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|
MIRA INFORM REPORT
|
Report No. : |
491045 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SP DESIGN DEVELOPERS LLP |
|
|
|
|
Registered
Office : |
S No. 41/54/B5, Bunglow No.15, Kaustubh Bunglow, H.A.E Housing Society, Behind Yatri Hotel, Erandwane, Pune – 411004, Maharashtra |
|
Mobile No.: |
91-9975577073 (Mr. Amar Patil) |
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|
Country : |
India |
|
|
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|
Financials (as on)
: |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.10.2016 |
|
|
|
|
Total Obligation
of Contribution: |
INR 24.686 Million |
|
|
|
|
LLPIN No.: |
AAH-6573 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
Not Available |
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GSTIN/UIN : |
Not Divulged |
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|
Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Construction Activity. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 70500 (INR 4937200) |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was established as a partnership firm with the name of “SP Design Developers and later on it got converted into LLP with the name of “SP Design Developers LLP” in the year 2016. It is engaged in construction activities. For the financial year 2017, the firm has earned revenue of INR 156.670 Million along with average profit margin of 1.84%. Moderate financial profile of the firm is marked by comfortable capital base along with negligible debt level. Payments are seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 14.02.2018
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 BY
|
Name : |
Mr. Amar Patil |
|
Designation : |
Engineering Department |
|
Contact No.: |
91-9975577073 |
|
Date : |
10.02.2018 |
LOCATIONS
|
Registered Office : |
S No. 41/54/B5, Bunglow No.15, Kaustubh Bunglow, H.A.E Housing Society, Behind Yatri Hotel, Erandwane, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9975577073 (Mr. Amar Patil) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
As on 31.03.2017
|
Name : |
Mr. Pramod Prakash Savadatti |
|
Designation : |
Designated Partner |
|
Address : |
House No. 598, Chichawaliwadi, Goregaon, Raigad – 402103, Maharashtra, India |
|
Date of Birth/Age : |
27.05.1971 |
|
Date of Appointment : |
21.10.2016 |
|
DPIN No. : |
07369940 |
|
|
|
|
Name : |
Mr. Shailesh Satish Kasegaonkar |
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 19, Sayali Apartment, Shahu Colony, Lane No. 1, Near Rudra Hotel, Karve Nagar, Kothrud, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1975 |
|
Date of Appointment : |
21.10.2016 |
|
DPIN No. : |
07369961 |
KEY EXECUTIVES
|
Name : |
Mr. Amar Patil |
|
Designation : |
Engineering Department |
CONTRIBUTION DETAILS
As on 31.03.2017
|
Names of Persons |
INR In Million |
|
Pramod Prakash Savadatti |
0.200 |
|
Shailesh Satish Kasegaonkar |
0.200 |
|
Total |
0.400 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity. (Registered Activity) |
|
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|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
|
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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Facilities : |
|
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Auditors : |
|
|
Name : |
KVMDS and Associates Chartered Accountants |
|
Address : |
B-101, ‘Sneh Ganga’, B Wing, Shankar Sheth Road, Near Vega Centre, Swargate, Pune – 411037, Maharashtra, India |
|
Tel. No.: |
91-20-24445002 |
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Fax No.: |
91-20-24455003 |
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E-Mail : |
|
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Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2017
|
PARTICULARS |
Obligation Fund |
|
|
|
|
-Pramod Savdatti |
INR 12.377
Million |
|
-Shailesh Kasegaonkar |
INR 12.309
Million |
|
Total |
INR 24.686 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
|
|
|
-Pramod Savdatti |
|
|
12.377 |
|
|
-Shailesh Kasegaonkar |
|
|
12.309 |
|
|
|
|
|
|
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
24.686 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
41.903 |
|
|
2] Unsecured Loans |
|
|
6.675 |
|
|
TOTAL BORROWING |
|
|
48.578 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
73.264 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.710 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.500 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
37.978
|
|
|
Cash & Bank Balances |
|
|
0.918
|
|
|
Other Current Assets |
|
|
28.825
|
|
|
Loans & Advances |
|
|
1.709
|
|
|
Work In Progress |
|
|
72.686
|
|
Total
Current Assets |
|
|
142.116
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
62.173
|
|
|
Other Current Liabilities and Provisions |
|
|
15.889
|
|
Total
Current Liabilities |
|
|
78.062
|
|
|
Net Current Assets |
|
|
64.054
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
73.264 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
156.671 |
|
|
Other Income |
|
|
0.373 |
|
|
TOTAL |
|
|
157.044 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
|
|
62.576 |
|
|
Purchases of
Stock-in-Trade |
|
|
0.000 |
|
|
Direct Expenses |
|
|
70.322 |
|
|
Administrative Expenses |
|
|
5.658 |
|
|
Compensation to Staff |
|
|
8.130 |
|
|
Partners Remuneration
Interest on Capital |
|
|
1.000 |
|
|
TOTAL |
|
|
147.686 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
9.358 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
3.608 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
5.750 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.559 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
5.191 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
2.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
2.891 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flows from (used in) operation |
|
|
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
88.48 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
|
|
4.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
362.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
1.39 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
1.97 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
3.43 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
2.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
|
|
1.85 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
11.71 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
1.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
1.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.68 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
No |
|
18] |
Major suppliers |
Yes |
|
19] |
Major customers |
Yes |
|
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 about five
months |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last last about five
months |
Yes |
|
30] |
Major shareholders, if available |
No |
|
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 |
NATURE OF BUSINESS
The partnership firm is in engaged in the business of nature of
development and construction-civil construction work.
NOTE: The SP Design
Developers LLP is converted from SP Design Developers on 21.10.2016 with the
same partners. The closing balances of erstwhile SP Design Developers are
considered as opening balance of SP Design Developers LLP.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
|
Bhupebdra Ratilal Mehta |
2.265 |
|
Jayant Sansare (Advance) |
0.060 |
|
Niharika S Shah-Loan |
0.750 |
|
Prashant Patil |
0.200 |
|
Salil Sakhardande |
0.400 |
|
Suresh Jadhav and Associates |
3.000 |
|
Total |
6.675 |
INDEX
OF CHARGES
No Charges Exists for LLP
FIXED ASSETS
- Computer and Printer
- Furniture and Fixtures
- Machinery
- Electronic Equipment’s
- Tata Sumo Car
- Tata Xenon
- TVS Jupiter
- Vento Car
- Vehicle-Bharatbenz
- Computer Software
- Mobile and Tablet
- Cash Counting Machine
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 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
NO |
|
--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.