MIRA
INFORM REPORT
|
Report No. : |
316032 |
|
Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANSAL HOUSING AND CONSTRUCTION LIMITED |
|
|
|
|
Registered
Office : |
15 UGF, Indra Prakash, 21, Barakhamba Road, New
Delhi-110 001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.10.1983 |
|
|
|
|
Com. Reg. No.: |
55-016821 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 594.790 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45201DL1983PLC016821 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged primarily in the business of Real Estate
development and also running Hospitality Business. |
|
|
|
|
No. of Employees
: |
705 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. The company has achieved higher sales turnover but the net
profitability has been decreased during year under review. However, rating
also takes into consideration good net worth and liquidity of the company Trade relations are fair. Payment terms are reported to be regular and
as per commitments. Subject can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India rating |
|
Rating |
Long term rating “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
13.08.2014 |
|
Rating Agency Name |
India rating |
|
Rating |
Short term rating “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
13.08.2014 |
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 PARTED BY
|
Name : |
Mr. Teekaram |
|
Designation : |
Senior P.M. |
|
Contact No.: |
91-120-4195219 |
|
Date : |
03.04.2015 |
LOCATIONS
|
Registered Office/ Head Office/ Corporate Office : |
15 UGF, Indra Prakash, 21 Barakhamba Road, New Delhi –
110001, Delhi, India |
|
Tel. No.: |
91-11-43577100/43577390/43577380 |
|
Mobile No.: |
91-9868268405 (Mr. Teekaram) |
|
Fax No.: |
91-11-43577420 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch office : |
Mumbai Juhu Hill Crest , Flat No. 02, Plot No. 07, Guru Nanak Road No 10, J.V.P.D. Scheme, Juhu, Mumbai -400049, Maharashtra, India Uttar Pradesh Shop No.1 Block No. 22/1.5, Emporium Block, Sanjay Place, Agra-282 002, Uttar Pradesh, India Ansals Emerald Heights, Taj Nagari, Phase-II, Near Fatehabad Road, Agra, Uttar Pradesh, India Ansal Plaza, 2nd Floor, Sector-1, Vaishali, Ghaziabad-201
010, Uttar Pradesh, India Ansals Tanushree, Village Mehrauli, Near Indian Oil Petrol Pump, NH-24, Ghaziabad, Uttar Pradesh, India Ansals Elegance, Aavantika Extn., (Nr. Ansals Chiranjiv Vihar), Ghaziabad, Uttar Pradesh, India FF 112A, Shivam Building, Raj Nagar Distt. Centre, Ghaziabad, Uttar Pradesh, India GNG Towers, 2nd floor, Building No. 10, Sector 44, Near Huda City Centre Metro Station, Ghaziabad-122001, Uttar Pradesh, India C-106, Ist Floor, Metro Plaza, Delhi Road, Meerut, Uttar Pradesh, India Ansal Town Muzaffar Nagar, Ground Floor, opp. Gandhi Polytechnic, Bhopa Road, Muzaffar Nagar, Uttar Pradesh, India R-207, Nehru Enclave, Gomti Nagar, Lucknow-226 010, Uttar Pradesh, India Rajasthan Ansal Town, Sikar Bye Pass Road, Opp. AIT College, Nr.
Dhev Dham Hostel, Ajmer-305 001, Rajasthan. 200 Ft, Rajgarh Road, Near New Sadar Thana, Alwar, Rajasthan. Madhya Pradesh Ansal Green Colony, Near Paragarh Chichli, Kolar Road, Bhopal, Madhya Pradesh, India Ansal Town, Ansal Club Royale, Talawali Chanda, A.B. Road, Indore-453771, Madhya Pradesh, India Jammu
Kashmir Ansals Grace, Adjoining Sector - D, Near Heritage School, Sainik Colony, Srinagar Bypass Road, Jammu-180 011, Jammu and Kashmir, India Punjab Ansal Town, Sector-36, (Adjacent Sector-4), Near Namaste Chowk, Karnal, Haryana, Punjab, India Ansals Herman City, HUDA, Sector – 31, Opp. Sector 2/3, G.T. Road, Kurukshetra, Haryana, Punjab, India 147, Ansal Bachittar Enclave, Bhamia, Chandigarh Road, Village Kuliawal, Ludhiana, Punjab, India SCO-34, Ground Floor, MDC, Sector-5, Swastik Vihar, Panchkula, Haryana. Ansal Town, Opp. Sector-4, Bypass Road, Sector-19, Rewari, Haryana-123401, Punjab, India Ansal Town, SCO-179, Ground Floor, Commercial Belt, Sec-17, HUDA Jagadhari, Yamuna Nagar, Haryana-135003, Punjab, India Ansals Woodbury Apartments, Near PSEB Grid, Nabha - Pabhat Road, Zirakpur, Punjab, India |
|
|
|
|
Overseas : |
A-65, Perth Paradise, Gurugoda, Opposite Bodyline Factory,
Horana Ratanpura Road, Horana, Srilanka |
|
|
|
|
Project office : |
Ansal Plaza, 3rd
Floor, Sector-1, Vaishali, Ghaziabad, Uttar Pradesh, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Deepak Ansal |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/ Age : |
61 Years |
|
Qualification : |
B. Sc. Engg. (Civil) |
|
|
|
|
Name : |
Mr. Sham Lal Chopra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S.L. Kapur |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Khanna |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Maharaj Kishen Trisal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pradeep Anand |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kushagr Ansal |
|
Designation : |
Whole time Director |
|
Date of Birth/ Age : |
35 Years |
|
Qualification : |
B. Com (H) MBA (Finance) |
|
|
|
|
Name : |
Mr. K.K. Singhal |
|
Designation : |
Executive Director |
|
Date of Birth/ Age : |
56 Years |
|
Qualification : |
B. Com (H) FCA |
KEY EXECUTIVES
|
Name : |
Mr. Karun Ansal |
|
Designation : |
President (Projects) |
|
|
|
|
Name : |
Rajesh Katyal |
|
Designation : |
Advisor (Marketing & Business Development) |
|
|
|
|
Name : |
Sanjay Mehta |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Col. P.K. Singhal |
|
Designation : |
V.P. (Services) |
|
|
|
|
Name : |
Tarun Kathuria |
|
Designation : |
V.P. (Finance) |
|
|
|
|
Name : |
Vijay Mahajan |
|
Designation : |
Addl. V.P. (Sales & Accounting) |
|
|
|
|
Name : |
Sabu Thomas |
|
Designation : |
Addl. V.P. (HR & Admn.) |
|
|
|
|
Name : |
S. S. Kaushik |
|
Designation : |
Addl. V.P. (Taxation) |
|
|
|
|
Name : |
S. N. Grover |
|
Designation : |
Addl. V.P. & Company Secretary |
|
|
|
|
Name : |
Mr. Teekaram |
|
Designation : |
Senior P.M. |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
15761734 |
26.54 |
|
|
18382393 |
30.95 |
|
|
34144127 |
57.50 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
34144127 |
57.50 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
7350 |
0.01 |
|
|
3700 |
0.01 |
|
|
11050 |
0.02 |
|
|
|
|
|
|
7958241 |
13.40 |
|
|
|
|
|
|
10102683 |
17.01 |
|
|
6064165 |
10.21 |
|
|
1105562 |
1.86 |
|
|
395622 |
0.67 |
|
|
33 |
0.00 |
|
|
11226 |
0.02 |
|
|
697181 |
1.17 |
|
|
1500 |
0.00 |
|
|
25230651 |
42.49 |
|
Total Public shareholding (B) |
25241701 |
42.50 |
|
Total (A)+(B) |
59385828 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
59385828 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in the business of Real
Estate development and also running Hospitality Business. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
End Users
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
705 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank, Parliament Street, New Delhi, Delhi, India · Axis Bank Limited , Barakhamba Road, Delhi, India · UCO Bank, Connaught place, Delhi, India ·
Punjab National Bank, Rajendra Place, New
Delhi, Delhi, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
Notes : Long Term
Borrowing Term Loan from Bank referred above to the extent of: - Rs. Nil/- (Previous year: Rs.32.999
Million) are secured by way of mortgage of project land owned by the Company
and its subsidiaries situated at Zirakpur and Meerut and hypothecation of
finished goods and receivables of Zirakpur, Meerut and Agra projects. Term Loan from Corporate Bodies referred above to the extent of: - Rs. 600.000 Million (Previous year: Rs.
850.000
Million) are secured by way of mortgage of land/ building owned by the
Company and its subsidiaries situated at Ghaziabad, Mumbai and Agra, mortgage
of land/ premises owned by promoter directors and their families situated at
Gurgaon and Mumbai, pledge of part of promoters shareholding in the Company
and pledge of shares of subsidiary Companies. - Rs. 1912.213 Million (Previous year: Rs.
964.886
Million) are secured by way of mortgage of project land owned by the Company
and its subsidiaries situated at Agra, Indore, Karnal, Meerut and Gurgaon,
mortgage of building situated at Noida, mortgage of premises situated at
Delhi owned by promoter directors and their families, assignment of
receivables of Agra, Indore, Rewari, Karnal, Meerut and certain Gurgaon
projects and pledge of part of promoters shareholding in the Company. - Rs. Nil (Previous year: Rs.
56.250)
Million are secured by way of mortgage of land owned by the Company and its
subsidiaries situated at Yamunanagar location and assignment of receivables
of Yamunanagar Project. - Rs. 109.800 Million (Previous year: Rs.129.800
Million) are secured by way of mortgage of land owned by the Company and its
subsidiaries situated at Jhansi and assignment of receivables of Jhansi
Project. - Rs. 1150.000 Million (Previous year: Rs.
400.000
Million) are secured by way of mortgage of land owned by the Company and its
subsidiaries situated at Gurgaon, assignment of receivables of Gurgaon
Projects and pledge of shares of a subsidiary company and associate company. Short Term
Borrowing Working Capital Loans of Rs. 612.708 Million (Previous year: Rs.756.435 Million from Scheduled Banks are secured by charge over stocks of materials, unsold finished stock, construction work-in-progress, book-debts of the Company and have been guaranteed by promoter directors. |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Financial
Institutions : |
· Housing Development Finance Corporation Limited · SICOM Limited ·
Kotak Mahindra Prime Limited |
|
Auditors : |
|
|
Name : |
M/S Khanna and Annadhanam Chartered Accountants |
|
Address : |
706, Akash Deep, 26A, Barakhamba Road, New Delhi-110 001 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Wholly Owned
Subsidiaries : |
· Geo Connect Limited · Housing and Construction Lanka Private Limited · Maestro Promoters Private Limited · Wrangler Builders Private Limited · Anjuman Buildcon Private Limited · A R Infrastructure Private Limited · A R Paradise Private Limited · Fenny Real Estates Private Limited · Third Eye Media Private Limited · Sunrise Facility Management Private Limited · Aevee Iron and Steel Works Private Limited · Enchant Constructions Private Limited · Rishu Builtech Private Limited · Sonu Buildwell Private Limited · Andri Builders and Developers Private Limited · VS Infratown Private Limited · Cross Bridge Developers Private Limited · Identity Buildtech Private Limited · Shamia Automobiles Private Limited ·
Oriane Developers Private Limited |
|
|
|
|
Associates : |
Optus Corona Developers Private Limited |
|
|
|
|
Enterprise under
the control of Key Management personnel and their relatives : |
· Infinet India Limited · Akash Deep Portfolios Private Limited · Suraj Kumari Charitable Trust · Ansal Club Private Limited · Sungrace Security Services Private Limited · Snow White Cable Network Private Limited · Global Consultant & Designers Private Limited · Glorious Properties Private Limited · Toptrack Infotech Private Limited · Toptrack Real Estate Private Limited · Ansal Land & Housing Private Limited · Shree Satya Sai Construction and Development Private Limited · Ansal Rep (Construction) International Private Limited · Ansal Development Private Limited · Effective Investments Consultants Limited ·
Ansal Land & Housing Private Limited |
|
|
|
|
Enterprises in
which relative of Key Management personnel has significant influence and with
whom transactions have taken place : |
Ansal Buildwell Limited |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,49,90,000 |
Equity Shares |
Rs.10/- each |
Rs.949.900 million |
|
5,01,000 |
Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.50.100 million |
|
|
|
|
Rs.1000.000
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,93,85,828 |
Equity Shares |
Rs.10/- each |
Rs.593.858
million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,49,90,000 |
Equity Shares |
Rs.10/- each |
Rs.949.900 million |
|
5,01,000 |
Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.50.100 million |
|
|
|
|
Rs.1000.000
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,93,85,828 |
Equity Shares |
Rs.10/- each |
Rs.593.858
million |
|
|
Forfeited Shares |
|
Rs.0.931
million |
|
|
|
|
Rs.594.790 million |
Terms/ Rights
attached to equity shares
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.
The dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the ensuing Annual General Meeting. In
the event of liquidation of the Company, the holders of equity shares would be
entitled to receive remaining assets of the Company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
the equity shares held by the shareholders.
The Company has increased its Authorized Share Capital from Rs.500.000
Million to Rs.1000.000 Million by amending the Capital Clause of the
Memorandum of Association of the Company with the consent of the shareholders
by means of Postal Ballot on 2nd April, 2013.
During the year, pursuant to approval accorded by the
Shareholders of the Company vide resolution dated 2nd April, 2013 through
Postal Ballot, the Company has made the allotment of 3,95,90,552 bonus equity
shares on 12th April, 2013 in the ratio of 2:1 (two new bonus equity shares of
Rs. 10/- each for every one existing equity share of Rs. 10/- each held in the
Company) to the eligible shareholders of the Company whose names appeared in
the Register of Members / Beneficial Owners of the Company as on record date
i.e. 12th April, 2013.
Reconciliation of
number of equity shares outstanding at the beginning and at the end of the year
|
Particular |
As on 31.03.2014 (Rs. In Million) |
|
Number of shares outstanding as at the beginning of the
year |
19.795 |
|
Add : Number of shares allotted as fully paid-up bonus
shares during the year |
39.590 |
|
Less : Number
of shares bought back last year but extinguished in current year |
-- |
|
Number of shares extinguished under buy back scheme |
-- |
|
|
59.385 |
Detail of
Shareholder's holding more than 5% shares
|
Particular |
As on 31.03.2014 (Rs. In Million) |
|
|
|
No. of shares |
Percentage |
|
Deepak Ansal |
66,72,870 |
11.24% |
|
Kushagr Ansal |
30,61,368 |
5.16% |
|
Karun Ansal |
30,61,368 |
5.15% |
|
Akashdeep Portfolios Private Limited |
42,94,710 |
7.23% |
|
Glorious Properties Private Limited |
39,29,037 |
6.62% |
|
Global Consultants & Designers Private Limited |
37,40,040 |
6.30% |
|
Snow White Cable Network Private Limited |
32,11,905 |
5.40% |
|
Sungrace Security Services Private Limited |
29,87,424 |
5.03% |
Equity Shares bought
back as per section 77A of Companies Act, 1956 during five years preceding 31st
March, 2014
- 1,78,272 Equity Shares bought back during the financial
year 2011-12
- 3,97,296 Equity Shares bought back during the financial
year 2012-13
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
594.790 |
198.885 |
202.858 |
|
(b) Reserves & Surplus |
3444.984 |
3507.063 |
3197.682 |
|
(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) |
4039.774 |
3705.948 |
3400.540 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3403.082 |
2336.667 |
1292.651 |
|
(b) Deferred tax liabilities
(Net) |
382.148 |
250.583 |
196.441 |
|
(c) Other long term
liabilities |
6.551 |
36.775 |
137.125 |
|
(d) long-term provisions |
12.614 |
11.978 |
7.888 |
|
Total
Non-current Liabilities (3) |
3804.395 |
2636.003 |
1634.105 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1276.004 |
1330.101 |
1323.233 |
|
(b) Trade payables |
1835.387 |
2000.900 |
1775.467 |
|
(c) Other current liabilities |
8146.454 |
7152.515 |
4258.868 |
|
(d) Short-term provisions |
58.895 |
65.293 |
54.229 |
|
Total
Current Liabilities (4) |
11316.740 |
10548.809 |
7411.797 |
|
|
|
|
|
|
TOTAL |
19160.909 |
16890.760 |
12446.442 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
647.939 |
497.826 |
423.426 |
|
(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 |
292.013 |
229.287 |
203.894 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
178.595 |
60.357 |
60.768 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1118.547 |
787.470 |
688.088 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.600 |
0.000 |
0.000 |
|
(b) Inventories |
11881.479 |
11170.369 |
8476.414 |
|
(c) Trade receivables |
1324.176 |
1669.067 |
1208.852 |
|
(d) Cash and cash equivalents |
487.580 |
457.579 |
257.343 |
|
(e) Short-term loans and
advances |
4348.527 |
2806.275 |
1815.745 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
18042.362 |
16103.290 |
11758.354 |
|
|
|
|
|
|
TOTAL |
19160.909 |
16890.760 |
12446.442 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6042.044 |
4276.235 |
4000.100 |
|
|
Other Income |
148.019 |
80.290 |
33.925 |
|
|
TOTAL
(A) |
6190.063 |
4356.525 |
4034.025 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Construction |
4260.555 |
2706.408 |
2503.998 |
|
|
Consumption of Food, Beverages etc. |
34.444 |
38.250 |
37.307 |
|
|
(Increase)/ Decrease in Stocks |
(23.134) |
2.305 |
8.657 |
|
|
Employees benefits expense |
258.340 |
237.728 |
219.225 |
|
|
Other expenses |
521.535 |
359.306 |
363.028 |
|
|
TOTAL
(B) |
5051.740 |
3343.997 |
3132.215 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1138.323 |
1012.528 |
901.810 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
494.624 |
450.859 |
357.478 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
643.699 |
561.669 |
544.332 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
30.370 |
29.673 |
35.569 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
613.329 |
531.996 |
508.763 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
223.139 |
151.855 |
181.215 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
390.190 |
380.141 |
327.548 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
1949.856 |
1688.986 |
1446.868 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax (L) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
1500.000 |
60.000 |
60.000 |
|
|
Proposed dividend on equity
shares |
47.508 |
47.508 |
20.041 |
|
|
Tax on Dividend |
7.184 |
8.074 |
3.251 |
|
|
Transfer to Capital Redemption
Reserve on buy back of Equity Shares |
0.000 |
3.973 |
1.783 |
|
|
Dividend/ Dividend Tax for
Earlier Years |
0.000 |
(0.284) |
0.355 |
|
|
Total
(M) |
1554.692 |
119.271 |
85.430 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
785.354 |
1949.856 |
1688.986 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Project Materials |
0.000 |
1.242 |
1.253 |
|
|
TOTAL
IMPORTS |
0.000 |
1.242 |
1.253 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.57 |
6.40 |
16.37 |
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
Net Sales |
1267.800 |
2672.200 |
1610.200 |
|
Total Expenditure |
1052.400 |
2409.300 |
1427.900 |
|
PBIDT (Excl Ol) |
215.400 |
262.900 |
182.300 |
|
Other Income |
43.700 |
37.800 |
42.00 |
|
Operating Profit |
259.000 |
300.700 |
224.300 |
|
Interest |
100.500 |
84.600 |
130.800 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
158.500 |
216.100 |
93.600 |
|
Depreciation |
9.300 |
8.700 |
8.300 |
|
Profit before tax |
149.200 |
207.400 |
85.300 |
|
Tax |
51.100 |
70.400 |
29.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit after tax |
98.100 |
137.000 |
55.900 |
|
Extraordinary items |
0.000 |
0.000 |
0.000 |
|
Prior period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
98.100 |
137.000 |
55.900 |
|
Equity Capital |
593.900 |
593.900 |
593.900 |
|
Face Value (In Rs.) |
100.00 |
100.000 |
100.000 |
|
Reserves |
0.000 |
0.000 |
0.000 |
|
Calculated EPS |
16.500 |
23.100 |
9.400 |
|
Calculated EPS |
66.100 |
92.300 |
37.600 |
|
No of Public share Holding |
25459401 |
25261794 |
25241701 |
|
% of Public share Holding |
42.87 |
42.54 |
42.50 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.46 |
8.89 |
8.19 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
18.84 |
23.68 |
22.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.25 |
3.19 |
4.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.16 |
0.99 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.53 |
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
202.858 |
198.885 |
594.790 |
|
Reserves & Surplus |
3197.682 |
3507.063 |
3444.984 |
|
Net
worth |
3400.540 |
3705.948 |
4039.774 |
|
|
|
|
|
|
long-term borrowings |
1292.651 |
2336.667 |
3403.082 |
|
Short term borrowings |
1323.233 |
1330.101 |
1276.004 |
|
Total
borrowings |
2615.884 |
3666.768 |
4679.086 |
|
Debt/Equity
ratio |
0.769 |
0.989 |
1.158 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4000.100 |
4276.235 |
6042.044 |
|
|
|
6.903 |
41.294 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4000.100 |
4276.235 |
6042.044 |
|
Profit |
327.548 |
380.141 |
390.190 |
|
|
8.19% |
8.89% |
6.46% |
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Public Deposits |
438.960 |
415.097 |
|
Loan from Corporate Bodies Related Parties |
213.500 |
180.000 |
|
Short Term Borrowing |
|
|
|
Public Deposits |
599.297 |
523.665 |
|
from Corporate Bodies from Related Parties |
64.000 |
50.000 |
|
Total |
1315.757 |
1168.762 |
PERFORMANCE REVIEW The financial year 2013-14 was a drag for the Indian economy with poor macroeconomic conditions. Slowing income growth, sustained weakness in the rupee, sky-rocketing inflation and high borrowing rates combined to make consumers vary of spending. However, an emerging Capitalising on these opportunities, The Company launched 5 new projects during the financial year 2013-14 in order to cater to the ever growing need of housing in small cities as well as big cities like Gurgaon, Haryana, where pace of real estate development is much higher as compared to other parts of the country, as a result of which turnover of The Company went up from Rs. 4356.500 Million during the financial year 2012-13 to Rs. 6190.100 Million in the financial year 2013-14.
BUSINESS REVIEW
Reflecting the
trends of the overall economy, the year was not favourable for the real estate
sector.
The urban
population will surge in the coming years, which, coupled with growth in employment,
education and health care, will push the demand for residential and commercial
space. Further, the urbanisation has been rapid in the past few years, with
‘upwardly-mobile’ buyers keen to invest and reap dividends from the real estate
market growth. Increasing migration to the cities will drive this demand. Also
a rise in sales of housing property is anticipated following the recent stock
market rally and a slew of economy is never short of opportunities and
particularly the residential real estate industry in India, where the shortage
of homes stands at around 19 million units out of which 95% is in the
economically weaker section and low-income group categories. The Indian retail
realty sector is projected to grow at around 15 per cent optimistic RBI rules
to allow foreign banks into the country’s protected banking ecosystem. Steady
housing demand will be a big constant for the Indian economy and the industry
will focus on meeting this demand.
However, the real
estate is burdened with high costs because of which there is little possibility
of reduction in home prices in most micro-markets. Construction cost has
increased by 40% in last three years, while government taxes and premiums have
also gone up substantially. This eliminates any scope for reduced prices,
despite the weak market. Banks’ reluctance to lend to real estate companies has
led to increased cost of borrowing, adding to the overall cost. In fact, these
factors will also result in an increase in prices in improved market conditions.
The housing industry is likely to revive at a faster pace due to formation of a
stable government by a single political party after getting the requisite
majority in the recently concluded general elections of 2014.
The Confederation
of Real Estate Developers’ Associations of India (CREDAI) has identified demand
from tier-II and tier-III cities as an impetus for better real estate
solutions. With rapid land and infrastructure development in smaller cities and
towns, assisted by bank loans, higher earnings and improved standards of
living, housing and construction demand is likely to increase in these cities.
During the period
under report, new Residential and Commercial Projects at Gurgaon, Ajmer, Meerut
and Jhansi were launched by The Company. The company is currently developing /
building various projects at Gurgaon, Agra, Alwar, Ajmer, Meerut, Indore,
Karnal, Yamunanagar, Jammu, Zirakpur, Jhansi, Lucknow, Muzaffarnagar, Rewari,
Shahpur and Ghaziabad. The Company will be soon launching another residential
project in Gurgaon Sector 88A. Construction at year-on-year over the next 3-5
years as estimated by the International Monetary Fund (IMF). Real Estate
Development, once restricted to bigger cities, has shown marked progress in
smaller cities and towns owing to availability of easy bank loans, higher
earnings and improved standard of living. almost all locations is progressing
well and possession of ready units in various projects at Karnal, Yamunanagar,
Zirakpur, Indore, Agra, Meerut, Jammu, Shahpur, NH24 Ghaziabad and Jhansi is
being handed over to customers.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
Industry
Structure, Developments, Opportunities and Threats
Financial Year 2013-14 was a challenging year for India’s Economy with a
second successive year of less than 5% growth in gross domestic product (GDP).
The economy
continues to be constrained by high interest rates and sticky inflation. Global
economic uncertainties have affected India’s economy including the Real Estate
Sector. The India Real Estate Sector plays a significant role in the country’s
economy. This sector is second only to agriculture in terms of employment
generation and contributes heavily towards the GDP.
The government has
introduced many progressive reform measures to unlock the potential of the
sector and also meet increasing demand levels. The stimulus package announced
by the government, coupled with the Reserve Bank of India’s move allowing banks
to provide special treatment to the real estate sector is likely to impact the
Indian real estate sector in a positive way. Further, the reformative measures
expected to be announced in the Union Budget of 2014 are likely to boost the
real estate sector.
SEGMENT-WISE
ANALYSIS
Revenue of the
Company is generated from two segments namely Development of Real Estate and
running of Restaurants (Hospitality). The Hospitality Division is performing
well with a turnover of approx. Rs. 90.100 Million with reasonable profits in
the Financial Year 2013-2014. Total 85 employees are engaged in this Division.
The Division has the Brand mainly “The Great Kabab Factory” which has been
franchised from U Mac Hospitality Private Limited
OUTLOOK
In 2013-14, we saw
subdued interest in real estate due to inflationary pressures and rising
interest rates in India, coupled with the ongoing economic crisis in the
Eurozone and US. GDP growth progressions for the country have been fairly
narrow and revised downwards continually over the last few months, with the
economy expected to grow at an abysmal rate of just 5.5% in 2014-15.
Additionally, disputes related to land acquisition, delays in regulatory
processes and project clearances have weighed down the aggregate demand.
AWARD OF ISO 9001:
2008
The Company continues
to enjoy the privilege of ISO 9001:2008 Certification granted to it on 16th
April, 2005 through well-known certification agency “DET NORSKE VERITAS”. It
will be the constant endeavour of the management to continuously stress on
systems/quality for ultimate delivery of its products.
CONTINGENT
LIABILITIES AND COMMITMENTS
|
Particular |
As on 31.03.2014 (Rs. In Million) |
|
Contingent
Liabilities |
|
|
i) Guarantees |
|
|
- Guarantees given by the Company to Banks/Financial
Institutions against credit facilities extended to third parties. (to the
extent of outstanding Loan amount) |
193.688 |
|
ii) Claims against
the Company not acknowledged as Debts |
|
|
- Income Tax/ Wealth Tax demand being disputed by the Company |
133.779 |
|
- Sales Tax demand being disputed by the Company |
71.144 |
|
- Stamp Duty demand being disputed by the Company |
104.921 |
|
- Service Tax demand being disputed by the Company |
27.131 |
|
- Claims by customers for refund of amount deposited/ Compensation/Interest (to the extent quantifiable) |
93.060 |
|
- Other Claims against the Company not acknowledged as debts |
6.678 |
|
Total |
630.401 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10552932 |
31/01/2015 |
10,100,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C45541778 |
|
2 |
10551750 |
19/01/2015 |
340,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai,
Maharashtra - 400051, INDIA |
C44913689 |
|
3 |
10537802 |
23/12/2014 |
1,000,000,000.00 |
IFCI LIMITED |
IFCI TOWER, 61, NEHRU PLACE,, NEW DELHI, Delhi - |
C37585817 |
|
4 |
10519579 |
28/11/2014 * |
500,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI,
Maharashtra - 400020, INDIA |
C41984055 |
|
5 |
10524819 |
28/08/2014 |
12,973,925.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C28337343 |
|
6 |
10514825 |
08/08/2014 |
280,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI,
Maharashtra - 400020, INDIA |
C16371866 |
|
7 |
10553428 |
23/07/2014 |
5,175,000.00 |
HDB FINANCIAL SERVICES LIMITED |
Radhika, 2nd Floor, Law Garden Road, Navrangpura, Ahmedabad, Gujarat -
380009, INDIA |
C45788882 |
|
8 |
10483208 |
20/02/2014 |
14,512,680.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B98753445 |
|
9 |
10481677 |
29/01/2014 |
12,941,900.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B98129026 |
|
10 |
10476243 |
03/01/2014 |
400,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, Maharashtra
- 400020, INDIA |
B95762092 |
* Date of charge modification
FIXED ASSETS
· Building
· Plant & Machinery
· Furniture & Fixtures
· Vehicles
· Office Equipments
· Air Conditioners and Refrigerators
· Computers
·
Kitchen Equipments
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED
31st DECEMBER 2014
(Rs. in million)
PART I
|
Sr. No. |
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
1 |
Income from
Operations |
|
|
|
|
|
(a) Net
Sales/Income from Operations (Net of excise duty) |
1567.688 |
2627.058 |
5404.382 |
|
|
(b) Other Operating Income |
42.515 |
45.140 |
145.790 |
|
|
Total Income from
Operations (net) |
1610.203 |
2672.198 |
5550.172 |
|
2 |
Expenses |
|
|
|
|
|
(a) (Increase)/ Decrease in Stocks-in-trade and work-in-progress |
-44.539 |
-6.091 |
-50.968 |
|
|
(b) Cost of Construction, Raw Materials and Constructed
Properties |
1274.354 |
2146.711 |
4312.282 |
|
|
(c) Employee benefits expense |
67.598 |
70.645 |
204.646 |
|
|
(d) Depreciation and amortisation expense |
8.261 |
8.666 |
26.224 |
|
|
(e) Other expenses |
130.476 |
198.041 |
423.650 |
|
|
Total Expenses |
1436.150 |
2417.972 |
4915.834 |
|
3 |
Profit / (Loss)
from Operations before other income, finance costs and exceptional items
(1-2) |
174.053 |
254.225 |
634.338 |
|
4 |
Other Income |
42.017 |
37.761 |
123.449 |
|
5 |
Profit / (Loss)
from ordinary activities before finance costs and exceptional items (3-4) |
216.070 |
291.986 |
757.787 |
|
6 |
Finance costs |
130.751 |
84.564 |
315.825 |
|
7 |
Profit / (Loss)
from ordinary activities after finance costs but before exceptional items
(5-6) |
85.320 |
207.422 |
441.962 |
|
8 |
Exceptional Items |
-- |
-- |
-- |
|
9 |
Profit / (Loss) from ordinary activities before tax (7+8) |
85.320 |
207.422 |
441.962 |
|
10 |
Tax Expense |
29.448 |
70.418 |
150.972 |
|
11 |
Net Profit /
(Loss) from ordinary activities after tax (9-10) |
55.872 |
137.004 |
290.990 |
|
12 |
Extraordinary Item (net of tax expenses) |
-- |
-- |
-- |
|
13 |
Net Profit / (Loss) for the period (11-12) |
55.872 |
137.004 |
290.990 |
|
14 |
Paid-up Equity Shares Capital (Face value of Rs.10/- each) |
593.858 |
593.858 |
593.858 |
|
15 |
Reserves excluding Revaluation Reserve as per Balance Sheet of
Previous Year |
9.32 |
9.32 |
9.32 |
|
16i |
Earning Per Shares |
|
|
|
|
|
- Basic and Diluted (in Rupees,
not annualized) |
0.94 |
2.31 |
4.90 |
|
|
|
|
|
|
|
PART II |
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public
shareholding |
|
|
|
|
|
- No of shares |
25241701 |
25261794 |
25241701 |
|
|
- Percentage of shareholding |
42.50% |
43.11% |
42.50% |
|
2 |
Promoters and
promoter group shareholding |
|
|
|
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- No of shares |
20154624 |
20154624 |
20154624 |
|
|
- Percentage of shares (as a % of the total shareholding of promoters
and promoter group |
59.03% |
59.06% |
59.03% |
|
|
- Percentage of shares (as a % of the total share capital of the
company) |
33.94% |
33.94% |
33.94% |
|
|
b) Non-encumbered |
|
|
|
|
|
- No of shares |
13989503 |
13969410 |
13989503 |
|
|
- Percentage of shares (as a % of the total shareholding of promoters
and promoter group |
40.97% |
40.94% |
40.97% |
|
|
- Percentage of shares (as a % of the total share capital of the
company) |
23.56% |
23.52% |
23.56% |
|
B |
INVESTOR
COMPLAINTS |
3
months ended as on 31.12.2014 |
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
Notes :
1.
The statutory
auditors have carried out limited review of the above financial results of the
Company as per Listing Agreement for the quarter ended Dec 31, 2014. These
results have been reviewed by the Audit Committee and approved by the Board of
Directors in its meeting held on February 06, 2015.
2.
The Company is
engaged primarily in the business of Real Estate and also running Hospitality
Business. However, there are no separate reportable segments as per Accounting
Standard 17 dealing with Segment Reporting.
3.
Effective from
April 01, 2014, the Company has revised the useful life of the Assets based on
Schedule II of the Companies Act, 2013. Consequently, the Depreciation for the
Nine months ended December, 2014 is higher by Rs.15.80 lacs. Further an amount
of Rs 117.71 lacs (net of Deferred Tax) has been charged to Retained Earnings
in respect of those assets whose remaining useful life is exhausted as on April
01, 2014.
4.
The result of a
quarter may not be representative of the profits/losses for the year due to the
nature of real estate business wherein profits/losses do not necessarily accrue
evenly over the period.
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.