MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
XRBIA DEVELOPERS LIMITED (w.e.f. 21.06.2012) |
|
|
|
|
Formerly Known
As : |
EIFFEL DEVELOPERS AND REALTORS
LIMITED (w.e.f. 18.12.2007) EIFFEL DEVELOPERS AND REALTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 125/126, Patil Plaza, Mitramandal Chowk,
Parvati, Pune – 411009, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.09.2004 |
|
|
|
|
Com. Reg. No.: |
11-019772 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 197.468 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209PN2004PLC019772 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE5318F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Developers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per the financial (2012), General position of the company seems to
be good. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealing 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
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.
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. Manisha Mantri |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-66858888 |
|
Date : |
17.02.2014 |
LOCATIONS
|
Registered Office : |
Office No. 125/126, Patil Plaza, Mitramandal Chowk,
Parvati, Pune – 411009, Maharashtra, India |
|
Tel. No.: |
91-20-66858888 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Shekhar Dattatray Savlekar |
|
Designation : |
Director |
|
Address : |
Kamathenagar, Vagh Vasti Somji Basastep Javal,Kondhava Bu., Pune – 411048, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1969 |
|
Date of Appointment : |
12.12.2009 |
|
DIN No.: |
02876472 |
|
|
|
|
Name : |
Mr. Dilip Ramkrishna Khapre |
|
Designation : |
Whole-Time Director |
|
Address : |
A-13, Viola, Near Cipla Foundation, Warje, Pune – 411058, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1950 |
|
Date of Appointment : |
17.08.2010 |
|
DIN No.: |
03089192 |
|
|
|
|
Name : |
Mr. Sunilkumar Ashok Oza |
|
Designation : |
Director |
|
Address : |
83/16, Sandhya Society Jainath, Sahakarnagar Sarang Parvati, Pune – 411009, Maharashtra, India |
|
Date of Birth/Age : |
22.07.1985 |
|
Date of Appointment : |
17.08.2010 |
|
DIN No.: |
03113322 |
KEY EXECUTIVES
|
Name : |
Ms. Manisha Mantri |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Rasiklal Nahar |
|
13345798 |
|
Vishal Rasiklal Nahar |
|
4669200 |
|
Lily Floriculture Private Limited |
|
720000 |
|
Eden Landmarks Private Limited |
|
720000 |
|
Vijay Motilal Bhansali |
|
1 |
|
Shirish Vishnu Mulekar |
|
291825 |
|
Shrenik Vinaykumar Balai |
|
1 |
|
Total |
|
19746825 |
As on 28.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
7.29 |
|
Other top fifty shareholders |
92.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers. |
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|
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
· State Bank of India Commercial Branch, 1548/A Off Tilak Road, Sadashiv Peth, Pune - 411030, Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
· L & T Finance Limited, L&T House, Ballard Estate, Mumbai - 400001, Maharashtra, India ·
Tata Capital Limited, One Forbes, Dr. V B Gandhi
Marg, Fort, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Vipin Gujarathi and Company Chartered Accountants |
|
Address : |
Poonam Plaza, Office No 403/404/405, S No 6 9 4 / 2 B ,
Gulteakadi, Pune – 411037, Maharashtra, India
|
|
PAN No.: |
AAFFV6653B |
|
|
|
|
Enterprises owned
and/or significantly influenced by key management personnel |
· Eiffel Properties Private Limited · Eiffel Homes Private Limited · Eiffel Promoters Private Limited · Eiffel Lifespaces Private Limited · Eiffel Realty Private Limited · Eiffel Exim Private Limited · Lily Floriculture Private Limited · Xrbia Hinjewadi Developers Private Limited (Formerly known as Hinjewadi Realty Private Limited) · Riddhi Siddhi Valley View · Eden Landmarks Private Limited · Eiffel Builders Private Limited · Eiffel Hills & Dales Developers Private Limited · Eiffel Landmarks Private Limited · Jerbera Floriculture Private Limited · Kasara Golf Course & Resorts Private Limited · Nahar Brothers & Realtors Private Limited · Nahar Homes LLP · Pinkrose Realty Private Limited · Nahar Rasiklal · Nahar Rekha · Rahul Nahar · Vishal Nahar · Sanmati Nahar · Archana Nahar · Sunil Oza · Dilip Khapre · Shekhar Savlekar · Nahar Riddhi Siddhi Developers (Prop: Rahul Nahar) · Eiffel Capital |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19746825 |
Equity Shares |
Rs.10/- each |
Rs.197.468 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
197.468 |
197.468 |
|
(b) Reserves & Surplus |
|
508.323 |
980.859 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
705.791 |
1178.327 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
404.057 |
448.065 |
|
(b) Deferred tax liabilities (Net) |
|
4.879 |
5.925 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
408.936 |
453.990 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
260.888 |
0.000 |
|
(b) Trade payables |
|
144.115 |
541.633 |
|
(c) Other current
liabilities |
|
1677.307 |
822.278 |
|
(d) Short-term provisions |
|
71.175 |
13.341 |
|
Total Current Liabilities (4) |
|
2153.485 |
1377.252 |
|
|
|
|
|
|
TOTAL |
|
3268.212 |
3009.569 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
197.090 |
1099.910 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
267.621 |
115.331 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
464.711 |
1215.241 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1478.758 |
1057.492 |
|
(c) Trade receivables |
|
21.543 |
0.001 |
|
(d) Cash and cash
equivalents |
|
277.668 |
246.816 |
|
(e) Short-term loans and
advances |
|
1,022.774 |
489.202 |
|
(f) Other current assets |
|
2.758 |
0.817 |
|
Total Current Assets |
|
2803.501 |
1794.328 |
|
|
|
|
|
|
TOTAL |
|
3268.212 |
3009.569 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
194.550 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
950.082 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1144.632 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
145.340 |
|
|
2] Unsecured Loans |
|
|
427.465 |
|
|
TOTAL BORROWING |
|
|
572.805 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.779 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1723.216 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1086.286 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
140.874 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
805.903 |
|
|
Sundry Debtors |
|
|
36.563 |
|
|
Cash & Bank Balances |
|
|
164.017 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
503.890 |
|
Total
Current Assets |
|
|
1510.373 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
232.306 |
|
|
Other Current Liabilities |
|
|
770.027 |
|
|
Provisions |
|
|
19.833 |
|
Total
Current Liabilities |
|
|
1022.166 |
|
|
Net Current Assets |
|
|
488.207 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
7.849 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1723.216 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
494.889 |
386.835 |
322.045 |
|
|
|
Other Income |
262.903 |
11.716 |
15.026 |
|
|
|
TOTAL (A) |
757.792 |
398.551 |
337.071 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
319.053 |
|
|
|
|
|
Employees benefits expense |
42.399 |
37.628 |
268.918 |
|
|
|
Other expenses |
66.543 |
76.377 |
|
|
|
|
TOTAL (B) |
427.995 |
326.186 |
268.918 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
329.797 |
72.365 |
68.153 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.768 |
11.615 |
9.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
325.029 |
60.750 |
58.724 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.458 |
6.986 |
7.685 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
319.571 |
53.764 |
51.039 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
68.954 |
20.046 |
21.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
250.617 |
33.718 |
29.164 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.69 |
1.72 |
1.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
33.07 |
8.46 |
8.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
64.57 |
13.90 |
15.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.65 |
1.86 |
2.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
261.46 |
0.38 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.30 |
1.48 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
197.468 |
197.468 |
|
Reserves & Surplus |
980.859 |
508.323 |
|
Net
worth |
1,178.327 |
705.791 |
|
|
|
|
|
long-term borrowings |
448.065 |
404.057 |
|
Short term borrowings |
0.000 |
260.888 |
|
Total
borrowings |
448.065 |
664.945 |
|
Debt/Equity
ratio |
0.380 |
0.942 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
322.045 |
386.835 |
494.889 |
|
|
|
20.118 |
27.933 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
322.045 |
386.835 |
494.889 |
|
Profit |
29.164 |
33.718 |
250.617 |
|
|
9.06% |
8.72% |
50.64% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
|
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 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 |
No |
|
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 |
FINANCIAL RESULTS:
During the financial year the company has achieved a total income of Rs.757.792 Millions which is 1.9 times of the total income of the previous year. Also the company has reported net profit after tax of Rs.250.617 Millions which is 7.48 times of the profit after tax of the previous year. The Earning per Share (EPS) of the company has been increased from Rs.1.72/- to Rs.12.69/- as compared to previous year the company was shown anagreeable growth in its profitability as well as its turnover in the current year.
Considering the positive signs of recovery in the current year in the overall economy and in the real estate market, it is expected that the company would be able to achieve higher turnover and profitability in the years to come. The company is also planning to adopt various strategies and plans which would be advantageous and in the best interest of the company.
The Management is also hopeful to yield maximum profitability in the coming financial years as the company is in the process of undertaking various measures to cut the cost and increase the efficiency so as to achieve economies of scale and thereby achieving more revenues in the coming years.
The company and the directors are continuously looking for avenues for future growth of the Company and are evaluating various areas where the investment in properties can fetch good returns for the company.
REVIEW OF OPERATIONS
AND FUTURE OUTLOOK:
Considering the positive market trend in the real estate and construction sector, and the new projects in hand the directors are hopeful that the company will achieve satisfactory turnover and profitability in the upcoming years.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Loans and advances from directors |
0.073 |
46.073 |
|
Loans and advances from others |
362.042 |
401.992 |
|
Total |
362.115 |
448.065 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10446513 |
19/08/2013 |
118,300,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B83758839 |
|
2 |
10433123 |
15/06/2013 * |
850,000,000.00 |
STATE BANK OF INDIA COMMERCIAL BRANCH |
1548/A OFF TILAK ROAD, SADASHIV PETH, PUNE, MAHARASHTRA - 411030, INDIA |
B78601507 |
|
3 |
10432014 |
05/02/2013 |
100,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B72473713 |
|
4 |
10313113 |
26/09/2011 |
45,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B23518343 |
|
5 |
10188583 |
14/05/2013 * |
150,000,000.00 |
ORIENTAL BANK OF COMMERCE |
917/918 SYNAGOGUE STREET, DINSHAW HOUSE, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B79731907 |
|
6 |
10209623 |
11/12/2012 * |
280,000,000.00 |
ANDHRA BANK |
610 SACHAPIR STREET, CAMP, PUNE, PUNE, MAHARASHTRA - 411001, INDIA |
B65229536 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
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 |
|
48 |
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.