MIRA
INFORM REPORT
|
Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAYFAIR HOTELS AND RESORTS LIMITED |
|
|
|
|
Registered
Office : |
8-B, Jayadev Vihar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
13.11.1995 |
|
|
|
|
Com. Reg. No.: |
15-004224 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 189.333 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101OR1995PLC004224 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BBNM00858E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM6873E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject owns and operates boutique hotels
and a resort for business and leisure travelers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3798000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses an average, though improved financial profile
marked by modest gearing and its cyclicality in the hospitality industry. Management has reported a sufficient net profitability during FY 13. Trade relations seem to be fair. Business is active. Payment terms are
reported as slow but correct. In view of established market position and strong brand in eastern India,
the subject can be considered 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
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
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 |
CRISIL |
|
Rating |
Long term rating : “BB” |
|
Rating Explanation |
Moderate risk of default regarding timely servicing
of financial obligations. |
|
Date |
27.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
27.06.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-674-2360101)
LOCATIONS
|
Registered Office : |
8-B, Jayadev Vihar, Bhubaneswar – 751013, Odisha, India |
|
Tel. No. : |
91-674-6660101/ 3250102/ 43250102 |
|
Fax No. : |
91-674-2360129 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Sales Offices : |
Located at · Noida Kolkata |
|
|
|
|
Sales Offices : |
Located at · Bhubaneswar Mumbai Goa Bangalore Guwahati Ranchi Visakhapatnam Chennai Jaipur |
|
|
|
|
Hotels : |
Located at · Rourkela Puri Darjeeling Bhubaneswar Gangtok Goa Ganjam |
DIRECTORS
As on 05.08.2013
|
Name : |
Mr. Dilip Kumar Ray |
|
Designation : |
Managing Director |
|
Address : |
38, Kalyani Unit VIII, Khurda, Bhubaneswar – 751012, Orissa, India |
|
Date of Birth/Age : |
09.01.1954 |
|
Qualification : |
B.Sc., Diploma in Hotel Management |
|
Date of Appointment : |
13.11.1995 |
|
PAN No.: |
AAWPR0334C |
|
DIN No. : |
00937564 |
|
|
|
|
Name : |
Mr. Bidhubhusan Samal |
|
Designation : |
Director |
|
Address : |
1101, Lokhandwalla Galaxy, Junction of KK and NM Joshi Marg, Mumbai –
400011, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1943 |
|
Date of Appointment : |
16.07.2006 |
|
DIN No. : |
00007256 |
|
|
|
|
Name : |
Mr. Gokul Patnaik |
|
Designation : |
Director |
|
Address : |
T9, 1st Floor, Green Park Extn., New Delhi – 110016, India |
|
Date of Birth/Age : |
15.11.1946 |
|
Date of Appointment : |
04.03.2010 |
|
DIN No. : |
00027915 |
|
|
|
|
Name : |
Mr. Sudhansu Bhusan Mishra |
|
Designation : |
Director |
|
Address : |
64, Forest Park, Khurda, Bhubaneswar – 751009, Orissa, India |
|
Date of Birth/Age : |
15.07.1941 |
|
Date of Appointment : |
16.07.2006 |
|
DIN No. : |
00030975 |
|
|
|
|
Name : |
Dipti Ranjan Patnaik |
|
Designation : |
Additional Director |
|
Address : |
X-5, Civil Township, Rourkela – 769004, Orissa, India |
|
Date of Birth/Age : |
26.03.1949 |
|
Date of Appointment : |
05.08.2013 |
|
DIN No. : |
00600887 |
|
|
|
|
Name : |
Astha Bassi |
|
Designation : |
Whole-time Director |
|
Address : |
43, North Avenue, West Punjab Bagh, New Delhi – 110026, India |
|
Date of Birth/Age : |
29.10.1983 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
04.03.2010 |
|
DIN No. : |
01531623 |
|
|
|
|
Name : |
Pooja Ray |
|
Designation : |
Whole-time Director |
|
Address : |
3-C, Nationalliabray Avenue, 2nd Floor, Flat 2C, Kolkata –
700027, West Bengal, India |
|
Date of Birth/Age : |
13.09.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.11.2009 |
|
PAN No. : |
AIFPR2768B |
|
DIN No. : |
02945569 |
|
|
|
|
Name : |
Souvagya Kumar Mohapatra |
|
Designation : |
Whole-time Director |
|
Address : |
46, Jaydurga Nagar, Bomikhal Laxmisagar, Khurda, Warbanes – 751003,
Orissa, India |
|
Date of Birth/Age : |
28.01.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.12.2012 |
|
PAN No. : |
AATPM7060R |
|
DIN No. : |
03197487 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.08.2013
|
Names of Shareholders |
No. of Shares |
|
Dilip Kumar Ray |
15866587 |
|
Sanjana Ray |
43204 |
|
Jayant Ray |
52042 |
|
Pooja Ray |
100 |
|
Astha Bassi |
100 |
|
Meera Panda |
200 |
|
Indrani Patnaik |
1000 |
|
Total |
15963233 |
As on 05.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject owns and operates boutique hotels
and a resort for business and leisure travelers. |
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Products : |
|
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|
Brand Name : |
“MAYFAIR” |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
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|
Bankers : |
· Allahabad Bank, Bapuji Nagar, 159, Bapuji Nagar, Bhubaneswar - 751009, Orissa, India State Bank of India, Commercial Branch, Bhubaneswar -
751001, Orissa, India · HDFC Bank Limited Bank of Baroda Andhra Bank |
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|
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. A and Associates Chartered Accountants |
|
Address : |
20, Govind Vihar, Bomikhal, Bhubaneswar - 751010, Odisha, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP2414G |
|
|
|
|
Subsidiary company
: |
· MAYFAIR Hotels and Resorts (Sikkim) Private Limited MAYFAIR Hotels and Resorts (Goa) Private Limited |
CAPITAL STRUCTURE
As on 05.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,963,233 |
Equity Shares |
Rs.10/- each |
Rs. 159.632 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,933,333 |
Equity Shares |
Rs.10/- each |
Rs. 189.333 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
189.333 |
189.333 |
189.333 |
|
(b) Reserves & Surplus |
760.148 |
676.770 |
624.892 |
|
(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) |
949.481 |
866.103 |
814.225 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1680.680 |
1058.388 |
965.400 |
|
(b) Deferred tax liabilities (Net) |
81.315 |
78.595 |
76.616 |
|
(c) Other long term liabilities |
0.450 |
0.870 |
0.295 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1762.445 |
1137.853 |
1042.311 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
20.441 |
22.747 |
27.850 |
|
(b) Trade payables |
26.066 |
31.488 |
11.525 |
|
(c) Other current
liabilities |
191.343 |
251.342 |
137.803 |
|
(d) Short-term provisions |
28.782 |
30.526 |
30.975 |
|
Total Current Liabilities (4) |
266.632 |
336.103 |
208.153 |
|
|
|
|
|
|
TOTAL |
2978.558 |
2340.059 |
2064.689 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1511.754 |
1181.285 |
1108.578 |
|
(ii) Intangible Assets |
2.250 |
2.671 |
2.351 |
|
(iii) Capital
work-in-progress |
74.287 |
99.523 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
727.281 |
888.052 |
851.171 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.459 |
6.063 |
5.595 |
|
(e) Other Non-current assets |
0.000 |
0.503 |
1.208 |
|
Total Non-Current Assets |
2322.031 |
2178.097 |
1968.903 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.315 |
29.491 |
27.991 |
|
(c) Trade receivables |
45.922 |
30.776 |
28.935 |
|
(d) Cash and cash
equivalents |
105.829 |
20.902 |
5.945 |
|
(e) Short-term loans and
advances |
463.461 |
80.793 |
32.915 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
656.527 |
161.962 |
95.786 |
|
|
|
|
|
|
TOTAL |
2978.558 |
2340.059 |
2064.689 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1036.866 |
910.288 |
754.014 |
|
|
|
Other Income |
10.646 |
8.959 |
4.634 |
|
|
|
TOTAL (A) |
1047.512 |
919.247 |
758.648 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
157.214 |
139.745 |
130.701 |
|
|
|
Purchases of Stock-in-Trade |
98.660 |
74.847 |
60.598 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.218) |
(0.952) |
(0.306) |
|
|
|
Employees benefits expense |
184.611 |
160.662 |
137.504 |
|
|
|
Other expenses |
316.826 |
260.713 |
198.465 |
|
|
|
TOTAL
(B) |
756.093 |
635.015 |
526.962 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
291.419 |
284.232 |
231.686 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.678 |
130.694 |
84.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
171.741 |
153.538 |
147.299 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
76.072 |
69.466 |
64.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
95.669 |
84.072 |
83.222 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.014 |
21.192 |
31.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
92.655 |
62.880 |
51.625 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
75.586 |
85.739 |
58.394 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital goods |
NA |
NA |
8.499 |
|
|
TOTAL IMPORTS |
NA |
NA |
8.499 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.88 |
3.30 |
2.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.85 |
6.84 |
6.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.23 |
9.24 |
11.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.39 |
6.22 |
6.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.79 |
1.25 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46 |
0.48 |
0.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
189.333 |
189.333 |
189.333 |
|
Reserves & Surplus |
624.892 |
676.770 |
760.148 |
|
Net
worth |
814.225 |
866.103 |
949.481 |
|
|
|
|
|
|
long-term borrowings |
965.400 |
1058.388 |
1680.680 |
|
Short term borrowings |
27.850 |
22.747 |
20.441 |
|
Total
borrowings |
993.250 |
1081.135 |
1701.121 |
|
Debt/Equity
ratio |
1.220 |
1.248 |
1.792 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
754.014 |
910.288 |
1036.866 |
|
|
|
20.726 |
13.905 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
754.014 |
910.288 |
1036.866 |
|
Profit |
51.625 |
62.880 |
92.655 |
|
|
6.85% |
6.91% |
8.94% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90080085 |
10/10/2005 * |
30,600,000.00 |
ALLAHABAD BANK |
BHUBANESWAR MAIN BRANCH, BHUBNESWAR, ORISSA, INDIA |
- |
|
2 |
90081127 |
25/06/2012 * |
1,701,000,000.00 |
ALLAHABAD BANK |
BAPUJI NAGAR, 159, BAPUJI NAGAR, BHUBANESWAR, ORISSA - 751009, INDIA |
B43901503 |
|
3 |
90081126 |
15/04/2002 |
9,000,000.00 |
ALLAHABAD BANK |
MAIN BRANCH, BHUNESHWAR, ORISSA, INDIA |
- |
|
4 |
90079882 |
10/09/2005 * |
39,000,000.00 |
ALLAHABAD BANK |
BHOBANESWAR, BHOBANESWAR, ORISSA, INDIA |
- |
|
5 |
90081083 |
18/07/2001 |
39,000,000.00 |
ALLAHABAD BANK |
BHUBANESWAR MAIN RANCH, BHUBANESWAR, ORISSA, INDIA |
- |
|
6 |
90081084 |
18/07/2001 |
39,000,000.00 |
ALLAHABAD BANK |
BHOBANESWAR, BHOBANESWAR, ORISSA, INDIA |
- |
|
7 |
90079619 |
11/12/1999 * |
44,400,000.00 |
ALLAHABAD BANK |
BHOBANESWAR, BHOBANESWAR, ORISSA, INDIA |
- |
|
8 |
90080951 |
25/02/2003 * |
44,400,000.00 |
ALLAHABAD BANK |
MAIN BRANCH, BHUNESHWAR, ORISSA, INDIA |
- |
|
9 |
90080952 |
18/07/2001 * |
44,400,000.00 |
ALLAHABAD BANK |
BHUBANESWAR MAIN RANCH, BHUBANESWAR, ORISSA, INDIA |
- |
|
10 |
90081850 |
06/03/2000 * |
44,400,000.00 |
ALLAHABAD BANK |
BHOBANESWAR, BHOBANESWAR, ORISSA, INDIA |
- |
|
11 |
90079518 |
10/10/2005 * |
1,500,000.00 |
ALLAHABAD BANK |
MAIN BRANCH, BHUBANESWAR, ORISSA, INDIA |
- |
|
12 |
90079516 |
10/10/2005 * |
8,897,462.00 |
ALLAHABAD BANK |
BHUBANESWAR MAIN RANCH, BHUBANESWAR, ORISSA, INDIA |
- |
|
13 |
90081824 |
17/08/2004 * |
8,897,462.00 |
ALLAHABAD BANK |
BHUBANESWAR MAIN RANCH, BHUBANESWAR, ORISSA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from shareholders |
502.500 |
46.100 |
|
Other loans and advances, others |
0.000 |
15.500 |
|
Total |
502.500 |
61.600 |
OPERATION
During the year, the Company’s turnover has increased by
13.95 % to Rs. 1047.512 Millions and the operating profit has increased by 2.53
% to Rs. 291.419 Millions compared to the previous year.
FUTURE OUTLOOK
With passage of time, the Company has earned its own turf and has found its niche in the industry. To enhance the brand value, the Company is also in the process of entering into arrangement with Companies to construct and run their property by sharing the brand name of MAYFAIR.
The business outlook for the year ahead is expected to be positive. The hotel industry expects that positive factors will continue to drive tourist and business traffic. The total turnover of the company has crossed the milestone of 100 Crores and expects to achieve sustainable and profitable growth in the coming years.
During the year the operation of MAYFAIR Palm Beach Resort, a 45 room property at Gopalpur on sea has started. The property was acquired from the Oberois and reconstruction was done to match the taste of current generation. The property has been well accepted by the guests.
Looking at the demand for hotel rooms at Puri, the Company has started construction of a 38 room premium resort, Mayfair Waves at Puri on a patch of land measuring 1.00 acre located just beside the existing unit. It is expected to start commercial operation by October, 2013.
The company is also in the process of entering into arrangement with a Kolkata based company to construct and run a property at Kolkata under the brand name of MAYFAIR.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Intangible Assets
· Computer Software
ODISHA-BASED HOSPITALITY GROUP MAYFAIR HOTELS AND
RESORTS OPEN NEW CHAIN MAYFAIR BANQUETS KOLKATA
Wednesday, February 05, 2014
Kolkata: MAYFAIR Banquets is a new address in Kolkata brought into being by MAYFAIR Hotels & Resorts Ltd – a leading hotel and resort group in Eastern India. The contemporary banquet hall with all world-class facilities in an ideal gateway for cocktail parties, weddings, birthday parties, social get-together and corporate events as well.
February 05, 2014: Another new addition after inauguration of MAYFAIR Waves – the 5-star ocean front boutique resort in Puri, of MAYFAIR Hotels & Resorts with world-class banqueting facilities in the ‘City of Joy’. The world-class banquet venue will be known as MAYFAIR Banquets Kolkata, symbolizing the growth, ambition and dream run of one of the largest chain of luxury boutique hotels and resorts in India.
“MAYFAIR Banquets” is now officially opened, and this “IS JUST THE BEGINNING”.
With nine luxury hotels ranging from 3-star to 5-star deluxe all over the country, MAYFAIR Hotels & Resorts has added a new name in the list of its hotel chain in the City of Joy named MAYFAIR Banquets Kolkata. The leading hotel group has finally landed on the shores of Kolkata nursing a dream that promises to change market trends, hospitality standards and the concept of luxury fusing with utmost care, comfort and class.
MAYFAIR Banquets, the largest pillar-less banquet hall in Kolkata presented exclusively by the Legendary, visionary hotelier Sri Dilip Ray – Managing Director of the MAYFAIR Group. Partnered with “Benchmark Events”, MAYFAIR Banquets always promises the ultimate banqueting experience with elegantly designed interiors and a lush vibrant exterior with special areas for Bride and Groom and special people.
State of the art air conditioning, safety, fire and alarm system, acoustics, are names a few that can match in terms of quality and substances. The luxurious banquet hall is supported by team of F and B experts, gourmet chefs who always offer cuisine of the world, the food and beverage services and standards that have been setting new benchmarks.
Feel free to give a call or send a mail to book the world-class venue for grand events, weddings and social gatherings.
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 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.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
46 |
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.