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|
|
MIRA INFORM REPORT
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Report No. : |
508343 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
M3M INDIA PRIVATE LIMITED (w.e.f. 11.08.2014) |
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|
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Formerly Known
As : |
M3M INDIA LIMITED (w.e.f. 03.07.2012) M3M INDIA DEVELOPERS LIMITED
(w.e.f. 21.02.2012) M3M
INDIA DEVELOPERS PRIVATE LIMITED (w.e.f.
18.10.2011) TREMENDOUS COMPED PRIVATE LIMITED |
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Registered
Office : |
Paras Twin Towers, Tower-B, 6th Floor, Golf Course Road,
Sector 54, Gurugram – 122002, Haryana |
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Tel. No.: |
91-124-4732000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
21.03.2007 |
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Com. Reg. No.: |
55- 044491 |
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Capital
Investment / Paid-up Capital : |
INR 446.100 Million |
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CIN No.: [Company Identification
No.] |
U80903HR2007PTC044491 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCT7082Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction
activity. [Registered Activity] |
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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 |
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Maximum Credit Limit : |
USD 66000000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “M3M India Holdings Private
Limited”. The company was incorporated in the year 2007. It is engaged into
Construction business. Business is active. Payment seems to be slow but correct. In view of aforesaid, 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 09.05.2018
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 BY
|
Name : |
Mr. Sunil |
|
Designation : |
Accounts Department |
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Contact No.: |
91-124-4732000 |
|
Date : |
08.05.2018 |
LOCATIONS
|
Registered Office / Corporate Office: |
Paras Twin Towers, Tower-B, 6th Floor, Golf Course Road, Sector
54, Gurugram – 122002, Haryana, India |
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Tel. No.: |
91-124-4732000 |
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Fax No.: |
91-124-4732010 |
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E-Mail : |
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Website: |
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Sales Gallery
Address: |
"The Experia" 12th Floor, M3M Cosmopolitan, Sector – 66, Gurugram – 122002, Haryana, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vijay Kumar Aggarwal |
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Designation : |
Wholetime Director |
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Address : |
P-32, Block-P Budh Vihar Phase-1, Delhi-
110086, India |
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Date of Birth/Age : |
04.03.1965 |
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Qualification: |
Graduate |
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Date of Appointment : |
15.06.2012 |
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DIN No.: |
05170472 |
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Other Directorship:
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Name : |
Roop Kumar |
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Designation : |
Director |
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Address : |
Flat No.-103-B, The Aralias DLF Golf Links,
Golf Course Road, Gurugram – 122009, Haryana, India |
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Date of Birth/Age : |
16.10.1966 |
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Qualification: |
Graduate |
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Date of Appointment : |
01.07.2017 |
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DIN No.: |
00454237 |
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Other Directorship:
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Name : |
Mr. Vivek Ranjan |
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Designation : |
Director |
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Address : |
B-3, Cloud Nine Cottages Village,
Dhumaspur, Gurugram 122101, Haryana, India |
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Date of Birth/Age : |
13.04.1965 |
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Qualification: |
Graduate |
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Date of Appointment : |
15.06.2012 |
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DIN No.: |
02227174 |
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Other Directorship:
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Name : |
Mr. Pankaj Bansal |
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Designation : |
Director |
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Address : |
Flat No. 103-B, Aralias, DLF Golf Links
Golf Course Road, Gurugram- 122002, Haryana, India |
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Date of Birth/Age : |
21.11.1987 |
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Qualification: |
Graduate |
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Date of Appointment : |
01.07.2017 |
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DIN No.: |
02693855 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Samiksha Khaneja |
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Designation : |
Company Secretary |
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Address : |
B-129/1, Derawal Nagar, Delhi- 110009,
India |
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Date of Appointment : |
28.02.2018 |
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PAN No.: |
AEQPD1402B |
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|
|
|
Name : |
Mr. Sunil |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Lal Chand Bansal |
|
15440 |
|
Shakuntala Rani |
|
6176 |
|
Basant Bansal |
|
1111680 |
|
Abha Bansal |
|
916943 |
|
Roop Kumar |
|
993564 |
|
Pankaj Bansal |
|
3281 |
|
M3m India Holdings Private Limited |
|
41562916 |
|
Total |
|
44610000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
6.83 |
|
Promoters- Body corporate |
93.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction
activity. [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 : |
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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
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|
Name : |
Walker Chandiok and Associates Chartered Accountants |
|
Address : |
L- 41, Connaught Circus, New Delhi-110001 India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW0513A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
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Wholly Owned
Subsidiaries: |
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Subsidiary Company: |
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Associate Company: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44680000 |
Equity Shares |
INR 10/- each |
INR 446.800 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44610000 |
Equity Shares |
INR 10/- each |
INR 446.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
446.100 |
446.100 |
446.100 |
|
(b) Reserves &
Surplus |
22795.071 |
26828.672 |
27479.746 |
|
(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) |
23241.171 |
27274.772 |
27925.846 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
9920.358 |
10041.317 |
9.970 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.693 |
0.000 |
0.000 |
|
(d) long-term provisions |
77.425 |
42.153 |
40.621 |
|
Total Non-current
Liabilities (3) |
10001.476 |
10083.470 |
50.591 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7786.992 |
3122.022 |
2313.329 |
|
(b) Trade payables |
1914.608 |
1389.823 |
1142.599 |
|
(c) Other current
liabilities |
13588.415 |
29678.867 |
27862.481 |
|
(d) Short-term provisions |
2.996 |
1.926 |
2.936 |
|
Total Current Liabilities
(4) |
23293.011 |
34192.638 |
31321.345 |
|
|
|
|
|
|
TOTAL |
56535.658 |
71550.880 |
59297.782 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
92.642 |
111.011 |
116.869 |
|
(ii) Intangible Assets |
5.230 |
6.472 |
9.807 |
|
(iii) Capital
work-in-progress |
13.610 |
4.405 |
3.507 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
Goodwill |
16019.085 |
21933.758 |
-- |
|
(b) Non-current
Investments |
4070.750 |
4996.403 |
5118.702 |
|
(c) Deferred tax assets
(net) |
91.188 |
388.624 |
147.484 |
|
(d) Long-term Loan and Advances |
8.779 |
9.038 |
56.409 |
|
(e) Other Non-current
assets |
162.904 |
205.657 |
152.659 |
|
Total Non-Current Assets |
20464.188 |
27655.368 |
5605.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
24.096 |
|
(b) Inventories |
20774.177 |
21090.857 |
41522.374 |
|
(c) Trade receivables |
2691.990 |
1268.198 |
9.757 |
|
(d) Cash and cash
equivalents |
1301.872 |
805.327 |
2047.899 |
|
(e) Short-term loans and
advances |
1546.973 |
0.858 |
9621.556 |
|
(f) Other current assets |
9756.458 |
20730.272 |
466.663 |
|
Total Current Assets |
36071.470 |
43895.512 |
53692.345 |
|
|
|
|
|
|
TOTAL |
56535.658 |
71550.880 |
59297.782 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
15579.327 |
3787.283 |
6713.985 |
|
|
Other Income |
2651.996 |
108.413 |
235.690 |
|
|
TOTAL |
18231.323 |
3895.696 |
6949.675 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7523.077 |
1908.367 |
6569.478 |
|
|
Employees benefits
expense |
433.163 |
331.927 |
365.005 |
|
|
Other expenses |
5500.303 |
808.761 |
848.279 |
|
|
Exceptional
items |
0.000 |
0.000 |
313.200 |
|
|
TOTAL |
13456.543 |
3049.055 |
8095.962 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
4774.780 |
846.641 |
(1146.287) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2257.321 |
195.786 |
11.612 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2517.459 |
650.855 |
(1157.899) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5953.893 |
258.043 |
79.950 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(3436.434) |
392.812 |
(1237.849) |
|
|
|
|
|
|
|
Less |
TAX |
593.306 |
297.852 |
533.719 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(4029.740) |
94.960 |
(1771.568) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
NA |
12.858 |
22.121 |
|
|
TOTAL IMPORTS |
NA |
12.858 |
22.121 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(90.33) |
2.13 |
(39.71) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
26.236 |
10.495 |
9.289 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(4068.259) |
(12171.198) |
(822.644) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(4520.467) |
(12339.570) |
(1143.945) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
63.07 |
122.22 |
0.53 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.79 |
2.99 |
688.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
92.89 |
265.82 |
63.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.23 |
0.04 |
(0.03) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
42.83 |
6.95 |
(8.81) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.59 |
0.62 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.76 |
0.48 |
0.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.00 |
1.25 |
1.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.12 |
4.32 |
(98.72) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(25.87) |
2.51 |
(26.39) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(7.13) |
0.13 |
(2.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(17.34) |
0.35 |
(6.34) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.55 |
1.28 |
1.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.67 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.41 |
0.38 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
39.75 |
29.53 |
5.23 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.55 |
1.28 |
1.71 |
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 |
446.100 |
446.100 |
446.100 |
|
Reserves & Surplus |
27479.746 |
26828.672 |
22795.071 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
27925.846 |
27274.772 |
23241.171 |
|
|
|
|
|
|
Long Term borrowings |
9.970 |
10041.317 |
9920.358 |
|
Short Term borrowings |
2313.329 |
3122.022 |
7786.992 |
|
Current Maturities of Long term debt |
9.289 |
10.495 |
26.236 |
|
Total
borrowings |
2332.588 |
13173.834 |
17733.586 |
|
Debt/Equity
ratio |
0.084 |
0.483 |
0.763 |
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
|
6713.985 |
3787.283 |
15579.327 |
|
|
|
(43.591) |
311.359 |
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
|
6713.985 |
3787.283 |
15579.327 |
|
Profit |
(1771.568) |
94.960 |
(4029.740) |
|
|
(26.39%) |
2.51% |
(25.87%) |
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 |
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 |
BUSINESS[RV1] OVERVIEW[RV2]
The Company has
been growing rapidly over the past few years and there have been substantial
business development opportunities available for the Company. With the
enactment and notification of the Real Estate (Regulation and Development) Act
(“RERA”) and the consequent notification of the Haryana Real Estate (Regulation
and Development) Rules, 2017 (“H-RERA Rules”) the sentiments and the confidence
of the various purchasers and investors in the real estate and infrastructure
sectors have been boosted and greater responsibility, liability and
accountability has been envisaged both for the developer as well as for the
allottee/purchaser. RERA has the potential of transforming the real estate
sector by bringing much needed transparency and consistency apart from
attracting investors for the sector. The Company’s product portfolio comprises
of esteemed projects in various real estate verticals such as residential,
commercial, IT/ITes SEZ, mixed use development and hospitality. The Company is
currently having various projects under development comprising of residential,
commercial, and IT enabled projects which are in the various stages of
development. The ongoing projects being undertaken by the Company are duly
registered with the authority for the state of Haryana constituted under the
RERA Act. Further, during the course of the Financial Year 2017-2018 the
company has the prospects of launching further projects in various streams
after having the same registered under RERA.
Despite adverse
market conditions and tough year for the real estate and infrastructure
development, the Company has successfully concluded the construction and
development of various projects / phases / segments / constituents of the
developments of which were being undertaken by the Company amongst which are:
“M3M Cosmopolitan”
– a commercial project;“M3M Urbana” – a commercial project;“M3M Merlin” – a
residential group housing project;“M3M Golf Estate – Fairway West” – a
block/segment/constituent of the larger development of a group housing colony
by the name of “M3M Golf Estate”;“M3M Golf Estate – Fairway East” – a
block/segment/constituent of the larger development of a group housing colony
by the name of “M3M Golf Estate”;“M3M Woodshire” - a residential group housing
project Further, the Company with the active support and dedication of its
employees and the contractors/vendors have been able to achieve the delivery
benchmark for the aforesaid projects and offer possession thereof to the
allottees despite the prevailing real estate and economic conditions. This has
been a landmark achievement for the Company and its employees and in the long
run it will establish the goodwill and
reputation of the
Company in the industry.
Further, the
Company is expected to receive the appropriate approvals for the other
developments undertaken and possessions will be offered soon for such
developments.
During the current
year, the Company shall make every endeavour to mark and continue its presence
in the real estate sector with new launches of projects in
residential/commercial and other developments.
The company has
been performing satisfactorily in spite of tough market condition attributable
to global backdrop, new regulatory framework.
The company is committed to deliver value, quality and satisfactory
delivery to the customers.
FINANCIAL OVERVIEW
First time
adoption of IND AS
The financial
statements of the Company have been prepared in accordance with the Indian
Accounting Standards as notified under section 133 of the Companies Act 2013
read with the Companies (Indian Accounting Standards) Rules 2015 (by Ministry
of Corporate Affairs (‘MCA’)). The Company has uniformly applied the accounting
policies during the periods presented.
For all periods up
to and including the year ended 31 March 2016, the Company has prepared its
financial statements in accordance with accounting standards notified under the
section 133 of the Companies Act 2013, read together with paragraph 7 of the
Companies (Accounts) Rules, 2014 (Previous GAAP). These financial statements
for the year ended 31 March 2017 are the first which the Company has prepared
in accordance with Ind AS. For the purpose of corresponding figures, set of
financial statements for the year ended 31 March 2016 and opening balance sheet
as at 1 April 2015 are also prepared under Ind AS.
During the year,
Revenue from Operations for the year witnessed increased to 15579.327 Million
(previous year 3787.283 Million). Other income of the Company was 2651.996
Million (previous year 108.413 Million) and overall expenses of the Company
have also risen to 21667.757 Million (previous year 3502.884 Million). The loss
before tax is 3436.434 Million (previous year profit before tax 392.812
Million). Accordingly, the Company has incurred a net loss of 4029.740 Million
for the year ended March 31, 2017 (previous year profit after tax 94.960
Million). The Earning Per Share (EPS) stood at (90.33) in the current year as
compared to 2.13 in the previous year.
The Company is
committed to and remains focused to accelerate the Company’s performance.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G74067935 |
100148115 |
STCI FINANCE
LIMITED |
20/12/2017 |
- |
850000000.0 |
A/B 1-802, A WING
8TH FLOOR, MARATHON INNOVA,MARATHON NEXTGEN COMPOUND, OFF. G.K. MARG,LOWER
PAREL WEST MUMBAIMA400013IN |
|
2 |
G73849267 |
100145940 |
ICICI BANK LIMITED |
14/12/2017 |
20/12/2017 |
1250000000.0 |
S 26,27,28 VEERA TOWERGREEN
PARK EXTENSIONNEW DELHIHR122017IN |
|
3 |
G61173530 |
100130305 |
INDIAN BANK |
04/10/2017 |
12/10/2017 |
3250000000.0 |
G 41 CONNAUGHT
PLACENEW DELHIDL110001IN |
|
4 |
G51519452 |
100115797 |
ICICI BANK LIMITED |
14/07/2017 |
24/08/2017 |
1000000000.0 |
S 26,27,28 VEERA
TOWERGREEN PARK EXTENSIONNEW DELHIHR122017IN |
|
5 |
G79730933 |
100075129 |
INDIABULLS
COMMERCIAL CREDIT LIMITED |
25/01/2017 |
19/02/2018 |
610000000.0 |
M - 62 &
63FIRST FLOOR, CONNAUGHT PLACENEW DELHIDE110001IN |
|
6 |
G36381077 |
100068225 |
ICICI BANK LIMITED |
29/12/2016 |
14/02/2017 |
1000000000.0 |
S 26,27,28 VEERA
TOWERGREEN PARK EXTENSIONNEW DELHIDL110016IN |
|
7 |
G32454159 |
100070027 |
RELIANCE HOME
FINANCE LIMITED |
26/12/2016 |
- |
100000000.0 |
RELIANCE CENTRE, 6TH
FLOOR, SOUTH WING,OFF. WESTERN EXPRESS HIGHWAY, SANTACRUZ
(EAST)MUMBAIMA400055IN |
|
8 |
G34758839 |
100075059 |
INDUSIND BANK LTD. |
06/12/2016 |
- |
2000000000.0 |
2401 GEN THIMMAYYA
ROADCONTONMENTPUNEMA411001IN |
|
9 |
G79725222 |
100057502 |
INDIABULLS HOUSING
FINANCE LIMITED |
19/10/2016 |
19/02/2018 |
15000000000.0 |
M - 62 &
63FIRST FLOOR, CONNAUGHT PLACENEW DELHIDE110001IN |
|
10 |
G05697271 |
100021362 |
ICICI BANK LIMITED |
07/04/2016 |
20/06/2016 |
3100000000.0 |
S 26,27,28 FIRST FLOOR,
VEERA TOWER,GREEN PARK EXTENSION,NEW DELHIDL110016IN |
FIXED ASSETS:
Tangible
Assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible
Assets
- Computer software
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 66.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.