|
|
|
MIRA INFORM REPORT
|
Report No. : |
506905 |
|
Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ABAD BUILDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.86, 8th Floor, ABAD Nucleus Mall, Kochi-Madurai National Highway-49 Road, Maradu, Maradu P.O., Ernakulam, Kochi – 682304, Kerala |
|
Tel. No.: |
91-484-4105000 |
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|
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
21.04.2003 |
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|
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Com. Reg. No.: |
09-016095 |
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|
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Capital
Investment / Paid-up Capital : |
INR 18.375 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U45201KL2003PTC016095 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
32AAECA2661C1ZC |
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TIN No.: |
32072098072 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECA2661C |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the main business of Builders and Developers. [Registered Activity] |
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|
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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 1090000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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 2003 and it is having good track. For the financial year 2017, the company has achieved decent revenue from operations and maintained decent profit margin of 1.95%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet. Further, rating also derives strength from its long standing track records of business operations and improvement in the profitability profile during the year. However, rating strength is partially offset by volatile and slowdown in the real estate industry. Trade relations are fair. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating=BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
05.04.2018 |
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 07.05.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED BY
|
Name : |
Ms. Elva |
|
Designation : |
Sale Department |
|
Contact No.: |
91-9895755555 |
|
Date : |
30.04.2018 |
[Given number 081118 85619 is continuously ringing]
[91-848-4105000 is continuously ringing]
LOCATIONS
|
Registered Office : |
No.86, 8th Floor, ABAD Nucleus Mall, Kochi-Madurai National Highway-49 Road, Maradu, Maradu P.O., Ernakulam, Kochi – 682304, Kerala, India |
|
Tel. No.: |
91-484-4105000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Riaz Ahmed |
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Designation : |
Director |
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Address : |
07-C, Baypride Tower, Marine Drive, Ernakulam – 682031, Kerala, India |
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Date of Birth/Age : |
15.04.1953 |
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Date of Appointment : |
21.04.2003 |
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DIN No.: |
01011695 |
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Name : |
Mr. Arif Hashim |
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Designation : |
Director |
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|
Address : |
08 - C, Baypride Tower, Marine Drive, Ernakulam – 682031, Kerala, India |
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Date of Birth/Age : |
25.11.1947 |
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Date of Appointment : |
21.04.2003 |
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DIN No.: |
01011736 |
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Name : |
Mr. Najeeb Zackeria |
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Designation : |
Managing Director |
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Address : |
37-1571, A-46 12-B, Silver Crest, Jawahar Nagar, Kadavanthra, Kochi-682020, Kerala, India |
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Date of Birth/Age : |
20.09.1970 |
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Date of Appointment : |
21.04.2003 |
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DIN No.: |
01011787 |
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KEY EXECUTIVES
|
Name : |
Ms. Elva |
|
Designation : |
Sale Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ahmed Usman |
|
12250 |
|
Zackeria Usman |
|
12250 |
|
Javeed Hashim |
|
14106 |
|
Anwar Hashim |
|
14106 |
|
Arif Hashim |
|
14106 |
|
Riaz Ahmed |
|
12250 |
|
Najeeb Zackeria |
|
12250 |
|
Asif Ahmed |
|
12250 |
|
Nasser Zackeria |
|
12250 |
|
Nazim Zackeria |
|
12250 |
|
Sheraz Anwar |
|
12250 |
|
Faraz Javeed |
|
12250 |
|
Imran Asif |
|
12250 |
|
Faiz Riaz |
|
12250 |
|
Haleema Hashim |
|
2202 |
|
Yasmin Ismail |
|
927 |
|
Jabeen Riaz |
|
927 |
|
Suman Zia |
|
927 |
|
Kiran Shakeel |
|
927 |
|
ARM Kassim |
|
232 |
|
Sajid Kassim |
|
360 |
|
Nazianaveed |
|
180 |
|
|
|
|
|
Total |
|
183750 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
28.69 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
71.31 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the main business of Builders and Developers. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
· Jammu and Kashmir Bank Limited 40/8815, 1st Floor, M G Road, Ernakulam - 682035, Kerala, India · Axis Bank Limited 41/419, Groud Floor, Chicago Plaza, Rajaji Road, Ernakulam, COCHIN - 682025, Kerala, India · State Bank of India · Dhanlaxmi bank Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Kaimal and Company Chartered Accountants |
|
Address : |
T.D. East Road, Ernakulam, Kochi – 682002, Kerala, India |
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PAN No.: |
AAUFS4431H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company : |
Atrium Realtors Private Limited (U70102KL2007PTC020719) |
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|
|
|
Associates/ Joint venture |
Smart Township Private Limited [U45202KL2005PTC018736] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
183750 |
Equity Shares |
INR 100/- each |
INR 18.375 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 |
18.375 |
18.375 |
18.375 |
|
(b) Reserves & Surplus |
363.556 |
351.226 |
341.576 |
|
(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) |
381.931 |
369.601 |
359.951 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
270.497 |
248.502 |
299.293 |
|
(b) Deferred tax liabilities (Net) |
11.771 |
12.743 |
5.781 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
2.193 |
2.884 |
3.121 |
|
Total
Non-current Liabilities (3) |
284.461 |
264.129 |
308.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
266.109 |
239.143 |
189.325 |
|
(b)
Trade payables |
112.558 |
99.994 |
60.869 |
|
(c)
Other current liabilities |
188.541 |
240.418 |
173.086 |
|
(d)
Short-term provisions |
1.444 |
1.334 |
0.050 |
|
Total
Current Liabilities (4) |
568.652 |
580.889 |
423.330 |
|
|
|
|
|
|
TOTAL |
1235.044 |
1214.619 |
1091.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
356.666 |
466.104 |
455.963 |
|
(ii)
Intangible Assets |
30.764 |
30.764 |
30.764 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.005 |
|
(e)
Other Non-current assets |
0.000 |
2.942 |
6.585 |
|
Total
Non-Current Assets |
387.430 |
499.810 |
493.317 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
256.703 |
180.253 |
129.152 |
|
(c)
Trade receivables |
235.782 |
229.346 |
88.575 |
|
(d)
Cash and cash equivalents |
6.530 |
5.874 |
6.701 |
|
(e)
Short-term loans and advances |
348.310 |
299.295 |
373.693 |
|
(f)
Other current assets |
0.289 |
0.041 |
0.038 |
|
Total
Current Assets |
847.614 |
714.809 |
598.159 |
|
|
|
|
|
|
TOTAL |
1235.044 |
1214.619 |
1091.476 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
631.724 |
637.952 |
411.142 |
|
|
|
Other Income |
4.804 |
11.587 |
8.134 |
|
|
|
TOTAL |
636.528 |
649.539 |
419.276 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
580.318 |
540.977 |
317.014 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(76.450) |
(51.101) |
(21.968) |
|
|
|
Employees benefits expense |
20.419 |
18.725 |
15.757 |
|
|
|
Other expenses |
40.947 |
43.750 |
38.682 |
|
|
|
TOTAL |
565.234 |
552.351 |
349.485 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
71.294 |
97.188 |
69.791 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
38.176 |
48.794 |
38.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.118 |
48.394 |
31.305 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.459 |
23.022 |
21.798 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
15.659 |
25.372 |
9.507 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.328 |
15.722 |
6.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.331 |
9.650 |
2.845 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
67.11 |
52.51 |
15.48 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
From Banks |
|
|
|
|
Jammu and Kashmir Bank Limited |
0.000 |
60.613 |
26.030 |
|
State Bank of India - Dropline overdraft loan |
15.700 |
15.700 |
0.000 |
|
ICICI Bank Limited [Term loan a/c 1853503] |
0.000 |
0.000 |
5.646 |
|
ICICI Bank Limited [Term loan a/c 1853502] |
0.000 |
0.000 |
16.939 |
|
From Others |
|
|
|
|
Daimler Financial Services India Private Limited |
0.984 |
1.121 |
1.121 |
|
Total |
16.684 |
77.434 |
49.736 |
|
|
|
|
|
|
Cash generated from operations |
(94.068) |
77.384 |
(71.360) |
|
|
|
|
|
|
Net Cash flow from (used in) Operating Activities |
(102.108) |
82.104 |
(74.528) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
136.23 |
131.22 |
78.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.68 |
2.78 |
4.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
70.80 |
67.47 |
70.08 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.28 |
0.54 |
0.54 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.18 |
0.20 |
0.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.75 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.45 |
1.53 |
1.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.49 |
1.57 |
1.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.01 |
1.34 |
1.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.87 |
1.99 |
1.81 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.95 |
1.51 |
0.69 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.00 |
0.79 |
0.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.23 |
2.61 |
0.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.49 |
1.23 |
1.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.04 |
0.92 |
1.11 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.30 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
30.11 |
30.75 |
29.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.49 |
1.23 |
1.41 |
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 |
18.375 |
18.375 |
18.375 |
|
Reserves & Surplus |
341.576 |
351.226 |
363.556 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
359.951 |
369.601 |
381.931 |
|
|
|
|
|
|
long-term borrowings |
299.293 |
248.502 |
270.497 |
|
Short term borrowings |
189.325 |
239.143 |
266.109 |
|
Current Maturities of Long
term debt |
49.736 |
77.434 |
16.684 |
|
Total
borrowings |
538.354 |
565.079 |
553.290 |
|
Debt/Equity
ratio |
1.496 |
1.529 |
1.449 |
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 |
411.142 |
637.952 |
631.724 |
|
|
|
55.166 |
(0.976) |
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 |
411.142 |
637.952 |
631.724 |
|
Profit |
2.845 |
9.650 |
12.331 |
|
|
0.69% |
1.51% |
1.95% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
G74533563 |
100149225 |
CATHOLIC SYRIAN BANK LIMITED |
18/11/2017 |
- |
- |
204200000.0 |
D J M BUILDINGMARKET ROAD,COCHINKL682011IN |
|
2 |
G46184610 |
100103573 |
JAMMU & KASHMIR BANK LIMITED |
31/05/2017 |
- |
- |
37200000.0 |
40/8815, 1ST FLOORM.G. ROAD, ERNAKULAMCOCHINKL682035IN |
|
3 |
G53674297 |
100089935 |
JAMMU & KASHMIR BANK LIMITED |
27/03/2017 |
24/08/2017 |
- |
50000000.0 |
40/8815, 1ST FLOORM.G. ROAD, ERNAKULAMCOCHINKL682035IN |
|
4 |
G78169216 |
100062994 |
KARNATAKA BANK LIMITED |
18/10/2016 |
- |
15/02/2018 |
22500000.0 |
XXX/512, CHELLUR BUILDING, 1ST FLOORM GROAD, PALLIMUKKUCOCHINKL682016IN |
|
5 |
G66623661 |
10602796 |
State Bank of India |
27/10/2015 |
07/02/2017 |
15/11/2017 |
338300000.0 |
Overseas BranchIndira Gandhi Road, Willingdon IslandKochiKL682003IN |
|
6 |
G12880548 |
10500892 |
JAMMU AND KASHMIR BANK LIMITED |
08/05/2014 |
- |
28/09/2016 |
80000000.0 |
40/8815, 1ST FLOORM. G. ROADCOCHINKL682035IN |
|
7 |
C82108119 |
10531794 |
DHANLAXMI BANK LIMITED |
31/10/2014 |
18/04/2015 |
14/03/2016 |
50000000.0 |
1ST FLOOR, ALEX BUILDING, SHANMUGHAM ROADOPP. MARINE DRIVECOCHINKL682031IN |
|
8 |
C75945782 |
10279252 |
ICICI BANK LIMITED |
28/02/2011 |
- |
06/01/2016 |
90000000.0 |
III FLOOR, EMGEE SQUAREM G ROADERNAKULAMKL682035IN |
|
9 |
C75947119 |
10279254 |
ICICI BANK LIMITED |
28/02/2011 |
- |
06/01/2016 |
30000000.0 |
III FLOOR, EMGEE SQUAREM G ROADERNAKULAMKL682035IN |
|
10 |
C73511768 |
10304614 |
AXIS BANK LIMITED |
03/09/2011 |
16/07/2012 |
22/12/2015 |
18500000.0 |
41/419, GROUND FLOOR, CHICAGO PLAZARAJAJI ROADERNAKULAMKL682025IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and
advances from related parties |
|
|
|
From directors/share holders |
70.696 |
39.817 |
|
From companies in which directors are interested |
158.546 |
151.782 |
|
|
|
|
|
Total |
229.242 |
191.599 |
COMPANY PERFORMANCE:
The overall performance of the company during the year was reasonably not good as compared to the previous year. The total income recorded during the year was INR 636.529 million as compared to INR 649.539 million in the previous year. After providing for Income Tax expenses and deffered tax provisions, the net surplus available is INR 12.331 million as compared to INR 9.650 million in the previous year. As in the previous years, the directors propose to utilize the available resources in the businesses of the company and therefore no dividend is recommended. The surplus will be carried over to the balance sheet.
CORPORATE INFORMATION
Subject belongs to the Abad Group of Companies having diversified interest in Marine Products Exports, Real Estate and Hospitality. The Abad Group is in business since 1931. The Abad Group is in the real estate business for the last 25 year. The Company was incorporated in 2003 and is engaged in the main business of builders and developers.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees issued by bank [On security of fixed deposits/counter guaranteed by directors] |
3.914 |
3.914 |
|
In respect of income tax demand disputes |
30.686 |
17.045 |
|
Demand of additional FAR fee by Grama Panchyath for building permit
disputed |
1.621 |
1.621 |
FIXED ASSETS:
Tangible Assets
· Land
· Building Flat and Shop
· Computer
· Plant and Machinery
· Motor vehicle
·
Furniture and Fittings
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 66.77 |
|
UK Pound |
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
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.