MIRA INFORM REPORT

 

 

Report No. :

333829

Report Date :

27.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SUNTECK REALTY LIMITED

 

 

Registered Office :

5th Floor, Sunteck Centre, 37-40, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra

Tel. No.:

91-22-42877800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

01.10.1981

 

 

Com. Reg. No.:

025346

 

 

Capital Investment / Paid-up Capital :

Rs.125.932 Million

 

 

CIN No.:

[Company Identification No.]

L32100MH1981PLC025346

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges

 

 

Line of Business :

The Company is engaged in the business of real estate/ real estate development and incidental services.

 

 

No. of Employees :

Infopmration declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 1981 having a good track.

 

Sales turnover and profit of the company has declined during FY 2015. However, networth of the company is good. General financial position of the company is decent.

 

Further the rating also takes into consideration strong profitability margin of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of long track record and sound financial base, the company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Non convertible debentures : A

Rating Explanation

Adequate degree of safety and carry low credit risk.

Date

20.01.2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DENIED

 

Management non co-operative

 

Contact No.: 91-22-42877800

 

LOCATIONS

 

Registered Office :

5th Floor, Sunteck Centre, 37-40, Subhash Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

Tel. No.:

91-22-42877800

Fax No.:

91-22-42877890

E-Mail :

info@sunteckindia.com

Website :

http://www.sunteckindia.com

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Kamal Khetan

Designation :

Chairman and Managing Director

 

 

Name :

Mr. Jignesh Sanghavi

Designation :

Executive Director

 

 

Name :

Mr. Kishore Vussonji

Designation :

Independent Director

 

 

Name :

Mr. Sanjay Dutt

Designation :

Independent Director

 

 

Name :

Mr. Mahadevan Kalahasthi

Designation :

Independent Director

 

 

Name :

Mr. Ramakant Nayak

Designation :

Independent Director

 

 

Name :

Mr. Hari V. Krishna

Designation :

Nominee Director

 

 

KEY EXECUTIVES

 

Name :

Ms. Rachana Hingarajia

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

2790591

4.43

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3000100

4.76

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

40480374

64.29

http://www.bseindia.com/include/images/clear.gifTrusts

40480374

64.29

http://www.bseindia.com/include/images/clear.gifSub Total

46271065

73.49

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

46271065

73.49

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

249

0.00

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

775

0.00

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

3258884

5.18

http://www.bseindia.com/include/images/clear.gifSub Total

3259908

5.18

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

6346695

10.08

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million 

718186

1.14

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million 

1909061

3.03

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

4461292

7.09

http://www.bseindia.com/include/images/clear.gifClearing Members

290806

0.46

http://www.bseindia.com/include/images/clear.gifTrusts

4099633

6.51

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

70853

0.11

http://www.bseindia.com/include/images/clear.gifSub Total

13435234

21.34

Total Public shareholding (B)

16695142

26.51

 

 

 

Total (A)+(B)

62966207

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

 

 

 

Total (A)+(B)+(C)

62966207

100.00

 

 

SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO THE CATEGORY PROMOTER AND PROMOTER GROUP

 

Name of the Shareholder

Details of Shares held

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

No. of Shares held

As a % of grand total (A)+(B)+(C)

Manisha Khetan

80

0.00

0.00

Kamal Khetan

81

0.00

0.00

Akrur Kamal Khetan

11,20,310

1.78

1.78

Anupma Khetan

11,76,330

1.87

1.87

Shanti Khetan

4,93,790

0.78

0.78

Satguru Infocorp Services Private Limited

15,00,000

2.38

2.38

Starlight Systems Private Limited

15,00,000

2.38

2.38

Samagra Wealthmax Private Limited

100

0.00

0.00

Paripurna Trust

1,07,74,454

17.11

17.11

Astha Trust

50,52,522

8.02

8.02

Matrabhav Trust

2,46,53,398

39.15

39.15

Total

4,62,71,065

73.49

73.49

 


SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO THE CATEGORY PUBLIC AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES

 

 

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

Kotak Mahindra Trusteeship Services Limited A/c Kotak Alternate Opportunities (India) Fund

4099633

6.51

6.51

Akshar Fincom Private Limited

2915730

4.63

4.63

College Retirement Equities Fund-Global Equities Account

813513

1.29

1.29

Pavitra Finlease Private Limited

875000

1.39

1.39

College Retirement Equities Fund-Stock Account

1828634

2.90

2.90

Ashish Dhawan

1084891

1.72

1.72

Bestdeal Finadvisors LLP

700000

1.11

1.11

Total

12317401

19.56

19.56

 

 

SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS (TOGETHER WITH PAC) BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN 5% OF THE TOTAL NUMBER OF SHARES OF THE COMPANY

 

Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them

No. of Shares

Shares as % of Total No. of Shares

Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital

Kotak Mahindra Trusteeship Services Limited A/c Kotak Alternate Opportunities (India) Fund

4099633

6.51

6.51

Total

4099633

6.51

6.51

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the business of real estate/ real estate development and incidental services.

 

 

Products / Services :

Real estate/ real estate development and incidental services.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Bank Name

Not Available

Branch

Not Available

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

  • Kotak Mahindra Bank
  • State Bank of India
  • HDFC Bank
  • ICICI Bank

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Short-term borrowings

 

 

Term Loan

NA

426.943

Bank Overdraft

NA

60.199

Total

NA

487.142

 

Note : AS ON 31.03.2014

 

Terms and Conditions for Secured Loan taken from Bank

 

a) The term loan is secured by way of mortgage of land situated at borivali (realty project - signia high) and andheri (realty project - sunteck grandeur) and receivables thereon.

 

b) The term loan is further secured by way of lien on fixed deposits with bank of Rs.23.584 Million.

 

c) The interest rate on above term loan is ICICI bank limited I-base rate plus 4.5% spread.

 

d) Repayment schedule of secured term loan.

 

Repayment Schedule

less than 1 years

--

--

1 - 3 years

426.943

569.183

 

e) The Company has taken a overdraft facility from ICICI bank limited of Rs. 200.000 Million which is secured by way of mortgage of the land situated at andheri (realty project – sunteck grandeur) and at borivali (realty project- signia high) and receivables thereon. The rate of interest applied on the above overdraft facility is ICICI bank limited I-base rate plus 3.75%.

 

f) The Company has taken a overdraft facility from Kotak mahindra bank limited of Rs. 170.000 Million which is secured by way of mortgage of the portion of 4th floor in wing A and wing B of the building known as sunteck centre . The rate of interest applied on the above overdraft facility is base rate plus 3.75%.

 

g) The Company has taken loans from body corporates @ 10% which are repayable on demand.

 

Auditors :

 

Name :

Lodha and Company

Chartered Accountants

 

 

Solicitors and Legal Advisors

 

Name :

Kanga and Company

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary Companies:
  • Amenity Software Private Limited
  • Magenta Computer Software Private Limited
  • Satguru Infocorp Services Private Limited
  • Starlight Systems Private Limited
  • Sunteck Property Holdings Private Limited
  • Sunteck Realty Holdings Private Limited (From 25th April 2013)
  • Skystar Buildcon Private Limited
  • Sahrish Construction Private Limited
  • Eleanor Lifespaces Private Limited (formerly known as Signature Island
  • Buildcon Private Limited) (up to 31st December, 2013)
  • Sunteck Fashion and Lifestyle Private Limited (from 15th March 2014)
  • Sunteck Lifestyles International Private Limited (Foreign Subsidiary) (From 25th October 2013)
  • Sunteck Lifestyle Limited (Foreign Subsidiary) (From 6th November 2013)
  • Advaith Infraprojects Private Limited
  • Starlight Systems (I) LLP

 

 

Joint Ventures :
  • Piramal Sunteck Realty Private Limited
  • V3 Designs LLP (upto 17th May 2013)
  • Uniworth Realty LLP
  • Nariman Infrastructure LLP
  • Pathway Buildcon LLP
  • Assable Buildcon LLP
  • Kanaka and Associates (Partnership Firm)

 

 

Other Associates :

Topzone Mercantile Company LLP

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :Not Available

 

Issued, Subscribed & Paid-up Capital :Rs.125.932 Million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

93,750,000

Equity Shares

Rs.2/- each

Rs.187.500 Million

1,250,000

Preference Shares

Rs.10/- each

Rs.12.500 Million

 

Total

 

Rs.200.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

62,966,207

Equity Shares

Rs.2/- each

Rs.125.932 Million

 

Reconciliation of shares outstanding at the beginning and at the end of the year

 

 

31.03.2014

Particulars

Number of Shares

Outstanding at the beginning of the year

62,966,207

Issued during the year

--

Bought back during the year

--

Outstanding at the end of the year

62,966,207

 

Terms/rights attached to Equity shares

 

The Company has only one class of Equity Share having value of Rs. 2 each with an entitlement of one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors are subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holder of Equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all Preferential amounts. However, no such Preferential amounts exist currently. The distribution will be in proportion to the number of Equity shares held by the Shareholders.

 

Shares held by Subsidiaries

3,000,000 ( P.Y. 3,000,000) shares out of issued, subscribed and paid up share capital are held by Subsidiary Companies.

 

Details of shareholders holding more than 5% shares in the company

 

Particulars

31.03.2014

 

Number of Shares

% holding in the class

Manisha Khetan

24,251,407

38.51

Sanchit Derivates Private Limited

8,863,845

14.08

Pentacle Facility Management Private Limited

-

-

Kotak Mahindra Trustee ship Services Limited A/C Kotak Alternate Opportunities (India) Fund

4,907,804

7.79

 

353,851 (Previous Year Nil ) Equity Shares of Face Value of Rs. 2 each are reserved for issue under Employee Stock Option Scheme-2013 (ESOP-2013)

 

Under the ESOS-2013, the Company has granted 353,851 options to the eligible directors and employees of the Company and its subsidiaries, the details of which are given here under:

 

No. of options granted

353851

Grant date

October 1st, 2013

Grant price (per share)

295

Market price on the date of grant

294

Method of accounting

Intrinsic Value

Graded vesting plan

25% every year, commencing after one year or two year, as the case may be, from the date of grant

Maximum exercise period

5 years from the date of grant

 

Summary of the options outstanding under the ESOP and the Weighted Average Exercise Price (WAEP):

 

Particulars

31.03.2014

 

Options

WAEP (in Rs.)

Options outstanding at the beginning of the year

-

-

Granted during the year

353,851

295

Exercised during the year

-

-

Less : Forfeited / lapsed during the year

-

-

Options outstanding at the end of the year **

353,851

295

Vested options pending to be exercised

NA

NA

** Includes 68,966 (Previous year Nil) options granted to Executive director

 

The following summarizes information about outstanding stock options:

 

Exercise Price

294

No. of Shares arising out of options

353,851

Weighted average remaining life ( In Years)

4

Weighted average exercise price (Rs.)

4

 

The Company uses the intrinsic value-based method of accounting for the compensation cost of stock options. Intrinsic value is the amount by which the quoted market price of the underlying shares as on date of the grant exceeds the excercise price of the option. Had the compensation cost of stock options been determined in the manner consistent with the fair value approach based on Black and Scholes model, the Company’s net profit would be lower by Rs. 9,764,198 (Previous Year: lower by Nil ) and Basic/Diluted earning per share (before and after exceptional items) would be Rs. 21.66. The fair value of each option is estimated on the date of grant based on the following assumptions:

 

Dividend yield (%)

0.05%

Expected life - option effective 2014 ( In Years)

3.5

Expected life - option effective 2015 ( In Years)

4.5

Risk free interest rate (%)

8.00%

Volatility (%)

41.70%

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

125.932

125.932

125.932

(b) Reserves & Surplus

5675.249

4945.818

3590.054

(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)

5801.181

5071.750

3715.986

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

6.313

5.724

9.065

(c) Other long term liabilities

16.690

26.980

43.833

(d) long-term provisions

2.615

1.987

1.807

Total Non-current Liabilities (3)

25.618

34.691

54.705

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1190.832

522.235

1382.058

(b) Trade payables

59.307

37.093

28.156

(c) Other current liabilities

750.761

392.704

425.163

(d) Short-term provisions

43.309

19.563

13.288

Total Current Liabilities (4)

2044.209

971.595

1848.665

 

 

 

 

TOTAL

7871.008

6078.036

5619.356

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

79.873

85.015

87.754

(ii) Intangible Assets

0.000

1.592

0.850

(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

3887.604

2476.040

1094.794

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

458.858

730.252

1675.268

(e) Other Non-current assets

0.000

3.901

1.720

Total Non-Current Assets

4426.335

3296.800

2860.386

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

1237.954

1120.073

711.743

(b) Inventories

1762.172

1351.672

1350.806

(c) Trade receivables

162.545

147.912

42.338

(d) Cash and cash equivalents

17.925

27.384

42.569

(e) Short-term loans and advances

67.221

90.553

545.557

(f) Other current assets

196.856

43.642

65.957

Total Current Assets

3444.673

2781.236

2758.970

 

 

 

 

TOTAL

7871.008

6078.036

5619.356

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

930.167

386.566

318.584

 

Other Income

89.253

1328.149

62.944

 

TOTAL

1019.420

1714.715

381.528

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Operating expense

39.204

0.000

0.000

 

Cost of Revenue

 0.000

82.644

63.153

 

Exceptional Items

0.000

0.000

22.306

 

Employees benefits expense

50.057

64.913

41.281

 

Other expenses

71.455

43.668

52.333

 

TOTAL

160.716

191.225

179.073

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

858.704

1523.490

202.455

 

 

 

 

 

Less

FINANCIAL EXPENSES

83.373

96.104

95.921

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

775.331

1427.386

106.534

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

6.752

4.031

3.959

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

768.579

1423.355

102.575

 

 

 

 

 

Less

TAX

21.488

49.970

33.712

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

747.091

1373.385

68.863

 

 

 

 

 

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

Basic

11.86

21.81

1.45

Diluted

11.86

21.81

1.09

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash Generated from/(used in) Operations

NA

2735.050

(663.479)

Net Cash from / (used in) Operating Activities

NA

2680.915

(720.091)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

80.32

355.28

21.62

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

92.32

394.11

63.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

19.29

39.52

2.27

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.28

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.21

0.10

0.37

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.69

2.86

1.49

 

STOCK PRICES

 

Face Value

Rs.2.00/-

Market Value

Rs.289.75/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

125.932

125.932

125.932

Reserves & Surplus

3590.054

4945.818

5675.249

Share Application money pending allotment

0.000

0.000

0.000

Net worth

3715.986

5071.750

5801.181

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

1382.058

522.235

1190.832

Total borrowings

1382.058

522.235

1190.832

Debt/Equity ratio

0.372

0.103

0.205

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

318.584

386.566

930.167

 

 

21.339

140.623

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

318.584

386.566

930.167

Profit

68.863

1373.385

747.091

 

21.62%

355.28%

80.32%

 

 

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

No

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

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

Yes

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

---

33

Market information

---

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Short-term borrowings

 

 

Body corporates

NA

35.093

 

 

 

Total

NA

35.093

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2012

(Rs. in Million)

31.03.2011

(Rs. in Million)

Contingent Liabilities (to the extent not provided for)

 

 

Income Tax Matters

NA

6.208

Total

NA

6.208

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10554379

02/03/2015

1,250,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARAS 
HTRA - 400025, INDIA

C46296703

2

10407467

20/01/2015 *

220,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR 
A (E),, MUMBAI, MAHARASHTRA - 400051, INDIA

C43409945

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible Assets

 

  • Building (Freehold)
  • Furniture and fixtures
  • Office equipment
  • Air Conditioners
  • Computers and Peripherals
  • Furniture and fixtures
  • Air Conditioners

 

Intangible Assets

 

  • Computer Software

 

 

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 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.63.89

UK Pound

1

Rs.99.10

Euro

1

Rs.70.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

54

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.