|
|
|
MIRA INFORM REPORT
|
Report No. : |
512203 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
VAISHNAVI INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 2/2, Walton Road, Off: Vittal Malya Road, Bangalore – 560001,
Karnataka |
|
Tel. No.: |
91-80-66966692 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
13.11.2006 |
|
|
|
|
Com. Reg. No.: |
08-040918 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 99.933 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102KA2006PTC040918 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV3531A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Services. (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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject incorporated in the year 2006 and it is having good track. For the financial year 2018, the company has registered decreased in
its revenue from operations as compared to previous year has maintained average
profitability margin of 4.52%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base along with average debt balance sheet. Rating also derives strength from company’s long standing track
records of business operation. However, rating strength is partially offset by declined in the
revenue as well as profitability during the year and slowdown in the real
estate industry. Trade relations are reported as fair. Business is active. Payments are
seems to be slow but correct. The company can be considered good for normal 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 01.06.2018.
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.:91-80-66966692
LOCATIONS
|
Registered Office : |
No. 2/2, Walton Road, Off: Vittal Malya Road, Bangalore – 560001,
Karnataka, India |
|
Tel. No.: |
91-80-66966692 / 66966696 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 2018
|
Name : |
Mr. Narayanaswamynaidu Chittor Govindaraju |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
11, Vaishnavi, 37th Cross, 8th Block, Jayanagar, Bangalore
– 560082, Karnataka,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.02.1964 |
||||||||||||||||||||||||
|
Qualification : |
B.E. Civil |
||||||||||||||||||||||||
|
Experience : |
26 Years |
||||||||||||||||||||||||
|
Date of Appointment : |
13.11.2006 |
||||||||||||||||||||||||
|
PAN No.: |
ABTPG3410C |
||||||||||||||||||||||||
|
DIN No.: |
00207357 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Chittor Asha Govindaraju |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
11, Vaishnavi, 37th Cross, 8th Block, Jayanagar, Bangalore
– 560082, Karnataka,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
27.01.1967 |
||||||||||||||||||||||||
|
Qualification : |
B.A |
||||||||||||||||||||||||
|
Date of Appointment : |
13.11.2006 |
||||||||||||||||||||||||
|
PAN No.: |
AGDPG9143R |
||||||||||||||||||||||||
|
DIN No.: |
00214841 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Darshan Govindaraju |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
278/A, Vaishnavi, 2nd Main 37th Cross, 8th Block
Jayanagar, Bangalore - 560082, Karnataka, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
25.12.1992 |
||||||||||||||||||||||||
|
Qualification : |
Graduation |
||||||||||||||||||||||||
|
Date of Appointment : |
02.09.2011 |
||||||||||||||||||||||||
|
DIN No.: |
03530335 |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Narayanaswamynaidu Chittor Govindaraju |
|
7061083 |
|
Chittor Asha Govindaraju |
|
200000 |
|
Prabha Narayan |
|
200000 |
|
Narasimha Prasad R |
|
100000 |
|
Ananth Doraswamy |
|
200000 |
|
Naganand Doraswamy |
|
100000 |
|
N Janardhana Babu |
|
250000 |
|
Pradeepa Janardhana |
|
225000 |
|
AR Srinivas |
|
200000 |
|
C Parasmal |
|
100000 |
|
C Ashok Kumar |
|
100000 |
|
C Mahendra Kumar |
|
100000 |
|
AC Heri |
|
100000 |
|
RS Shetty |
|
125000 |
|
A R Dilip Kumar |
|
300000 |
|
A R Prasad |
|
100000 |
|
A R Raghu |
|
200000 |
|
Dr. V S Jawali |
|
132250 |
|
Kamala Bai |
|
100000 |
|
Meena Kumari |
|
25000 |
|
Varun A Parwal |
|
25000 |
|
Nitin Parwal JUF |
|
25000 |
|
Mukesh Parwal HUF |
|
25000 |
|
Total |
|
9993333 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
72.66 |
|
Public – (Individual/ Hindu
Undivided Family – Indian |
21.34 |
|
Public – (Individual/ Hindu
Undivided Family – Non-resident India (NRI) |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Services. (Registered activity) |
||||
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|
||||
|
Products : |
|
||||
|
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|
||||
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Brand Names : |
Not Divulged |
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|
||||
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Agencies Held : |
Not Divulged |
||||
|
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|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
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 : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions : |
Vistra ITCL (India) Limited, IL & FS Financial Centreplot
No. C22 G Block Bandrakurla Complex, Bandra East, Mumbai – 400051,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. P. Krishnamurthy and Company Chartered Accountants |
|
Address : |
No. 36, Second Floor, 4th Main, 14th Cross, Vyalikaval, Bangalore- 560003, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABCPK7127K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company: |
U70109KA2007PTC063027
U45200KA2007PTC063031 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
U45200KA1990PTC011459
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9993333 |
Equity Shares |
INR 10/- each |
INR 99.933
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 |
99.933 |
99.933 |
99.933 |
|
(b) Reserves and Surplus |
709.850 |
693.978 |
629.922 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
809.783 |
793.911 |
729.855 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1257.682 |
1104.664 |
90.020 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
146.014 |
102.642 |
38.014 |
|
(d) long-term
provisions |
6.503 |
4.363 |
4.304 |
|
Total Non-current
Liabilities (3) |
1410.199 |
1211.669 |
132.338 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
395.943 |
|
(b) Trade
payables |
408.411 |
324.828 |
119.124 |
|
(c) Other
current liabilities |
1012.498 |
722.392 |
1275.636 |
|
(d) Short-term
provisions |
121.076 |
149.843 |
109.733 |
|
Total Current
Liabilities (4) |
1541.985 |
1197.063 |
1900.436 |
|
|
|
|
|
|
TOTAL |
3761.967 |
3202.643 |
2762.629 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18.369 |
14.533 |
6.825 |
|
(ii)
Intangible Assets |
4.866 |
3.012 |
0.142 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
134.221 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
268.420 |
237.824 |
34.269 |
|
(c) Deferred tax assets (net) |
5.990 |
5.035 |
4.852 |
|
(d)
Long-term loans and advances |
403.648 |
350.718 |
242.818 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
701.293 |
611.122 |
423.127 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1554.462 |
1427.571 |
1067.362 |
|
(c) Trade
receivables |
920.304 |
629.506 |
378.512 |
|
(d) Cash and
bank balances |
52.134 |
93.089 |
490.337 |
|
(e)
Short-term loans and advances |
331.573 |
340.166 |
333.494 |
|
(f) Other
current assets |
202.201 |
101.189 |
69.797 |
|
Total
Current Assets |
3060.674 |
2591.521 |
2339.502 |
|
|
|
|
|
|
TOTAL |
3761.967 |
3202.643 |
2762.629 |
PROFIT
& LOSS ACCOUNT - STANDALONE
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1954.788 |
2208.623 |
1495.343 |
|
|
Other Income |
45.297 |
86.519 |
61.139 |
|
|
TOTAL |
2000.085 |
2295.142 |
1556.482 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1635.925 |
2176.475 |
1235.833 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(126.890) |
(360.209) |
0.000 |
|
|
Employee benefit expense |
184.572 |
114.883 |
70.575 |
|
|
CSR expenditure |
3.701 |
0.985 |
0.000 |
|
|
Other expenses |
137.643 |
146.347 |
109.122 |
|
|
TOTAL |
1834.951 |
2078.481 |
1415.530 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
165.134 |
216.661 |
140.952 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.753 |
1.131 |
0.184 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
143.381 |
215.530 |
140.768 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.961 |
4.282 |
6.801 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
133.420 |
211.248 |
133.967 |
|
|
|
|
|
|
|
Less |
TAX |
45.040 |
74.686 |
43.117 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
88.380 |
136.562 |
90.850 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.84 |
13.67 |
9.09 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
509.000 |
241.143 |
276.216 |
|
Net cash flows from (used in) operations |
(76.918) |
(780.847) |
400.235 |
|
Net cash flows from (used in) operating activities |
(140.090) |
(835.077) |
310.494 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
171.84 |
104.03 |
92.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.12 |
3.51 |
3.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
91.12 |
54.47 |
35.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.11 |
0.15 |
0.13 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
7.11 |
12.35 |
1.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.88 |
0.79 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.18 |
1.70 |
1.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.90 |
1.51 |
2.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.03 |
0.02 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.59 |
191.57 |
766.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.52 |
6.18 |
6.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.35 |
4.26 |
3.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.91 |
17.20 |
12.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.98 |
2.16 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.98 |
0.97 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.22 |
0.25 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
17.68 |
13.47 |
7.63 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.98 |
2.16 |
1.23 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
99.933 |
99.933 |
99.933 |
|
Reserves & Surplus |
629.922 |
693.978 |
709.850 |
|
Net
worth |
729.855 |
793.911 |
809.783 |
|
|
|
|
|
|
Long-term borrowings |
90.020 |
1104.664 |
1257.682 |
|
Short term borrowings |
395.943 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
276.216 |
241.143 |
509.000 |
|
Total
borrowings |
762.179 |
1345.807 |
1766.682 |
|
Debt/Equity
ratio |
1.044 |
1.695 |
2.182 |
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 |
1495.343 |
2208.623 |
1954.788 |
|
|
0.000 |
47.700 |
(11.493) |
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 |
1495.343 |
2208.623 |
1954.788 |
|
Profit/ (Loss) |
90.850 |
136.562 |
88.380 |
|
|
6.08
% |
6.18
% |
4.52
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
99.933 |
99.933 |
|
(b) Reserves and Surplus |
|
644.824 |
645.622 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
(0.201) |
(0.174) |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
744.757 |
745.555 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1257.682 |
1104.664 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
146.014 |
102.642 |
|
(d) long-term
provisions |
|
6.503 |
4.364 |
|
Total Non-current
Liabilities (3) |
|
1410.199 |
1211.670 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
408.411 |
324.855 |
|
(c) Other
current liabilities |
|
1014.227 |
723.912 |
|
(d) Short-term
provisions |
|
121.076 |
149.843 |
|
Total Current
Liabilities (4) |
|
1543.714 |
1198.610 |
|
|
|
|
|
|
TOTAL |
|
3698.469 |
3155.661 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
18.369 |
14.534 |
|
(ii)
Intangible Assets |
|
18.093 |
16.239 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
245.193 |
214.597 |
|
(c) Deferred tax assets (net) |
|
5.990 |
5.035 |
|
(d)
Long-term loans and advances |
|
403.648 |
350.718 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
691.293 |
601.123 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1653.925 |
1526.606 |
|
(c) Trade
receivables |
|
920.304 |
629.506 |
|
(d) Cash and
bank balances |
|
52.695 |
93.600 |
|
(e)
Short-term loans and advances |
|
178.050 |
203.637 |
|
(f) Other
current assets |
|
202.202 |
101.189 |
|
Total
Current Assets |
|
3007.176 |
2554.538 |
|
|
|
|
|
|
TOTAL |
|
3698.469 |
3155.661 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1954.788 |
2208.623 |
|
|
Other Income |
|
28.777 |
71.785 |
|
|
TOTAL |
|
1983.565 |
2280.408 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1636.354 |
2176.789 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(127.319) |
(360.523) |
|
|
Employee benefit expense |
|
184.572 |
114.883 |
|
|
CSR expenditure |
|
3.701 |
0.985 |
|
|
Other expenses |
|
137.820 |
146.560 |
|
|
TOTAL |
|
1835.128 |
2078.694 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
148.437 |
201.714 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
21.754 |
1.131 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
126.683 |
200.583 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
9.961 |
4.282 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
116.722 |
196.301 |
|
|
|
|
|
|
|
Less |
TAX |
|
45.040 |
74.686 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
71.682 |
121.615 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
7.17 |
12.17 |
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 |
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 |
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 |
PERFORMANCE / OPERATIONS
OF THE COMPANY:
The Company achieved a turnover of INR. 1954.800 Million for the financial year as against INR 2208.600 Million for the previous year 2015-16 despite various adverse market conditions. Their EBITD (Earnings before Interest, Tax and Depreciation) in the year is INR 165.100 Million as compared to INR 216.700 Million in the year 2015-16.
The Company's main operations continue to undertake development of residential and commercial projects.
The summary of status
of the projects undertaken by the Company is as under:
ON GOING PROJECTS:
- Vaishnavi ARS Gardenia - High Rise Residential Development in T Dasarahalli, Peenya Jalahalli Cross, Bangalore Under JDA
- Vaishnavi Oasis - High Rise Residential Development in J P Nagar, off. Kanakpura Road, Bangalore Under JDA
- Vaishnavi Signature - High Rise “A” Grade Commercial office space Development in Bellandur, Outer Ring Road, Bangalore Under JDA
- Vaishnavi Meridian - High Rise “A” Grade Commercial office space Development on Infantry Road, Bangalore Under JDA
- Vaishnavi Greens Plotted Development in Bidadi Off Mysore Road
PROJECTS THROUGH
SPVs:
Vaishnavi North 24 Residential Development in Kempapura, Near Hebbal, The project is being executed through SPV - Vaishnavi Anushka Infrastructure LLP.
COMPLETED PROJECTS:
- Vaishnavi Terraces - High Rise Residential Development in Dollars Colony, J P Nagar, Bangalore under JDA
- Vaishnavi Commune - Residential Development in Chikkakannalli, off. Sarjapura Road, Bangalore
- Vaishnavi. MSR - Union 29 - Commercial Office Space Building on Union Street Bangalore.
- Essae Vaishnavi Spectrum - Build to suit Hospital at Ambalipura Village, Outer Ring Road - Sarjapura Road, Bangalore under JDA
PROJECTS THROUGH
SPVs:
Vaishnavi Commune-2 Residential Development in Chikkakannalli, Sarjapura Road, Bangalore under JDA, the project is being executed through SPV - Vaishnavi Villas
FUTURE OUTLOOK:
In the last year the sentiments of the market were down and buyers and investors were on a wait and watch mode. Now with clarity on RERA, GST the market is settling down and expected to move up towards stability in next few quarters. On the Commercial space front, Bangalore has witnessed good absorption and companies are in the mode of consolidation.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from others |
10.000 |
0.000 |
|
Loans and advances from directors |
436.533 |
340.801 |
|
Total |
446.533 |
340.801 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G63202386 |
100135234 |
VISTRA ITCL (INDIA) LIMITED |
03/10/2017 |
- |
- |
5000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
2 |
G62994181 |
100135226 |
VISTRA ITCL (INDIA) LIMITED |
28/09/2017 |
- |
- |
5000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
3 |
G57081473 |
100134483 |
VISTRA ITCL (INDIA) LIMITED |
15/09/2017 |
- |
- |
25000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
4 |
G54960471 |
100127688 |
VISTRA ITCL (INDIA) LIMITED |
17/08/2017 |
- |
- |
275000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
5 |
G60801511 |
100123159 |
VISTRA ITCL (INDIA) LIMITED |
17/08/2017 |
12/10/2017 |
- |
310000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
6 |
G51828226 |
100119332 |
IDBI TRUSTEESHIP SERVICES LIMITED |
18/05/2017 |
- |
- |
500000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani MargBallard EstateMUMBAIMH400001IN |
|
7 |
G62768353 |
100134524 |
BAJAJ FINANCE LIMITED |
28/04/2017 |
- |
- |
300000000.0 |
AKURDI PUNEPuneMa411035IN |
|
8 |
G52611951 |
100120892 |
JM FINANCIAL PRODUCTS LIMITED |
28/03/2017 |
- |
- |
500000000.0 |
7th Floor, Cnergy, Appasaheb Marathe MargPrabhadeviMumbaiMa400025IN |
|
9 |
G29186897 |
100064928 |
JM FINANCIAL CREDIT SOLUTIONS LIMITED |
23/06/2016 |
- |
- |
330000000.0 |
7th Floor, Cnergy, Appasaheb Marathe Marg,PrabhadeviMUMBAIMa400025IN |
|
10 |
G87061677 |
10576103 |
TATA CAPITAL HOUSING FINANCE LIMITED |
02/06/2015 |
28/03/2018 |
- |
950000000.0 |
11th Floor, Tower A, Peninsula Business Park,Ganpatrao Kadam Marg, Lower Parel,MUMBAIMH400013IN |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
5.015 |
12.194 |
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- 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,
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 67.62 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
STL |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.