MIRA
INFORM REPORT
|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
T G R PROJECTS INDIA PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
Site No.159, TGR Corner,
Ground Floor, Bethel Nagar Layout, Kodigehalli Main Road, K.R. Puram Post,
Bangalore – 560 036, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.02.2012 |
|
|
|
|
Com. Reg. No.: |
08-062702 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200KA2012PTC062702 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Construction and Development Activity. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
relatively new company having moderate track record. The company has
achieved decent sales turnover in its first year of business operation.
However, profitability of the company is low. However, trade
relations are improving. Business is active. Payment terms are 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs.2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway
Pfizer has abandoned its attempt to buy AstraZeneca
for nearly $ 118 billion after the latter refused an offer of 55 pounds a
share.
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 : |
Mr. Makarand |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-80-25610049 |
|
Date : |
09.07.2014 |
LOCATIONS
|
Registered Office : |
Site No.159, TGR Corner,
Ground Floor, Bethel Nagar Layout, Kodigehalli Main Road, K.R. Puram Post,
Bangalore – 560 036, Karnataka, India |
|
Tel. No.: |
91-80-25610049 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Office : |
Ankshu Ecstasy, Hans Ashram Road, Near Bhattarahalli RTO, Off Old Madras Road, Bangalore, Karnataka, India |
DIRECTORS
AS ON 19.08.2013
|
Name : |
Ms. Aruna Devi |
|
Designation : |
Director |
|
Address : |
Aakanksha No.3, 3rd Cross, SSB Layout, |
|
Date of Birth/Age : |
07.07.1977 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05138552 |
|
|
|
|
Name : |
Mr. Gopala Reddy |
|
Designation : |
Director |
|
Address : |
Aakanksha No.3, 3rd Cross, SSB Layout, |
|
Date of Birth/Age : |
10.01.1951 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05138554 |
|
|
|
|
Name : |
Mr. Arvind Gopalareddy |
|
Designation : |
Director |
|
Address : |
Aakanksha No.3, 3rd Cross, SSB Layout, |
|
Date of Birth/Age : |
24.07.1983 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05137556 |
|
E-Mail : |
|
|
|
|
|
Name : |
Mr. Anand Gopal Reddy |
|
Designation : |
Director |
|
Address : |
Aakanksha No.3, 3rd Cross, SSB Layout, |
|
Date of Birth/Age : |
25.06.1984 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05137550 |
|
|
|
|
Name : |
Mr. Satish Hanumanth Reddy |
|
Designation : |
Director |
|
Address : |
Aakanksha No.3, 3rd Cross, SSB Layout, |
|
Date of Birth/Age : |
20.07.1968 |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
05138544 |
KEY EXECUTIVES
|
Name : |
Mr. Makarand |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.08.2013
|
Names of Shareholders (Equity Shares) |
No. of Shares |
% of Holding |
|
Aruna Devi |
20000 |
20.00 |
|
Gopala Reddy |
20000 |
20.00 |
|
Arvind Gopala
Reddy |
20000 |
20.00 |
|
Anand Gopal Reddy
|
20000 |
20.00 |
|
Satish Reddy |
20000 |
20.00 |
|
Total
|
100000 |
100.00 |
AS ON 25.03.2014
|
Names of Allottees (Preference Shares) |
|
No. of Shares |
|
Munsukh M Patel |
|
10000 |
|
Subhash M. Patel |
|
10000 |
|
Mulji K. Patel |
|
5000 |
|
Ratanben M. Patel
|
|
5000 |
|
Total
|
|
30000 |
AS ON 19.08.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Construction and Development Activity. |
GENERAL INFORMATION
|
Suppliers : |
·
Aakanksha Concrete Blocks ·
IGK Trade Links ·
Sri Srinivas ·
Mai Associates ·
Accubes Consortium |
|
|
|
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
Federal Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
UVK and Company Chartered Accountants |
|
Address : |
#863, 1st Floor, 18th Cross, MCECHS Layout, Dr.
Shivaram Karanth Nagar, |
|
Mobile No.: |
91-9844032489 |
|
E-Mail : |
|
|
PAN No.: |
AEZPK1186N |
|
|
|
|
Sister Concern Companies: |
·
Aakanksha Concrete Blocks ·
IGK Trade Links ·
Accubes Consortium ·
Ankshu Builders and Developers |
CAPITAL STRUCTURE
AFTER 19.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/-
each |
Rs.10.000
millions |
|
30000 |
Preference Shares |
Rs.100/-
each |
Rs.3.000
millions |
|
|
Total |
|
Rs.13.000 millions |
|
|
|
|
|
AS ON 19.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/-
each |
Rs.10.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
10.000 |
|
(b) Reserves & Surplus |
|
|
0.362 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
3.500 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
13.862 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.003 |
|
(c) Other long
term liabilities |
|
|
179.919 |
|
(d) Long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
179.922 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
2.049 |
|
(c)
Other current liabilities |
|
|
0.712 |
|
(d) Short-term
provisions |
|
|
0.186 |
|
Total Current
Liabilities (4) |
|
|
2.947 |
|
|
|
|
|
|
TOTAL |
|
|
196.731 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
41.287 |
|
(ii) Intangible
Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.685 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
41.972 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
152.070 |
|
(c)
Trade receivables |
|
|
1.771 |
|
(d) Cash
and cash equivalents |
|
|
0.743 |
|
(e)
Short-term loans and advances |
|
|
0.175 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
154.759 |
|
|
|
|
|
|
TOTAL |
|
|
196.731 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
158.878 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
158.878 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
158.327 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
158.327 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
0.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.189 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
0.362 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
3.62 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
52.51 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for About 1 year |
Yes |
|
12] |
Profitability for About 1 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 |
Yes |
|
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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:
No Charges Exist for Company.
FIXED ASSETS:
·
Air Conditioner
·
Computer and Software
·
Furniture and Fixture
·
Power Inverters-UPS
·
Land
·
TV
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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
27 |
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.