MIRA INFORM REPORT
|
Report No. : |
345657 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
GREENWAY GRAMEEN INFRA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Chawla Complex Premises, Plot No 38, Near
Croma, Sector 15, CBD Belapur, Navi Mumbai – 400614, Maharashtra |
|
Tel. No.: |
91-22-41239169 |
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|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.12.2010 |
|
|
|
|
Com. Reg. No.: |
11-210549 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.4.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2010PTC210549 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG16267G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG0409N |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business
: |
To carry on business to purchase sustainable development projects in
rural areas related to energy needs, basic infrastructure, product
development and capacity building through innovative means, new technology
introduction and renewable energy asset creation. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. The rating reflects on Greenway Grameen Infra Private Limited small
scale of business operation, low profitability levels, small networth base
and modest deb coverage indicators of the company during FY-2014. However, trade relations are reported to be fair. Business is active.
Payment terms are slow but correct. The company can be considered small 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.
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Ankit Mathur |
|
Designation : |
Director |
|
Contact No.: |
91-9833319269 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Chawla Complex Premises, Plot No 38, Near Croma,
Sector 15, CBD Belapur, Navi Mumbai – 400614, Maharashtra, India |
|
Tel. No.: |
91-22-41239169 / 27575685 |
|
Mobile No.: |
91-9833319269 (Mr. Ankit) |
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Fax No.: |
91-22-27659476 |
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E-Mail : |
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|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sunder Hemrajani |
|
Designation : |
Director |
|
Address : |
D-288, Second Floor, Defence Colony, New Delhi - 110024, India |
|
Date of Birth/Age : |
27.05.1955 |
|
Date of Appointment : |
16.06.2014 |
|
DIN No.: |
01935048 |
|
|
|
|
Name : |
Mr. Ankit Mathur |
|
Designation : |
Director |
|
Address : |
Dorm 3 Room 7 IIM Ahmedabad, Vastrapur, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
28.08.1984 |
|
Date of Appointment : |
02.12.2010 |
|
DIN No.: |
02058198 |
|
|
|
|
Name : |
Mrs. Neha Juneja |
|
Designation : |
Director |
|
Address : |
24 Akash Kunj Plot-14, Sector-9 Rohini, New Delhi - 110085, India |
|
Date of Birth/Age : |
09.07.1985 |
|
Date of Appointment : |
02.12.2010 |
|
DIN No.: |
02118417 |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Ankit Mathur |
5000 |
|
Neha Juneja |
5000 |
|
|
|
|
Total |
10000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Sunder Hemrajani and Kamala Hemrajani |
19999 |
|
CIIE Initiative |
19999 |
|
|
|
|
Total |
39998 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on business to purchase sustainable development projects in
rural areas related to energy needs, basic infrastructure, product development
and capacity building through innovative means, new technology introduction
and renewable energy asset creation. |
|
|
|
|
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 : |
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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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Auditors : |
|
|
Name : |
Shyam Malpani and Associates Chartered Accountants |
|
Address : |
307, Chartered House, 297/299, Dr. Cawasji Hormasji Street, Near
Marine Lines Church, Mumbai – 400002, Maharashtra, India |
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Tel. No.: |
91-22-40311900 |
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Fax No.: |
91-22-40311901 |
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E-Mail : |
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Website : |
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PAN No.: |
AADPM2684D |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Enterprises owned or significantly
influenced by key management personnel or their relatives (Associates) : |
Greenway Eco Development Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
40000 |
0.01% Non-Cumulative Redeemable First Preference Shares |
Rs.100/- each |
Rs.4.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.5.000 Million
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10020 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
39998 |
0.01% Non-Cumulative Redeemable First Preference Shares |
Rs.100/- each |
Rs.4.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.4.100 Million
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
1.805 |
0.651 |
-0.337 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
1.200 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5.905 |
1.951 |
-0.237 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.095 |
1.095 |
2.310 |
|
(b) Deferred tax liabilities (Net) |
0.058 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2.153 |
1.095 |
2.310 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
15.910 |
2.310 |
0.011 |
|
(c) Other
current liabilities |
8.528 |
1.675 |
0.000 |
|
(d) Short-term
provisions |
0.390 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
24.828 |
3.985 |
0.011 |
|
|
|
|
|
|
TOTAL |
32.886 |
7.031 |
2.084 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.277 |
0.239 |
0.000 |
|
(ii)
Intangible Assets |
0.348 |
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 |
0.091 |
0.076 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2.625 |
0.330 |
0.076 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.767 |
5.241 |
0.035 |
|
(c) Trade
receivables |
21.575 |
0.305 |
1.602 |
|
(d) Cash
and cash equivalents |
2.316 |
1.045 |
0.172 |
|
(e) Short-term
loans and advances |
1.105 |
0.000 |
0.199 |
|
(f) Other
current assets |
1.498 |
0.110 |
0.000 |
|
Total
Current Assets |
30.261 |
6.701 |
2.008 |
|
|
|
|
|
|
TOTAL |
32.886 |
7.031 |
2.084 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
91.166 |
25.006 |
3.076 |
|
|
|
Other Income |
6.561 |
5.660 |
0.000 |
|
|
|
TOTAL |
97.727 |
30.666 |
3.076 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
58.014 |
18.108 |
0.000 |
|
|
|
Purchase of finished goods |
0.000 |
0.000 |
2.328 |
|
|
|
Increase in inventory |
0.000 |
0.000 |
(0.035) |
|
|
|
Employee Benefits Expenses |
16.941 |
6.474 |
0.391 |
|
|
|
Operating Expenses |
19.103 |
2.096 |
0.000 |
|
|
|
Other Expenses |
1.501 |
2.502 |
0.805 |
|
|
|
TOTAL |
95.559 |
29.180 |
3.489 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.168 |
1.486 |
(0.413) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.215 |
0.078 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
1.953 |
1.408 |
(0.413) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.799 |
0.420 |
(0.076) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
1.154 |
0.988 |
(0.337) |
|
|
|
|
|
|
|
|
|
|
Earnings in Foreign
currency – FOB basis |
1.018 |
0.086 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
115.21 |
98.56 |
(33.72) |
|
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.27 |
3.95 |
(10.96) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
5.94 |
20.29 |
(20.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.72 |
1.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.35 |
0.56 |
(9.75) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.68 |
182.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
0.100 |
0.100 |
4.100 |
|
Reserves & Surplus |
(0.337) |
0.651 |
1.805 |
|
Share Application money pending
allotment |
0.000 |
1.200 |
0.000 |
|
Net
worth |
(0.237) |
1.951 |
5.905 |
|
|
|
|
|
|
long-term borrowings |
2.310 |
1.095 |
2.095 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
2.310 |
1.095 |
2.095 |
|
Debt/Equity
ratio |
(9.747) |
0.561 |
0.355 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
3.076 |
25.006 |
91.166 |
|
|
|
712.939 |
264.577 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
3.076 |
25.006 |
91.166 |
|
Profit |
(0.337) |
0.988 |
1.154 |
|
|
(10.96%) |
3.95% |
1.27% |
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 |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
Registered office of the company has been
shifted from 307, 3rd Floor, Chawla Complex Premises, Plot No 38,
Near Croma, Sector 15, CBD Belapur Navi Mumbai – 400614, Maharashtra, India to
the present address w.e.f. 22.06.2011
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
From a group
company (Interest Free) |
0.520 |
0.420 |
|
From a body
corporate |
0.300 |
0.300 |
|
From directors
and their relatives (Interest Free) |
1.275 |
0.375 |
|
|
|
|
|
Total |
2.095 |
1.095 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10551737 |
18/09/2014 |
5,000,000.00 |
IDBI Bank Limited |
IDBI Tower, WTC Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
C44911790 |
*Date of modification Charges
FIXED ASSETS:
·
Plant and Machinery
·
Office Equipments
·
Computer and Printers
·
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,
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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
|
28 |
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.