MIRA INFORM REPORT
|
Report No. : |
354640 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CITY CORPORATION LIMITED |
|
|
|
|
Formerly Known
As : |
CITY DEVELOPERS AND PROMOTERS LIMITED |
|
|
|
|
Registered
Office : |
City Chambers, 917/19A, F.C. Road, Pune – 411004, Maharashtra |
|
Tel. No.: |
91-20-25654555 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 [Partial Details] |
|
|
|
|
Date of
Incorporation : |
09.10.2003 |
|
|
|
|
Com. Reg. No.: |
11-018435 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 371.471 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202PN2003PLC018435 |
|
|
|
|
IEC No.: |
3105006494 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEC05334A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC282OK |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the business of Real Estate Development. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was incorporated in the year 2003 and it is engaged in real
estate development. It is an established company having satisfactory track
record. Rating takes into consideration on company’s sound financial base
marked by favorable profit margin, adequate networth base and decent debt
protection metrics. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Bank facilities = BB [Suspended] |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
July 31, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank facilities = A4+ [Suspended] |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
July 31, 2015 |
Reason for Suspension: Absence of requisite
information.
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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-20-30410000]
LOCATIONS
|
Registered Office : |
City Chambers, 917/19A, F.C. Road, Pune – 411004, Maharashtra,
India |
|
Tel. No.: |
91-20-25654555 |
|
Fax No.: |
91-20-26567555 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Pune Office : |
Amanora Park Town, Hadapsar-Kharadi Bypass, Hadapsar, Pune – 411028, Maharashtra, India |
|
Tel. No.: |
91-20-30570405 |
|
E-Mail : |
DIRECTORS
AS ON 23.09.2014
|
Name : |
Mr. Aniruddha Pradyumna Deshpande |
|
Designation : |
Managing director |
|
Address : |
D-301, 1 Modibaug, Ganeshkhind Road, Near Agriculture College, Shivaji Nagar, Pune - 411016, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1960 |
|
Qualification : |
Graduate |
|
Experience : |
25 Years |
|
Date of Appointment : |
09.10.2003 |
|
PAN No.: |
AAPPD2272A |
|
DIN No.: |
00023026 |
|
|
|
|
Name : |
Mr. Lalitbhai Chunilal Adani |
|
Designation : |
Director |
|
Address : |
3-B, Swapnalok, 47, Nepean Sea Road, Mumbai - 400036, Maharashtra, India |
|
Date of Birth/Age : |
24.02.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
02.06.2005 |
|
DIN No.: |
00014169 |
|
|
|
|
Name : |
Mr. Arunkumar Ramniklal Mehta |
|
Designation : |
Director |
|
Address : |
Cliff, 25-B.G. Kher Marg, Mumbai - 400006, Maharashtra,
India |
|
Date of Birth/Age : |
09.01.1940 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
02.11.2004 |
|
DIN No.: |
00049700 |
|
|
|
|
Name : |
Bimal Jayant Parekh |
|
Designation : |
Director |
|
Address : |
6, Ajanta, L D Ruparel Marg, Malabar Hill, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1960 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
29.10.2004 |
|
DIN No.: |
00060885 |
|
|
|
|
Name : |
Mr. Jayant Hiralal Shah |
|
Designation : |
Director |
|
Address : |
Plot No. 11, Sujay Garden,, 12, Mukundnagar, Pune -
411037, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
22.06.2007 |
|
PAN No.: |
AEGPS3036L |
|
DIN No.: |
00185389 |
|
|
|
|
Name : |
Sona Aniruddha Deshpande |
|
Designation : |
Director |
|
Address : |
D-301, 1 Modibaug, Ganesh Khind Road, Near Agriculture
College, Shivaji Nagar, Pune - 411016, Maharashtra, India |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
00289064 |
|
|
|
|
Name : |
Mr. Jagadish Prabhakar Deshpande |
|
Designation : |
Director |
|
Address : |
B-7, Success Chambers, 1232, Apte Road, Deccan Gymkhana,
Pune - 411004, Maharashtra, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
00398358 |
|
|
|
|
Name : |
Mr. Suhas Khushalchand Lunkad |
|
Designation : |
Director |
|
Address : |
Fl-1002, B-Building, 1 Modibaug,, Ganeshkhind Road, Pune -
411016, Maharashtra, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
00469822 |
KEY EXECUTIVES
|
Name : |
Mrs. Kamaljeet Kaur Kripalsingh Siddhu |
|
Designation : |
Secretary |
|
Address : |
Plot No. C 19, B.U. Bhandari Green, Near Dhanorie Octori
Naka, Dhanorie, Pune - 411015, Maharashtra, India |
|
Date of Birth/Age : |
05.09.1978 |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AEWPR4505D |
|
|
|
|
Name : |
Mr. Aditya Aniruddha Deshpande |
|
Designation : |
Chief Financial Officer |
|
Address : |
D-301, Modibaug, Ganesh Khind Road, Near Agriculture
College, Shivaji Nagar, Pune - 411016, Maharashtra, India |
|
Qualification : |
Business Administration from Symbiosis & Masters in Science (Management) from CASS Business School, London. |
|
Experience : |
4 Years |
|
Date of Appointment : |
01.102014 |
|
PAN No.: |
AILPD3328F |
|
|
|
|
Name : |
Mr. Jaymalhar Bhosale |
|
Designation : |
Chief Operations Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Equity Shareholders |
|
No. of Shares |
|
Aniruddha Deshpande |
|
3590000 |
|
Sona Deshpande |
|
90000 |
|
M. Suresh Exports Private Limited, India |
|
4000000 |
|
Belindia Finance and Investments Private Limited, India |
|
3500304 |
|
Lap Finance and Consultancy Private Limited, India |
|
2560000 |
|
City Holdings Private Limited, India |
|
960000 |
|
Namratta Film Enterprises Private Limited, India |
|
800000 |
|
Jayant Hiralal Shah |
|
2540883 |
|
Boyance Infrastructure Private Limited, India |
|
500000 |
|
Rishikumar Bhansali |
|
470284 |
|
Nilesh Pethani |
|
470588 |
|
Pune Promoters Private Limited, India |
|
2165000 |
|
|
|
|
|
Total |
|
21647059 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Aniruddha Deshpande |
|
1040000 |
|
Belindia Finance and Investments Private Limited, India |
|
3896875 |
|
M. Suresh Exports Private Limited, India |
|
3896875 |
|
Lap Finance and Consultancy Private Limited, India |
|
2209375 |
|
Namratta Film Enterprises Private Limited, India |
|
320000 |
|
City Holdings Private Limited, India |
|
1724375 |
|
Jayant Hiralal Shah |
|
2412500 |
|
|
|
|
|
Total |
|
15500000 |
AS ON 23.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
4.34 |
|
Bodies
corporate |
66.92 |
|
Directors
or relatives of directors |
28.74 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Real Estate Development. [Registered Activity] |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 : |
· Indian Bank Nana Peth, Pune - 411002, Maharashtra, India · The Jalgaon Peoples Co-Op Bank Limited 152, Polan Peth,, Dana Bazar, Jalgaon - 425001, Maharashtra, India ·
State Bank of India ·
Oriental Bank of Commerce ·
ICICI Bank Limited ·
Yes Bank Limited
|
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Auditors : [As on 31.03.2014] |
|
|
Name : |
SPCM and Associates Chartered Accountants |
|
Address : |
207, Nav Maharashtra House, 43, Shaniwar Peth, Pune 411030, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFB8864C |
|
|
|
|
Cost Auditors : [As on 31.03.2015] |
|
|
Name : |
Harshad Shamkant Deshpande Cost Accountant |
|
Address : |
1254, Sadashiv Peth, Pune – 411030, Maharashtra, India |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AHKPD1476C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary company
: [As on 31.03.2014] |
· City Vastu Projects Limited [U45201MH1986PLC039949] · Amanora Hospitality Limited [U55204PN2007PLC130209] · Amanora Park Town Infrastructure Services Limited [U45203PN2007PLC130505] · Amanora Health Care Limited [U85100PN2008PLC132514] · Amanora Future Towers Private Limited [U45200PN2012PTC142417] · Eway Foods and Greenhouses Limited [U01403PN2008PLC132375] · Amanora Entertainment Limited · E-way Agro Products Limited · Amanora Township Management Limited · City Realty & Development Private Limited |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : [As on 31.03.2014] |
· Rosy Blue Securities Private Limited [U65990MH1994PTC080450] · Yashomala Farming & Tourism Private Limited [U01122PN1989PTC054431] · City Holdings Limited [U67120WB1975PLC030175] · B Arunkumar Capital And Credit Services Private Limited [U67120MH1991PTC063321] · Belindia Finance And Investments Private Limited [U65993MH2005PTC152862] · Cheay Investments Private Limited [U65990MH1984PTC032490] · M Suresh Company Private Limited [U36910MH2004PTC149806] · M Suresh Exports Private Limited [U36910MH1991PTC064190] · M.Suresh Jewellery Private Limited [U65920MH1994PTC080302] · Samruddhi Credit Capital Private Limited [U74140MH1995PTC084920] · Priyanka Exports Private Limited [U51900MH1990PTC059517] · Purab Securities Private Limited [U65990MH1996PTC096809] · Lap Finance And Consultancy Private Limited [U67120MH1983PTC030829] · Yess Foundation · City Technology Park Private Limited [U45201PN2005PTC021138] · E Way Developers And Agro Products Private Limited [U01403PN2006PTC129148] · Amanora Knowledge Foundation · City Realty & Development Private Limited [U45209PN2005PTC021147] · Kelzai Secrets Private Limited [U15500PN2007PTC130718] · Unilazer Ventures Private Limited [U99999MH1991PTC062464] · Laadki Trading And Investments Limited [U65990MH1980PLC022273] · Sitara Diamond Private Limited [U51398MH2003PTC138686] · City Instrumentation Private Limited [U31909PN2009PTC133590] · Eway Agro Products Private Limited [U01403PN2008PTC132376] · Shah Mehta Holding Private Limited [U67120MH1994PTC077544] · Cloud 9 E-Biz Private Limited [U72309PN2000PTC015031] · City Promoters & Developers Private Limited [U70102PN2007PTC130799] · Urban life ventures |
CAPITAL STRUCTURE
AS ON 31.03.2015
[PARTIAL DETAILS]
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 371.471 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Million |
|
27,750,000 |
Preference Shares |
Rs. 10/- each |
Rs. 277.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 577.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21,647,059 |
Equity Shares |
Rs. 10/- each |
Rs. 216.471
Million |
|
15,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 155.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 371.471 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
VALUE ADDITION AND DISTRIBUTION
OF EARINGS
|
Particulars |
31.03.2015 (Partial Details) |
|
Share Capital |
371.471 |
|
Reserves and surplus |
3126.740 |
|
Long-term borrowings |
2954.725 |
|
Gross fixed assets |
579.507 |
|
Net fixed assets |
387.934 |
|
Current assets |
8513.327 |
|
Current liabilities |
5099.537 |
|
Net current assets |
3413.790 |
|
Capital employed |
3721.727 |
|
Net worth |
3503.278 |
|
Value added of company |
733.527 |
|
Net revenue from operations of company |
3143.509 |
|
Profit before tax |
442.111 |
|
Particulars |
31.03.2015 (Partial Details) |
|
Gross revenue from operations of company |
3143.509 |
|
Excise and other duties of company |
0.000 |
|
Net revenue from operations of company for value addition |
3143.509 |
|
Export incentives of company |
0.000 |
|
Adjustments in work-in-progress and finished stocks of company |
0.000 |
|
Cost of materials consumed of company |
884.797 |
|
Cost of process materials or chemicals of company |
0.000 |
|
Cost of stores and spares consumed of company |
0.000 |
|
Cost of utilities of company |
87.219 |
|
Cost of other bought out inputs of company |
1437.966 |
|
Total cost of bought out inputs of company |
2409982 |
|
Value added of company |
733.527 |
|
Other incomes of company |
325.253 |
|
Extraordinary income |
0.000 |
|
Earnings available for distribution |
1058.780 |
|
To employees as salaries, wages, retirement benefits and others |
158.066 |
|
To shareholders as dividend |
120.635 |
|
Funds retained by company |
457.488 |
|
To government as taxes |
90.000 |
|
Extraordinary expenses |
0.000 |
|
Other distribution of earnings |
232.591 |
|
Total Distribution
of earnings |
1058.780 |
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 |
371.471 |
371.471 |
371.471 |
|
(b) Reserves & Surplus |
2894.833 |
2778.006 |
2204.561 |
|
(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) |
3266.304 |
3149.477 |
2576.032 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2890.352 |
2925.062 |
2873.802 |
|
(b) Deferred tax liabilities (Net) |
14.590 |
8.518 |
1.550 |
|
(c)
Other long term liabilities |
0.775 |
0.775 |
0.775 |
|
(d)
long-term provisions |
6.993 |
8.176 |
5.866 |
|
Total
Non-current Liabilities (3) |
2912.710 |
2942.531 |
2881.993 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
105.550 |
171.029 |
766.768 |
|
(b)
Trade payables |
2245.143 |
713.688 |
848.033 |
|
(c)
Other current liabilities |
3207.061 |
2030.496 |
2234.685 |
|
(d)
Short-term provisions |
15.154 |
14.846 |
44.482 |
|
Total
Current Liabilities (4) |
5572.908 |
2930.059 |
3893.968 |
|
|
|
|
|
|
TOTAL |
11751.922 |
9022.067 |
9351.993 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
262.266 |
221.217 |
141.920 |
|
(ii)
Intangible Assets |
0.360 |
18.249 |
6.948 |
|
(iii)
Capital work-in-progress |
670.386 |
474.449 |
309.313 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
945.185 |
946.124 |
465.617 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1026.129 |
1268.815 |
1009.906 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2904.326 |
2928.854 |
1933.704 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7857.556 |
5487.360 |
7061.508 |
|
(c)
Trade receivables |
794.138 |
408.469 |
111.512 |
|
(d)
Cash and cash equivalents |
94.240 |
126.855 |
103.728 |
|
(e)
Short-term loans and advances |
100.218 |
65.587 |
138.795 |
|
(f)
Other current assets |
1.444 |
4.942 |
2.746 |
|
Total
Current Assets |
8847.596 |
6093.213 |
7418.289 |
|
|
|
|
|
|
TOTAL |
11751.922 |
9022.067 |
9351.993 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1799.872 |
5055.844 |
2576.044 |
|
|
|
Other Income |
188.920 |
417.643 |
17.171 |
|
|
|
TOTAL (A) |
1988.792 |
5473.487 |
2593.215 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1409.959 |
3918.313 |
2262.186 |
|
|
|
Employees benefits expense |
141.158 |
123.471 |
58.575 |
|
|
|
Other expenses |
83.269 |
102.919 |
78.317 |
|
|
|
TOTAL (B) |
1634.386 |
4144.703 |
2399.078 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
354.406 |
1328.784 |
194.137 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
93.380 |
479.466 |
17.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
261.026 |
849.318 |
176.267 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
39.398 |
25.178 |
18.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
221.628 |
824.140 |
157.689 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
90.294 |
236.284 |
47.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
131.334 |
587.856 |
110.446 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.40 |
26.49 |
4.44 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
216.369 |
97.843 |
385.832 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
243.143 |
1995.913 |
256.383 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.30 |
11.63 |
4.29 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
19.69 |
26.28 |
7.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19 |
10.84 |
1.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.26 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.98 |
1.01 |
1.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
2.08 |
1.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
371.471 |
371.471 |
371.471 |
|
Reserves & Surplus |
2204.561 |
2778.006 |
2894.833 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2576.032 |
3149.477 |
3266.304 |
|
|
|
|
|
|
Long-term borrowings |
2873.802 |
2925.062 |
2890.352 |
|
Short term borrowings |
766.768 |
171.029 |
105.550 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
385.832 |
97.843 |
216.369 |
|
Total
borrowings |
4026.402 |
3193.934 |
3212.271 |
|
Debt/Equity ratio |
1.563 |
1.014 |
0.983 |
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 |
2576.044 |
5055.844 |
1799.872 |
|
|
|
96.264 |
-64.400 |
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 |
2576.044 |
5055.844 |
1799.872 |
|
Profit |
110.446 |
587.856 |
131.334 |
|
|
4.29% |
11.63% |
7.30% |
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 |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 24.12.2014 |
|
Lodging No: AOST/34398/2014 Filing
Date: 24.12.2014 Reg. No.: AO/429/2015 Reg. Date: 01.04.2015 |
|
Petitioner: SHRI DEEPAK SHIVRAM PATARE @ PATH Respondent: CITY CORPORATION LTD Petn. Adv : VIKRAM CHAVAN (I3166)
Resp. Adv.: S.V. PITRE FOR RES. 1 District: PUNE |
|
Bench: SINGLE Status: Pre-Admission
Next Date: 04.04.2016
Stage: AO FOR ADMISSION Coram: ACCORDING TO SITTING LIST Last Date: 11.03.2015
Stage: AO FOR ADMISSION Coram: REGISTRAR(JUDICIAL II [AO]) |
|
Act: C.P.C.- (Interlocutory Order)
UNDER SECTION: 43 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10605217 |
04/11/2015 |
210,000,000.00 |
THE JALGAON
PEOPLES CO-OP BANK LIMITED |
152, POLAN PETH,,
DANA BAZAR, JALGAON, MAHARASHTRA - 425001, INDIA |
C71671416 |
|
2 |
10468416 |
16/12/2013 |
200,000,000.00 |
INDIAN BANK |
613/B, NANA PETH,
PUNE, MAHARASHTRA - 411002, INDIA |
B92813898 |
|
3 |
10451315 |
17/09/2013 |
58,550,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI,
MAHARASHTRA - |
B85849271 |
|
4 |
10402242 |
07/01/2013 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI, MUMBAI,
MAHARASHTRA - |
B67809517 |
|
5 |
10402244 |
07/01/2013 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI,
MAHARASHTRA - |
B67809582 |
|
6 |
10402243 |
14/02/2013 * |
70,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA
- |
B68037019 |
|
7 |
10062130 |
18/03/2014 * |
103,400,000.00 |
INDIAN BANK |
613/B, NANA PETH,
PUNE, MAHARASHTRA - 411002, INDIA |
C00818054 |
* Date of charge modification
CORPORATE INFORMATION
City Corporation Limited (‘the Company ‘or ‘CCL’) develop and built Mega Township at village Sadesatara Nali, Hadapsar, Pune named as “Amanora Park Town”. Amanora qualifies as the first township as per the guidelines of the Government of Maharashtra. It involves the developer creating and maintaining the entire infrastructure of the township.
STATE OF COMPANIES
AFFAIR
The year 2013-14 was not encouraging for the Real estate due to the overall economic slowdown in the country and Pune was not different. Despite of Amanora’s USPs, Political uncertainty, higher interest rate and low liquidity resulted into subdued sales and higher inventory all over the country.
Amanora due to its brand, quality of products and word of mouth publicity by the Citizens already occupying their house, did better than the average real market in Pune. They as Group still booked over 10 lacs sq. ft. (last year 12.5 lacs sq. ft.) and improved price realization by 6% when in general Pune market was stable or discount oriented. Company continued to win awards from the prestigious forums. This financial years’ tally was 22 awards, which included the awards from NDTV, MPCB, CII, CNBC, ASIA PACIFIC PROPERTY. At the time of writing this report Company has tally of total awards of 67. Truly the most awarded Township in the country.
They expect the year 2014-2015 to show some improvements due to the general economic optimism, the Government of India’s concessions to the housing sector, though they are still minor. They plan to develop the new products (Adreno Towers) in higher mid – segment with somewhat larger volume approx. 15 lacs sq.ft. to cater to the improving market situation in the 2nd half of the year 2014-2015.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Ships vessels
·
Office equipment
·
Computer equipments
·
Other equipments
·
Brands and trade marks
·
Licenses and franchise
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. 66.79 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 73.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.