MIRA
INFORM REPORT
|
Report No. : |
302086 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
S.B. KHAKAL |
|
|
|
|
Registered
Office : |
Gr. G-1, Devprayag CHS, |
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Country : |
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|
|
|
Financials (as
on) : |
30.09.2014 [Provisional] |
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|
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Year of
Establishment : |
1990 |
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|
|
|
Capital
Investment : |
Rs. 72.660 Millions |
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|
|
PAN No.: [Permanent Account No.] |
ABEPK0747P |
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|
Legal Form : |
Sole Proprietary Concern |
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|
Line of Business
: |
Subject is Government approved Civil Contractors executing Civil Infrastructure
Works like Water Supply, Pipelines, Concrete Roads, Sewerage Works and also
Manufacturer and Selling of Ready Mix Concrete. |
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|
|
|
No. of Employees
: |
33 (14 in Office, 4 in Branch and 15 in Factory) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Subhash B. Khakal |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9930266501/ 9930266503 |
|
Date : |
24.02.2015 |
LOCATIONS
|
Registered Office : |
Gr. G-1, Devprayag CHS, Bhakti Mandir Road, Naupada, Thane (West),
Thane – 400602, Maharashtra, India |
|
Tel. No.: |
91-22-25434077 |
|
Mobile No.: |
91-9930266501/ 9930266503 [Mr. Subhash Khakal] |
|
Fax No.: |
91-22-25377611 |
|
E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Ready Mix
Concrete Plant Quarry No. 10, Survey No. 76, Mahape, Navi Mumbai, Maharashtra, India |
|
E-Mail : |
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|
Location : |
Rented |
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|
|
|
Branch Office : |
Shop No. 4-5, Shanti Mangal Apartment, Rajiv Nagar, Nashik,
Maharashtra, India |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Subhash Bhaginath Khakal |
|
Designation : |
Proprietor |
|
Address : |
E-501, Sitavihar, Damani Estate, LBS Marg, Naupada, Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
01.02.1957 |
|
Qualification : |
B. Sc. |
|
Experience : |
35 Years |
|
PAN No.: |
ABEPK0747P |
BUSINESS DETAILS
|
Line of Business : |
Subject is Government approved Civil Contractors executing Civil
Infrastructure Works like Water Supply, Pipelines, Concrete Roads, Sewerage
Works and also Manufacturer and Selling of Ready Mix Concrete. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Credit [60 Days] |
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Purchasing : |
Credit [60 Days] |
PRODUCTION STATUS
|
Products |
Actual
Production |
|
Manufacture of Ready Mix Concrete |
Avg 75 cum/ day |
GENERAL INFORMATION
|
Suppliers : |
· Noble Enterprises Address: 6, Zaver Apartment,
Zaver Road, Mulund [West], Mumbai – 400080, Maharashtra, India Contact No.: 91-22-25617361 Contact Person: Mr. Rajesh Shah
[91-9821097732] · Durga Engineering Co. Address: Ichapur Roadm
Canal Side, Satarangachi, Howrah, West Bengal, India Contact No.: 91-22-26778088 Contact Person: Mr. Mayank Dube
[91-9324515987] ·
SMC Infrastructure Private Limited, Thane Address: 2nd
Floor, Aakruti SMC, Khopat, Thane, Maharashtra, India Contact No.: 91-22-25376700 Contact Person: Mr. Suhas Mehta
[91-9892575689] · Balaji Engineers Halurkar Construction Private Limited Rohan Enterprises Rohit Construction Sagar Construction Prajwal Engineer Satya Construction |
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Customers : |
End Users and Own Civil Projects
· Mumbai Metro One Private Limited, Mumbai Contact Person: Mr. Modgil Contact No.: 91-9323614726 · Thane Municipal Corporation, Thane Contact Person: Mr. Papalkar Contact No.: 91-9619846505 · Pimpri Chinchwad Municipal Corporation, Nashik Contact Person: Mr. M.A. Pirjare
Contact No.: 91-9922501703 · SMC Infrastructure Private Limited, Thane Contact Person: Mr. S.N. Mehta Contact No.: 91-9892575789 |
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No. of Employees : |
33 (14 in Office, 4 in Branch and 15 in Factory) (Approximately) |
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Bankers : |
· Oriental Bank of Commerce Waghale Branch, Thane, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.V. Mohite and Associates Chartered Accountants |
|
Address : |
3rd Floor, Mangalmurti, Near Vandan Theatre, Ram Mandir
Road, Thane, Maharashtra, India |
|
Tel. No.: |
91-22-25412689 |
|
|
|
|
Associates/Subsidiaries : |
· SBK Civil Project Private Limited Address: Shop No. 2,
Deoprayag CHS, Bhaktimandir Road, Naupada, Thane, Maharashtra, India · Hitech Concrete Address: Quarry No. 10,
Survey No. 76, Mahape, Navi Mumbai, Maharashtra, India Activity: RMC (Ready Mix
Concrete) |
CAPITAL STRUCTURE
AS ON 30.09.2014 [PROVISIONAL]
|
PARTICULARS |
RS. IN MILLIONS |
|
CAPITAL ACCOUNT S.B. KHAKAL |
|
|
Opening Balance S.B. Khakal Capital Account |
62.598 |
|
Add: Profit as per Provisional Profit and
Loss Account |
21.458 |
|
TDS from Bills and Advance Tax |
(3.441) |
|
Drawings |
(7.955) |
|
|
|
|
Total |
72.660 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2014 [Provisional] |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Proprietor Capital |
72.660 |
62.598 |
43.957 |
19.908 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Profit and Loss Account |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
72.660 |
62.598 |
43.957 |
19.908 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
22.919 |
19.071 |
39.853 |
26.378 |
|
|
2] Unsecured Loans |
9.314 |
6.096 |
2.087 |
2.337 |
|
|
TOTAL BORROWING |
32.233 |
25.167 |
41.940 |
28.715 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
104.893 |
87.765 |
85.897 |
48.623 |
|
|
|
|
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|
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APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.132 |
35.613 |
37.972 |
38.077 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.446 |
0.446 |
0.446 |
0.446 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
23.322
|
23.701
|
15.982 |
7.012 |
|
|
Sundry Debtors |
58.595
|
98.099
|
52.537 |
29.040 |
|
|
Cash & Bank Balances |
10.812
|
0.447
|
0.919 |
0.337 |
|
|
Other Current Assets |
12.138
|
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.472
|
30.123
|
26.760 |
16.688 |
|
Total
Current Assets |
119.339
|
152.370
|
96.198 |
53.077 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
46.862
|
|
|
|
|
|
Other Current Liabilities |
1.162
|
|
|
|
|
|
Provisions |
0.000
|
|
|
|
|
Total
Current Liabilities |
48.024
|
100.664
|
48.719 |
42.977 |
|
|
Net Current Assets |
71.315
|
51.706
|
47.479 |
10.100 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
104.893 |
87.765 |
85.897 |
48.623 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
30.09.2014 (Provisional) |
|
|
|
SALES |
|
|
|
|
|
|
|
Works Executed |
|
|
186.106 |
|
|
|
Other Income |
|
|
2.537 |
|
|
|
TOTAL |
|
|
188.643 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
|
|
150.330 |
|
|
|
Contract
Expenses VAT (Expenses) |
|
|
3.483 |
|
|
|
Cess |
|
|
1.223 |
|
|
|
Fuel for Machinery |
|
|
0.921 |
|
|
|
Insurance Charges |
|
|
0.238 |
|
|
|
Octroi and Freight Charges |
|
|
0.055 |
|
|
|
Site Expenditure |
|
|
0.110 |
|
|
|
Security Charges |
|
|
0.004 |
|
|
|
Tech. Consultancy Charges |
|
|
0.605 |
|
|
|
Tender Fees |
|
|
0.619 |
|
|
|
Water Charges |
|
|
0.022 |
|
|
|
Welfare Tax 0.21% |
|
|
0.013 |
|
|
|
Administrative
Expenses Miscellaneous Expenses |
|
|
0.688 |
|
|
|
Society Charges |
|
|
0.088 |
|
|
|
Telephone, Mobile Expense and Internet |
|
|
0.087 |
|
|
|
Administration Expenses |
|
|
0.063 |
|
|
|
Electricity Charges |
|
|
0.082 |
|
|
|
Employees Cost |
|
|
2.269 |
|
|
|
Rates and Taxes |
|
|
1.110 |
|
|
|
Repair and Maintenance |
|
|
0.174 |
|
|
|
Other Recovery from Bills |
|
|
0.144 |
|
|
|
Service Tax Paid |
|
|
0.265 |
|
|
|
Property Tax – Solapur Building |
|
|
0.067 |
|
|
|
Other Expenses |
|
|
0.159 |
|
|
|
TOTAL |
|
|
162.819 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, DEPRECIATION AND AMORTISATION |
|
|
25.824 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
1.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
|
|
23.938 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
2.480 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
21.458 |
|
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Works Executed |
352.693 |
250.921 |
274.752 |
|
|
|
Other Income |
1.526 |
3.994 |
0.788 |
|
|
|
TOTAL |
354.219 |
254.915 |
275.540 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
109.009 |
96.422 |
104.029 |
|
|
|
Contract Expenses |
201.527 |
120.677 |
120.689 |
|
|
|
Administrative Expenses |
15.122 |
14.344 |
15.540 |
|
|
|
TOTAL |
325.658 |
231.443 |
240.258 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, DEPRECIATION AND AMORTISATION |
28.561 |
23.472 |
35.282 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.407 |
5.796 |
4.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
23.154 |
17.676 |
30.870 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.802 |
6.265 |
4.353 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
17.352 |
11.411 |
26.517 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2014 (Provisional) |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
11.37
|
4.90
|
4.48 |
9.62 |
|
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.88
|
8.10
|
9.35 |
12.84 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.07
|
9.23
|
8.50 |
29.09 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.28
|
0.26 |
1.33 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.44
|
0.40
|
0.95 |
1.44 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
1.51
|
1.97 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Proprietor Capital |
19.908 |
43.957 |
62.598 |
|
Profit and Loss Account |
0.000 |
0.000 |
0.000 |
|
Net
worth |
19.908 |
43.957 |
62.598 |
|
|
|
|
|
|
Secured Loans |
26.378 |
39.853 |
19.071 |
|
Unsecured Loans |
2.337 |
2.087 |
6.096 |
|
Total
borrowings |
28.715 |
41.940 |
25.167 |
|
Debt/Equity ratio |
1.442 |
0.954 |
0.402 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Works Executed |
274.752 |
250.921 |
352.693 |
|
|
|
-8.674 |
40.559 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Works Executed |
274.752 |
250.921 |
352.693 |
|
Net Profit |
26.517 |
11.411 |
17.352 |
|
|
9.65% |
4.55% |
4.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years and six months |
Yes |
|
12] |
Profitability for last
three years and six months |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
Yes |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
A.S. Mohile |
0.286 |
0.287 |
|
Jaishree P. Shah |
0.250 |
0.250 |
|
Jitendra H. Shah (HUF) |
0.000 |
0.250 |
|
K.E. Infrastructure Private Limited |
1.460 |
0.000 |
|
Prakash Mote |
0.100 |
0.000 |
|
Zakira Shaikh |
3.500 |
0.000 |
|
S.S. Abhyankar |
0.500 |
0.500 |
|
Prajwal Engineers |
0.000 |
0.300 |
|
Nitin Enterprises |
0.000 |
0.500 |
|
|
|
|
|
Total |
6.096 |
2.087 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
MR. SUBHASH BHAGINATH KHAKAL
(RS. IN MILLIONS)
|
PARTICULARS |
2013-2014 |
||
|
INCOME FROM HOUSE PROPERTY |
|
|
|
|
Let-out Properties |
|
|
|
|
Property 1: Shop No. 2, Aakruti Elegance,
Tenant – Dr. Manasi Sawant |
|
|
|
|
Rent received |
|
0.237 |
|
|
|
|
------------- |
|
|
Gross Annual Value |
|
0.237 |
|
|
Less: Municipal Taxes |
|
0.000 |
|
|
|
|
------------- |
|
|
Net Annual Value |
|
0.237 |
|
|
Less: Standard deduction u/s 24(a) |
|
0.071 |
|
|
|
|
------------- |
|
|
Net Income from Property 1 |
|
0.166 |
|
|
|
|
|
|
|
Income chargeable under the head “House Property” |
|
|
0.166 |
|
|
|
|
|
|
PROFITS AND GAINS OF BUSINESS OR PROFESSION |
|
|
|
|
Partnership Firm Income SMC SBK JV |
|
0.000 |
|
|
Partnership Firm Income SBK SDB JV |
|
0.000 |
|
|
|
|
------------- |
|
|
Business 1 |
|
|
|
|
Net Profit before Tax as per P & L A/c |
|
17.352 |
|
|
|
|
|
|
|
Add: Inadmissible expenses and Income nor
included |
|
|
|
|
Depreciation debited to P & L A/c |
5.802 |
|
|
|
Other additions |
0.010 |
5.812 |
|
|
|
|
------------- |
|
|
|
|
23.164 |
|
|
|
|
|
|
|
Less: Deductible expenditure and income to
be excluded |
|
|
|
|
Incomes considered separately |
|
0.004 |
|
|
|
|
------------- |
|
|
Adjusted Profit from Business 1 |
|
23.160 |
|
|
|
|
|
|
|
Total Income from Business and Profession |
|
23.160 |
|
|
Less: Depreciation as per IT Act |
|
6.133 |
|
|
|
|
------------- |
|
|
Income chargeable under the head “Business and Profession” |
|
|
17.027 |
|
|
|
|
|
|
CAPITAL GAINS |
|
|
|
|
Short term gain u/s 111A / LTCG exempt u/s
10(38) |
|
0.088 |
|
|
|
|
------------- |
|
|
Income chargeable under the head “Capital Gains” |
|
|
0.088 |
|
|
|
|
|
|
INCOME FROM OTHER SOURCES |
|
|
|
|
Bank Interest |
|
0.039 |
|
|
Dividends exempt u/s 10()34 |
|
0.000 |
|
|
Compensation received on surrender of
investment |
|
1.925 |
|
|
|
|
------------- |
|
|
Income chargeable under the head Other Sources“ |
|
|
1.964 |
|
|
|
|
------------- |
|
GROSS TOTAL INCOME |
|
|
19.245 |
|
|
|
|
|
|
Deductions under Chapter VI-A |
|
|
|
|
80D Mediclaim Policy |
|
0.015 |
|
|
80G Donations |
|
0.049 |
|
|
80TTA Interest on Saving Bank Account |
|
0.010 |
|
|
Investment u/s 80C, CCC, CCD |
|
|
|
|
Life Insurance Premium |
0.735 |
|
|
|
Total Investment – subject to calling u/s
80CCE |
|
0.100 |
0.174 |
|
|
|
------------- |
------------- |
|
TOTAL INCOME |
|
|
19.071 |
|
|
|
|
|
|
Total Income rounded off u/s 288A |
|
|
19.071 |
|
|
|
|
|
|
Tax on Total Income |
|
|
5.538 |
|
Add: Surcharge |
|
|
0.554 |
|
|
|
|
------------- |
|
Tax with Surcharge |
|
|
6.092 |
|
|
|
|
|
|
Add: Education cess |
|
|
0.182 |
|
|
|
|
------------- |
|
Tax with surcharge and cess |
|
|
6.274 |
|
|
|
|
|
|
Net Tax |
|
|
6.274 |
|
|
|
|
|
|
TDS |
|
6.523 |
|
|
|
|
|
|
|
Total Prepaid Taxes |
|
|
6.523 |
|
|
|
|
------------- |
|
REFUND DUE |
|
|
0.249 |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
|
|
|
|
Operating Sector |
|
|
|
Net Sales |
400.000 |
500.000 |
|
|
|
|
|
Debtors [Trade] |
9.401 |
17.500 |
|
|
|
|
|
Cash from Sales |
390.599 |
482.500 |
|
|
|
|
|
Costs – Interest and Finance Charges |
6.500 |
10.000 |
|
|
|
|
|
Expenses on Stocks Purchases |
130.000 |
160.000 |
|
|
|
|
|
Trade Creditors |
22.069 |
(15.000) |
|
|
|
|
|
Manufacturing Expenses |
220.500 |
275.000 |
|
|
|
|
|
Cash Cost of Sales |
379.069 |
430.000 |
|
|
|
|
|
Expenses for increase/ decrease in stocks |
0.000 |
0.000 |
|
|
|
|
|
Cash from Assets Conversion Cycle |
11.530 |
52.500 |
|
|
|
|
|
Selling, General and Adm. Expenses |
15.000 |
20.000 |
|
|
|
|
|
Advance Payments |
0.000 |
0.000 |
|
|
|
|
|
Advances received |
0.000 |
0.000 |
|
|
|
|
|
Taxation |
0.000 |
0.000 |
|
|
|
|
|
Dividends |
0.000 |
0.000 |
|
|
|
|
|
Cash from Operations |
(3.470) |
32.500 |
|
|
|
|
|
Other Current Assets |
(15.989) |
0.000 |
|
|
|
|
|
Other Current Liabilities |
9.595 |
(1.000) |
|
|
|
|
|
Other Income/ Expenses [Net] |
(1.300) |
(1.300) |
|
|
|
|
|
Net Cash from Operations |
4.224 |
34.800 |
|
|
|
|
|
Investment Sector |
|
|
|
Capital Expenditure |
9.885 |
15.252 |
|
|
|
|
|
Investment in Group Companies |
0.000 |
0.000 |
|
|
|
|
|
Intangible / Other Term Assets |
0.000 |
0.000 |
|
|
|
|
|
Cash before Funding |
(5.661) |
19.548 |
|
|
|
|
|
Financing Sector |
|
|
|
Dues to Banks |
11.402 |
5.000 |
|
|
|
|
|
Short term debts |
0.000 |
0.000 |
|
|
|
|
|
Term Debts |
2.930 |
(4.000) |
|
|
|
|
|
Equity |
5.000 |
7.852 |
|
|
|
|
|
Other Loans and Reserves |
(17.352) |
(25.899) |
|
|
|
|
|
Total |
1.980 |
(17.047) |
|
|
|
|
|
Movement in Cash Assets |
(3.681) |
2.501 |
|
|
|
|
|
Cash and bank Balance |
0.278 |
0.001 |
|
|
|
|
|
Investment [Other than Long Term] |
(3.959) |
2.500 |
|
|
|
|
|
Movement in Cash Assets |
(3.681) |
2.501 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
SALES |
|
|
|
1. Domestic Sales |
400.000 |
500.000 |
|
|
|
|
|
2. Export Sales |
0.000 |
0.000 |
|
|
|
|
|
Gross Sales |
400.000 |
500.000 |
|
|
|
|
|
Less: Excise Duty/ Sales Tax |
0.000 |
0.000 |
|
|
|
|
|
Add: Other Operating Income |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
400.000 |
500.000 |
|
|
|
|
|
Increase in Net Sales % |
13.41 |
25.00 |
|
|
|
|
|
Cost of Sales |
|
|
|
1. Raw Materials |
130.000 |
160.000 |
|
Imported |
0.000 |
0.000 |
|
Indigenous
|
130.000 |
160.000 |
|
|
|
|
|
2. Other Spares |
0.000 |
0.000 |
|
Imported |
0.000 |
0.000 |
|
Indigenous
|
0.000 |
0.000 |
|
|
|
|
|
3. Power and Fuel |
0.000 |
0.000 |
|
|
|
|
|
4. Direct Labour |
195.000 |
238.000 |
|
|
|
|
|
5. Other Manufacturing Expenses |
23.500 |
30.000 |
|
|
|
|
|
6. Depreciation/ Amortisation |
7.000 |
10.000 |
|
|
|
|
|
7. Repairs and Maintenance |
2.000 |
7.000 |
|
|
|
|
|
Sub-total |
357.500 |
445.000 |
|
|
|
|
|
Add: Opening Stock in Process |
23.701 |
26.000 |
|
|
|
|
|
Less: Closing Stock in Process |
26.000 |
32.000 |
|
|
|
|
|
Cost of Production |
355.201 |
439.000 |
|
|
|
|
|
COP as % of Gross Sales |
88.80% |
87.80% |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Less: Closing Stock of Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Cost of Sales |
355.201 |
439.000 |
|
|
|
|
|
Cost of Sales as % of Gross Sales |
88.80% |
87.80% |
|
|
|
|
|
Selling, General and Admin. Expenses |
15.000 |
20.000 |
|
|
|
|
|
Profit before Interest and Tax [PBIT] |
29.799 |
41.000 |
|
|
|
|
|
PBIT as % of Gross Sales |
7.45% |
8.20% |
|
|
|
|
|
Interest and Other Financial Charges |
6.500 |
10.000 |
|
|
|
|
|
Interest and Other Financial Charges as % of
Sales |
1.63% |
2.00% |
|
|
|
|
|
Operating Profit before Tax [OPBT] |
23.299 |
31.000 |
|
|
|
|
|
OPBT as % of Gross Sales |
5.82% |
6.20% |
|
|
|
|
|
Add: Other Non-operative Income |
|
|
|
1. Interest and Dividend |
1.200 |
1.300 |
|
2. Exchange Profit/ Export Incentives |
0.000 |
0.000 |
|
3. Excess Provision written back |
0.000 |
0.000 |
|
4. Profit on sale of assets |
0.000 |
0.000 |
|
5. Sale of Scrap/ Other Miscellaneous Income
|
0.100 |
0.000 |
|
|
|
|
|
Sub-total (Income) |
1.300 |
1.300 |
|
|
|
|
|
Less: Other Non-operating Expenses |
|
|
|
1. Loss on Investment |
0.000 |
0.000 |
|
2. Loss on Forex |
0.000 |
0.000 |
|
3. Loss on Sale of Fixed Assets |
0.000 |
0.000 |
|
4. Bad debts written off |
0.000 |
0.000 |
|
5. Miscellaneous Expenses written off |
0.000 |
0.000 |
|
|
|
|
|
Sub-total (Expenses) |
0.000 |
0.000 |
|
|
|
|
|
Profit before Tax/ (Loss) |
24.599 |
32.300 |
|
|
|
|
|
Deferred Tax Liability/ Deferred Tax Assets |
0.000 |
0.000 |
|
|
|
|
|
Provision for Taxes |
0.000 |
0.000 |
|
|
|
|
|
Net Profit/ (Loss) (PAT) |
24.599 |
32.300 |
|
|
|
|
|
PAT as % of Gross Sales |
6.15% |
6.46% |
|
|
|
|
|
Equity / Preference Dividend Paid |
|
|
|
1. Equity Dividend |
0.000 |
0.000 |
|
|
|
|
|
2. Preference Dividend |
0.000 |
0.000 |
|
|
|
|
|
Retained Profit |
24.599 |
32.300 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Short
term borrowings from bank (incl. Bills purchased, discounted & excess
borrowings placed on repayment basis) |
|
|
|
(i) From applicant bank |
20.000 |
25.000 |
|
(ii)
From other banks |
0.000 |
0.000 |
|
(iii)
of which BP & BD |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL |
20.000 |
25.000 |
|
|
|
|
|
Short
term borrowings from others |
0.000 |
0.000 |
|
|
|
|
|
Sundry
Creditors - Trade |
65.000 |
80.000 |
|
|
|
|
|
Advance
payments from customers/deposits from dealers |
0.000 |
0.000 |
|
|
|
|
|
Provision
for Taxation |
0.000 |
0.000 |
|
|
|
|
|
Dividend
Payable |
0.000 |
0.000 |
|
|
|
|
|
Other
statutory liabilities (due within one year) |
4.000 |
5.000 |
|
|
|
|
|
Deposits/Instalments
of term loan/ DPGs/ Debentures etc. (due within one year) |
4.000 |
4.000 |
|
|
|
|
|
Other
Current liabilities & Provisions (due within one year) |
0.000 |
0.000 |
|
|
|
|
|
Dues
to Directors |
0.000 |
0.000 |
|
|
|
|
|
Security Deposit – Suppliers and Contractors
|
0.000 |
0.000 |
|
|
|
|
|
Other Current Liabilities |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL |
73.000 |
89.000 |
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
93.000 |
114.000 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
Debentures
(not maturing within one year) |
0.000 |
0.000 |
|
|
|
|
|
Preference
Shares (redeemable after one year) |
0.000 |
0.000 |
|
|
|
|
|
Term
loans (excluding instalments payable within one year) |
9.400 |
5.400 |
|
|
|
|
|
Term Deposits (repayable after one year) |
0.000 |
0.000 |
|
|
|
|
|
Unsecured Loans (repayable after one year) |
6.096 |
6.096 |
|
|
|
|
|
Mobilization Adv. (repayable after one year) |
0.000 |
0.000 |
|
|
|
|
|
Sundry Creditors for Capital Goods |
0.000 |
0.000 |
|
|
|
|
|
Deferred Sales Tax |
0.000 |
0.000 |
|
|
|
|
|
Deferred Tax Liability |
0.000 |
0.000 |
|
|
|
|
|
TOTAL TERM LIABILITIES |
15.496 |
11.496 |
|
|
|
|
|
NET WORTH |
|
|
|
Ordinary Share Capital |
50.246 |
58.098 |
|
|
|
|
|
Preference Share Capital |
0.000 |
0.000 |
|
|
|
|
|
General Reserve |
0.000 |
0.000 |
|
|
|
|
|
Capital Reserve |
0.000 |
0.000 |
|
|
|
|
|
Surplus
(+) or deficit (-) in Profit & Loss Account |
24.599 |
31.000 |
|
|
|
|
|
Share Application Money |
0.000 |
0.000 |
|
|
|
|
|
Share Premium |
0.000 |
0.000 |
|
|
|
|
|
Capital Redemption Reserve |
0.000 |
0.000 |
|
|
|
|
|
Quasi Equity |
0.000 |
0.000 |
|
|
|
|
|
Less: Revaluation Reserve |
0.000 |
0.000 |
|
|
|
|
|
NET WORTH |
74.845 |
89.098 |
|
|
|
|
|
TOTAL
LIABILITIES |
183.341 |
214.594 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Cash
& Bank balances |
0.724 |
0.725 |
|
|
|
|
|
Short term unencumbered Investments [Other
than long term] |
10.000 |
12.500 |
|
|
|
|
|
1. Government and Other Securities |
0.000 |
0.000 |
|
|
|
|
|
2. Fixed Deposits with Banks |
10.000 |
12.500 |
|
|
|
|
|
Receivables |
107.500 |
125.000 |
|
|
|
|
|
3. Domestic Sales |
107.500 |
125.000 |
|
|
|
|
|
4. Export Receivables [including Contingent
B/P and Discounted by banks] |
0.000 |
0.000 |
|
|
|
|
|
Inventory |
26.000 |
32.000 |
|
|
|
|
|
7. Raw Material – Indigenous |
0.000 |
0.000 |
|
|
|
|
|
8. Raw Material – Imported |
0.000 |
0.000 |
|
|
|
|
|
9. Consumables Spares - Indigenous |
0.000 |
0.000 |
|
|
|
|
|
10. Consumables Spares - Imported |
0.000 |
0.000 |
|
|
|
|
|
11. Stock in process |
26.000 |
32.000 |
|
|
|
|
|
12. Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
13. Goods in Transit |
0.000 |
0.000 |
|
|
|
|
|
14. Closing Stock of traded goods |
0.000 |
0.000 |
|
|
|
|
|
OTHER CURRENT ASSETS |
0.175 |
0.175 |
|
|
|
|
|
16. Deposits |
0.175 |
0.175 |
|
|
|
|
|
17. Duties and Taxes paid in Advance |
0.000 |
0.000 |
|
|
|
|
|
18. Others [Receivables within 1 year] |
0.000 |
0.000 |
|
|
|
|
|
19. Advance to suppliers of Raw material |
0.000 |
0.000 |
|
|
|
|
|
20. Income Tax Advance |
0.000 |
0.000 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
144.399 |
170.400 |
|
|
|
|
|
GROSS FIXED ASSETS [GFA] |
45.497 |
53.749 |
|
|
|
|
|
Land |
0.000 |
0.000 |
|
|
|
|
|
Building |
0.000 |
0.000 |
|
|
|
|
|
Plant and Machinery |
39.200 |
45.224 |
|
|
|
|
|
Furniture and Fixture |
0.150 |
0.125 |
|
|
|
|
|
Other Fixed Assets |
6.147 |
8.400 |
|
|
|
|
|
Capital works in process |
0.000 |
0.000 |
|
|
|
|
|
Less: Accumulated Depreciation on FA |
7.000 |
10.000 |
|
|
|
|
|
Less: Revaluation Reserves, if any |
0.000 |
0.000 |
|
|
|
|
|
NET BLOCK |
38.497 |
43.749 |
|
|
|
|
|
NON-CURRENT ASSETS |
|
|
|
Investment in Subsidiary Companies/ Affiliates |
0.000 |
0.000 |
|
|
|
|
|
Other
Investments |
0.445 |
0.445 |
|
|
|
|
|
Loans and Advances to Subsidiary /
Affiliates / Associates Companies |
0.000 |
0.000 |
|
|
|
|
|
Advance to suppliers of Capital Goods/
Contractors |
0.000 |
0.000 |
|
|
|
|
|
Deferred receivables [maturity less 1 year] |
0.000 |
0.000 |
|
|
|
|
|
Margin money kept with banks |
0.000 |
0.000 |
|
|
|
|
|
Debtors exceeding six months |
0.000 |
0.000 |
|
|
|
|
|
Short term deposits with bodies corporate |
0.000 |
0.000 |
|
|
|
|
|
Non-consumables stores and spares |
0.000 |
0.000 |
|
|
|
|
|
Other non-current assets including dues from
directors |
0.000 |
0.000 |
|
|
|
|
|
TOTAL NON-CURRENT ASSETS |
0.445 |
0.445 |
|
|
|
|
|
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
183.341 |
214.594 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
|
|
|
|
Profit after Tax |
24.599 |
32.300 |
|
|
|
|
|
Depreciation |
7.000 |
10.000 |
|
|
|
|
|
Dividends |
0.000 |
0.000 |
|
|
|
|
|
Funds from Operations |
31.599 |
42.300 |
|
|
|
|
|
Long term Sources |
|
|
|
Change in Capital |
5.000 |
7.852 |
|
|
|
|
|
Net Change in Reserve |
(17.352) |
(25.899) |
|
|
|
|
|
Change in Term Loans |
2.930 |
(4.000) |
|
|
|
|
|
Total [Source [+]/ Deficit [-]] |
22.177 |
20.253 |
|
|
|
|
|
Long Term Uses |
|
|
|
Net Change in Fixed Assets |
9.885 |
15.252 |
|
|
|
|
|
Change in Other Non-current Assets
[including Investments] |
0.000 |
0.000 |
|
|
|
|
|
Change in investments in group companies |
0.000 |
0.000 |
|
|
|
|
|
Change in intangibles |
0.000 |
0.000 |
|
|
|
|
|
Contribution to Working Capital |
12.292 |
5.001 |
|
|
|
|
|
Short Term Uses |
|
|
|
Change in Net Working Assets |
11.700 |
23.500 |
|
|
|
|
|
Change in Other Current Assets |
(15.989) |
0.000 |
|
|
|
|
|
Short Term Sources |
|
|
|
Change in Other Current Liabilities |
(31.664) |
16.000 |
|
|
|
|
|
Change in Bank Borrowings/ Loans |
11.402 |
5.000 |
|
|
|
|
|
Net Deficit / Surplus in ST Sources |
(15.973) |
(2.500) |
|
|
|
|
|
Net Movement in Liquid Assets |
(3.681) |
2.501 |
|
|
|
|
|
Change in Cash |
0.278 |
0.001 |
|
|
|
|
|
Change in Marketable Investments |
(3.959) |
2.500 |
|
|
|
|
|
Net Movement in
Liquid Assets |
(3.681) |
2.501 |
------------------------------------------------------------------------------------------------------------------------------
WORKING CAPITAL ASSESSMENT
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
BUILD UP OF CURRENT ASSETS |
|
|
|
Raw Material – Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.00 |
0.00 |
|
|
|
|
|
Raw Material – Imported |
0.000 |
0.000 |
|
Months Consumption |
0.00 |
0.00 |
|
|
|
|
|
Consumable Spares - Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.00 |
0.00 |
|
|
|
|
|
Consumable Spares - Imported |
0.000 |
0.000 |
|
Months Consumption |
0.00 |
0.00 |
|
|
|
|
|
Stock in process |
26.000 |
32.000 |
|
Months Cost of Production |
0.88 |
0.87 |
|
|
|
|
|
Finished Goods |
0.000 |
0.000 |
|
Months Cost of Sales |
0.00 |
0.00 |
|
|
|
|
|
Receivables (Domestic) other than deferred
and exports [including bills purchased and discounted by banks] |
107.500 |
125.000 |
|
Months Domestic Sales |
3.23 |
3.00 |
|
|
|
|
|
Export Receivables [including bills
purchased and discounted by banks] |
0.000 |
0.000 |
|
Months Export Sales |
0.00 |
0.00 |
|
|
|
|
|
BUILD UP OF CURRENT LIABILITIES |
|
|
|
Trade Creditors |
65.000 |
80.000 |
|
Months Trade Creditors |
6.00 |
6.00 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF ASSESSED BANK FINANCE [ABF]
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
|
|
|
|
Total Current Assets |
144.399 |
170.400 |
|
|
|
|
|
Other Current Liabilities (Other than Bank
Borrowings and TL Installments due within one year) |
69.000 |
85.000 |
|
|
|
|
|
Working Capital Gap |
75.399 |
85.400 |
|
|
|
|
|
Minimum stipulated Net Working Capital (NWC)
(25% of Total Current Assets excluding Export Receivables) |
36.100 |
42.600 |
|
|
|
|
|
Actual / Projected NWC |
55.399 |
60.400 |
|
|
|
|
|
Item 3 minus Item 4 |
39.299 |
42.800 |
|
|
|
|
|
Items 3 minus Item 5 |
20.000 |
25.000 |
|
|
|
|
|
MPBF [lower of 6 or 7] |
20.000 |
25.000 |
|
|
|
|
|
Excess borrowings representing shortfall in
NWC |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF FINANCIAL POSITION
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 PROJECTIONS |
2015-16 PROJECTIONS |
|
|
|
|
|
A. PROFILE ANALYSIS |
|
|
|
Total Assets [Tangible] |
183.341 |
214.594 |
|
|
|
|
|
Total Outside Liabilities [TOL] |
108.496 |
125.496 |
|
|
|
|
|
Tangible Networth [TNW] |
74.845 |
89.098 |
|
|
|
|
|
Net Sales |
400.000 |
500.000 |
|
|
|
|
|
PBDIT |
36.799 |
51.000 |
|
|
|
|
|
Operating Profit [OPBT] |
23.299 |
31.000 |
|
|
|
|
|
Net Profit |
24.599 |
32.300 |
|
|
|
|
|
Gross Cash Accruals |
31.599 |
42.300 |
|
|
|
|
|
Term Liabilities to Gross Cash Accruals |
0.49 |
0.27 |
|
|
|
|
|
Net Working Capital |
51.399 |
56.400 |
|
|
|
|
|
% of NWC to Current Assets |
35.60% |
33.10% |
|
|
|
|
|
Current Assets to Net Sales |
36.10% |
34.08% |
|
|
|
|
|
B. LIQUIDITY ANALYSIS |
|
|
|
Current Ratio |
1.55 |
1.49 |
|
|
|
|
|
Quick Ratio
|
1.27 |
1.21 |
|
|
|
|
|
C. PROFITABILITY ANALYSIS |
|
|
|
PBDIT / Net Sales [%] |
9.20% |
10.20% |
|
|
|
|
|
OPBT / Net Sales [%] |
5.82% |
6.20% |
|
|
|
|
|
Net Profit / Net Sales [%] |
6.15% |
6.46% |
|
|
|
|
|
Return on Assets [%] |
13.42% |
15.05% |
|
|
|
|
|
Retained Profits / Net Profits [%] |
100.00% |
100.00% |
|
|
|
|
|
Return on Networth [%] |
32.87% |
36.25% |
|
|
|
|
|
D. ACTIVITY ANALYSIS [IN DAYS] |
|
|
|
Receivables Turnover - Domestic |
98 |
91 |
|
|
|
|
|
Receivables Turnover – Export |
-- |
-- |
|
|
|
|
|
Inventory Turnover |
24 |
23 |
|
|
|
|
|
Accounts Payable Turnover |
183 |
183 |
|
|
|
|
|
Fixed Assets Turnover Ratio |
10.39 |
11.43 |
|
|
|
|
|
E. GROWTH RATIOS |
|
|
|
Net Sales Growth [%] |
13.41% |
25.00% |
|
|
|
|
|
Net Profit Growth [%] |
41.76% |
31.31% |
|
|
|
|
|
Networth Growth [%] |
19.56% |
19.04% |
|
|
|
|
|
F. LEVERAGE AND OTHER RATIOS |
|
|
|
TOL / TNW |
1.45 |
1.41 |
|
|
|
|
|
DER |
0.21 |
0.13 |
|
|
|
|
|
DSCR |
3.63 |
3.74 |
|
|
|
|
|
CFDSCR |
2.33 |
3.29 |
|
|
|
|
|
FACR |
4.10 |
8.10 |
|
|
|
|
|
Net Operating Cash Flow [NOCF] |
24.507 |
45.999 |
|
|
|
|
|
Interest Cover |
5.66 |
5.10 |
|
|
|
|
|
CFICR |
3.77 |
4.60 |
------------------------------------------------------------------------------------------------------------------------------
PROFILE
Subject is a proprietary concern of Mr. Subhash B. Khakal. Initially the
firm was registered with Public Works Department of Government of Maharashtra
as a registered Civil Contractor in 1990. In view of the rising demand and
essentiality of drinking water in urban and rural areas, the said firm has
concentrated especially on infrastructure development of water supply projects
all over Maharashtra. The firm has successfully completed many water supply
schemes on turnkey basis for Government of Maharashtra (MJP), Nashik Municipal
Corporation, Mira Bhayander Municipal Corporation, Mumbai Metropolitan Regional
Development Authority, Navghar Manikpur Municipal Council, Pimpari Chinchwad
Municipal Corporation, Municipal Corporation of Greater Mumbai etc. over the
last 15 years. As such the firm has been up graded in class I category under
Maharashtra Jeevan Pradhikaran and Public Works Division of Government of
Maharashtra since 2000, which means that it can now bid for tenders for
unlimited amounts of contracts.
The nature of these projects consist of designing and construction of water
storage tanks, pump houses and water treatment plants, erection of pumping
machinery, fabrication of MS pipes, structural works and supply, laying and
commissioning water pipe lines and sewerage pipe lines of various diameter. At
present their major projects under execution are awarded by Municipal
Corporation of Greater Mumbai, Kalyan Dombivli Municipal Corporation, Pimpari
Chinchwad Municipal Corporation; Thane Municipal Corporation, Nashik Municipal
Corporation, Solapur Municipal Corporation. Also some projects were executed on
subcontract basis from Corporate sector like HCC, Reliance Infra (MMOPL), SMC
Infrastructure Private Limited. There is vast potential in concrete road
projects and hence some concrete road projects executed under MMRDA, Thane Municipal
Corporation in joint venture with SMC Infrastructure Private Limited Thane. In
view of the increasing demand of ready mix concrete in projects and selling the
ready mix concrete in the 30 km radius of the plant location. The said unit
will have average turnover around Rs 10.000 Millions per month.
The work force of S.B. Khakal consists of qualified civil engineers,
experienced supervisory staff and skilled labour gangs. It is supported on
technical front by reputed Techno-Cart Mr. Suhas N. Mehta (IIT qualified Civil
Engineer), Mr. P.N. Supe (Retired Executive Engineer for MJP) and Tec line
(Structural Consultant). Also two qualified family members have joined family
business Mr. Saurabh S Khakal (BE Civil, MS construction management UK) and
Vishal R Khakal (B. Tech Civil). There is team of qualified engineers and well
experienced supervising staff and dedicated labour, contractors. The financial
matter of the firm has been looked after by Chartered Accountant S.V. Mohile
and Associate.
The firm has orders in hand to the tune of Rs.539.132 Millions as on
date. In view of the orders in hand, turnover for the current financial year
would easily cross Rs.450.000 Millions. The various types of machineries is
required for execution of civil projects. Therefore since last five years the
firm has procured construction machinery and vehicles more than Rs.70.000
Millions and has saved the rental expenditure on account of hiring outside
machineries. The strong hold of the firm can be very well judged from of
various projects executed and the Balance Sheets and profits for last five
years
The Central Government has given priority for infrastructure sector huge
amount is being invested in the infrastructure development and real estate
sectors in next five years. As such there is high potential for expansion of
current business. Therefore they have been diversifying their business
activities in the real estate also and have entered in some real estate
projects under Joint Venture/ Partnership firms. The firm will definitely stand
strongly in this sector and expand the business activities in multiples in
recent future. New Private Limited firm in the name of "SBK Civil Projects
Private Limited” has been formed in order to give corporate identify to existing
proprietary business and it will be transferred in future step by step. The
turn key civil projects has mandatory technical and financial parameters in
order to qualify for bidding the tenders. Therefore some projects were executed
in Joint Venture during last 5 years.
Wide opportunity has been created by executing various types of civil
works like water supply, sewerage scheme, building construction, concrete road
construction and some operation and maintenance and repair works and planning
to take the fullest advantage in near future.
------------------------------------------------------------------------------------------------------------------------------
PROPERTIES OFFERED FOR COLLATERAL SECURITIES
WITH VALUATION
(RS. IN MILLIONS)
|
SR. NO. |
DESCRIPTION OF
PROPERTY |
DETAILS OF
PROPERTIES |
MARKET VALUE OF
PROPERTY AS ON 31.12.2014 |
|
1 |
Shops No. G-1, Shops No. 2 and 3, Devprayag
CHS, Bhaktimandir Road, Naupada, Thane – 400602, Maharashtra, India |
1) Shop No. G-1 (Area 150 Sq. ft.) 2) Shop No. S-2 (Area 449 Sq. ft.) 3) Shop No. S-3 (Area 457 Sq. ft.) |
25.000 |
|
|
|
|
|
|
2 |
Shop No. 2, A-Wing, Akruti Elegance, 90ft
Road, Gawanpada, Mulund (East), Mumbai – 400081, Maharashtra, India |
Area 462.00 Sq. ft. |
15.000 |
|
|
|
|
|
|
3 |
Shop 4, Shanti Mangal Apartment No. 1, Rajiv
Nagar, Opposite Balbharati Bhavan, Mumbai – Agra Road, Nashik – 9,
Maharashtra, India |
Area 400.00 Sq. ft. |
2.500 |
|
|
|
|
|
|
4 |
Flat No. 501 and 502, E-Wing, Sita Vihar CHS,
LBS Marg, Naupada, Thane, Maharashtra, India |
Area 501-564.68 Sq. ft. and 502-647.32 Sq. ft. |
21.000 |
|
|
|
|
|
|
|
TOTAL AMOUNT |
|
63.500 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
SUMMARY OF MR. SUBHASH B. KHAKAL
(RS. IN MILLIONS)
|
SR. NO. |
DETAILS OF PROPERTY |
FAIR MARKET
VALUE |
|
|
|
|
|
1 |
Report Ref. No. 01/MFB15-024/VBS Shop No. 2, Ground Floor, Akruti Elegance
Cooperative Housing Society Limited, CTS No. 492 (pt) of Village Mulund
(East), Near State Bank of India, 90’ wide road, Gavanpada, Mulund (East), Mumbai
- 400081 |
8.138 |
|
|
|
|
|
2 |
Report Ref. No. 01/MFB15-023/VBS Flat No. 501 and 502, Fifth Floor, E Wing, Sita Vihar Cooperative Housing Society Limited, Tika No. 18, CTS No. 15, 47, 48, 49, 59 and 63 of Village Naupada, Near Damani Cars and Datta Mandir, Lal Bahadur Shastri Marg, Thane (West), Taluka and District Thane - 400602 |
20.600 |
|
|
|
|
|
3 |
Report Ref. No. 01/MFB15-064/VBS Store No. 00G-2, Ground Floor, Dev Prayag Cooperative
Housing Society Limited, Near Hariniwas Circle and Opposite Ravi Industrial
Compound, Bhakti Mandir Road, Thane [West], Taluka and District Thane -
400601 |
1.690 |
|
|
|
|
|
4 |
Report Ref. No. 01/MFB15-065/VBS Shop No. 3, Ground Floor, Dev Prayag
Cooperative Housing Society Limited, Near Hariniwas Circle and Opposite Ravi
Industrial Compound, Bhakti Mandir Road, Thane [West], Taluka and District
Thane - 400601 |
11.000 |
|
|
|
|
|
5 |
Report Ref. No. 01/MFB15-066/VBS Shop No. 2, Ground Floor, Dev Prayag
Cooperative Housing Society Limited, Near Hariniwas Circle and Opposite Ravi
Industrial Compound, Bhakti Mandir Road, Thane [West], Taluka and District
Thane - 400601 |
10.800 |
|
|
|
|
|
6 |
Report Ref. No. 03/MFB15-204/PLR Shop No. 4, Ground Floor, Shantimangal
Apartment – 1, Shree Mangal Township, Plot No.1, Survey No. 881/ 1B/ 1, Rajiv
Nagar, Pethe Nagar, Mumbai-Agra Road, Nashik - 422109 |
3.000 |
|
|
|
|
|
|
TOTAL |
55.228 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Computers
Furniture
and Fixture
Machineries
Office
Premises
------------------------------------------------------------------------------------------------------------------------------
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.28 |
|
|
1 |
Rs. 96.21 |
|
Euro |
1 |
Rs. 70.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.