road, Pune – 411001, Maharashtra, India |
|
Date of Appointment : |
22.09.2010 |
|
PAN No.: |
AAKPJ4693C |
|
DPIN No.: |
5006475 |
KEY EXECUTIVES
|
Name : |
Ms. Dipti |
|
Designation : |
HR |
|
|
|
|
Name : |
Mr. Harsh Solanke |
|
Designation : |
Finance Credit Head |
OBLIGATION DETAILS
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Construction and Developers of Real Estate. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Cheque |
|
|
|
|
Purchasing : |
L/C and Cheque |
GENERAL INFORMATION
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
600 (Approximately |
|
|
|
|
Bankers : |
State Bank of India, Tilak Road, Pune, Maharashtra, India |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KPMG Chartered Accountants |
|
|
|
|
Parent Company :
|
Marvel Realtors and Developers
Limited |
|
|
|
|
Sister Concern : |
Marvel Landmarks Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Total Obligation of Contribution: Rs.0.100
Million
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Contribution received |
|
0.100 |
0.100 |
|
2] Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
0.000 |
(0.017) |
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH |
|
0.100 |
0.083 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
|
|
|
|
Creditors/ trade payables – advance from customers |
|
0.000 |
0.000 |
|
Other Liabilities |
|
253.562 |
199.929 |
|
|
|
|
|
|
TOTAL |
|
253.662 |
200.012 |
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.047 |
0.000 |
|
|
|
|
|
|
Investment |
|
0.000 |
0.000 |
|
Loans and Advances |
|
210.200 |
200.000 |
|
Inventories |
|
39.329 |
0.000 |
|
Debtors/ trade receivable |
|
0.000 |
0.000 |
|
Cash and Cash equipment |
|
4.086 |
0.012 |
|
|
|
|
|
|
TOTAL |
|
253.662 |
200.012 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
|
0.178 |
0.000 |
|
|
|
Other Expenses |
|
0.914 |
0.017 |
|
|
|
TOTAL (B) |
|
1.092 |
0.017 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1.092) |
(0.017) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(1.092) |
(0.017) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.018 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(1.110) |
(0.017) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(1.110) |
(0.017) |
|
|
|
|
|
|
|
|
|
|
Profit transferred to partners account |
|
(1.110) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Profit transferred to Reserves and Surplus |
|
0.000 |
(0.017) |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
0.100 |
0.100 |
|
Reserves & Surplus |
|
(0.017) |
0.000 |
|
Net
worth |
|
0.083 |
0.100 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.000 |
0.000 |
|
Debt/Equity
ratio |
|
0.000 |
0.000 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
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] 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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
12 |
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.