MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PANORAMIC UNIVERSAL LIMITED |
|
|
|
|
Registered
Office : |
Aman Chambers, 4th floor, Opposite New Passport Office,
Veer Savarkar Road, Prabhadevi, Mumbai – 400025, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066856 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.888.725 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L67190MH1992PLC066856 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is
engaged in IT business and Hospitality business
comprising customers providing software products, Room Rentals, Food and
Beverages and allied services relating to hotel operations. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
Maximum Credit Limit : |
USD 7200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects sound financial risk profile marked by decent
profitability levels and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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
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 DENIED
Management Non Co-operative (91-22-66164000)
LOCATIONS
|
Registered / Corporate Office : |
Aman Chambers, 4th floor, Opposite New Passport Office,
Veer Savarkar Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-66164000 |
|
Fax No.: |
91-22-24211260 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Sudhir Moravekar |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Arun Tari |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mrs. Viidyaa Moravekar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Abeezar Faizullabhoy |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajendra Gawde |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Siddhartha Moravekar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dnyanaraj Moravekar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mehul Parekh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vilas Mitbawkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Hemlata Sawant |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Sanjive Arora |
|
Designation : |
Group Company Secretary |
SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
772800 |
0.99 |
|
|
18369768 |
23.63 |
|
|
19142568 |
24.62 |
|
|
|
|
|
|
38698812 |
49.78 |
|
|
38698812 |
49.78 |
|
Total shareholding of Promoter and Promoter Group (A) |
57841380 |
74.40 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
4656558 |
5.99 |
|
|
4656558 |
5.99 |
|
|
|
|
|
|
3411344 |
4.39 |
|
|
|
|
|
|
7072166 |
9.10 |
|
|
3752582 |
4.83 |
|
|
1010970 |
1.30 |
|
|
87297 |
0.11 |
|
|
923673 |
1.19 |
|
|
15247062 |
19.61 |
|
Total Public shareholding (B) |
19903620 |
25.60 |
|
Total (A)+(B) |
77745000 |
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) |
77745000 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Pancard Clubs Limited |
1,76,25,000 |
22.67 |
|
Manda Mohan Phatarphekar |
7,04,400 |
0.91 |
|
Usha Arun Tari |
60,000 |
0.08 |
|
Usha Arun Tari |
6,000 |
0.01 |
|
Deepashree Arun Tari |
2,400 |
0.00 |
|
Panoramic Resorts India Limited |
4,87,368 |
0.63 |
|
Panoramic Land Developers Private Limited |
2,57,400 |
0.33 |
|
Sudhir Shankar Moravekar |
3,86,98,812 |
49.78 |
|
Total |
5,78,41,380 |
74.40 |
(*) The term encumbrance has the same meaning as assigned to
it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
General Insurance Corporation of India |
2093700 |
2.69 |
|
Shree Blessing Shares and Stock Private Limited |
1118995 |
1.44 |
|
United India Insurance Company Limited |
2562858 |
3.30 |
|
Total |
5775553 |
7.43 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in IT business and Hospitality business
comprising customers providing software products, Room Rentals, Food and Beverages
and allied services relating to hotel operations. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Maharashtra ·
The Saraswat Co-op. Bank
Limited ·
HDFC Bank Limited ·
Axis Bank Limited ·
Union Bank of India ·
ING Vysya Bank ·
State Bank of India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
NOTES: Long Term
Borrowings: Additional
information : **Secured
loan from Saraswat Co-op Bank Limited is secured by mortgage of Premises at
4th Floor, Aman Chambers, Prabhadevi, Mumbai 400025 and property at Panoramic
Resort, Panvel. ***
Secured loan from Indiabulls Financial Services Limited is secured against
shop premises at Nav Bhavana Premises CHS Ltd. at Prabhadevi, Mumbai 400025. Short Term
Borrowings: **Cash
Credit from Saraswat Co-op Bank Ltd is secured by hypothecation of book debts
and mortgage of Office Premises at 4th floor, Aman Chambers, Prabhadevi, Mumbai-400
025 and property at Panvel Resorts & Water Park. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. H. Topiwala and Company Chartered Accountants |
|
|
|
|
Subsidiaries (Direct
holding) : |
·
Indo Pacific Hotels Limited ·
Panoramic Holidays Limited ·
Panoramic Tour and Travels
Limited ·
Sri Vatsa Hotels Limited ·
Panoramic Ace Properties Inc., ·
Sai Properties Inc., ·
Sai Motels Limited, New Zealand ·
Starting Right Investments Two
Two Five (Pty) Limited,Namibia ·
Seaview Homes Co., Ltd,
Thailand ·
Panoramic Singapore Hospitality
Pte. Ltd, Singapore ·
Panoramic Holidays JLT, Dubai |
|
|
|
|
Subsidiaries ( Indirect
holding) : |
·
Georgian Motel Corp., USA ·
Sai Living Hudson Inc., USA ·
Travel Universe Inc., USA |
|
|
|
|
Enterprises Controlled by
directors/relatives : |
·
Pancard Clubs Limited ·
Pan Herbbo Limited ·
Herbo Effect India Limited ·
Panoramic Resorts (India)
Limited ·
Sai Nirmaan Properties Limited ·
Hotel Pinnacle Limited ·
Panoramic Record Storage &
Management Limited (formerly Athiti Resorts Limited) ·
Golden Valley Hotels Limited ·
Seaview Retreats Limited ·
Panoramic Unnathi Private
Limited ·
Leo Resorts and Hotels Private
Limited ·
Vidnyan Siddhi Films Limited ·
Coronae Hotels Private Limited ·
Panoramic Leisure Getaways Private
Limited (formerly M. J. Corru-Pack Industry Private Limited) ·
Panoramic Agriculture and Farms
Private Limited ·
Panoramic Hotels Limited ·
Pan Product Impex Private
Limited ·
Panoramic Structures Private
Limited ·
Panoramic Land Developers
Private Limited ·
Panoramic Investment Advisors
Private Limited ·
Smooth Financials Private
Limited ·
Panoramic Husbandries Private
Limited ·
Panoramic Agricultural Services
Private Limited ·
Panoramic Greeneries Private
Limited ·
Brahma Creations Private
Limited ·
Pancard Holiday Limited ·
Panoramic Agrobased Services
Private Limited ·
Panoramic Agrovet Private
Limited ·
Panoramic Croplands Private
Limited ·
Panoramic Farm-Holdings Private
Limited ·
Panoramic Krishi Utpad Private
Limited ·
Panoramic Agrobusiness Private
Limited ·
Panoramic Farmhouse Private
Limited ·
Panoramic Farmery Private
Limited ·
Panoramic Bhoomi Utpadan
Private Limited ·
Panoramic Dhaan Samruddhi
Private Limited ·
Grand View Hotel, Restaurant
& Bar ·
Graciano Cottages ·
Panoramic Realestate
Consultants LLP |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.5/- each |
Rs.1250.000 Millions |
|
300000000 |
Preference Shares |
Rs.5/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2750.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77745000 |
Equity Shares |
Rs.5/- each |
Rs.388.725 Millions |
|
100000000 |
7% Non-Convertible Redeemable Preference Shares |
Rs.5/- each |
Rs.500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.888.725
Millions |
a.
Reconciliation of the number of shares and Share
Capital
|
Name of
Shareholder |
Number
of Shares |
Rs. In Millions |
|
Equity Shares |
|
|
|
Opening Balance as at April 1,
2012 |
77745000 |
388.725 |
|
Movement during the year |
-- |
-- |
|
Closing Balance as at March 31,
2013 |
77745000 |
388.725 |
|
Preference Shares |
|
|
|
Opening Balance as at April 1,
2012 |
100000000 |
500.000 |
|
Movement during the year |
-- |
-- |
|
Closing Balance as at March 31,
2013 |
100000000 |
500.000 |
b.
Rights,
preferences and restrictions attached to shares
Equity
shares
The
Company has one class of equity shares having a par value of ` 5 each. Each shareholder
is eligible for one vote per share held. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting, except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
Preference
shares
Preference
shares would be redeemable at par at any time within twenty years from the date
of attotment i.e. January 08, 2008, at the option of the Company and the
Company may apply any profits or money of the Company which may lawfully be
applied for the purpose, of redemption of the Redeemable Preference Shares and
the Board may determine the manner/procedure for redemption at its discretion
as it may deem fit. These shares would carry dividend of 7% per annum.
c.
Details of shares held by each
shareholder holding more than 5 percent of the issued share capital.
|
Name of
Shareholder |
Number
of Shares |
|
Equity shares |
|
|
Mr. Sudhir S. Moravekar |
38698812 |
|
|
49.78% |
|
Pancard Clubs Limited |
|
|
Preference shares |
|
|
Pancard Clubs Limited |
100000000 |
|
|
100.00% |
d.
Shares allotted as fully paid up by
way of bonus shares (during 5 years preceding March 31, 2013)
The
Company allotted 6,47,87,500 equity shares (in the ratio 5:1) as fully paid up bonus
shares by utilising the General Reserves of the Company pursuant to the
approval of the Members of the Company vide postal ballot on 10th June, 2010.
e.
Other information regarding issue of
shares in last five years
a)
The Company has not issued any shares without payment being received in cash.
b)
The Company has not undertaken any buy-back of shares.
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 |
888.725 |
888.725 |
888.725 |
|
(b) Reserves & Surplus |
929.787 |
816.150 |
713.823 |
|
(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) |
1818.512 |
1704.875 |
1602.548 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
6.879 |
31.014 |
|
(b) Deferred tax liabilities (Net) |
24.577 |
18.499 |
8.061 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.067 |
5.306 |
6.944 |
|
Total Non-current
Liabilities (3) |
30.644 |
30.684 |
46.019 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1049.777 |
899.124 |
530.203 |
|
(b) Trade
payables |
8.955 |
4.015 |
19.066 |
|
(c) Other
current liabilities |
38.172 |
46.311 |
60.858 |
|
(d) Short-term
provisions |
88.293 |
87.620 |
87.287 |
|
Total Current
Liabilities (4) |
1185.197 |
1037.070 |
697.414 |
|
|
|
|
|
|
TOTAL |
3034.353 |
2772.629 |
2345.981 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
990.238 |
922.830 |
857.355 |
|
(ii)
Intangible Assets |
44.624 |
47.684 |
15.456 |
|
(iii)
Capital work-in-progress |
66.170 |
67.756 |
69.829 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
860.018 |
832.626 |
829.506 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
122.459 |
190.234 |
159.086 |
|
(e) Other
Non-current assets |
0.180 |
3.630 |
7.080 |
|
Total Non-Current
Assets |
2083.689 |
2064.760 |
1938.312 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
20.000 |
20.000 |
20.000 |
|
(b)
Inventories |
0.842 |
1.049 |
0.865 |
|
(c) Trade
receivables |
73.027 |
228.580 |
134.678 |
|
(d) Cash
and cash equivalents |
65.359 |
22.521 |
21.381 |
|
(e)
Short-term loans and advances |
779.982 |
432.373 |
229.726 |
|
(f) Other
current assets |
11.454 |
3.346 |
1.019 |
|
Total
Current Assets |
950.664 |
707.869 |
407.669 |
|
|
|
|
|
|
TOTAL |
3034.353 |
2772.629 |
2345.981 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
550.435 |
449.764 |
713.057 |
|
|
|
Other Income |
20.655 |
31.799 |
9.162 |
|
|
|
TOTAL (A) |
571.090 |
481.563 |
722.219 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
24.101 |
21.684 |
14.256 |
|
|
|
Purchase of Stock-in-trade |
0.000 |
0.000 |
272.611 |
|
|
|
Employee Benefits Expenses |
88.857 |
85.153 |
110.418 |
|
|
|
Other Expenses |
95.992 |
70.285 |
65.830 |
|
|
|
TOTAL (B) |
208.950 |
177.122 |
463.115 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
362.140 |
304.441 |
259.104 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.250 |
2.039 |
3.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
360.890 |
302.402 |
255.156 |
|
|
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/
AMORTISATION (F) |
26.222 |
19.795 |
15.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
334.668 |
282.607 |
239.728 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
111.500 |
94.230 |
56.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
223.168 |
188.377 |
183.156 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
674.116 |
590.626 |
578.398 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT
FOR EARLIER YEAR FOR TAX (NET) |
0.000 |
0.000 |
84.929 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
22.317 |
18.838 |
170.000 |
|
|
|
Proposed Dividend on Equity Shares |
38.873 |
38.873 |
38.873 |
|
|
|
Proposed Dividend on Preference Shares |
35.000 |
35.000 |
35.000 |
|
|
|
Provision for Tax on dividend |
12.555 |
11.984 |
11.984 |
|
|
|
Tax adjustment for earlier years |
23.103 |
0.192 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
765.436 |
674.116 |
590.626 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software Export |
321.931 |
288.531 |
329.152 |
|
|
TOTAL EARNINGS |
321.931 |
288.531 |
329.152 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
4.123 |
Nil |
Nil |
|
|
TOTAL IMPORTS |
4.123 |
Nil |
Nil |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.34 |
1.90 |
1.83 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
130.600 |
135.000 |
135.600 |
|
Total Expenditure |
47.600 |
52.200 |
57.400 |
|
PBIDT (Excluding Other Income) |
83.000 |
82.800 |
78.200 |
|
Other income |
29.500 |
7.600 |
3.600 |
|
Operating Profit |
112.500 |
90.400 |
81.800 |
|
Interest |
0.200 |
0.200 |
0.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
112.300 |
90.300 |
81.700 |
|
Depreciation |
7.700 |
7.700 |
8.200 |
|
Profit Before Tax |
104.600 |
82.600 |
73.500 |
|
Tax |
35.600 |
31.100 |
24.700 |
|
Profit after tax |
69.000 |
51.500 |
48.800 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
69.000 |
51.500 |
48.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
39.08 |
39.12 |
25.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
60.80 |
62.83 |
33.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.87 |
15.09 |
16.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.17 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58 |
0.53 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.68 |
0.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
888.725 |
888.725 |
888.725 |
|
Reserves & Surplus |
713.823 |
816.150 |
929.787 |
|
Net
worth |
1602.548 |
1704.875 |
1818.512 |
|
|
|
|
|
|
long-term borrowings |
31.014 |
6.879 |
0.000 |
|
Short term borrowings |
530.203 |
899.124 |
1049.777 |
|
Total
borrowings |
561.217 |
906.003 |
1049.777 |
|
Debt/Equity
ratio |
0.350 |
0.531 |
0.577 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
713.057 |
449.764 |
550.435 |
|
|
|
-36.925 |
22.383 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
713.057 |
449.764 |
550.435 |
|
Profit |
183.156 |
188.377 |
223.168 |
|
|
25.69% |
41.88% |
40.54% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
(Rs.
In Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Other current liabilities consist of the following : |
|
|
|
|
Secured |
|
|
|
|
From bank* |
1.695 |
20.004 |
20.004 |
|
From others** |
3.284 |
2.430 |
4.932 |
|
Unsecured |
|
|
|
|
Unpaid dividends |
0.957 |
0.417 |
0.472 |
|
Other payables*** |
32.236 |
23.460 |
35.450 |
|
|
|
|
|
|
Additional information: |
|
|
|
|
Current maturities of long-term
borrowing consist of : |
|
|
|
|
* Secured term loan from
Saraswat Co-operative Bank Limited. |
|
|
|
|
** Secured term loan from Indiabulls
Financial Services Ltd. |
|
|
|
|
*** Other payables Comprise : |
|
|
|
|
Statutory liabilities |
2.137 |
2.153 |
1.961 |
|
Capital Creditors |
8.784 |
2.671 |
12.711 |
|
Creditors for other liabilites |
21.315 |
18.636 |
20.778 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
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 |
LITIGATION DETAILS:
|
HIGH
COURT OF BOMBAY
|
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term
Borrowings |
|
|
|
From Others |
1015.926 |
855.676 |
|
|
|
|
|
Total |
1015.926 |
855.676 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10311168 |
08/09/2011 |
160,520,000.00 |
INDIABULLS
HOUSING FINANCE LIMITED |
F-60,
2ND FLOOR, MALHOTRA BUILDING,, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001,
INDIA |
B22937452 |
|
2 |
10174477 |
11/08/2009 |
14,620,000.00 |
INDIABULLS
FINANCIAL SERVICES LIMITED |
F-60
MALHOTRA BLDG2ND FLOOR, CANNAUGHT PALACE, NEW DELHI, DELHI - 110001, INDIA |
A68958271 |
FINANCIAL
PERFORMANCE:
The
Company’s total revenue has increased to Rs.571.090 Millions as against
Rs.481.563 Millions in the previous year at a growth rate of 18.59 per cent.
The Net Profit after Tax amounted to Rs.223.168 Millions as against Rs.188.377
Millions in the previous year, showing a growth of 18.47 per cent. A segment
wise comparative study reveals that, the IT segment has grown by 11.58 per cent
to Rs.321.931 Millions as against Rs.288.531 Millions in the previous year. The
Hospitality segment has grown substantially by 41.72 percent to Rs.228.504
Millions as against Rs.161.233 Millions in the previous year.
The
Company has envisaged hotel projects at various locations across India. The
said projects will add to the total hotel room capacity, substantially adding
to the hospitality income in the years to come.
HIGHLIGHTS
OF THE YEAR
Subject
has been aggressively pursuing its growth plans primarily through expansion in
the Hospitality Sector. In pursuit of the aforesaid goal, Subject, in addition
to its location in United States, New Zealand, Thailand and Namibia, has
floated subsidiary companies in Singapore and Dubai thereby widening its
presence in Hospitality Sector.
Seaview
Homes Company Limited (SHCL), a subsidiary company at Thailand owns Condominium
units in sea facing high rise buildings in Pattaya and Phuket which offers
these units for its hospitality business. SHCL has also booked Condominium
units at Bangkok and is awaiting for possession. SHCL also has few more
acquisitions lined up at Pattaya and Phuket.
Panoramic
Singapore Hospitality Pte. Limited, a wholly owned subsidiary company incorporated
at Singapore, has taken Service Apartments on lease basis for catering to
Hospitality Sector.
During
the year subject has also floated a wholly owned Subsidiary in Dubai, U.A.E.
for marketing services related to Hospitality Sector and for acquiring
properties. The Company also has plans to set up a Representative Office in
Dubai for marketing purpose.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
ECONOMIC
OVERVIEW
Indian
economy has strong fundamentals and is host to several eminent global corporate
giants that are leaders in their respective fields. Indian economy is likely to
grow between 5.5 per cent to 6.0 per cent in 2013-14 on the back of global
challenges and slowdown in investments.
Following
the slowdown induced by the global financial crisis in 2008-09, the Indian
economy responded strongly to fiscal and monetary stimulus and achieved a
growth rate of 8.6 per cent and 9.3 per cent respectively in
2009-10
and 2010-11, but due to a combination of both internal and external factors,
the economy decelerated growing at 6.2 per cent and 5.0 per cent in 2011-12 and
2012-13 respectively.
However,
with widespread reform measures initiated in recent months and the global
economy poised for a moderate recovery in 2013-14, the Indian economy is expected
to witness an improved outlook in 2013-14. Reform process undertaken in the
current year, forms the basis of fiscal policy of the government during
2013-14. Proactive policy decisions, contained government spending to provide
space for private investment, along with reforms to attract capital inflows are
expected to be key drivers of growth revival during 2013-14.
Indian
economy's orientation is changing from a manufacturing and agriculture
dominated to a knowledge based, wherein modern technologies and high
value-added services are significantly contributing to the country's Gross
Domestic Product (GDP). Service sector accounts for about 60 per cent of the
Indian Economy. We now discuss in greater detail the markets and opportunities,
products, operational and financial performance, as well as initiatives in the
key functional areas such as hospitality and information technology. And
conclude the report with a discussion on risks and concerns and the outlook of
the Company for the future.
INDUSTRY
OVERVIEW
HOSPITALITY INDUSTRY
India,
known to world the land of hospitality, is today in the defining stages of
business of hospitality with unlimited tourism and untapped business prospects.
In the coming years Indian hospitality will only see green pastures of growth.
Being one of the top travel and tourism destinations in the world and given the
rich historical value, India makes as an ideal product for multiple levels of
tourism. India's rich cultural heritage and history, food, friendly people, architectural
monuments, hospitality and services are positive strengths for its tourism
sector, which places it ahead of many emerging markets.
Today,
tourism is the most vibrant tertiary sectors and has a strong hold on the
economy. The sector contributes
6.4
per cent to the National GDP and 7.9 per cent of the total employment in India.
The constant transformation has made the Indian hotel industry more functional
and practical and has gained a level of acceptance world over.
The
standards of facilities and services offered have evolved over the last decade
towards the extensive use of technology, environment friendly services,
pricing, market segmentation, regional preferences, etc. The Indian hotel
industry has seen a significant growth in room inventory across categories from
upscale luxury to limited services and boutique & budget hotels. The
occupancy and the room rates have seen continued gains both from the domestic
and the international traveler in both the business and leisure segment.
Moreover,
India stands 42nd in the world rankings in terms of Foreign Tourist Arrivals
(FTAs) in the country, according to a report titled 'Competitiveness of Tourism
Sector in India with selected other Countries of the World' by Ministry of
Tourism. The World Travel and Tourism Council (WTTC) named India as one of the
fastest growing tourism industries for the next 10 to 15 years.
The
performance of the hotels industry is intrinsically knit with economic growth,
hence given the recent slump in the economic performance there was a marginal
dip in the operations of the industry, as is the case with industries that
depend on discretionary spending. Even though the sluggish economy and poor
sentiments, there's good news from the world of travel and tourism, domestic
tourism in India has come of age with better connectivity and is likely to
counter any downfall in the international tourist arrivals. India has emerged
as the world's fastest-growing outbound market and in absolute numbers it is
second only to China.
INFORMATION
TECHNOLOGY INDUSTRY
The
Indian Information Technology (IT) and Information Technology enabled Services
(ITeS) sectors going parallel in every aspect. The industry has not only
transformed India's image on the global platform, but also fuelled economic growth
by energising higher education sector (especially in engineering and computer
science). The industry has employed almost 10 million Indians and hence, has
contributed a lot to social transformation in the country.
Furthermore,
Indian firms, across all other sectors, largely depend on the IT & ITeS
service providers to make their business processes efficient and streamlined.
Indian manufacturing sector has the highest IT spending followed by automotive,
chemicals and consumer products industries.
Industry
body National Association of Software and Services Companies (Nasscom) predicts
that the ITeS industry will bring in around US$ 225 billion by 2020, wherein 80
per cent of the growth would come from the presently untapped sectors and
regions.
The
Indian IT & ITeS industry has continued to perform its role as the most
consistent growth driver for the economy. Service, Software Exports and
Business Process Outsourcing (BPO) remain the mainstay of the sector. Over the
last five years, the IT & ITeS industry has grown at a remarkable pace. A
majority of the Fortune 500 and Global 2000 corporations are sourcing IT/ITeS
from India and it is the premier destination for the global sourcing of IT
& ITeS accounting for 55 per cent of the global market in offshore IT
services and garnering 35 per cent of the ITeS/BPO market.
India's
IT and BPO sector exports are expected to grow by 12-14 per cent in FY14 to
touch US$ 84 billion - US$ 87 billion, according to Nasscom.
OPPORTUNITIES
HOSPITALITY
INDUSTRY
With
the diversity in demographics and culture, India presents itself as a very
unique travel destination. Apart from locations waiting to be furnished by
hotel properties, India, due to its inherent welcoming culture, makes it
somewhat easier to set up shop here. The Indian hospitality industry has a
tremendous pedigree of professionals who are well-educated and ambitious to
achieve great results. It, therefore, is a fantastic starting point as
hospitality is ingrained in them, hence, you must find a way to bring it out.
There
are certain progressive aspects of the Union Budget 2013-14, the thrust on the
worthy themes of social equity, financial inclusion and incentives to boost the
infrastructure sector. The Hon'ble Finance Minister has made a sincere endeavour
to recharge business confidence and revive the investment cycle. The various
initiatives, including innovative policy instruments and institutional
mechanisms which were announced to attract private investment in the country's
core infrastructure are welcome. These incentives would indeed be valuable for
hotels in those geographic locations which are already included in the
Government's Harmonised Master List of
Infrastructure Sub-sectors notified
on 28th March, 2012 and the RBI's Infrastructure
Lending List.
Reforms
for retails, insurance and aviation are giving positive indications for
business scene and help in sustaining the growth momentum of the Indian
economy. This will boost image of India and in turn bring more tourists. Even
airports have been modernized and Air India has been revamped. It has increased
air seat capacity from many overseas Countries.
Ministry
of Tourism’s pro-active ‘Brand Building’ under Incredible India Campaign has
started showing its result.
Even
visa problems are now streamlined and more countries are expected to be
included under visa-on-arrival policy of the Government of India, with active
persuasion of the Ministry of Tourism.
Another
trend that is emerging is the Meetings, Incentives, Conference &
Exhibitions (MICE) & Film Tourism segment that has immense potential and
provides tremendous growth opportunity in India for the sale of several hundred
room nights as opposed to few by the transient travellers.
INFORMATION
TECHNOLOGY INDUSTRY
The
emergence of India as a favoured destination for software development, business
process outsourcing (BPO) and 'Information Technology Enabled Services' (ITeS)
has led to a surge in its contribution to the national 'Gross Domestic Product'
(GDP). Besides, the sector is also among the most significant contributors to
the employment opportunities in the country.
A
large number of factors has been shaping the growth of the Indian technology
sector. Some of the key growth drivers for the sector include:
·
Forward and backward linkages with a
number of sectors including banking and insurance services, manufacturing,
tourism, telecom, retail, etc.
·
steadily increasing purchasing power
·
large pool of skilled manpower having
multi-lingual capabilities
·
cost-effective outsourcing solutions
·
increasing adoption of technology in
the domestic industries
·
emergence of new delivery platforms
·
government initiatives to promote
technology adoption across industries
The
pace of technological advance is accelerating and Information and Communication
Technology (ICT) is increasingly becoming a ubiquitous and intrinsic part of
people’s behaviors and social networks as well as of business practices and
government activities. These transformations will continue to move human
progress forward by further leveraging IT’s positive social, political, and
economic impact on government, enterprise, and civil society.
The
National Policy on IT focuses on application of technology-enabled approaches
to overcome monumental developmental challenges in education, health, skill
development, financial inclusion, employment generation, governance etc. to
greatly enhance efficiency across the board in the economy. The policy seeks to
achieve the twin goals of bringing the full power of ICT within the reach of
the whole of India and harnessing the capability and human resources of the
whole of India to enable India to emerge as the Global Hub and Destination for
IT and ITeS Services by 2020. The focus of the IT policy is therefore on
deployment of ICT in all sectors of the economy and on providing IT solutions
to the world.
The
relationship between technology and hospitality will only grow stronger in the
years ahead. Technology is used almost in every department and function to
increase efficiency and standardise operations. Today, handheld devices having
a display screen with touch input and a miniature keyboard is used for KOT
(kitchen order ticket) generation in restaurants. Besides, direct hotel
reservations, the central reservation systems (CRS) and global distribution systems
(GDS) serve as the primary channels of sales for hotel room nights. The hotels
maintaining huge facility have now shifted their focus from revenue management
to yield management by maximizing occupancy and protecting rates variations to
optimize the RevPAR.
The
growth of the internet has played a key role in truly globalising the sales
efforts as well as the marketing opportunities for the hotel industry. The
advent of third party travel websites such as Hotels.com, Expedia.com and
Travelocity.com as well as a few home grown websites like our Travelhot.in and
Magicholidays.info has also been witnessed in recent years. Additionally,
independent hospitality review and opinion websites like Tripadvisor.com are
also very popular with the travelling population of today. The pressure on
consistent delivery of brand promises is further maintained by online customer
feedback which impacts the attraction quotient of the product for other
prospective customers.
MANAGEMENT
OUTLOOK AND STRATEGY
TOWARDS
SUCCESS
Subject’s
outlook for 2013-14 is optimistic with a focus to further expand its
presence both in terms of geography and the socio-economic segments that
it addresses. It believes that the new properties and services which
it plans to launch during the year will open up newer opportunities and
increase its penetration and reach in the domestic as well international
market.
Subject
is committed to conducting business in a manner that complies with applicable
laws and is perceived to be consistent with the highest ethical standards along
with understanding the risks that may compromise these standards and using all
reasonable efforts to ensure that those who provide services to and for subject
including employees, contractors and agents - are aware of and share our
commitment to the growth of the business in the most efficient and fruitful
way.
Subject
is committed to the spirit of conservation and restoration, and each property
is sensitive to its surroundings in respect of the building, environment and
local community. The vision is to share untouched nature’s destinations with
our clientele and provide a once in a life time experience.
Whilst
every property is unique, being part of the collection ensures that the quality
of the facilities, service and overall experience is consistently of the
highest order and guests can always expect personal, friendly service.
FIXED ASSETS:
·
Land
·
Building
·
Office Premises
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Motor Vehicles
·
Office Equipment’s
·
Air Conditioners
·
Electrical Installations
·
Software
·
Goodwill
·
franchise
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1.
Income from operations |
|
|
|
|
a) Income from IT Business |
84.106 |
91.043 |
260.845 |
|
b) Income from Hospitality Business |
32.719 |
23.094 |
82.471 |
|
c) Other operating income |
18.789 |
20.901 |
57.914 |
|
Total
income from Operations(net) |
35.614 |
135.038 |
401.230 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
7.371 |
5.681 |
19.241 |
|
b) Employees benefit expenses |
23.345 |
23.001 |
69.874 |
|
c) Depreciation and amortization expenses |
8.181 |
7.660 |
23.576 |
|
d) Other expenditure |
26.720 |
23.533 |
688.085 |
|
Total expenses |
65.617 |
59.875 |
180.776 |
|
3. Profit from operations before other income and
financial costs |
69.997 |
75.163 |
220.454 |
|
4. Other income |
3.618 |
7.603 |
40.680 |
|
5. Profit from ordinary activities before finance costs |
73.615 |
82.766 |
261.134 |
|
6. Finance costs |
0.114 |
0.159 |
0.457 |
|
7. Net profit/(loss) from ordinary activities after
finance costs but before exceptional items |
73.501 |
82.607 |
260.677 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
73.501 |
82.607 |
260.677 |
|
10.Tax expenses |
24.743 |
31.065 |
91.407 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
48.758 |
51.542 |
169.270 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
48.758 |
51.542 |
169.270 |
|
14.Paid-up
equity share capital (Nominal value Rs.5/- per share) |
388.725 |
388.725 |
388.725 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share (before extraordinary items)
of Re. 1/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
0.50 |
0.53 |
1.78 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
19903620 |
19903620 |
19903620 |
|
- Percentage of shareholding |
25.60 |
25.60 |
25.60 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
57841380 |
57841380 |
57841380 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
74.40 |
74.40 |
74.40 |
|
B.
Investor Complaints |
Quarter ended 31.12.2013 |
|
Pending at the beginning of the quarter |
0 |
|
Receiving during the quarter |
1 |
|
Disposed of during the quarter |
1 |
|
Remaining unreserved at the end of the quarter |
0 |
UNAUDITED SEGMENT WIE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Nine
Months Ended (
Unaudited) |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1.
Segment Revenue |
|
|
|
|
a. IT Business and Others |
87.724 |
98.646 |
301.525 |
|
b. Hospitality Business |
51.508 |
43.995 |
140.385 |
|
Net
Income from Operations |
139.232 |
142.641 |
441.910 |
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. IT Business and Others |
62.770 |
62.521 |
216.793 |
|
b. Hospitality Business |
10.845 |
20.245 |
44.341 |
|
Total |
73.615 |
82.766 |
261.134 |
|
Less
: (i) Interest |
0.114 |
0.159 |
0.457 |
|
Profit
before Tax |
73.501 |
82.607 |
260.677 |
|
3.
Capital Employed |
|
|
|
|
a. IT Business and Others |
1545.990 |
1448.295 |
1545.990 |
|
b. Hospitality Business |
479.243 |
526.503 |
479.243 |
|
Total |
2025.233 |
1974.798 |
2025.233 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.