|
|
|
MIRA INFORM REPORT
|
Report No. : |
490808 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
IHHR HOSPITALITY PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
INDIAN RESTAURANT ASSOCIATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-26, Qutub Institutional Area, New Delhi-110016 |
|
Tel. No.: |
91-11-40568888 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.12.1979 |
|
|
|
|
Com. Reg. No.: |
55-010091 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3924.231 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1979PTC010091 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI9385B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject carry on business as proprietors of hotels, restaurants, entertainment areas, amusement rooms or parks, refreshment rooms, tea rooms, cafes, milk and snack bars, and as caterers, contractors and managing properties as operators. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 12939400 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Amanind Investments Holdings Limited, Mauritius” incorporated in the year 1979 having fine track record. The subject is engaged in the business of providing hospitality services via its hotels, resorts under its brand name of “Ananda” For the financial year 2017, the company has achieved fair growth in its revenue as compared to its previous year but has reported losses during the year. Rating takes into consideration, the favourable financial risk profile marked by adequate net worth base and comfortable debt protection metrics. Rating continue to derive strengths from its long and established track record of its business operations backed by its well experienced promoters in hospitality industry along with far geographical reach, diversified portfolio, its in-house brand “Ananda” and contract with reputed international brand “Hyatt” providing access to global reservation systems. However, these rating strengths gets partially offset by the significant operational losses on the books along with highly fragmented and competitive hospitality industry. 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
31.01.2018 |
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 09.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-11-40568888]
LOCATIONS
|
Registered Office : |
C-26, Qutub Institutional Area, New Delhi-110016, India |
|
Tel. No.: |
91-11-40568888/ 26568888 |
|
Fax No.: |
91-11-26569999 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sudhir Choudhrie |
|
Designation : |
Director |
|
Address : |
59 Chester Square London Swiw9ea Gb |
|
Date of Birth/Age : |
28.09.1949 |
|
Qualification : |
BA (Economic) Hons |
|
Date of Appointment : |
20.09.2012 |
|
PAN No.: |
ADQPC8926L |
|
DIN No.: |
00008081 |
|
|
|
|
Name : |
Mrs. Bhanu Choudhrie |
|
Designation : |
Director |
|
Address : |
51, Chester Square London Sw1w9ea Gb |
|
Date of Birth/Age : |
22.06.1978 |
|
Qualification : |
International Business and Marketing at the University of Boston |
|
Date of Appointment : |
02.03.2006 |
|
PAN No.: |
AAFPC3778A |
|
DIN No.: |
00008327 |
|
|
|
|
Name : |
Dhairya Choudhrie |
|
Designation : |
Director |
|
Address : |
64 Chester Square London Sw1w9ea Gb |
|
Date of Birth/Age : |
30.04.1982 |
|
Qualification : |
Post Graduate in Business Management |
|
Date of Appointment : |
20.09.2012 |
|
PAN No.: |
ADMPC7631G |
|
DIN No.: |
00008346 |
|
|
|
|
Name : |
Mr. Ghanshyam Sevantilal Sheth |
|
Designation : |
Director |
|
Address : |
101, Vishnu Villa, 7 B, Worli Seaface, Worli, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
07.04.1957 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
18.08.1998 |
|
PAN No.: |
AAUPS0667D |
|
DIN No.: |
00112431 |
|
|
|
|
Name : |
Mr. Gurmeet Singh Ubera |
|
Designation : |
Director |
|
Address : |
Dd-14, Kalkaji Ist Floor, Opp Kalkaji Post Office, New Delhi-110019, India |
|
Date of Birth/Age : |
27.03.1951 |
|
Qualification : |
Bachelors |
|
Date of Appointment : |
03.04.1998 |
|
PAN No.: |
AAAPU2470J |
|
DIN No.: |
00273688 |
|
|
|
|
Name : |
Mr. Ashok Khanna |
|
Designation : |
Managing Director |
|
Address : |
Khanna Farm, 1496 Village Chattarpur, Mehrauli. New Delhi-110030, India |
|
Date of Birth/Age : |
16.03.1951 |
|
Qualification : |
B.Sc. (Hotel Management) from Cornell University, USA |
|
Date of Appointment : |
24.12.1979 |
|
PAN No.: |
AAIPK4746P |
|
DIN No.: |
00286517 |
|
|
|
|
Name : |
Mr. Rajeev Khanna |
|
Designation : |
Director |
|
Address : |
M-168, Greater Kailash Part-Ii, Second Floor, New Delhi-110048, India |
|
Date of Birth/Age : |
19.07.1955 |
|
Qualification : |
B.Sc (Hotel Management) From Cornell University, USA |
|
Date of Appointment : |
24.12.1979 |
|
PAN No.: |
AAAPK9300K |
|
DIN No.: |
00314280 |
|
|
|
|
Name : |
Mr. Sumant Kapur |
|
Designation : |
Director |
|
Address : |
79 Carlisle Mansion Carlisle Place London Sw1p1hx Gb |
|
Date of Birth/Age : |
05.09.1952 |
|
Qualification : |
BA (Hons), ACA |
|
Date of Appointment : |
02.03.2006 |
|
PAN No.: |
ASZPK1416D |
|
DIN No.: |
00593751 |
|
|
|
|
Name : |
Mr. Chandu Gobindram Chhada |
|
Designation : |
Director |
|
Address : |
Apt 12a, Bellevue Court 41, Stubbs Road Hongkong Pkr18 Cn |
|
Date of Birth/Age : |
14.07.1943 |
|
Qualification : |
B.Arch (Mumbai) |
|
Date of Appointment : |
03.04.1998 |
|
PAN No.: |
AACPC7549Q |
|
DIN No.: |
01786414 |
|
|
|
|
Name : |
Mr. Christophe Bertrand Sierro |
|
Designation : |
Director |
|
Address : |
Avenue Alfred-Cortot 7a Nyon 1260 Ch |
|
Date of Birth/Age : |
05.03.1971 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
26.12.2007 |
|
DIN No.: |
01936503 |
|
|
|
|
Name : |
Mr. Rajiv Mehrotra |
|
Designation : |
Director |
|
Address : |
A-20, Lajpat Nagar - III, New Delhi-110024, India |
|
Date of Birth/Age : |
26.01.1958 |
|
Qualification : |
M.Com, CA |
|
Date of Appointment : |
09.11.2015 |
|
PAN No.: |
AAEPM6167C |
|
DIN No.: |
02350194 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Jain |
|
Designation : |
Company Secretary |
|
Address : |
H. No.1201m, Jmd Gardens, Sector 33, Gurgaon-122018,
Haryana, India |
|
Date of Birth/Age : |
17.07.1974 |
|
Qualification : |
CS |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: |
ADSPJ5464C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Khanna |
|
10180764 |
|
Rajeev Khanna |
|
3829847 |
|
Neelam Khanna |
|
1927583 |
|
Chandu Chhada |
|
12403320 |
|
Shobha Chhada Chandu Chhada |
|
4673045 |
|
Parmeshwar Godrej |
|
1000000 |
|
Pierre Alexis Dumas |
|
3163123 |
|
Sandrine Brekke |
|
3163123 |
|
Fasco Holdings Limited |
|
3045973 |
|
DBA Propbuild Private Limited |
|
905609 |
|
Elsegundo Estate Private Limited |
|
905610 |
|
Gajendra Lal |
|
1294667 |
|
G: Corp Private Limited |
|
2148909 |
|
Rajeev Khanna Tradelinks LLP |
|
4061013 |
|
Amanind Investments Holding Limited |
|
225698347 |
|
Turquoise Holding Private Limited |
|
114022194 |
|
|
|
|
|
Total |
|
392423127 |
AS ON: 20.04.2017
|
Names of Allottee |
|
No. of Shares |
|
Turquoise Holding Pte Limited, Singapore |
|
6516813 |
|
|
|
|
|
Total |
|
6516813 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
4.06 |
|
Promoters – Body Corporate |
58.55 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
0.58 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
4.35 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Foreign national (other than NRI) |
1.62 |
|
Public/Other than promoters - Body Corporate |
30.84 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject carry on business as proprietors of hotels, restaurants, entertainment areas, amusement rooms or parks, refreshment rooms, tea rooms, cafes, milk and snack bars, and as caterers, contractors and managing properties as operators. [Registered Activity] |
||||
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Products/ Services : |
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||||
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||||
|
Brand Names : |
“Ananda” |
||||
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
Bankers : |
· State Bank of India Commercial Branch, Vardhman Trade Center, Nehru Place, New Delhi - 110019, Delhi, India · UTI Bank Limited Statesman House, 148 Barakhamba Road, New Delhi - 110001, Delhi, India · IndusInd Bank Limited · Axis Bank Limited |
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
· L&T Infrastructure Finance Company Limited Mount Poonamallee Road, Manapakkam, Chennai-600089,
Tamilnadu, India |
|
Auditors : |
|
|
Name : |
Uberoi Sood & Kapoor Chartered Accountants |
|
Address : |
606, Vishal Bhawan, 95, Nehru Place, New Delhi-11019, India |
|
PAN No.: |
AAAFU1674L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Amanind Investments Holding Limited, Mauritius |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· Ruchi Hospitality Private Limited, India [U74899DL2005PTC144006] · C & C Hotels Venture Private Limited, India [U74120DL2007PTC168557] · J P Kapur & Uberai · Ritika Book House · Alpha G. Corp Development Private Limited (Directors of the company are not interestedw.e.f. 12 th November 2015) · ABD Properties Private Limited · Shanti Hospitality Private Limited · Jumeria Investment and Real Estates Private Limited · G Corp Private Limited |
|
|
|
|
Subsidiary company
: |
· IHHR Hospitality (Andhra) Private Limited, India [U55101DL2005PTC135721] · IHHR Hospitality (UK) Private Limited (dissolved on 19 th April 2016) · IHHR Hospitality Ananda Private Limited, India [U55101DL2015PTC287696] |
|
|
|
|
Enterprise having
significant influence over the company : |
Turquoise Holding Pte. Limited |
CAPITAL STRUCTURE
AFTER: 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4350000000 |
Equity Shares |
INR 10/- each |
INR 43500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
398939940 |
Equity Shares |
INR 10/- each |
INR 3989.399
Million |
|
|
|
|
|
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4350000000 |
Equity Shares |
INR 10/- each |
INR 43500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392423127 |
Equity Shares |
INR 10/- each |
INR 3924.231
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3924.231 |
3264.739 |
2954.019 |
|
(b) Reserves and Surplus |
505.765 |
247.629 |
324.958 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
98.795 |
917.196 |
0.220 |
|
Total
Shareholders’ Funds (1) + (2) |
4528.791 |
4429.564 |
3279.197 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1320.000 |
1027.710 |
1580.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
3.513 |
0.000 |
0.000 |
|
(d) long-term
provisions |
433.123 |
430.445 |
429.470 |
|
Total Non-current
Liabilities (3) |
1756.636 |
1458.155 |
2009.470 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
472.346 |
623.256 |
500.349 |
|
(b) Trade
payables |
82.596 |
99.454 |
151.273 |
|
(c) Other
current liabilities |
294.399 |
446.516 |
842.276 |
|
(d) Short-term
provisions |
2.360 |
1.377 |
1.251 |
|
Total Current
Liabilities (4) |
851.701 |
1170.603 |
1495.149 |
|
|
|
|
|
|
TOTAL |
7137.128 |
7058.322 |
6783.816 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4610.326 |
4755.204 |
4912.115 |
|
(ii)
Intangible Assets |
4.202 |
5.300 |
8.244 |
|
(iii) Tangible assets
capital work-in-progress |
17.931 |
0.000 |
3.460 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
361.533 |
361.533 |
361.433 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1501.742 |
1417.758 |
1199.620 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6495.734 |
6539.795 |
6484.872 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
20.245 |
22.439 |
21.042 |
|
(c) Trade
receivables |
82.030 |
81.408 |
65.565 |
|
(d) Cash and
bank balances |
459.529 |
350.751 |
148.585 |
|
(e)
Short-term loans and advances |
49.772 |
43.460 |
44.183 |
|
(f) Other
current assets |
29.818 |
20.469 |
19.569 |
|
Total
Current Assets |
641.394 |
518.527 |
298.944 |
|
|
|
|
|
|
TOTAL |
7137.128 |
7058.322 |
6783.816 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1674.864 |
1563.055 |
1415.787 |
|
|
Other Income |
36.926 |
29.153 |
11.805 |
|
|
TOTAL |
1711.790 |
1592.208 |
1427.592 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
405.058 |
380.260 |
382.298 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
105.732 |
109.148 |
98.816 |
|
|
Employee benefit expense |
419.466 |
396.319 |
381.639 |
|
|
Other expenses |
419.521 |
389.007 |
375.831 |
|
|
Exceptional items |
0.000 |
0.000 |
1.323 |
|
|
TOTAL |
1349.777 |
1274.734 |
1239.907 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
362.013 |
317.474 |
187.685 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
255.170 |
335.925 |
353.410 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
106.843 |
(18.451) |
(165.725) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
185.704 |
215.913 |
272.125 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(78.861) |
(234.364) |
(437.850) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(78.861) |
(234.364) |
(437.850) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of Goods On F.O.B. Basis |
0.091 |
0.021 |
0.217 |
|
|
Income from operations (room revenue and revenue from related services) |
664.702 |
562.232 |
518.181 |
|
|
TOTAL EARNINGS |
664.793 |
562.253 |
518.398 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital goods (including advances) |
9.561 |
7.430 |
8.548 |
|
|
Consumables/Others |
1.100 |
1.578 |
2.695 |
|
|
TOTAL IMPORTS |
10.661 |
9.008 |
11.243 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.21) |
(0.76) |
(1.62) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
30.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
127.932 |
36.373 |
(224.313) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
127.932 |
36.373 |
128.535 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
17.88 |
19.01 |
16.90 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
20.42 |
19.20 |
21.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
74.43 |
95.46 |
144.43 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
17.88 |
14.15 |
8.92 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
0.07 |
0.04 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.31 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.40 |
0.37 |
0.63 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.19 |
0.26 |
0.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.02 |
1.07 |
1.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.42 |
0.95 |
0.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(4.71) |
(14.99) |
(30.93) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.10) |
(3.32) |
(6.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(1.74) |
(5.29) |
(13.35) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.75 |
0.44 |
0.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.73 |
0.42 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.63 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.46 |
0.51 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.75 |
0.44 |
0.20 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
2954.019 |
3264.739 |
3924.231 |
|
Reserves & Surplus |
324.958 |
247.629 |
505.765 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.220 |
917.196 |
98.795 |
|
Net
worth |
3279.197 |
4429.564 |
4528.791 |
|
|
|
|
|
|
Long-term borrowings |
1580.000 |
1027.710 |
1320.000 |
|
Short term borrowings |
500.349 |
623.256 |
472.346 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
30.000 |
|
Total
borrowings |
2080.349 |
1650.966 |
1822.346 |
|
Debt/Equity
ratio |
0.634 |
0.373 |
0.402 |
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 |
1415.787 |
1563.055 |
1674.864 |
|
|
|
10.402 |
7.153 |
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 |
1415.787 |
1563.055 |
1674.864 |
|
Profit/ (Loss) |
(437.850) |
(234.364) |
(78.861) |
|
|
(30.93
%) |
(14.99
%) |
(4.71
%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3924.231 |
3264.739 |
|
(b) Reserves and Surplus |
|
(560.375) |
(713.824) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
98.795 |
917.196 |
|
Total Shareholders’
Funds (1) + (2) |
|
3462.651 |
3468.111 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1879.300 |
1465.109 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
5.391 |
8.167 |
|
(d) long-term
provisions |
|
437.041 |
433.599 |
|
Total Non-current
Liabilities (3) |
|
2321.732 |
1906.875 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
480.198 |
623.257 |
|
(b) Trade
payables |
|
121.614 |
119.811 |
|
(c) Other
current liabilities |
|
351.384 |
640.432 |
|
(d) Short-term
provisions |
|
2.563 |
1.597 |
|
Total Current
Liabilities (4) |
|
955.759 |
1385.097 |
|
|
|
|
|
|
TOTAL |
|
6740.142 |
6760.083 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
5450.894 |
5649.036 |
|
(ii)
Intangible Assets |
|
4.934 |
6.849 |
|
(iii) Tangible assets
capital work-in-progress |
|
17.927 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
558.112 |
516.021 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
6031.867 |
6171.906 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
24.972 |
26.798 |
|
(c) Trade
receivables |
|
96.385 |
96.223 |
|
(d) Cash and
bank balances |
|
488.834 |
372.019 |
|
(e)
Short-term loans and advances |
|
64.840 |
67.732 |
|
(f) Other
current assets |
|
33.244 |
25.405 |
|
Total
Current Assets |
|
708.275 |
588.177 |
|
|
|
|
|
|
TOTAL |
|
6740.142 |
6760.083 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
2083.319 |
1923.284 |
|
|
Other Income |
|
39.170 |
48.991 |
|
|
TOTAL |
|
2122.489 |
1972.275 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
138.367 |
144.752 |
|
|
Employee benefit expense |
|
512.821 |
480.788 |
|
|
Other expenses |
|
1044.290 |
967.919 |
|
|
TOTAL |
|
1695.478 |
1593.459 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
427.011 |
378.816 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
365.269 |
435.653 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
61.742 |
(56.837) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
245.288 |
286.391 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(183.546) |
(343.228) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(183.546) |
(343.228) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.49) |
(1.12) |
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 |
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 |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G54197132 |
100123130 |
INDUSIND BANK LTD. |
11/05/2017 |
18/07/2017 |
- |
540000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMa411001IN |
|
2 |
G53620381 |
100026764 |
INDUSIND BANK LTD. |
27/04/2016 |
18/07/2017 |
- |
1450000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMa411001IN |
|
3 |
G04175220 |
10383660 |
YES BANK LIMITED |
06/09/2012 |
28/05/2015 |
20/05/2016 |
210000000.0 |
No. 11/48, Shopping Centre, Diplomatic EnclaveMalcha Market, ChanakyapuriNew DelhiDL110021IN |
|
4 |
G03436011 |
10203901 |
L & T FINANCE LIMITED |
05/01/2010 |
16/06/2010 |
12/05/2016 |
1600000000.0 |
L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN |
|
5 |
G03357902 |
10591150 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
21/04/2015 |
- |
12/05/2016 |
1242500000.0 |
MOUNT POONAMALLEE ROADMANAPAKKAMCHENNAITN600089IN |
|
6 |
G03410735 |
10197072 |
AXIS BANK LTD. |
11/01/2010 |
21/04/2015 |
12/05/2016 |
1017500000.0 |
2ND FLOOR, A-11, VISHAL ENCLAVE,RAJOURI GARDEN,NEW DELHIDL110027IN |
|
7 |
G03357365 |
10550639 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
28/11/2014 |
21/04/2015 |
12/05/2016 |
416000000.0 |
MOUNT POONAMALLEE ROADMANAPAKKAMCHENNAITN600089IN |
|
8 |
G03410099 |
10197065 |
AXIS BANK LTD. |
11/01/2010 |
21/04/2015 |
12/05/2016 |
80000000.0 |
2ND FLOOR, A-11, VISHAL ENCLAVE,RAJOURI GARDEN,NEW DELHIDL110027IN |
|
9 |
A85260321 |
80059307 |
TFCI LIMITED |
18/02/1999 |
22/01/2003 |
11/05/2010 |
154368000.0 |
IFCI TOWER61, NEHRU PLACENEW DELHIDL110019IN |
|
10 |
A85261261 |
90047421 |
T. F. C. I. LIMITED |
18/02/1999 |
22/01/2003 |
11/05/2010 |
140000000.0 |
IFCI TOWER61; NEHRU PLACENEW DELHIDL110019IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
344.017 |
0.000 |
|
Loans and advances from others |
72.177 |
477.132 |
|
Loans and advances from directors |
0.000 |
65.541 |
|
|
|
|
|
Total |
416.194 |
542.673 |
BACKGROUND AND NATURE
OF OPERATIONS
The Company was incorporated on December 24, 1979 to establish and carry on business as proprietors of hotels, restaurants, entertainment areas, amusement rooms or parks, refreshment rooms, tea rooms, cafes, milk and snack bars, and as caterers, contractors and managing properties as operators.
OPERATIONS AND BUSINESS PERFORMANCE
During the year 2016-17, Company has been able to generate income of INR 1711.790 Million as compared to previous year of INR 1592.208 Million which is 7.51% higher than the previous year. Company has been able to reduce losses from INR 234.335 Million in the year 2015-16 to INR 78.860 Million in the year 2016-17.
Better performance of Company’s Unit at ‘Ananda in the Himalayas’ and Management of Company’s Hotels by HYATT has resulted in better top line of the Company. The Directors are committed to achieve better performance for the Company in the coming years.
The Indian Hotel Industry holds a huge potential due to the positive impact of demand-supply scenario, growth drivers, investments and government initiatives for tourism sector.
AWARD & RECOGNITION
Following awards and recognitions were received by ‘Ananda in the Himalayas’ during the year.
2016
Conde Nast Traveller, USA
Gold List
SpaFinder Wellness Travel Awards
6 awards- Best for Mind & Spirit, Best for Yoga, Best for wow factor, Best for going solo, Best in India
Conde Nast Traveller, India – Readers Travel Awards
Favourite Destination Spa
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from Bawa
Potteries Complex, Aruna Asaf Ali Marg, Vasant Kunj, New Delhi-110070, India to
the present address w.e.f 15.05.2006
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 64.16 |
|
UK Pound |
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
NO |
|
--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.