MIRA INFORM REPORT
|
Report No. : |
332251 |
|
Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
N J DEVANI BUILDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Behind Ishwer Bhavan,
Near Navarangpura, Ahmedabad – 380 009, Gujarat |
|
Tel. No.: |
91-79-26753156 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.11.1982 |
|
|
|
|
Com. Reg. No.: |
04-005730 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.810
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201GJ1982PTC005730 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in Civil Construction work on contract
basis. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 : |
Clear |
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|
|
|
Comments : |
Subject is an established
company incorporated during the year 1982. It has a satisfactory track
record. Management has
reported above average profitability margin and seen a continuous decline in
its sales turnover and profit of the company during the financial year 2014. The company
possesses healthy financial risk profile marked by fine networth position and
favorable gap between trade payable and receivables. Trade relations
are reported as fair. Business is active. Payment terms are reported as slow
but correct. In view of good
liquidity profile, 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Nilesh Chotavtiya |
|
Designation : |
HR Department |
|
Contact No.: |
91-9376958672 |
|
Date : |
15.07.2015 |
LOCATIONS
|
Registered Office : |
Behind Ishwer Bhavan,
Near Navarangpura, Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-26753156/ 26400588/ 23569761 |
|
Mobile No.: |
91-9376958672 (Mr. Nilesh) 91-9376958669 (Mr. Bharat) |
|
Fax No.: |
91-79-26409765 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vijay Ramkrishna Vyas |
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|
Designation : |
Director |
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|
Address : |
8-A,
Devani Apartment, Opposite Shubham Flats, Lad Society Road, Vastrapur,
Ahmedabad – 380 015, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.12.1965 |
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Date of Appointment : |
01.04.2006 |
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DIN No.: |
00150688 |
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|||||||||||||||||||||||||||
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Name : |
Mr. Nathalal Jivraj Devani |
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Designation : |
Director |
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|
Address : |
Behind
Ishwar Bhuvan, Navrangpura, Ahmedabad – 380 009, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.05.1928 |
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Date of Appointment : |
30.11.1982 |
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DIN No.: |
00212128 |
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Election Commission Identity Card No.: |
GJ/11/068/022281 |
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Other Directorship :
|
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|||||||||||||||||||||||||||
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Name : |
Mr. Rampyare Rambachan Prajapati |
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Designation : |
Director |
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|
Address : |
A/9,
Archita Flats, Behind A.G. School, Navrangpura, Ahmedabad – 380 009, Gujarat,
India |
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|
Date of Birth/Age : |
01.09.1945 |
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Date of Appointment : |
30.11.1982 |
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DIN No.: |
00212395 |
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Election Commission Identity Card No.: |
GJ/11/068/091033 |
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Name : |
Mrs. Lila Nathalal Devani |
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Designation : |
Director |
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|
Address : |
Behind
Ishwar Bhuvan, Jain Upasray Street, Navrangpura, Ahmedabad – 380 009,
Gujarat, India |
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|
Date of Birth/Age : |
04.06.1935 |
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Date of Appointment : |
01.01.1986 |
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DIN No.: |
00212597 |
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Election Commission Identity Card No.: |
GJ/10/068/021541 |
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Other Directorship :
|
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Anil Nathalal Devani |
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Designation : |
Director |
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|
Address : |
Behind
Ishwar Bhuvan, Navrangpura, Ahmedabad – 380 009, Gujarat, India |
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|
Date of Birth/Age : |
16.03.1961 |
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Date of Appointment : |
30.11.1982 |
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DIN No.: |
00220793 |
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Election Commission Identity Card No.: |
GJ/11/068/022268 |
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Other Directorship :
|
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|
Name : |
Mrs. Priti Anil Devani |
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Designation : |
Director |
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|
Address : |
Behind
Ishwar Bhuvan, Navrangpura, Ahmedabad – 380 009, Gujarat, India |
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|
Date of Birth/Age : |
28.08.1965 |
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Date of Appointment : |
01.01.2000 |
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DIN No.: |
00220880 |
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|
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Name : |
Mr. Vijay Nathalal Devani |
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Designation : |
Director |
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|
Address : |
278/5,
B/H Ishwar Bhuvan, Near Sthanak Vasi Derasar, Navrangpura, Ahmedabad – 380
009, Gujarat, India |
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|
Date of Birth/Age : |
08.09.1966 |
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Date of Appointment : |
01.01.1986 |
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DIN No.: |
00679622 |
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Election Commission Identity Card No.: |
GJ/11/068/022375 |
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Other Directorship :
|
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Anand Anil Devani |
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Designation : |
Director |
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|
Address : |
Behind
Ishwar Bhuvan, Navrangpura, Ahmedabad – 380 009, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.01.1991 |
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Date of Appointment : |
27.09.2012 |
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DIN No.: |
06418804 |
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KEY EXECUTIVES
|
Name : |
Mr. Nilesh Chotavtiya |
|
Designation : |
HR Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nathalal Jivraj Devani |
|
1795 |
|
Anil Nathalal Devani |
|
500 |
|
N.J. Devani HUF |
|
1895 |
|
Lila Nathalal Devani |
|
1972 |
|
Vijay Nathalal Devani |
|
500 |
|
Rama Nathalal Devani |
|
500 |
|
Harsha Nathalal Devani |
|
500 |
|
Hemant Dwarkadas Patel |
|
100 |
|
Priti Anil Devani and Chunchun Vijay Devani |
|
5 |
|
Priti Anil Devani |
|
5 |
|
Siddharth Hemant Patel |
|
100 |
|
Rahul N. Patel |
|
50 |
|
Rachana N. Patel |
|
50 |
|
Payal A. Devani |
|
50 |
|
Anand Anil Devani |
|
78 |
|
Total |
|
8100 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in Civil Construction work on contract
basis. |
|
|
|
|
Products/ Services : |
Construction Activities |
|
|
|
|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
|
Terms : |
|
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Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
End Users and OEM’s
|
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|
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|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
Yes Bank Limited, 9th Floor, Nehru
Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.H. Mangarolia and Company Chartered Accountants |
|
Address : |
408, "Mahakant", Opposite V.S. Hospital, Ashram Road,
Ahmedabad – 380 006, Gujarat, India |
|
Tel. No.: |
91-79-26578527/ 26576849 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAHFB6753A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8100 |
Equity Shares |
Rs.100/- each |
Rs.0.810
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.810 |
0.810 |
0.810 |
|
(b) Reserves &
Surplus |
94.924 |
85.539 |
71.163 |
|
(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) |
95.734 |
86.349 |
71.973 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
88.482 |
86.683 |
159.587 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.606 |
1.606 |
1.606 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
90.088 |
88.289 |
161.193 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1.236 |
0.776 |
3.636 |
|
(c) Other current
liabilities |
6.932 |
13.738 |
17.864 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
8.168 |
14.514 |
21.500 |
|
|
|
|
|
|
TOTAL |
193.990 |
189.152 |
254.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
35.803 |
38.800 |
43.160 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.041 |
0.041 |
0.041 |
|
(c) Deferred tax assets
(net) |
1.113 |
0.849 |
0.579 |
|
(d) Long-term Loan and Advances |
8.664 |
8.628 |
7.347 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
45.621 |
48.318 |
51.127 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
47.468 |
57.505 |
24.910 |
|
(c) Trade receivables |
32.634 |
42.527 |
66.426 |
|
(d) Cash and cash
equivalents |
51.193 |
26.704 |
94.121 |
|
(e) Short-term loans and
advances |
17.074 |
14.098 |
18.082 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
148.369 |
140.834 |
203.539 |
|
|
|
|
|
|
TOTAL |
193.990 |
189.152 |
254.666 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
271.700 |
427.500 |
507.877 |
|
|
|
Other Income |
NA |
NA |
1.233 |
|
|
|
TOTAL |
NA |
NA |
509.110 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of construction
materials consumed |
NA |
NA |
287.882 |
|
|
|
Direct Expenses related
with Contracts |
NA |
NA |
108.466 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
NA |
NA |
33.500 |
|
|
|
Employee benefit expense |
NA |
NA |
23.653 |
|
|
|
Other expenses |
NA |
NA |
18.153 |
|
|
|
TOTAL |
NA |
NA |
471.654 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
37.456 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
6.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.587 |
27.698 |
31.224 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.907 |
6.507 |
6.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
13.680 |
21.191 |
24.435 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.296 |
6.815 |
7.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
9.384 |
14.376 |
16.622 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
85.443 |
71.067 |
54.445 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
94.827 |
85.443 |
71.067 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1158.52 |
1774.81 |
2052.08 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from
operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.45 |
3.36 |
3.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
7.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.09 |
11.26 |
9.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.25 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.92 |
1.00 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
18.16 |
9.70 |
9.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.810 |
0.810 |
0.810 |
|
Reserves & Surplus |
71.163 |
85.539 |
94.924 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
71.973 |
86.349 |
95.734 |
|
|
|
|
|
|
Long-term borrowings |
159.587 |
86.683 |
88.482 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of long-term
debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
159.587 |
86.683 |
88.482 |
|
Debt/Equity ratio |
2.217 |
1.004 |
0.924 |
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) |
|
Revenue from operations (net) |
507.877 |
427.500 |
271.700 |
|
|
|
(15.826) |
(36.444) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations (net) |
507.877 |
427.500 |
271.700 |
|
Profit |
16.622 |
14.376 |
9.384 |
|
|
3.27% |
3.36% |
3.45% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity-Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL
RESULTS:
The company has executed
works contract to the tune of Rs.271.700 million during the year as compared to
Rs.427.500 million during
earlier year. Operating Profit before depreciation and tax of Rs.19.586
million has gone down as
compared to Rs.27.698 million
during earlier year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
88.482 |
86.683 |
|
Total |
88.482 |
86.683 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10132381 |
17/01/2014 * |
80,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
B95908612 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
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 |
|
42 |
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.