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MIRA INFORM REPORT
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Report No. : |
494621 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
HB ESTATE DEVELOPERS LIMITED (w.e.f. 23.01.1996) |
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Formerly Known
As : |
HB HOUSING AND DEVELOPMENT CORPORATION LIMITED |
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Registered
Office : |
Plot No. 31, Echelon Institutional Area, Sector 32,
Gurugram – 122001, Haryana |
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Tel. No.: |
91-124-4675500 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.09.1994 |
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Com. Reg. No.: |
05-034146 |
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Capital
Investment / Paid-up Capital : |
INR 964.120 Million |
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CIN No.: [Company Identification
No.] |
L99999HR1994PLC034146 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject
is engaged in construction and hotels businesses. [Registered Activity] |
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No. of Employees
: |
225 (Approximately) |
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 1950000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994 and it is engaged in construction and hotels businesses. As per financials of March 2017, the company has registered a growth of 7.95% in its revenue as compared to its previous year’s revenue but has reported losses. Rating takes into consideration the company’s moderate financial risk profile marked by negative reserves along with average debt coverage indicators and unfavourable gap between its trade payables to its trade receivables. Rating is further constrained on account of company’s presence in highly competitive and huge working capital requirement construction industry. As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 237.13 million but reported losses. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for
business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.03.2018
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 (91-124-4675500)
LOCATIONS
|
Registered Office : |
Plot No. 31, Echelon Institutional Area, Sector 32, Gurugram
– 122001, Haryana, India |
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Tel. No.: |
91-124-4675500 |
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Fax No.: |
91-124-4370985 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Lalit Bhasin |
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Designation : |
Chairman |
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Address : |
C-2/7, Safdarjung Development Area, Hauz
Khas, New Delhi – 110016, India |
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Date of Appointment : |
20.09.1994 |
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DIN No.: |
00002114 |
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Name : |
Mrs. Asha Mehra |
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Designation : |
Director |
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Address : |
B-7/5131, Vasant Kunj, New Delhi – 110070,
India |
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Date of Appointment : |
12.08.2009 |
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DIN No.: |
02658967 |
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Name : |
Mr. Anil Goyal |
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Designation : |
Director |
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Address : |
S-383, Ground Floor, Greater Kailash
Part-II, New Delhi – 110048, India |
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Date of Birth/Age : |
22.09.1959 |
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Date of Appointment : |
20.09.1994 |
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DIN No.: |
00001938 |
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Name : |
Mr. Jagmohan Lal Suri |
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Designation : |
Director |
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Address : |
H-13 Maharani Bagh, New Delhi – 110065,
India |
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Date of Appointment : |
20.09.1994 |
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DIN No.: |
00002373 |
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Name : |
Mr. Rajesh Jain |
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Designation : |
Director |
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Address : |
C -6/58, Safdar Jung Development Area, New
Delhi – 110016, India |
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Date of Appointment : |
29.08.2007 |
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DIN No.: |
00031590 |
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Name : |
Mr. Luv Malhotra |
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Designation : |
Director |
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Address : |
K-1438-39, Palam Vihar, Gurugram – 122017, Haryana,
India |
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Date of Appointment : |
31.03.2015 |
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DIN No.: |
00030477 |
KEY EXECUTIVES
|
Name : |
Mrs. Radhika Khurana |
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Designation : |
Company Secretary |
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Address : |
M5/A12, Jhulelal Appartment, Pitampura, New
Delhi – 110034, India |
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Date of Appointment : |
29.05.2017 |
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PAN No.: |
CLPPK0691D |
SHAREHOLDING PATTERN
AS ON December 2017
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
12034628 |
74.57 |
|
(B) Public |
4103659 |
25.43 |
|
Grand Total |
16138287 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu
undivided Family |
8087273 |
50.11 |
|
Lalit Bhasin |
7414473 |
45.94 |
|
Rima Arora |
332800 |
2.06 |
|
Kanishk Kapur |
75000 |
0.46 |
|
Ayush Kapur |
75000 |
0.46 |
|
Mehar Arora |
75000 |
0.46 |
|
Manasvin Arora |
75000 |
0.46 |
|
Mamta kapur |
40000 |
0.25 |
|
Any Other
(specify) |
3947355 |
24.46 |
|
H B Portfolio
Limited |
2041587 |
12.65 |
|
H B Stockholdings
Limited |
1615608 |
10.01 |
|
R R B Securities
Limited |
256000 |
1.59 |
|
RRB Master
Holdings Limited |
34160 |
0.21 |
|
Sub Total A1 |
12034628 |
74.57 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
12034628 |
74.57 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
1125 |
0.01 |
|
Financial
Institutions/ Banks |
145 |
0.00 |
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Sub Total B1 |
1270 |
0.01 |
|
B2) Central
Government/ State Government(s)/ President of India |
|
0.00 |
|
B3)
Non-Institutions |
|
0.00 |
|
Individual share
capital upto INR 0.200 million |
2453392 |
15.20 |
|
Individual share capital
in excess of INR 0.200 million |
176431 |
1.09 |
|
NBFCs registered
with RBI |
75 |
0.00 |
|
Any Other
(specify) |
1472491 |
9.12 |
|
CHL Limited |
259984 |
1.61 |
|
Delhi Iron &
Steel Co (P) Limited |
165656 |
1.03 |
|
Bodies Corporate |
679500 |
4.21 |
|
Clearing Members |
12984 |
0.08 |
|
NRI |
60066 |
0.37 |
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Trusts |
25 |
0.00 |
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IEPF Account |
719916 |
4.46 |
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Investor
Education and Protection Fund Author |
719916 |
4.46 |
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Sub Total B3 |
4102389 |
25.42 |
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B=B1+B2+B3 |
4103659 |
25.43 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in construction and hotels businesses. [Registered Activity] |
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Products / Services
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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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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
225 (Approximately) |
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Bankers : |
·
State Bank of India, SME Branch 59, Community
Centre, Phase-1, Naraina, New Delhi – 110028, India |
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Facilities : |
NOTES: LONG TERM BORROWINGS Maturity Profile of
Secured Term Loan from banks are as under: [INR in Million]
·
Vehicle
Loan From HDFC Bank Secured by way of hypothecation of Vehicle Financed. The Rate of Interest is 10% P.A. repayable in 36 monthly installments. Last installment paid in May, 2016. ·
Vehicle
Loan From ICICI Bank Secured by way of hypothecation of Vehicle Financed. The Rate of Interest is 9.75% P.A. repayable in 36 monthly installments. Last installment paid in April, 2016. ·
Term
Loans From Yes Bank Secured by way of exclusive charge on Company’s hotel land and hotel building situated in Sector 44, Gurgaon, exclusive charge on all present and future moveable Fixed Assets and Current Assets of the Project (Taj Vivanta Hotel), personal guarantee of Director Mr. Lalit Bhasin, Non Disposal Undertaking (NDU) of entire Shareholding of the Company held by Mr. Lalit Bhasin, negative lien on his entire Shareholding in the Company for entire tenor of loan facility. The Term Loan - I disbursed was of INR 1000.000 million repayable in 56 monthly installments starting from October, 2015. The loan was repaid during the year. Rate of Interest was 12.50%. The Term Loan - II disbursed was of ` 80 Crore repayable in 44 Quarterly installments starting from February, 2016. Last installment due in November, 2026. The Rate of Interest is 12.50%. The Term Loan - III disbursed during the year is of ` 100 Crore repayable in 44 Quarterly installments starting from November, 2018. Last installment due in August, 2029. The Rate of Interest is 2.25% over and above Bank’s One Year MCLR. SHORT TERM BORROWINGS · Secured by way of exclusive charge as specified in Note no. 3 in respect of term loan facilities from Yes Bank Ltd |
|
Auditors : |
|
|
Name : |
P. Bholusaria and Company Chartered Accountants |
|
Address : |
26/11, Shakti Nagar, Delhi – 110007, India |
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Membership No.: |
092648 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over which significant
influence / control exist of the relatives of persons : |
· RRB Master Securities Delhi Limited |
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|
Enterprises under direct
or indirect common control / significant influence : |
· HB Stockholdings Limited · HB Portfolio Limited · HB Securities Limited (Subsidiary of HB Portfolio Limited) · HB Leasing and Finance Co Limited · RRB Securities Limited · RRB Masterholdings Limited (Subsidiary of RRB Securities Limited) |
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|
|
|
Enterprises under
Joint ventures / Associate Company : |
· Parsvnath HB Projects Private Limited -Associate |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
INR 10/- each |
INR 350.000 Million |
|
8000000 |
Redeemable Preference Shares |
INR 100/- each |
INR 800.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 1150.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16967625 |
Equity Shares |
INR 10/- each |
INR 169.676 Million |
|
3000000 |
9% Redeemable Non-Convertible Non-Cumulative
Preference Shares |
INR 100/- each |
INR 300.000 Million |
|
5000000 |
9% Redeemable Non-Convertible Non-Cumulative Preference Shares-Series II |
INR 100/- each |
INR 500.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 969.676
Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16138287 |
Equity Shares |
INR 10/- each |
INR 161.383 Million |
|
|
Add: Forfeited shares- 829338 Equity Shares |
|
INR 2.737 Million |
|
3000000 |
9% Redeemable Non-Convertible Non-Cumulative
Preference Shares |
INR 100/- each |
INR 300.000 Million |
|
5000000 |
9% Redeemable Non-Convertible Non-Cumulative Preference Shares-Series II |
INR 100/- each |
INR 500.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 964.120
Million |
·
Issued Share
Capital of the Company has following classes of shares referred to as under:
Equity Shares is having par value of ` 10/- each. Holder of Equity Shares is entitled to One vote per share. The Dividend proposed, if any, by the Board of Directors is subject to approval of the Shareholders in the ensuing Annual General Meeting. In the event of the Liquidation of the Company, the holder of Equity Shares will be entitled to receive any of the remaining assets of the Company, after distribution of all Preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders. Equity Shares include 40,95,995 Equity Shares of INR 10/- each fully paid up, issued and allotted for consideration other than cash pursuant to Scheme of Amalgamation of erstwhile Pisces Portfolios Private Limited with the Company during Financial Year 2014-15
·
Reconciliation
of the number of Equity Shares outstanding and Amount of Equity Share Capital
as on 31st March, 2017 & 31st March, 2016 is as under:
|
Equity Shares |
Number
of Shares |
Amount
|
|
Number of shares at the beginning |
16138287 |
161.383 |
|
Add: Issued and allotted pursuant to Scheme of
Amalgamation |
-- |
-- |
|
Number of shares at the end |
16138287 |
161.383 |
·
Particulars
of Shareholders holding more than 5% shares (Equity Shares):
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Lalit Bhasin |
7414473 |
45.94 |
|
HB Stockholdings Limited |
1615608 |
10.01 |
|
HB Portfolio Limited |
2041587 |
12.65 |
Preference Shares having par value of INR 100/- were alloted on 29th March, 2013. The Preference Shares carries 9% coupon rate of dividend (Non-Cumulative). The holders of Preference Shares shall not be entitled to receive notice of or to attend and vote at General meetings of the Equity Shareholders of the Company .The holders of Preference Shares shall be entitled to attend meetings and vote (one vote per share) only on the Resolutions directly affecting their rights. Also the Preference Shareholders shall not be entitled to any bonus or right issue etc. of Equity Shares or other Securities of the Company. The Preference Shares shall carry a preferential right over the Equity Shares of the Company as regards to payment of Dividend and as regards to repayment of the Capital in the event of winding up of the Company. The tenure of the Preference Shares will be 10 years from the date of allotment. The Preference Shares will be redeemed at par in two equal installments i.e. 50% at the end of 9th year from the date of allotment and remaining 50 % at the end of 10th year from the date of allotment.
·
Reconciliation
of the number of Preference Shares outstanding and Amount of Preference Share
Capital as on 31st March, 2017 & 31st March, 2016 is as under:
|
Equity Shares |
Number
of Shares |
Amount
|
|
Number of shares at the beginning |
3000000 |
300.000 |
|
Number of shares issued during the year |
-- |
-- |
|
Number of shares at the end |
3000000 |
300.000 |
·
Particulars
of Shareholders holding more than 5% shares (Preference Shares):
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
HB Stockholdings Limited |
750000 |
25.00 |
|
Aquarious Portfolios Private Limited |
300000 |
10.00 |
|
Gemini Portfolios Private Limited |
350000 |
11.67 |
|
HB Portfolio Private Limited |
750000 |
25.00 |
|
Merrygold Investments Limited |
750000 |
25.00 |
Preference Shares having par value of INR 100/- were alloted in March 2015. The Preference Shares carries 9% coupon rate of Dividend (Non-Cumulative).The holders of Preference Shares shall not be entitled to receive notice of or to attend and vote at General meetings of the Equity Shareholders of the Company .The holders of Preference Shares shall be entitled to attend meetings and vote (one vote per share) only on the Resolutions directly affecting their rights. Also the Preference Shareholders shall not be entitled to any bonus or right issue etc. of Equity Shares or other Securities of the Company. The Preference Shares shall carry a preferential right over the Equity Shares of the Company as regards to payment of Dividend and as regards to repayment of the Capital in the event of winding up of the Company. The tenure of the Preference Shares will be 10th years from the date of allotment. The Preference Shares will be redeemed at par at the end of 10th year from the date of allotment.
·
Reconciliation
of the number of Preference Shares Series-II outstanding and Amount of
Preference Share Capital as on 31st March 2017 and 31st March, 2016 is as
under:
|
Equity Shares |
Number
of Shares |
Amount
|
|
Number of shares at the beginning |
5000000 |
500.000 |
|
Number of shares issued during the year |
-- |
-- |
|
Number of shares at the end |
5000000 |
500.000 |
·
Particulars
of Shareholders holding more than 5% shares (Preference Shares Series-II):
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Gemini Portfolios Private Limited |
2000000 |
40.00 |
|
Aquarious Portfolios Private Limited |
1000000 |
20.00 |
|
Venus Portfolios Private Limited |
2000000 |
40.00 |
FINANCIAL DATA
[all figures are
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 |
964.120 |
964.120 |
964.120 |
|
(b) Reserves & Surplus |
(280.055) |
9.890 |
318.185 |
|
(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) |
684.065 |
974.010 |
1282.305 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3077.269 |
2919.957 |
2886.018 |
|
(b) Deferred tax liabilities (Net) |
207.462 |
183.696 |
152.362 |
|
(c) Other long term
liabilities |
97.261 |
103.388 |
110.101 |
|
(d) long-term
provisions |
4.808 |
3.324 |
3.279 |
|
Total Non-current
Liabilities (3) |
3386.800 |
3210.365 |
3151.760 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
189.287 |
90.000 |
90.000 |
|
(b) Trade
payables |
179.736 |
156.072 |
96.646 |
|
(c) Other
current liabilities |
70.636 |
274.453 |
203.986 |
|
(d) Short-term
provisions |
0.187 |
0.148 |
0.238 |
|
Total Current
Liabilities (4) |
439.846 |
520.673 |
390.870 |
|
|
|
|
|
|
TOTAL |
4510.711 |
4705.048 |
4824.935 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4045.766 |
4171.128 |
4299.882 |
|
(ii)
Intangible Assets |
6.623 |
8.147 |
9.787 |
|
(iii)
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 |
60.073 |
60.359 |
78.224 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.081 |
9.837 |
10.531 |
|
(e) Other
Non-current assets |
34.949 |
63.279 |
86.844 |
|
Total Non-Current Assets |
4155.492 |
4312.750 |
4485.268 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
167.023 |
189.233 |
183.024 |
|
(c) Trade
receivables |
30.180 |
55.138 |
34.012 |
|
(d) Cash and
cash equivalents |
70.979 |
57.657 |
51.747 |
|
(e)
Short-term loans and advances |
86.982 |
89.955 |
70.072 |
|
(f) Other
current assets |
0.055 |
0.315 |
0.812 |
|
Total
Current Assets |
355.219 |
392.298 |
339.667 |
|
|
|
|
|
|
TOTAL |
4510.711 |
4705.048 |
4824.935 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
734.071 |
680.018 |
645.425 |
|
|
|
|
Other Income |
13.125 |
21.430 |
16.878 |
|
|
|
|
TOTAL |
747.196 |
701.448 |
662.303 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Food and Beverages Consumed |
65.917 |
70.415 |
55.131 |
|
|
|
|
Changes in inventories of Finished Goods/ Stock-in-Trade |
16.304 |
0.000 |
23.275 |
|
|
|
|
Employee Benefits Expenses |
174.345 |
162.097 |
151.540 |
|
|
|
|
Exceptional items - Current investments |
(0.987) |
(3.790) |
102.360 |
|
|
|
|
Other expenses |
310.663 |
294.206 |
280.230 |
|
|
|
|
TOTAL |
566.242 |
522.928 |
612.536 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
180.954 |
178.520 |
49.767 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
302.968 |
305.014 |
310.477 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(122.014) |
(126.494) |
(260.710) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
144.166 |
150.466 |
149.150 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(266.180) |
(276.960) |
(409.860) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
23.765 |
31.335 |
40.932 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(289.945) |
(308.295) |
(450.792) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1382.994) |
(1074.699) |
(304.999) |
||
|
|
|
|
|
|
||
|
Add |
ADDITION ON
ACCOUNT OF AMALGAMATION AS ON 01.04.2012 |
0.000 |
0.000 |
(139.038) |
||
|
|
|
|
|
|
||
|
Add |
TRANSFER DUE
TO AMALGAMATION (PERTAINING TO 01.04.2012 TO 31.03.2014 |
0.000 |
0.000 |
(179.870) |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(1672.939) |
(1382.994) |
(1074.699) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Sale / Revenue |
263.741 |
239.806 |
190.284 |
|
|
|
TOTAL EARNINGS |
263.741 |
239.806 |
190.284 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Stores and Operating Supplies |
1.226 |
0.731 |
1.618 |
|
|
|
|
Capital Goods |
1.032 |
1.582 |
3.201 |
|
|
|
TOTAL IMPORTS |
2.258 |
2.313 |
4.819 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
|
|
|
||
|
|
-
Basic /
Diluted (Before Exceptional item) |
(18.03) |
(19.34) |
(21.59) |
||
|
|
-
Basic /
Diluted (After Exceptional item) |
(17.97) |
(19.10) |
(27.93) |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
2.572 |
205.425 |
131.659 |
|
Cash generated from operations |
239.468 |
183.622 |
(283.824) |
|
Net cash from operating activities |
244.024 |
172.588 |
(290.821) |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
31st
Quarter |
|
Net sales |
196.060 |
179.090 |
237.130 |
|
Total Expenditure |
148.000 |
153.680 |
162.580 |
|
PBIDT (Excluding Other Income) |
48.060 |
25.410 |
74.550 |
|
Other income |
3.250 |
5.220 |
5.650 |
|
Operating Profit |
51.310 |
30.630 |
80.200 |
|
Interest |
84.150 |
82.570 |
79.280 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(32.840) |
(51.940) |
0.930 |
|
Depreciation |
36.280 |
36.300 |
35.810 |
|
Profit Before Tax |
(69.120) |
(88.240) |
(34.880) |
|
Tax |
(14.740) |
(23.740) |
(5.640) |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit after tax |
(54.370) |
(64.500) |
(29.250) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(54.370) |
(64.500) |
(29.250) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
15.01 |
29.60 |
19.23 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
24.32 |
12.33 |
18.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
995.25 |
809.01 |
639.85 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.08 |
0.94 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.04 |
0.04 |
0.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.78 |
0.77 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
4.78 |
3.30 |
2.42 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.64 |
0.53 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
5.92 |
4.29 |
3.36 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.60 |
0.59 |
0.16 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(39.50) |
(45.34) |
(69.84) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.43) |
(6.55) |
(9.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(42.39) |
(31.65) |
(35.15) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.81 |
0.75 |
0.87 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.43 |
0.39 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.15 |
0.21 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.39 |
3.34 |
3.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.81 |
0.75 |
0.87 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 21.40/- |
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 |
964.120 |
964.120 |
964.120 |
|
Reserves & Surplus |
318.185 |
9.890 |
(280.055) |
|
Net
worth |
1282.305 |
974.010 |
684.065 |
|
|
|
|
|
|
Long-Term Borrowings |
2886.018 |
2919.957 |
3077.269 |
|
Short Term Borrowings |
90.000 |
90.000 |
189.287 |
|
Current Maturities of Long term debt |
131.659 |
205.425 |
2.572 |
|
Total
borrowings |
3107.677 |
3215.382 |
3269.128 |
|
Debt/Equity
ratio |
2.424 |
3.301 |
4.779 |
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 |
645.425 |
680.018 |
734.071 |
|
|
|
5.360 |
7.949 |
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
|
645.425 |
680.018 |
734.071 |
|
Profit/(Loss) |
(450.792) |
(308.295) |
(289.945) |
|
|
(69.84%) |
(45.34%) |
(39.50%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
964.120 |
964.120 |
|
(b) Reserves &
Surplus |
|
(280.296) |
9.650 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
683.824 |
973.770 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3077.269 |
2919.957 |
|
(b) Deferred tax
liabilities (Net) |
|
207.462 |
183.696 |
|
(c) Other long term liabilities |
|
97.261 |
103.388 |
|
(d) long-term provisions |
|
4.809 |
3.324 |
|
Total Non-current
Liabilities (3) |
|
3386.801 |
3210.365 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
189.287 |
90.000 |
|
(b) Trade payables |
|
179.736 |
156.072 |
|
(c) Other current
liabilities |
|
70.636 |
274.453 |
|
(d) Short-term provisions |
|
0.187 |
0.148 |
|
Total Current Liabilities
(4) |
|
439.846 |
520.673 |
|
|
|
|
|
|
TOTAL |
|
4510.471 |
4704.808 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4045.766 |
4171.128 |
|
(ii) Intangible Assets |
|
6.623 |
8.147 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
59.832 |
60.119 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.081 |
9.837 |
|
(e) Other Non-current
assets |
|
34.949 |
63.279 |
|
Total Non-Current Assets |
|
4155.251 |
4312.510 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
167.023 |
189.233 |
|
(c) Trade receivables |
|
30.180 |
55.138 |
|
(d) Cash and cash
equivalents |
|
70.979 |
57.657 |
|
(e) Short-term loans and
advances |
|
86.983 |
89.955 |
|
(f) Other current assets |
|
0.055 |
0.315 |
|
Total Current Assets |
|
355.220 |
392.298 |
|
|
|
|
|
|
TOTAL |
|
4510.471 |
4704.808 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
734.071 |
680.018 |
|
|
Other Income |
|
13.125 |
21.430 |
|
|
TOTAL |
|
747.196 |
701.448 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Food and Beverages Consumed |
|
65.917 |
70.415 |
|
|
Purchases of
Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
16.304 |
0.000 |
|
|
Employees benefits
expense |
|
174.345 |
162.097 |
|
|
Exceptional
items - Current investments |
|
-0.987 |
-3.790 |
|
|
Other expenses |
|
310.663 |
294.206 |
|
|
TOTAL |
|
566.242 |
522.928 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
180.954 |
178.520 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
302.968 |
305.014 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
-122.014 |
-126.494 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
144.166 |
150.466 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(266.180) |
(276.960) |
|
|
|
|
|
|
|
Less |
TAX |
|
23.765 |
31.335 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX BEFORE SHARE OF
PROFIT/(LOSS) IN ASSOCIATES |
|
(289.945) |
(308.295) |
|
|
|
|
|
|
|
Add / Less |
SHARE OF PROFIT/(LOSS) IN ASSOCIATES |
|
0.000 |
(0.240) |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FOR THE YEAR AFTER TAX |
|
(289.945) |
(308.055) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
-
Basic /
Diluted (Before Exceptional item) |
|
(18.03) |
(19.35) |
|
|
-
Basic /
Diluted (After Exceptional item) |
|
(17.97) |
(19.12) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
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 REVIEW AND OUTLOOK
The total income for the year was INR 747.196 million as against INR 701.449 million in the previous year. The total turnover of the hotel unit of the Company, Vivanta By Taj, Gurgaon-NCR, for the financial year was INR 694.666 million as compared to INR 674.745 million during the previous year.
During the financial Year 2016-2017 the Company has reported higher Gross Profit amounting to INR 179.967 million compared to INR 174.730 million in the previous year. However Net Loss (after deduction of exceptional items, depreciation, finance cost and deferred tax charge) amounting to INR 289.945 million compared to INR 308.295 million in the previous year has been reported.
The Industry Trends and outlook are summed up in the Management Discussion and Analysis which forms part of this report.
SCHEME OF ARRANGEMENT
The Board of Directors in their meeting held on 10th February, 2016 had approved a Composite Scheme of Arrangement (‘the Scheme’) between HB Estate Developers Limited (‘the Company’), HB Stockholding Limited and HB Portfolio Limited and their respective members and creditors under Sections 391 to 394 read with Sections 100 to 104 of the Companies Act, 1956 or any corresponding provisions of the Companies Act, 2013, subject to various approvals as may be required. The Appointed Date(s) in the Scheme are 01st April, 2015, 02nd April, 2015 and 03rd April, 2015 as particularly defined in the Scheme of Arrangement.
The Company received NIL Observation Letter / No Objection Certificate dated 23rd June, 2016 from the Bombay Stock Exchange (BSE Limited) in terms of Regulation 37 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In terms of the order dated 16th September, 2016 passed by the Hon’ble High Court of Punjab & Haryana at Chandigarh, the Court Convened Meeting (CCM) of the Equity Shareholders, Unsecured Creditors and Secured Creditors of the Company was held on 10th December, 2016.
The Equity Shareholders, Unsecured Creditors and Secured Creditors of the Company accorded their necessary approval to the Scheme with the requisite majority. The Company has also received requisite approval to the Scheme from its Public Equity Shareholders by way of Postal Ballot including e-voting, result of which was declared on 12th December, 2016 pursuant to SEBI Circular bearing No. CIR/CFD/CMD/16/2015 dated 30th November, 2015.
The Company Petition has been duly transferred from the Hon’ble High Court of Punjab and Haryana, Chandigarh to the National Company Law Tribunal, Chandigarh Bench at Chandigarh as per the provisions of Sec 230 to 233 of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and the Companies (Transfer of Pending Proceedings) Rules, 2016 notified by the Ministry of Corporate Affairs vide its Notification Dated 07th December, 2016 which came into force with effect from 15th December, 2016.
The matter came up for hearing on 11th May, 2017 before the National Company Law Tribunal (NCLT), Chandigarh Bench at Chandigarh. The Hon’ble Bench of NCLT admitted the Second Motion Application filed by the Company and passed an order for issuing Notice along with copy of Petition and Scheme to various authorities. The next date of hearing has been fixed for 20th July, 2017.
MANAGEMENT DISCUSSION
& ANALYSIS REPORT
Operating Results
The total income earned by the company during the year was INR 747.196 million (INR 701.449 million in the previous year). During the year, the total expenses amounted to INR 1014.363 million (INR 982.199 million in the previous year).
Industry Structure and Developments
Global GDB growth declined in 2016 at 3.1%. However, growth projections are more encouraging in 2017 and 2018. Led by improved trade and manufacturing, as well as the strength of emerging and developing nation’s economies, Global GDP is projected to increase by 3.5% in 2017 and 3.6% in 2018. The increase in Global GDP will be positive for the travel and tourism sectors.
In the Indian economy, at the close of 2015-16, the Economic survey of India estimated GDP Growth of 7.6% for the Country. The overall macroeconomic stability was the result of reduction in the fiscal deficit, the current account deficit and inflation.
The Economist Intelligence Unit forecasts a GDP growth of 7.2% in 2017, and an average of 7.5% annually over the next five years.
The year 2016-17 also witnessed a major policy initiative that will positively impact the economy - the Constitutional Amendment leading to the implementation of the Goods & Services Tax (GST) from 1st July 2017. The goal of the GST is to create a common Indian marketplace, improve tax compliance, governance and increase investments and growth.
The taxes applicable to the various stakeholders in travel and tourism have been announced. While it is commendable that GST rates applicable to travel, tours & transportation have been lowered, it is disappointing that a tax rate of up to 28% has been applied to hotels who charge in excess of Rs. 5000 per night. The application of the highest rate of 28% to a significant part of the Hospitality Industry will make the destination more expensive and will adversely affect its capability to generate revenue and employment. We hope that the tax rate of 28% will be reviewed and revised in the interest of the hospitality industry and the nation.
FUTURE PROSPECTS AND OUTLOOK
With the consistently growing middle class and increasing disposable income, the tourism and hospitality sector is witnessing a healthy growth and accounts for 7.5 percent of the Country’s GDP. It is expected to grow at 16.1 percent Compound Annual Growth Rate (CAGR) to reach INR 2,796.9 thousand crore in 2022. The sector generated significant amount of direct as well as indirect employment, and is also one of the key foreign exchange earners for the Country.
Tourism and hospitality is included as one of the 25 focus centers under the government’s ‘Make in India’ initiative, which aims to ‘transform India into a global design and manufacturing hub’. The Government has allowed 100 percent FDI under the automatic route in the tourism and hospitality sector, including tourism construction projects such as development of hotels, resorts and recreational facilities.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|||||||||||||||
|
LONG TERM
BORROWINGS |
|
|
|||||||||||||||
|
Overdraft from State Bank of India |
146.844 |
149.632 |
|||||||||||||||
|
Term Loan from Religare Finvest Limited |
144.000 |
144.0000 |
|||||||||||||||
|
Intercorporate Loans & Advances |
1008.925 |
1060.725 |
|||||||||||||||
|
Loan from Director |
95.500 |
100.000 |
|||||||||||||||
|
|
|
|
|||||||||||||||
|
SHORT TERM
BORROWINGS |
|
|
|||||||||||||||
|
From Related Party |
|
|
|||||||||||||||
|
Intercorporate Loans |
90.000 |
90.000 |
|||||||||||||||
|
|
|
|
|||||||||||||||
|
Total |
1485.269 |
1544.357 |
|||||||||||||||
|
NOTES: LONG TERM BORROWINGS Maturity Profile of
Unsecured Loans are as under: [INR in Million]
·
Overdraft
Facility from State Bank of India Secured by way of equitable mortgage of Residential Property bearing no. C-2/7, Safdarjung Development Area, New Delhi belonging to Sh. Lalit Bhasin – Director of the Company and also his personal guarantee. The Rate of Interest is 11.80% P.A. The total loan tenure is of 7 years 10 months. The loan is repayable in 27 quarterly unequal installments starting from 1st quarter of 2017-18 and last installment due in 3rd quarter of 2023-24. ·
Term
Loan from Religare Finvest Limited Secured by way of mortgage of Property at Plot No. BP-8, Feroze Gandhi Road Lajpat Nagar-III, New Delhi belonging to Sh. Lalit Bhasin - Director of the Company. The Rate of Interest is 13.45% P.A. The loan is repayable in 6 annual unequal installments starting from 1st March 2019 and last installment due on 1st March 2024. · Intercorporate Loans and Advances are interest free and are repayable beyond 3 years. · Interest free Loan from Director, Sh. Lalit Bhasin is repayable beyond 3 years. |
|||||||||||||||||
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
237.130 |
179.091 |
612.285 |
|
Other Operating Income |
5.652 |
5.220 |
14.117 |
|
Total
Income from Operations |
242.782 |
184.311 |
626.402 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
25.231 |
17.239 |
63.833 |
|
Employee benefits expense |
48.006 |
46.458 |
141.465 |
|
Finance Costs |
79.276 |
82.573 |
245.994 |
|
Depreciation and Amortization expenses |
35.810 |
36.302 |
108.389 |
|
Other Expenditure |
89.341 |
89.977 |
258.962 |
|
Total
Expenses |
277.664 |
272.549 |
818.643 |
|
Profit / (Loss) before Tax |
(34.882) |
(88.238) |
(192.241) |
|
Tax Expense |
(5.636) |
(23.738) |
(44.117) |
|
Profit
/ (Loss) after Tax |
(29.246) |
(64.500) |
(148.124) |
|
Other
comprehensive income |
|
|
|
|
- Items that will not be reclassified to profit or loss |
(0.045) |
(0.045) |
(0.135) |
|
- Tax relating to items that will not be reclassified to profit or loss |
0.014 |
0.014 |
0.042 |
|
Total
comprehensive income (Comprising Profit/(Loss) and other comprehensive income
for the period) |
(29.277) |
(64.531) |
(148.217) |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
164.120 |
164.120 |
164.120 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
(1.81) |
(4.00) |
(9.18) |
NOTES:
1. The figures have been regrouped/ rearranged wherever considered necessary to facilitate comparison.
2. There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.
3. The Composite Scheme of Arrangement ('the Scheme') amongst HB Stockholdings Limited, HB Portfolio Limited and HB Estate Developers Limited and their respective Shareholders and Creditors filed under Section 391 to 394 read with Section 100 to 104 of the Companies of, 1956 has been duly sanctioned / approved by the Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench at Chandigarh as per the provisions of Sections 230 to 232 of the Companies Act, 2013. The Scheme has become effective on 30th January, 2018. The effect of the Scheme from the Appointed Date(s) i.e. opening of business hours as on April 2, 2015 & April 3, 2015 as defined in Part A of the Scheme shall be given in the Financial Results / Accounts of the Company for the Quarter / Financial Year ended 31st March, 218.
4. The aforesaid results were placed before and reviewed by the Audit Committee at its meeting held on 1st February, 2018 and approved by the Board of Directors at its meeting held on the same date.
5. The Company has adopted Indian Accounting Standards (Ind AS) from April 1, 2017 with a transition date of April’, 2016 and these Financial Results have been prepared in accordance with the recognition and measurement principles prescribed under Section 133 of Companies Act,2013 read with relevant rules issued there under.
6. In terms of the circular no. CIR/ CFD/FAC/62/2016 dated July 05, 2016 issued by the Securities and Exchange Be and of India, the Ind AS compliant Unaudited Financial Results for the Quarter/ Nine months ended December 31, 2016 have not been subjected to Limited Review by the Statutory Auditors. However, the \ management has exercised necessary due diligence to ensure that the Financial Results for the said period provide a true and fair view of its affairs. Effect of the same if any would be carried out in the audited financials for the year ended 31st March, 2018.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G36148542 |
100074946 |
YES BANK LIMITED |
28/07/2016 |
25/01/2017 |
- |
1050000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH400018IN |
|
2 |
G00841486 |
100017523 |
STATE BANK OF INDIA |
16/03/2016 |
- |
- |
150000000.0 |
SME BRANCH59, COMMUNITY CENTRE, PHASE-1, NARAINA NEW DELHI DL110028IN |
|
3 |
G05678248 |
10605834 |
YES BANK LIMITED |
26/08/2015 |
10/05/2016 |
- |
100000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH400018IN |
|
4 |
C34193326 |
10532292 |
HDFC BANK LIMITED |
28/07/2014 |
- |
- |
67500.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL MUMBAI MH400013IN |
|
5 |
G05678867 |
10464322 |
YES BANK LIMITED |
22/11/2013 |
10/05/2016 |
- |
800000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH400018IN |
|
6 |
G05691266 |
10464324 |
YES BANK LIMITED |
22/11/2013 |
10/05/2016 |
- |
1400000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH400018IN |
|
7 |
B90046814 |
10212054 |
IDBI BANK LIMITED |
15/03/2010 |
18/05/2013 |
20/11/2013 |
810000000.0 |
IDBI TOWERWTC COMPLEX CUFFE PARADE MUMBAI MH400005IN |
|
8 |
B90049107 |
10211730 |
PUNJAB NATIONAL BANK |
15/03/2010 |
06/07/2010 |
20/11/2013 |
750000000.0 |
GROUND FLOOR 'E' WING, MAKER TOWERCUFFE PARADE MUMBAI MH400005IN |
|
9 |
B90186438 |
10183496 |
HDFC BANK LIMITED |
15/10/2009 |
09/07/2011 |
05/11/2013 |
58828570.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL (WEST) MUMBAI MH400013IN |
FIXED ASSETS:
Tangible Assets
· Freehold Land
· Building
· Plant and Equipments
· Furniture and Fixtures
· Office Equipments
· Computer
Intangible Assets
· Softwares
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 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 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared by
: |
NKT |
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 |
YES |
|
--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.