MIRA INFORM REPORT
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Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SHREE RAM URBAN INFRASTRUCTURE LIMITED (w.e.f. 20.03.2007) |
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Formerly Known
As : |
SHREE RAM MILLS LIMITED |
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Registered
Office : |
Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
25.01.1935 |
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Com. Reg. No.: |
11-002241 |
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Capital
Investment / Paid-up Capital : |
Rs.411.345 Millions |
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CIN No.: [Company Identification
No.] |
L17110MH1935PLC002241 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37641C |
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PAN No.: [Permanent Account No.] |
AACCS0454P |
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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
: |
Subject is in the business of Real Estate. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
B (35) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 11650000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an old and established company having moderate track
record. Company has incurred loss from its operation in the year 2013. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-24932728)
LOCATIONS
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Registered Office : |
Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
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Tel. No. : |
91-22-24932728 / 61404900 / 24965701 |
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Fax No. : |
91-22-24928617 |
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E-Mail : |
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Website : |
DIRECTORS
As on 31.12.2013
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Name : |
Mr. Shambhukumar Shankarlalji Kasliwal |
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Designation : |
Chairman |
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Address : |
Padam 2, Flat 10, 4 B G Deshmukh Marg, Mumbai – 400026, |
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Date of Birth/Age : |
11.11.1930 |
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Date of Appointment : |
09.10.1978 |
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DIN No.: |
00555161 |
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Name : |
Mr. Vikas Shambhukumar Kasliwal |
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Designation : |
Vice - Chairman and CEO |
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Address : |
Padam 2, Flat 27, 4 B G Deshmukh Marg, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
07.09.1956 |
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Date of Appointment : |
30.10.2002 |
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DIN No.: |
00046876 |
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Name : |
Mr. Subhkaran Kamalprasad Luharuka |
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Designation : |
Whole-time Director |
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Address : |
Vasant Galaxy Mars, Building ‘B’, Wing, Flat 304, Bangurnagar, Goregaon
West, Mumbai – 400090, Maharashtra, India |
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Date of Birth/Age : |
05.10.1941 |
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Date of Appointment : |
26.06.1996 |
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DIN No.: |
01068251 |
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Name : |
Mr. Mukul Shambhukumarji Kasliwal |
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Designation : |
Director |
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Address : |
Padam, 4 B G Deshmukh Marg, Mumbai – 400026, |
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Date of Birth/Age : |
20.10.1964 |
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Date of Appointment : |
28.04.2003 |
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DIN No.: |
00058577 |
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Name : |
Mr. Vijay Goverdhandas Kalantri |
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Designation : |
Director |
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Address : |
2, Wahendna Apartment, 75, |
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Date of Birth/Age : |
05.01.1949 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00019510 |
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Name : |
Mr. (Dr.) |
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Designation : |
Director |
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Address : |
B-204, Natasha Enclave, |
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Date of Birth/Age : |
15.02.1934 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00026712 |
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Name : |
Mr. Lalit Mohan |
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Designation : |
Director |
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Date of Birth/Age : |
75 Years |
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Date of Appointment : |
25.08.2005 |
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Name : |
Mr. Mohan Motiram Jayakar |
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Designation : |
Director |
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Address : |
12, Makani Manor, 1st Floor, |
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Date of Birth/Age : |
08.10.1951 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
00925962 |
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Name : |
Dr. Poornima Govind Advani |
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Designation : |
Director |
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Address : |
73/63, Mehrdad, Cuffe Parade, Mumbai – 400005, |
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Date of Birth/Age : |
29.07.1960 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
02626450 |
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Name : |
Mr. Naresh Kumar Sethi |
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Designation : |
Director |
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Address : |
Rishabh Deep, 4/83, Surya Path, Jawahar Nagar, Jaipur – 302004, |
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Date of Birth/Age : |
08.02.1937 |
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Date of Appointment : |
14.05.2011 |
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DIN No.: |
03554868 |
KEY EXECUTIVES
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Name : |
Ms. Manju Balaram Batham |
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Designation : |
Senior General Manager and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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2234800 |
5.43 |
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26835125 |
65.24 |
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29069925 |
70.67 |
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Total shareholding of Promoter and Promoter Group (A) |
29069925 |
70.67 |
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(B) Public Shareholding |
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|
420 |
0.00 |
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20520 |
0.05 |
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2087756 |
5.08 |
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2108696 |
5.13 |
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|
7169290 |
17.43 |
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|
1249385 |
3.04 |
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|
1515338 |
3.68 |
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|
21906 |
0.05 |
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|
601 |
0.00 |
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|
21305 |
0.05 |
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|
9955919 |
24.20 |
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Total Public shareholding (B) |
12064615 |
29.33 |
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Total (A)+(B) |
41134540 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
41134540 |
100.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
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No. of Shares held |
As a % |
||
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1 |
Shambhukumar S Kasliwal |
50,000 |
0.12 |
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2 |
Anuradha Vikas Kasliwal |
56,400 |
0.14 |
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3 |
Anuradha Vikas Kasliwal |
72,000 |
0.18 |
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4 |
Anuradha Vikas Kasliwal |
2,940 |
0.01 |
|
5 |
Anuradha Vikas Kasliwal |
1,77,563 |
0.43 |
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6 |
Rajkumari S Kasliwal |
13,27,017 |
3.23 |
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7 |
Rajkumari S Kasliwal |
97,740 |
0.24 |
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8 |
Rajkumari S Kasliwal |
2,100 |
0.01 |
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9 |
Rajkumari S Kasliwal |
840 |
0.00 |
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10 |
Rajkumari S Kasliwal |
200 |
0.00 |
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11 |
Vikas Shambhukumarji Kasliwal |
4,48,000 |
1.09 |
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12 |
Kartikeya Finvest Private Limited |
5,03,985 |
1.23 |
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13 |
Vidhi Holdings Private Limited |
5,23,901 |
1.27 |
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14 |
Akhilesh Investfin Private Limited |
90,71,713 |
22.05 |
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15 |
Mandakini Investfin Private Limited |
50,84,678 |
12.36 |
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16 |
Yashaswini Investment Company Private Limited |
55,00,000 |
13.37 |
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17 |
Hanumesh Investments Private Limited |
61,50,848 |
14.95 |
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Total |
2,90,69,925 |
70.67 |
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 % |
|
|
1 |
Adhir Barter Private Limited |
2215322 |
5.39 |
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2 |
Hakmans Financial Services and Securities Private Limited |
2200000 |
5.35 |
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3 |
Hypnos Fund Limited |
1208771 |
2.94 |
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4 |
Turan Infratech Private Limited |
562473 |
1.37 |
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5 |
Girija Holding Private Limited |
503985 |
1.23 |
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6 |
Raj Infin Private Limited |
503985 |
1.23 |
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7 |
Elara India Opportunities Fund Limited |
503985 |
1.23 |
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Total |
7698521 |
18.72 |
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Shareholding of securities (including shares, warrants, convertible
securities) of persons (together with PAC) belonging to the category “Public”
and holding more than 5% of the total number of shares of the company
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % |
|
|
1 |
Adhir Barter Private Limited |
2215322 |
5.39 |
|
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2 |
Hakmans Financial Services and Securities Private Limited |
2200000 |
5.35 |
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|
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Total |
4415322 |
10.73 |
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Details of Locked-in Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as % |
|
1 |
Hanumesh Investments Private Limited |
55,00,000 |
13.37 |
|
2 |
Yashaswini Investments Company Private Limited |
55,00,000 |
13.37 |
|
3 |
Mandakini Investfin Private Limited |
50,84,678 |
12.36 |
|
|
Total |
1,60,84,678 |
39.10 |
BUSINESS DETAILS
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Line of Business : |
Subject is in the business of Real Estate. |
GENERAL INFORMATION
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No. of Employees : |
Information declined by management |
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Bankers : |
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Facilities : |
NOTE LONG TERM
BORROWINGS i Term loans from
NBFCs a) Project loan The project loan taken from NBFC of Rs. 640.000 Millions is secured by extension of first charge against registered mortgage of Plot Nos. 5B and 6 situated at Shree Ram Mills Premises, Lower Parel Div., Mumbai together with building and structures thereon, both present and future viz. "Palais Royale" and further secured by first and exclusive charge on all the receivables /cash flows arising from the sale of the aforesaid project of developed area as well as pre-sold in favor of the Lender and personal guarantee of one of the Director. The tenure of loan is 60 months from the date of disbursement and is repayable in 12 quarterly installments of Rs. 53.333 Millions commencing from March 2016, whereas interest is payable monthly. The rate of interest is linked to lender's PLR minus 490 basis points (currently applicable rate of interest is 18.10% per annum). Loan repayable within one year is Rs. NIL (Previous year: Rs. NIL). b) Vehicle loans Vehicle Loans (Secured) taken from NBFCs amounting to Rs.0.957 Millions are secured against hypothecation of assets financed. These loans are repayable in 29 to 30 monthly installments from the balance sheet date and carries interest @ 11.17% per annum. Loan repayable within one year is Rs. 0.358 Million (Previous year: Rs. NIL). SHORT TERM BORROWINGS i) Term loan from
NBFCs a) Project Loan The Project loan taken from NBFC of Rs. 3850.000 Millions (Previous year : Rs. 5500.000 Millions) is secured by first charge against registered mortgage of Plot Nos. 5B and 6 situated at Shree Ram Mills Premises, Lower Parel Div., Mumbai together with building and structure thereon, both present and future viz. "Palais Royale" and further secured by first and exclusive charge on all the receivables / cash flows arising from the sale of the aforesaid project of developed area as well as pre-sold in favor of the Lender and personal guarantee of one of the Director. The loan of Rs. 825.000 Millions is repayable by 30-June-14, Rs. 825.000 Millions is repayable by 31-Dec-14, Rs. 1100.000 Millions is repayable by 30-June-15 and Rs. 1100.000 Millions is repayable by 31-Dec15. The rate of interest is linked to Lender's PLR minus 490 basis points (currently applicable rate of interest is 18.10% per annum). Loan repayable within one year is Rs. 1650.000 Millions (Previous year : Rs. 1650.000 Millions). b) Equipment Loan Equipment loans (Secured) taken from NBFCs amounting to Rs.624.224 Millions (Previous year: Rs. 842.962 Millions) are secured against hypothecation of assets financed, pledge of 36,20,830 shares (Previous year: 32,47,830 shares) of the Company held by promoters and personal guarantee of one of the director. These loans are repayable in 8 to 25 monthly installments from the balance sheet date and carries interest in the range of 12.00% to 18.50% per annum. Loans repayable within one year is Rs. 443.828 Millions (Previous year: Rs. 330.722 Millions). c) Vehicle loans Vehicle Loans (Secured) taken from NBFCs amounting to Rs.2.983 Millions (Previous year: Rs. 5.032 Millions) are secured against hypothecation of assets financed i.e., Motor Cars. These loans are repayable in 7 to 21 monthly installments from the balance sheet date and carries interest in the range of 12.00% to 12.63% per annum. Loans repayable within one year is Rs. 2.136 Millions (Previous year: Rs. 2.049 Millions). ii Term Loan from
Banks Vehicle loans Vehicle loans (Secured) taken from banks amounting to Rs.1.352 Millions (Previous year: Rs. 3.233 Millions) are secured against hypothecation of assets financed and personal guarantee of one of the director. These loans are repayable in 2 to 11 monthly installments from the balance sheet date and carries interest in the range of 11.75% to 12.25% per annum. Loans repayable within one year is Rs. 1.352 Millions (Previous year: Rs. 1.863 Millions). |
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Banking
Relations : |
-- |
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Financial Institution : |
· IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R.Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India · Kotak Mahindra Prime Limited, 36-38A, Nariman Bhavan,, 227, Nariman Point, Mumbai - 400021, Maharashtra, India · SREI Equipment Finance Private Limited, 'Vishwakarma', 86c, Topsia Road, Kolkata - 700046, West Bengal, India · Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Habib and Company Chartered Accountants |
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Address : |
75, |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFH1231L |
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Name : |
Khandelwal Jain and Company Chartered Accountants |
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Address : |
6B, Pil Court, 6th Floor, 111, M. K. Road, Mumbai – 400020,
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Income-tax
PAN of auditor or auditor's firm : |
AAAFK0985C |
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Subsidiaries : |
· SRM Sites Private Limited CIN No.: U45202MH2009PTC192761 · Shree Ram Realinfra Ventures Private Limited CIN No.: U45202MH2009PTC194506 · Raghuveer Suburban Infrastructure Private Limited CIN No.: U45202MH2009PTC194471 |
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Enterprise that directly
or indirectly through one or more intermediaries, control, or are controlled
by, or are under common control with the reporting enterprise : |
Akhilesh Developers Private Limited |
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Enterprises over which
key management personnel and their relatives exercise significant influence
where the Company has entered into transactions during the year : |
· Landmarc Leisure Corporation Limited CIN No.: L65990MH1991PLC060535 · S Kumars Online Limited CIN No.: L45400MH1999PLC119875 · Vidhi Holdings Private Limited · Akhilesh Developers Private Limited CIN No.: U45200MH2003PTC142542 · Hanumesh Realtors Private Limited CIN No.:
U45200MH2003PTC142541 · Mandakini Hospitality Private Limited CIN No.: U55101MH2003PTC143621 · Yashaswini Leisure Private Limited CIN No.: U55101MH2003PTC142540 · S.K.M. Real Infra Limited (Formerly Known as SKM Fabrics (Andheri) Limited) · Aura Realtors Private Limited CIN No.: U45202MH2010PTC200332 · Goldmount Advisors · Vasundhara Hospitality Private Limited CIN No.: U55101MH2009PTC193940 · Raghuveer Urban Construction Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98250000 |
Equity Shares |
Rs.10/- each |
Rs. 982.500 Millions |
|
1750000 |
Unclassified Shares |
Rs.10/- each |
Rs. 17.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41134540 |
Equity Shares |
Rs.10/- each |
Rs. 411.345 Millions |
|
|
|
|
|
NOTE:
During the previous year ended 31st December, 2012, the Company has reclassified the Authorised Capital to 98250000 equity shares of Rs. 10 each from 95711120 equity shares of Rs. 10 each, 136877 – 11% Redeemable Cumulative Preference shares of Rs. 100 each and 117011 – 0% Redeemable Preference Shares of Rs. 100 each.
a) Reconciliation of
the shares outstanding at the beginning and at the end of the reporting period
:
|
Equity Shares |
31-Dec-2013 |
|
|
Nos. |
In Millions |
|
|
At the beginning of the year |
41134540 |
411.345 |
|
Outstanding at the end of the year |
41134540 |
411.345 |
b) Terms/rights
attached to equity shares:
i) The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the outstanding equity shares held by the shareholders.
ii) 75,40,400 and 1,29,59,600 equity shares allotted on 15th June 2011 and 29th July 2011 respectively on preferential basis pursuant to exercise of equity warrants are subject to lock-in for a period of three years for the promoters group i.e. 1,60,84,678 equity shares and for the period of one year for other allottees i.e. 44,15,322 equity shares.
c) Details of
shareholders holding more than 5% shares in the company:
|
Equity Shares |
31-Dec-2013 |
|
|
Nos. |
In Millions |
|
|
Equity Shares: |
|
|
|
Akhilesh Develpers Private Limited |
3797830 |
9.23% |
|
Akhilesh Investfin Private Limited |
5273883 |
12.82% |
|
Mandakini Investfin Private Limited |
5084678 |
12.36% |
|
Yashaswini Investments Company Private Limited |
5500000 |
13.37% |
|
Hanumesh Investment Private Limited |
6150848 |
14.95% |
|
Adhir Barter Private Limited |
2215322 |
5.39% |
|
Hakmans Financial Services and Securities Private Limited |
2200000 |
5.35% |
d) Demerger of
Promoter Companies:
i) Akhilesh
Developers Private Limited
Pursuant to scheme of arrangement of demerger between Akhilesh Developers Private Limited and Akhilesh Investfin Private Limited, Akhilesh Developers Private Limited has executed the transfer for 52,73,883 shares on 18.02.2013 and Akhilesh Investfin Private Limited has acquired the shares.
ii) Mandakini
Hospitality Private Limited
Pursuant to scheme of arrangement of demerger between Mandakini Hospitality Private Limited and Mandakini Investfin Private Limited, Mandakini Hospitality Private Limited has executed the transfer for 50,84,678 shares on 18.02.2013 and Mandakini Investfin Private Limited has acquired the shares.
iii) Yashaswini
Leisure Private Limited
Pursuant to scheme of arrangement of demerger between Yashaswini Leisure Private Limited and Yashaswini Investments Company Private Limited, Yashaswini Leisure Private Limited has executed the transfer for 55,00,000 shares on 18.02.2013 and Yashaswini Investments Company Private Limited has acquired the shares.
iv) Hanumesh Realtors
Private Limited
Pursuant to scheme of arrangement of demerger between Hanumesh Realtors Private Limited and Hanumesh Investments Private Limited, Hanumesh Realtors Private Limited has executed the transfer for 61,50,848 shares on 18.02.2013 and Hanumesh Investments Private Limited has acquired the Shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
411.345 |
411.345 |
411.345 |
|
(b) Reserves & Surplus |
2500.399 |
2627.484 |
2536.517 |
|
(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) |
2911.744 |
3038.829 |
2947.862 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
640.199 |
0.000 |
0.000 |
|
(b) Deferred Tax Liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other Long Term
Liabilities |
3137.126 |
437.126 |
437.126 |
|
(d) long-term
Provisions |
2.559 |
2.453 |
2.312 |
|
Total Non-current
Liabilities (3) |
3779.884 |
439.579 |
439.438 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
4583.908 |
6424.626 |
5984.633 |
|
(b) Trade
Payables |
3329.366 |
3247.180 |
1820.945 |
|
(c) Other
Current Liabilities |
5060.526 |
5370.188 |
5262.592 |
|
(d) Short-term
Provisions |
1.271 |
1.353 |
0.411 |
|
Total Current Liabilities
(4) |
12975.071 |
15043.347 |
13068.581 |
|
|
|
|
|
|
TOTAL |
19666.699 |
18521.755 |
16455.881 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
1562.567 |
1689.804 |
1731.192 |
|
(ii)
Intangible Assets |
0.027 |
0.082 |
0.372 |
|
(iii)
Capital Work-in-Progress |
0.000 |
0.000 |
33.756 |
|
(iv)
Intangible assets under Development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1182.396 |
787.051 |
10.200 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.440 |
455.124 |
548.553 |
|
(e) Other
Non-current Assets |
1.154 |
1.060 |
0.000 |
|
Total Non-Current
Assets |
2783.584 |
2933.121 |
2324.073 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
12174.248 |
11117.483 |
8518.435 |
|
(c) Trade
Receivables |
198.001 |
221.284 |
130.072 |
|
(d) Cash
and Cash Equivalents |
46.120 |
62.315 |
207.113 |
|
(e)
Short-term Loans and Advances |
3389.580 |
3444.672 |
4769.676 |
|
(f) Other
Current Assets |
1075.166 |
742.880 |
506.512 |
|
Total
Current Assets |
16883.115 |
15588.634 |
14131.808 |
|
|
|
|
|
|
TOTAL |
19666.699 |
18521.755 |
16455.881 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1744.763 |
2352.049 |
3786.640 |
|
|
|
Other Income |
1.454 |
14.366 |
4.408 |
|
|
|
TOTAL (A) |
1746.217 |
2366.415 |
3791.048 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Constructions (Real
Estate Dev.) |
1731.806 |
2223.030 |
3468.082 |
|
|
|
Purchases of Traded Goods |
0.000 |
0.000 |
239.748 |
|
|
|
Employees Benefits Expense |
2.973 |
3.246 |
6.458 |
|
|
|
Prior Period Items |
40.131 |
0.026 |
0.000 |
|
|
|
Other Expenses |
55.784 |
36.334 |
69.769 |
|
|
|
TOTAL (B) |
1830.694 |
2262.636 |
3784.057 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(84.477) |
103.779 |
6.991 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.261 |
4.173 |
0.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(98.738) |
99.606 |
6.766 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.461 |
0.676 |
0.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(99.199) |
98.930 |
6.025 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.885 |
7.963 |
0.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(127.084) |
90.967 |
6.021 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(49.821) |
(140.788) |
(146.809) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(176.905) |
(49.821) |
(140.788) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
3.947 |
24.092 |
|
|
|
Material |
126.254 |
49.829 |
23.434 |
|
|
|
Stores and Spare Parts |
0.000 |
1.525 |
0.000 |
|
|
TOTAL IMPORTS |
126.254 |
55.301 |
47.526 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.09) |
2.21 |
0.20 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
31.03.2014 |
|
Type |
|
|
1st Quarter |
|
Net Sales |
|
|
128.200 |
|
Total Expenditure |
|
|
710.400 |
|
PBIDT (Excl OI) |
|
|
(582.200) |
|
Other Income |
|
|
0.800 |
|
Operating Profit |
|
|
(581.400) |
|
Interest |
|
|
0.700 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
(582.100) |
|
Depreciation |
|
|
154.400 |
|
Profit Before Tax |
|
|
(736.500) |
|
Tax |
|
|
19.200 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
(755.600) |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
(755.600) |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
(7.28) |
3.84 |
0.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.69) |
4.21 |
0.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.54) |
0.56 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
0.03 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.79 |
2.11 |
2.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.04 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
411.345 |
411.345 |
411.345 |
|
Reserves & Surplus |
2536.517 |
2627.484 |
2500.399 |
|
Net
worth |
2947.862 |
3038.829 |
2911.744 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
640.199 |
|
Short term borrowings |
5984.633 |
6424.626 |
4583.908 |
|
Total
borrowings |
5984.633 |
6424.626 |
5224.107 |
|
Debt/Equity
ratio |
2.030 |
2.114 |
1.794 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3786.640 |
2352.049 |
1744.763 |
|
|
|
(37.886) |
(25.819) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3786.640 |
2352.049 |
1744.763 |
|
Profit |
6.021 |
90.967 |
(127.084) |
|
|
0.16% |
3.87% |
(7.28%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
|
Vehicle Loans |
|
|
|
|
From NBFCs |
0.758 |
0.000 |
NA |
|
|
|
|
|
|
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 |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: SSL/577/2014 Filing
Date: 12/06/2014 |
|
Petitioner: A NAVINCHANDRA STEEL LIMITED
Respondent: M/S. SHREE RAM URBAN INFRASTRUCTURE LIMITED Petn.Adv: M/S. Singhania and Co. (0) District: Mumbai |
|
BENCH: Single STATUS: Pre-Admission Category : MONETARY SUITS |
|
ACT: Code
of Civil Procedure 1908 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10496013 |
30/04/2014 |
2,700,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA |
C03928819 |
|
2 |
10439454 |
09/07/2013 |
568,925.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B80594310 |
|
3 |
10436865 |
18/06/2013 |
541,834.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B79630612 |
|
4 |
10416647 |
15/03/2013 |
50,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B72256837 |
|
5 |
10403603 |
22/01/2013 |
50,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BE |
B68377928 |
|
6 |
10389699 |
22/11/2012 |
85,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BE |
B63232466 |
|
7 |
10389837 |
18/10/2012 |
540,616.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA -
400021, INDIA |
B63275465 |
|
8 |
10378119 |
22/09/2012 |
27,790,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B58733783 |
|
9 |
10367797 |
03/07/2012 |
1,406,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B44452811 |
|
10 |
10367792 |
16/06/2012 |
1,885,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B44471464 |
|
11 |
10367608 |
03/06/2012 |
1,287,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, |
B44548600 |
|
12 |
10352539 |
15/04/2012 |
208,240,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B38525135 |
|
13 |
10352544 |
15/04/2012 |
208,240,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B38527420 |
|
14 |
10339862 |
15/02/2012 |
26,670,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B33990672 |
|
15 |
10339880 |
15/02/2012 |
32,800,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B33998444 |
|
16 |
10336842 |
16/01/2012 |
4,660,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B32664229 |
|
17 |
10336840 |
16/01/2012 |
8,649,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BE |
B32662850 |
|
18 |
10320052 |
22/11/2011 |
3,300,000.00 |
ORIENTAL BANK OF COMMERCE |
PEDDAR ROAD BRANCH, BHAGWAT NIWAS, GROUND FLOOR, OPP. JINDAL MANSION,
PEDDAR ROAD, MUMBAI, MAHARAS |
B26252536 |
|
19 |
10314906 |
15/10/2011 |
11,360,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDI |
B24200628 |
|
20 |
10313994 |
15/09/2011 |
81,777,204.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B23868862 |
|
21 |
10313990 |
15/09/2011 |
323,595,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B23867195 |
|
22 |
10313883 |
31/08/2011 |
1,302,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B23802721 |
|
23 |
10305424 |
15/08/2011 |
1,915,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B20153664 |
|
24 |
10305422 |
15/08/2011 |
2,689,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B20152344 |
|
25 |
10305427 |
15/08/2011 |
7,454,880.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B20154654 |
|
26 |
10299587 |
15/06/2011 |
16,255,434.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B17846890 |
|
27 |
10293228 |
02/06/2011 |
865,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
BHAGWAT NIWAS, PEDDAR ROAD, MUMBAI, MAHARASHTRA - |
B15363757 |
|
28 |
10291396 |
18/02/2011 |
800,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
DELHI, INDIA, DELHI, DELHI - 110001, INDIA |
B10178846 |
|
29 |
10294096 |
18/01/2014 * |
9,300,000,000.00 |
INDIABULLS HOUSING FINANCE LIMITED |
M - 62 & 63, FIRST FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI -
110001, INDIA |
B95225678 |
|
30 |
10300166 |
07/12/2010 |
446,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
DELHI, INDIA, DELHI, DELHI - 110001, INDIA |
B11622578 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Inter-corporate loans from related parties |
105.349 |
73.399 |
|
Total |
105.349 |
73.399 |
|
NOTE The loans taken from related parties are unsecured. These
loans are interest free and repayable on demand. |
||
COMPANY PROFILE
The company is a company incorporated under the Companies Act, 1956 and having its registered office at Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013. The Company is in the business of real estate and listed on the Bombay Stock Exchange, Mumbai.
FINANCIAL HIGHLIGHTS
The Company incurred Loss of Rs. 127.084 Millions as compared to a Profit of Rs. 90.967 Millions in the previous year.
BUSINESS
The Company's project Palais Royale has attained a good standing in terms of technological innovations. However, implementation has been delayed owning to an adverse order passed by the Municipal Commissioner of Mumbai. The Company has gone in Writ Petition against the said order and is hopeful of getting legal redresses soon. Once the project is complete, it will firmly establish the Company in the field of real estate and urban infrastructure development.
MANAGEMENT DISCUSSION
AND ANALYSIS
The poor performance of the real estate markets across the country has also affected the micro market of South Mumbai with a supply exceeding demand. More importantly, the general perception of policy and action paralysis both at the Central and the State have led to a ‘wait and watch’ policy by prospective buyers further impairing the market.
It is expected that with the forthcoming elections in the Center, as well as in the State, the economic situation will improve and over the next 2/3 years, the South Mumbai market will resume its growth trajectory.
CONTINGENT LIABILITIES:
|
PARTICULARS |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
a) Claims against the Company not acknowledged as debts |
95.100 |
60.299 |
|
|
|
|
|
b) Labour Matters: |
|
|
|
i) Pending in court in respect of claims for Retrenchment
Compensation etc. |
1.299 |
1.599 |
|
ii) Pending court cases - 5 (Previous year: 7) in respect
of claims for Back Wages etc. filed by ex-employees of the Company for which
the amount of Contingent Liability is unascertainable. |
||
|
|
|
|
|
c) Income Tax Matters: |
|
|
|
i) Disputed demand of Income Tax for assessment year
2003-04, where the department is in appeal. |
2.325 |
2.325 |
|
ii) Disputed demand of Income Tax for assessment year 2003-04,
where the Company has filed application for rectification. |
10.887 |
10.887 |
|
iii) Disputed demand of Income Tax for assessment year
2004-05, where the department is in appeal. |
12.210 |
12.210 |
|
iv) Disputed demand of Income Tax for assessment year
2004-05, where the Company is in appeal. |
12.946 |
12.946 |
|
v) Disputed demand of Income Tax for assessment year
2005-06, where the department is in appeal. |
87.494 |
87.494 |
|
vi) Disputed demand of Income Tax for assessment year
2007-08, where the Company is in appeal. |
12.175 |
4.359 |
|
vii) Disputed demand of Income Tax for assessment year
2009-10, where the Company is in appeal. |
9.049 |
9.049 |
|
viii) Income tax demand for short deduction of tax at
source and interest thereon for various assessment years, where the Company
is in appeal. |
18.207 |
29.852 |
|
|
|
|
|
d) i) Property Tax disputed with BMC where the Company is
in appeal. |
26.458 |
20.965 |
|
ii) Property Tax disputed with BMC. |
0.000 |
44.382 |
|
iii) Property Tax disputed with BMC where the Company has
filed Complaint. |
3.579 |
2.635 |
|
|
|
|
|
e) Excise Duty demand [Bank guarantee provided for the
same] |
0.339 |
0.339 |
|
|
|
|
|
f) Customs Duty demand [Bank guarantee provided for the
same] |
0.698 |
0.698 |
|
|
|
|
|
g) Bank guarantee |
1.000 |
1.000 |
|
|
|
|
|
h) Dividend in respect of 1,36,877 -11% Redeemable
Cumulative Preference Shares of Face Value of Rs. 100 each. |
12.230 |
12.230 |
|
|
|
|
|
i) Interest liability on VAT |
8.594 |
0.000 |
|
|
|
|
|
j) Interest liability on service tax amounting to Rs.
1,32,56,970 (Previous year : Rs. 1,34,29,366) has not been provided for, as the
matter is pending before the Hon. Supreme Court on writ petition filed by the
Maharashtra Chamber Housing Industry (MCHI) to which the Company is a member,
challenging levy of service tax on real estate business. |
||
|
|
|
|
|
k) Pending court cases - 5 (Previous year: 4) in respect
of other matters against the Company for which the amount of Contingent
Liability is unascertainable. |
||
FIXED ASSETS
Tangible Assets
· Land-Leasehold
· Land-Freehold
· Buildings and Residential
· Building Leasehold Land
· Roads
· Fire Fighting’s Equipments
· Computers and Peripherals
· Office Equipments
· Motor Car
· Air Conditioner
· Furniture and Fixture
· Plant and Machinery
· Printer
· Heavy Earth Moving Machinery
· Motor Buses and Lorries
· Laboratory Equipment
· Temporary Structure
· Office Building
· Electrical Fittings
· Shuttering and Scaffolding
Intangible Assets
· Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.01 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
35 |
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.