MIRA INFORM REPORT
|
Report No. : |
311085 |
|
Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CUBE CONSTRUCTION ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
1, Chandramani Nagar, Vidya Vihar School Lane, Off High Tension Road,
Subhanpura, Vadodara – 390023, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.04.2006 |
|
|
|
|
Com. Reg. No.: |
04-048119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 150.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200GJ2006PLC048119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDC01050A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC8103D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activities and also recently started Hotel
Business. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of a partnership concern started in 1994. Subsequently
it was reconstructed as a limited company in 2006 having satisfactory track
record. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters and long standing presence in
construction and infrastructure segments, 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 – 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 29, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
January 29, 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
31-03-2014.
LOCATIONS
|
Registered Office : |
1, Chandramani Nagar, Vidya Vihar School Lane, Off High Tension Road,
Subhanpura, Vadodara – 390023, Gujarat, india |
|
Tel. No.: |
91-265-2393209/ 2398190 |
|
Fax No.: |
91-265 2391552 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sanjay Chhotalal Shah |
|
Designation : |
Managing director |
|
Address : |
10, Atmajyoti Nagar Society, Opposite Atma Jyoti Ashram, Vadodara - 390023,
Gujarat, India |
|
Date of Birth/Age : |
16.12.1968 |
|
Qualification : |
B.E. Civil |
|
Experience : |
24 Years |
|
Date of Appointment : |
10.04.2006 |
|
PAN No.: |
AFOPS7341R |
|
DIN No.: |
00068655 |
|
|
|
|
Name : |
Mrs. Bindya Sanjay Shah |
|
Designation : |
Director |
|
Address : |
10, Atmajyoti Nagar Society, Opposite Atma Jyoti Ashram, Vadodara -
390023, Gujarat, India |
|
Date of Birth/Age : |
18.01.1970 |
|
Qualification : |
B. Com |
|
Experience : |
21 Years |
|
Date of Appointment : |
10.04.2006 |
|
PAN No.: |
AGAPS7389E |
|
DIN No.: |
00068665 |
|
|
|
|
Name : |
Mr. Nilesh Arvindbhai Gandhi |
|
Designation : |
Director |
|
Address : |
J 19/20, Gokulvatika Cooperative Housing Society, Opposite Air Port, Harni
Road, Vadodara - 390022, Gujarat, India |
|
Date of Birth/Age : |
06.08.1967 |
|
Qualification : |
BE Civil |
|
Date of Appointment : |
10.04.2006 |
|
DIN No.: |
00068662 |
|
|
|
|
Name : |
Mr. Sanjay Devendra Shah |
|
Designation : |
Director |
|
Address : |
1002, TWR-A Nest House, Opposite DC Patel College, Newcity Light Road,
B/H. Chinagate Soc-2, Surat - 395007, Gujarat, India |
|
Date of Birth/Age : |
11.06.1966 |
|
Qualification : |
BE Civil |
|
Date of Appointment : |
06.06.2006 |
|
DIN No.: |
00356104 |
|
|
|
|
Name : |
Mr. Atul Bhagwandas Shah |
|
Designation : |
Director |
|
Address : |
301, Balaji Residency, Nizampura, Vadodara - 390002, Gujarat, India |
|
Date of Birth/Age : |
20.07.1961 |
|
Qualification : |
Diploma Civil |
|
Date of Appointment : |
06.06.2006 |
|
DIN No.: |
00356255 |
|
|
|
|
Name : |
Mr. Birju Chhotalal Shah |
|
Designation : |
Director |
|
Address : |
Waniyawad, Bhuj, Kachchh - 370001, Gujarat, India |
|
Date of Birth/Age : |
10.12.1973 |
|
Qualification : |
Diploma Civil |
|
Date of Appointment : |
06.06.2006 |
|
PAN No.: |
AFXPS9491M |
|
DIN No.: |
00356286 |
|
|
|
|
Name : |
Mr. Vinodray Ramjibhai Jhalavadia |
|
Designation : |
Director |
|
Address : |
25, Avsar Row House, Behind Renuka Bhavan, Punagam to Bombay Market
Road, Surat - 395006, Gujarat, India |
|
Date of Birth/Age : |
30.05.1966 |
|
Qualification : |
BE CIVIL |
|
Date of Appointment : |
17.11.2009 |
|
DIN No.: |
02839630 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh Anilbhai Patel |
|
Designation : |
Secretary |
|
Address : |
1724, Dhobi Ni Khadaki, Kapadiwad,, Raipur, Ahmedabad - 380001, Gujarat, India |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
APZPP2805E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
22.26 |
|
Directors
or relatives of directors |
77.69 |
|
Others
|
0.05 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activities and also recently started Hotel
Business. |
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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 : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
· Manfara Gram Vikas Samiti · Gems and Jewellery National Relief Foundation · BSF · Gujarat Tourism · Surat Mahanagar Seva Sadan · Jindal Saw Limited · Gujarat Housing Board · BNC Housing Colony (Asia Motor) · Euro Multivision Limited |
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No. of Employees : |
Not Available |
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Bankers : |
· Dena Bank Industrial Finance Branch, 2nd Floor, Dena Laxmi Building, 188-A, Ashram Road, Ahmedabad - 380009, Gujarat, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D, Nariman Point,, Mumbai -
400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shah Sanghvi and Company Chartered Accountants |
|
Address : |
2, "Samarpan, 26 Haribhakti Colony, Race Course
Circle, Vadodara – 390015, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AITPS7518Q |
|
|
|
|
Subsidiary company : |
· Sphere Cube Infrastructure Private Limited [U45201GJ2007PTC052216] · Cube Mines and Minerals Private Limited [U14299GJ2004PTC044502] · Sancube Infra Projects Private Limited [U45201GJ2009PTC058943] · Optima Cube Inframaterials Private Limited · Iolite Cube Inframaterial Private Limited [U26914GJ2011PLC064870] · Aash Cube Lighting Private Limited · Cube Ashoka Joint Venture Co · Sankalp Enterprises · Gujarat Chlor Alkali Industries Limited · Aces Minechem Private Limited ·
Aikya Chemicals Private Limited
[U24100GJ2011PTC068018] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
150.000 |
150.000 |
150.000 |
|
(b) Reserves & Surplus |
1125.107 |
804.676 |
499.408 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
6.189 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1281.296 |
954.676 |
649.408 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
31.545 |
75.238 |
131.970 |
|
(b) Deferred tax liabilities (Net) |
7.265 |
5.397 |
4.444 |
|
(c)
Other long term liabilities |
0.000 |
287.016 |
124.937 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
38.810 |
367.651 |
261.351 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
685.719 |
523.178 |
457.238 |
|
(b)
Trade payables |
796.489 |
669.769 |
359.993 |
|
(c)
Other current liabilities |
315.349 |
253.334 |
274.622 |
|
(d)
Short-term provisions |
232.501 |
157.741 |
108.484 |
|
Total
Current Liabilities (4) |
2030.058 |
1604.022 |
1200.337 |
|
|
|
|
|
|
TOTAL |
3350.164 |
2926.349 |
2111.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
347.466 |
362.552 |
280.298 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.812 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
371.976 |
371.949 |
302.498 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
475.601 |
277.092 |
103.176 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1195.043 |
1011.593 |
692.784 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
309.951 |
292.828 |
79.137 |
|
(c)
Trade receivables |
645.056 |
353.424 |
565.930 |
|
(d)
Cash and cash equivalents |
441.184 |
555.195 |
240.950 |
|
(e)
Short-term loans and advances |
758.930 |
713.309 |
532.295 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2155.121 |
1914.756 |
1418.312 |
|
|
|
|
|
|
TOTAL |
3350.164 |
2926.349 |
2111.096 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4982.842 |
3874.664 |
3174.094 |
|
|
|
Other Income |
33.142 |
34.172 |
14.642 |
|
|
|
TOTAL (A) |
5015.984 |
3908.836 |
3188.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2841.402 |
2504.592 |
1804.578 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.730) |
(183.353) |
24.028 |
|
|
|
Employees benefits expense |
218.942 |
172.164 |
136.328 |
|
|
|
Other expenses |
1360.016 |
869.906 |
863.719 |
|
|
|
TOTAL (B) |
4392.630 |
3363.309 |
2828.653 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
623.354 |
545.527 |
360.083 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.803 |
84.241 |
90.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
518.551 |
461.286 |
269.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.060 |
45.864 |
44.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
476.491 |
415.422 |
225.082 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
156.061 |
127.587 |
74.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
320.430 |
287.835 |
150.876 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.36 |
19.19 |
10.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.43 |
7.43 |
4.75 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.51 |
14.08 |
11.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.00 |
16.26 |
12.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.44 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56 |
0.63 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.19 |
1.18 |
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) |
|
Share Capital |
150.000 |
150.000 |
150.000 |
|
Reserves & Surplus |
499.408 |
804.676 |
1125.107 |
|
Share Application money pending allotment |
0.000 |
0.000 |
6.189 |
|
Net
worth |
649.408 |
954.676 |
1281.296 |
|
|
|
|
|
|
Long-term borrowings |
131.970 |
75.238 |
31.545 |
|
Short term borrowings |
457.238 |
523.178 |
685.719 |
|
Total
borrowings |
589.208 |
598.416 |
717.264 |
|
Debt/Equity
ratio |
0.907 |
0.627 |
0.560 |
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) |
|
Sales |
3174.094 |
3874.664 |
4982.842 |
|
|
|
22.071 |
28.601 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3174.094 |
3874.664 |
4982.842 |
|
Profit |
150.876 |
287.835 |
320.430 |
|
|
4.75% |
7.43% |
6.43% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10424523 |
12/03/2013 |
1,760,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B74701459 |
|
2 |
10403641 |
08/02/2013 |
6,800,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B68397157 |
|
3 |
10295117 |
21/05/2011 |
4,860,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B16167306 |
|
4 |
10287563 |
30/04/2011 |
4,840,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B13072285 |
|
5 |
10278560 |
18/03/2011 |
1,200,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B09897596 |
|
6 |
10278563 |
18/03/2011 |
1,640,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B09897943 |
|
7 |
10258376 |
24/12/2014 * |
2,530,000,000.00 |
DENA BANK |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR,, DENA LAXMI |
C40307670 |
|
8 |
10171189 |
04/12/2014 * |
2,530,000,000.00 |
DENA BANK |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR,, DENA LAXMI |
C36390540 |
|
9 |
10168393 |
30/06/2009 |
3,812,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A66680901 |
|
10 |
10168400 |
30/06/2009 |
3,812,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A66677097 |
|
11 |
10169097 |
30/06/2009 |
3,812,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A66883794 |
|
12 |
10169321 |
30/06/2009 |
3,812,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A66674995 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
4.000 |
0.000 |
|
Other loans and advances |
0.000 |
1.269 |
|
|
|
|
|
Total |
4.000 |
1.269 |
COMPANY INFORMATION
Subject is a Limited Company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The Company is
engaged in construction activities and has recently started hotel business.
Company's registered office is situated at 1, Chandramani Nagar, Subhanpura,
Vadodara - 23.
SUCCESSFUL COMPLETED
AND ONGOING PROJECTS DURING THE FINANCIAL YEAR:
This business includes construction of Residential / non-residential / Institutional / Industrial / Infrastructure as well as other civil construction projects. Company is a one of the largest Construction Company in Gujarat and also completed many Government / Non Government / PSU's Projects. Construction activities covered selected home markets viz. Baroda, Surat, Ahmedabad, Patan, etc. also some parts of India.
During the financial year, your company has completed / bagged some of the prestigious projects in Building Work, Institutional Bldg., Low Cost Housing, Infrastructure Facilities Segment viz. Multistoried Residential Complex for Gujarat Housing Board at Vadodara, Surat, Bhuj, Ahmedabad Multistoried Boys and Girls Hostel at Vadodara and Surat, Medical College, Kidney Hospital, Stem Cell Research Bldg, Finishing work of Civil Hospital at Ahmedabad, teaching and Medical College at Himmatnagar, Dental College and Ayurvedic College Patan. for Project Implementation Unit, Health and Family Welfare Dept., GoG.
The Company has continued registration with GOG as AA Class, Special Category 1 Road, Bldg., now registered with India's leading Organization Military Engineering Services under Super Saver Unlimited category and becomes Gujarat's one of the leading construction company.
The Company is committed towards Workmanship, Health and
Safety, Procurement of Materials and positive management. The way CCEL will
move forward, will take greater advantage of financial strength - strong cash
flow from Construction operations is the engine - in order to do even more.
Expansion in project development, where earn a high return on investments.
Company has already geared up the execution and bagging more projects,
definitely the company will make new level of turnover in the next Financial
Year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
- Performance Guarantees |
1228.243 |
597.269 |
|
- Corporate Guarantee- for loans taken by subsidiary companies |
700.057 |
673.000 |
|
|
|
|
|
Total |
1928.300 |
1270.269 |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
·
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.20 |
|
|
1 |
Rs. 94.71 |
|
Euro |
1 |
Rs. 68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.