MIRA INFORM REPORT
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Report No. : |
336772 |
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Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
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Name : |
OBEROI MALL LIMITED (w.e.f 13.07.2011) |
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Formerly Known
As : |
OBEROI MALL PRIVATE LIMITED (w.e.f. 26.05.2003) HILLTOP CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
Commerz, 3rd Floor, International Business Park, Oberoi
Garden City, Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra
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Tel. No.: |
91-22-66773333 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.05.2001 |
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Com. Reg. No.: |
11-132119 |
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Capital
Investment / Paid-up Capital : |
Rs.0.900 Million |
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CIN No.: [Company Identification
No.] |
U45202MH2001PLC132119 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO03461D |
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PAN No.: [Permanent Account No.] |
AAACO6944Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged primarily in the business of leasing of immovable property. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. There are no external borrowings recorded by the company during FY
2014. Financial position of the company seems to be sound. Directors are reported to be experienced respectable and resourceful
businessman. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
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 DENIED BY
|
Name : |
Mr. Pragnesh Shah |
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Designation : |
Finance Manager |
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Contact No.: |
91-22-66773333 |
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Date : |
12.08.2015 |
LOCATIONS
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Registered Office : |
Commerz, 3rd Floor, International Business Park, Oberoi Garden
City, Off Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
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Tel. No.: |
91-22-66773333 / 66773513 / 40990824 |
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Fax No.: |
91-22-66773334 / 40990889 |
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E-Mail : |
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Website : |
DIRECTORS
As on 19.08.2014
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Name : |
Bindu Ranvir Oberoi |
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Designation : |
Director |
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Address : |
Plot No.70, 12th N S Road, J V P D Scheme, Juhu, Vile Parle, Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
20.08.1968 |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
00837711 |
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Name : |
Mr. Saumil Ashwin Daru |
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Designation : |
Director |
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Address : |
A-2301, Oberoi Woods, Off Western Express Highway, Goregaon East, Mumbai - 400063, Maharashtra, India |
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Date of Birth/Age : |
04.12.1970 |
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Date of Appointment : |
23.06.2011 |
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DIN No.: |
03533268 |
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Name : |
Mr. Rajendra Manohar Chandorkar |
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Designation : |
Director |
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Address : |
A/503, Khanna Apartment, Near Diamond Garden, Chembur (East), Near Yogi Restaurant, Mumbai - 400071, Maharashtra, India |
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Date of Appointment : |
25.06.2015 |
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DIN No.: |
03626923 |
KEY EXECUTIVES
|
Name : |
Mr. Pragnesh Shah |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 19.08.2014
|
Names of Shareholders |
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No. of Shares |
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Vikas Oberoi |
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5 |
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Oberoi Realty Limited |
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89990 |
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Bindu Oberoi and Oberoi Realty Limited |
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1 |
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Saumil Daru and Oberoi Realty Limited |
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1 |
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Raman Sapru and Oberoi Realty Limited |
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1 |
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Rajendra Chandorkar and Oberoi Realty Limited |
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1 |
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Arunkumar Kotian and Oberoi Realty Limited |
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1 |
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Total |
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90000 |
As on 19.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Bodies corporate |
99.99 |
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Directors or relatives of Directors |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged primarily in the business of leasing of immovable property. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Auditors : |
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Name : |
P. Raj and Company Chartered Accountants |
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Address : |
3/1218, Navjivan Commercial Premises Co-Operative Society Limited, Lamington Road, Mumbai – 400008, Maharashtra, India |
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PAN No.: |
AANFP6200G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Oberoi Realty Limited, India |
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Fellow subsidiary : |
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Entities where key
management personnel have significant influence : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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450000 |
Equity Shares |
Rs.10/- each |
Rs.4.500 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.900 |
0.900 |
0.900 |
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(b) Reserves &
Surplus |
834.285 |
797.117 |
815.950 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
835.185 |
798.017 |
816.850 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
0.615 |
0.553 |
(4.253) |
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(c) Other long term
liabilities |
336.754 |
164.918 |
393.753 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
337.369 |
165.471 |
389.500 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
20.000 |
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(b) Trade payables |
1.758 |
2.950 |
4.380 |
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(c) Other current
liabilities |
329.927 |
478.867 |
218.653 |
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(d) Short-term provisions |
589.023 |
589.023 |
585.134 |
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Total Current Liabilities
(4) |
920.708 |
1070.840 |
828.167 |
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TOTAL |
2093.262 |
2034.328 |
2034.517 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
1299.453 |
1329.587 |
1358.023 |
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(ii) Intangible Assets |
0.067 |
0.117 |
0.275 |
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(iii) Capital
work-in-progress |
2.716 |
1.790 |
0.504 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
3.849 |
4.695 |
1.339 |
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(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current Assets |
1306.085 |
1336.189 |
1360.141 |
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(2) Current assets |
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(a) Current investments |
496.274 |
0.000 |
0.000 |
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(b) Inventories |
0.000 |
0.000 |
0.000 |
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(c) Trade receivables |
27.124 |
38.064 |
41.466 |
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(d) Cash and cash equivalents |
226.698 |
633.311 |
610.463 |
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(e) Short-term loans and
advances |
23.036 |
13.390 |
7.645 |
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(f) Other current assets |
14.045 |
13.374 |
14.802 |
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Total Current Assets |
787.177 |
698.139 |
674.376 |
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TOTAL |
2093.262 |
2034.328 |
2034.517 |
PROFIT & LOSS ACCOUNT
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|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
873.765 |
792.244 |
781.82 |
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Other Income |
44.564 |
38.892 |
32.692 |
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TOTAL |
918.329 |
831.136 |
814.512 |
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Less |
EXPENSES |
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Other expenses |
38.424 |
35.545 |
32.379 |
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TOTAL |
38.424 |
35.545 |
32.379 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
879.905 |
795.591 |
782.133 |
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Less |
FINANCIAL EXPENSES |
0.215 |
0.121 |
0.061 |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
879.690 |
795.470 |
782.072 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
38.727 |
38.834 |
37.87 |
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PROFIT/ (LOSS) BEFORE TAX |
840.963 |
756.636 |
744.202 |
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Less |
TAX |
214.772 |
186.446 |
182.840 |
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PROFIT/ (LOSS) AFTER TAX
|
626.191 |
570.190 |
561.362 |
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IMPORTS |
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Capital Goods |
0.840 |
1.821 |
2.168 |
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TOTAL IMPORTS |
0.840 |
1.821 |
2.168 |
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Earnings / (Loss) Per
Share (Rs.) |
6957.67 |
6335.44 |
6237.35 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Current Maturities of Long term debt |
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Cash generated from operations |
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Net cash flows from (used in) operations |
866.048 |
780.940 |
826.895 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
71.67 |
71.97 |
71.80 |
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Operating Profit Margin (PBDIT / Sales) |
(%) |
100.70 |
100.42 |
100.04 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
40.23 |
37.23 |
36.59 |
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Return on Investment (ROI) (PBT/Networth) |
|
1.01 |
0.95 |
0.91 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.02 |
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Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.65 |
0.81 |
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 |
0.900 |
0.900 |
0.900 |
|
Reserves & Surplus |
815.950 |
797.117 |
834.285 |
|
Net worth |
816.850 |
798.017 |
835.185 |
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|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
20.000 |
0.000 |
0.000 |
|
Total borrowings |
20.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.024 |
0.000 |
0.000 |
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 |
781.820 |
792.244 |
873.765 |
|
|
|
1.333 |
10.290 |
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 |
781.820 |
792.244 |
873.765 |
|
Profit |
561.362 |
570.190 |
626.191 |
|
|
71.80% |
71.97% |
71.67% |
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 |
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3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
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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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
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 three 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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
Registered address has been shifted from the International Business
Park, Oberoi Garden City, off. Western Express Highway, Goregaon (East), Mumbai
– 400063, Maharashtra, India to the present address w.e.f. 21.09.2009
OPERATION
During the period, the company has reported Total Revenue of Rs.918.330 Million as compared to Rs.831.138 Million in the previous year. The Profit before tax stood at Rs. 840.963 Million for the year ended March 31, 2014 as compared to Rs.756.637 Million for the previous year. After deducting expense on account of tax, the Company earned a Net Profit of Rs.626.191 Million for the year under review as compared to Rs.570.191 Million in the previous year ended March 31, 2013.
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay Presentation Date: 21.07.2014 |
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Lodging No. : |
CHSL/1143/2014 |
Failing Date:- |
21.07.2014 |
Reg. No.:- |
CHS/689/2014 |
Reg. Date:- |
30.07.2014 |
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Main Matter |
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Lodging No. : |
EXAL/783/2013 |
Reg. No.:- |
EXA/538/2013 |
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Petitioner:- |
SANDERSON GROUP INDIA PRIVATE LIMITED |
Respondent:- |
BJN HOTELS LIMITED AND OBEROI MALL LIMITED |
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Petn. Adv:- |
--- |
Resp. Adv.: |
I. C. LEGAL (103) |
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District:- |
MUMBAI |
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Bench:- |
SINGLE |
Category:- |
CHAMBER SUMMONS IN EXECUTION |
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Status:- |
Pre-Admission |
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Act. : |
Code Of Civil Procedure 1908 |
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INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.