MIRA
INFORM REPORT
|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
CAPACIT'E INFRAPROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
605-607,
Shrikant Chambers, Phase-I, 6th Floor, Adjacent to R. K. Studios, Sion
Trombay Road, Chembur, Mumbai - 400071, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.08.2012 |
|
|
|
|
Com. Reg. No.: |
11-234318 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400MH2012PTC234318 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC19252C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECC9463G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Construction And
Infrastructure Developer |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 348000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having satisfactory track record. Company has achieved decent sales turnover in period of 8 months. Rating reflects extensive track record of promoters in construction industry
and strong operational, managerial and financial support from Pratibha Pipes
and Structural Limited. However, trade relations are reported to be improving. Business is
active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: Financials are
from period 9th August 2012 to 31st March 2013. |
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB- |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
July 29, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3 |
|
Rating Explanation |
Moderate degree of safety and very high
credit risk. |
|
Date |
July 29, 2013 |
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 DECLINED BY
|
Name : |
Ms. Manasi Nisal |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-42179999 |
|
Date : |
13.02.2014 |
LOCATIONS
|
Registered Office : |
605-607,
Shrikant Chambers, Phase-I, 6th Floor, Adjacent to R. K. Studios, Sion Trombay
Road, Chembur, Mumbai - 400071, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
|
|
Head Office : |
603, Shrikant Chambers, Phase-I, 6th Floor, Adjacent to R.
K. Studios, Sion Trombay Road, Chembur, Mumbai - 400071, Maharashtra |
|
Tel. No.: |
91-22-42179999 |
|
Fax No.: |
91-22-42179900 |
|
|
|
|
Delhi Office : |
529, 530, 531 5th Floor, Star Tower, Opposite 32nd Mile
Stone N.H-8, Gurgaon, Haryana, India |
|
Tel. No.: |
91-124-4060470-71 |
DIRECTORS
AS ON 23.07.2013
|
Name : |
Mr. Rahul Ramnath Katyal |
|
Designation : |
Managing director |
|
Address : |
B-4, Zareena Park CHS, Opposite Barc Main Gate, Mavin Gali, Anushakti
Nagar, Mankhurd, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1971 |
|
Date of Appointment : |
09.08.2012 |
|
PAN No.: |
ASYPK4505E |
|
DIN No.: |
00253046 |
|
|
|
|
Name : |
Rupen Pravin Patel |
|
Designation : |
Director |
|
Address : |
A.K. Patel Bunglow, 5-D, Dadabhai Road, Santacruz (West), Mumbai –
400054, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1966 |
|
Date of Appointment : |
06.11.2012 |
|
DIN No.: |
00029583 |
|
|
|
|
Name : |
Mr. Pravin Harkishan Malkani |
|
Designation : |
Director |
|
Address : |
Bindiya, Gandhi Gram Road, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
04.07.1968 |
|
Date of Appointment : |
06.11.2012 |
|
DIN No.: |
00486803 |
|
|
|
|
Name : |
Mr. Vijaykumar Agarwal |
|
Designation : |
Director |
|
Address : |
R No. 8/7, Jai Shreedhan CHS, Bangur Nagar, Goregaon (West), Mumbai –
400099, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1971 |
|
Date of Appointment : |
06.11.2012 |
|
DIN No.: |
00655981 |
|
|
|
|
Name : |
Subir Malhotra |
|
Designation : |
Director |
|
Address : |
1506/B-1, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
11.10.1965 |
|
Date of Appointment : |
09.08.2012 |
|
DIN No.: |
05190208 |
KEY EXECUTIVES
|
Name : |
Ms. Manasi Nisal |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.07.2013
|
Names of Shareholders |
No. of Shares |
% of Shares Held
|
|
Patel Realty (India) Limited, India |
1530000 |
51.00 |
|
Renu Katyal |
720000 |
24.00 |
|
Rahul Katyal |
750000 |
25.00 |
|
|
|
|
|
Total |
3000000 |
100.00 |
AS ON 23.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
51.00 |
|
Directors
or relatives of directors |
49.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction And Infrastructure
Developer |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Corporation Bank Corporate Banking Branch, 104, Bharat House, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India ·
Indusind Bank |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Jayesh Sanghrajka And Company Chartered Accountants |
|
Address : |
405, 406, 407 And 408, Hind Rajasthan Centre, 4th Floor,
Dadasaheb Phalke Road, Dadar (Central Railway), Mumbai – 400014, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFJ9072C |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Pratibha Pipes And Structural Limited [U29110MH1996PLC099745] MAS Design Asutosh Trade Links |
|
|
|
|
Subsidiary company
: |
· Capacit'e Engineering Private Limited Nirmal Capacite Construction Private Limited |
|
|
|
|
Holding company |
Patel Realty (India) Limited [U70200MH2007PLC167118] |
CAPITAL STRUCTURE
AS ON 23.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
09.08.2012
to 31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
30.000 |
|
(b) Reserves & Surplus |
|
|
57.025 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
87.025 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
22.313 |
|
(b) Deferred tax liabilities (Net) |
|
|
1.504 |
|
(c) Other long
term liabilities |
|
|
50.250 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
74.067 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
56.518 |
|
(b)
Trade payables |
|
|
51.665 |
|
(c)
Other current liabilities |
|
|
128.526 |
|
(d) Short-term
provisions |
|
|
0.831 |
|
Total Current
Liabilities (4) |
|
|
237.540 |
|
|
|
|
|
|
TOTAL |
|
|
398.632 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
56.772 |
|
(ii) Intangible
Assets |
|
|
0.966 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
13.740 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7.946 |
|
(e) Other
Non-current assets |
|
|
18.620 |
|
Total Non-Current
Assets |
|
|
98.044 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
24.809 |
|
(c)
Trade receivables |
|
|
41.763 |
|
(d) Cash
and cash equivalents |
|
|
166.698 |
|
(e)
Short-term loans and advances |
|
|
58.813 |
|
(f)
Other current assets |
|
|
8.505 |
|
Total
Current Assets |
|
|
300.588 |
|
|
|
|
|
|
TOTAL |
|
|
398.632 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
09.08.2012
to 31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
73.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
68.303 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
5.297 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
4.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
2.335 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
2.025 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
2.025 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.68 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
09.08.2012
to 31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
2.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.27 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
Current maturities of long-term debt |
4.139 |
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last
one year |
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 |
Yes |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
Loans and advances from related parties |
3.000 |
|
|
|
|
Total |
3.000 |
GENERAL INFORMATION
Subject is a private
Company domiciled in India and incorporated under the provisions of Companies
Act 1956. The Company is primarily engaged in the business of construction and
infrastructure development.
FIXED ASSETS:
· Plant and equipment
Furniture
and fixtures
Office
equipment
Computer
equipments
Other
equipments
Computer
software
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. 62.27 |
|
|
1 |
Rs. 103.47 |
|
Euro |
1 |
Rs. 84.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.