MIRA INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARDCASTLE RESTAURANTS PRIVATE LIMITED |
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Registered
Office : |
1001-1002, 10th Floor, Tower 3, Indiabulls Finance Centre, Senapati Bapat
Marg, Mumbai – 400013, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.08.1995 |
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Com. Reg. No.: |
11-091422 |
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Capital
Investment / Paid-up Capital : |
Rs. 1655.000 Millions |
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CIN No.: [Company Identification
No.] |
U55101MH1995PTC091422 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAAFH1333H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
To operate and maintain either directly or indirectly Restaurants, Eating Houses, Kiosks, Fast Food Outlets, Amusement Centres, Cafeterias. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 a subsidiary of Westlife Development Limited It is an established company having moderate track record. The company has incurred some accumulated losses during F.Y. 2014,
Borrowings recorded by the company are huge and increasing. However, trade relations are reported as fair. Business is active.
Payments terms 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.
EXTERNAL AGENCY RATING
Not Available
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 DENIED
Management Non Corporative (91-22-49135019)
LOCATIONS
|
Registered Office : |
1001-1002, 10th Floor, Tower 3, Indiabulls Finance Centre, Senapati
Bapat Marg, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22–49135000 / 49135045 |
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Fax No.: |
91-22–49135001 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Amit Jatia |
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Designation : |
Whole-time Director |
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Address : |
Avanti 67-A, |
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Date of Birth/Age : |
11.02.1967 |
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Date of Appointment : |
26.09.2011 |
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DIN No.: |
00016871 |
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PAN No.: |
AAEPJ8462D |
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Name : |
Mr. Banwari Lal Jatia |
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Designation : |
Director |
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Address : |
Avanti 67-A, |
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Date of Birth/Age : |
08.12.1943 |
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Date of Appointment : |
07.08.1995 |
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DIN No.: |
00016823 |
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Voter ID No.: |
MT 04/ 024/ 240817 |
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Name : |
Mrs. Smita Jatia |
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Designation : |
Whole-Time Director |
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Date of Birth/Age : |
20.05.1970 |
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Date of Appointment : |
26.09.2011 |
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DIN No.: |
03165703 |
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PAN No.: |
ADDPJ8102C |
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Name : |
Mr. Om Prakash Adukia |
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Designation : |
Director |
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Address : |
701, Avarsekar Heights, Dr. Annie Besant Road, Mumbai – 400018, Maharashtra, India |
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Date of Birth/Age : |
21.04.1937 |
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Date of Appointment : |
26.12.2012 |
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DIN No.: |
00017001 |
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Name : |
Mr. Padmanabh Ramchandra Barpande |
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Designation : |
Director |
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Address : |
Saubhagya Society, Block 51, A-Wing Andheri (East), Mumbai – 400069, Maharashtra, India |
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Date of Birth/Age : |
29.11.1947 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
00016214 |
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Name : |
Mr. Ajay Kumar Gupta |
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Designation : |
Director |
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Address : |
603, Badrinath Tower, Seven Bungalows, Mumbai – 400061, Maharashtra, India |
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Date of Birth/Age : |
31.07.1969 |
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Date of Appointment : |
26.12.2012 |
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DIN No.: |
00196210 |
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Name : |
Mr. Ranjit Ravindranathan Paliath |
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Designation : |
Whole-time Director |
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Address : |
B /108, Nirman Aparts, Rajemata Jijabai Rao Pump House, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Date of Birth/Age : |
08.07.1966 |
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Date of Appointment : |
07.02.2014 |
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DIN No. : |
06805256 |
KEY EXECUTIVES
|
Name : |
Mrs. Radha Jain |
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Designation : |
Secretary |
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Address : |
A – 401, DSK Harita CHS Limited, Near Cambridge School, Thakur Complex
Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
14.07.1976 |
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Date of Appointment : |
08.11.2013 |
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PAN No.: |
AHEPJ3095K |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Westlife Development Limited, India |
|
309996 |
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Amit Jatia JT. Westlife Development Limited, India |
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1 |
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Banwari Lal Jatia Jt. Westlife development Limited, India |
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1 |
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Smita Jatia Jt. Westlife development Limited, India |
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1 |
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Ushadevi Jatia Jt. Westlife development Limited, India |
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1 |
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Total |
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310000 |
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Names of Shareholders (Preferences Shares) |
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No. of Shares |
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Westlife Development Limited, India |
|
1345000 |
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Total |
|
1345000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
To operate and maintain either directly or indirectly Restaurants, Eating Houses, Kiosks, Fast Food Outlets, Amusement Centres, Cafeterias. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
14th 15th and 16th Floor, The Ruby, 29, Senapati Bapat
Marg, Dadar (West), Mumbai – 400028, Maharashtra, India. |
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PAN No.: |
AURPK5312N |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Holding company: |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
315000 |
Equity Shares |
Rs.1000/- each |
Rs. 315.000 Millions |
|
1355000 |
|
Rs.1000/- each |
Rs. 1355.000 Millions |
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|
Total |
|
Rs. 1670.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000 |
Equity Shares |
Rs.1000/- each |
Rs. 310.000 Millions |
|
1345000 |
|
Rs.1000/- each |
Rs. 1345.000 Millions |
|
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Total |
|
Rs. 1655.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
1655.000 |
1235.000 |
1235.000 |
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(b) Reserves &
Surplus |
(689.890) |
(697.310) |
(1004.920) |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
965.110 |
537.690 |
230.080 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
4237.920 |
2795.500 |
2375.000 |
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(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.200 |
3.170 |
2.720 |
|
(d) long-term provisions |
0.000 |
4.210 |
8.390 |
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Total Non-current
Liabilities (3) |
4240.120 |
2802.880 |
2386.110 |
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(4) Current Liabilities |
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(a) Short term borrowings |
465.540 |
156.530 |
0.000 |
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(b) Trade payables |
589.110 |
569.440 |
363.800 |
|
(c) Other current
liabilities |
550.160 |
529.190 |
333.880 |
|
(d) Short-term provisions |
47.990 |
36.700 |
26.110 |
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Total Current Liabilities
(4) |
1652.800 |
1291.860 |
723.790 |
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TOTAL |
6858.030 |
4632.430 |
3339.980 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
3424.500 |
2733.440 |
1849.150 |
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(ii) Intangible Assets |
347.600 |
289.180 |
226.520 |
|
(iii) Capital
work-in-progress |
176.770 |
394.980 |
196.050 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
200.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
708.420 |
587.540 |
387.020 |
|
(e) Other Non-current
assets |
0.960 |
0.080 |
0.710 |
|
Total Non-Current Assets |
4858.250 |
4005.220 |
2659.450 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
1344.090 |
5.000 |
35.000 |
|
(b) Inventories |
199.470 |
177.330 |
150.310 |
|
(c) Trade receivables |
64.590 |
82.770 |
43.150 |
|
(d) Cash and cash
equivalents |
120.820 |
125.160 |
302.760 |
|
(e) Short-term loans and
advances |
102.370 |
98.780 |
70.460 |
|
(f) Other current assets |
168.440 |
138.170 |
78.850 |
|
Total Current Assets |
1999.780 |
627.210 |
680.530 |
|
|
|
|
|
|
TOTAL |
6858.030 |
4632.430 |
3339.980 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
7383.920 |
6810.340 |
5444.600 |
|
|
Other Income |
44.370 |
48.070 |
40.220 |
|
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TOTAL |
7428.290 |
6858.410 |
5484.820 |
|
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Less |
EXPENSES |
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Purchases of
Stock-in-Trade |
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
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Employees benefits expense |
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Other expenses |
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|
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TOTAL |
6938.170 |
6231.350 |
4812.440 |
|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
490.120 |
627.060 |
672.380 |
|
|
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|
|
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|
Less |
DEPRECIATION / FINANCIAL
EXPENSES |
482.700 |
319.450 |
246.580 |
|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
7.420 |
307.610 |
425.080 |
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Less |
TAX (I) |
0.000 |
0.000 |
0.000 |
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PROFIT/ (LOSS) AFTER TAX |
7.420 |
307.610 |
425.080 |
|
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Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(697.310) |
(1004.920) |
(1430.000) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(689.890) |
(697.310) |
(1004.920) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
4.48 |
185.87 |
256.85 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
0.10 |
4.52 |
7.81 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
6.64 |
9.21 |
12.35 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.11 |
7.26 |
13.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.57 |
1.85 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.87 |
5.49 |
10.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
0.49 |
0.94 |
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 |
1235.000 |
1235.000 |
1655.000 |
|
Reserves & Surplus |
(1004.920) |
(697.310) |
(689.890) |
|
Net worth |
230.080 |
537.690 |
965.110 |
|
|
|
|
|
|
long-term borrowings |
2375.000 |
2795.500 |
4237.920 |
|
Short term borrowings |
0.000 |
156.530 |
465.540 |
|
Total borrowings |
2375.000 |
2952.030 |
4703.460 |
|
Debt/Equity ratio |
10.322 |
5.490 |
4.873 |
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 |
5444.600 |
6810.340 |
7383.920 |
|
|
|
25.084 |
8.422 |
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 |
5444.600 |
6810.340 |
7383.920 |
|
Profit |
425.080 |
307.610 |
7.420 |
|
|
7.81% |
4.52% |
0.10% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current maturities of long-term debt |
58.330 |
0.000 |
0.000 |
|
Total |
58.330
|
0.000 |
0.000 |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
Note:
The Registered office of the company has been shifted ASM House, Ground
Floor 7th Golibar Road, Santacruz (East), Mumbai – 400055,
Maharashtra, India to the present address w.e.f. 24.04.2012
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
4125.000 |
2795.500 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
90.140 |
0.00 |
|
Intercorporate deposits |
50.180 |
50.000 |
|
Total |
4265.320 |
2845.500 |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10534803 |
14/10/2014 |
750,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C35904721 |
|
2 |
10470000 |
13/11/2013 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B93440030 |
|
3 |
10434254 |
26/05/2013 |
250,000,000.00 |
CITIBANK N. A. |
First International
Financial Centre, 9th Floor, Plot No. C-54, C-55, G-Block, BKC, Bandra
East, |
B78475068 |
|
4 |
10388682 |
03/10/2012 |
250,000,000.00 |
Citibank N.A |
TRENT HOUSE, 2ND
FLOOR, G BLOCK, PLOT NO.C60, BAN |
B62846159 |
|
5 |
10375677 |
07/05/2013 * |
200,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A -WING, GROUND FLOOR, 210 NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B75707018 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Other building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
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. 61.87 |
|
|
1 |
Rs. 96.90 |
|
Euro |
1 |
Rs. 76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.