MIRA
INFORM REPORT
|
Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ PROPERTIES LIMITED |
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Registered
Office : |
Godrej Bhavan, 4th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.02.1985 |
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Com. Reg. No.: |
11-035308 |
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Capital
Investment / Paid-up Capital : |
Rs. 991.233 Millions |
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CIN No.: [Company Identification
No.] |
L74120MH1985PLC035308 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Real Estate Developer. |
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No. of Employees
: |
Information declined by management
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RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a part of Godrej having fine track record. There seems same dip in the profit of the company during 2014. However, overall financial position of the company is sound.
Fundamentals are strong. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings 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
N E W S
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 India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
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 India plant only for the domestic
market.
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 India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca
for nearly $ 118 billion after the latter refused an offer of 55 pounds a
share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
April 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
April 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-66510200)
LOCATIONS
|
Registered Office : |
Godrej Bhavan, 4th Floor, 4 A Home Street, Fort, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-66510200 |
|
Fax No.: |
91-22-22072044 |
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E-Mail : |
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Regional Office: |
Located at ·
Ahmedabad ·
Bangalore ·
Chandigarh ·
Chennai ·
Gurgaon ·
Hyderabad ·
Kolkata ·
Pune |
|
|
|
|
Site Address: |
·
Ahmedabad ·
Bangalore ·
Mumbai ·
Chandigarh ·
Hennai ·
Hyderabad ·
Haryana ·
Kalyan ·
Kolakata ·
Mangalore ·
Mumbai ·
Pune ·
Thane ·
Nagpur |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Adi B. Godrej |
|
Designation : |
Chairman |
|
|
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|
Name : |
Mr. Jamshyd N. Godrej |
|
Designation: |
Director |
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|
Name : |
Mr. Nadir B. Godrej |
|
Designation : |
Director |
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|
Name : |
Mrs. Parmeshwar A. Godrej |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Pirojsha Godrej |
|
Designation : |
Managing Director and Chief Executive Officer (Appointed w .e.f April
1, 2012) |
|
|
|
|
Name : |
Mr. Milind S. Korde |
|
Designation : |
Managing Director (up to March 31, 2012) |
|
|
|
|
Name : |
Mr. K.T Jithendran |
|
Designation : |
Executive Director |
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|
|
|
Name : |
Mr. V. Srinivasan |
|
Designation : |
Executive Director (Appointed w .e.f April 1, 2012) |
|
|
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|
Name : |
Mr. Amit B. Choudhury |
|
Designation: |
Director |
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|
|
|
Name : |
Mr. Keki B. Dadiseth |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Lalita D. Gupte |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Pranay V akil |
|
Designation : |
Director |
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|
|
|
Name : |
Dr. Pritam Singh |
|
Designation: |
Director |
|
|
|
|
Name : |
Mr. S. Narayan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Amitava Mukherjee |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
19932144 |
10.00 |
|
|
129414164 |
64.95 |
|
|
149346308 |
74.95 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
149346308 |
74.95 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2956919 |
1.48 |
|
|
82167 |
0.04 |
|
|
22871903 |
11.48 |
|
|
25910989 |
13.00 |
|
|
|
|
|
|
6241614 |
3.13 |
|
|
|
|
|
|
9316815 |
4.68 |
|
|
6736346 |
3.38 |
|
|
1696886 |
0.85 |
|
|
992510 |
0.50 |
|
|
586956 |
0.29 |
|
|
117420 |
0.06 |
|
|
23991661 |
12.04 |
|
Total Public shareholding (B) |
49902650 |
25.05 |
|
Total (A)+(B) |
199248958 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
199248958 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl.No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
Total shares (including underlying shares assuming
full conversion of warrants and convertible securities) as a % of diluted
share capital |
|
|
|
10,39,75,510 |
52.18 |
52.18 |
|
2 |
Godrej Industries Limited |
1,18,62,186 |
5.95 |
5.95 |
|
3 |
Godrej Industries Limited |
52,37,608 |
2.63 |
2.63 |
|
4 |
Nadir Barjorji Godrej |
39,86,430 |
2.00 |
2.00 |
|
5 |
Rishad Kaikhushru Naoroji |
39,86,430 |
2.00 |
2.00 |
|
6 |
Freyan Vijay Crishna |
20,81,516 |
1.04 |
1.04 |
|
7 |
Navroze Jamshyd Godrej |
20,81,516 |
1.04 |
1.04 |
|
8 |
Godrej Investments Private Limited |
20,15,862 |
1.01 |
1.01 |
|
9 |
Jamshyd Naoroji Godrej |
19,04,912 |
0.96 |
0.96 |
|
10 |
Nyrika Vijay Crishna |
19,04,912 |
0.96 |
0.96 |
|
11 |
Godrej and Boyce MFG Company Limited |
17,60,688 |
0.88 |
0.88 |
|
12 |
Godrej & Boyce MFG Company Limited |
17,00,000 |
0.85 |
0.85 |
|
13 |
Godrej & Boyce MFG Company Limited |
14,80,000 |
0.74 |
0.74 |
|
14 |
Ensemble Holdings & Finance Limited |
13,82,310 |
0.69 |
0.69 |
|
15 |
Tanya Arvind Dubash |
13,28,824 |
0.67 |
0.67 |
|
16 |
Nisaba Adi Godrej |
13,28,802 |
0.67 |
0.67 |
|
17 |
Pirojsha Adi Godrej |
13,28,802 |
0.67 |
0.67 |
|
|
Total |
14,93,46,308 |
74.95 |
74.95 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
JP Morgan Sicav Investment Company (Mauritius) Limited |
3399190 |
1.71 |
1.71 |
|
|
2 |
JP Morgan India Fund |
2505610 |
1.26 |
1.26 |
|
|
3 |
HDFC Standard Life Insurance Company Limited |
2476042 |
1.24 |
1.25 |
|
|
|
Total |
8380842 |
4.21 |
4.22 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developer. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management
|
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Bankers : |
·
State Bank of India ·
IDBI Bank ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
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Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage 127, Mahatma Gandhi Road, Mumbai - 400 001,
Maharashtra, India |
|
|
|
|
Holding company: |
Godrej industries limited (Gil) holds 61.62% (Previous Year – 61.46%)
shares in the company. Gilis the subsidiary of Godrej and Boyce Mfg. co.
limited, the Ultimate Holding company |
|
|
|
|
Subsidiaries: |
·
Godrej Realty Private Limited (51%) ·
Godrej Real Estate Private Limited (100%) ·
Godrej sea View Properties Private Limited
(50.10%) ·
Godrej Developers Private Limited (51%) ·
Happy Highrises Limited (51%) ·
Godrej Estate Developers Priate Limited (51%) ·
Godrej Buildwell Private Limited (49%) (subsidiary
due to control over composition of Board of Directors) ·
Godrej Buildcon Private Limited (100%) ·
Godrej Projects Development Private Limited
(100%) ·
Godrej Premium Builders Private Limited (51%) ·
Godrej Garden city Properties Private Limited
(100%) ·
Godrej nandhi Hills Project Private Limited
(100%) ·
Godrej landmark Redevelopers Private Limited
(51%) (sub subsidiary) ·
Godrej Redevelopers (Mumbai) Private Limited
(100%) (sub subsidiary) ·
Godrej Green Homes Limited ·
Wonder City Buildcon Private Limited ·
Wonder Space Properties Private Limited |
|
|
|
|
Limited Liability Partnership : |
·
Godrej Buildcorp llP ·
Godrej Property Developers llP ·
Godrej Vikhroli Properties llP ·
Mosiac landmarks llP ·
Dream World landmarks llP ·
SSPDL Gree Acres llP ·
Oxford Realty llP |
|
|
|
|
Other Related Parties in Godrej Group, where common control exists : |
·
Godrej investments Private Limited ·
Godrej infotech Limited ·
Wadala commodities Limited ·
Vora soaps Limited ·
Cartini India Limited ·
Bahar agrochem and Feeds Private Limited ·
Godrej (Malaysia) sdn. Bhd. (incorporated in
Malaysia) ·
Godrej (singapore) Pte Limited (incorporated in
Singapore) ·
Veromatic international BV (incorporated in the
Netherlands) ·
Busbar systems (India) Limited (formerly, Busbar
systems (India) Private Limited), (a Wholly-owned subsidiary w.e.f. 1st
February, 2013) (name changed w. e. f. 15th March, 2013) ·
Mercury Manufacturing Company Limited |
CAPITAL STRUCTURE
As on 27.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
234000000 |
Equity Shares |
Rs.5/- each |
Rs.1170.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199248958 |
Equity Shares |
Rs.5/- each |
Rs. 996.245
Millions |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
234000000 |
Equity Shares |
Rs.5/- each |
Rs.1170.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199234030 |
Equity Shares |
Rs.5/- each |
Rs. 996.170
Millions |
|
987510 |
Less: Equity Shares |
Rs.5/- each |
Rs.4.938
Millions |
|
|
|
|
|
|
|
Total |
|
991.233 Millions |
Note:
|
|
31.03.2014 |
|
|
|
No. of Shares |
Rs.
In Millions |
|
Number of Shares outstanding at the
begining of the year |
78046103 |
780.461 |
|
Movement during the year |
21570677 |
215.707 |
|
Additional on account of shares split from Rs.10/- toRs.5/- |
99.617 |
0.000 |
|
Movement during the year post split |
470 |
0.002 |
|
Number of Shares outstanding at the end of
the year |
199.234 |
996.170 |
|
Shareholding information: |
|
|
|
Equity Shares are held by: |
|
|
|
Godrej Industries Limited (Holding Company) |
122.775 |
|
|
Godrej and Boyce Manufacturing Company
Limited (Ultimate Holding Company) |
3.241 |
|
|
Ensemble Holdings and Finance Limited
(Subsidiary of Holding Company) |
1.382 |
|
|
Shareholders holding more than 5% of Equity
Shares: |
|
|
|
|
|
|
|
|
No. of Shares |
% |
|
Godrej Industries Limited |
122775304 |
61.62% |
Rights, preferences
and restrictions attached to shares:
The company has only one class of equity share having a par value of Rs.5 per share. Each holder of equity shares is entitled to one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the Annual General Meeting except in case of interim dividend. In the event of liquidation, the shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
991.233 |
780.461 |
780.368 |
|
(b) Reserves & Surplus |
16910.311 |
12862.477 |
13215.463 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
17901.544 |
13642.938 |
13995.831 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2037.033 |
3460.925 |
1602.104 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
10.850 |
2.768 |
0.120 |
|
(d) long-term provisions |
28.579 |
27.817 |
22.956 |
|
Total
Non-current Liabilities (3) |
2076.462 |
3491.510 |
1625.180 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
13166.907 |
4256.147 |
9586.647 |
|
(b) Trade payables |
1105.204 |
1088.099 |
1438.354 |
|
(c) Other current liabilities |
7019.344 |
4773.536 |
1829.546 |
|
(d) Short-term provisions |
477.423 |
420.129 |
319.773 |
|
Total
Current Liabilities (4) |
21768.878 |
10537.911 |
13174.320 |
|
|
|
|
|
|
TOTAL |
41746.884 |
27672.359 |
28795.331 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
106.407 |
83.477 |
89.679 |
|
(ii) Intangible Assets |
301.638 |
37.016 |
22.841 |
|
(iii) Capital work-in-progress |
684.323 |
440.979 |
222.134 |
|
(iv) Intangible assets under
development |
19.403 |
19.403 |
16.911 |
|
(b) Non-current Investments |
3159.475 |
1700.318 |
995.244 |
|
(c) Deferred tax assets (net) |
18.620 |
40.579 |
29.860 |
|
(d) Long-term Loan and Advances |
1250.821 |
1518.538 |
655.683 |
|
(e) Other Non-current assets |
28.826 |
108.192 |
9.052 |
|
Total
Non-Current Assets |
5569.513 |
3948.502 |
2041.404 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
58.650 |
|
(b) Inventories |
9283.312 |
6506.112 |
2573.566 |
|
(c) Trade receivables |
1162.342 |
631.584 |
1063.779 |
|
(d) Cash and cash equivalents |
6525.191 |
474.535 |
4414.530 |
|
(e) Short-term loans and
advances |
17039.252 |
14638.394 |
16758.370 |
|
(f) Other current assets |
2167.274 |
1473.232 |
1885.032 |
|
Total
Current Assets |
36177.371 |
23723.857 |
26753.927 |
|
|
|
|
|
|
TOTAL |
41746.884 |
27672.359 |
28795.331 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6640.047 |
4267.099 |
3689.406 |
|
|
Other Income |
1025.522 |
627.852 |
949.271 |
|
|
TOTAL
(A) |
7665.569 |
4894.951 |
4638.677 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Sales |
4915.116 |
2287.492 |
2541.297 |
|
|
Employee Benefits Expense |
238.881 |
175.141 |
60.209 |
|
|
Other Expenses |
314.554 |
402.698 |
272.939 |
|
|
TOTAL
(B) |
5468.551 |
2865.331 |
2874.445 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2197.018 |
2029.62 |
1764.232 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1185.402 |
598.193 |
688.431 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1011.616 |
1431.427 |
1075.801 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
49.479 |
35.376 |
31.806 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
962.137 |
1396.051 |
1043.995 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
14.380 |
169.374 |
230.348 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
947.757 |
1226.677 |
813.647 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2534.628 |
2568.28 |
2108.759 |
|
|
|
|
|
|
|
|
Utilised
during the year |
2637.049 |
771.953 |
0.0000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
398.695 |
312.301 |
234.142 |
|
|
Dividend Distribution Tax |
67.758 |
53.076 |
37.984 |
|
|
Transfer to General Reserve |
98.000 |
123.000 |
82.000 |
|
|
Total |
564.453 |
488.377 |
354.126 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
309.643 |
2534.628 |
2568.280 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
Basic |
5.280 |
15.72 |
11.63 |
|
|
Diluted |
5.280 |
15.71 |
11.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
12.36 |
25.06 |
17.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.49 |
32.72 |
28.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54 |
5.39 |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
0.57 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
2.29 |
2.03 |
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 |
780.368 |
780.461 |
991.233 |
|
Reserves & Surplus |
13215.463 |
12862.477 |
16910.311 |
|
Net
worth |
13995.831 |
13642.938 |
17901.544 |
|
|
|
|
|
|
long-term borrowings |
1602.104 |
3460.925 |
2037.033 |
|
Short term borrowings |
9586.647 |
4256.147 |
13166.907 |
|
Total
borrowings |
11188.751 |
7717.072 |
15203.940 |
|
Debt/Equity
ratio |
0.799 |
0.566 |
0.849 |
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 |
3689.406 |
4267.099 |
6640.047 |
|
|
|
15.658 |
55.610 |
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 |
3689.406 |
4267.099 |
6640.047 |
|
Profit |
813.647 |
1226.677 |
947.757 |
|
|
22.05% |
28.75% |
14.27% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current
maturities of long-term debt |
|
|
|
|
Unsecured Deposit |
|
|
|
|
From - Directors |
0.000 |
0.000 |
4.700
|
|
From - Shareholders |
71.783 |
0.683 |
12.172
|
|
From - Public |
1377.063 |
146.267 |
666.088
|
|
Total |
1448.846 |
146.950 |
682.960 |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
06/06/2014 |
|||||||||
|
|
Lodging No.:- |
ARBPL/887/2014 |
Filing Date:- |
06/06/2014 |
Reg. No.:- |
ARBP/828/2014 |
Reg. Date:- |
24/06/2014 |
|
|
|
|
Petitioner:- |
CAPSULATION SERVICES PRIVATE LIMITED |
Respondent:- |
GODREJ PROPERTIES LIMITED |
|
|||||||||||||||||||
|
|
Petn.Adv.:- |
Ashok Purohit and Company (I72025) |
Resp.Adv.:- |
Chandana Salgaocar (I1868) |
|
|||||||||||||||||||
|
|
District:- |
MUMBAI |
|
|||||||||||||||||||||
|
|
Bench:- |
SINGLE |
|
|
|
|||||||||||||||||||
|
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
|
|||||||||||||||||||
|
|
Next Date:- |
21/08/2014 |
Stage:- |
MATTERS AT 3.00 P.M.[ORIGINAL SIDE MATTERS] |
|
|||||||||||||||||||
|
|
Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
|||||||||||||||||||||
|
|
Last Date:- |
18/07/2014 |
Stage:- |
ARBP FOR ADMISSION - FRESH |
|
|||||||||||||||||||
|
|
Last Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
|||||||||||||||||||||
|
|
Act :- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
37 |
||||||||||||||||||||
OVERVIEW OF OPERATIONS: The Company posted a total income of 7665.600 Millions during the year ended March 31, 2014. Despite the current uncertainties and challenges in the real estate environment, the Company has successfully demonstrated strong value addition to its development portfolio. In the current fiscal year, the Company has signed 8 new projects adding 13 million sq. ft. of saleable area to its portfolio. The new projects signed are located in Mumbai, the National Capital Region, Pune, Bangalore and Chennai. The projects added are all of substantial size and are in line with the company''s long term strategy of focusing on value accretive and risk efficient models. While real estate supply continues to outpace growth in demand across most cities in the country, the Company achieved its highest ever quarterly sales in the fourth quarter of the fiscal year, driven by successful new launches in Mumbai and Bengaluru. The Company launched new projects and phases totaling over 2.82 million square feet in the fiscal year. The highlight of the year was the successful launch of Godrej Central, the Company’s first redevelopment project, which registered bookings of over 200 apartments valued at over Rs 4000.000 Millions on the day of its launch. Another milestone for the Company was the launch of Godrej United in Bengaluru. The launch was achieved within 12 months of the project being added to the Company’s portfolio. Godrej United also witnessed strong uptake in the market, registering sales worth over Rs 1000.000 Millions over the span of a few weeks. With the current challenges facing the Indian economy dampening commercial real estate sales across major cities in the country, the Company registered significant sales in the commercial space, registering sales of close to 800,000 square feet across three projects in Mumbai and Kolkata. Delivering on its customer commitments, the Company handed over 624 apartments across 13 towers in Godrej Garden City, the Company''s first township project. The Global Indian International School at Godrej Garden City, Ahmedabad was also inaugurated in the fiscal year. This is the first school that the Company has built and marks an important milestone for the township. The company continues to deliver on its vision of being the most trusted name in the real estate industry, and has been recognized as such, winning the ''Best Business Practice in Real Estate'' at the National Real Estate Award for Excellence in Real Estate for the year 2012 and the ''Ethical Brand for Real Estate'' award by CMO Asia. The company has intensified its efforts with regards to its customer-centric initiatives, and is continuously incorporating customer feedback in design and specifications, across all its projects. The Company has made good progress in its customer management and marketing abilities through numerous targeted customer engagement programs and innovative digital campaigns. The Company has taken strides towards making itself a design led organization. The Company continues to build capabilities in its design team and endeavors to work with the best talent, worldwide. The company''s focus of creating extraordinary and imaginative spaces has been recognized internationally - with The Trees'' winning an ''Honor Award'' from the Boston Society of Landscape Architects in the current fiscal year. The Company also continues its focus to deliver on its commitments on the sustainability front, aiming for green building certifications for all ongoing and future projects. In the current fiscal year, Godrej BKC received a LEED Platinum Pre-Certification; it is the first building in the prestigious Bandra Kurla Complex in Mumbai that has received the certification. The company also received the ''Sustainability Award'' from the Cll for its contribution to green building mission at the Green Co Summit 2013. The company and its projects received 25 awards in the year at the entity and project levels including the ''Best Emerging Developer'' at the NDTV Property Awards 2013, the ''Brand Excellence Award'' at the Brand Excellence Summit 2013, the ''Master Brand 2013'' at the World Brand Congress Summit and the ''Developer of the Year'' at the Indian Realty Awards 2013. In recognition of the Company''s endeavor to maintain outstanding employee practices and encourage a collaborative work environment, the Company was ranked amongst India''s Top 25 Companies to Work for in 2013: Ranked #25 in the overall category and Ranked #1 in the Real Estate and Construction Sector in a study conducted by the Great Places to Work Institute and the Economic Times. FUTURE PROSPECTS AND OUTLOOK OF THE COMPANY: With the real estate markets and customer sentiments closely correlated to the overall growth in the Indian economy, the Company expects that the real estate industry would continue to remain under pressure for the next fiscal year. However, the Company is committed to meet and exceed the expectations of all its stakeholders. In order to achieve the same, the Company shall continue to build scale through capital efficient business models such as sourcing land under the joint development model and the development manager model. The Company''s primary areas of focus for new business development shall be major cities of Mumbai, NCR and Bengaluru while at the same time opportunistically pursuing other key markets. The Company s business development strategy shall be aligned towards less capital intensive Profit Sharing and Development Manager models. Additionally, the Company will focus on sourcing land with large capital requirements in their target geographies under the Residential Co-investment platform with the Company acting as the development manager for these projects and sharing in the equity profits as well. On the operational front, timeliness of launches and execution shall continue to be a strong focus area for the company. The Company will continue to improve its project execution capabilities across regions, strengthened through strategic partnerships with leading construction firms. Other focus areas for the company shall be optimizing return on capital and developing crisis and risk management capabilities. SCHEME OF AMALGAMATIONS: During the financial year, the following Schemes of Amalgamation were approved by the Hon''ble Bombay High Court: Godrej Estate Developers Limited was amalgamated with Godrej Sea View Properties Limited in terms of the Scheme of Amalgamation (the ''Scheme'') sanctioned by the Hon''ble Bombay High Court vide its order dated March 7, 2014. The appointed date of the Scheme was December 31, 2013. Godrej Sea View Properties Limited and Godrej Nandhi Hills Project Private Limited were amalgamated with the Company in terms of the Scheme of Amalgamation (the ''Scheme'') sanctioned by the Hon''ble Bombay High Court vide its order dated April 11, 2014. The appointed date of the Scheme was January 1, 2014. Godrej Developers Private Limited was amalgamated with Godrej Projects Development Private Limited in terms of the Scheme of Amalgamation (the ''Scheme'') sanctioned by the Hon''ble Bombay High Court vide its order dated April 29, 2014. The appointed date of the Scheme was April 1, 2013.
MANAGEMENT
DISCUSSION AND ANALYSIS
GLOBAL ECONOMY
Global
economic growth remained low during financial year 2013-14, averaging only
2.9%, which is the slowest it has been since 2009. The advanced economies have
recently seen improved growth while emerging market economies have slowed,
albeit the bulk of global growth continues to come from the emerging economies.
The latest indicators point to somewhat better prospects in the near term but
different growth dynamics between the major economies.
The
International Monetary Fund (IMF) has raised the global economic growth outlook
for 2014 to 3.6% and this is expected to accelerate to 3.9% in 2015. Growth in
the advanced economies is seen increasing to about 2.3% during FY2014–15, a 1%
improvement over 2013. Key drivers for this improvement are a reduction in fiscal
tightening and supportive monetary conditions.
Growth
is expected to be the strongest in the United States at about 2.8% in 2015. In
the European Union, growth is projected to be positive but varied. In the
emerging markets and developing economies growth is projected to gradually pick
up from 4.7% in 2013 to about 5% in 2014 and further to 5.3% in 2015. This will
be aided by stronger external demand from advanced economies. Economic growth
in China is projected to remain steady at 7.5% in 2014 as authorities seek to
rein in credit and advance reforms, while ensuring a gradual transition to a
sustainable growth path.
INDIAN ECONOMY
The
Indian economy weathered the global financial crisis well. It quickly recovered
from the decline in FY2008-09 to a healthy growth rate of around 9% annually
during FY2009-10 and FY2010- 11. However, the recovery was short-lived as
economic growth decelerated to 6.2% in FY2011- 12 and further to 5.0% in
FY2012-13. The Indian economy grew by 4.7% in FY14. This marks a second
straight year of below 5% growth.
The
IMF has estimated a better year ahead for the Indian economy per the World
Economic Outlook that it released in January 2014. A series of reform measures
have been taken including clearing several large-scale projects by the Cabinet
Committee on Investment. These are collectively projected to help revive the
Indian economy and investor sentiment. In addition, the resurgence of exports,
prospects of a revival in the global economy and moderation in inflation point
towards a better outlook for the domestic economy during FY2014-15.
REAL ESTATE SECTOR:
AN OVERVIEW
The
real estate sector continues to be at the core of the Indian Economy and a meaningful
contributor to its GDP growth, employment, foreign direct investment and to the
banking and finance industry (BFSI). Although FY2013-14 was a difficult year
for the real estate sector the long-term potential for the sector remains
intact and it continues to be an important catalyst to the nation’s overall
economic growth.
During FY2013-14,
subdued sales, increased unsold inventory levels and high leverage undermined
the sector’s performance. Political uncertainty, slow economic growth,
sustained weakening of the Indian Rupee, rising inflation and hardening
interest rates continued to be the key barriers to improving demand. Further,
adverse regulatory developments and increased borrowing rates pushed up project
costs and delayed execution timelines. The real estate market also witnessed a
general slowdown in absorption rates in the residential and commercial asset
classes.
Delays in
obtaining approvals, demand-supply gaps and rising input costs continued to be
a cause for concern. Monetary tightening on account of the Reserve Bank of
India’s (RBI) measures to control inflation was a major macro influence on the
sector. Overall, liquidity in the sector remained tight as banks continued to
be selective in extending loans. In January 2014, RBI increased the repo rate
to 8% as a measure to control inflation which affected borrowing costs and
hampered supply and new launches. Increased lending rates translated into an
increase in housing loan rates which in turn softened residential sales.
On the policy
front, the year witnessed the introduction of several new state and local
approvals and environment clearances. While some of these regulations increased
project costs and deadlines, some showcased the Government’s inclination to
increase investments and usher in transparency. An encouraging development
during the year was the passing of draft guidelines on Real Estate Investment
Trusts (REITs). Despite many obstacles, India’s real estate market has been
resilient, demonstrating steadiness even in times of economic sluggishness. The
silver lining has been a slow but gradual increase in sales momentum, a
moderate rise in capital values across a few cities and the holding up of
prices across major cities.
COMMERCIAL REAL
ESTATE
The
commercial real estate sector stayed relatively weak. Reduction in new office
developments, decline in leasing activity, lack of appreciation in capital values,
compression in yields and lease rentals across major Indian cities were a few
factors that impacted overall performance. Also developers were more inclined
towards residential projects over commercial development. A decelerating GDP
growth and political uncertainty impacted the overall investment climate. An
emerging trend in CY2013 was that of a substantial portion of office space
absorption being on account of companies relocating or consolidating operations
to a single, larger and economic location.
A similar trend
continued during the first quarter of 2014. The occupier focus continued to
remain on improving existing space utilization and/or relocation to peripheral
and secondary micromarkets with majority of deal closures resulting for
small-to-medium-sized office spaces. IT/ITeS, financial and services segments
continued to drive demand for office space in India’s leading cities.
In the long term,
commercial real estate is expected to witness robust demand with an increasing
number of companies looking to expand operations and setting up offices in
suburban locations. These locations are equipped with large office space with
modern amenities, car parking and safety at relatively low rents. Issuance of
new banking licenses will stimulate increased demand from the BFSI sector.
Given the shortage of quality office space, Mumbai’s commercial real estate
market continues to remain attractive. Going forward, rental values across most
micro-markets in India’s six major cities will remain steady even in a weak
demand scenario with restricted new supply being added to the office inventory.
The market is expected to further pick up momentum with more corporate houses
looking at buying property instead of leasing.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits |
|
|
|
From directors |
5.600 |
5.200 |
|
From shareholders |
232.132 |
298.155 |
|
From public |
1799.301 |
3157.570 |
|
Short-term
borrowings |
|
|
|
Cash credit / Invoice Financing |
1256.735 |
7.065 |
|
Other Loans |
4000.000 |
2000.000 |
|
Other loans |
2000.000 |
0.000 |
|
Total |
9293.768 |
5467.990 |
|
NOTE: Deposits having maturity of two years amounting to Rs. 1981.730 Millions and three years amounting to Rs. 55.303 Million bearing interest rate @ 8.50 % to 10.50% payable half yearly. Unsecured Over draft facility amounting to Rs. 64.147 Millions carries interest at Base rate + 175 basis point. Present effective rate is 12% p.a Rs. 800.000 Millions of overdraft 10.40%. Overdraft of Rs.1.887 millions carries interest at base rate + 25 basis point present effective rate is 10.20% p.a unsecured invoice financing is availed amounting to Rs. 390.702 Millions carrying interest in a range from 10.20% p.a. to 10.25% p.a. Other loans include Rs.1300.000 Millions availed crying interest at Base rate + 25 basis point p.a. Present effective rate is 10.50% p.a. of the above Rs. 1000.000 Million is repayable on September 17, 2014 and Rs. 300.000 Millions is repayable on October 25, 2014. Short term lna amounting to Rs. 1200.000 Millions is availed at rate of interst 10.20% p.a. (Fixed) Repayable on March 7, 2015. Rs.1500.000 Millions availed from commercial papers carrying iterst at 10.95% p.a. Repayable on April 30, 2014. Rs.1000.000 Millions availed from commercial papers carrying iterst at 10.55% p.a. Repayable on June 9, 2014. Rs.1000.000 Millions availed from commercial papers carrying iterst at 10.08% p.a. Repayable on June 19, 2014. |
||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90238043 |
03/09/2004 * |
160,000,000.00 |
UTI BANK LIMITED |
UNIVESAL INSURANCE BLDG., SIR P. M. ROAD; FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
2 |
90238122 |
01/02/2006 * |
160,000,000.00 |
UTI BANK |
UNIVERSAL INSURANCE BUILDING SIR P.M. ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90234881 |
30/10/2013 * |
8,505,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP
BRANCH, NEVILLE HOUSE, |
B89690150 |
|
4 |
90232719 |
02/02/1998 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
SHIVAJI PARK
BRANCH, MAHIM, MUMBAI, MAHARASHTRA - |
- |
|
5 |
90232717 |
15/01/1998 |
31,500,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE BRANCH; 307/308, RAHEJA CENTRE; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Matters |
31.03.2014 |
31.03.2013 |
|
1) Claims against Company not Acknowledged as
debts; |
|
|
|
i) Claims against the Company not
acknowledged as debts represent cases filed by parties in the Consumer forum,
Civil Court and High Court and disputed by the Company as advised by our
advocates. In the opinion of the management the claims are not sustainable. |
82.116 |
82.999 |
|
ii) Claims against the Company under the
Labour Laws for disputed cases |
1.989 |
1.989 |
|
iii) Claims against the Company under Bombay
Stamp Act, 1958 |
14.850 |
14.850 |
|
iv) Other Claims against the Company not
acknowledged as debts |
11.184 |
3.925 |
|
v) Claims against the Company under Income Tax
Act, Appeal preferred to Commissioner of Income Tax (Appeals) |
5.997 |
2.203 |
|
vi) Claims against the Company under Sales Tax
Act, Appeal preferred to The Joint Commissioner of Commercial Taxes (Appeals) |
21.875 |
12.130 |
|
vii) Appeal preferred to Customs,
Excise and Service Tax Appellate tribunal at Bangalore |
335.103 |
316.499 |
|
II) Guarantees; |
2.656 |
|
|
i) Guarantees given by Bank, counter
guaranteed by the Company |
345.189 |
174.168 |
|
|
|
|
|
III) Other Money for which Company
is contingently liable |
|
|
|
i) Letter of credit opened by Bank on behalf
of the Company |
12.000 |
113.425 |
FIXED ASSETS
Tangible Assets
·
Land
·
Building
·
Leasehold improvement
·
Office Equipment
·
Site Equipments
·
Furniture and Fixtures
·
Computer
·
Motor Vehicle
Intangible Assets
·
Licenses and software
·
Trade mark
PRESS RELEASES
GODREJ PROPERTIES TO DEVELOP TOWNSHIP PROJECT IN BANGALORE
APRIL 07, 2014
Realty firm Godrej Properties today said it has entered into a partnership to develop a 100-acre township in Bangalore.
"Godrej Properties Limited, the real estate development arm of the Godrej Group, has entered into an LLP (limited liability partnership) to develop a residential township project in North Bengaluru," the company said in a statement.
Also read: Foresee realty turaround if NDA comes to power: Adi Godrej The 100-acre project would offer a potential saleable area of about 9.4 million sq ft. Like other projects, this township would be developed as a profit sharing partnership, it said.
The company, however, did not mention the name of the partner.
The project is proposed to be developed as an integrated township with a mix of residential unit types as well as a school, convenience retail, and other amenities. Godrej Properties MD and CEO Pirojsha Godrej said: "This will be our third township project after our projects in Ahmedabad and Mumbai and we will seek to create an outstanding destination".
As per the company's strategy, Godrej Properties has been adding projects to its portfolio through joint ventures with land owners. Last month, Godrej Properties had entered into a joint venture with two local firms to develop a premium housing project in Pune. It would get 35 percent profit from the 43-acre JV project. Only last month, the company signed an agreement with group firm Godrej and Boyce for the development of a premium housing project on the latter's land parcel at Vikhroli in Mumbai.
Godrej Properties is currently developing residential, commercial and township projects spread across 95 million sq ft in 12 cities. Godrej Prop stock price On July 24, 2014, at 14:11 hrs Godrej Properties was quoting at Rs 243.10, up Rs 0.75, or 0.31 percent. The 52-week high of the share was Rs 262.00 and the 52-week low was Rs 153.90. The company's trailing 12-month (TTM) EPS was at Rs 4.90 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 49.61. The latest book value of the company is Rs 89.83 per share. At current value, the price-to-book value of the company is 2.71
.
GODREJ PROPERTIES UP 6% POST BLOCK DEAL WORTH RS 40.6 CR
JUNE 25, 2014
Moneycontrol Bureau The rally continued in Godrej Properties on Wednesday after
more than 17 lakh equity shares exchanged on BSE at Rs 238.60 apiece through
block deal. The stock gained as much as 6 percent intraday, in addition to 2.4
percent rise in previous session.
The block deal was worth Rs 405.600 Millions and it was amounting to 0.85 percent equity stake. Meanwhile, the Mumbai-based real estate developer says it along with its subsidiary Wonder City Buildcon Private Limited (WCBPL) has entered into an agreement with Shubh Properties Cooperatief U.A, and others, to transfer 74.9 percent of the equity share capital held by the company in WCBPL for its project at sector 79, Gurgaon.
Pursuant to the above, WCBPL has ceased to be the subsidiary of the company post transfer of equity shares, it adds. At 13:18 hours IST, the stock was quoting at Rs 245.50, up 3.43 percent on the BSE.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.18 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.