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MIRA INFORM REPORT
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Report No. : |
489212 |
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Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
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Name : |
BRIGADE ENTERPRISES LIMITED |
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Registered
Office : |
29th and 30th Floor, World Trade Center, 26/1, Brigade Gateway, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bangalore – 560055, Karnataka |
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Tel. No.: |
91-80-41379200/40467600 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
08.11.1995 |
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Com. Reg. No.: |
08-019126 |
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Capital
Investment / Paid-up Capital : |
INR 1136.600 Million |
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CIN No.: [Company Identification
No.] |
L85110KA1995PLC019126 |
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IEC No.: |
0799016411 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB7459F |
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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
: |
The Company is carrying on the business of real estate
development, leasing and hospitality and related services. (Registered
Activity) |
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No. of Employees
: |
658 (Approximately) |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 48000000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the “Brigade Group”. The company was incorporated in the year 1995. It is engaged in Real Estate Development, Leasing and Hospitality and related services. For the financial year 2017, the revenue of the company has increased by 4.84% along with fair profit margin of 9.98%. The healthy financial profile of the company is marked by strong networth base along with negligible debt level. The rating takes into consideration equity infused by its promoters. The company has its share price trading at around INR 280.05 against the face value (FV) of INR 10 on BSE as on 30th January, 2018. Rating also takes into account the strong financial and managerial support that company receives from Brigade Group backed by its well experienced management team. Rating also derives strength from long established track record of business operation of the company. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payments seems to be slow but correct. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Long Term = A |
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Rating Explanation |
Adequate degree of safety and low credit
risk. |
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Date |
14.11.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term = A1 |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
14.11.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non Co-Operative (91-80-40467600/41329200)
Number is continuously ringing = 91-824-2456844
LOCATIONS
|
Registered Office/corporate office : |
29th and 30th Floor, World Trade Center, 26/1, Brigade Gateway, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bangalore – 560055, Karnataka |
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Tel. No.: |
91-80-41379200/40467600 |
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Fax No.: |
91-80-41379321/22210784 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
Brigade Point, Gokulam Road V.V.Mohalla, Mysore – 570002, Karnataka, India |
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Tel. No.: |
91-821-4252239 |
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Fax No.: |
91-80-22210784 |
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Branch Office 2 : |
Brigade Pinnacle, Sy No. 57/B, Near Derebail Church
Bejai-Kavoor Road, |
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Tel. No.: |
91-824-2456844 |
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Branch Office 3 : |
Mogappair (West), Mangalore, India |
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Email : |
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Branch Office 4 : |
Door No. 39/5993, Plot No.213, Panampally Nagar, Kochi, Kerala, India |
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Tel. No.: |
91-484-4044494 |
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Branch Office 5 : |
G3, Ground Floor, Ashoka Capitol, Near KBR Park, Road No. 2, Banjara Hills, Hyderabad - 500 034, Telangana, India |
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Tel. No.: |
91-40-40245788 |
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Branch Office 6 : |
P.O. Box No. 49191, 708, Atrium Center, Bank Street, Bur Dubai |
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Tel. No.: |
+971 4 355 5504 |
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Fax No.: |
04 3555541 |
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Email : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mysore Ramachandrasetty Jaishankar |
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Designation : |
Managing Director |
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Address : |
Shanthiniketan, 15/3-1, Palace Road, Bangalore – 560052,
Karnataka, India |
|
Date of Appointment : |
01.04.2007 |
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DIN No.: |
00191267 |
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Name : |
Srinivasa Murthy |
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Designation : |
Director |
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Address : |
355, 1st E Cross, 6th Block, 2nd Phase BSK, 3rd Stage,
Bangalore – 560085, Karnataka, India |
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Date of Appointment : |
28.10.2009 |
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DIN No.: |
00167877 |
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Name : |
Parampally Vasudeva Maiya |
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Designation : |
Director |
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Address : |
106-Sowmya Springs, Dewan M Rao Road, Basavanagudi,
Bangalore – 560004, Karnataka, India |
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Date of Appointment : |
06.03.2000 |
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DIN No.: |
00195847 |
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Name : |
Aroon Raman |
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Designation : |
Director |
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Address : |
No.100, 5th Main Paramahamsa Road, Yadavagiri, Mysore –
570020, Karnataka, India |
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Date of Appointment : |
29.10.2013 |
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DIN No.: |
00201205 |
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Name : |
Lakshmi Venkatachalam |
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Designation : |
Director |
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Address : |
#301, Johore House, 35/36, 18th Cross 8th Main,
Malleswaram, Bangalore – 560003, Karnataka, India |
|
Date of Appointment : |
01.02.2016 |
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DIN No.: |
00758451 |
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Name : |
Shivram Ramachandra Setty Mysore |
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Designation : |
Director |
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Address : |
3009/2-3, 18th A Cross, Ii Main, BSK Ii Stage, Bangalore –
560070, Karnataka, India |
|
Date of Appointment : |
08.11.1995 |
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DIN No.: |
00824560 |
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Name : |
Mysore Ramachandrasetty Gurumurthy |
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Designation : |
Wholetime Director |
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Address : |
Sundar Lakshmi Spencer Road, Chikmagalur – 577101,
Karnataka, India |
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Date of Appointment : |
08.11.1995 |
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DIN No.: |
01367579 |
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|
Name : |
Githa Shankar |
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Designation : |
Wholetime Director |
|
Address : |
No. 15/3-1, Shanthi Niketan Palace Road, Vasanth Nagar,
Bangalore – 560052, Karnataka, India |
|
Date of Appointment : |
08.11.1995 |
|
DIN No.: |
01612882 |
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|
|
|
Name : |
Bijou Kurien |
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Designation : |
Director |
|
Address : |
#33/2, Grant Road, Bangalore – 560001, Karnataka,
India |
|
Date of Appointment : |
31.01.2015 |
|
DIN No.: |
01802995 |
KEY EXECUTIVES
|
Name : |
P. Om Prakash |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
63609256 |
46.75 |
|
|
(B) Public |
72465355 |
53.25 |
|
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Grand Total |
136074611 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
6,34,77,739 |
46.65 |
|
|
M R Shivram (HUF) |
20,35,847 |
1.50 |
|
|
M R Jaishankar (HUF) |
27,64,125 |
2.03 |
|
|
Githa Shankar |
1,87,00,500 |
13.74 |
|
|
M R Gurumurthy |
11,37,722 |
0.84 |
|
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Mysore Ramachandrasetty Jaishankar |
2,30,45,064 |
16.94 |
|
|
A R Rukmini |
2,39,533 |
0.18 |
|
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M R Shivram |
17,41,243 |
1.28 |
|
|
G R Arundhati |
5,35,393 |
0.39 |
|
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M R Krishna Kumar |
39,51,687 |
2.90 |
|
|
Nirupa Shankar |
93,26,625 |
6.85 |
|
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Any Other (Specify) |
1,31,517 |
0.10 |
|
|
Mysore Holdings Private Limited |
1,31,517 |
0.10 |
|
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Sub Total A1 |
6,36,09,256 |
46.75 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
6,36,09,256 |
46.75 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
No. of fully paid
up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
16879362 |
12.40 |
|
|
Icici Prudential Value Fund - Series 6 |
4397709 |
3.23 |
|
|
L And T Mutual Fund Trustee Limited-L And T Monthly Income Plan |
3030978 |
2.23 |
|
|
Sundaram Mutual Fund A/C Sundaram Smile Fund |
1823218 |
1.34 |
|
|
Tata Equity Opportunities Fund |
1704901 |
1.25 |
|
|
Franklin India Smaller Companies Fund |
5207887 |
3.83 |
|
|
Foreign Portfolio Investors |
17490666 |
12.85 |
|
|
The Nomura Trust And Banking Co. Limited As The Trustee Of Nomura India Stock Mother Fund |
5352084 |
3.93 |
|
|
Government Pension Fund Global |
2172113 |
1.60 |
|
|
Kotak Funds-India Midcap Fund |
3395789 |
2.50 |
|
|
Financial Institutions/ Banks |
831692 |
0.61 |
|
|
Insurance Companies |
2556914 |
1.88 |
|
|
Kotak Mahindra Life Insurance Company Limited. |
2117354 |
1.56 |
|
|
Sub Total B1 |
37758634 |
27.75 |
|
|
B2) Central Government/ State Government(S)/ President Of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual Share
Capital Upto INR 0.200 Million |
4867785 |
3.58 |
|
|
Individual Share
Capital In Excess of INR 0.200 Million |
25913115 |
19.04 |
|
|
Suchetha Mahesh |
1450141 |
1.07 |
|
|
Ashish Dhawan |
1364309 |
1.00 |
|
|
Suraj Gurumurthy Mysore |
5116358 |
3.76 |
|
|
M S Ravindra |
1905904 |
1.40 |
|
|
Arthi D Vummidi |
1555967 |
1.14 |
|
|
M K Manjula |
3547687 |
2.61 |
|
|
Nbfcs Registered With RBI |
6368 |
0.00 |
|
|
Any Other (Specify) |
3919453 |
2.88 |
|
|
Trusts |
139 |
0.00 |
|
|
Nri |
263676 |
0.19 |
|
|
Clearing Members |
49036 |
0.04 |
|
|
Nri – Non- Repat |
28697 |
0.02 |
|
|
Bodies Corporate |
3567865 |
2.62 |
|
|
ICICI Lombard General Insurance Company Limited |
2000000 |
1.47 |
|
|
IEPF |
10040 |
0.01 |
|
|
Sub Total B3 |
34706721 |
25.51 |
|
|
B=B1+B2+B3 |
72465355 |
53.25 |
BUSINESS DETAILS
|
Line of Business : |
The Company is carrying on the business of real estate development,
leasing and hospitality and related services. (Registered Activity) |
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Products / Services
: |
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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 : |
658 (Approximately) |
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Bankers : |
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Facilities : |
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Internal Auditors : |
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Name : |
Grant Thornton Chartered Accountants |
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Address : |
Wings, First Floor, 16/1 Cambridge Road, Halasuru Bangalore - 560008,
Karnataka, India |
|
|
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
Deloitte Centre, Anchorage II 100/2, Richmond Road, Bangalore –
560025, Karnataka, India |
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Statutory Auditors : |
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|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
UB City, Canberra Block, 12 Floor No 24, Vittal Mallya Road, Bangalore
– 560001, Karnataka, India |
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Tel No.: |
91-80-67275000 |
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Fax No.: |
91-80-22106000 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries: |
· Brigade Hospitality Services Limited U55101KA2004PLC034060 · Brigade Tetrarch Private Limited U70101KA2006PTC041132 · Brigade Estates and Projects Private Limited U70101KA2006PTC041132 · Brigade Properties Private Limited U70200KA2007PTC042824 · Brigade Infrastructure and Power Private Limited U70109KA2007PTC044008 · BCV Developers Private Limited U45201KA2008PTC045861 · WTC Trades and Projects Private Limited U74900KA2010PTC056191 · Orion Mall Management Company Limited U70109KA2011PLC060288 · SRP Prosperita Hotel Ventures Limited (formerly Prosperita Hotel Ventures Limited) - U55101KA2012PLC099437 · Celebration Catering and Events, LLP · Brigade Gujarat Projects Private Limited U70100KA2015PTC079490 · "Brookefield Real Estates and Projects Private Limited (formerly Brooke Bond Real Estates Private Limited)" - U70100KA2007PTC085237 · Perungudi Real Estates Private Limited U70200TN2015PTC102278 · Augusta Club Private Limited U74999KA2016PTC096214 · Mysore Projects Private Limited U70102KA2010PTC054771 · Brigade Hotel Ventures Limited U74999KA2016PLC095986 ·
Brigade Innovations LLP |
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Associates: |
· Tandem Allied Services Private Limited U70102KA2000PTC027302 |
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Jointly controlled
entities: |
· BCV Developers Private Limited · CV Properties (Bangalore) Private Limited · BCV Estates Private Limited |
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Enterprises owned
or significantly influenced by KMP: |
· Mysore Holdings Private Limited · Brigade Foundation Trust · M.R. Jaishankar (HUF) "MRJ" Indian Music Experience · Indian Music Experience Trust · Alta Collis LLC |
CAPITAL STRUCTURE
AS ON 21.09.2017
Authorised Capital : INR 1500.000 Million
Issued, Subscribed & Paid-up Capital : INR 1360.746
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares(March 31, 2016: 1,500 lakhs, April 01, 2015:
1,500 lakhs) Equity shares |
INR 10/- each |
INR 1500.000Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113660000 |
Equity Shares(March 31, 2016: 1,132 lakhs, April 01, 2015:
1,128 lakhs) Equity shares |
INR 10/- each |
INR 1136.600 Million |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Name of
Shareholder |
Number of Shares (in Lacks) |
INR in Million |
|
At the beginning of the
year |
1132 |
1131.800 |
|
Issued during the year
pursuant to the |
4 |
4.800 |
|
exercise of stock
options |
-- |
-- |
|
Balance at the end of
the year |
1136 |
1136.600 |
(b) Terms/ rights attached to equity shares
The Company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of director is subject to the approval of the shareholders in the ensuing Annual General meeting. In event of liquidation of the Company, the holders of equity shares would 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.
(c) Details of
shareholders holding more than 5% shares in the company
|
Particular |
No. of Shares in lakhs |
% holding |
|
M.R. Jaishankar |
230 |
20% |
|
Githa Shankar |
187 |
17% |
|
Nirupa Shankar |
93 |
8% |
As per records of the Company, including its register of shareholders/ members and other declaration received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
(d) Shares issued for
consideration other than cash and reserved for issue under options
The Company has issued total 13 Lakhs shares (March 31, 2016: 0.900 Million shares, April 01, 2015: 0.500 Million shares) during the period of 5 years immediately preceding the reporting date on exercise of options granted under ESOP wherein part consideration was received in the form of employee services. For details of shares reserved for issue under the Employee Stock Option plan of the Company, refer note 35
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1136.600 |
1131.800 |
1127.400 |
|
(b) Reserves &
Surplus |
15824.500 |
14137.200 |
12038.100 |
|
(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) |
16961.100 |
15269.000 |
13165.500 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10592.600 |
9749.500 |
5566.300 |
|
(b) Deferred tax
liabilities (Net) |
866.800 |
573.100 |
364.900 |
|
(c) Other long term
liabilities |
493.500 |
618.000 |
418.400 |
|
(d) long-term provisions |
6.800 |
6.800 |
4.600 |
|
Total Non-current
Liabilities (3) |
11959.700 |
10947.400 |
6354.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
882.400 |
31.200 |
95.900 |
|
(b) Trade payables |
3842.100 |
3424.100 |
2480.100 |
|
(c) Other current
liabilities |
16224.700 |
18570.100 |
13208.200 |
|
(d) Short-term provisions |
59.900 |
51.200 |
323.300 |
|
Total Current Liabilities
(4) |
21009.100 |
22076.600 |
16107.500 |
|
|
|
|
|
|
TOTAL |
49929.900 |
48293.000 |
35627.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12711.700 |
2221.400 |
10856.100 |
|
(ii) Intangible Assets |
15.400 |
17.300 |
14.000 |
|
(iii) Capital
work-in-progress |
3699.000 |
4348.300 |
3771.700 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
9303.200 |
16309.400 |
1921.500 |
|
(c) Deferred tax assets
(net) |
76.800 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2734.000 |
2452.100 |
6453.900 |
|
(e) Other Non-current
assets |
2243.200 |
2802.200 |
752.100 |
|
Total Non-Current Assets |
30783.300 |
28150.700 |
23769.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
15388.800 |
16792.000 |
9778.900 |
|
(c) Trade receivables |
616.500 |
458.600 |
161.500 |
|
(d) Cash and cash
equivalents |
530.500 |
303.100 |
224.100 |
|
(e) Short-term loans and
advances |
88.300 |
66.000 |
866.200 |
|
(f) Other current assets |
2522.500 |
2522.600 |
827.200 |
|
Total Current Assets |
19146.600 |
20142.300 |
11857.900 |
|
|
|
|
|
|
TOTAL |
49929.900 |
48293.000 |
35627.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
16547.700 |
15782.700 |
9880.500 |
|
|
Other Income |
929.700 |
898.400 |
199.600 |
|
|
TOTAL |
17477.400 |
16681.100 |
10080.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Sub-contractor cost |
5915.400 |
5951.200 |
4601.600 |
|
|
Cost of raw materials,
components and stores consumed |
781.300 |
1440.800 |
1298.700 |
|
|
Land purchase cost |
568.700 |
2555.700 |
656.400 |
|
|
(Increase)/ decrease in inventories
of stock of flats, land stock and work-in-progress |
1329.000 |
(846.400) |
(2361.200) |
|
|
Employees benefits
expense |
1239.600 |
1066.000 |
886.200 |
|
|
Other expenses |
2210.500 |
1909.800 |
1845.900 |
|
|
TOTAL |
12044.500 |
12077.100 |
6927.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
5432.900 |
4604.000 |
3152.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2005.000 |
1504.000 |
1146.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3427.900 |
3100.000 |
2006.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1087.100 |
979.800 |
919.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2340.800 |
2120.200 |
1086.600 |
|
|
|
|
|
|
|
Less |
TAX |
689.600 |
647.000 |
386.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1651.200 |
1473.200 |
700.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
14.62 |
13.06 |
6.23 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
7285.700 |
7375.300 |
6752.300 |
|
Cash generated from operations |
4779.700 |
2489.500 |
150.500 |
|
Net cash flow from (used in) operations |
4372.800 |
2129.100 |
(160.300) |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2st
Quarter |
|
Net sales |
|
4052.600 |
3562.100 |
|
Total Expenditure |
|
3103.200 |
2512.500 |
|
PBIDT (Excluding Other Income) |
|
949.400 |
1049.600 |
|
Other income |
|
233.300 |
302.400 |
|
Operating Profit |
|
1182.700 |
1352.000 |
|
Interest |
|
494.700 |
480.500 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
688.000 |
871.500 |
|
Depreciation |
|
224.200 |
227.900 |
|
Profit Before Tax |
|
463.800 |
643.600 |
|
Tax |
|
103.500 |
205.800 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit after tax |
|
360.300 |
437.800 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
360.300 |
437.80 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
13.60 |
10.61 |
5.97 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
26.84 |
34.41 |
61.18 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
209.41 |
169.07 |
153.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.35 |
0.27 |
0.32 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.33 |
0.70 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.78 |
0.81 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.11 |
1.12 |
0.94 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.24 |
1.45 |
1.22 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.97 |
0.43 |
1.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.71 |
3.06 |
2.75 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.98 |
9.33 |
7.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.31 |
3.05 |
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.74 |
9.65 |
5.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.91 |
0.91 |
0.74 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.18 |
0.15 |
0.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.32 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
16.51 |
15.16 |
11.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.91 |
0.91 |
0.74 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 280.05/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
1127.400 |
1131.800 |
1136.600 |
|
Reserves & Surplus |
12038.100 |
14137.200 |
15824.500 |
|
Net worth |
13165.500 |
15269.000 |
16961.100 |
|
|
|
|
|
|
long-term borrowings |
5566.300 |
9749.500 |
10592.600 |
|
Short term borrowings |
95.900 |
31.200 |
882.400 |
|
Current Maturities of
Long term debt |
6752.300 |
7375.300 |
7285.700 |
|
Total borrowings |
12414.500 |
17156.000 |
18760.700 |
|
Debt/Equity ratio |
0.943 |
1.124 |
1.106 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9880.500 |
15782.700 |
16547.700 |
|
|
|
59.736 |
4.847 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9880.500 |
15782.700 |
16547.700 |
|
Profit/(Loss) |
700.000 |
1473.200 |
1651.200 |
|
|
7.08% |
9.33% |
9.98% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1136.600 |
1131.800 |
|
(b) Reserves &
Surplus |
|
18086.900 |
15484.500 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
19223.500 |
16616.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
15884.700 |
15003.600 |
|
(b) Deferred tax liabilities
(Net) |
|
639.900 |
630.700 |
|
(c) Other long term
liabilities |
|
1119.700 |
1146.300 |
|
(d) long-term provisions |
|
7.300 |
7.100 |
|
Total Non-current
Liabilities (3) |
|
17651.600 |
16787.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2285.800 |
1765.600 |
|
(b) Trade payables |
|
5161.200 |
4239.600 |
|
(c) Other current
liabilities |
|
19127.900 |
20510.000 |
|
(d) Short-term provisions |
|
70.100 |
58.800 |
|
Total Current Liabilities
(4) |
|
26645.000 |
26574.000 |
|
|
|
|
|
|
TOTAL |
|
63520.100 |
59978.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
15982.000 |
3297.800 |
|
(ii) Intangible Assets |
|
43.000 |
60.500 |
|
(iii) Capital
work-in-progress |
|
13731.200 |
13967.400 |
|
(iv) Intangible assets
under development |
|
83.800 |
140.900 |
|
Goodwill on consolidation
|
|
103.300 |
43.000 |
|
(b) Non-current
Investments |
|
540.100 |
9681.300 |
|
(c) Deferred tax assets
(net) |
|
20.600 |
11.800 |
|
(d) Long-term Loan and Advances |
|
2134.100 |
1234.900 |
|
(e) Other Non-current
assets |
|
2882.300 |
3238.500 |
|
Total Non-Current Assets |
|
35520.400 |
31676.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
258.900 |
|
(b) Inventories |
|
22639.100 |
23066.900 |
|
(c) Trade receivables |
|
373.700 |
429.400 |
|
(d) Cash and cash
equivalents |
|
1363.300 |
1089.300 |
|
(e) Short-term loans and
advances |
|
67.400 |
63.600 |
|
(f) Other current assets |
|
3556.200 |
3393.800 |
|
Total Current Assets |
|
27999.700 |
28301.900 |
|
|
|
|
|
|
TOTAL |
|
63520.100 |
59978.000 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
20241.400 |
20379.200 |
|
|
Other Income |
|
342.400 |
327.500 |
|
|
TOTAL |
|
20583.800 |
20706.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Sub-contractor cost |
|
7477.200 |
7657.500 |
|
|
Cost of raw materials,
components |
|
1601.400 |
2097.400 |
|
|
Land purchase cost |
|
899.300 |
2695.000 |
|
|
Changes in inventories of
finished goods, |
|
46.600 |
-866.400 |
|
|
Employee benefits expense |
|
1433.200 |
1252.200 |
|
|
Other expenses |
|
3040.100 |
2641.900 |
|
|
TOTAL |
|
14497.800 |
15477.600 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
6086.000 |
5229.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
2464.800 |
1990.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
3621.200 |
3239.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1225.500 |
1059.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
2395.700 |
2179.800 |
|
|
|
|
|
|
|
Less |
TAX |
|
735.700 |
801.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
1660.000 |
1377.900 |
|
|
|
|
|
|
|
|
Share in profit from
associate company |
|
12.000 |
12.900 |
|
|
|
|
|
|
|
|
Profit for the year |
|
1672.000 |
1390.800 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
13.45 |
10.83 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Brigade Enterprises Limited (‘BEL’ or the ‘Company’) is a public company domiciled in India and is incorporated on November 8, 1995 under the provisions of the Companies Act applicable in India. Its shares are listed on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The registered office of the Company is located at 29th & 30th Floors, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram - Rajajinagar, Bangalore 560 055. The Company is carrying on the business of real estate development, leasing and hospitality and related services. The standalone Ind AS financial statements were authorized for issue in accordance with a resolution of the directors on May 22, 2017.
FINANCIAL OVERVIEW:
During the financial year 2016-17, the Company has on a standalone basis, clocked a total income of INR 17477.400 Million as compared to INR 16681.100 Million for the previous year ended 31st March, 2016, an increase of 5% on a year-on-year basis. EBITDA has increased from INR 4604.000 Million to INR 5433.000 Million an increase of 18%. Total Comprehensive income was at INR 1654.400 Million for the financial year ended March 31, 2017 as compared to INR 1465.800 Million for the previous year, an increase by 13%.
The consolidated revenue for the Company for the financial year 2016-17 was INR 20583.800 Million as compared to INR 20706.700 Million in the previous year, a decline of 0.6% on year-on-year basis. EBITDA increased from INR 5229.100 Million in the previous year to INR 6086.000 Million, for the financial year 2016-17, an increase of 16%. Total Comprehensive income was at INR 1675.100 Million for the financial year ended 31st March, 2017 as compared to INR 1382.300 Million for the previous year, an increase by 21%
Outlook
The performance of real estate sector is highly linked to the economic growth and stability. FY17 positively with several reforms by the central government will have favourable implications in the coming years. While the government has set the stage for an exceptional show in 2017 for the sector, some short to medium term challenges are to be addressed. The much awaited RERA and GST have been well addressed by the government. FY18 is also expected to witness greater traction in the real estate segment. Implementation of GST and RERA will not only bring the transparency and efficiency in the sector but also boost the consumer sentiments. The Group has many projects in the pipeline in South India and has ample opportunity to grow in the coming years. It had made its presence outside South India by venturing into GIFT City in Gujarat which will open the door for more avenues. It has land bank of 542 acres which will be utilised for launching new projects in the coming years.
AWARDS AND
RECOGNITIONS:
- Brigade Cosmopolis won the Best Residential Project in Bangalore in the Luxury segment at the 11th CNBC Awaaz Awards 2016.
- Brigade at No. 7 won the Best Residential Project in Hyderabad in the Ultra Luxury segment at the 11th CNBC Awaaz Awards 2016.
- Brigade Group won the Integrated Township of the Year – South and Developer of the Year- Mixed Use at the Estate Awards 2017
- Brigade Group has been Ranked No. 1 in the Real Estate Industry and No. 39 across all Industries in India as India’s Great Companies to Work for 2016 by Great Place to work Institute and the Economic Times.
- Orion East Mall won “Retail Property of the Year-South” at the 5th Indian Retail & e-Retail Awards 2016
- Brigade Exotica received the ‘Best Design Apartment Project of the Year – East Bangalore’ award at the SiliconIndia Bangalore Real Estate Awards 2016
- Brigade Group received India’s Top Builders 2016 Award at CWAB Awards
- Brigade Group won the 1 st Runner Up for the South Region in the CII-National Excellence Practice Competition-2016.
- Brigade Group scored a Hat-Trick at the 6th Annual Construction Week India Awards 2016 – Mr. M.R. Jaishankar won the Real Estate Person of the Year Award, Ms. Nirupa Shankar Won the - Young Entrepreneur of the year Award and Brigade Exotica won the Runners Up Award in the High Rise Building Category.
- Orion Mall won 3 Awards at the Times Retail Icon Awards – Bangalore 2016 – Emerging Mall – Orion East, Best Marketing & Promotion – Orion Mall @ Brigade Gateway and Best CSR Activities – Orion Mall @ Brigade Gateway.
- Aspen @ Brigade Orchards, Won the ICI (BC) – Birla Super Jury Appreciation Award for Outstanding Concrete Structure of Karnataka 2016 in the Building Category
- Mr. M.R Jaishankar was recognised as a Professional Developer par Excellence by Association of Consulting Civil Engineers (India), Bangalore Centre for his Contributions to the Society at REDECON 2016.
- Brigade won 2 Awards at the Realty Plus Excellence Awards (South) 2016 – Developer of the year – Commercial for Nalapad Brigade Centre & CSR Initiatives of the Year for the Redevelopment of Sitharampalya Lake.
- Mr. M.R. Jaishankar has been recognised as one of India’s Best CEO’s and ranked in the Top 100 CEO’s by Business Today – PwC in the Annual ranking of India’s Best CEO’s 2016.
- Brigade Orchards won the Order of Merit Award at the Businessworld Smart Cities Conclave & Awards
- Orion Mall won the Retail Property of the Year – South at the Estate Awards 2017.
- Nirupa Shankar, Director - Brigade Hospitality won the ‘Restaurant owner of the Year’ award and Saurabh Bakshi, General Manager - Sheraton Grand Bangalore won the ‘General Manager of the Year’ award at the Hospitality Leaders’ Industry Choice Awards (HLICA) at the 7th edition of the Hotelier Summit India.
- Mr. Vishal Mirchandani,
CEO – Retail & Commercial won the IMAGES Most Admired Shopping Centre
Professional of the year Award
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30.09.2017
(INR In Million)
|
Particulars |
Quarter ended |
Year to date
the current period |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
3562.100 |
4052.600 |
7614.700 |
|
Other Operating Income |
302.400 |
233.300 |
535.700 |
|
Total
Income from Operations |
3864.500 |
4285.900 |
8150.400 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Sub-contractor |
699.300 |
1996.000 |
2695.300 |
|
Cost of materials consumed |
200.800 |
169.700 |
370.500 |
|
Land purchase cost |
621.900 |
139.900 |
761.800 |
|
Changes in inventories of finished goods and
work-in-progress |
257.800 |
(161.900) |
95.900 |
|
Employee benefits expense |
332.700 |
321.900 |
654.600 |
|
Depreciation and Amortization expenses |
227.900 |
224.200 |
452.100 |
|
Finance cost |
480.500 |
494.700 |
975.200 |
|
Other Expenditure |
400.000 |
637.600 |
1037.600 |
|
Total
Expenses |
3220.900 |
3822.100 |
7043.000 |
|
Profit/(Loss) before tax |
643.600 |
463.800 |
1107.400 |
|
Tax Expense |
205.800 |
103.500 |
309.300 |
|
Profit
/ (Loss) after Tax |
437.800 |
360.300 |
798.1000 |
|
|
|
|
|
|
Other
compressive income |
|
|
|
|
Item that will not reclassified |
1.400 |
5.900 |
7.300 |
|
Income tax related |
(6.000) |
1.800 |
(2.400) |
|
Total
Other compressive income |
8.000 |
4.100 |
4.900 |
|
|
|
|
|
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
|
|
|
|
Earnings per Share (EPS) - INR |
3.22 |
2.83 |
5.16 |
Note:
- The above standalone financial results of Brigade Enterprises Limited (‘the Company’) has been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on November 10, 2017.
2. The Board of Directors of (he Company have approved the Scheme of
Arrangement between the Company and its wholly owned subsidiaries - Brigade
Hotel Ventures Limited, Brigade Hospitality Services Limited and Augusta Club
Private Limited and their respective shareholders and creditors (hereinafter
referred to as "the Scheme”) in terms of the provisions of Sections 230 to
233 of the Companies Act, 2013 to transfer the hotels business, integrated
clubs and convention centre business and ‘Augusta Club’ business, to its wholly
owned subsidiaries. The Company is in the process of obtaining the necessary
approvals. Pending such approvals, the Scheme has not been accounted for in the
accompanying unaudited financial results for the quarter and six months ended
September 30,2017.
3. The Board of Directors, in its meeting held on May 22, 2017 had proposed the
final dividend of Rs.2.50 per share for the year ended March 31, 2017, The
dividend proposed by the Board of Directors is approved by the shareholders’ in
the Annual Genera! meeting held on September 21, 2017, During the quarter, the
Company has accounted the same in accordance with Ind AS-10.
4. On November 02, 2017, to check the compliance with the provisions of the
Income Tax Act, 1961, the Income Tax Authorities conducted a search under
Section 132 of the Income Tax Act, 1961 at the premises of the Group, The Group
has not received any show cause notice/demand from the Income Tax Authorities
and the management has complied with the applicable provisions of the Income
Tax Act, 1961.
5. The figures of the previous year/ periods have been regrouped/ reclassified,
wherever necessary to conform to current period’s classification.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G73287476 |
100130190 |
ICICI BANK LIMITED |
30/09/2017 |
28/12/2017 |
- |
800000000.0 |
5TH FLOOR, SOBHA PEARL TOWER#01, COMMISSARIAT ROADBANGALOREKA560025IN |
|
2 |
G73288219 |
100130187 |
ICICI BANK LIMITED |
30/09/2017 |
28/12/2017 |
- |
500000000.0 |
5TH FLOOR, SOBHA PEARL TOWER#01, COMMISSARIAT ROADBANGALOREKA560025IN |
|
3 |
G63261689 |
100129807 |
THE FEDERAL BANK LIMITED |
28/09/2017 |
26/10/2017 |
- |
850000000.0 |
GANDHI NAGAR BRANCHP B NO.9981, NO.24, 2ND CROSS, GANDHI NAGARBANGALOREKA560009IN |
|
4 |
G69973758 |
100140177 |
ALLAHABAD BANK |
25/09/2017 |
- |
- |
6500000000.0 |
INDUSTRIAL FINANCE BRANCH, ULSOOR ROAD CROSSULSOOR ROADBANGALOREKA560042IN |
|
5 |
G49437593 |
100113081 |
UNIVERSAL TRUSTEESHIP SERVICES LIMITED |
29/06/2017 |
- |
- |
1000000000.0 |
D-214, KANAKIA ZILLION, L.B.S MARGKURLA BEST BUS DEPOT, BKC ANNEXE, KURLA (WEST)MUMBAIMA400070IN |
|
6 |
G48442727 |
100109881 |
THE JAMMU AND KASHMIR BANK LIMITED |
23/06/2017 |
- |
- |
1197000000.0 |
F-6, F-7, GEM PLAZA,INFANTRY ROADBANGALOREKA560001IN |
|
7 |
G42800615 |
100095589 |
THE JAMMU AND KASHMIR BANK LIMITED |
31/03/2017 |
- |
- |
1000000000.0 |
F-6, F-7, GEM PLAZA,INFANTRY ROADBANGALOREKA560001IN |
|
8 |
G70593595 |
100093760 |
DCB BANK LIMITED |
31/03/2017 |
05/12/2017 |
- |
750000000.0 |
28, PRESTIGE MERIDIAN ANNEX,ANNEX, M.G. ROOD,BANGALOREKA560001IN |
|
9 |
G42178517 |
100090756 |
HDFC BANK LIMITED |
30/01/2017 |
30/03/2017 |
- |
1500000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
G51230936 |
100078307 |
THE KARUR VYSYA BANK LIMITED |
18/01/2017 |
27/07/2017 |
- |
950000000.0 |
13, SESHA SADAN, CAMBRIDGE ROAD,HALASURU,BANGALOREKA560008IN |
FIXED ASSETS:
·
Land
·
Building
·
Furniture, fixture and
interiors
·
Office Equipments
·
Plant and machinery
·
Computer and hardware
·
Software
·
Vehicles
·
Leasehold improvement
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
|
INR |
|
US Dollar |
1 |
INR 63.68 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
INFORMATION DETAILS
|
Information Gathered
by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.