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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507826

Report Date :

07.05.2018

 

 

IDENTIFICATION DETAILS

 

Name :

MAYFAIR HOUSING PRIVATE LIMITED

 

 

Registered Office :

1, Mayfair Meridian, Near St. Blaise Church, Caesar Road, Andheri (West), Mumbai – 400058, Maharashtra

Tel. No.:

91-22-67232300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

10.12.1986

 

 

Com. Reg. No.:

11-041829

 

 

Capital Investment / Paid-up Capital :

INR 100.000 Million

 

 

CIN No.:

[Company Identification No.]

U70100MH1986PTC041829

 

 

IEC No.:

[Import-Export Code No.]

0305014102

 

 

TIN No.:

27720903204

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACM5158N1Z2

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACM5158N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Real Estate Developers. [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 :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 2400000

 

 

Status :

Good

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1986 and it having satisfactory track.

 

The company is engaged in real estate development.

 

For the financial year 2017, the company has increased its revenue from operations as compared to previous year but maintained minimal profit margin of 0.54%.

 

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 established market position in the Mumbai real estate market with strong brand, proven track record and experienced management and improvement in the revenue as well as 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 seems to be usually 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

CRISIL

Rating

Long term rating: BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

31.08.2017

 

 

Rating Agency Name

CRISIL

Rating

Short term rating: A3+

Rating Explanation

Moderate degree of safety and higher credit risk. 

Date

31.08.2017

 

 

 

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 DENIED

 

MANAGEMENT NON-COOPERATIVE (91-22-67232300)

 

 

LOCATIONS

 

Registered Office :

1, Mayfair Meridian, Near St. Blaise Church, Caesar Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Tel. No.:

91-22-67232300

Fax No.:

91-22-67232358

E-Mail :

info@mayfairhousing.com

cs@mayfairhousing.com

Website :

www.mayfairhousing.com

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Nayan Arvind Shah

Designation :

Managing Director

Address :

1, Mayfair Meridian, Near St. Blaise Church Ceaser Road, Andheri (West) Mumbai- 400058, Maharashtra, India

Date of Birth/Age :

26.09.1960

Qualification:

MBA In Finance

Date of Appointment :

01.04.2008

DIN No.:

00244494

PAN No.:

AAGPS4217B

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21020MH1965PTC013154

BOX PACK PAPER INDUSTRIES PRIVATE LIMITED

02/01/1995

-

U45200MH2004PTC144967

NEW ERA DWELLERS AND CONSTRUCTIONS PRIVATE LIMITED

25/09/2010

-

U45201MH2003PTC141663

MUMBAI SEZ DEVELOPMENT COMPANY PRIVATE LIMITED

07/08/2003

-

U45201MH2008PTC177235

MAYFAIR URBAN DEVELOPERS PRIVATE LIMITED

19/09/2016

-

U45200MH1984PTC033283

MAYFAIR BUILDERS PRIVATE LIMITED

27/06/1984

-

U70200MH2008PTC180966

MAYFAIR MERIDIAN DEVELOPERS PRIVATE LIMITED

09/04/2008

-

U70100MH1999PTC121072

METRO INFRASTRUCTURE AND PROJECT SOLUTIONS INDIA PRIVATE LIMITED

30/07/1999

-

U45200MH1984PTC033285

MACRO REAL ESTATES PVT LTD

02/01/1999

-

U45200MH1984PTC033286

MAGNIFICIENT LAND ENTERPRISES PVT LTD

27/06/1984

-

U70100MH1996PTC103761

MYLUCK HOUSING PRIVATE LIMITED

05/11/1996

-

U45200MH1984PTC033290

MERCURY CONSTRUCTION PVT LTD

27/06/1984

-

U45200MH1984PTC033293

MAK ESTATES AND PROPERTIES PVT LTD

27/06/1984

-

U70100MH1986PTC041828

RENOWNED MAYUR ESTATE AND PROPERTIES PVT. LTD.

10/12/1986

-

U70102MH1997PTC107287

MAHATVA PROPERTIES PRIVATE LIMITED

15/04/1997

-

U45202MH1986PTC041835

MAYFLOWER CONSTRUCTIONS PVT LTD

10/12/1986

-

U74900MH1991PTC062011

SHAH & DUMASIA CONSULTANCY PRIVATE LIMITED

07/06/1991

-

U70102MH1994PTC080160

MAGI DEVELOPERS PRIVATE LIMITED

24/02/1996

-

U45202MH1994PTC080157

MANSION REAL ESTATES PRIVATE LIMITED

05/08/1994

-

U70100MH1997PTC104962

MICRO REALITIES PRIVATE LIMITED

08/01/1997

-

U45200MH1996PTC103418

MOMENTO DEVELOPERS PRIVATE LIMITED.

18/10/1996

-

U45202MH1994PTC080158

MANTRA REAL ESTATES PRIVATE LIMITED

05/08/1994

-

U45200MH1996PTC102335

MANOHAR PROPERTIES PRIVATE LIMITED.

03/09/1996

-

U70101MH1995PTC084576

MOOKSH HOUSING PRIVATE LIMITED

12/01/1995

-

U45200MH1994PTC084165

MAHAN HOUSING PRIVATE LIMITED

30/12/1994

-

 

 

Name :

Ms. Anuradha Nayan Shah

Designation :

Director

Address :

601, Mangal Kripa, Tagore Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

27.08.1964

Qualification:

B.A.

Date of Appointment :

20.03.2007

DIN No.:

00244689

PAN No.:

AAQPS0001F

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U45200MH2004PTC144967

NEW ERA DWELLERS AND CONSTRUCTIONS PRIVATE LIMITED

11/04/2004

-

U45201MH2003PTC141663

MUMBAI SEZ DEVELOPMENT COMPANY PRIVATE LIMITED

07/08/2003

-

U45201MH2008PTC177235

MAYFAIR URBAN DEVELOPERS PRIVATE LIMITED

19/09/2016

-

U70102MH1997PTC107287

MAHATVA PROPERTIES PRIVATE LIMITED

15/04/1997

-

U70200MH2008PTC180966

MAYFAIR MERIDIAN DEVELOPERS PRIVATE LIMITED

19/07/2016

-

U70100MH1999PTC121072

METRO INFRASTRUCTURE AND PROJECT SOLUTIONS INDIA PRIVATE LIMITED

30/07/1999

-

U70100MH1996PTC103761

MYLUCK HOUSING PRIVATE LIMITED

05/11/1996

-

U70100MH1997PTC104962

MICRO REALITIES PRIVATE LIMITED

08/01/1997

-

U45200MH1996PTC103418

MOMENTO DEVELOPERS PRIVATE LIMITED.

18/10/1996

-

U45200MH1996PTC102335

MANOHAR PROPERTIES PRIVATE LIMITED.

03/09/1996

-

U70101MH1995PTC084576

MOOKSH HOUSING PRIVATE LIMITED

12/01/1995

-

U45200MH1994PTC084165

MAHAN HOUSING PRIVATE LIMITED

30/12/1994

-

U45202MH1994PTC080158

MANTRA REAL ESTATES PRIVATE LIMITED

05/08/1994

-

U45202MH1994PTC080157

MANSION REAL ESTATES PRIVATE LIMITED

05/08/1994

-

U70102MH1994PTC080160

MAGI DEVELOPERS PRIVATE LIMITED

24/02/1996

-

U74900MH1991PTC062011

SHAH & DUMASIA CONSULTANCY PRIVATE LIMITED

14/08/2013

-

U45202MH1986PTC041835

MAYFLOWER CONSTRUCTIONS PVT LTD

05/08/1994

-

U70100MH1986PTC041828

RENOWNED MAYUR ESTATE AND PROPERTIES PVT. LTD.

10/12/1986

-

U45200MH1984PTC033293

MAK ESTATES AND PROPERTIES PVT LTD

27/06/1984

-

U45200MH1984PTC033290

MERCURY CONSTRUCTION PVT LTD

27/06/1984

-

U45200MH1984PTC033286

MAGNIFICIENT LAND ENTERPRISES PVT LTD

27/06/1984

-

U45200MH1984PTC033285

MACRO REAL ESTATES PVT LTD

02/01/1999

-

U45200MH1984PTC033283

MAYFAIR BUILDERS PRIVATE LIMITED

05/08/1994

-

U21020MH1965PTC013154

BOX PACK PAPER INDUSTRIES PRIVATE LIMITED

02/01/1995

-

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Nayan Arvind Shah and Anuradha Nayan Shah

316760

Anuradha Nayan Shah and Nayan Arvind Shah

10000

Nayan Arvind Shah on Behalf of Nayan Arvind Shah (HUF)

1000

Aditya Nayan Shah

10000

Anay Nayan Shah

10000

Nayan Arvind Shah on Behalf of Nayan Arvind Shah Family Trust

200

Nayan Arvind Shah

652040

Total

1000000

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 28.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

99.98

Promoters- Body corporate

0.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Real Estate Developers. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Investment in Real Estate

681

 

 

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 :

Banker Name :

ICICI Bank Limited

Branch :

ICICI Bank Tower, Near Chakli Circle,Old Padra Road, Vadodara - 400058, 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 :

--

 

  • State Bank of India, S.I.B Branch Hotel Airways Building, Gr. Floor, L.B.S. Marg, Ghatkopar (West), Mumbai - 400092, Maharashtra, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Rupee term loans from banks

656.879

649.452

Rupee term loans from others

330.018

507.970

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

468.035

200.228

Loans repayable on demand from others

48.980

255.221

Total

1503.912

1612.871

 

 

Auditors :

 

Name :

M D Dumasia and Company

Chartered Accountants

Address :

611-A Sewa Samity Nagar Near Shanmukhanand Hall, Kings Circle, Mumbai-400037, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AACPD7122J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Other related party:
  • Mayfair Housing

 

 

Subsidiary:
  • New Era Dwellers and Constructions Private Limited, India [U45200MH2004PTC144967]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

INR 100/- each

INR 100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

INR 100/- each

INR 100.000 Million

 

 

 

 

 

 

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

100.000

100.000

100.000

(b) Reserves and Surplus

722.669

711.210

704.240

(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)

822.669

811.210

804.240

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1709.834

1539.572

1755.988

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

0.000

0.000

0.000

(d) long-term provisions

13.281

15.021

14.967

Total Non-current Liabilities (3)

1723.115

1554.593

1770.955

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

517.015

455.449

487.416

(b) Trade payables

249.602

263.144

230.335

(c) Other current liabilities

736.209

1719.400

1812.673

(d) Short-term provisions

28.651

80.825

166.245

Total Current Liabilities (4)

1531.477

2518.818

2696.669

 

 

 

 

TOTAL

4077.261

4884.621

5271.864

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

50.528

48.982

54.210

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Tangible assets 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

1322.833

1345.992

1332.040

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term loans and advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1373.361

1394.974

1386.250

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2094.640

2976.630

3223.639

(c) Trade receivables

118.990

59.772

67.850

(d) Cash and bank balances

214.299

91.780

161.970

(e) Short-term loans and advances

275.971

361.465

432.155

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

2703.900

3489.647

3885.614

 

 

 

 

TOTAL

4077.261

4884.621

5271.864

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

2103.731

1751.633

1879.509

 

Other Income

30.474

7.172

7.166

 

TOTAL

2134.205

1758.805

1886.675

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

2000.218

1607.894

1648.972

 

Employee benefit expense

53.540

47.866

47.351

 

Other expenses

23.778

24.820

30.093

 

TOTAL

2077.536

1680.580

1726.416

 

 

 

 

 

 

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

56.669

78.225

160.259

 

 

 

 

 

Less

FINANCIAL EXPENSES

21.263

57.433

58.516

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

35.406

20.792

101.743

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

8.809

8.196

9.351

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

26.597

12.596

92.392

 

 

 

 

 

Less

TAX

15.138

5.627

30.996

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

11.459

6.969

61.396

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

11.46

6.97

61.40

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

179.524

369.865

475.452

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

(85.712)

258.172

73.101

 

 

 

 

Net cash flows from (used in) operating activities

(123.732)

246.414

42.104

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

20.64

12.46

13.18

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

17.68

29.31

27.70

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

45.55

59.74

50.98

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.03

0.03

0.05

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.12

1.60

2.96

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.84

0.91

0.93

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

2.93

2.92

3.38

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.86

3.11

3.35

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.06

0.06

0.07

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.67

1.36

2.74

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.54

0.40

3.27

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.28

0.14

1.16

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

1.39

0.86

7.63

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.77

1.39

1.44

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.40

0.20

0.25

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.20

0.17

0.15

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

24.06

23.65

27.19

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.77

1.39

1.44

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

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

100.000

100.000

100.000

Reserves & Surplus

704.240

711.210

722.669

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

804.240

811.210

822.669

 

 

 

 

Long-term borrowings

1755.988

1539.572

1709.834

Short term borrowings

487.416

455.449

517.015

Current maturities of long-term debts

475.452

369.865

179.524

Total borrowings

2718.856

2364.886

2406.373

Debt/Equity ratio

3.381

2.915

2.925

 

 

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

1879.509

1751.633

2103.731

 

 

(6.804)

20.101

 

 

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

1879.509

1751.633

2103.731

Profit/ (Loss)

61.396

6.969

11.459

 

3.27 %

0.40 %

0.54 %

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

 

SOURCES OF FUNDS

 

 

31.03.2017

31.03.2016

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

100.000

100.000

(b) Reserves and Surplus

 

725.341

713.369

(c) Money received against share warrants

 

0.000

0.000

(d) Minority interest

 

24.920

24.418

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

825.341

813.369

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

2192.434

1981.572

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long-term liabilities

 

0.000

0.000

(d) long-term provisions

 

13.281

15.021

Total Non-current Liabilities (3)

 

2205.715

1996.593

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

 

827.015

585.449

(b) Trade payables

 

282.077

275.836

(c) Other current liabilities

 

739.427

1882.182

(d) Short-term provisions

 

29.151

81.450

Total Current Liabilities (4)

 

1877.670

2824.917

 

 

 

 

TOTAL

 

4933.646

5659.297

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

50.528

48.982

(ii) Intangible Assets

 

145.895

145.895

(iii) Tangible assets capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

1154.143

1177.302

(c) Deferred tax assets (net)

 

0.000

0.000

(d) Long-term loans and advances

 

0.000

0.000

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

1350.566

1372.179

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

2963.176

3747.541

(c) Trade receivables

 

118.991

59.772

(d) Cash and bank balances

 

218.184

112.160

(e) Short-term loans and advances

 

282.731

367.645

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

3583.082

4287.118

 

 

 

 

TOTAL

 

4933.648

5659.297

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

2103.731

1751.633

 

Other Income

 

31.937

8.969

 

TOTAL

 

2135.668

1760.602

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

2000.218

1607.894

 

Purchases of Stock-in-Trade

 

0.000

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

0.000

0.000

 

Employee benefit expense

 

53.540

47.866

 

Expenditure on production, transportation and

Other expenditure pertaining to exploration

and production activities

 

0.000

0.000

 

CSR expenditure

 

0.000

0.000

 

Other expenses

 

23.778

24.820

 

Prior period items before tax

 

0.000

0.000

 

Exceptional items before tax

 

0.000

0.000

 

Extraordinary items before tax

 

0.000

0.000

 

TOTAL

 

2077.536

1680.580

 

 

 

 

 

 

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

 

58.132

80.022

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

21.263

57.433

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

36.869

22.589

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

8.809

8.196

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

28.060

14.393

 

 

 

 

 

Less

TAX

 

15.587

6.252

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

 

12.473

8.141

 

 

 

 

 

 

Profit (loss) of minority interest

 

(0.502)

(0.580)

 

 

 

 

 

 

TOTAL PROFIT (LOSS) FOR PERIOD

 

11.972

7.562

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

12.47

8.14

 

 

 

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

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATIONS AND ACCOUNTS:

 

The Company’s Gross revenue was INR 2130.000 Million during the year compared to INR 1760.000 Million last year. The profit after tax increased to INR 11.500 Million during the year from INR 6.970 Million last year.

 

The projects for which revenues recognized were the ones having expensive land value resulting in to higher cost coupled with higher interest overheads absorption which also affected profitability.

 

The Company also witnessed difficulty in sales, which is evident from minor drop in Gross Revenue. The management could foresee this problem earlier therefore observed significant restrain in acquiring new properties and controlling cost. Inventories have been in control from INR 2980.000 Million last year to INR 2090.000 Million. The Company introduced various promotional schemes offering discounts in sale value and value additions free of cost to customers, because of which we could keep their inventories under control and maintain liquidity.

 

The directors are taking all steps like selective in their approach and rigorous cost control to weather out of these turbulence.

 

The Company has made substantial investments in projects in India and overseas, as these projects are of long gestation, the projects will give substantial benefits to the Company in years to come.

 

UNSECURED LOANS:

(INR In Million)

Particulars

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Loans and advances from others

722.937

382.150

Total

722.937

382.150

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G78427036

100158032

ICICI BANK LIMITED

21/02/2018

-

250000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAMH400058IN

2

G49984826

100114634

TATA CAPITAL FINANCIAL SERVICES LIMITED

23/06/2017

-

150000000.0

ONE FORBESDR. V. B. GANDHI MARG, FORT,MUMBAIMH400001IN

3

G41112830

100089856

STATE BANK OF INDIA

13/04/2017

-

225000000.0

S.I.B BRANCH HOTEL AIRWAYS BUILDING, GR. FLOOR,L.B.S. MARG, GHATKOPAR (W),MUMBAIMH400092IN

4

G34524132

100074505

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

03/01/2017

-

150000000.0

RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN

5

G29780392

100065864

STATE BANK OF INDIA

08/12/2016

-

120000000.0

S.I.B BRANCH HOTEL AIRWAYS BUILDING, GR. FLOOR,L.B.S. MARG, GHATKOPAR (W),MUMBAIMH400086IN

6

G41106139

100059153

ICICI BANK LIMITED

07/11/2016

13/04/2017

300000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAMH400064IN

7

G02423630

100023214

KOTAK MAHINDRA INVESTMENTS LIMITED

16/04/2016

-

50000000.0

27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN

8

G41108820

100016373

ICICI BANK LIMITED

29/03/2016

13/04/2017

400000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAMH400064IN

9

G41094772

10556678

ICICI BANK LIMITED

24/03/2015

13/04/2017

500000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAMH400064IN

10

C43431931

10548824

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

12/02/2015

-

95000000.0

RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, 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 :

SUP

 

 

Analysis Done by :

PSD

 

 

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.