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|
MIRA INFORM REPORT
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Report No. : |
509345 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TATA HOUSING DEVELOPMENT COMPANY LIMITED (w.e.f. 10.10.2007) |
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|
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|
Formerly Known
As : |
THDC LIMITED [w.e.f. 15.03.2004] TATA HOUSING DEVELOPMENT COMPANY LIMITED (w.e.f. 28.06.1984) TATA AIRCRAFT LIMITED |
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|
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Registered
Office : |
12th Floor, Times Tower, Kamala Mills Compound, Senapati Bapat
Marg, Lower Parel (West), Mumbai – 400013, Maharashtra |
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Tel. No.: |
91-22-66614444 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.03.1942 |
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Com. Reg. No.: |
11-003573 |
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Capital
Investment / Paid-up Capital : |
INR 2863.300 Million |
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CIN No.: [Company Identification
No.] |
U45300MH1942PLC003573 |
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IEC No.: [Import-Export Code No.] |
0397015488 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN No: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT0191Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The
Company is engaged in the business of development of property and related
activities. [Registered Activity] |
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No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1942. It is a subsidiary of Tata
Sons Limited. The company is engaged in the business of development of property and related
activities. As per the financial records of 2017, the company has reported a
decline in its revenue as compared to the previous year and has incurred
operational losses. The rating takes into consideration the strong financial position
marked by company’s long established track record, robust net worth base,
average debt balance sheet profile. Rating also takes consideration the strength that the company derives
from its holding company and the its experienced management team. 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 condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Loans = AA |
|
Rating Explanation |
High degree of safety and carry low credit risk |
|
Date |
02.01.2018 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Loans = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
02.01.2018 |
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 16.05.2018
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. Ravi |
|
Designation : |
Not Divulged |
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Contact No.: |
91-11-46004100 |
|
Date : |
14.05.2018 |
91-22-66614444 (Sales Department)
LOCATIONS
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Registered Office: |
12th Floor, Times Tower, Kamala Mills Compound, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-66614444 |
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Fax No.: |
91-22-66614452 |
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E-Mail : |
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Website : |
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Corporate Office: |
Trade World, B Wing, 2nd Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-66070707 |
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Fax No.: |
91-22-66070708 |
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Regional Sales Offices 1: |
3, Ground Floor, Naurang House, 21, Kasturba Gandhi Marg, New Delhi – 110001, India |
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Tel. No.: |
91-11-4600 4100 |
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Fax No.: |
91-11-4600 4111 |
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Regional Sales Offices 2 : |
Business Guild, Office no.101, First Floor, S No. 122/2, Plot No. 87/2, Law College Road, Erandwane, Pune – 411004, Maharashtra, India |
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Regional Sales
Offices 3: [Dubai
Representative Office] |
1820 Burjuman Business Tower, Burjuman, P. O. Box No. 121828, Dubai, United Arab Emirates |
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|
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Regional Sales Offices 4: |
Village Kansal, P.O. Nayagaon, District: Mohali– 160103, Punjab, India |
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Tel. No.: |
91-172-660 8888 |
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Fax No.: |
91-172-660 8800 |
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Regional Sales Offices 5: |
Eruchshaw Building, 4th Floor, 249, Dr. Dadabhoy Naoroji Road, Fort, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-66614500 |
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Fax No.: |
91-22-66614550 |
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Regional Sales Offices 6: |
"Corniche
Al-Latheef", Ground Floor – A Wing, No - 25, Cunningham Road, |
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Tel. No.: |
91-80-66478800 |
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Fax No.: |
91-80-66478822 |
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Regional Sales Offices 7: |
Plot No. IIG/1, Action Area II, New Town, Rajarhat, Kolkata – 700156, West Bengal, India |
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Tel. No.: |
91-33-66223900 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Brotin Banerjee |
|
Designation : |
Managing Director |
|
Address : |
601, Sanghi Residency, 77 Palki Galli, Opposite Twin Towers, Prabhadevi Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
13.04.1973 |
|
Qualification |
BA Honors, MA |
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Date of Appointment : |
17.04.2008 |
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DIN No.: |
01522816 |
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|
|
|
Name : |
Mr. Venkataramanan Krishnamoorthy |
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Designation : |
Director |
|
Address : |
2-D, Polaris Aquila Heights No. 27, HMT Factory Main Road, Near HMT School Peenya Planta Tion B, Bangalore – 560013, Karnataka, India |
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Date of Birth/Age : |
31.07.1961 |
|
Qualification |
Graduate |
|
Date of Appointment : |
19.09.2013 |
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DIN No.: |
01728072 |
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|
|
|
Name : |
Mr. Sanjay Ganesh Ubale |
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Designation : |
Director |
|
Address : |
Flat No.6, 2nd Floor, Ashley House, 169 - Colaba, Near Colaba Post Office, C Olaba, Mumbai – 400005, , Maharashtra, India |
|
Date of Birth/Age : |
22.08.1961 |
|
Qualification |
IAS |
|
Date of Appointment : |
06.09.2011 |
|
DIN No.: |
02040738 |
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|
|
|
Name : |
Mr. Dileep Chinubhai Choksi |
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Designation : |
Director |
|
Address : |
E/7, Sea Face Park, Bhulabhai Desai Road, Mumbai – 400026, , Maharashtra, India |
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Date of Birth/Age : |
26.12.1949 |
|
Qualification |
CA |
|
Date of Appointment : |
28.09.2015 |
|
DIN No.: |
00016322 |
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|
|
|
Name : |
Mr. Santhanakrishnan Sankaran |
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Designation : |
Director |
|
Address : |
24, Unnamalai Ammal Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
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Date of Birth/Age : |
01.01.1951 |
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Date of Appointment : |
06.09.2011 |
|
Qualification |
CA |
|
DIN No.: |
00032049 |
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|
|
|
Name : |
Ms. Sucheta Nilesh Shah |
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Designation : |
Director |
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Address : |
90 / 2, Neeta Building, 1st Floor, Marine Drive G-Road, Mumbai – 400002, , Maharashtra, India |
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Date of Birth/Age : |
31.08.1956 |
|
Qualification |
Master s in Management |
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Date of Appointment : |
28.09.2015 |
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DIN No.: |
00322403 |
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|
|
|
Name : |
Mr. Banmali Agrawala |
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Designation : |
Additional Director |
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Address : |
C-602, Palm Springs Golf Course Road, Sector 54, Gurugram -122001, Haryana,
India |
|
Date of Appointment : |
24.03.2018 |
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DIN No: |
00120029 |
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|
|
|
Name : |
Mr. Sanjay Bhupender Dutt |
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Designation : |
Managing Director |
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Address : |
Vivarea Residencies, B-1102, 11th Floor, Sane Guruji Marg, Mahalaxmi, Mumbai
-400011, Maharashtra, India |
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Date of Appointment : |
01.04.2018 |
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DIN No: |
05251670 |
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|
Name : |
Mr. Nipun Aggarwal |
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Designation : |
Additional Director |
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Address : |
Flat No 56, Central Revenue Apartment, Narayan Dabolkar Marg, Nepean
Sea Road, Malabarhi, Mumbai-400006 , Maharashtra, India |
|
Date of Appointment : |
24.03.2018 |
|
DIN No: |
08094159 |
KEY EXECUTIVES
|
Name : |
Mr. Raju Madhukar Bamane |
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Designation : |
Company Secretary |
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Address : |
2/3, Jai Maharashtra Chs, Wagale Estate, Road No. 7, Thane (West),
Thane - 400604, Maharashtra, India |
|
Date of Appointment : |
19.03.2018 |
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DIN No: |
ARBPB9766E |
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|
|
|
Name : |
Mr. Vivek Kumar Goyal |
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Designation : |
Chief Financial Officer |
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Address : |
H. No. J-1375, Palam Vihar Block J, Gurugram – 122017, Haryana, India |
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Date of Birth |
27.07.1968 |
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Qualification |
CA, CS, LLB |
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Date of Appointment : |
04.05.2015 |
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PAN No.: |
AAEPG2166M |
|
|
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|
Name : |
Bhatt and Associates LLP |
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Designation : |
Company Secretaries |
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Address : |
D/101, Lata Annexe, Behind Axis Bank, W.E. Highway, Borivali (East), Mumbai, Maharashtra, India |
MAJOR SHAREHOLDERS
AS ON 28.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Tata Sons Limited |
|
100000288 |
|
Tata Sons Limited |
|
86166668 |
|
Tata Sons Limited |
|
84166667 |
|
Tata Sons Limited |
|
11214558 |
|
Tata Sons Limited |
|
4000000 |
|
Tata Sons Limited |
|
500000 |
|
PALLONJI shapoorji Mistry |
|
288 |
|
Ratan Naval Tata |
|
71 |
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Tata Sons Limited jointly with Nikhil kumar |
|
25 |
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Tata Sons Limited jointly with K R Bhagat |
|
25 |
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Tata Sons Limited jointly with F N Subedar |
|
25 |
|
Tata Sons Limited jointly with E N Kapadia |
|
23 |
|
Fali a Poncha |
|
288 |
|
Tata Industries Limited |
|
284338 |
|
Total |
|
286333264 |
AS ON 28.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The
Company is engaged in the business of development of property and related
activities. [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 : |
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Financial Institutions: |
Axis Trustee Services Limited, Axis House, Bombay Dyeing Mills Compound, Pandhurang Budhkar Marg, Worli, Mumbai -400025, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls
Finance Centre, Tower 3, 27 - 32 Floor, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013,
Maharashtra, India |
|
PAN No.: |
AACFD4815A |
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|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company: |
Tata Sons Limited, India [CIN NO.:U99999MH1917PLC000478] |
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|
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Subsidiary
Companies: |
[CIN NO.:U45400MH1969PLC014375]
|
|
|
|
|
Fellow Subsidiary
company: |
[CIN NO.:L67200MH1937PLC002622]
[CIN NO.:L22210MH1995PLC084781]
|
CAPITAL STRUCTURE
AFTER: 28.09.2017
Authorised Capital : INR 10000.000 Million
Issued, Subscribed & Paid-up Capital : INR 4053.809
million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000000 |
Equity Shares |
INR 10/- each |
INR 3250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
286333264 |
Equity Shares |
INR 10/- each |
INR 2863.300 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 |
2863.300 |
2863.300 |
2863.300 |
|
(b) Reserves &
Surplus |
8640.000 |
9091.100 |
12157.000 |
|
(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) |
11503.300 |
11954.400 |
15020.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13503.600 |
4502.100 |
6500.000 |
|
(b) Deferred tax
liabilities (Net) |
1010.600 |
1213.100 |
2452.800 |
|
(c) Other long term
liabilities |
37.700 |
0.000 |
504.700 |
|
(d) long-term provisions |
111.300 |
78.800 |
75.300 |
|
Total Non-current
Liabilities (3) |
14663.200 |
5794.000 |
9532.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
15074.700 |
18513.900 |
10946.000 |
|
(b) Trade payables |
2562.000 |
4160.100 |
4280.400 |
|
(c) Other current
liabilities |
5322.300 |
8450.500 |
5757.900 |
|
(d) Short-term provisions |
153.400 |
132.700 |
64.100 |
|
Total Current Liabilities
(4) |
23112.400 |
31257.200 |
21048.400 |
|
|
|
|
|
|
TOTAL |
49278.900 |
49005.600 |
45601.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
79.400 |
73.300 |
69.800 |
|
(ii) Intangible Assets |
14.700 |
31.300 |
37.000 |
|
(iii) Capital work-in-progress |
19.300 |
0.100 |
4.200 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4374.800 |
4018.000 |
8315.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2657.400 |
2734.300 |
11394.500 |
|
(e) Other Non-current
assets |
1713.700 |
3159.900 |
164.000 |
|
Total Non-Current Assets |
8859.300 |
10016.900 |
19985.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.400 |
2.400 |
1.900 |
|
(b) Inventories |
22768.400 |
21165.800 |
16779.700 |
|
(c) Trade receivables |
858.300 |
1293.100 |
1076.300 |
|
(d) Cash and cash
equivalents |
138.100 |
157.700 |
112.000 |
|
(e) Short-term loans and advances |
10755.800 |
11547.100 |
2794.100 |
|
(f) Other current assets |
5896.600 |
4822.600 |
4852.500 |
|
Total Current Assets |
40419.600 |
38988.700 |
25616.500 |
|
|
|
|
|
|
TOTAL |
49278.900 |
49005.600 |
45601.500 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4268.000 |
5289.600 |
5816.500 |
|
|
Other Income |
1967.300 |
2006.400 |
1707.900 |
|
|
TOTAL |
6235.300 |
7296.000 |
7524.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3091.500 |
3344.000 |
4192.700 |
|
|
Employees
benefits expense |
661.000 |
546.700 |
569.800 |
|
|
CSR Expenditure |
0.000 |
0.000 |
34.000 |
|
|
Other expenses |
1317.900 |
780.200 |
700.600 |
|
|
Exceptional Items |
0.000 |
45.000 |
145.000 |
|
|
TOTAL |
5070.400 |
4715.900 |
5642.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1164.900 |
2580.100 |
1882.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1776.500 |
1571.500 |
1359.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(611.600) |
1008.600 |
522.600 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
42.400 |
41.900 |
54.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(654.000) |
966.700 |
468.400 |
|
|
|
|
|
|
|
Less |
TAX |
(209.400) |
340.400 |
291.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
(444.600) |
626.300 |
176.600 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
79.200 |
9.800 |
0.900 |
|
|
TOTAL EARNINGS |
79.200 |
9.800 |
0.900 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
(1.55) |
2.19 |
0.68 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1501.200 |
4500.500 |
3100.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
(922.800) |
(1580.500) |
(5796.300) |
|
Net cash flow from operating activities |
(1173.100) |
(1815.000) |
(6000.100) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
73.40 |
89.23 |
67.54 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.97 |
4.09 |
5.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
302.48 |
454.08 |
372.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.05 |
0.12 |
0.11 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
10.27 |
24.64 |
16.96 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.82 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.61 |
2.30 |
1.37 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.01 |
2.61 |
1.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.66 |
1.64 |
1.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(10.42) |
11.84 |
3.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.90) |
1.28 |
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(3.86) |
5.24 |
1.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.75 |
1.25 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.76 |
0.57 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.24 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.51 |
9.61 |
7.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.75 |
1.25 |
1.22 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2863.300 |
2863.300 |
2863.300 |
|
Reserves & Surplus |
12157.000 |
9091.100 |
8640.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15020.300 |
11954.400 |
11503.300 |
|
|
|
|
|
|
long-term borrowings |
6500.000 |
4502.100 |
13503.600 |
|
Short term borrowings |
10946.000 |
18513.900 |
15074.700 |
|
Current maturities of
long-term debts |
3100.000 |
4500.500 |
1501.200 |
|
Total
borrowings |
20546.000 |
27516.500 |
30079.500 |
|
Debt/Equity
ratio |
1.368 |
2.302 |
2.615 |
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 |
5816.500 |
5289.600 |
4268.000 |
|
|
|
(9.059) |
(19.313) |
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 |
5816.500 |
5289.600 |
4268.000 |
|
Profit /(Loss) |
176.600 |
626.300 |
(444.600) |
|
|
3.04% |
11.84% |
(10.42%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
2863.300 |
2863.300 |
|
(b) Reserves &
Surplus |
9077.700 |
9883.700 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(d) Share Application
money pending allotment |
0.000 |
0.000 |
|
(2) Minority Interest |
-4.000 |
13.700 |
|
Total Shareholders’ Funds
(1) + (2) |
11937.000 |
12760.700 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
17759.200 |
8502.100 |
|
(b) Deferred tax
liabilities (Net) |
1012.800 |
1215.500 |
|
(c) Other long term
liabilities |
37.700 |
0.000 |
|
(d) long-term provisions |
139.200 |
93.000 |
|
Total Non-current
Liabilities (3) |
18948.900 |
9810.600 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
20462.600 |
22607.600 |
|
(b) Trade payables |
4178.400 |
5135.400 |
|
(c) Other current
liabilities |
9196.800 |
10653.700 |
|
(d) Short-term provisions |
162.400 |
142.600 |
|
Total Current Liabilities
(4) |
34000.200 |
38539.300 |
|
|
|
|
|
TOTAL |
64886.100 |
61110.600 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
121.800 |
120.200 |
|
(ii) Intangible Assets |
14.700 |
31.300 |
|
(iii) Capital
work-in-progress |
20.300 |
0.100 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(v) Goodwill
Consolidation |
188.700 |
188.700 |
|
(b) Non-current
Investments |
4919.800 |
4898.700 |
|
(c) Deferred tax assets
(net) |
405.200 |
427.400 |
|
(d) Long-term Loan and
Advances |
2657.400 |
2734.300 |
|
(e) Other Non-current
assets |
2105.500 |
3507.800 |
|
Total Non-Current Assets |
10433.400 |
11908.500 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
2.400 |
2.400 |
|
(b) Inventories |
41895.300 |
37909.200 |
|
(c) Trade receivables |
1626.500 |
2096.200 |
|
(d) Cash and cash
equivalents |
1475.300 |
485.300 |
|
(e) Short-term loans and
advances |
1220.800 |
1415.300 |
|
(f) Other current assets |
8232.400 |
7293.700 |
|
Total Current Assets |
54452.700 |
49202.100 |
|
|
|
|
|
TOTAL |
64886.100 |
61110.600 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
7272.300 |
7899.000 |
|
|
Other Income |
1006.400 |
969.300 |
|
|
TOTAL |
8278.700 |
8868.300 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
5570.900 |
5640.900 |
|
|
Employees benefits
expense |
795.900 |
663.400 |
|
|
Exceptional Items |
(13.700) |
(23.400) |
|
|
Other expenses |
1285.000 |
1101.400 |
|
|
TOTAL |
7638.100 |
7382.300 |
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
640.600 |
1486.000 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1571.100 |
920.100 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(930.500) |
565.900 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
49.200 |
49.600 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(979.700) |
516.300 |
|
|
|
|
|
|
Less |
TAX |
(165.100) |
239.000 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
(814.600) |
277.300 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.78) |
0.90 |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: The registered
address of the company has been shifted from “Eruchshaw Building 249 Dr. D.N. Road
Fort, Mumbai – 400001, Maharashtra, India” w.e.f. 02.04.2010
OPERATIONS
The Standalone total revenue for the year ended on March 31, 2017 stood at INR 6235.300 Million as against INR 7296.000 Million for the previous year. The Standalone Loss before tax for the year stood at INR 654.000 Million as against the profit of INR 966.700 Million in the previous year.
BACKGROUND
The Company is a Company limited by shares, incorporated and domiciled in India. The Company has main interest in development of Real Estate, being one of the first corporate players in India. Since 1984, it has constructed various prestigious residential buildings/complexes, luxury residences, commercial complexes and integrated townships. The Company develops real estate and key activities of the Company include identification of land, project conceptualising and designing, development, management and marketing.
FUTURE PROSPECTS AND
INDUSTRY OUTLOOK
The real estate sector is one of the most globally recognized sectors. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country's Gross Domestic Product (GDP). Keeping in mind the factors like rising income level of people, people of all age group interested in Real Estate as an investment, predicted growth in the manufacturing and the service sectors, affordable housing taking pace etc., they at Tata Housing believe that the year of 2017-2018 will revive the lost confidence and have a positive impact on the business environment of Real Estate. With the lowering down of the rentals and the increased foreign investments in India, they are already witnessing a hike in the demand for residential space. With the government taking initiatives to re-build the trust in the consumers mind and ensuring that their investments are not misused, the Real Estate (Regulation & Development) Act will ensure that the developers avoid delays in the completion of the projects and may focus on the completion of the on-going projects before launching new ones.
The Company also expect to see a shift in the Real Estate sector on the backdrop of technological advancement. Technology is pushing change in space use, locations and demand levels at an accelerated pace. But it is now the norm to anticipate, strategize, and respond to new technologies before they are in mainstream. They proudly say that the company is ahead of the curve in embracing new technology.
However, with a new regulation becoming effective for the Real Estate Industry, the industry is expected to witness a consolidation phase and slowdown in the near term. Inventory overhang would continue to cast its shadow over the industry performance and would increase the cash flow pressure. While external environment may continue to be sticky, the Company has taken steps to enhance focus on optimization of resources and strengthen internal capabilities to tide over this crisis and is committed to meet and exceed the expectations of its stakeholders.
The Company has taken a leadership role and had presented policy level intervention and support required from Government’s side to promote private participation in affordable housing industry. In this connection, several presentations were made before the Ministry of Housing and Urban Development and Poverty Alleviation and at the Prime Minister’s office. The Ministry had appreciated the efforts of the Company and has also shown interest in signing the deal under the ‘Pradhan Mantri Awas Yojna’.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand from Banks |
2448.100 |
3415.800 |
|
Intercorporate deposits |
1150.000 |
1650.000 |
|
Commercial paper |
8415.500 |
5917.500 |
|
Other loans and advances |
1250.000 |
3500.000 |
|
Total |
13263.600 |
14483.300 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G39588553 |
100088934 |
AXIS TRUSTEE SERVICES LIMITED |
20/03/2017 |
- |
- |
2000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
2 |
G39591805 |
100088935 |
AXIS TRUSTEE SERVICES LIMITED |
20/03/2017 |
- |
- |
4000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
3 |
G34077412 |
100075414 |
AXIS TRUSTEE SERVICES LIMITED |
06/01/2017 |
- |
- |
2000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
4 |
G34077008 |
100075416 |
AXIS TRUSTEE SERVICES LIMITED |
06/01/2017 |
- |
- |
2000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
5 |
G04835245 |
100030264 |
IDFC BANK LIMITED |
25/05/2016 |
- |
- |
500000000.0 |
KRM Tower, 8th Floor, No. 1,Harrington Road, ChetpetChennaiTa600031IN |
|
6 |
G02099901 |
100021979 |
Deutsche Bank AG |
19/04/2016 |
- |
- |
500000000.0 |
Ground Floor, ECE House Main Building, 28,Kasturba Gandhi MargDelhiDL110001IN |
|
7 |
G03815255 |
100027720 |
AXIS TRUSTEE SERVICES LIMITED |
13/04/2016 |
- |
- |
1500000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
8 |
C71684294 |
10605241 |
HDFC BANK LIMITED |
12/10/2015 |
- |
- |
50000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
B88562541 |
10457638 |
The Hongkong and Shanghai Banking Corporation Limited |
08/10/2013 |
- |
- |
300000000.0 |
52/60, Mahatma Gandhi Road,Fort,MumbaiMH400001IN |
|
10 |
B82870056 |
10444556 |
State Bank of India |
21/08/2013 |
- |
- |
1000000000.0 |
Raheja Chambers, Free Press Journal Marg,Nariman PointMumbaiMH400021IN |
FIXED ASSETS:
Tangible Assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Computer Equipments
- Office equipment
- Leasehold improvements
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.53 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
MTN |
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.