|
|
|
MIRA INFORM REPORT
|
Report No. : |
488514 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
RKEC PROJECTS LIMITED (w.e.f.10.11.2016) |
|
|
|
|
Formerly Known
As : |
RKEC PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Door No.10-12-1, Rednam Alcazar, 3rd Floor, Opposite SBI Main Branch, Old Jail Road, Rednam Gardens, Visakhapatnam-530020, Andhra Pradesh |
|
Tel. No.: |
91-891-2574517 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.04.2005 |
|
|
|
|
Com. Reg. No.: |
01-045795 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 193.126 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200AP2005PLC045795 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR9682A |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the Infrastructure Sector and primarily in the Marine Works,
Construction of Roads, Buildings, Bridges & Fly Overs etc. [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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005 and it is having satisfactory track. The company undertakes civil construction projects. For the financial year 2017, the company has increased its revenue from operation and maintained decent profitability margin of 6.55%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and negligible debt balance sheet. Further, rating also reflects from company's established presence in the civil construction industry supported by its promoters' extensive industry experience along with its long-standing relationships with key customers and improvement in the revenue as well profitability profile during the year. However, rating strength is partially offset by large working capital requirements and exposure to intense competition. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition. |
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 |
CRISIL |
|
Rating |
long Term Rating = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
14.07.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 29.01.2018
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 DECLINED BY
|
Name : |
Ms. Kivtana |
|
Designation : |
Accountant |
|
Contact No.: |
91-891-2574517 |
|
Date : |
27.01.2018 |
|
Name : |
Mr. Srinivas Rao |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9866185379 |
|
Date : |
27.01.2018 |
LOCATIONS
|
Registered Office : |
Door No.10-12-1, Rednam Alcazar, 3rd Floor, Opposite SBI Main Branch, Old Jail Road, Rednam Gardens, Visakhapatnam-530020, Andhra Pradesh, India |
|
Tel. No.: |
91-891-2574517 |
|
Mobile No.: |
91-9866185379 [Mr. Srinivas Rao] |
|
Fax No.: |
91-891-2574703 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Radhakrishna Garapati |
||||||||||
|
Designation : |
Managing Director |
||||||||||
|
Address : |
7-17-9/1, P. No. 69, Indraprasta Kirlampudi, Visakhapatnam -530018, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
01.01.1963 |
||||||||||
|
Qualification: |
B.E |
||||||||||
|
Date of Appointment : |
01.04.2005 |
||||||||||
|
PAN No.: |
AEEPG6239F |
||||||||||
|
DIN No.: |
00073080 |
||||||||||
|
|||||||||||
|
|
|
||||||||||
|
Name : |
Mrs. Parvathi Devi Garapati |
||||||||||
|
Designation : |
Director |
||||||||||
|
Address : |
58-15-114 Santhi Nagar, Nad Kotha Road,
Visakhapatnam-530009, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
10.06.1964 |
||||||||||
|
Qualification: |
B Com |
||||||||||
|
Date of Appointment : |
01.04.2005 |
||||||||||
|
PAN No.: |
ABOPG1316N |
||||||||||
|
DIN No.: |
00094961 |
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|
|||||||||||
|
|
|
||||||||||
|
Name : |
Mrs. Sita Ratnam Gudapati |
||||||||||
|
Designation : |
Director |
||||||||||
|
Address : |
12-2-790/157, Ayodhya Nagar Colony Near Kanaka Durga Temple, Mehdipatnam, Hyderabad-500028, Telangana, India |
||||||||||
|
Date of Birth/Age : |
17.01.1967 |
||||||||||
|
Qualification: |
MBBS |
||||||||||
|
Date of Appointment : |
19.11.2015 |
||||||||||
|
PAN No.: |
ASPPG4586Q |
||||||||||
|
DIN No.: |
07344104 |
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|
|
||||||||||
|
Name : |
Mr. Lucas Peter Thalakala |
||||||||||
|
Designation : |
Additional Director |
||||||||||
|
Address : |
D No.11-2-1, H-13, Sea Shells Apartments Waltair, Uplands, Visakhapatnam-530003, Andhra Pradesh, India |
||||||||||
|
Date of Birth/Age : |
13.04.1956 |
||||||||||
|
Qualification : |
M.A. Economics |
||||||||||
|
Date of Appointment : |
25.11.2016 |
||||||||||
|
PAN No.: |
AAHPP4831H |
||||||||||
|
DIN No.: |
07664071 |
||||||||||
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|
||||||||||
|
Name : |
Mr. Satish Soni |
||||||||||
|
Designation : |
Additional Director |
||||||||||
|
Address : |
N-110, Greater Kailash Part-1 Greater Kailash, South Delhi, Delhi-110048, India |
||||||||||
|
Date of Birth/Age : |
04.02.1956 |
||||||||||
|
Qualification : |
Master in Science |
||||||||||
|
Date of Appointment : |
25.11.2016 |
||||||||||
|
PAN No.: |
ABWPS4800N |
||||||||||
|
DIN No.: |
07664074 |
||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Satyanarayana Venkata Gudapati |
|
Designation : |
Chief Finance Officer |
|
Address : |
Dig Ci, House No.03, Type Vi NSG Campus, Manesar, Gurgaon-122051, Haryana, India |
|
Date of Appointment : |
20.11.2016 |
|
PAN No.: |
AEAPG2848A |
|
|
|
|
Name : |
Mrs. Swapna Bansode Rajaram |
|
Designation : |
Company Secretary |
|
Address : |
Chhaya Niwas M.I.D.C. Road, Latur-413512, Maharashtra, India |
|
Date of Appointment : |
01.12.2016 |
|
PAN No.: |
CAAPB2096P |
|
|
|
|
Name : |
Ms. Kivtana |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Garapati Radha Krishna |
9651300 |
99.95 |
|
Garapati Parvathi Devi |
5000 |
0.05 |
|
|
|
|
|
Total |
9656300 |
100.00 |
AS ON: 03.10.2016
|
Names of Allottees |
|
No. of Shares |
|
Radha Krishna Garapati |
|
9651300 |
|
Parvathi Devi Garapati |
|
5000 |
|
|
|
|
|
Total |
|
9656300 |
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the Infrastructure Sector and primarily in the Marine Works,
Construction of Roads, Buildings, Bridges & Fly Overs etc. [Registered
Activity] |
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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 Divulged |
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||||||
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Imports : |
Not Divulged |
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|
||||||
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Terms : |
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||||||
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Selling : |
Not Divulged |
||||||
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|
|
||||||
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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 : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai-400013, Maharashtra, India · Vijaya Bank Maharanipeta Branch, Apuroopa Arcade, Near Jagadamba Junction, Maharanipeta, Visakhapatnam - 530002, Andhra Pradesh, India |
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|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution: |
· Citicorp Finance (India) Limited 1-10-72, 4Th Floor, Ashoka Janardhan Chambersbegum Pet Main Road, Hyderabad-500016, Telangana, India |
|
|
|
|
Auditors : |
|
|
Name : |
Rama Subba Rao and Company Chartered Accountants |
|
Address : |
10-1-38/2/2, Second Floor, Sampath Vinayaka Temple Road, Wattair
Uplands, Vishakhapattanam-530003, Andhra Pradesh, India |
|
PAN No.: |
AGWPK6276E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises controlled or significantly
influenced by key management personnel or their relatives: |
Naram Enterprises Private Limited |
CAPITAL STRUCTURE
AFTER: 23.09.2017
Authorised Capital : INR 250.000 Million
Issued, Subscribed & Paid-up Capital : INR 239.906
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19312600 |
Equity Shares |
INR 10/- each |
INR 193.126
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
193.126 |
96.563 |
96.563 |
|
(b) Reserves and Surplus |
169.034 |
214.150 |
180.720 |
|
(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) |
362.160 |
310.713 |
277.283 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.247 |
0.000 |
3.100 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.342 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.589 |
0.000 |
3.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
149.833 |
95.324 |
|
(b) Trade
payables |
289.405 |
193.974 |
100.908 |
|
(c) Other
current liabilities |
453.344 |
521.103 |
138.947 |
|
(d) Short-term
provisions |
20.034 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
762.783 |
864.910 |
335.179 |
|
|
|
|
|
|
TOTAL |
1132.532 |
1175.623 |
615.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
108.040 |
146.576 |
166.509 |
|
(ii)
Intangible Assets |
0.046 |
25.559 |
25.559 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
7.970 |
1.980 |
3.634 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
116.056 |
174.115 |
195.702 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
319.002 |
479.481 |
164.042 |
|
(c) Trade
receivables |
395.250 |
190.886 |
148.623 |
|
(d) Cash and
bank balances |
224.935 |
237.279 |
43.956 |
|
(e)
Short-term loans and advances |
61.149 |
66.617 |
36.001 |
|
(f) Other
current assets |
16.140 |
27.245 |
27.238 |
|
Total
Current Assets |
1016.476 |
1001.508 |
419.860 |
|
|
|
|
|
|
TOTAL |
1132.532 |
1175.623 |
615.562 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1972.443 |
1125.814 |
708.369 |
|
|
Other Income |
28.773 |
8.646 |
9.214 |
|
|
TOTAL |
2001.216 |
1134.460 |
717.583 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
757.041 |
568.317 |
286.250 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
188.375 |
(114.614) |
(3.509) |
|
|
Employee benefit expense |
125.981 |
79.796 |
51.683 |
|
|
Other expenses |
615.910 |
460.099 |
277.950 |
|
|
TOTAL |
1687.307 |
993.598 |
612.374 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
313.909 |
140.862 |
105.209 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
84.044 |
53.181 |
34.370 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
229.865 |
87.681 |
70.839 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.383 |
26.132 |
36.359 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
202.482 |
61.549 |
34.480 |
|
|
|
|
|
|
|
Less |
TAX |
73.226 |
28.119 |
12.017 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
129.256 |
33.430 |
22.463 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.69 |
3.46 |
2.33 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
6.456 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
244.957 |
225.568 |
24.583 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
194.972 |
199.103 |
8.190 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.14 |
61.89 |
76.58 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.99 |
5.90 |
4.77 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
139.53 |
124.58 |
128.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.98 |
0.29 |
0.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.90 |
0.82 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.68 |
0.74 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.01 |
0.48 |
0.38 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.11 |
2.78 |
1.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.30 |
0.55 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.74 |
2.65 |
3.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
6.55 |
2.97 |
3.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.41 |
2.84 |
3.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
35.69 |
10.76 |
8.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.33 |
1.16 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.91 |
0.60 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.26 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.02 |
1.55 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.33 |
1.16 |
1.25 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
96.563 |
96.563 |
193.126 |
|
Reserves & Surplus |
180.720 |
214.150 |
169.034 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
277.283 |
310.713 |
362.160 |
|
|
|
|
|
|
Long-term borrowings |
3.100 |
0.000 |
4.247 |
|
Short term borrowings |
95.324 |
149.833 |
0.000 |
|
Current maturities of
long-term debts |
6.456 |
0.000 |
0.000 |
|
Total
borrowings |
104.880 |
149.833 |
4.247 |
|
Debt/Equity
ratio |
0.378 |
0.482 |
0.012 |
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 |
708.369 |
1125.814 |
1972.443 |
|
|
|
58.930 |
75.201 |
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 |
708.369 |
1125.814 |
1972.443 |
|
Profit/ (Loss) |
22.463 |
33.430 |
129.256 |
|
|
3.17
% |
2.97
% |
6.55
% |
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 |
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
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C75135756 |
10021074 |
VIJAYA BANK |
01/09/2006 |
14/12/2015 |
- |
1350000000.0 |
13-26-2, APAROOPA ARCADEMAHARANIPETAVISAKHAPATNAMAP530002IN |
|
2 |
G33872805 |
10141315 |
HDFC BANK LIMITED |
05/01/2009 |
- |
11/01/2017 |
1603000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G33872466 |
10174010 |
HDFC BANK LIMITED |
04/08/2009 |
- |
11/01/2017 |
3570000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
C66207887 |
10168489 |
STATE BANK OF INDIA OVERSEAS BRANCH |
03/07/2009 |
- |
05/10/2015 |
90000000.0 |
9-1-57,GNT ROADVISAKHAPATNAMAP530013IN |
|
5 |
C65514119 |
10007616 |
CITICORP FINANCE (INDIA) LTD. |
29/05/2006 |
- |
04/09/2015 |
2603574.0 |
1-10-72, 4 TH FLOOR, ASHOKA JANARDHAN CHAMBERSBEGUM PET MAIN ROAD , HYDERABAD.HYDERABADAP500016IN |
|
6 |
C65511255 |
10007624 |
CITI CORP FINANCE (INDIA) LIMITED |
29/05/2006 |
- |
04/09/2015 |
1793298.0 |
1-10-72,4TH FLOOR, ASHOKA JANARDHAN CHAMBERS,BEGUMPET MAIN ROAD,HYDERABAD.HYDERABADAP500016IN |
|
7 |
C65514713 |
10007611 |
CITICORP FINANCE (INDIA) LTD. |
01/05/2006 |
- |
04/09/2015 |
765996.0 |
1-10-72, 4 TH FLOOR, ASHOKA JANARDHAN CHAMBER ,BEGUM PET MAIN RAOD , HYDERABADHYDERABADAP500016IN |
|
8 |
C65513301 |
10007615 |
CITICORP FINANCE (INDIA) LTD. |
01/05/2006 |
- |
04/09/2015 |
1622162.0 |
1-10-72, 4 TH FLOOR, ASHOKA JANARDHAN CHAMBERSBEGUM PET MAIN ROAD , HYDERABAD.HYDERABADAP500016IN |
|
9 |
C63214498 |
10385610 |
VIJAYA BANK |
15/10/2012 |
- |
01/09/2015 |
50000000.0 |
MAHARANIPETA BRANCHAPUROOPA ARCADE, MAHARANIPETAVISAKHAPATNAMAP530002IN |
|
10 |
C63215776 |
10268579 |
VIJAYA BANK |
14/01/2011 |
- |
01/09/2015 |
55000000.0 |
MAHARANIPETA BRANCH, APUROOPA ARCADENEAR JAGADAMBA JUNCTION, MAHARANIPETAVISAKHAPATNAMAP530002IN |
CORPORATE INFORMATION
Subject
was established as a firm in the year 1985 and subsequently converted into
private company in the year 2005. The Company engaged in the infrastructure
sector and primarily in the Marine Works, Construction of Roads, Buildings,
Bridges & Fly Overs etc.
GENERAL INFORMATION:
Subject,
having registered office at 10-12-1, Rednam Alcazar, 3rd Floor, Opp.
SBI Main Branch, Old Jail Road, Rednam Gardens, Visakhapatnam, A.P.-530020,
India was incorporated on April 1, 2005 under the provisions of Companies Act, 1956
in Registrar of Companies, Hyderabad (CIN U45200AP2005PLC045795). The Company
is engaged in the business of Civil Works and specialized in Marine Works,
Construction of Roads, Buildings, Bridges& Fly overs etc. Company has been
changed from Private Limited Company to a limited Company on November10, 2016
FIXED ASSETS:
- Land Freehold
- Plant and Equipments
- Furniture and Fixture
- Vehicle
- Office Equipments
- Goodwill
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 63.50 |
|
UK Pound |
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
RUP |
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.