MIRA INFORM REPORT
|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAIN HOUSING AND CONSTRUCTIONS LIMITED |
|
|
|
|
Registered
Office : |
'High Gate' 8th and 9th Floor, No.82, D.G.S.
Dhinakaran Salai, M.R.C. Nagar Chennai - 600028, Tamilnadu |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
24.10.1994 |
|
|
|
|
Com. Reg. No.: |
18-029036 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1013.577 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201TN1994PLC029036 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ1132H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
The company is engaged in construction activity. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24300000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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|
Comments : |
Subject is an established company having satisfactory track. The rating reflects company’s established market position in real
estate segment supported its sound project pipeline and decent liquidity
position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August 13, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
August 13, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative
Contact No.: 91-44-49494477
LOCATIONS
|
Registered Office
/ Corporate Head Office : |
'High Gate' 8th and 9th Floor, No.82, D.G.S.
Dhinakaran Salai, M.R.C. Nagar Chennai - 600028, Tamilnadu, India |
|
Tel. No.: |
91-44-49494477 / 24613011 |
|
Fax No.: |
91-44-24613077 |
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E-Mail : |
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Website : |
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Market : |
Located At :
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DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sandeepkumar Mehta |
|
Designation : |
Managing director |
|
Address : |
1, F. No. Kgeyes Kaveri Apartments, A B
Mathias, Crescent Street, R A Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
19.11.1967 |
|
Date of Appointment : |
24.10.1994 |
|
DIN No. : |
01302714 |
|
|
|
|
Name : |
Mr. Ashok Kumar Mehta |
|
Designation : |
Director |
|
Address : |
No. 2, Palliappan Lane, Sowcarpet, Chennai
– 600079, Tamilnadu, India |
|
Date of Birth/Age : |
09.01.1946 |
|
Date of Appointment : |
24.10.1994 |
|
DIN No. : |
00649174 |
|
|
|
|
Name : |
Mr. Rajendra Ratanlal Mehta |
|
Designation : |
Whole-time director [ Executive Vice Chairman cum Director] |
|
Address : |
No. 2, Palliappan Lane, Sowcarpet, Chennai
– 600079, Tamilnadu, India |
|
Date of Birth/Age : |
25.08.1953 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No. : |
01468302 |
|
|
|
|
Name : |
Mr. Satish Kumar Mehta |
|
Designation : |
Whole-time director |
|
Address : |
3/9 Harrington Rd, 2nd Ave,, Chetpet,
Chennai - 600031, Tamilnadu, India |
|
Date of Birth/Age : |
17.09.1983 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No. : |
01586301 |
|
|
|
|
Name : |
Mr. Sushilkumar Mehta |
|
Designation : |
Director and Non Executive Director |
|
Address : |
No. 2, Palliappan Lane, Sowcarpet, Chennai
– 600079, Tamilnadu, India |
|
Date of Birth/Age : |
23.06.1969 |
|
Date of Appointment : |
11.12.2007 |
|
DIN No. : |
01970978 |
|
|
|
|
Name : |
Mr. Tirunelveli Nelliappan Vallinayagam |
|
Designation : |
Director [Independent and Non-Executive Director] |
|
Address : |
Sita Nel, 20, Krishna Street, T.Nagar,
Chennai - 600017, Tamilnadu, India |
|
Date of Birth/Age : |
17.05.1939 |
|
Date of Appointment : |
16.08.2007 |
|
DIN No. : |
02031269 |
|
|
|
|
Name : |
Sankaran Ramani |
|
Designation : |
Director [Independent and Non-Executive
Director] |
|
Address : |
No.30, East Avenue, B-4, Keshav Dugar
Apartments, Keshavaperumal Puram, Chennai - 600028, Tamilnadu, India |
|
Date of Birth/Age : |
16.07.1934 |
|
Date of Appointment : |
16.08.2007 |
|
DIN No. : |
00001165 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
Equity Shares
|
|
No. of Shares |
|
Sandeep Kumar Mehta |
33125306 |
|
Ashok Kumar Mehta |
1441300 |
|
Sushil Kumar Mehta |
14408497 |
|
Sanjay Kumar Mehta |
1210090 |
|
Vimala Devi Mehta |
1754900 |
|
Uma Devi Mehta |
1976800 |
|
Sachin Kumar Mehta |
44100 |
|
Ashok Mehta and Bros. |
1105300 |
|
Om Prakash Mehta and Sons |
2739100 |
|
Lalitha Mehta |
1607900 |
|
Sangeetha Mehta |
5899997 |
|
Sushil Kumar Mehta and Sons |
974400 |
|
Sandeep Kumar Mehta and Sons |
70000 |
|
|
|
|
Total |
66357690 |
Preference Shares
|
|
No. of Shares |
|
Sandeep Kumar Mehta |
17500000 |
|
Sangeetha Mehta |
17500000 |
|
Total |
35000000 |
AS ON 30.09.2013
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 : |
The company is engaged in construction activity. |
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Products / Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Financial Institute : |
LIC Housing Finance Limited |
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Auditors : |
|
|
Name : |
Manohar Chowdhry and Associates Chartered Accountants |
|
Address : |
27, Subramaniam Street , Ambiramapuram, Chennai – 600018, Tamilnadu, India |
|
PAN No.: |
AAAFM9052A |
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Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
|
|
|
|
|
Subsidiary Company
: |
Jains and Alliance Palms Venture Private Limited [U45200KA2007PTC042154] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 700.000 Millions |
|
35,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
Total |
|
Rs. 1050.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66,357,690 |
Equity Shares |
Rs.10/- each |
Rs. 663.577 Millions |
|
35,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
Total |
|
Rs. 1013.577 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 |
1013.577 |
663.577 |
663.577 |
|
(b) Reserves & Surplus |
5053.074 |
1537.811 |
1383.880 |
|
(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) |
6066.651 |
2201.388 |
2047.457 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
903.205 |
431.323 |
70.516 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
458.375 |
2901.944 |
2709.115 |
|
(d) long-term provisions |
10.342 |
11.591 |
11.559 |
|
Total
Non-current Liabilities (3) |
1371.922 |
3344.858 |
2791.190 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
91.043 |
19.359 |
32.803 |
|
(b) Trade payables |
112.979 |
107.831 |
59.395 |
|
(c) Other current liabilities |
1277.247 |
392.145 |
412.356 |
|
(d) Short-term provisions |
22.954 |
50.573 |
105.716 |
|
Total
Current Liabilities (4) |
1504.223 |
569.908 |
610.270 |
|
|
|
|
|
|
TOTAL |
8942.796 |
6116.154 |
5448.917 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
331.244 |
48.651 |
24.090 |
|
(ii) Intangible Assets |
1.151 |
1.597 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
13.903 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
104.238 |
104.218 |
2.369 |
|
(c) Deferred tax assets (net) |
2.056 |
1.912 |
2.016 |
|
(d) Long-term Loan and Advances |
1691.020 |
1221.820 |
601.847 |
|
(e) Other Non-current assets |
2742.589 |
1056.715 |
1641.789 |
|
Total
Non-Current Assets |
4872.298 |
2434.913 |
2286.014 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3248.446 |
2967.545 |
2455.653 |
|
(c) Trade receivables |
745.275 |
633.773 |
599.687 |
|
(d) Cash and cash equivalents |
60.416 |
23.000 |
30.479 |
|
(e) Short-term loans and
advances |
16.361 |
56.923 |
77.084 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4070.498 |
3681.241 |
3162.903 |
|
|
|
|
|
|
TOTAL |
8942.796 |
6116.154 |
5448.917 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
720.428 |
979.194 |
923.074 |
|
|
Other Income |
53.279 |
125.738 |
106.638 |
|
|
TOTAL
(A) |
773.707 |
1104.932 |
1029.712 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
421.310 |
520.686 |
0.000 |
|
|
Employees benefits expense |
38.360 |
31.221 |
33.503 |
|
|
Other expenditure |
80.773 |
35.505 |
388.515 |
|
|
TOTAL
(B) |
540.443 |
587.412 |
422.018 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
233.264 |
517.520 |
607.694 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
132.743 |
336.096 |
5.632 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
100.521 |
181.424 |
602.062 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
8.599 |
6.531 |
5.899 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
91.922 |
174.893 |
596.163 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
15.643 |
20.962 |
99.273 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
76.279 |
153.931 |
496.890 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
15.256 |
34.979 |
119.233 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.15 |
2.32 |
7.49 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.86 |
13.93 |
48.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.76 |
17.86 |
64.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.04 |
2.91 |
10.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.08 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.16 |
0.20 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71 |
6.46 |
5.18 |
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 |
663.577 |
663.577 |
1013.577 |
|
Reserves & Surplus |
1383.880 |
1537.811 |
5053.074 |
|
Net
worth |
2047.457 |
2201.388 |
6066.651 |
|
|
|
|
|
|
long-term borrowings |
70.516 |
431.323 |
903.205 |
|
Short term borrowings |
32.803 |
19.359 |
91.043 |
|
Total
borrowings |
103.319 |
450.682 |
994.248 |
|
Debt/Equity
ratio |
0.050 |
0.205 |
0.164 |
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 |
923.074 |
979.194 |
720.428 |
|
|
|
6.080 |
(26.426) |
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 |
923.074 |
979.194 |
720.428 |
|
Profit After Tax |
496.890 |
153.931 |
76.279 |
|
|
53.83% |
15.72% |
10.59% |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---- |
|
26] |
Buyer visit details |
--- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
CHENNAI COURT
|
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10516195 |
24/03/2014 |
750,000,000.00 |
LIC HOUSING
FINANCE LIMITED |
NO.30/1A, ABDUL
RAZACK, 1ST STREET, SAIDAPET, CHE |
C17585662 |
|
2 |
10482933 |
13/02/2014 |
10,000,000.00 |
ADITYA BIRLA
FINANCE LIMITED |
INDIAN RAYON
COMPOUND,, VERAVAL, GUJARAT - 362266, |
B98621667 |
|
3 |
10482927 |
07/02/2014 |
490,000,000.00 |
ADITYA BIRLA
FINANCE LIMITED |
INDIAN RAYON COMPOUND,,
VERAVAL, GUJARAT - 362266, |
B98620339 |
|
4 |
10476513 |
24/12/2013 |
1,500,000,000.00 |
KOTAK MAHINDRA
PRIME LIMITED |
36-38A NARIMAN
BHAVAN,, 227, NARIMAN POINT,, MUMB |
B95903977 |
|
5 |
10450803 |
25/03/2014 * |
700,000,000.00 |
ICICI BANK
LIMITED |
A78, PLOT
NO.3211,, 3RD AVENUE, ANNA NAGAR, CHENN |
C00887398 |
|
6 |
10445031 |
19/08/2013 |
1,500,000,000.00 |
ICICI BANK
LIMITED |
A78, PLOT NO.3211,,
3RD AVENUE, ANNA NAGAR, CHENN |
B83056812 |
|
7 |
10434306 |
28/06/2013 |
450,000,000.00 |
ICICI BANK |
A78, PLOT
NO.3211,, 3RD AVENUE, ANNA NAGAR, CHENN |
B78493681 |
|
8 |
10412961 |
25/03/2014 * |
300,000,000.00 |
ICICI BANK
LIMITED |
LANDMARK RACE
COURCE CIRCLE, ALKAPURI, BARODA, GU |
C00946871 |
|
9 |
10410344 |
06/02/2013 |
750,000,000.00 |
PNB HOUSING
FINANCE LIMITED |
9TH FLOORANTRIKSH
BHAWAN, 22 K G MARG, NEW DELHI, |
B70236922 |
|
10 |
10392660 |
25/06/2014 * |
900,000,000.00 |
THE KARUR VYSYA
BANK LTD |
108/1,
G.N.CHETTY ROAD, T.NAGAR, CHENNAI, TAMIL N |
C12575403 |
* Date of charge modification
BUSINESS OUTLOOK
The real estate sector continued to remain fragile in FY12-13 as the industry is facing the headwinds such as slow rate of approvals, recent regulatory changes, inflation impacting cost structure, declining demand due to increasing prices, etc. New investments projects added in the real estate sector across India slumped by about 58% in the financial year ended March 2013 to Rs. 43,1510.000 Millions from Rs. 1,01,3680.000 Millions during the same period a year ago, according to Centre for Monitoring Indian Economy (CMIE).
The real estate in India is highly fragmented, capital intensive in nature and is yet to receive an Industry status. Further, the sector has close linkages with the economy and therefore is highly cyclical in nature. A typical real estate project has a gestation period of three to four years and any adverse change in the macroeconomic factors in the interim period can affect the cash flows of the developer.
The Company has successfully completed following projects during the financial year
Jains Glen okas
Jains Cedar Point
Jains Sankalp
Jains Spring Meadows
Jains Archway
The Company has undertaken following projects during the financial year
Jains Swadesh
Jains TuffnelPark
Jains Sri Saanvi
Jains Sri Venkateswara
Jains Palm N Meadows
Jains Devasena
Jains Carlton creek
Jains Sulzburg
Jains Sukriti
Jains Surabhi
Jains LA verde Mare A
Jains Cedar Crest
The Company has obtained approval for the following projects during the financial year
Jains Avalon Spring
Ambattur property
Bannerghata Road
Bangalore
Perungudi
FCI- Ganapathy or Vilankurchi- Coimbatore
FIXED ASSETS
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 records 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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.