MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARIHANT SUPERSTRUCTURES LIMITED |
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Registered
Office : |
302, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.03.1983 |
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Com. Reg. No.: |
11-029643 |
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Capital
Investment / Paid-up Capital : |
Rs. 411.600
Millions |
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|
|
CIN No.: [Company Identification
No.] |
L51900MH1983PLC029643 |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged primarily in the business of Real Estate
Development, Trading in Real Estate and Construction Contracts. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2600000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track record. Sales turnover of
the company has declined which resulting into dip in profit of the company
during financial year 2014. A reserve of the company is low. However, trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can
be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes that many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-41113333]
LOCATIONS
|
Registered Office : |
302, Persipolis
Building, Plot No.74, Sector-17, Vashi, Navi Mumbai – 400 703, Maharashtra,
India |
|
Tel. No.: |
91-22-41113333 |
|
Fax No.: |
91-22-27882946 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Ashok B. Chhajer |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
11.09.1969 |
|
Qualification : |
B.Sc. |
|
Expertise : |
Real Estate Business |
|
Date of Appointment : |
15.01.2009 |
|
Directorship in
other Companies : |
· Arihant Dream House Private Limited Arihant Universal Realty Private Limited Adinath Realty Private Limited Adeshwar Realty Private Limited Abhinandan Agrofarms Private Limited Arihant Paradise Realty Private Limited Arihant Vatika Realty Private Limited Arihant Abode Limited Arihant Gruhnirman Private Limited Arihant Technoinfra Private Limited Arihant Aashiyana Private Limited Arihant Anandi Realty Private Limited Arihant Dwellcons Private Limited |
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|
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|
Name : |
Mr. Dinkar P. Samant |
|
Designation : |
Whole Time Executive Director |
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|
Name : |
Mr. Nimish S. Shah |
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Designation : |
Whole Time Director |
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|
|
Name : |
Mr. Dinesh Chandra Babel |
|
Designation : |
Independent Director |
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Date of Birth/Age : |
23.07.1943 |
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Qualification : |
Chartered Accountant and Bachelor of Law |
|
Expertise : |
Enriched
experience in the field of Management Finance, Taxation, Audit and Costing |
|
Date of Appointment : |
23.04.2010 |
|
Directorship in
other Companies : |
· Capri Global Capital Limited Kusam Electrical Industries Limited |
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|
|
|
|
|
|
Name : |
Mr. Vinayak V. Nalavde |
|
Designation : |
Independent Director |
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Date of Birth/Age : |
14.07.1943 |
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Qualification : |
Graduate of Commerce (B.Com) and passed the intermediate level of
ICWA. |
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Expertise : |
Finance, Accounts and Administration |
|
Date of Appointment : |
11.02.2012 |
|
|
|
|
Name : |
Mr. Virendra Mital |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Naveen Ranka |
|
Designation : |
Compliance Officer |
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|
|
|
Audit Committee : |
Mr. Dinesh Babel (Chairman/Member) Mr. Vinayak Nalavde (Member) Mr. Virendra Mital (Member) Mr. Dinkar Samant (Member) |
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Shareholders
Grievance Committee : |
Mr. Virendra Mital (Chairman/Member) Mr. Vinayak Nalavde (Member) Mr. Dinesh Babel (Member) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of
Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
8230162 |
20.00 |
|
|
22187306 |
53.91 |
|
|
22187306 |
53.91 |
|
|
30417468 |
73.90 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
30417468 |
73.90 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
872796 |
2.12 |
|
|
|
|
|
|
291223 |
0.71 |
|
|
9572951 |
23.26 |
|
|
5553 |
0.01 |
|
|
5400 |
0.01 |
|
|
153 |
0.00 |
|
|
10742523 |
26.10 |
|
Total Public shareholding (B) |
10742523 |
26.10 |
|
Total (A)+(B) |
41159991 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
41159991 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Directors/Promoters & their Relatives
& Friends
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in the business of Real Estate
Development, Trading in Real Estate and Construction Contracts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· The Federal Bank Limited Ranveer
Bhanwan, 9th Chopasani Road, Jodhpur – 342001, Rajasthan, India ICICI Bank Limited Landmark Race
Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
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Facilities : |
LONG TERM
BORROWINGS Term Loan from
Banks Term loan from ICICI
Bank is secured against land (with all the buildings and structures thereon)
at admeasuring about 3949.41 sq.mts. Bearing plot no. 4, sector 24, Village
Taloja, Taluka Panvel, District Thane; Term loan from HDFC Bank is secured
against land bearing (i) Survey No. 27, Hissa No. 2A/1 (ii) Survey No.27
Hissa No.2A/2 (iii) Survey No. 27 Hissa No. 2A/3 (iv) Survey No.25 Hissa No.2
being at Village Koproli, Taluka Panvel, District Raigad together with
construction thereon present and future. Loan from financial
institutions are secured against Vehicles. Bank Overdraft
from banks is secured against Fixed Deposits. Bank Overdraft is repayable on
Maturity of Fixed Deposits. |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
Kailash Chand Jain and Company Chartered Accountants |
|
Address : |
“Edena”, 1st Floor, 97, Maharshi Karve Road, Near Income
Tax Office, Mumbai - 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22009131/ 22065373 |
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Fax No.: |
91-22-22089978 |
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E-Mail : |
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|
Subsidiary Companies : [As on 31.03.2013] |
· Arihant Abode Limited Arihant Gruhnirman Private Limited Arihant Vatika Realty Private Limited Arihant Technoinfra Private Limited Arihant Aashiyana Private Limited |
|
|
|
|
Wholly Owned Subsidiary Company : [As on 31.03.2013] |
Adeshwar Realty
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
15000000 |
Preference
Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
Total |
|
Rs. 750.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41159991 |
Equity Shares |
Rs.10/- each
|
Rs. 411.600
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
411.600 |
411.600 |
274.400 |
|
(b) Reserves & Surplus |
245.830 |
229.928 |
162.971 |
|
(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) |
657.430 |
641.528 |
437.371 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
196.687 |
501.828 |
2.865 |
|
(b) Deferred tax liabilities (Net) |
1.583 |
1.010 |
0.456 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.711 |
0.100 |
|
Total Non-current Liabilities (3) |
198.270 |
503.549 |
3.421 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
211.320 |
142.217 |
378.276 |
|
(b) Trade payables |
38.244 |
32.400 |
22.803 |
|
(c) Other current
liabilities |
526.621 |
407.633 |
339.965 |
|
(d) Short-term provisions |
48.301 |
105.858 |
83.019 |
|
Total Current Liabilities (4) |
824.486 |
688.108 |
824.063 |
|
|
|
|
|
|
TOTAL |
1680.186 |
1833.185 |
1264.855 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25.727 |
24.619 |
22.265 |
|
(ii) Intangible Assets |
0.000 |
1.778 |
1.740 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.701 |
0.711 |
0.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.130 |
704.669 |
344.086 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
68.558 |
731.777 |
368.631 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.670 |
0.660 |
20.298 |
|
(b) Inventories |
800.350 |
607.741 |
373.840 |
|
(c) Trade receivables |
18.786 |
78.405 |
70.317 |
|
(d) Cash and cash
equivalents |
16.547 |
13.734 |
131.322 |
|
(e) Short-term loans and
advances |
518.141 |
199.444 |
86.119 |
|
(f) Other current assets |
257.134 |
201.424 |
214.328 |
|
Total Current Assets |
1611.628 |
1101.408 |
896.224 |
|
|
|
|
|
|
TOTAL |
1680.186 |
1833.185 |
1264.855 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
483.633 |
697.012 |
645.409 |
|
|
|
Other Income |
79.793 |
87.402 |
42.937 |
|
|
|
TOTAL (A) |
563.426 |
784.414 |
688.346 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
construction, land and development expenses |
559.689 |
727.960 |
634.247 |
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
47.940 |
4.500 |
|
|
|
Changes in
inventories of finished goods, incomplete projects (WIP) and Stock-in-Trade |
(192.609) |
(233.901) |
(196.602) |
|
|
|
Employee
benefits expense |
29.120 |
25.423 |
16.717 |
|
|
|
Other expenses |
47.066 |
54.415 |
59.903 |
|
|
|
TOTAL (B) |
443.266 |
621.837 |
518.765 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
120.160 |
162.577 |
169.581 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
74.615 |
86.705 |
48.459 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.545 |
75.872 |
121.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.514 |
3.325 |
2.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
42.031 |
72.547 |
118.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.077 |
23.462 |
38.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
27.954 |
49.085 |
80.043 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.68 |
1.21 |
2.92 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2014 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
75.700 |
|
Total Expenditure |
|
|
66.100 |
|
PBIDT (Excl OI) |
|
|
9.600 |
|
Other Income |
|
|
17.000 |
|
Operating Profit |
|
|
26.500 |
|
Interest |
|
|
14.200 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
12.300 |
|
Depreciation |
|
|
1.300 |
|
Profit Before Tax |
|
|
11.000 |
|
Tax |
|
|
3.600 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
7.500 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
7.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.96 |
6.26 |
11.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.69 |
10.41 |
18.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.52 |
3.96 |
9.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.11 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62 |
1.00 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95 |
1.60 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
274.400 |
411.600 |
411.600 |
|
Reserves & Surplus |
162.971 |
229.928 |
245.830 |
|
Net
worth |
437.371 |
641.528 |
657.430 |
|
|
|
|
|
|
long-term borrowings |
2.865 |
501.828 |
196.687 |
|
Short term borrowings |
378.276 |
142.217 |
211.320 |
|
Total
borrowings |
381.141 |
644.045 |
408.007 |
|
Debt/Equity ratio |
0.871 |
1.004 |
0.621 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
645.409 |
697.012 |
483.633 |
|
|
|
7.995 |
(30.613) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
645.409 |
697.012 |
483.633 |
|
Profit |
80.043 |
49.085 |
27.954 |
|
|
12.40% |
7.04% |
5.78% |
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 |
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 |
-- |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
UNSECURED LOAN |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
From Directors |
125.000 |
|
From Body Corporates |
78.000 |
|
SHORT TERM
BORROWINGS |
|
|
From Directors |
123.556 |
|
From Body Corporates |
18.661 |
|
|
|
|
Total |
345.217 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10468678 |
05/12/2013 |
200,000,000.00 |
THE FEDERAL BANK LIMITED |
51 APSARA APARTMENTS, SECTOR-17, VASHI, NAVI MUMBAI, MAHARASHTRA - 683101, INDIA |
B92926005 |
|
2 |
10380250 |
11/10/2012 * |
150,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B60556354 |
|
3 |
10275159 |
04/03/2011 |
1,800,000.00 |
THE FEDERAL BANK LIMITED |
RANVEER BHANWAN, 9TH CHOPASANI ROAD, JODHPUR, RAJASTHAN - 342001, INDIA |
B08958662 |
|
4 |
10261869 |
31/12/2010 |
250,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
B03415825 |
* Date of charge modification
CORPORATE
INFORMATION:
The company is a public
company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The company is engaged primarily in the business of Real
Estate Development, Trading in Real Estate and Construction Contracts. The
operations of the Company span in all aspects of real estate development, from
the identification and acquisition of land, planning, execution, construction
and marketing of projects.
FIXED ASSETS:
Tangible Assets
·
Computer and Spare Parts
·
Office Equipments
·
Plant and Machinery
·
Vehicle
·
Furniture and Fixtures
·
Shop
Intangible Assets
·
Computer Software
·
Trade Mark
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.47 |
|
|
1 |
Rs. 100.15 |
|
Euro |
1 |
Rs. 79.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.