MIRA
INFORM REPORT
|
Report No. : |
334355 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIRANANDANI DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
514, |
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Tel. No.: |
91-22-25766847 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.02.1991 |
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Com. Reg. No.: |
11-060350 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
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CIN No.: [Company Identification
No.] |
U70100MH1991PTC060350 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH1134K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in construction activities. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 1991.
It has a moderate record of accomplishment. For the financial year 2014, the company has an average operational
activity along with minimal profit earnings. The rating is constrained on account of company’s modest financial
risk profile marked by leveraged balance sheet profile. Trade relations are reported as fair. Business is active. Payments
terms are slow but correct. In view of long business track record and good management structure,
the company can be considered for business dealings with some cautions. |
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
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 DENIED BY
|
Name : |
Mr. Girish Papat |
|
Designation : |
Consultant |
|
Contact No.: |
91-22-25763600 |
|
Date : |
29.07.2015 |
|
Name : |
Mr. Arpit |
|
Designation : |
Finance Executive |
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Contact No.: |
91-22-25766731 |
|
Date : |
29.07.2015 |
LOCATIONS
|
Registered Office : |
514, Dalamal Towers, 211 F P J Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-25766847 / 25763600 / 25766731 |
|
Fax No.: |
91-22-25706444 |
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E-Mail : |
papat.girish@hiranandani.net info@hiranandani.net hsecretarial@rediffmail.com sales@hiranandani.net |
|
Website : |
www.hiranandani.com |
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|
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Head Office : |
Olympia, Central Avenue, Hiranandani
Gardens, Powai, Mumbai - 400076, Maharashtra, India |
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Tel. No.: |
91-22-25766724/29 |
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Fax No.: |
91-22-25706444 |
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Location : |
Owned |
|
Site Office : |
Hiranandani Estate, Thane Behind Municipal Commissioner's Bungalow, Patlipada,
Off Thane (West) - 400607, Maharashtra, India Phone : 91- 22-2545 8001/ 2545 8760 / 63 Hiranandani Meadows, Thane Phone : 91-22-2171 5656 / 58 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mrs. Kamal Niranjan Hiranandani |
|
Designation : |
Director |
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Address : |
Olympia, Main Gate, Central Avenue,, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India |
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Date of Birth/Age : |
08.12.1957 |
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Date of Appointment : |
11.01.1994 |
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DIN No.: |
00011521 |
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Name : |
Mr. Surendra Lakhumal Hiranandani |
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Designation : |
Director |
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Address : |
Neptune Court,, 60 Nepean Sea Road,, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
30.12.1954 |
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Date of Appointment : |
18.02.1991 |
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DIN No.: |
00011487 |
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Name : |
Mr. Niranjan Lakhumal Hiranandani |
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Designation : |
08.03.1950 |
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Address : |
514, Dalamal Towers, 211, FPJ Marg, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1950 |
|
Date of Appointment : |
18.02.1991 |
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DIN No.: |
00011923 |
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Name : |
Mrs. Alka Bhatia Hiranandani |
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Designation : |
Director |
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Address : |
Neptune Court, 60 Nepean Sea Road, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
17.09.1971 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
06705479 |
KEY EXECUTIVES
|
Name : |
Mr. Girish Papat |
|
Designation : |
Consultant |
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|
Name : |
Mr. Arpit |
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Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Kamal Niranjan
Hiranandani |
101000 |
10.10 |
|
Surendra Lakhumal
Hiranandani |
179500 |
17.95 |
|
Niranjan Lakhumal
Hiranandani |
353000 |
35.30 |
|
Darshan N. Hiranandani |
46000 |
4.60 |
|
Neha S. Hiranandani |
56668 |
5.67 |
|
Surendra Hiranandani HUF |
263832 |
26.38 |
|
Total |
1000000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
73.62 |
|
Other top fifty shareholders |
26.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in construction activities. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs. In Million)
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Auditors : |
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Name : |
S.H. Patrawala and Company Chartered Accountants |
|
Address : |
513, Dalamal Towers, Nariman
Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-22876060 / 61 |
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Fax No.: |
91-22-22832010 |
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PAN No.: |
AAAPP7025J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related party : |
Roma Builders Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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|
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(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves &
Surplus |
(66.895) |
(68.117) |
(64.778) |
|
(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) |
(56.895) |
(58.117) |
(54.778) |
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(3) Non-Current
Liabilities |
|
|
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
1.757 |
1.720 |
1.719 |
|
(c) Other long term
liabilities |
30.000 |
30.000 |
30.225 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
31.757 |
31.720 |
31.944 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
137.352 |
140.880 |
140.889 |
|
(b) Trade payables |
0.000 |
0.002 |
0.104 |
|
(c) Other current
liabilities |
0.123 |
0.347 |
0.106 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
137.475 |
141.229 |
141.099 |
|
|
|
|
|
|
TOTAL |
112.337 |
114.832 |
118.265 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i)
Tangible assets |
21.332 |
23.556 |
26.415 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.770 |
2.769 |
2.769 |
|
(e) Other Non-current
assets |
0.929 |
0.929 |
0.000 |
|
Total Non-Current Assets |
25.031 |
27.254 |
29.184 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
77.843 |
77.843 |
77.843 |
|
(c) Trade receivables |
1.223 |
1.223 |
1.223 |
|
(d) Cash and cash
equivalents |
0.427 |
0.664 |
1.351 |
|
(e) Short-term loans and
advances |
7.736 |
7.848 |
7.735 |
|
(f) Other current assets |
0.077 |
0.000 |
0.929 |
|
Total Current Assets |
87.306 |
87.578 |
89.081 |
|
|
|
|
|
|
TOTAL |
112.337 |
114.832 |
118.265 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
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Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
|
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|
|
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|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.258 |
(3.511) |
(1.709) |
|
|
|
|
|
|
|
Less |
TAX |
0.037 |
(0.173) |
0.306 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.221 |
(3.338) |
(2.015) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.22 |
(3.33) |
(2.015) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in ) operating activites |
(0.246) |
(0.951) |
(5.366) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.12 |
(3.06) |
(1.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.06 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(2.41) |
(2.42) |
(2.57) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.62 |
0.63 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
(64.778) |
(68.117) |
(66.895) |
|
Net worth |
(54.778) |
(58.117) |
(56.895) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
140.889 |
140.880 |
137.352 |
|
Total borrowings |
140.889 |
140.880 |
137.352 |
|
Debt/Equity ratio |
(2.572) |
(2.424) |
(2.414) |
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 |
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 |
No |
|
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 |
No |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs. In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Kamal Hiranandani |
43.589 |
43.589 |
|
Niranjan Hiranandani |
24.855 |
26.355 |
|
Surendra Hiranandani |
68.444 |
69.944 |
|
Total |
136.888 |
139.888 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90167158 |
05/04/2004 |
150,000,000.00 |
UNION BAK OF INDIA |
PRINCESS STREET;
DEVKARAN MENSION; SHAMALDAS GHAND |
- |
|
2 |
90163451 |
19/11/1996 |
20,000,000.00 |
SBI COMMERCIAL AND INTERNATIONAL BANK LIMITED |
MAKER CHMBER; NARIMON POINT, MUMBAI - 400021, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Air Conditioner
·
Computer
·
Electric Equipment
·
Furniture and Fixtures
·
Machinery
·
Office Equipments
·
Plant and Machinery
·
Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for
violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No 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 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.