|
|
|
MIRA INFORM REPORT
|
Report No. : |
485486 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LODHA DEVELOPERS PRIVATE LIMITED (w. e. f. 11.01.2013) |
|
|
|
|
Formerly Known
As : |
LODHA DEVELOPERS LIMITED (w. e. f. 02.08.2009) LODHA DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
412, Floor- 4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-23024400 / 23000693 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
25.09.1995 |
|
|
|
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Com. Reg. No.: |
11-093041 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 1181.080 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1995PTC093041 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACL1490J |
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|
|
|
GSTIN : |
Not Divulged |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged into Construction and Development of Real Estate and Allied Activities. (Registered activity and also Confirmed by management) |
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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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Lodha Developers Private Limited is a part of Lodha Group and was incorporated in the year 1995. It is engaged into real estate business. The company is focused on residential development in the Mumbai Metropolitan Region with some projects in nearby Pune. More recently, the company along with its promoters has expanded into the London market by acquiring two properties, now in the process of development. For the financial year 2016, the company has achieved revenue growth of 39.73% as compared to the previous year along with an average profit margin of 3.06%. The sound financial risk profile of the company is marked by adequate net worth base along with an average debt balance sheet profile. Rating takes into consideration the strong financial and managerial support that company receives from Lodha Group backed by its well experienced management team. Rating also takes into account the subject’s long established track record of business operations along with extensive experience of its promoters. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note 1: As per Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. Note 2: As per the current press release, Lodha Developers has revived plans to launch an initial public offer (IPO) and will soon approach market regulator Sebi with a fresh prospectus as it looks to raise INR 30000.000 to INR 60000.000 Million including by pre-IPO placement of shares. The company had filed draft red herring prospectus (DRHP) with SEBI in September 2009 to raise about INR 28000.000 Million. The company got the SEBI nod in January 2010, but later shelved its plan to launch the IPO due to bad market conditions post the global financial crisis. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
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 12.01.2018
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-COOPERATIVE (TEL NO.: 91-22-23024400 / 23000693 / 9167300490)
91-22-24968488 (NUMBER DOES NOT EXIST)
LOCATIONS
|
Registered Office : |
412, Floor- 4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-23024400 / 23000693 |
|
Mobile No.: |
91-9167300490 (Mr. Vijay Sadade) |
|
Fax No.: |
91-22-23020888 / 67161111 / 23024550 |
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E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Head Office : |
Lodha Excelus, Appollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-23024400 |
|
Fax No.: |
91-22-23000693 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mukund
Manohar Chitale |
|
Designation : |
Director |
|
Address : |
4/46, Vishnuprasad
Society, Shahaji Raje Marg, Vile Parle (East), Mumbai – 400057, Maharashtra,
India |
|
Date of Appointment : |
23.11.2016 |
|
DIN No.: |
00101004 |
|
|
|
|
Name : |
Mr. Berjis Minoo
Desai |
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Designation : |
Director |
|
Address : |
Yezerina-II, Road
No. 5, 740/741 Dadar Parsi Colony, Dadar, Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1956 |
|
Date of Appointment : |
01.01.2016 |
|
DIN No.: |
00153675 |
|
|
|
|
Name : |
Mr. Abhishek
Mangalprabhat Lodha |
|
Designation : |
Managing Director |
|
Address : |
9th Floor Lodha
Pavllion, Appolio Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011,
Maharashtra, India |
|
Date of Appointment : |
09.03.2016 |
|
PAN No.: |
ABWPL7723N |
|
DIN No.: |
00266089 |
|
|
|
|
Name : |
Mr. Rajendra
Narpatmal Lodha |
|
Designation : |
Wholetime
Director |
|
Address : |
D-001 Zarna
Enclave, Near Sai Dham Mandir, Western Express Highway, Kandivali Mumbai –
400101, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1966 |
|
Qualification : |
BE in Civil Engineering |
|
Date of Appointment : |
21.06.2016 |
|
PAN No.: |
ABPPL4395P |
|
DIN No.: |
00370053 |
|
|
|
|
Name : |
Mr. Rajinder Pal
Singh |
|
Designation : |
Director |
|
Address : |
3 B Hudco Place,
New Delhi – 110049, India |
|
Date of Appointment : |
01.01.2016 |
|
DIN No.: |
02943155 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjyot
Nilesh Rangnekar |
|
Designation : |
Company Secretary |
|
Address : |
B-202, Rustomjee Astraea
Majiwade, Near Lodha Paradise, Thane – West, Mumbai – 400601, Maharashtra,
India |
|
Date of Appointment : |
21.06.2016 |
|
PAN No.: |
AANPR5686C |
|
|
|
|
Name : |
Mr. Jayant
Mehrotra |
|
Designation : |
CFO(KMP) |
|
Address : |
B-24, Ashiana Complex
Glaxo Hsg Society, St. John Baptist Road , Bandra West, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
02.05.1962 |
|
Date of Appointment : |
01.01.2016 |
|
PAN No.: |
AERPM7001C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Sambhavnath Infrabuild and Farms Private Limited, India |
|
143371520 |
|
Mangal Prabhat Lodha Manju Lodha Abhishek Lodha Trustees of mangal Prabhat Lodha
Family Discretionary Trust |
|
73474560 |
|
Lodha Leading
Builders Private Limited, |
|
5600000 |
|
Ganeshji Reality
and Agro Private Limited, |
|
2800000 |
|
Bellissimo
Realtors Private Limited (earlier known as Loadha Finstock Private Limited) |
|
969920 |
|
|
|
|
|
Total |
|
226216000 |
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Mangal Prabhat Lodha |
|
29359360 |
|
Abhishek Mangal Prabhat Lodha |
|
16308949 |
|
Abhishek Mangal Prabhat Lodha |
|
5748651 |
|
Abhinandan Mangal Prabhat Lodha |
|
16308948 |
|
Abhinandan Mangal Prabhat Lodha |
|
5748652 |
|
Sambhavnath Infrabuild and Farms Private Limited, India |
|
131091520 |
|
Lodha Leading
Builders Private Limited, |
|
5600000 |
|
Ganeshji Reality
and Agro Private Limited, |
|
2800000 |
|
Lodha Properties
and Realty Private Limited, |
|
2280000 |
|
Lodha Finstock
Private Limited, India |
|
969920 |
|
Total |
|
216216000 |
|
Name of Preference Shareholders |
|
No. of Shares |
|
Lodha Pranik Landmark Developers Private
Limited, India |
|
20000000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Construction and Development of Real Estate and Allied Activities. (Registered activity and also Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance Payment, Cheque |
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Purchasing : |
Cash, Advance Payment, Cheque |
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 : |
Shanker and Kapani Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Address : |
NTC House, 2nd Floor, 15, N. M. Marg, Ballard Estate, Mumbai
– 400038, Maharashtra, India |
|
Tel. No.: |
91-22-22695719 |
|
Fax No.: |
91-22-22695720 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFS6521L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
U45200MH2007PTC173517 |
|
|
|
|
Subsidiary company
: |
U74999DL2005PTC135519
U45201MH2006PTC164295
Properties and Agrofarms Pvt Ltd w.e.f. 02.04.2016] U45201MH2006PTC166482
U70100MH2003PTC140443
U45400MH2007PTC173512
U45200MH1988PTC048628
U45201MH2007PTC166673
U70100MH1985PTC038213 Dalhousie Leasing and Financial Services Private Limited U65910MH1994PTC249085
U45200MH2007PTC168949
U55200MH1974PTC017810
U45200MH2012PTC235599
U65993MH1980PLC192516
U70109MH2010PTC204217
U45400MH2010PTC202418
U62200MH2013PTC247297
U70102MH2007PTC166919
U45201MH2006PTC166222
U45202MH2007PTC169025
U45201MH2006PTC166589
U45200MH2007PTC168707
U99999MH1994PTC076937
U45201MH2006PTC163928
U74900MH2007PTC168933
U45200MH2007PTC166830
U45201MH2006PTC163909
U45200MH2002PTC137895
U45201MH2006PTC165646
U72200MH2006PTC160863
L27109WB1962PLC025605
U92110MH1972PTC015915
U70102MH2009PTC191559
U40100MH2008PTC177500
U70100MH2005PTC154993
L67120GJ1995PLC024070
U45400MH2007PTC169315
L99999MH1947PLC252768
U45208MH2013PTC250500
U70104MH1935PLC002249
U45400MH2007PTC173521
U70109MH2007PTC166867
U99999MH1964PTC012859
U70100MH1954PTC009423
U70102MH2008PTC183617
U65910MH1996PTC257051
65923MH2008PTC178844
U45201MH2006PTC163928 |
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Limited Liability
Partnership : |
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|
|
|
Partnership Firms Under
Control : |
|
|
|
|
|
Others (Enterprises
owned/ controlled by controlling shareholder and / or his relatives with whom
the Company had transactions) : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300720440 |
Equity Shares |
INR 5/- each |
INR 1503.602 Million |
|
21040000 |
Preference Shares |
INR 5/- each |
INR 105.200 Million |
|
|
Total |
|
INR 1608.802
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
226216000 |
Equity Shares |
INR 5/- each |
INR 1131.080
Million |
|
|
|
|
|
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300640440 |
Equity Shares |
INR 5/- each |
INR 1503.202 Million |
|
20000000 |
Preference Shares |
INR 5/- each |
INR 100.000 Million |
|
|
Total |
|
INR 1600.900
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
216216000 |
Equity Shares |
INR 5/- each |
INR 1081.080
Million |
|
20000000 |
Preference Shares |
INR 5/- each |
INR 100.000 Million |
|
|
Total |
|
INR 1181.080
Million |
After 25.09.1995
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
825325240 |
Equity Shares |
INR 5/- each |
INR 4126.626 Million |
|
|
Total |
|
INR 4126.626
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
226216000 |
Equity Shares |
INR 5/- each |
INR 1131.080
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1181.080 |
1181.080 |
1181.080 |
|
(b) Reserves and Surplus |
8772.568 |
7776.324 |
5767.368 |
|
(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) |
9953.648 |
8957.404 |
6948.448 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.152 |
7.081 |
5.583 |
|
(b) Deferred tax liabilities (Net) |
389.225 |
505.717 |
168.565 |
|
(c) Other long-term
liabilities |
178.963 |
191.863 |
163.486 |
|
(d) long-term
provisions |
4.797 |
108.073 |
63.018 |
|
Total Non-current
Liabilities (3) |
577.137 |
812.734 |
400.652 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
60805.453 |
69948.507 |
38093.062 |
|
(b) Trade
payables |
3837.741 |
1236.194 |
897.129 |
|
(c) Other
current liabilities |
11175.097 |
9124.462 |
6686.086 |
|
(d) Short-term
provisions |
0.551 |
248.292 |
25.649 |
|
Total Current
Liabilities (4) |
75818.842 |
80557.455 |
45701.926 |
|
|
|
|
|
|
TOTAL |
86349.627 |
90327.593 |
53051.026 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
183.671 |
231.498 |
51.037 |
|
(ii)
Intangible Assets |
4.594 |
7.817 |
13.975 |
|
(iii) Tangible assets
capital work-in-progress |
95.321 |
0.000 |
143.959 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10795.737 |
9530.353 |
19903.347 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1180.808 |
737.409 |
411.302 |
|
(e) Other
Non-current assets |
913.992 |
330.733 |
0.000 |
|
Total Non-Current
Assets |
13174.123 |
10837.810 |
20523.620 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
101.774 |
101.774 |
993.572 |
|
(b) Inventories |
17127.621 |
15938.094 |
10662.382 |
|
(c) Trade
receivables |
1691.774 |
2746.967 |
1514.525 |
|
(d) Cash and
bank balances |
552.371 |
1367.267 |
1234.274 |
|
(e)
Short-term loans and advances |
47727.866 |
57083.294 |
14950.784 |
|
(f) Other current
assets |
5974.098 |
2252.387 |
3171.869 |
|
Total
Current Assets |
73175.504 |
79489.783 |
32527.406 |
|
|
|
|
|
|
TOTAL |
86349.627 |
90327.593 |
53051.026 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
11523.089 |
8246.994 |
4568.257 |
|
|
Other Income |
(61.362) |
(12.146) |
15.555 |
|
|
TOTAL |
11461.727 |
8234.848 |
4583.812 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8342.490 |
5643.628 |
3106.004 |
|
|
Purchases of
Stock-in-Trade |
716.926 |
3.768 |
560.101 |
|
|
Employee benefit expense |
425.771 |
304.085 |
154.095 |
|
|
Other expenses |
1050.651 |
1351.930 |
554.476 |
|
|
TOTAL |
10535.838 |
7303.411 |
4374.676 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
925.889 |
931.437 |
209.136 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
579.725 |
112.937 |
105.055 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
346.164 |
818.500 |
104.081 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.377 |
25.115 |
21.962 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
314.787 |
793.385 |
82.119 |
|
|
|
|
|
|
|
Less |
TAX |
(38.343) |
510.305 |
80.766 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
353.130 |
283.080 |
1.353 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
603.169 |
1626.780 |
0.000 |
|
|
TOTAL EARNINGS |
603.169 |
1626.780 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
45.690 |
16.611 |
19.251 |
|
|
Capital Goods |
0.000 |
1.088 |
5.313 |
|
|
TOTAL IMPORTS |
45.690 |
17.699 |
24.564 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.63 |
1.31 |
0.01 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
2.512 |
3.317 |
2.027 |
|
Net cash flows from (used in) operations |
6401.046 |
4352.641 |
(1759.038) |
|
Net cash flows from (used in) operating activities |
6171.149 |
4127.853 |
(1808.174) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
53.59 |
121.58 |
121.01 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
6.81 |
3.00 |
3.02 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases * 365] |
|
154.62 |
79.90 |
89.32 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
0.05 |
0.06 |
0.02 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
3.26 |
3.89 |
1.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.88 |
0.89 |
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
6.11 |
7.81 |
5.48 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / NetWorth) |
|
7.62 |
8.99 |
6.58 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth) |
|
0.03 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
1.60 |
8.25 |
1.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
3.06 |
3.43 |
0.03 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
(%) |
0.41 |
0.31 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
(%) |
3.55 |
3.16 |
0.02 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
0.97 |
0.99 |
0.71 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) / Current
Liabilities] |
|
0.74 |
0.79 |
0.48 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total Assets] |
|
0.12 |
0.10 |
0.13 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
51.49 |
59.23 |
32.26 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets / Total Current
Liabilities] |
|
0.97 |
0.99 |
0.71 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1181.080 |
1181.080 |
1181.080 |
|
Reserves & Surplus |
5767.368 |
7776.324 |
8772.568 |
|
Net
worth |
6948.448 |
8957.404 |
9953.648 |
|
|
|
|
|
|
Long-term borrowings |
5.583 |
7.081 |
4.152 |
|
Short term borrowings |
38093.062 |
69948.507 |
60805.453 |
|
Current maturities of
long-term debts |
2.027 |
3.317 |
2.512 |
|
Total
borrowings |
38100.672 |
69958.905 |
60812.117 |
|
Debt/Equity
ratio |
5.483 |
7.810 |
6.110 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4568.257 |
8246.994 |
11523.089 |
|
|
|
80.528 |
39.725 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4568.257 |
8246.994 |
11523.089 |
|
Profit/ (Loss) |
1.353 |
283.080 |
353.130 |
|
|
0.03
% |
3.43
% |
3.06
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1181.080 |
1181.080 |
|
(b) Reserves &
Surplus |
|
36830.276 |
30461.700 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
1651.533 |
1343.923 |
|
Total Shareholders’ Funds
(1) + (2) |
|
39662.889 |
32986.703 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
19569.755 |
19033.096 |
|
(b) Deferred tax
liabilities (Net) |
|
5031.278 |
4362.588 |
|
(c) Other long term
liabilities |
|
2358.526 |
22862.500 |
|
(d) long-term provisions |
|
213.698 |
178.544 |
|
Total Non-current
Liabilities (3) |
|
27173.257 |
46436.728 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
118830.725 |
99726.820 |
|
(b) Trade payables |
|
23981.620 |
16806.627 |
|
(c) Other current
liabilities |
|
94289.698 |
80820.042 |
|
(d) Short-term provisions |
|
2773.357 |
62.978 |
|
Total Current Liabilities
(4) |
|
239875.400 |
197416.467 |
|
|
|
|
|
|
TOTAL |
|
306711.546 |
276839.898 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3568.639 |
3918.643 |
|
(ii) Intangible Assets |
|
7775.702 |
9820.330 |
|
(iii) Capital
work-in-progress |
|
1756.706 |
44.839 |
|
(iv) Intangible assets
under development |
|
6370.535 |
7887.123 |
|
(b) Non-current
Investments |
|
19681.829 |
17932.601 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
10916.846 |
3541.199 |
|
(e) Other Non-current
assets |
|
1132.847 |
531.507 |
|
Total Non-Current Assets |
|
51203.104 |
43676.242 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
234.581 |
102.787 |
|
(b) Inventories |
|
209686.580 |
191242.268 |
|
(c) Trade receivables |
|
6860.643 |
10814.691 |
|
(d) Cash and cash
equivalents |
|
3042.544 |
4345.617 |
|
(e) Short-term loans and
advances |
|
25322.716 |
22072.132 |
|
(f) Other current assets |
|
10361.378 |
4586.161 |
|
Total Current Assets |
|
255508.442 |
233163.656 |
|
|
|
|
|
|
TOTAL |
|
306711.546 |
276839.898 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
83198.132 |
62698.645 |
|
|
Other Income |
|
267.003 |
149.590 |
|
|
TOTAL |
|
83465.135 |
62848.235 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
45849.451 |
33719.177 |
|
|
Purchases of
Stock-in-Trade |
|
6049.930 |
5601.044 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
27.769 |
12.987 |
|
|
Employees benefits
expense |
|
4068.179 |
3263.079 |
|
|
Other expenses |
|
7090.886 |
5890.317 |
|
|
Exceptional items |
|
(5.233) |
(0.125) |
|
|
TOTAL |
|
63080.982 |
48486.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
20384.153 |
14361.756 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
4880.673 |
755.021 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
15503.480 |
13606.735 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
3933.694 |
874.431 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
11569.786 |
12732.304 |
|
|
|
|
|
|
|
Less |
TAX |
|
4579.798 |
5153.564 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
6989.988 |
7578.740 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
29.22 |
33.53 |
CASE DETAILS
|
Bench:- Bombay |
||||||
|
Presentation Date: 16.08.2017 |
||||||
|
Lodging No:- |
ITXAL/2041/2017 |
Failing Date:- |
16.08.2017 |
|
||
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX. CEN |
Respondent:- |
LODHA DEVELOPERS PRIVATE LIMITED |
|||
|
Petn.Adv:- |
PADMA DIVAKAR (I3287) |
|
||||
|
District:- |
MUMBAI |
|||||
|
Bench:- |
SINGLE |
Category: |
TAX APPEALS |
|||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION
[ORIGINAL SIDE MATTERS] |
|||
|
Last Date:- |
16.11.2014 |
|||||
|
Last Coram:- |
REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER |
|||||
|
Act : |
Income Tax Act, 1961 |
Under Section :- |
260A |
|||
|
CASE DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 22.01.2016 |
|||||||
|
Stamp No:- |
WPST/9752/2017 |
Failing Date:- |
05.04.2017 |
Reg. No.:- |
W/4098/2017 |
Reg. Date:- |
06.04.2017 |
|
|
|||||||
|
Petitioner:- |
LODHA IMPEIA CO-OPERATIVE HOUSING |
Respondent:- |
LODHA DEVELOPERS PRIVATE LIMITED |
||||
|
Petn.Adv:- |
PRADEEP DATTAJIRAO DALVI (I2562) |
Resp.Adv:- |
GOVERNMENT PLEADER WRIT CELL (I2390) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
|
|||||
|
Next Date : |
22.01.2018 |
Stage:- |
FOR ADMISSION |
||||
|
Coram:- |
ACCORDING TO SITTING LIST |
||||||
|
Last Date:- |
01.08.2017 |
Stage:- |
FOR ADMISSION |
||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE K.K. TATED |
||||||
|
Act:- |
Mah. Co-operative, Society Act |
||||||
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 |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 412 Vardhaman Chambers, Cawasji Patel Street Fort, Mumbai –
400001, Maharashtra India to the present
address w.e.f. 02.12.2003.
FINANCIAL OVERVIEW
During the financial year 2015-16, total income increased by 39.72% to INR 11523.000 million from INR 8247.000 million for the financial Year 2014-15. The net profit for the financial year 2015-16 has increased by 24.30% to INR 353.000 million as compared to the net profit of INR 284.000 million during the financial year 2014-15.
SCHEME OF
AMALGAMATION AND ARRANGEMENT
The Scheme of Amalgamation and Arrangement (‘’the Scheme”) under Sections 391 to 394 of the Companies Act, 1956, for merger of Lodha Building and Construction PrivateLimited, Lodha Land Developers Private Limited and Mahavir Premises Private Limited, wholly owned subsidiaries of the Company was sanctioned vide order of the Hon'ble Bombay High Court which was filed with Registrar of Companies on 20-June-16(‘Effective Date’). The Authorised Capital of the Company is increased from INR 1607.200 Million to INR 1608.800 Million on account of this Scheme.
Demerged Undertaking of Arihant Premises Private Limited (‘APPL’) was demerged into the Company on 30-June-16 ('Effective Date') from Appointed Date i.e. 01-April-15.
PRESS RELEASE
LODHA GROUP RAISES $125 MN TO REPAY COSTLIER DEBT
Mumbai-based Lodha group's subsidiary Lodha Developers International Ltd had raised USD 200 million in March 2015 through issue of bonds with maturity in 2020.
Leading real estate firm Lodha group has raised an additional USD 125 million through bonds to pre-pay its costlier debt and reduce interest expense.
Mumbai-based Lodha group's subsidiary Lodha Developers International Ltd had raised USD 200 million in March 2015 through issue of bonds with maturity in 2020.
The company has now raised an incremental USD 125 million through issue of bonds with same maturity date, taking the total size to USD 325 million.
"Lodha Developers International has priced a USD 125 million tap of it's 2020 bonds at a yield of 8.89 per cent, a 310 basis points (3.1 per cent) reduction in yield from the original issue which was done at a yield of 12 per cent," Lodha group said in a statement.
The tap issue has been done at a price of 106.25, at a premium to the original issuance. The bonds are listed on the Singapore Stock Exchange (SGX).
Lodha International, which is based in Mauritius and undertakes development of projects in London market, said that the company planned to raise USD 100 million but the size of the issue was raised on strong interest from global investors.
"The total order book, at final pricing was in excess of USD 320 million. On account of this strong interest, the deal was upsized to USD 125 million," the statement said.
Lodha group said the proceeds would be used to pre-pay its higher cost debt and is leverage neutral for the group.
In July, Lodha Group MD Abhishek Lodha had said that its Indian debt stood at INR 145000.000 million, while the debt of London business was about INR 300.000 million pounds.
Privately-held Lodha Group is currently developing around INR 41.000 million sq ft area and has 31 ongoing projects in London, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad. It has a land bank of INR 350.000 million sq ft for future development.
The group had forayed into the London realty market in 2013 and acquired two prime sites in central London for an investment of about INR 400.000 million pounds.
In London, the 'Lincoln Square' project was launched last year and the second project 'No 1 Grosvenor Square', located in the heart of Mayfair, was launched in June this year.
Lodha UK is eyeing a sales revenue of 1.5 billion pounds (over INR 120000.000 Million) in the next three years from two ongoing housing projects in central London.
LODHA GROUP REVIVES IPO PLANS; LOOKS TO RAISE INR
30000.000-60000.000 Million
December 21, 2017
Realty major Lodha Developers has revived plans to launch an initial public offer (IPO) and will soon approach market regulator Sebi with a fresh prospectus as it looks to raise INR 30000.000 to INR 60000.000 Million including by pre-IPO placement of shares.
Realty major Lodha Developers has revived plans to launch an initial public offer (IPO) and will soon approach market regulator Sebi with a fresh prospectus as it looks to INR 30000.000 to INR 60000.000 Million including by pre-IPO placement of shares.
The Mumbai-based developer had filed draft red herring prospectus (DRHP) with Sebi in September 2009 to raise about INR 28000.000 Million. The company got the Sebi nod in January 2010, but later shelved its plan to launch the IPO due to bad market conditions post the global financial crisis.
According to sources, Lodha Developers is in process of appointing merchant bankers.
The company is targeting to raise between INR 30000.000 to INR 60000.000 Million through IPO and pre-IPO placement of shares, they added.
A Lodha spokesperson declined to comment.
In July-end, Lodha Developers MD Abhishek Lodha had told PTI that the company is reviving IPO plans.
"We are aiming for listing in calendar year 2018 and shall approach Sebi in the next 6-9 months," Lodha Group Managing Director Abhishek Lodha had said, but refused to share amount it wanted to raise.
The group achieved sales bookings of about INR 85000.000 Million last fiscal from both domestic market and London despite slowdown in the real estate market.
Recently, Lodha group raised an additional USD 125 million through bonds to pre-pay its costlier debt and reduce interest expense.
Lodha group’s subsidiary Lodha Developers International Ltd had raised $200 million in March 2015 through issue of bonds with maturity in 2020.
In July, Abhishek Lodha had said its Indian debt stood at INR 145000.000 Million, while the debt of the London business was about 300 million pounds.
Privately-held Lodha Group is currently developing around 41 million sq ft area and has 31 ongoing projects in London, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad. It has a land bank of 350 million sq ft for future development.
The group had forayed into the London realty market in 2013 and acquired two prime sites in central London for an investment of about 400 million pounds.
In London, the ‘Lincoln Square’ project was launched last year and the second project ‘No 1 Grosvenor Square’, located in the heart of Mayfair, was launched in June this year.
Lodha UK is eyeing a sales revenue of 1.5 billion pounds (over INR 120000.000 Million) in the next three years from two ongoing housing projects in central London.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Term loans from others |
2192.100 |
6251.700 |
|
Working capital loans from banks |
851.952 |
0.000 |
|
Loans and advances from related parties |
46344.098 |
50908.713 |
|
|
|
|
|
Total |
49388.150 |
57160.413 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G53745063 |
100123429 |
ICICI BANK LIMITED |
12/09/2017 |
- |
- |
1000000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
2 |
G54356423 |
100124641 |
STCI Finance Limited |
11/09/2017 |
- |
- |
800000000.0 |
A/B1- 802, "A" Wing,8 Floor, Marathon Innova,Marathon Next gen Compound, Lower Parel(W)MumbaiMH400013IN |
|
3 |
G49638661 |
100113818 |
IDBI TRUSTEESHIP SERVICES LIMITED |
28/04/2017 |
- |
- |
18350000000.0 |
ASIAN BUILDING,GROUND FLOOR,17,R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400012IN |
|
4 |
G56781156 |
100127833 |
JM FINANCIAL CREDIT SOLUTIONS LIMITED |
23/03/2017 |
- |
- |
118206000.0 |
7th Floor, Cnergy, Appasaheb Marathe Marg,PrabhadeviMUMBAIMa400025IN |
|
5 |
G56784937 |
100127839 |
JM FINANCIAL CREDIT SOLUTIONS LIMITED |
23/03/2017 |
- |
- |
118206000.0 |
7th Floor, Cnergy, Appasaheb Marathe Marg,PrabhadeviMUMBAIMa400025IN |
|
6 |
G49058647 |
100112126 |
IDBI TRUSTEESHIP SERVICES LIMITED |
08/03/2017 |
- |
- |
6250000000.0 |
ASIAN BUILDING, GROUND FLOOR,17,R KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
7 |
G47772900 |
100090505 |
IDBI TRUSTEESHIP SERVICES LIMITED |
08/02/2017 |
30/03/2017 |
- |
1546700000.0 |
Asian Building, Ground Floor, 17 R. Kamani Marg,Ballard EstateMumbaiMH400001IN |
|
8 |
G49822455 |
100064076 |
IDBI TRUSTEESHIP SERVICES LIMITED |
23/11/2016 |
04/08/2017 |
- |
733000000.0 |
Asian Building, Ground Floor, 17 R. Kamani Marg,Ballard EstateMumbaiMH400001IN |
|
9 |
G21918073 |
100059928 |
IDBI TRUSTEESHIP SERVICES LIMITED |
25/10/2016 |
- |
- |
2000000000.0 |
Asian Building, Ground Floor, 17 R. Kamani Marg,Ballard EstateMumbaiMH400001IN |
|
10 |
G12722260 |
100051566 |
IDBI TRUSTEESHIP SERVICES LIMITED |
29/08/2016 |
- |
- |
12200000000.0 |
Asian Building, Ground Floor, 17 R. Kamani Marg,Ballard EstateMumbaiMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
130.115 |
34.944 |
|
Guarantees |
144059.497 |
125898.703 |
|
Other money for which company is contingently liable |
286.602 |
255.629 |
|
Total |
144476.214 |
126189.276 |
FIXED ASSETS
- 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 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 63.83 |
|
|
1 |
INR 85.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.