MIRA INFORM REPORT

 

 

Report No. :

--

Report Date :

12.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ORBITECH REALTORS PRIVATE LIMITED (w.e.f 08.12.2014)

 

 

Formerly Known As :

ORBIT TRACON PRIVATE LIMITED

 

 

Registered Office :

Bunglow No. C-28, Enclave-A, Neelkanth Wood, Mullabaug, Near Tikujini wadi Road, Thane (west), Thane - 400610, Maharashtra

Mobile No.:

91-8450924274

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.02.2008

 

 

Com. Reg. No.:

11-259314

 

 

Capital Investment / Paid-up Capital :

Rs. 0.753 Million

 

 

CIN No.:

[Company Identification No.]

U70102MH2008PTC259314

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Civil contractors and turnkey project operators.

 

 

No. of Employees :

5 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 27000

 

 

Status :

Small company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company established in the year 2008. It is the civil contractors and turkey project operators.

 

For the financial year 2014, the company possesses small scale of business activities. It has minimal sales turnover along with low profit earnings.

 

Further, the company has moderate financial risk profile and small networth position and it has trade payable with no receivables. However, the promoters of the company are young and qualified.

 

Trade relations are fair. Business is active. Payment terms are slow but correct.

 

In view of limited scale of business operations, the company 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.

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

INFORMATION PARTED BY

 

Name :

Mr. Sandip

Designation :

Accounts Heads

Contact No.:

91-8450924274

Date :

10.08.2015

 

 

LOCATIONS

 

Registered Office :

Bunglow No. C-28, Enclave-A, Neelkanth Wood, Mullabaug, Near Tikujini wadi Road, Thane (west), Thane - 400610, Maharashtra

Tel. No.:

Not Available

Mobile No.:

91-8450924274

Fax No.:

Not Available

E-Mail :

dkmeena2003@rediffmail.com

 

 

Corporate Office:

10/11/12/13, 2nd Floor, Lake City Centre, Kapurbawadi Junction, Thane West, Thane, Maharashtra - 400 607

E-Mail :

sihi-thane@gmail.com

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Aditya Chandrakumar Jajodia

Designation :

Director

Address :

SA- 10 TO 13, 2nd  Floor, Lake City Mall, Kapurbawadi Junction, Thane - 400607, Maharashtra, India

Date of Birth/Age :

21.01.1988

Qualification:

MBA Finance

Experience:

5 Years

Date of Appointment :

20.05.2010

DIN No.:

01853884

 

 

Name :

Mr. Vikash Surendrakumar Kejriwal

Designation :

Director

Address :

Sharda Nagar, Amravati, Amravati, 444601, Maharashtra, India

Date of Birth/Age :

12.08.1984

Qualification:

10Years

Experience:

B.Com

Date of Appointment :

19.07.2014

DIN No.:

05266641

 

 

KEY EXECUTIVES

 

Name :

Mr. Sandip

Designation :

Accounts Heads

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Anubhav Land Developers

26300

34.93

Seven  Indian Heads Infrabuild Private Limited, India

49000

65.07

 

 

 

Total

75300

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

Category

Percentage

Bodies corporate

100.00

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Civil contractors and turnkey project operators.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (30,60,90 Days)

 

 

Purchasing :

Cash and Credit (30,60,90 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Vishal Ceramics

Name of the Person :

Mr. Vishal Kanke (Proprietor)

Contact No.:

91-9833809930

Since How Long Known :

7years

Maximum Limit Dealt :

Rs. 2.500 Million (p.a)

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

They are happy with payment Behaviour and market goodwill. No such complaints.

 

Reference :

Nakoda Sanitary

Name of the Person :

Mr. Suraj Bafna (Proprietor)

Contact No.:

91-9221527496

Since How Long Known :

7 Years

Maximum Limit Dealt :

Rs. 4.000 Million (p.a )

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

No Complaint Satisfied with payment behaviour

 

 

Customers :

End Users and OEMs

Reference :

Tirupati Infrabuild Private Limited

Name of the Person :

Mr. Sanjay Narang (VP Sales)

Contact No.:

91-9820259436

Since How Long Known :

5 Years

Maximum Limit Dealt :

Rs. 5.000 Million (p.a)

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

They are very much satisfied with them. There products quality is excellent. Mr. Sanjay Narang was very much happy and satisfied with them.

 

Reference :

Abilasha Shoppers Private Limited

Name of the Person :

Mr. Alakh Vajpayee (VP Sales)

Contact No.:

91-8097791960

Since How Long Known :

7 years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

They are satisfied with their product quality and delivery behaviour. No complaints as such.

 

 

No. of Employees :

5 (Approximately) 

 

 

Bankers :

Bank Name

Axis Bank

Branch

Kapur Wadi Junction, Thane, Maharashtra, India

Person Name (With Designation)

Mr. Rajesh Kumar (Branch Manager)

Contact Number

91-22-21715663

Name of Account Holder

Orbitech Realtors Private Limited

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

7 Years

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Current Account

Account Operation

Not Divulged

Remarks (If any)

No Complaints

 

Bank Name

ICICI Bank

Branch

Vasant Vihar Branch

Person Name (With Designation)

Ms. Maria John (Branch Manager)

Contact Number

91-22-65975500

Name of Account Holder

Orbitech Realtors Private Limited

Account Number

91-92705500115

Account Since (Date/Year of Account Opening)

2011-12 Year

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Current Account

Account Operation

Not Divulged

Remarks (If any)

No Complaints Transactions are fair.

 

 

 

Auditors :

 

Name :

R.J. Rathi and Company

Chartered Accountants

Address :

Mumbai, Maharashtra, India

Auditors :

 

Name :

Banka and Banka

Chartered Accountants

Address :

3rd Floor, Shah Trade Center, Opposite Shah Arcade Sati Marg, Office W.Ex Highway, Malad (East), Mumbai, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFB1145R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Seven Indian Heads Infra Builds Limited

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75500

Equity Shares

Rs.10/- each

Rs. 0.755 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75300

Equity Shares

Rs.10/- each

Rs. 0.753 Million

 

 

 

 

 

 

 

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

0.753

0.753

0.753

(b) Reserves & Surplus

8.976

8.942

7.353

(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)

9.729

9.695

8.106

 

 

 

 

(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

6.503

2.500

7.969

(b) Trade payables

11.492

11.432

0.000

(c) Other current liabilities

6.373

5.514

10.167

(d) Short-term provisions

0.218

0.795

0.000

Total Current Liabilities (4)

24.586

20.241

18.136

 

 

 

 

TOTAL

34.315

29.936

26.242

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.030

0.036

0.044

(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

4.764

0.000

0.000

(c) Deferred tax assets (net)

0.002

0.001

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.250

Total Non-Current Assets

4.796

0.037

0.294

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

23.583

(b) Inventories

21.145

20.627

0.000

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

1.478

0.141

0.353

(e) Short-term loans and advances

6.896

9.131

2.012

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

29.519

29.899

25.948

 

 

 

 

TOTAL

34.315

29.936

26.242

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

TOTALSALES

3.978

7.812

0.000

 

 

 

 

 

Less

TOTAL EXPENSES

0.310

 

 

3.727

5.473

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

Including Expenses and  Depreciation

Including Expenses and  Depreciation

(0.310)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.006

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.251

2.339

(0.316)

 

 

 

 

 

Less

TAX

0.217

0.749

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  

0.034

1.590

(0.316)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 0.45

 21.11

 (4.19)

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

5.000

 

 

The above information has been parted by Mr. Sandip

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

N.A

N.A

N.A

Cash generated from operations

N.A

N.A

N.A

Net cash flow from operating activity

N.A

N.A

N.A

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.85

20.35

N.A

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.85

7.81

(1.20)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

0.24

(0.04)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.67

0.26

0.98

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.20

1.48

1.43

 

 

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

0.753

0.753

0.753

Reserves & Surplus

7.353

8.942

8.976

Net worth

8.106

9.695

9.729

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

7.969

2.500

6.503

Total borrowings

7.969

2.500

6.503

Debt/Equity ratio

0.983

0.258

0.668

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

7.812

3.978

 

(49.078)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

7.812

3.978

Profit

1.590

0.034

 

20.35%

0.85%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN                                                                                                                          (Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

From Related Parties

6.503

2.500

 

 

 

Total

6.503

2.500

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.64.17

UK Pound

1

Rs.99.85

Euro

1

Rs.70.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

27

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.