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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

500662

Report Date :

28.03.2018

 

 

IDENTIFICATION DETAILS

 

Name :

KALPATARU RETAIL VENTURES PRIVATE LIMITED

 

 

Registered Office :

101, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400055, Maharashtra

Tel No.:

91-22-30643065

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

27.11.2000

 

 

Com. Reg. No.:

11-129761

 

 

Capital Investment / Paid-up Capital :

INR 80.553 Million

 

 

CIN No.:

[Company Identification No.]

U45202MH2000PTC129761

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AABCK5216A1Z3

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCK5216A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into Real Estate Development. [Registered Activity]

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of “Kalpataru Limited” and it was incorporated in the year 2000. It is engaged into real estate developers.

 

As per Registrar of Companies, the date of filling its financials is shown as 31.03.2017 but documents related to the financials of 31.03.2017 are not available from any other sources.

 

As per the available financials of March 2016, the company has registered decline in its revenue as compared to its previous year and has reported decent profit margin.

 

Rating takes into consideration the company’s weak financial risk profile due to eroded net worth along with high debt balance sheet.

 

Rating is further constrained on account of company’s presence in huge working capital requirement and intense competition in real estate sector.

 

However, ratings weakness is partially offset by financial and managerial support received from its holding entity.

 

Payment seems to be slow and delayed.

 

In view of aforesaid, the company can be considered for business dealing at safe and secured 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

 

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 28.03.2018

 

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 BY

 

Name :

Mr. Ravi

Designation :

Pre-Sales Department

Contact No.:

91-22-30643065

Date :

28.03.2018

 

MANAGEMENT NON-COOPERATIVE (91-22-30645000)

 

91-9820673364 – CONTINUOUSLY RINGING

 

LOCATIONS

 

Registered Office :

101, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400055, Maharashtra, India

Tel. No.:

91-22-30643065/30645000

Fax No.:

91-22-30643131

E-Mail :

manoj.thakar@kalpataru.com

corpgov.kalpataru@gmail.com

info@kalpataru.com

Website :

www.kalpataru.com

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Anuj Amar Munot

Designation :

Director

Address :

Kalpataru Horizon, 214 /224 A, S. K. Ahire Marg, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

15.11.1977

Date of Appointment :

12.01.2005

DIN No.:

00136204

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U45300MH2008PTC178011

ARDOUR DEVELOPERS PRIVATE LIMITED

25/09/2015

-

U45203MH2007PTC176643

ARIMAS DEVELOPERS PRIVATE LIMITED

01/08/2011

-

U45200MH1981PTC025796

PADMANAGAR CONSTRUCTIONS PRIVATE LIMITED

30/09/2015

-

U45200MH2008PTC178012

ARDOUR PROPERTIES PRIVATE LIMITED

15/09/2008

-

U51109MH2010PTC198297

SANJALI TRADING COMPANY PRIVATE LIMITED

02/01/2010

-

U70100MH2007PTC172270

AURA REAL ESTATE PRIVATE LIMITED

28/09/2015

-

U45200MH2007PTC170905

KALPATARU CONSTRUCTIONS (POONA) PRIVATE LIMITED

28/09/2015

-

U45200MH2007PTC167870

AZURE TREE LANDS PRIVATE LIMITED

08/08/2008

-

U45201MH2003PTC143708

SHOURI CONSTRUCTIONS PRIVATE LIMITED

30/09/2011

-

U45200MH1981PTC025516

KALPATARU CONSTRUCTIONS PRIVATE LIMITED

28/09/2015

-

U45201MH2003PTC143709

MRIGASHISH CONSTRUCTIONS PRIVATE LIMITED

24/09/2015

-

U70102MH2007PTC173337

ABACUS REAL ESTATE PRIVATE LIMITED

30/09/2015

-

U65990MH1981PTC025251

KALPATARU HOLDINGS PVT LTD

29/09/2015

-

U45201MH2002PTC134396

ANANTA LANDMARKS PRIVATE LIMITED

30/09/2016

-

U58628MH1990PTC058628

KALPATARU PROPERTIES (THANE) PRIVATE LIMITED

29/09/2017

-

U99999MH1964PTC012833

KALPATARU GARDENS PRIVATE LIMITED

30/09/2015

-

U67120MH1997PTC108014

MPM HOLDING PRIVATE LIMITED

24/09/2015

-

U45201MH1993PTC074194

PUNARVASU CONSTRUCTIONS PRIVATE LIMITED

24/09/2015

-

 

 

Name :

Mr. Imtiaz Husain Kanga

Designation :

Director

Address :

1, Kalpataru, 39, Dr. G. Deshmukh Marg, Mumbai- 400026, Maharashtra, India

Date of Birth/Age :

30.08.1952

Date of Appointment :

15.12.2000

DIN No.:

00136272

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U65990MH1981PTC024688

K C HOLDINGS PRIVATE LIMITED

04/02/2005

-

U45201MH2002PTC135718

K V PROPERTY VENTURES PRIVATE LIMITED

01/05/2002

-

U45200MH2007PTC170905

KALPATARU CONSTRUCTIONS (POONA) PRIVATE LIMITED

17/05/2007

-

U70100MH1979PTC021291

EVERSMILE PROPERTIES PRIVATE LIMITED

07/12/2006

-

U45200MH1981PTC025796

PADMANAGAR CONSTRUCTIONS PRIVATE LIMITED

04/02/2005

-

U45200MH1981PTC025516

KALPATARU CONSTRUCTIONS PRIVATE LIMITED

15/07/2003

-

U45200MH2008PTC178012

ARDOUR PROPERTIES PRIVATE LIMITED

29/09/2015

-

U45201MH2002PTC134393

SHOURI PROPERTIES PRIVATE LIMITED

01/01/2002

-

U74210MH1975PTC018371

KALPATARU PROPERTIES PRIVATE LIMITED

03/07/1995

-

U65990MH1981PTC025251

KALPATARU HOLDINGS PVT LTD

04/02/2005

-

U45200MH1983PTC029302

SUSME BUILDERS PVT LTD

28/04/2006

-

U45200MH1988PTC047902

KALPATARU PLAZA PRIVATE LIMITED

07/12/2006

-

U45204GJ2001PLC039169

ENERGYLINK (INDIA) LIMITED

16/01/2001

-

U45200MH1988PLC050144

KALPATARU LIMITED

30/09/2002

-

L40100GJ1981PLC004281

KALPATARU POWER TRANSMISSION LIMITED

12/08/2016

-

U45202MH1990PTC055570

ARDOUR BUILDERS PRIVATE LIMITED

12/08/2004

-

U67120MH1992PTC066543

BHRAMAR INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED

10/06/2004

-

U58628MH1990PTC058628

KALPATARU PROPERTIES (THANE) PRIVATE LIMITED

26/02/2001

-

 

 

Name :

Mr. Lokesh Bansilal Jain

Designation :

Director

Address :

2C/114, Kalpataru Estate, JVLR Andheri (East), Mumbai -400093, Maharashtra, India

Date of Appointment :

20.07.2017

DIN No.:

06453254

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70102MH2012PTC230124

MUNOT REAL ESTATE PRIVATE LIMITED

23/09/2015

-

U51909MH2003PTC141813

SFURTI MULTITRADE PRIVATE LIMITED

26/09/2015

-

U45200MH2010PTC198358

PROPNOVA PROPERTIES PRIVATE LIMITED

30/09/2015

-

U51909MH2003PTC141918

SFURTI IMPEX PRIVATE LIMITED

29/09/2015

-

U45200MH2007PTC173305

AMBROSIA REAL ESTATE PRIVATE LIMITED

25/09/2015

-

U45200MH2007PTC173551

ARIMAS REAL ESTATE PRIVATE LIMITED

29/09/2015

-

U45201MH2008PTC182570

ARMAN VILLAS PRIVATE LIMITED

23/09/2015

-

U45201MH2008PTC182569

ANANTA VILLAS PRIVATE LIMITED

23/09/2015

-

U70200MH2007PTC167180

AXIOM PROPERTIES PRIVATE LIMITED

26/09/2015

-

U45200MH2007PTC167870

AZURE TREE LANDS PRIVATE LIMITED

29/09/2017

-

U45102MH2000PTC129762

LIFESTYLE PROPERTY VENTURES PRIVATE LIMITED

29/09/2015

-

U36991MH1996PTC097740

DURABLE STATIONERY PRIVATE LIMITED

27/09/2016

-

U72900MH1995PTC091301

DATABANK STATIONERY PRIVATE LIMITED

26/09/2015

-

U14100MH1986PTC038820

RAJASTHAN STONES PVT LTD

25/09/2015

-

U17100MH1985PTC037041

AMRITA POLYTEX PVT LTD

28/09/2015

-

U45200MH1982PTC026027

KALPATARU LAND (SURAT) PRIVATE LIMITED

29/09/2016

-

U45200MH1972PTC016155

KALPATARU ESTATES PRIVATE LIMITED

28/09/2015

-

U99999MH1953PLC009100

DYNACRAFT MACHINE COMPANY LIMITED

30/09/2013

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Ravi

Designation :

Pre-Sales Department

 

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Kalpataru Limited, India

 

4982900

Narendra S. Lodha (Nominee of Kalpataru Limited, India)

 

30

Shantilal P Bohra (Nominee of Kalpataru Limited, India)

 

30

Monica P. Munot (Nominee of Kalpataru Limited, India)

 

10

Sudha Golechha (Nominee of Kalpataru Limited, India)

 

10

Sunita V. Choraria (Nominee of Kalpataru Limited, India)

 

10

Rajesh B. Golechha (Nominee of Kalpataru Limited, India)

 

10

 

 

 

Total

 

4983000

 

 

Names of Shareholders (Preference Shares)

 

No. of Shares

K C Holdings Private Limited

 

1071000

Kalpataru Properties Private Limited

 

17442

Kalpataru Constructions Private Limited

 

532950

Yugdharm Investments Trading Company Private Limited

 

532950

Mofatraj Pukhraj Munot

 

823650

Parag Mofatraj Munot / Sharadchandrika Munot

 

91800

Parag M Munot as a Trustee of Family Trust

 

2550

 

 

 

Total

 

3072342

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Body corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Real Estate Development. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

ITC Code

Construction

99530000

Real Estate Services

99721129

Construction Services

99541229

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :
  • Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune -411001, Maharashtra, India

 

Banker Name :

ICICI Bank Limited

Branch :

ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara – 390007, Gujarat, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

SECURED LOANS

31.03.2016

INR In Million

31.03.2015

INR In Million

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

2102.412

1315.512

Rupee term loans from others

3225.345

3687.392

Other loans and advances

0.545

0.406

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

100.000

23.403

 

 

 

Total

5428.302

5026.713

 

 

Auditors :

 

Name :

MGB and Company LLP

Chartered Accountants

Address :

Peninsula Business Park, Tower-B, 19th Floor, Ganpat Kadam Marg, Lower Parel, Mumbai, Maharashtra, India

PAN No.:

AAYFM6965C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company (AS ON 31.03.2016):

·         Kalpataru Limited

 

 

Fellow Subsidiary companies (AS ON 31.03.2016):

·         Abacus Enviro Farms Private Limited

·         Abacus Orchards Private Limited

·         Abacus Real Estate Private Limited

·         Abhiruchi Orchards Private Limited

·         Amber Enviro Farms Private Limited

·         Amber Orchards Private Limited

·         Ambrosia Enviro Farms Private Limited

·         Ambrosia Real Estate Private Limited

·         Anant Orchards Private Limited

·         Appropriate Enviro Farms Private Limited

·         Ardour Developers Private Limited

·         Ardour Properties Private Limited

·         Arena Orchards Private Limited

·         Arimas Developers Private Limited

·         Arimas Real Estate Private Limited

·         Ashoka Orchards Private Limited

·         Ashoka Properties Private Limited

·         Aspen Enviro Farms Private Limited

·         Astrum Developers Private Limited

·         Astrum Orchards Private Limited

·         Aura Enviro Farms Private Limited

·         Aura Orchards Private Limited

·         Aura Real Estate Private Limited

·         Axiom Orchards Private Limited

·         Azure Tree Enviro Farms Private Limited

·         Azure Tree Lands Private Limited

·         Azure Tree Orchards Private Limited

·         Girirajkripa Developers Private Limited

·         Kalpataru Constructions (Poona) Private Limited

·         Kalpataru Gardens Private Limited

·         Kalpataru Land (Surat) Private Limited

·         Kalpataru Properties (Thane) Private Limited

·         Kanani Real Estate Private Limited

·         Kiah Constructions Private Limited

·         Kiah Properties Private Limited

·         Kiyana Properties Private Limited

·         Propnova Properties Private Limited

·         Swarn Bhumi Township Private Limited

 

 

Others (AS ON 31.03.2016):

·         Aseem Ventures LLP

·         Kalpak Property Ventures LLP

·         Kalpataru + Sharyans

·         Kalpataru Constructions (Pune)

·         Kalpataru Enterprises

·         Kalpataru Land Private Limited

·         Kalpataru Properties Private Limited

·         Kalpa-Taru Property Ventures LLP

·         Kalpataru Shubham Enterprises

·         Kamdhenu Constructions

·         Kanani Developers LLP

·         Kiyana Ventures LLP

·         Property Solutions (India) Private Limited

·         Shouri Properties Private Limited

·         Shravasti Ventures LLP

·         Yugdharm Real Estate Private Limited

·         Prime Properties Private Limited

·         Neo Pharma Private Limited

·         Locksley Hall Hill Resorts Private Limited

·         Kalpataru Power Transmission Limited

·         Argos International Marketing Private Limited

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives (AS ON 31.03.2016):

·         Azure Tree Developers LLP

 

 

CAPITAL STRUCTURE

 

AFTER AS ON 29.09.2017

 

Authorised Capital : INR 797.800 Million

 

Issued, Subscribed & Paid-up Capital : INR 49.830 Million

 

 

AS ON 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

16040000

Equity Shares

INR 10/- each

INR 160.400 Million

50000

10% Optionally Convertible Preference Shares

INR 10/- each

INR  0.500 Million

1650000

Optionally Convertible Preference Shares

INR 10/- each

INR 16.500 Million

22250000

10% Non-Convertible Redeemable Preference Shares

INR 10/- each

INR 222.500 Million

 

 

 

 

 

Total

 

INR 399.900 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4983000

Equity Shares

INR 10/- each

INR 49.830 Million

3072342

Preference Shares

INR 10/- each

INR 30.723 Million

 

 

 

 

 

Total

 

INR 80.553 Million

 

AS ON 31.03.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15940000

Equity Shares

INR 10/- each

INR 159.400 Million

50000

10% Optionally Convertible Preference Shares

INR 10/- each

INR  0.500 Million

1650000

Optionally Convertible Preference Shares

INR 10/- each

INR 16.500 Million

22250000

10% Non-Convertible Redeemable Preference Shares

INR 10/- each

INR 222.500 Million

 

 

 

 

 

Total

 

INR 398.900 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4983000

Equity Shares

INR 10/- each

INR 49.830 Million

3072342

Preference Shares

INR 10/- each

INR 30.723 Million

 

 

 

 

 

Total

 

INR 80.553 Million

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2016

31.03.2015

31.03.2014

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

80.553

49.830

49.830

(b) Reserves & Surplus

(385.581)

(462.449)

(561.023)

(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)

(305.028)

(412.619)

(511.193)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

5328.302

5253.310

2408.412

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

729.117

95.279

87.440

(d) Long-term provisions

0.555

0.557

0.412

Total Non-current Liabilities (3)

6057.974

5349.146

2496.264

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

536.450

1120.059

840.519

(b) Trade payables

38.569

65.179

93.072

(c) Other current liabilities

612.561

1488.590

1220.194

(d) Short-term provisions

2.224

18.548

104.411

Total Current Liabilities (4)

1189.804

2692.376

2258.196

 

 

 

 

TOTAL

6942.750

7628.903

4243.267

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2557.526

2737.540

2517.723

(ii) Intangible Assets

0.000

0.000

0.019

(iii) Capital work-in-progress

0.251

1.754

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.900

(c) Deferred tax assets (net)

480.688

507.616

85.452

(d) Long-term Loan and Advances

202.584

134.787

146.174

(e) Other Non-current assets

0.000

0.000

15.885

Total Non-Current Assets

3241.049

3381.697

2766.153

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

238.908

392.158

688.354

(c) Trade receivables

178.393

222.552

604.153

(d) Cash and cash equivalents

34.084

30.172

26.889

(e) Short-term loans and advances

3249.437

3600.571

154.030

(f) Other current assets

0.879

1.753

3.688

Total Current Assets

3701.701

4247.206

1477.114

 

 

 

 

TOTAL

6942.750

7628.903

4243.267

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

 

Income

1293.133

1346.141

1750.368

 

 

Other Income

512.901

45.352

58.520

 

 

TOTAL                                               

1806.034

1391.493

1808.888

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

464.633

663.174

1037.210

 

 

Employee Benefits Expenses

27.391

25.803

22.883

 

 

Other Expenses

125.958

153.556

117.252

 

 

TOTAL                                    

617.982

842.533

1177.345

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1188.052

548.960

631.543

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

850.632

580.877

575.048

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

337.420

(31.917)

56.495

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

186.732

219.866

172.595

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

150.688

(251.783)

(116.100)

 

 

 

 

 

Less

TAX                                                                 

26.928

(422.136)

(3.656)

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

123.760

170.353

(112.444)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

24.90

34.41

(22.72)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

461.123

803.874

946.840

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

944.202

988.009

612.622

Net cash flows from (used in) operating activities

876.054

971.016

594.392

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

50.35

60.34

125.98

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

7.25

6.05

2.90

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

30.30

35.87

32.75

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

4.97

1.40

0.92

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.46

0.20

0.25

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

1.01

1.15

1.32

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

(20.74)

(17.39)

(8.21)

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

(3.90)

(6.530

(4.42)

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

(8.39)

(6.64)

(4.93)

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.40

0.95

1.10

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

9.57

12.65

-6.42

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.78

2.23

-2.65

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(40.57)

(41.29)

22.00

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

3.11

1.58

0.65

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.91

1.43

0.35

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

(0.04)

(0.05)

(0.12)

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

78.53

144.03

84.20

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.11

1.58

0.65

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Share Capital

49.830

49.830

80.553

Reserves & Surplus

(561.023)

(462.449)

(385.581)

Share Application money pending allotment

0.000

0.000

0.000

Net worth

(511.193)

(412.619)

(305.028)

 

 

 

 

Long Term borrowings

2408.412

5253.310

5328.302

Short Term borrowings

840.519

1120.059

536.450

Current maturities of long term debt

946.840

803.874

461.123

Total borrowings

4195.771

7177.243

6325.875

Debt/Equity ratio

(8.208)

(17.394)

(20.739)

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

1750.368

1346.141

1293.133

 

 

(23.094)

(3.938)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

1750.368

1346.141

1293.133

Profit/(Loss)

(112.444)

170.353

123.760

 

(6.42%)

12.65%

9.57%

 

 

 

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

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATIONS: (AS ON 31.03.2016)

 

The total income of the Company during the year was INR 1806.000 million in 2015-16 as compared to INR 1391.400 million in 2014-15. The Company has earned a Profit before tax of INR 150.600 million in 2015-16 as compared to Loss of INR 251.800 million in 2014-15.

 

The Company is in business of developing residential properties and owning and leasing of commercial properties and its maintenance. The Company is owning and maintaining a retail mall at Thane, which houses all the leading brands across various product categories and it attracts large customer footfall. Further, among other properties, the Company is also owning and maintaining a commercial building at Santacruz East, Mumbai, which has been leased/licensed to various large corporates.

 

UNSECURED LOANS:

 

PARTICULARS

31.03.2016

INR In Million

31.03.2015

INR In Million

LONG TERM BORROWINGS

 

 

Rupee term loans from others

0.000

250.000

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

91.387

79.646

Intercorporate deposits

345.063

1017.010

 

 

 

Total

436.450

1346.656

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G80038938

100161958

JM FINANCIAL CREDIT SOLUTIONS LIMITED

22/02/2018

-

-

1100000000.0

7TH FLOOR, CNERGY, APPASAHEB MARATHE MARG,PRABHADEVIMUMBAIMA400025IN

2

C76987965

10615773

INDUSIND BANK LTD.

13/01/2016

-

-

1000000000.0

2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN

3

C69019107

10600324

ICICI BANK LIMITED

19/10/2015

-

-

547000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

4

G44988061

10596689

ICICI BANK LIMITED

28/09/2015

17/05/2017

-

2700000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN

5

C49346430

10559724

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

24/03/2015

-

-

3400000000.0

RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN

6

Z00422226

80044805

HDFC LIMITED

20/06/2000

-

-

150000000.0

RAMON HOUSE 169,BACKBAY RECLAMATION, CHURCHGATE,MUMBAIMH400020IN

7

G79329660

100098659

A. K. CAPITAL FINANCE PRIVATE LIMITED

26/04/2017

-

06/03/2018

600000000.0

30-39, FREE PRESS HOUSE, 3RD FLOOR,FREE PRESS JOURNAL MARG, 215, NARIMAN POINT,MUMBAIMA400021IN

8

G22212633

10118894

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

13/08/2008

19/08/2016

19/10/2016

550000000.0

RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN

9

G22212930

90238126

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

21/10/2004

19/08/2016

19/10/2016

550000000.0

RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN

10

C68913573

10481451

ICICI HOME FINANCE COMPANY LIMITED

26/02/2014

-

15/10/2015

2000000000.0

ICICI BANK TOWERS,BANDRA KURLA COMPLEX,MUMBAIMH400051IN

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer

·         Vehicles

 

 

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 64.80

UK Pound

1

INR 92.26

Euro

1

INR 80.76

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KVT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.