|
|
|
MIRA INFORM REPORT
|
Report No. : |
516197 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
DOSTI REALTY LIMITED |
|
|
|
|
Registered
Office : |
Lawrency and Mayo House, 1st Floor,276 Dr. D.N. Road, Fort, Mumbai - 400001, Maharashtra, |
|
Tel. No.: |
91-22-22198500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.01.2008 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2008PLC178101 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 450.000 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD7714K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Real Estate Activity. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Maximum Credit Limit : |
USD 19000000 INR 133000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Dosti Group which is promoted by Mr. Kishan
Goradia and Mr. Deepak Goradia. It was incorporated in the year 2008 and
engaged in Real Estate Activity. As per financial of March 2017, the company has registered marginal
decline in its revenue and has reported good profit margin. Rating takes into consideration the company’s satisfactory track
record of business operations marked by healthy net worth base along with
strong debt coverage indicators and good liquidity position. Rating also takes into account the professional and experienced
management, resourceful partners in joint venture projects. Further, the company has reported a good Earning Per Share of INR
14.71 against its Face Value of INR 10. However, rating strength is partially offset by high execution and
approvals risk as majority of ongoing projects are in nascent stage of
construction and geographical concentration of projects. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
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 |
CARE |
|
Rating |
Long term facilitates = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
28.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 25.06.2018.
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 DECLINED BY
|
Name : |
Mr. Maheshwar |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9167700146 |
|
Date : |
19.06.2018 |
LOCATIONS
|
Registered/ Administrative Office : |
Lawrency and Mayo House, 1st Floor,276 Dr. D.N. Road, Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22198500 |
|
Mobile No.: |
91-9167700146 [Mr. Maheshwar] |
|
Fax No.: |
91-22-22055556 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office: |
Dosti Shoppe Imperia, 2nd Floor, Opposite ‘R’ Mall, Ghodbunder Road, Manpada, Thane (West) – 400607, Maharashtra, India |
|
Tel. No.: |
91-22-25847200 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Hiten Chandulal Timbadia |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Block 2 3 Rd Floor, Jyoti Sadan, 287-A, Sion Road (East),
Mumbai - 400022, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.02.1964 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
C.A. |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.08.2008 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AABPT2277P |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00210210 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kishan Chunilal Goradia |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 51/A, 5th Floor, Paradise Apartment, 44, Nepean
Sea Road, Mumbai - 400036, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2008 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AADPG7358N |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00375973 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Deepak Kishan Goradia |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 51/A 5th Floor, Paradise Apartment, 44 Nepeansea
Road, Mumbai - 400036, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2008 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEIPG1611B |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00376019 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nayan Champaklal Shah |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
21, Beach View, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age: |
30.07.1955 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Doctor (Radiologist) |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.12.2009 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAFPS0892M |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00823070 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajesh Premji Shah |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No 1801, 18th Floor, Dosti Elite Metal Rolling Compd,
Nr Sion, Tel Exch Bl , Sion, Mumbai - 400022, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2008 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAKPS9008A |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01240057 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajul Vrajlal Vora |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
601, Krishna Kunj, Hatkesh Society, J.V.P.D Scheme 7th Road,
Vile Parle (West), Mumbai -400056, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2008 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AABPV6289R |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01240155 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Renu Brijlal Bang |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
304,Rinka Tower, Bageshree Park,Shiv Sena Galli Bhayander
West Thane 401101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07780681 |
||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Narendra Ramniranjan Jain |
|
Designation : |
Company Secretary |
|
Address : |
B No.2, Vaikunth, 8th Road, Sindhi Society, Chembur.
Mumbai – 400071, Maharashtra, India |
|
Date of Appointment : |
22.01.2008 |
|
PAN No.: |
AAHPJ7372D |
|
|
|
|
Name : |
Mr. Rajesh Premji Shah |
|
Designation : |
CFO(KMP) |
|
Address : |
Flat No 1801, 18th Floor, Dosti Elite Metal Rolling Compd, Nr Sion Tel Exch Bl , Sion, Mumbai - 400022, Maharashtra, India |
|
Date of Appointment : |
11.03.2015 |
|
PAN No.: |
AAKPS9008A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kishan Chunilal Goradia |
|
5400000 |
|
Deepak Kishan Goradia |
|
19350000 |
|
Rajesh Premji Shah |
|
3150000 |
|
Rajul Vrajlal Vora |
|
3150000 |
|
Rasika Kishan Goradia |
|
450000 |
|
Sejal Deepak Goradia |
|
10799900 |
|
Shraddha Deepak Goradia |
|
1350000 |
|
Anuj Deepak Goradia |
|
1350000 |
|
Sadhana Nimesh Shah |
|
100 |
|
|
|
|
|
Total |
|
45000000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
43.00 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
57.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Real Estate Activity. [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution: |
· Housing Development Finance Corporation Limited Ramon House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Natvarlal Vepari and Company Chartered Accountants |
|
Address : |
Oricon House, 4th Floor, 12, K Dubash Marg, Fountain, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFN2322E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies: |
· Lavitra Properties Private Limited [U45202MH2008PTC185855] · Adrika Developers Private Limited [U45200MH2006PTC158714] · Chalama Infraproperties Private Limited [U45203MH2008PTC177757] · Darsh Buildwell Private Limited [U45201MH2008PTC177758] · Bhavanika Buildcon Private Limited [U45200MH2006PTC158702] · Eshani Properties Private Limited [U70102MH2008PTC181757] · Fanibhushan Build Tech Private Limited [U45202MH2008PTC181183] · Gaurhari Estate Private Limited [U70102MH2008PTC184288] · Hrishikesh Landmark Private Limited [U70102MH2008PTC184289] · Idhika Developers Private Limited [U70102MH2008PTC185585] · Janhavi Land Developers Private Limited [U70102MH2008PTC185583] · Kanta Buildcon Private Limited [U45202MH2008PTC186086] · Lavitra Properties Private Limited [U45202MH2008PTC185855] · KNK Trading Private Limited [U51900MH1998PTC114903] |
|
|
|
|
Joint venture: |
· Dosti Corporation (Vihar) · Dosti Corporation (Pinnacle) · Dosti Enterprises · Friends Development Corporation · Crystal Builders and Developers · Dosti Corporation (Business Park) · Maitri Associates · Dosti Corporation (Presidio) · Navjivan Industrial Corporation · Dosti Corporation |
|
|
|
|
Other Related Party: |
Dosti Foundation |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives: |
· Maitri Land Developers Private Limited [U45200MH1997PTC105985] · New Wadala Sports Club Private Limited [U92413MH2005PTC154523] |
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61500000 |
Equity Shares |
INR 10/- each |
INR 615.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
INR 10/- each |
INR 450.000 Million |
|
|
|
|
|
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
INR 10/- each |
INR 450.000 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 |
450.000 |
450.000 |
450.000 |
|
(b) Reserves & Surplus |
6198.657 |
5537.548 |
2031.540 |
|
(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) |
6648.657 |
5987.548 |
2481.540 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3467.778 |
4011.984 |
2256.361 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
21.633 |
6.735 |
0.300 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3489.411 |
4018.719 |
2256.661 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
666.801 |
693.924 |
459.096 |
|
(b)
Trade payables |
424.506 |
608.709 |
168.089 |
|
(c)
Other current liabilities |
3360.740 |
3080.774 |
716.911 |
|
(d)
Short-term provisions |
462.787 |
871.874 |
56.046 |
|
Total
Current Liabilities (4) |
4914.834 |
5255.281 |
1400.142 |
|
|
|
|
|
|
TOTAL |
15052.902 |
15261.548 |
6138.343 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
195.777 |
30.253 |
18.826 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
52.081 |
78.251 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
4.212 |
4.212 |
|
(b) Non-current
Investments |
2785.356 |
3077.959 |
1791.710 |
|
(c) Deferred tax assets
(net) |
106.442 |
142.187 |
2.375 |
|
(d) Long-term Loan
and Advances |
3825.325 |
363.699 |
547.903 |
|
(e)
Other Non-current assets |
154.036 |
113.394 |
0.000 |
|
Total
Non-Current Assets |
7119.017 |
3809.955 |
2365.026 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5778.568 |
6360.235 |
2775.717 |
|
(c)
Trade receivables |
825.167 |
792.663 |
185.009 |
|
(d)
Cash and cash equivalents |
115.653 |
187.179 |
143.134 |
|
(e)
Short-term loans and advances |
822.438 |
866.707 |
498.945 |
|
(f)
Other current assets |
392.059 |
3244.809 |
170.512 |
|
Total
Current Assets |
7933.885 |
11451.593 |
3773.317 |
|
|
|
|
|
|
TOTAL |
15052.902 |
15261.548 |
6138.343 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3835.657 |
4009.955 |
760.851 |
|
|
|
Other Income |
260.364 |
88.919 |
162.940 |
|
|
|
TOTAL |
4096.021 |
4098.874 |
923.791 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
416.393 |
|
|
|
Employees benefits expense |
164.436 |
100.858 |
48.724 |
|
|
|
CSR expenditure |
0.000 |
0.000 |
1.500 |
|
|
|
Other expenses |
2658.986 |
3097.787 |
90.370 |
|
|
|
TOTAL |
2823.422 |
3198.645 |
556.987 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1272.599 |
900.229 |
366.804 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
309.581 |
20.122 |
112.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
963.018 |
880.107 |
254.432 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.787 |
5.729 |
5.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
941.231 |
874.378 |
248.546 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
279.208 |
220.437 |
64.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
662.023 |
653.941 |
184.417 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
|
|
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1953.133 |
1718.594 |
179.179 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
4218.367 |
(920.857) |
(87.309) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
3771.128 |
(1087.817) |
(112.056) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
78.52 |
72.15 |
88.75 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.65 |
5.06 |
4.11 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
147.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.22 |
0.14 |
0.13 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
5.13 |
7.99 |
15.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.72 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.92 |
1.07 |
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.74 |
0.88 |
0.56 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.04 |
0.02 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.11 |
44.74 |
3.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
17.26 |
16.31 |
24.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.40 |
4.28 |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.96 |
10.92 |
7.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.61 |
2.18 |
2.69 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.44 |
0.97 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.44 |
0.39 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
13.53 |
14.28 |
6.43 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.61 |
2.18 |
2.69 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
450.000 |
450.000 |
450.000 |
|
Reserves & Surplus |
2031.540 |
5537.548 |
6198.657 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2481.540 |
5987.548 |
6648.657 |
|
|
|
|
|
|
long-term borrowings |
2256.361 |
4011.984 |
3467.778 |
|
Short term borrowings |
459.096 |
693.924 |
666.801 |
|
Current Maturities of Long
term debt |
179.179 |
1718.594 |
1953.133 |
|
Total
borrowings |
2894.636 |
6424.502 |
6087.712 |
|
Debt/Equity
ratio |
1.166 |
1.073 |
0.916 |
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 |
760.851 |
4009.955 |
3835.657 |
|
|
|
427.036 |
(4.347) |
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 |
760.851 |
4009.955 |
3835.657 |
|
Profit |
184.417 |
653.941 |
662.023 |
|
|
24.24% |
16.31% |
17.26% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G86126000 |
100172924 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
30/03/2018 |
- |
- |
1000000000.0 |
RAMON HOUSE 169BACKBAY
RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN |
|
2 |
G47528542 |
100107232 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
08/05/2017 |
- |
- |
1500000000.0 |
RAMON HOUSE
169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN |
|
3 |
G46186656 |
100103581 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
28/04/2017 |
- |
- |
3300000000.0 |
RAMON HOUSE
169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN |
|
4 |
G08603060 |
100042042 |
DAIMLER FINANCIAL
SERVICES INDIA PRIVATE LIMITED |
04/07/2016 |
- |
- |
4000000.0 |
UNIT 202, 2ND
FLOOR, CAMPUS 3B,RMZ MILLENNIABUSINESS PARK, NO.143, DR.
M.G.R.ROAD,PERUNGUDICHENNAITA600096IN |
|
5 |
G48310239 |
10599895 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
29/10/2015 |
19/05/2017 |
- |
2500000000.0 |
RAMON HOUSE
169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN |
|
6 |
C42171827 |
10294080 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
14/06/2011 |
22/01/2015 |
- |
3400000000.0 |
RAMON HOUSE 169BACKBAY
RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
|
7 |
B17589870 |
10128239 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
10/10/2008 |
- |
15/07/2011 |
1200000000.0 |
RAMON HOUSE
169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
60.631 |
102.611 |
|
Loans and advances from directors |
606.170 |
591.313 |
|
Total |
666.801 |
693.924 |
STATE OF
COMPANY'S AFFAIRS:
The Company registered total revenue of INR 4096.021 million as compared to INR 4098.874 million on standalone basis in the previous year. The Company has earned PAT of INR 662.023 million as compared to PAT of INR 653.941 million on standalone basis in the previous year. On consolidated basis, your company registered total revenue of INR 3821.593 million as compared to INR 3851.464 million in the previous year. Also, the Company has earned PAT of INR 403.528 million as compared to PAT of INR 763.193 million on consolidated basis in the previous year.
SALIENT FEATURES OF
THE SCHEME OF AMALGAMATION
DLDPL and FDCIPL were engaged in the business of development of real estate. The purpose of the amalgamation was to increase the business efficiency and avail synergy benefits as all the three entities are engaged in the business of Real Estate development.
- The appointed date for the purpose of this amalgamation is 1st April 2015.
- In accordance with the scheme approved, the accounting for this amalgamation has been done in accordance with "Pooling of Interest Method" referred to in Accounting Standard - 14 - "Accounting for Amalgamation" of the Companies (Accounting Standard) Rules, 2006.
- Accordingly, DRL has accounted for the Scheme in its books of accounts with effect from the Appointed Date i.e. 1st April 2015 as under:
With effect from the Appointed Date, all assets and liabilities appearing in the books of accounts of DLDPL and FDCIPL have been transferred to and vested in DRL and have been recorded by DRL at their respective book values.
In consideration of the transfer of the business as a going concern, the Company shall not issue additional shares as DLDPL and FDCIPL were wholly owned subsidiaries of DRL.
The equity shares held in DLDPL and FDCIPL held by the Company have been cancelled under the Scheme.
All inter-company transactions have been eliminated on incorporation of the accounts of DLDPL and FDCIPL in the Company.
The difference between the book value of net identifiable assets and liabilities of DLDPL transferred to DRL and the corresponding carrying value of such identifiable assets and liabilities as held by DRL eliminated pursuant to this scheme has been credited to Capital Reserve Account.
Similarly, difference between the book value of net identifiable assets and liabilities of FDCIPL transferred to DRL and the corresponding carrying value of such identifiable assets and liabilities as held by DRL eliminated pursuant to this scheme has been debited to Goodwill Account as per the scheme which has been subsequently reclassified as Capital Reserve in accordance with Appendix C of IND AS 103" Business Combinations" as it is a Business combinations of entities under common control.
vii. The transactions of the business of DLDPL and FDCIPL with effect from 1st April 2015, have been incorporated in the Company's accounts.
Disclosure in accordance with Appendix C of INDAS 103- Business combinations of entities under common control:
|
Names and general nature of business of the combining entities |
DLDPL and FDCIPL were engaged in the business of development of real estate. The purpose of the amalgamation was to increase the business efficiency and avail synergy benefits as all the three entities are engaged in the business of Real Estate development. |
|
The date on which the transferor obtains control of the transferee Description and number of shares issued, together with the |
April 1, 2015 |
|
percentage of each entity's equity shares exchanged to effect the business combination |
Since the Compaies were 100% Subsidiaries no fresh hares were issued and the existing holding of the Company was cancelled against the Equity capital of the Combining entities. |
|
The amount of any difference between the consideration and the value of net identifiable assets acquired, and the treatment thereof |
The difference between the book value of net identifiable assets and liabilities of DLDPL transferred to DRL and the corresponding carrying value of such identifiable assets and liabilities as held by DRL eliminated pursuant to this scheme has been credited to Capital Reserve Account. Similarly, difference between the book value of net identifiable assets and liabilities of FDCIPL transferred to DRL and the corresponding carrying value of such identifiable assets and liabilities as held by DRL eliminated pursuant to this scheme has been debited to Goodwill Account as per the scheme which has been subsequently reclassified as Capital Reserve in accordance with Appendix C of IND AS 103" Business Combinations" as it is a Business combinations of entities under common control. The aggregate amount of capital reserve as aforesaid is INR 521.482 million |
FIXED ASSETS:
· Plant and Equipment
· Computer Equipment’s
· Office Equipment
· Motor Vehicles
· Vehicles
· Furniture and Fixtures
· Plant and Equipment
·
Buildings
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 67.77 |
|
UK Pound |
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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.