MIRA INFORM REPORT
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Report No. : |
344652 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX BUILDSYS LIMITED (w.e.f. 25.08.2014) |
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Formerly Known
As : |
ERA BUILDSYS LIMITED (w.e.f. 01.11.2013) ERA E-ZONE (INDIA)LIMITED (w.e.f. 20.09.2006) ERA FINANCIAL SERVICES (INDIA) LIMITED |
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Registered
Office : |
B-39, Gorund Floor, Friends Colony (West), New Delhi – 110065 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
06.01.1993 |
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Com. Reg. No.: |
55-051603 |
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Capital
Investment / Paid-up Capital : |
Rs. 137.186 Million |
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CIN No.: [Company Identification
No.] |
L45400DL1993PLC051603 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELE02882F |
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PAN No.: [Permanent Account No.] |
AAACE0280B |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of Pre-engineered buildings,
Multiplexes/Cineplexes, Food Court and real estate etc. |
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No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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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 in the year 1993 having
moderate track. Turnover of the company has sharply declined which has further
resulted into heavy loss incurred by the company during FY 2015. Further, the rating also takes into consideration moderate liquidity
position of the company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-120-4145000 / 4037204)
LOCATIONS
|
Registered Office : |
B-39, Gorund Floor, Friends Colony (West), New Delhi – 110065, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Head Office: |
C-56/41, Sector – 62, Noida – 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4145000 |
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Fax No.: |
91-120-4145052 |
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Head Office : |
B-24, Sector – 3, Noida – 201301, Utter Pradesh, India |
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Tel. No.: |
91-120-4037000 |
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Fax No.: |
91-120-4037029 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Amit Bharana |
|
Designation : |
Whole-time director |
|
Address : |
C-146, 1st Floor, Sarvodaya Enclave, New Delhi – 110017,
India |
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Date of Birth/Age : |
17.10.1981 |
|
Date of Appointment : |
29.09.2008 |
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DIN No.: |
01291420 |
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|
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Name : |
Mr. Shiv Dayal Kapoor |
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Designation : |
Director |
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Address : |
199, P, Sector – 47, Gurgoan – 122002, Haryana, India |
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Date of Birth/Age : |
01.08.1946 |
|
Date of Appointment : |
01.12.2007 |
|
DIN No.: |
00043634 |
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|
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Name : |
Mr. Surya Datta Sharma |
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Designation : |
Director |
|
Address : |
Block C-1, House No. 24, Safdarjung Development Area, New Delhi –
110016, India |
|
Date of Birth/Age : |
08.07.1939 |
|
Date of Appointment : |
18.04.2008 |
|
DIN No.: |
00007098 |
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Name : |
Mr. Chetna Kumar |
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Designation : |
Additional Director |
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Address : |
16a, Railway Officers Colony, Sardar Patel Marg, Chanakyapuri, New Delhi - 110001, India |
|
Date of Appointment : |
10.03.2015 |
|
DIN No.: |
07000207 |
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Name : |
Mr. Hem Singh Bharana |
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Designation : |
Additional Director |
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Address : |
C-146, I Floor, Sarvodaya Enclave, New Delhi - 110017, India |
|
Date of Appointment : |
10.03.2015 |
|
DIN No.: |
00007018 |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Sharma |
|
Designation : |
Secretary |
|
Address : |
2-B, Dayanand Nagar, Ghaziabad – 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
23.06.1984 |
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Date of Appointment : |
30.05.2014 |
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PAN No.: |
CHAPS2763P |
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Name : |
Mr. Sushil Kumar Gupta |
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Designation : |
Chief Financial Officer |
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Address : |
T-37, Indra Colony, Narela, Delhi -110040, India |
|
Date of Appointment : |
30.05.2014 |
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PAN No.: |
ADGPG4567R |
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 |
|
As a % of
(A+B) |
||
|
(A)
Shareholding of Promoter and Promoter Group |
||
|
|
|
|
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|
45766620 |
66.72 |
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|
2606525 |
3.80 |
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|
2606525 |
3.80 |
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|
48373145 |
70.52 |
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|
|
|
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|
2441836 |
3.56 |
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|
2441836 |
3.56 |
|
Total shareholding
of Promoter and Promoter Group (A) |
50814981 |
74.08 |
|
(B) Public
Shareholding |
||
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|
14311623 |
20.86 |
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|
2738211 |
3.99 |
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|
570204 |
0.83 |
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|
157937 |
0.23 |
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|
30536 |
0.04 |
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|
127301 |
0.19 |
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|
100 |
0.00 |
|
|
17777975 |
25.92 |
|
Total Public
shareholding (B) |
17777975 |
25.92 |
|
Total (A)+(B) |
68592956 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
68592956 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Pre-engineered buildings,
Multiplexes/Cineplexes, Food Court and real estate etc. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
160 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : (As on 31.03.2014) |
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Name : |
P C Bindal and Company Chartered Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Wholly Owned
Subsidiaries: (As on 31.03.2014) |
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Associate companies
and Joint Ventures: (As on 31.03.2014) |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.2/- each |
Rs. 400.000 Million |
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68592956 |
Equity Shares |
Rs.2/- each |
Rs. 137.186
Million |
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NOTE:
Reconciliation of shares
outstanding at the beginning and at the end of reporting period Equity Shares
|
|
31.03.2014 |
|
|
|
No of Shares |
Rs. In Million |
|
Equity Shares at the beginning of the year (F.V. 2/-) |
68,592,956 |
137.186 |
|
Add: Allotted during the year |
-- |
-- |
|
Equity Share Capital as per composite Scheme |
-- |
-- |
|
Equity Share Suspense A/c |
-- |
-- |
|
Equity Share at the end of year (F.V.: 2/-) |
68,592,956 |
137.186 |
Terms/right attached
to Equity shares
The company has only one class of equity shares having par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends only in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of
shareholder holding more than 5% shares in the company
|
|
31.03.2014 |
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|
No of Shares |
Rs. In Million |
|
Equity shares of Rs.2 each fully paid |
|
|
|
Add: Allotted during the year |
|
|
|
Sachet Realty Private Limited |
15938150 |
23.24 |
|
Era Infra Engineering Limited |
14131870 |
20.60 |
|
Voice Builders Private Limited |
11983150 |
17.47 |
As per of the company, including its register of shareholders/members and all other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
|
Other details of
Equity Shares for a period of five years immediately
preceding 31.03.2014: |
31.03.2014 |
|
- Aggregate number of shares allotted as fully paid up pursuant to contract without being received in cash * |
44812956 |
|
- Aggregate number of shares allotted as fully paid bonus shares |
NIL |
|
- Aggregate number of shares bought back |
NIL |
* The company has allotted 4,48,12,956/- equity shares on 19th December, 2013 to the shareholders of the transferor company M/s Era Buildsys Limited. in the ratio of 541 equity shares of Era EZONE (India) Limited. for every 100 equity shares of Era Buildsys Limited. as per composite scheme of arrangement of amalgamation duly sanctioned by the Hon’able Delhi High Court.
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 |
137.186 |
137.186 |
137.186 |
|
(b) Reserves & Surplus |
1446.095 |
2207.453 |
2204.599 |
|
(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) |
1583.281 |
2344.639 |
2341.785 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1305.222 |
992.859 |
855.357 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
158.297 |
157.773 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.199 |
3.058 |
8.643 |
|
Total
Non-current Liabilities (3) |
1308.421 |
1154.214 |
1021.773 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1509.496 |
1895.726 |
1346.611 |
|
(b) Trade payables |
486.454 |
457.367 |
662.436 |
|
(c) Other current liabilities |
270.745 |
477.933 |
463.860 |
|
(d) Short-term provisions |
0.124 |
0.709 |
0.754 |
|
Total
Current Liabilities (4) |
2266.819 |
2831.735 |
2473.661 |
|
|
|
|
|
|
TOTAL |
5158.521 |
6330.588 |
5837.219 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
2216.053 |
2326.466 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2073.245 |
0.000 |
198.746 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.722 |
8.873 |
8.858 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.077 |
195.075 |
177.330 |
|
(e) Other Non-current assets |
0.315 |
2.052 |
2.052 |
|
Total
Non-Current Assets |
2105.359 |
2422.053 |
2713.452 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
6.852 |
6.816 |
4.234 |
|
(b) Inventories |
424.318 |
503.621 |
577.518 |
|
(c) Trade receivables |
1782.678 |
2255.148 |
1814.205 |
|
(d) Cash and cash equivalents |
46.685 |
73.735 |
136.573 |
|
(e) Short-term loans and
advances |
0.000 |
460.000 |
0.000 |
|
(f) Other current assets |
792.629 |
609.215 |
591.237 |
|
Total
Current Assets |
3053.162 |
3908.535 |
3123.767 |
|
|
|
|
|
|
TOTAL |
5158.521 |
6330.588 |
5837.219 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1833.574 |
3111.921 |
4826.873 |
|
|
Other Income |
5.185 |
13.374 |
13.058 |
|
|
TOTAL
(A) |
1838.759 |
3125.295 |
4839.931 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
1258.569 |
3098.508 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
40.112 |
26.749 |
|
|
Exceptional Items |
462.026 |
0.000 |
0.000 |
|
|
Direct Expense |
1498.770 |
1041.361 |
646.057 |
|
|
Employees benefits expense |
118.897 |
154.232 |
245.123 |
|
|
Other expenses |
75.130 |
97.647 |
152.114 |
|
|
TOTAL
(B) |
2154.823 |
2591.921 |
4168.551 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(316.064) |
533.374 |
671.380 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
455.735 |
414.505 |
403.966 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(771.799) |
118.869 |
267.414 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
139.750 |
115.491 |
116.150 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(911.549) |
3.378 |
151.264 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(158.297) |
0.524 |
18.414 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(753.252) |
2.854 |
132.850 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Metal Products |
NA |
0.000 |
3.285 |
|
|
Capital Goods |
NA |
0.000 |
0.000 |
|
|
TOTAL
IMPORTS |
NA |
0.000 |
3.285 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(10.98) |
0.04 |
1.94 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(41.08) |
0.09 |
2.75 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(17.24) |
17.14 |
13.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(29.55) |
0.05 |
2.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.58) |
0.00 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.78 |
1.34 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.38 |
1.26 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
260.434 |
177.520 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
(590.557) |
(921.545) |
STOCK
PRICES
|
Face Value |
Rs.2.00/- |
|
Market Value |
Rs.7.11/- |
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 |
137.186 |
137.186 |
137.186 |
|
Reserves & Surplus |
2204.599 |
2207.453 |
1446.095 |
|
Net
worth |
2341.785 |
2344.639 |
1583.281 |
|
|
|
|
|
|
long-term borrowings |
855.357 |
992.859 |
1305.222 |
|
Short term borrowings |
1346.611 |
1895.726 |
1509.496 |
|
Total
borrowings |
2201.968 |
2888.585 |
2814.718 |
|
Debt/Equity
ratio |
0.940 |
1.232 |
1.778 |
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 |
4826.873 |
3111.921 |
1833.574 |
|
|
|
(35.529) |
(41.079) |
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 |
4826.873 |
3111.921 |
1833.574 |
|
Profit |
132.850 |
2.854 |
(753.252) |
|
|
2.75% |
0.09% |
(41.08%) |
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 |
Yes |
|
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
|
|
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 |
NOTE: Registered office of the company has been
shifted from 153, Okhla Industrial Estate, Phase – II, New Delhi – 110020,
India to the present address w.e.f. 05.11.2013
REVIEW OF OPERATIONS
(As on 31.03.2014)
The turnover (revenue from operations) of the Company for the year ended 31st March, 2014 is Rs.3111.921 Million as against Rs.4826.873 Million in the previous year. Profit before depreciation and taxation was Rs.118.869 Million and after providing Rs.115.491 Million towards depreciation and Rs.0.524 Million towards tax, the net profit amounts to Rs.2.854 Million. No material changes have occurred since the date of the Balance sheet and this report, which has any adverse effect on the working of the company.
FUTURE PROSPECTS (As
on 31.03.2014)
Infrastructure development in India has been going through a very difficult phase over the last three years. The Company was able to achieve breakeven, and post a net profit of Rs.2.854 Million for the financial year 2013-14. During the financial year 2013-14, the Hon’ble Delhi High Court by order dated 31st July, 2013 has sanctioned the Composite Scheme of Arrangement and Amalgamation of Era Buildsys Limited with Era E-Zone (India) Limited w.e.f. 1st April, 2012. In terms of the said sanctioned scheme the name of Era E-Zone (India) Limited (Transferee Company) is to be changed to Era Buildsys Limited. The Company is optimistic about the performance of the Company in near future.
MANAGEMENT DISCUSSION
AND ANALYSIS (As on 31.03.2014)
INDUSTRY STRUCTURE
AND DEVELOPMENT
PEB INDUSTRY
Economic indicators show that growth in the PEB industry is expected to outpace India’s GDP growth. The Indian PEB industry has shown a healthy growth rate of around 10% (Y-o-Y). Currently the Indian industry has greater manufacturing capability than demand. Therefore, a lot of PEB companies have decided to add heavy structures and multi-storey buildings to their portfolio.
PEB designs are unique to match the operational requirements of each customer which results in optimum usage of space. This has significant advantage for several applications. The potential of the warehousing market has not been fully explored as far as PEB solutions are concerned. Currently, investments are being made in making industrial and commercial buildings. Once the focus shifts to Indian infrastructure, PEB usage in those applications will go up as well. The concept of green buildings is steadily increasing in India. One of the key reasons for the rise of the PEB industry in recent times has been the increasing emphasis on sustainable building strategies. Also, modern steel manufacturers are making use of energy efficient methods in steel production that helps considerably in reducing Green House Gas (GHG) emissions. Indian PEB industry is fairly similar to that of other countries. They are facing challenges in conditions at construction sites. They are setting up higher safety standards in projects undertaken by us. As a policy, they at Era Buildsys Limited, take care of quality control processes and procedures with their highly technical team. They always make sure that all their products have a technical edge in the market place.
FUTURE OUTLOOK (As on
31.03.2014)
Steel buildings are the fastest systems of industrial construction today and are popular all over the world in the form of Preengineered Buildings (PEB). PEBs are custom-designed, expandable, durable and maintenance free.
Central government’s fast tracking of approvals on infrastructure and industrial projects during the second half of FY 14 are likely to boost the PEB industry. Construction activity, including those of industrial and commercial buildings, is likely to gain momentum over coming quarters. With a clear shift towards PEBs from conventional structures, the PEB segment would grow faster. With newly added capacities at a strategic location and increasing buyer interest in this building technique, the division is poised for rapid growth.
Also, the film industry recorded a double digit growth, albeit slower than in 2012, with multiple movies scoring big on box office collections. Approximately 90-95 per cent movie screens are now digitized in the country, with a shift in focus to tier II and III cities. Going forward, multiplex growth is expected to slow down, in line with the overall delays and future expectations for retail sector and commercial real estate development, impacting box office growth in the short term. However, the long term prospects of the industry are very positive.
The growth in domestic theatrical revenues can be largely attributed to the growth in number of screens via growth of the multiplex segment, coupled with increased ticket prices and a steady supply of content across genres and languages. With metros and most of the tier I markets getting saturated, the focus is now shifting to the tier II and III cities which are experiencing rapid urbanization and greater economic growth. The industry achieved approximately 90-95 per cent digitization of screens, and almost all commercially viable properties have been covered. Digital technology is now enabling reaching the unserved population which sits near the bottom of the pyramid. The key advantages of digital technology are affordability, security and timely access.
Keeping in view the growth prospects of the above mentioned industries, they expect that the growth momentum will prevail and the revenue and profitability of the Company will always be on the up rise.
COMPANY OVERVIEW (As
on 31.03.2014)
Subject was incorporated as a Public Limited Company under the name and style of Era Financial Services (India) Limited on 6th January, 1993 with the office of Registrar of Companies NCT of Delhi and Haryana and obtained the Certificate of Commencement of Business on 2nd February, 1993 from the office of Registrar of Companies NCT of Delhi & Haryana. W.e.f. 20th September, 2006 it changed its name to Era E-Zone (India) Limited consequent upon change in its Main Objects. The company further changed its name to Era Buildsys Limited w.e.f. 1st November, 2013 as per sanctioned scheme of amalgamation/arrangement. Presently Company is engaged in the business of Pre-engineered buildings, Multiplexes/Cineplexes, Food Court and real estate etc. The Company’s registered office is situated at B-39, Ground Floor, Friends Colony (West), New Delhi-110065 The shares of the Company are listed on the Bombay Stock Exchange, Mumbai.
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other Loans and Advances |
NA |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
NA |
142.907 |
|
Total |
NA |
142.907 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10580052 |
07/07/2015 |
1,199,300,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
C58981416 |
|
2 |
10578909 |
03/07/2015 |
44,100,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
C58413980 |
|
3 |
10479559 |
28/12/2013 |
380,000,000.00 |
The Jammu and Kashmir Bank Limited |
A - 17, Ring Road, Lajpat Nagar - IV, New Delhi, |
B97181838 |
|
4 |
10460246 |
25/09/2014 * |
170,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
C23145386 |
|
5 |
10420332 |
23/03/2013 |
150,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
B73355521 |
|
6 |
10321757 |
23/03/2013 * |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
B73355224 |
|
7 |
10316378 |
22/11/2012 * |
1,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj |
B62562442 |
|
8 |
10274619 |
28/02/2011 |
3,890,227.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maha |
B08404766 |
|
9 |
10255586 |
23/10/2010 |
901,172.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maha |
B00816868 |
|
10 |
10247148 |
24/09/2010 |
901,172.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maha |
A96868021 |
* Date of charge modification
CONTINGENT
LIABILITIES: (As on 31.03.2014)
- In respect of guarantees and letters of credit issued by bank and outstanding as at 31st March, 2014 is Rs.208.322 Million (net of margin) (Prev. Year Rs.5,69.225 Million (Net of Margin).
- The company has executed bonds aggregating to Rs.107.295 Million in favour of Jurisdictional Deputy Commissioner of Customs, against Import of Capital Goods at concessional rates under EPCG scheme for which the Company has agreed to fulfill Export obligation for Rs.332.878 Million within a period of eight/six years from the date of issue of respective EPCG license. The total outstanding export obligation as on 31st March, 2014 is Rs.65.730 Million and liability in respect thereof till the year ended 31st March, 2014 is Rs.8.665 Million.
- In respect of Sales Tax amounting to Rs.78.517 Million (P.Y. Rs.31.897 Million) for pending statutory forms.
FIXED ASSETS
- Leasehold Land
- Buildings and Leasehold improvement
- Plant and Equipment
- Furniture and Fixtures
- Vehicle
- Office Equipment
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.73.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.