MIRA INFORM REPORT
|
Report No. : |
337756 |
|
Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VATIKA HOTELS PRIVATE LIMITED
(w.e.f 23.01.2006) VATIKA HOSPITALITY PRIVATE LIMITED AMALGAMATED WITH VATIKA HOTELS
PRIVATE LIMITED |
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|
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Formerly Known
As : |
IRIS HOTELS PRIVATE LIMITED |
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Registered Office
: |
Flat No. 621 -A,6th Floor, Devika Towers, 6, Nehru Place,
New Delhi - 110019 |
|
Tel. No.: |
91-11-41808208 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.04.2004 |
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Com. Reg. No.: |
55-036387 |
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Capital
Investment / Paid-up Capital : |
Rs.605.100 Million |
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CIN No.: [Company Identification
No.] |
U55101DL2004PTC126079 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABC12522B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of hospitality, facility management and leasing of business centers. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2004
having a moderate track record. The financial position of the company is weak. It is continuously
incurring heavy losses from its operational activities which has fully eroded
its entire net worth Further, the rating also takes into consideration huge borrowings
recorded by the company which further act as a threat to the liquidity
position of the company However, Business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. Note: “VATIKA HOSPITALITY PRIVATE LIMITED” Got Amalgamated with “VATKA
HOTELS PRIVATE LIMITED” w.e.f 101.04.2010 as per Delhi High Court Ordered date
05.10.2011 |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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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/ DENIED BY
Management non-corporative 91-11-39548733
LOCATIONS
|
Registered Office : |
Flat No. 621 -A,6th Floor, Devika Towers, 6, Nehru Place,
New Delhi - 110019 |
|
Tel. No.: |
91-11-41808208 |
|
Fax No.: |
Not Available |
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Email: |
secretarial@vatikagroup.com |
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|
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Branch office : |
Unit No.701, ‘B’ Wing, Supreme Business Park, Sharma Cottage, Behind
Lake Castle, Hirnanandani Gardens, Powai, Mumbai, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Gautam Bhalla |
|
Designation : |
Director |
|
Address : |
No. 4, Hyde Park, Bandh Road, Sultanpur, Mehrauli, New Delhi - 10030, Delhi, India |
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Date of Birth/Age : |
08.05.1978 |
|
Date of Appointment
: |
10.012006 |
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DIN No.: |
00005043 |
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|
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Name : |
Mr. Anil Bhalla |
|
Designation : |
Director |
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Address : |
No. 4, Sultanpur, Mehrauli Gurgaon Road, Mehrauli, New Delhi - 110030, Delhi, India |
|
Date of Birth/Age : |
28.05.1949 |
|
Date of Appointment
: |
29.04.2004 |
|
DIN No.: |
00005049 |
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|
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|
Name : |
Mr. Gaurav Bhalla |
|
Designation : |
Managing director |
|
Address : |
No. 4, Sultanpur, Mehrauli, New Delhi - 110030, Delhi, India |
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Date of Birth/Age : |
05.01.1980 |
|
Date of Appointment
: |
01.042012 |
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DIN No.: |
00005060 |
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Name : |
Mr. Alok Sama |
|
Designation : |
Additional director |
|
Address : |
28, Argyll Road, W8 7bg, Uk, London, W87bg, United Kingdom |
|
Date of Appointment
: |
22.12.2014 |
|
DIN No.: |
01085830 |
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|
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|
Name : |
Mr. Pratik Sethi |
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Designation : |
Alternate director |
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Address : |
A-2/261 [FF], Janak Puri, Near Chanan Devi Hospital, New Delhi - 110058, Delhi, India |
|
Date of Appointment
: |
22.12.2014 |
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DIN No.: |
06588155 |
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Name : |
Mr. Naveen Bakshi |
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Designation : |
Additional director |
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Address : |
327, Officers Campus, Khatipur, Sirsi Road, Jaipur - 302012, Rajasthan, India |
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Date of Appointment
: |
31.03.2015 |
|
DIN No.: |
07033052 |
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|
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Name : |
Mrs. Deepa Sibal |
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Designation : |
Additional director |
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Address : |
84, Hemkunt Colony, First Floor, New Delhi - 110048, Delhi, India |
|
Date of Appointment
: |
31.03.2015 |
|
DIN No.: |
07112357 |
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|
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|
Name : |
Mr. Som Krishna |
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Designation : |
Additional director |
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Address : |
A603, Beaumonde, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Appointment
: |
24.07.2015 |
|
DIN No.: |
07194833 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Dutt Mohla |
|
Designation : |
CFO |
|
Address : |
A 549 Dharam Vihar Plot 2, Dwarka Sector 10, New Delhi - 110075, Delhi, India |
|
Date of Appointment : |
15.06.2015 |
|
PAN No.: |
AGGPM1883R |
|
Name : |
Mr. Vivek Anand |
|
Designation : |
Secretary |
|
Address : |
71-A, Navyug Adarsh Apartment,, F- Block, Vikas Puri, New Delhi - 110018, Delhi, India |
|
Date of Appointment : |
06.08.2014 |
|
PAN No.: |
AJNPA6298G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vatika Limited, India |
|
60509999 |
|
Anil Bhalla |
|
1 |
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|
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|
|
Total |
|
60510000 |
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 : |
Subject is engaged in the business of hospitality, facility management and leasing of business centers. |
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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 : |
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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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Walker Chandiok and Company LLP Chartered Accountants |
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Address : |
L-41 Connuaght Circus New Delhi-110001, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their relatives: |
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Subsidiary company: |
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CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital : Rs. 900.00
Million
Issued, Subscribed & Paid-up Capital : Rs. 673.591 Million
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs. 900.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
60510000 |
Equity Shares |
Rs.10/- each |
Rs. 605.100
Million |
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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 |
|
|
|
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(a) Share Capital |
605.100 |
605.100 |
605.100 |
|
(b) Reserves & Surplus |
(1599.742) |
(1449.092) |
(1183.842) |
|
(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) |
(994.642) |
(843.992) |
(578.742) |
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6253.856 |
6516.331 |
6223.403 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
490.179 |
446.115 |
700.483 |
|
(d) long-term
provisions |
10.633 |
17 .851 |
11.840 |
|
Total Non-current
Liabilities (3) |
6754.668 |
6962.446 |
6935.726 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
307.160 |
323.824 |
303.161 |
|
(b) Trade
payables |
200.028 |
179.737 |
128.952 |
|
(c) Other
current liabilities |
961.711 |
932.489 |
824.963 |
|
(d) Short-term
provisions |
16.385 |
1.309 |
2.101 |
|
Total Current Liabilities
(4) |
1485.284 |
1437.359 |
1259.177 |
|
|
|
|
|
|
TOTAL |
7245.310 |
7573.663 |
7616.161 |
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5473.824 |
5791.468 |
5945.101 |
|
(ii)
Intangible Assets |
9.407 |
6.897 |
7.591 |
|
(iii)
Capital work-in-progress |
201.222 |
36.586 |
46.730 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1018.895 |
1206.195 |
1129.887 |
|
(e) Other
Non-current assets |
0.268 |
5.254 |
0.254 |
|
Total Non-Current
Assets |
6703.716 |
7046.500 |
7129.663 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
98.952 |
78.872 |
115.891 |
|
(c) Trade
receivables |
183.937 |
196.323 |
134.864 |
|
(d) Cash
and cash equivalents |
147.822 |
163.757 |
49.260 |
|
(e)
Short-term loans and advances |
87.846 |
75.670 |
186.466 |
|
(f) Other
current assets |
23.037 |
12.541 |
0.017 |
|
Total
Current Assets |
541.593 |
527.163 |
486.498 |
|
|
|
|
|
|
TOTAL |
7245.310 |
7573.663 |
7616.161 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
TOTAL SALES |
2760.735 |
2505.487 |
2039.149 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
2911.386 |
2770.736 |
2449.299 |
|
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|
PROFIT / (LOSS)
BEFORE TAX |
(150.651) |
(265.249) |
(410.150) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
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|
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|
|
|
PROFIT / (LOSS
)AFTER TAX |
(150.651) |
(265.249) |
(410.150) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2489.68) |
(4383.55) |
(6778.21) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
511.404 |
463.054 |
319.727 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
880.497 |
486.010 |
582.734 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.46) |
(10.59) |
(20.11) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(5.46) |
(10.59) |
(20.11) |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.14) |
(3.52) |
(5.42) |
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.31 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(7.11) |
(8.65) |
(11.83) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.36 |
0.37 |
0.39 |
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 |
605.100 |
605.100 |
605.100 |
|
Reserves & Surplus |
(1183.842) |
(1449.092) |
(1599.742) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(578.742) |
(843.992) |
(994.642) |
|
|
|
|
|
|
long-term borrowings |
6223.403 |
6516.331 |
6253.856 |
|
Short term borrowings |
303.161 |
323.824 |
307.160 |
|
Current maturities of
long-term debts |
319.727 |
463.054 |
511.404 |
|
Total
borrowings |
6846.291 |
7303.209 |
7072.420 |
|
Debt/Equity
ratio |
(11.830) |
(8.653) |
(7.111) |
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 |
2039.149 |
2505.487 |
2760.735 |
|
|
|
22.869 |
10.188 |
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 |
2039.149 |
2505.487 |
2760.735 |
|
Profit |
(410.150) |
(265.249) |
(150.651) |
|
|
(20.11)% |
(10.59)% |
(5.46)% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE AND FUTURE
OUTLOOK
The Directors are pleased to inform that, during the year, the Company has achieved healthy growth in revenue as well as profitability. The Company had a specific focus in growth under its various business streams, namely Business Centers and Facility Management, to create a strong base for future expansion. The Company has finalized to open three new state-of-the-art business centers in Chennai, Delhi and Hyderabad and started fit outs during the year for the same. All three business centers will get operational in 2014-15. Apart from this the company has achieved healthy growth in facility management business segment.
The Hotel 'Westin Gurgaon' has performed exceedingly well since its opening in October 2010 and being able to establish itself as the major hotel in entire Delhi-NCR. The Company plans to start work very soon on its ambitious project 'The Golf Course Beach Resort'on ECR Chennai Pondicherry Road, near Pondicherry. Your Directors feel confident that with such a strong base the Company is going to achieve substantial growth in the ensuing years both in Top and Bottom Line from operation.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term long from banks |
3168.541 |
3144.410 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans banks |
7.000 |
30.933 |
|
Total |
3175.541 |
3175.343 |
|
|
|
|
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10565108 |
30/03/2015 |
1,320,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY
RECLAMATION, H T PAREKH MA |
C51535599 |
|
2 |
10561353 |
24/03/2015 |
3,540,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C50042985 |
|
3 |
10559232 |
26/06/2015 * |
599,400,000.00 |
Oriental Bank of
Commerce |
E Block, First
Floor, Harsha Bhawan,, Connaught P |
C57794729 |
|
4 |
10559227 |
26/06/2015 * |
193,500,000.00 |
Oriental Bank of
Commerce |
E Block, First
Floor, Harsha Bhawan,, Connaught P |
C57795205 |
|
5 |
10564444 |
09/03/2015 |
2,012,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C51283596 |
|
6 |
10547211 |
30/01/2015 |
4,518,786.00 |
DEWAN HOUSING
FINANCE CORPORATION LIMITED |
WARDEN HOUSE 2ND
FLOORSIR P M ROAD, FORT, MUMBAI, |
C42543488 |
|
7 |
10550448 |
29/01/2015 |
556,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C44273290 |
|
8 |
10551094 |
16/01/2015 |
75,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
C44586568 |
|
9 |
10546731 |
08/01/2015 |
1,180,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C42291526 |
|
10 |
10549326 |
26/12/2014 |
1,166,300,000.00 |
BANK OF
MAHARASHTRA |
"Lokmangal"
1501,, Shivajinagar, Pune, Maharashtr |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.99.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
18 |
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.