MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAPPA REALTORS LLP |
|
|
|
|
Registered Office
: |
“Arth Vishwa”, 5 Lane, FP 353, S 26/3/4/4, Koregaon Park, Pune –
411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.09.2010 |
|
|
|
|
Total Obligation of Contribution: |
Rs. 0.100 Million |
|
|
|
|
LLPIN: |
AAA-2326 |
|
|
|
|
Legal Form : |
Limited Liability Partnership. |
|
|
|
|
Line of Business
: |
Subject engaged in developing Commercial Projects. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Limited Liability Partnership Concern having moderate track
record. The concern has achieved a modest revenue and incurred a heavy loss
from its operations. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The Limited Liability Partnership Concern can be considered for
business dealings with some cautions.
|
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 DENIED BY
|
Name : |
Mr. Ashish Bhattad |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-30250700 |
|
Date : |
23.05.2014 |
LOCATIONS
|
Registered Office : |
“Arth Vishwa”, 5 Lane, FP 353, S 26/3/4/4, Koregaon Park, Pune –
411001, Maharashtra, India |
|
Tel. No.: |
91-20-30250700 |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Subhash Sitaram Goel |
|
Designation : |
Designated Partner |
|
Address : |
Sanmahu Commercial Complex, 3rd Floor, B. G. Road, Opposite
Poona Club Camp, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1961 |
|
Date of Appointment : |
05.04.2011 |
|
PAN No.: |
AAWPG2100P |
|
DIN No.: |
01097333 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Designated Partner |
|
Address : |
A-10, Flat No.10, Meera Nagar, Korekaon Park, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
22.09.2010 |
|
PAN No.: |
AAKPJ4693C |
|
DIN No.: |
00158203 |
|
|
|
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 1, Novelty Co-operative Housing Society, Behind Maruti Care
Point, Near Chatursinghi Temple, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
05.04.2011 |
|
Passport No.: |
E3463816 |
|
DIN No.: |
00158212 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Bhattad |
|
Designation : |
Account Manager |
OBLIGATION OF
CONTRIBUTION
|
Names of Persons |
|
Obligation of Contribution (Rs. In Millions) |
|
Subhash Sitaram Goel |
|
0.045 |
|
Marvel Promoters and Developers (Pune) Private Limited, India |
|
0.049 |
|
Marvel Realtors and Developers Limited, India |
|
0.001 |
|
Ganga Housing Private Limited |
|
0.005 |
|
|
|
|
|
Total |
|
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in developing Commercial Projects. |
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
The Ruby, Level 9, North West Wing, Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-24393600 |
|
Fax No.: |
91-22-24393700 |
|
|
|
|
Related Party: |
· Marvel Promoters and Developer (Pune) Private Limited · Marvel Realtors and Developers Limited · Ganga Housing Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Total Obligation of Contribution: Rs. 0.100 Million
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
CONTRIBUTION AND LIABILITIES |
|
|
|
|
(1) Partner’s Funds |
|
|
|
|
(a) Contribution |
0.100 |
0.100 |
0.100 |
|
(b) Partner’s Current Account |
53.779 |
55.575 |
29.050 |
|
(c) Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Total Partner’s Funds (1) + (2) |
53.879 |
55.675 |
29.150 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
29.793 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
52.457 |
13.725 |
0.377 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
82.250 |
13.725 |
0.377 |
|
|
|
|
|
|
TOTAL |
136.129 |
69.400 |
29.527 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.394 |
0.011 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26.008 |
25.130 |
25.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
26.402 |
25.141 |
25.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
98.472 |
43.791 |
4.306 |
|
(c)
Trade receivables |
3.005 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
7.406 |
0.468 |
0.221 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
0.844 |
0.000 |
0.000 |
|
Total
Current Assets |
109.727 |
44.259 |
4.527 |
|
|
|
|
|
|
TOTAL |
136.129 |
69.400 |
29.527 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2.858 |
0.000 |
0.000 |
|
|
|
Other Operating Revenue |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
2.858 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
1.162 |
0.504 |
0.000 |
|
|
|
Selling and Marketing Expenses |
2.651 |
0.126 |
0.000 |
|
|
|
Other Expenses |
7.086 |
1.433 |
0.000 |
|
|
|
TOTAL |
10.899 |
2.063 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(8.041) |
(2.063) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.024 |
0.011 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(8.065) |
(2.074) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.045 |
0.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(8.110) |
(2.087) |
0.000 |
|
|
|
|
|
|
|
|
|
|
LOSS TRANSFERRED
TO PARTNER’S CURRENT ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
Marvel Promoters and Developers (Pune) Private Limited (1%) |
0.081 |
0.021 |
0.000 |
|
|
|
Marvel Promoters and Developers (54%) |
4.379 |
1.127 |
0.000 |
|
|
|
Subhash Goel (40%) |
3.243 |
0.835 |
0.000 |
|
|
|
Ganga Housing Private Limited (5%) |
0.406 |
0.104 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Loss Carried to
Statement of Assets and Liabilities |
0.000 |
0.000 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(283.76) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.96) |
(3.01) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.03) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.55 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
3.22 |
12.01 |
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) |
|
Contribution |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Partner’s Current Account |
29.050 |
55.575 |
53.779 |
|
Net
worth |
29.150 |
55.675 |
53.879 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
29.793 |
|
Total
borrowings |
0.000 |
0.000 |
29.793 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.553 |
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) |
|
Revenue from Operations |
0.000 |
0.000 |
2.858 |
|
|
|
0.000 |
0.000 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operations |
0.000 |
0.000 |
2.858 |
|
Profit Before Tax |
0.000 |
(2.087) |
(8.110) |
|
|
0.000 |
0.000 |
(283.76)% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
No |
BACKGROUND
Kappa Realtors is a Limited Liability Partnership registered under the LLP Act 2008. The LLP is primarily engaged in developing commercial projects and is currently developing. A commercial project named '"Trueno".
Note: No Charges Exist for Company
FIXED ASSETS
· Plant and Machinery
· Furniture and Fixtures
· Computers and Spares
· Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.