|
|
|
MIRA INFORM REPORT
|
Report No. : |
508486 |
|
Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GERA DEVELOPMENTS PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
PRITA DEVELOPMENTS PRIVATE LIMITED |
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Registered
Office : |
200, Gera Plaza, Boat Club Road, Pune- 411001, Maharashtra |
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Tel. No.: |
91-20-26165581 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.10.1988 |
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Com. Reg. No.: |
11-049303 |
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Capital
Investment / Paid-up Capital : |
INR 18.400 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U70102PN1988PTC049303 |
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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.] |
AAACG6703F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of promotion, construction and development of integrated townships, residential and commercial complexes, multi-storeyed buildings, flats, houses, apartments, etc. [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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 6300000 |
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Status : |
Excellent |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1988. It is engaged
into construction activity.
|
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 |
CARE |
|
Rating |
Long Term Rating = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
25.04.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 10.05.2018
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.:91-20-26165581)
LOCATIONS
|
Registered Office : |
200, Gera Plaza, Boat Club Road, Pune- 411001, Maharashtra, India |
|
Tel. No.: |
91-20-26165581 / 66807700 |
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Fax No.: |
91-20-26163653 |
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E-Mail : |
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Website : |
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Mumbai Office: |
Regus, Plot C 59, Bandra Kurla Complex, 9th Floor, Platina, G Block, Mumbai – 400051, Maharashtra, India |
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Goa Office : |
G-18, Gera's Imperium, Patto Plaza, Behind Kadamba Bus Stand, Panjim - 403001,
Goa, India |
|
Tel. No.: |
91-832-2437123 |
|
|
|
|
Dubai Rep Office |
Office No. 1805, Burjuman Tower, 18th Floor, Sheikh Khalifa Bin Zayed Road, PO Box 121828, Dubai, UAE |
|
E-mail
: |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rohit Kumar Gera |
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|
Designation : |
Managing Director |
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Address : |
2, Right Flank Line, Near Command Hospital, Wanawadi, Pune-411040, Maharashtra,
India |
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Date of Birth/Age : |
12.02.1969 |
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Date of Appointment : |
01.04.1994 |
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PAN No.: |
AAYPG8747Q |
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DIN No. : |
00172679 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Kumar Pritamdas Gera |
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Designation : |
Managing Director |
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Address : |
Gera House, 7C, Koregaon Road, Gera Garden Koregaon Park, Pune-411001,
Maharashtra, India |
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Date of Birth/Age : |
22.04.1946 |
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Date of Appointment : |
19.10.1988 |
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PAN No. : |
AAYPG8748B |
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DIN No. : |
00172688 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Suraj G. Padhiyar |
|
Designation : |
Company Secretary |
|
Address : |
11B, Prasham Apartments, Next to B.Com. F.C.S. Lakheri Maruti Mandir, Sr. No. 58, Rasta Peth, Pune-411001, Maharashtra, India |
|
Date of Birth/Age : |
91-20-26050208 |
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Qualification : |
B.Com. F.C.S. |
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E-Mail : |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Kumar Pritamdas Gera |
94894 |
51.57 |
|
Nalini Kumar Gera |
33847 |
18.40 |
|
Rohit Kumar Gera |
41842 |
22.74 |
|
Rohena Kumar Gera |
9296 |
5.05 |
|
Sunaina Rohit Gera |
2473 |
1.34 |
|
Diya Rohit Gera |
1648 |
0.90 |
|
Total |
184000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters - Individual/Hindu Undivided Family – Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of promotion, construction and development of integrated townships, residential and commercial complexes, multi-storeyed buildings, flats, houses, apartments, etc. [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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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 : |
Note: LONG TERM BORROWINGS (A) 12.25 % Non Convertible Debentures of INR 1.000 million each (secured) - 300 redeemable at Par on September 28, 2018 INR 300.000 million 13.25 % Non Convertible Debentures of INR 1.000 million each (Secured) - 250 redeemable at Par on June 22, 2018 INR 250.000 million - 240 redeemable at Par on December 21, 2018 INR 240.000 million 13.65 % Non Convertible Debentures of INR 1.000 million each (Secured) - 250 (Previous Year: 250) redeemable at Par on April 25, 2018 INR 250.000 million. (B) 12.25 % Non Convertible Debentures of INR 1.000
million each (secured) - 300 redeemable at Par on September 28, 2017 INR
300.000 million - 300 redeemable at Par on September 28, 2018 INR 300.000
million - 13.25 % Non Convertible Debentures of INR 1.000 million each
(Secured) - 250 redeemable at Par on December 21, 2017 INR 250.000 million -
250 redeemable at Par on June 22, 2018 INR 250.000 million - 240 redeemable
at Par on December 21, 2018 INR 240.000 million - 13.65 % Non Convertible
Debentures of INR 1.000 million each (Secured) - 250 (Previous Year: 250) redeemable
at Par on April 25, 2018 Rs INR 250.000 million |
|
Financial Institution: |
Housing Development Finance Corporation Limited, HDFC
House, 1500, University Road, Shivaji Nagar, Pune-411005, Maharashtra, India |
|
|
|
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Auditors : |
|
|
Name : |
Shah Khandelwal Jain and Associates Chartered Accountants |
|
Address : |
Level 3, Riverside Business Bay, Wellesley Road, Near RTO, Pune – 411001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ADBFS9780M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Companies : |
CIN No.: U70101PN1988PTC046312
|
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|
Other related parties : |
CIN No.: U70102PN2006PTC128916
|
|
|
|
|
Enterprises in
which key management persons have significant influence and enterprises having
a common key management person: |
CIN No.: U55202MH1983PTC030731
CIN No.: U45203PN2000PTC014422
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
|
2000000 |
Equity Shares (Class A) |
INR 10/- each |
INR 20.000 Million |
|
21000000 |
Equity Shares(Class B) |
INR 10/- each |
INR 210.000 Million |
|
8000000 |
Preference Shares |
INR 10/- each |
INR 80.000 Million |
|
|
Total |
|
INR 330.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
184000 |
Equity Shares |
INR 100/- each |
INR 18.400 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 |
18.400 |
18.400 |
18.400 |
|
(b) Reserves and Surplus |
2182.592 |
1550.337 |
1199.691 |
|
(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) |
2200.992 |
1568.737 |
1218.091 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2693.110 |
2781.015 |
610.521 |
|
(b) Deferred tax liabilities (Net) |
1.883 |
9.594 |
0.000 |
|
(c) Other long-term
liabilities |
413.988 |
337.213 |
3.535 |
|
(d) long-term
provisions |
86.233 |
24.284 |
21.416 |
|
Total Non-current
Liabilities (3) |
3195.214 |
3152.106 |
635.472 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
59.760 |
93.608 |
95.236 |
|
(b) Trade
payables |
114.681 |
59.013 |
55.072 |
|
(c) Other
current liabilities |
2339.872 |
1710.649 |
1205.005 |
|
(d) Short-term
provisions |
175.451 |
230.789 |
36.968 |
|
Total Current
Liabilities (4) |
2689.764 |
2094.059 |
1392.281 |
|
|
|
|
|
|
TOTAL |
8085.970 |
6814.902 |
3245.844 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
146.864 |
153.284 |
48.626 |
|
(ii)
Intangible Assets |
140.567 |
189.979 |
2.189 |
|
(iii) Tangible assets
capital work-in-progress |
7.689 |
0.000 |
7.128 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1311.939 |
755.516 |
762.270 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
6.681 |
|
(d)
Long-term loans and advances |
58.031 |
98.295 |
146.492 |
|
(e) Other
Non-current assets |
165.155 |
148.673 |
33.067 |
|
Total Non-Current
Assets |
1830.245 |
1345.747 |
1006.453 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4193.760 |
4794.332 |
2008.777 |
|
(c) Trade
receivables |
383.473 |
84.249 |
101.569 |
|
(d) Cash and
bank balances |
826.626 |
267.671 |
23.777 |
|
(e)
Short-term loans and advances |
292.937 |
299.146 |
46.280 |
|
(f) Other
current assets |
558.929 |
23.757 |
58.988 |
|
Total
Current Assets |
6255.725 |
5469.155 |
2239.391 |
|
|
|
|
|
|
TOTAL |
8085.970 |
6814.902 |
3245.844 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
3564.570 |
1992.991 |
591.337 |
|
|
Other Income |
25.839 |
36.718 |
47.545 |
|
|
TOTAL |
3590.409 |
2029.709 |
638.882 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1637.414 |
2390.282 |
649.529 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
600.572 |
(1115.671) |
(300.253) |
|
|
Employee benefit expense |
67.152 |
53.708 |
47.507 |
|
|
CSR expenditure |
3.122 |
0.349 |
0.000 |
|
|
Other expenses |
191.658 |
90.936 |
91.334 |
|
|
TOTAL |
2499.918 |
1419.604 |
488.117 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1090.491 |
610.105 |
150.765 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
53.817 |
32.699 |
1.941 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1036.674 |
577.406 |
148.824 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
71.136 |
26.060 |
11.323 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
965.538 |
551.346 |
137.501 |
|
|
|
|
|
|
|
Less |
TAX |
333.284 |
200.700 |
33.996 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
632.254 |
350.646 |
103.505 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3436.16 |
1905.69 |
562.53 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
620.725 |
171.842 |
369.226 |
|
Net cash flows from (used in) operations |
1090.847 |
(1128.390) |
108.762 |
|
Net cash flows from (used in) operating activities |
870.843 |
(1293.798) |
94.215 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
39.27 |
15.43 |
62.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
9.30 |
23.66 |
5.82 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
25.56 |
9.01 |
30.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.26 |
0.13 |
0.08 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
3.70 |
1.78 |
2.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.74 |
0.74 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.53 |
1.94 |
0.88 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.22 |
1.33 |
1.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.13 |
0.22 |
0.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
20.26 |
18.66 |
77.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
17.74 |
17.59 |
17.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.82 |
5.15 |
3.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
28.73 |
22.35 |
8.50 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
2.33 |
2.61 |
1.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.77 |
0.32 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.23 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
183.35 |
165.57 |
58.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.33 |
2.61 |
1.61 |
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 |
18.400 |
18.400 |
18.400 |
|
Reserves & Surplus |
1199.691 |
1550.337 |
2182.592 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1218.091 |
1568.737 |
2200.992 |
|
|
|
|
|
|
Long-term borrowings |
610.521 |
2781.015 |
2693.110 |
|
Short term borrowings |
95.236 |
93.608 |
59.760 |
|
Current maturities of
long-term debts |
369.226 |
171.842 |
620.725 |
|
Total
borrowings |
1074.983 |
3046.465 |
3373.595 |
|
Debt/Equity
ratio |
0.883 |
1.942 |
1.533 |
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 |
591.337 |
1992.991 |
3564.570 |
|
|
|
237.031 |
78.855 |
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 |
591.337 |
1992.991 |
3564.570 |
|
Profit/ (Loss) |
103.505 |
350.646 |
632.254 |
|
|
17.50% |
17.59% |
17.74% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF
FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
18.400 |
18.400 |
|
(b) Reserves and Surplus |
|
2298.513 |
1683.701 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
187.374 |
112.391 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2316.913 |
1702.101 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2843.110 |
2934.973 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
6.477 |
|
(c) Other long-term
liabilities |
|
414.432 |
340.507 |
|
(d) long-term
provisions |
|
35.507 |
26.871 |
|
Total Non-current
Liabilities (3) |
|
3293.049 |
3308.828 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
58.688 |
57.983 |
|
(b) Trade
payables |
|
120.675 |
73.494 |
|
(c) Other
current liabilities |
|
2415.035 |
1795.658 |
|
(d) Short-term
provisions |
|
189.064 |
240.417 |
|
Total Current
Liabilities (4) |
|
2783.462 |
2167.552 |
|
|
|
|
|
|
TOTAL |
|
8580.798 |
7290.872 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
265.672 |
154.527 |
|
(ii)
Intangible Assets |
|
140.727 |
190.139 |
|
(iii) Tangible assets
capital work-in-progress |
|
10.129 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
186.242 |
73.258 |
|
(c) Deferred tax assets (net) |
|
13.125 |
0.000 |
|
(d)
Long-term loans and advances |
|
554.219 |
613.334 |
|
(e) Other
Non-current assets |
|
157.358 |
148.674 |
|
Total Non-Current
Assets |
|
1327.472 |
1179.932 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
64.835 |
0.000 |
|
(b)
Inventories |
|
5002.909 |
5330.638 |
|
(c) Trade receivables |
|
383.484 |
90.143 |
|
(d) Cash and
bank balances |
|
833.285 |
284.913 |
|
(e)
Short-term loans and advances |
|
385.354 |
303.847 |
|
(f) Other
current assets |
|
583.459 |
101.399 |
|
Total
Current Assets |
|
7253.326 |
6110.940 |
|
|
|
|
|
|
TOTAL |
|
8580.798 |
7290.872 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
3592.788 |
2628.360 |
|
|
Other Income |
|
31.142 |
68.365 |
|
|
TOTAL |
|
3623.930 |
2696.725 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1914.715 |
2860.581 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
327.729 |
(1119.645) |
|
|
Employee benefit expense |
|
80.529 |
53.709 |
|
|
CSR expenditure |
|
3.121 |
0.349 |
|
|
Other expenses |
|
201.277 |
149.027 |
|
|
TOTAL |
|
2527.371 |
1944.021 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
1096.559 |
752.704 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
72.731 |
32.867 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1023.828 |
719.837 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
71.694 |
27.177 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
952.134 |
692.660 |
|
|
|
|
|
|
|
Less |
TAX |
|
324.357 |
203.358 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
627.777 |
489.302 |
|
|
|
|
|
|
|
Less |
Minority interest |
|
6.368 |
73.039 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
621.409 |
416.263 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
3377.22 |
2262.30 |
LEGAL
CASE
|
Case Details Bench:-Bombay
|
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|
Case Details Bench:-Bombay
|
||||||||||||||||||||||||||||||||||||||||
|
Case Details Bench:-Bombay
|
|||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is registered under the Companies Act, 1956 (CIN: U70102PN1988PTC049303). It was incorporated on 19th October, 1988. The Company is engaged in the business of promotion, construction and development of integrated townships, residential and commercial complexes, multi-storeyed buildings, flats, houses, apartments, etc.
NATURE OF BUSINESS:
The Company is engaged in the activities of real estate development specially development of residential, commercial office space and retail.
The Company has enhanced its Credit Rating from INR 4850.000 million (A+) to INR 6398.500 million (A+) by CARE which is one of the leading and most trusted credit rating agency in the Country in the Real Estate sector. Across the A series categories, the company has the unique distinction of being the only real estate brand in the country whose quantum has increased with significant 33% while retaining its rating of an A+.
Over the decades, the industry, customers needs, products, specifications, amenities, laws etc. have all changed. The one constant, has been their commitment, to earning the trust of their partners, customers, employees, contractors, vendors, consultants and all stake holders. As they reflected on their delivery of the past, the continuous improvement was captured in one word, OUTDO.
THE STATE OF COMPANY
AFFAIRS:
During the year, the total revenue stood at INR 3590.400 million as compared to INR 2029.700 million for the previous year, representing an increase of 76.89%; profit before tax stood at INR 965.500 million for the year as compared to INR 551.300 million for the previous year, representing an increase of 75.13%; profit after tax stood at INR 632.300 million as compared to INR 350.600 million for the previous year, representing an increase of 80.34%.
The volatility in the business environment in real estate sector was a factor the company had sustained in this financial year. Despite the challenges and uncertainty, the Company has managed to sustain its growth in terms of revenue.
The Company has made significant movement as per the industry standards in placing its operating manuals which resulted significant improvement in process compliance and operational efficiency. The focus was on greater operational efficiency, increase in productivity and profitability.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
59.760 |
93.608 |
|
Total |
59.760 |
93.608 |
INDEX OF CHARGE:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G32385338 |
100065595 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
12/09/2016 |
19/10/2016 |
- |
500000000.0 |
HDFC HOUSE, 1500, UNIVERSITY ROAD, SHIVAJI NAGARPUNEMH411005IN |
|
2 |
G32385593 |
100065596 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
12/09/2016 |
19/10/2016 |
- |
750000000.0 |
HDFC HOUSE, 1500, UNIVERSITY ROAD, SHIVAJI NAGARPUNEMH411005IN |
|
3 |
C77028637 |
10616857 |
Housing Development Finance Corporation Limited |
17/12/2015 |
- |
- |
800000000.0 |
HDFC HOUSE, 1500 SHIVAJI NAGARUNIVERSITY ROADPUNEMH411005IN |
|
4 |
G08221301 |
10602917 |
IFCI LIMITED |
15/10/2015 |
08/07/2016 |
- |
1000000000.0 |
IFCI TOWER, 61, NEHRU PLACENEW DELHIDL110019IN |
|
5 |
C65513764 |
10594134 |
IL & FS TRUST COMPANY LIMITED |
01/09/2015 |
- |
- |
600000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMH400051IN |
|
6 |
C59072116 |
10582627 |
IL & FS TRUST COMPANY LIMITED |
20/06/2015 |
- |
- |
740000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMH400051IN |
|
7 |
C41484197 |
10547828 |
IL & FS TRUST COMPANY LIMITED |
30/12/2014 |
- |
- |
250000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMH400051IN |
|
8 |
A77650448 |
10197994 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
21/12/2009 |
- |
- |
200000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
|
9 |
A32861684 |
10088564 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
03/01/2008 |
- |
- |
350000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
|
10 |
G41066267 |
10495046 |
Housing Development Finance Corporation Limited |
14/04/2014 |
- |
29/03/2017 |
150000000.0 |
HDFC HOUSE, 1500 SHIVAJINAGARUNIVERSITY ROADPUNEMH411005IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank Guarantee |
50.575 |
48.000 |
|
Total |
50.575 |
48.000 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Computer
- Office equipment
- Vehicles
Intangible Asset:
- Goodwill
- 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 67.38 |
|
|
1 |
INR 91.09 |
|
Euro |
1 |
INR 79.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.