|
|
|
MIRA INFORM REPORT
|
Report No. : |
507748 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRIL INFOPARK LIMITED |
|
|
|
|
Registered
Office : |
Ramanujan IT City, Rajiv Gandhi Salai (OMR), Taramani,
Chennai – 600113, Tamilnadu |
|
Tel. No.: |
91-44-66855111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
20.03.2008 |
|
|
|
|
Com. Reg. No.: |
18-066931 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10500.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200TN2008PLC066931 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AACCT9203B1ZV |
|
|
|
|
TIN No.: |
33420963604 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT9203B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of promoting and developing sector specific Special Economic Zone (SEZ) for Information Technology and its also engaged in construction of international conventional centre with service apartments. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined 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 11000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is
a subsidiary of Tata Reality and Infrastructure limited, the balance stake
held by Tamil Nadu Industrial Development Corporation and Indian Hotels
Company Ltd and was incorporated in the year 2008. It is a
Special Purpose Vehicle (SPV) created to execute Ramanujan IT City at
Chennai. As per
Registrar Of Companies the date of balance sheet (i.e. financial filed) is
shown as 31-03-2017 but the documents related to the financial for the year
2017 are not available from any sources. As per the
financial year 2016, the company has increased in its revenue from operations
and reported healthy profitability margin of 49%. The company
has sound financial base, strong capital structure along with average debt
balance sheet. Rating
takes into consideration strong managerial and financial support received to
the company from its holding entity. Further,
the company also derives strength from its healthy improving revenue as well
profitability profile as compared to previous year. However,
rating strength is partially offset by negative reserves position and
volatile as well as slowdown in the real estate industry. Trade
relations are reported as fair. Business is active. Payments are usually correct. The company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (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 |
|
Rating |
Long Term Rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
10.11.2017 |
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
10.11.2017 |
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 08.05.2018.
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 [Tel. No.: 91-44-66855111 / 91-22-66294000]
LOCATIONS
|
Registered Office : |
Ramanujan IT City, Rajiv Gandhi Salai (OMR), Taramani, Chennai
– 600113, Tamilnadu, India |
|
Tel. No.: |
91-44-66855111 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Phillie Dara Karkaria |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Sleater House No. 2, Flat No. 1, Naushir Bharucha Road,
Mumbai – 400007, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.11.1948 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.03.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00059397 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Velan Chidambaranathan |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No 2, Kameshwari Apartments, Door No 4, 77th Street,
16th Avenue Ashok Nagar, Chennai – 600083, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.04.1962 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.06.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00181706 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sanjay Bhupender Dutt |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Vivarea Residencies, B-1102, 11th Floor, Sane Guruji Marg,
Mahalaxmi, Mumbai – 400011, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.04.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05251670 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arvind Chokhany |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
402, Dosti Ambrosia, Dosti Acres, Wadala East, Mumbai –
400037, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.08.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06668147 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ramesh Chand Meena |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A1/3 S A F Games Village Koyambedu, Chennai – 600107,
Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
08009394 |
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|
Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Biju john |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
B-2, Queens Court, 98/146, Montieth Road, Egmore, Chennai
– 600008, Tamilnadu, India |
|
Date of Appointment : |
14.08.2014 |
|
PAN No.: |
AFDPJ6089E |
|
|
|
|
Name : |
Ramprasad |
|
Designation : |
Company Secretary |
|
Address : |
Flat 51 Home Finders Court, 7 Chitlapakkam Main Road, Near
Mit Gate, C Hrompet, Chennai – 600044, Tamilnadu, India |
|
Date of Appointment : |
25.04.2018 |
|
PAN No.: |
AFSPR2612A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Tata Realty and Infrastructure Limited |
|
628899994 |
|
Tata Realty and Infrastructure Limited jointly with Biju John |
|
1 |
|
Tata Realty and Infrastructure Limited jointly with Vinay Gaokar |
|
1 |
|
Tata Realty and Infrastructure Limited jointly with Sunil Dhagat |
|
1 |
|
Tata Realty and Infrastructure Limited jointly with Ms. Amala Pothen |
|
1 |
|
Tata Realty and Infrastructure Limited jointly with Sanjay Ubale |
|
1 |
|
Tata Realty and Infrastructure Limited jointly with C. Velan |
|
1 |
|
The Indian Hotels Company Limited |
|
71100000 |
|
Tamilnadu Industrial Development Corporation Limited |
|
50000000 |
|
|
|
|
|
Total |
|
750000000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Tata Realty and Infrastructure Limited |
|
30000000 |
|
|
|
|
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of promoting and developing sector specific Special Economic Zone (SEZ) for Information Technology and its also engaged in construction of international conventional centre with service apartments. [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
1st Floor No-10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Tata Realty and Infrastructure Limited U70102MH2007PLC168300 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000000 |
Equity Shares |
INR 10/- each |
INR 15000.000 Million |
|
50000000 |
Preference Shares |
INR 100/- each |
INR 5000.000 Million |
|
|
Total |
|
INR 20000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
INR 10/- each |
INR 7500.000
Million |
|
30000000 |
Preference Shares |
INR 100/- each |
INR 3000.000
Million |
|
|
Total |
|
INR 10500.000 Million |
FINANCIAL DATA
[all figures are
in Rupees 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 |
10500.000 |
10500.000 |
10500.000 |
|
(b) Reserves and Surplus |
(6410.708) |
(7942.728) |
(6407.911) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4089.292 |
2557.272 |
4092.089 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26970.000 |
16989.000 |
17479.999 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
1451.489 |
1672.860 |
1446.722 |
|
(d) long-term
provisions |
9.425 |
7.535 |
7.175 |
|
Total Non-current
Liabilities (3) |
28430.914 |
18669.395 |
18933.896 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
296.343 |
3344.696 |
3393.038 |
|
(b) Trade
payables |
608.194 |
379.555 |
496.827 |
|
(c) Other
current liabilities |
584.911 |
5702.732 |
2423.500 |
|
(d) Short-term
provisions |
0.730 |
0.638 |
0.692 |
|
Total Current
Liabilities (4) |
1490.178 |
9427.621 |
6314.057 |
|
|
|
|
|
|
TOTAL |
34010.384 |
30654.288 |
29340.042 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12627.892 |
12418.965 |
12750.455 |
|
(ii)
Intangible Assets |
12491.403 |
11775.454 |
11903.957 |
|
(iii) Tangible assets
capital work-in-progress |
7687.146 |
4850.649 |
3287.694 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.710 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
758.621 |
678.674 |
405.255 |
|
(e) Other
Non-current assets |
35.022 |
40.130 |
37.010 |
|
Total Non-Current
Assets |
33600.794 |
29763.872 |
28384.371 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
221.434 |
160.460 |
165.950 |
|
(d) Cash and
bank balances |
33.012 |
603.871 |
595.970 |
|
(e)
Short-term loans and advances |
103.638 |
68.895 |
53.325 |
|
(f) Other
current assets |
51.506 |
57.190 |
140.426 |
|
Total Current
Assets |
409.590 |
890.416 |
955.671 |
|
|
|
|
|
|
TOTAL |
34010.384 |
30654.288 |
29340.042 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3094.106 |
2460.412 |
1342.534 |
|
|
Other Income |
46.990 |
51.631 |
22.341 |
|
|
TOTAL |
3141.096 |
2512.043 |
1364.875 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
41.389 |
36.116 |
20.331 |
|
|
Other expenses |
949.926 |
1059.605 |
3002.257 |
|
|
Exceptional items before tax |
(1960.000) |
0.000 |
0.000 |
|
|
TOTAL |
(968.685) |
1095.721 |
3022.588 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4109.781 |
1416.322 |
(1657.713) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1758.712 |
2234.598 |
1711.087 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2351.069 |
(818.276) |
(3368.800) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
819.048 |
716.541 |
618.012 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1532.021 |
(1534.817) |
(3986.812) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1532.021 |
(1534.817) |
(3986.812) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.96 |
(1.97) |
(5.11) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
20.000 |
5534.000 |
2000.000 |
|
Net cash flows from (used in) operations |
2575.369 |
1389.993 |
982.774 |
|
Net cash flows from (used in) operating activities |
2430.323 |
1413.441 |
893.718 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
26.12 |
23.80 |
45.12 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
13.97 |
15.33 |
8.09 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.13 |
0.05 |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.84 |
1.04 |
0.88 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
6.67 |
10.12 |
5.59 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.36 |
3.69 |
1.54 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
8.02 |
11.36 |
6.83 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
2.34 |
0.63 |
(0.97) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
49.51 |
(62.38) |
(296.96) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
4.50 |
(5.01) |
(13.59) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
37.46 |
(60.02) |
(97.43) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
0.27 |
0.09 |
0.15 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.27 |
0.09 |
0.15 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.12 |
0.08 |
0.14 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
2.60 |
2.46 |
2.18 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
0.27 |
0.09 |
0.15 |
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 |
10500.000 |
10500.000 |
10500.000 |
|
Reserves & Surplus |
(6407.911) |
(7942.728) |
(6410.708) |
|
Net
worth |
4092.089 |
2557.272 |
4089.292 |
|
|
|
|
|
|
Long-term borrowings |
17479.999 |
16989.000 |
26970.000 |
|
Short term borrowings |
3393.038 |
3344.696 |
296.343 |
|
Current maturities of
long-term debts |
2000.000 |
5534.000 |
20.000 |
|
Total
borrowings |
22873.037 |
25867.696 |
27286.343 |
|
Debt/Equity
ratio |
5.590 |
10.115 |
6.673 |
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 |
1342.534 |
2460.412 |
3094.106 |
|
|
0.000 |
83.266 |
25.756 |
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 |
1342.534 |
2460.412 |
3094.106 |
|
Profit/ (Loss) |
(3986.812) |
(1534.817) |
1532.021 |
|
|
(296.96
%) |
(62.38
%) |
49.51
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
BACKGROUND
TRIL Infopark Limited (“the Company”) was incorporated on March 20, 2008. The Company is a special purpose vehicle formed as a result of a joint venture agreement entered into between Tamilnadu Industrial Development Corporation (TIDCO), Indian Hotels Company Limited (IHCL) and Tata Realty Infrastructure Limited (TRIL). It is engaged in the business of promoting and developing sector specific Special Economic Zone (SEZ) for Information Technology at Taramani, Chennai. In addition, the Company is also engaged in construction of international conventional centre with service apartments. During an earlier year, the Company has raised debt through privately placed debentures and these debentures have been listed in the Bombay Stock Exchange.
FINANCIAL REVIEW:
During the year the Company has generated revenue of INR 3141.096 Million as against INR 2512.043 Million in previous year. Expenditure incurred for the year was INR 3569.000 Million as against INR 4046.800 Million in previous year resulting in operating loss of INR 428.000 Million as against INR 1534.800 Million in the previous year. Marginal decrease in power and fuel expenses is on account of permanent TNEB connection taken during the year. The increase in Revenue is attributable to the higher occupancy/full year rentals from Neville and Little-wood towers.
During the year ended March 31, 2016, the Company had carried out an impairment analysis of its fixed and other assets through an independent firm. As at previous year ended March 31, 2015, the aggregate impairment provision carried is INR 3290.000 Million. Based on the performance of the project during the current year and future projections, an impairment charge to the extent of INR 1960.000 Million has been reversed during the year ended March 31, 2016. This reversal has resulted in reduction of negative value of reserves. Issue of securities: During the year the Company issued unlisted, un-secured Compulsory Convertible Debentures (CCD) on Private Placement Basis at par aggregating to INR 2500.000 Million to Tata Realty and Infrastructure Limited. The tenor of CCD shall be for a period not exceeding sixty moths. Other terms of issue are as per the letter of offer dated 11th May 2015 issued by the Company. Notice of Demand from Income Tax Department: During the Financial Year 2013-14 (October 3rd, 2013), the Company had received a notice of demand from the income-tax authorities for INR 5170.000 Million towards non-deduction of tax at source on a transaction including interest thereon. The Company had filed an appeal before the CIT (A) and such appeal was ruled in favour of the department. Seeking redressal against such action an appeal against the CIT (A) order was filed with the Income Tax Appellate Tribunal, Chennai (ITAT) on 20th March, 2014. The Company received an order from ITAT on 19th June 2015 redirecting the matter to the Assessing Officer to reconsider the issue. The Company preferred an appeal against the aforesaid order with the Hon’ble High Court of Judicature, Madras and has received a favorable order on 7th March, 2016.
OPERATIONAL REVIEW:
The Phase II development in processing zone, encompassing two IT Commercial Towers of 1.3 Million square feet (approx) is nearing final stage of completion. Company has commenced development of Non-Processing Zone (NPZ) comprising of (i) 1500 seater International Integrated Convention Centre and (ii) 100 key Service Apartments. The Company intends to utilize the said facility both for inmates of the campus and for clients in Domestic Tariff Area (DTA). The Company has obtained consent from Development Commissioner, for construction of NPZ without availing duty and tax benefits. However Company would seek the approval of BoA for utilization before commencing the operation. Company has implemented many initiatives in the area of energy savings, cost optimization, process improvements viz., Renewable Energy & Third Party Power purchase, introduction of energy saving measures viz., LED lighting for common area, conversion of AHU motors with DC, Wealth out of Waste Programmes, Food waste processing, Kaizen, Six sigma practices for process improvement and waste minimization etc., Nevertheless to mention our campus was well managed during the deluge in the month of December’15 which has earned lot of respect from the clients and the market for our campus. The (MGR Film City Road) Road laying work was completed jointly by Corporation of Chennai & TRIL Infopark Limited through “Self Sufficiency Scheme”. The Company were ready with the Road along with storm water drain before the Monsoon and this was one of the reason for seamless operation in spite of deluge.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from others |
0.000 |
2500.000 |
|
Non-convertible debentures others |
2500.000 |
0.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Other loans and advances |
17.037 |
342.696 |
|
Working capital loans from banks |
0.000 |
1000.000 |
|
|
|
|
|
Total |
2517.037 |
3842.696 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G81777617 |
100164712 |
IDBI TRUSTEESHIP SERVICES LIMITED |
17/03/2018 |
- |
- |
26000000000.0 |
Asian Building, Ground floor, 17, R Kamani Marg,Ballard Estate,MumbaiMH400001IN |
|
2 |
C64865215 |
10592365 |
IDBI TRUSTEESHIP SERVICES LIMITED |
16/07/2015 |
- |
- |
6000000000.0 |
Asian Building, Ground floor, 17, R Kamani Marg,Ballard EstateMumbaiMH400001IN |
|
3 |
C50017243 |
10561277 |
IDBI TRUSTEESHIP SERVICES LIMITED |
18/03/2015 |
- |
- |
13000000000.0 |
Asian Building, Ground floor, 17, R Kamani Marg,Ballard Estate, MumbaiMumbaiMH400001IN |
|
4 |
C02678548 |
10488125 |
PUNJAB NATIONAL BANK |
28/03/2014 |
- |
- |
1380000000.0 |
PUNJAB NATIONAL BANKANNA SALAI, RAYALA TOWERS, III FLOORCHENNAITN600002IN |
|
5 |
G81085938 |
10565551 |
IDBI TRUSTEESHIP SERVICES LIMITED |
25/02/2015 |
- |
27/03/2018 |
15000000000.0 |
Asian Building, Ground floor, 17, R Kamani Marg,Ballard Estate, MumbaMumbaiMH400001IN |
|
6 |
C67904847 |
10537464 |
PUNJAB NATIONAL BANK |
30/10/2014 |
- |
29/09/2015 |
2000000000.0 |
BHIKHAJI CAMA PLACENEW DELHIDL110001IN |
|
7 |
C64019052 |
10384463 |
IDBI TRUSTEESHIP SERVICES LIMITED |
17/10/2012 |
- |
09/09/2015 |
14000000000.0 |
ASIAN BUILDING, GROUND FLOOR,17,R,KAMANI MARG, BALLARD ESTATE,MUMBAIMH400001IN |
|
8 |
C52201613 |
10427003 |
IDBI TRUSTEESHIP SERVICES LIMITED |
13/05/2013 |
- |
05/05/2015 |
2250000000.0 |
ASIAN BUILDING, GROUND FLOOR,17,R,KAMANI MARG, BALLARD ESTATE,MUMBAIMH400001IN |
|
9 |
C52202645 |
10398178 |
IDBI TRUSTEESHIP SERVICES LIMITED |
24/12/2012 |
- |
05/05/2015 |
2500000000.0 |
ASIAN BUILDING, GROUND FLOOR,17,R,KAMANI MARG, BALLARD ESTATE,MUMBAIMH400001IN |
|
10 |
C52203924 |
10424880 |
IDBI TRUSTEESHIP SERVICES LIMITED |
29/04/2013 |
- |
05/05/2015 |
4500000000.0 |
ASIAN BUILDING, GROUND FLOOR,17,R,KAMANI MARG, BALLARD ESTATE,MUMBAIMH400001IN |
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYO |
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.