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|
MIRA INFORM REPORT
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Report No. : |
511961 |
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Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
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Name : |
REDDY STRUCTURES PRIVATE LIMITED |
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Registered
Office : |
No. 133/1, The Residency, 2nd Floor Residency Road, Bangalore
– 560025, Karnataka |
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Tel. No.: |
91- 080-49196400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
07.11.2002 |
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Com. Reg. No.: |
08-031181 |
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Capital Investment
/ Paid-up Capital : |
INR 50.000 Million |
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CIN No.: [Company Identification
No.] |
U07010KA2002PTC031181 |
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IEC No.: [Import-Export Code No.] |
0709020651 |
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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.] |
AACCR6953L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company engaged in the business of buying, selling and development of land, Plots, and flats, construction of residential, semi commercial and commercial spaces including but not limited to apartments, row houses, villas, mixed use structures 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)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 4700000 |
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Status : |
Satisfactory |
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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 2002 having satisfactory track record. It is engaged in real estate activities. Management has failed to file its financial for the year 2017 with Registrar of Companies. For the financial year 2016, the company has reported a dip in its revenue as compared to its previous year along with low profit margin during the year. The company possesses satisfactory financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continues to derive strength from its long and established track record of its business operation backed by successful execution of the projects and extensive experience of the promoters in construction industry. However, these rating strengths gets partially offset due to non-availability of latest financial performance and other critical data including the construction progress of various projects to evaluate risk and slowdown in the infrastructure and real estate sector which may affect the growth of the company. Payments 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 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Rating (Issuer Not Cooperating)=
BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
20.02.2018 |
Reason for downgrade: Issuer Not Cooperating.
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 26.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-80-49196400 / 91-8088774400)
LOCATIONS
|
Registered Office : |
No. 133/1, The Residency, 2nd Floor Residency Road,
Bangalore – 560025, Karnataka, India |
|
Tel. No.: |
91-80-49196400 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Kumbala Praveen |
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Designation : |
Managing Director |
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Address : |
No. 293, 8th Main, 4th Phase, JP Nagar, Dollars Layout, Bangalore
- 560078, Karnataka, India |
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Date of Birth/Age : |
05.08.1974 |
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Qualification : |
B.E(Civil) |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
01257681 |
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Other Directorship:
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Name : |
Ms. Kumbala Bhagyalaxmi |
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Designation : |
Director |
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Address : |
No. 293, 8th Main, 4th Phase JP Nagar, Dollars Layout Bangalore –
560078, Karnataka, India |
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Date of Birth/Age : |
04.04.1982 |
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Qualification : |
Graduate |
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Date of Appointment : |
05.11.2014 |
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PAN No.: |
AGFPB5926B |
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DIN No.: |
01711017 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Anant Hegde |
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Designation : |
Company Secretary |
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Address : |
No. 30, Kalleshwar Hemletkonal, Ankola – 581314,
Karnataka, India |
|
Date of Appointment : |
02.11.2015 |
|
PAN No.: |
AJUPH7497P |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kumbala Praveen |
2500000 |
50.00 |
|
Kumbala Bhagyalaxmi |
2500000 |
50.00 |
|
Total |
5000000 |
100.00 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company engaged in the business of buying, selling and development of land, Plots, and Flats, construction of residential, semi commercial and commercial spaces including but not limited to apartments, row houses, villas, mixed use structures 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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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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Auditors : |
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Name : |
Sogasani and Company Chartered Accountants |
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Address : |
Flat No. 254, 5th Floor, Rajnigandha Block, Garden Apartments, Vittal Mallya Road, Bangalore - 560 001, Karnataka, India |
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PAN No.: |
ABNFS7777A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
· Mahavir Associates · Mahavir Developers and Reddy Adds · Reddy Hights LLP |
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Associates : |
· Red Coral Properties |
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Subsidiaries : |
· Reddy Homes Private Limited [CIN No U45200KA2012PTC063436] · Reddy Estates Private Limited [CIN No U45200KA2012PTC063435 · Eddy Projects and Developers Private Limited [CIN No U45200KA2012PTC063431 · Reddy Shelters Private Limited [CIN No U70100KA2012PTC063263] · Reddy Gruha Nirman Private [CIN No U45200KA2012PTC063433] · Eddy Housing Private Limited [CIN No U45200KA2012PTC064521] · Sitara Developers Private Limited [CIN No U70109KA2012PTC065353] · Reddy Media Private Limited [CIN No U22130KA2014PTC074968] · Reddy Plantations Private Limited [CIN No U01407KA2014PTC075234] · Reddy Urban Infra Private Limited [CIN No U70100KA2015PTC081287] · Reddy Avenue Private Limited [CIN No U70102KA2015PTC081282] · Reddy Dwellings Private Limited [CIN No U70109KA2015PTC081809] · Reeddy Skyscrapers Private Limited [CIN No U70100KA2015PTC082185 · Reddy Habitat Private Limited [CIN No U70100KA2015PTC082186] |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves and Surplus |
1603.981 |
1514.390 |
1356.658 |
|
(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) |
1653.981 |
1564.390 |
1406.658 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
709.659 |
105.095 |
588.511 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
91.278 |
|
(d) long-term
provisions |
9.709 |
7.371 |
5.063 |
|
Total Non-current
Liabilities (3) |
719.368 |
112.466 |
684.852 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2573.716 |
2239.681 |
0.014 |
|
(b) Trade
payables |
319.871 |
294.240 |
323.450 |
|
(c) Other
current liabilities |
399.052 |
976.507 |
2909.275 |
|
(d) Short-term
provisions |
1.372 |
47.375 |
52.878 |
|
Total Current
Liabilities (4) |
3294.011 |
3557.803 |
3285.617 |
|
|
|
|
|
|
TOTAL |
5667.360 |
5234.659 |
5377.127 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
106.938 |
135.499 |
139.778 |
|
(ii)
Intangible Assets |
2.856 |
1.988 |
3.715 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
108.689 |
111.958 |
87.488 |
|
(c) Deferred tax assets (net) |
18.435 |
6.043 |
0.703 |
|
(d)
Long-term
loans and advances |
855.789 |
881.174 |
1506.746 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1092.707 |
1136.662 |
1738.430 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1.389 |
1.389 |
18.558 |
|
(b)
Inventories |
2266.818 |
2391.223 |
2498.905 |
|
(c) Trade
receivables |
137.621 |
13.693 |
14.555 |
|
(d) Cash and
bank balances |
22.223 |
71.468 |
45.578 |
|
(e)
Short-term loans and advances |
2130.204 |
1606.925 |
1053.377 |
|
(f) Other current
assets |
16.398 |
13.299 |
7.724 |
|
Total
Current Assets |
4574.653 |
4097.997 |
3638.697 |
|
|
|
|
|
|
TOTAL |
5667.360 |
5234.659 |
5377.127 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1935.873 |
2588.423 |
2371.266 |
|
|
Other Income |
333.458 |
172.590 |
29.776 |
|
|
TOTAL |
2269.331 |
2761.013 |
2401.042 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1303.931 |
1854.842 |
736.497 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
124.405 |
107.682 |
(10.218) |
|
|
Employee benefit expense |
190.856 |
106.590 |
128.253 |
|
|
CSR expenditure |
0.192 |
1.327 |
0.000 |
|
|
Other expenses |
203.079 |
178.225 |
1129.888 |
|
|
TOTAL |
1822.463 |
2248.666 |
1984.420 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
446.868 |
512.347 |
416.622 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
316.562 |
235.393 |
169.922 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
130.306 |
276.954 |
246.700 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
32.457 |
40.419 |
19.422 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
97.849 |
236.535 |
227.278 |
|
|
|
|
|
|
|
Less |
TAX |
8.258 |
77.681 |
78.111 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
89.591 |
158.854 |
149.167 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
-
Basic |
17.92 |
31.77 |
29.83 |
|
|
-
Diluted |
17.92 |
31.77 |
29.83 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
17.800 |
13.059 |
691.070 |
|
Net cash flows from (used in) operations |
(164.851) |
(714.662) |
(9.451) |
|
Net cash flows from (used in) operating activities |
(190.740) |
(758.225) |
(9.451) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
25.95 |
1.93 |
2.24 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
14.07 |
189.03 |
162.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
89.54 |
57.90 |
160.30 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.20 |
0.21 |
0.17 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
4.07 |
3.73 |
2.90 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.71 |
0.70 |
0.85 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.00 |
1.51 |
0.91 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.99 |
2.27 |
2.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.07 |
0.09 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.41 |
2.18 |
2.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
4.63 |
6.14 |
6.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.58 |
3.03 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.42 |
10.15 |
10.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.39 |
1.15 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.70 |
0.48 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.29 |
0.30 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
66.02 |
47.16 |
25.59 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.39 |
1.15 |
1.11 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
1356.658 |
1514.390 |
1603.981 |
|
Net
worth |
1406.658 |
1564.390 |
1653.981 |
|
|
|
|
|
|
Long-term borrowings |
588.511 |
105.095 |
709.659 |
|
Short term borrowings |
0.014 |
2239.681 |
2573.716 |
|
Current maturities of
long-term debts |
691.070 |
13.059 |
17.800 |
|
Total
borrowings |
1279.595 |
2357.835 |
3301.175 |
|
Debt/Equity
ratio |
0.910 |
1.507 |
1.996 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2371.266 |
2588.423 |
1935.873 |
|
|
|
9.158 |
(25.210) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2371.266 |
2588.423 |
1935.873 |
|
Profit/ (Loss) |
149.167 |
158.854 |
89.591 |
|
|
6.29
% |
6.14
% |
4.63
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.000 |
50.000 |
|
(b) Reserves and Surplus |
|
1523.849 |
1459.035 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
1.447 |
0.076 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1573.849 |
1509.035 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1109.658 |
105.095 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
9.709 |
7.372 |
|
Total Non-current
Liabilities (3) |
|
1119.367 |
112.467 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
4490.431 |
3571.978 |
|
(b) Trade
payables |
|
572.300 |
404.008 |
|
(c) Other
current liabilities |
|
1843.820 |
1634.490 |
|
(d) Short-term
provisions |
|
77.898 |
61.940 |
|
Total Current
Liabilities (4) |
|
6984.449 |
5672.416 |
|
|
|
|
|
|
TOTAL |
|
9679.112 |
7293.993 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
131.120 |
162.048 |
|
(ii)
Intangible Assets |
|
4.411 |
3.875 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
98.155 |
101.942 |
|
(c) Deferred tax assets (net) |
|
32.230 |
10.088 |
|
(d)
Long-term
loans and advances |
|
1118.706 |
927.341 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1384.622 |
1205.294 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1.389 |
1.389 |
|
(b)
Inventories |
|
5581.336 |
4694.945 |
|
(c) Trade
receivables |
|
137.625 |
13.693 |
|
(d) Cash and
bank balances |
|
61.216 |
131.559 |
|
(e)
Short-term loans and advances |
|
2496.410 |
1233.706 |
|
(f) Other
current assets |
|
16.514 |
13.408 |
|
Total
Current Assets |
|
8294.490 |
6088.700 |
|
|
|
|
|
|
TOTAL |
|
9679.112 |
7293.993 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
3077.229 |
3976.798 |
|
|
Other Income |
|
51.524 |
25.051 |
|
|
TOTAL |
|
3128.753 |
4001.849 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(886.390) |
(509.812) |
|
|
Employee benefit expense |
|
200.189 |
165.466 |
|
|
CSR expenditure |
|
0.192 |
1.327 |
|
|
Other expenses |
|
2777.241 |
3566.678 |
|
|
TOTAL |
|
2091.232 |
3223.659 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1037.521 |
778.190 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
855.871 |
491.932 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
181.650 |
286.258 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
39.823 |
45.657 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
141.827 |
240.601 |
|
|
|
|
|
|
|
Less |
TAX |
|
75.744 |
89.065 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
66.083 |
151.536 |
|
|
|
|
|
|
|
|
Profit (Loss) of minority
interest |
|
(1.000) |
0.226 |
|
|
|
|
|
|
|
|
Total
Profit (Loss) for period |
|
65.083 |
151.762 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
-
Basic |
|
13.02 |
30.35 |
|
|
-
Diluted |
|
13.02 |
30.35 |
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 |
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
CORPORATE
INFORMATION:
Subject was incorporated as a private limited company on 07th November, 2002 vide registration number: 031181 under the provisions of Companies Act, 1956. The Company engaged in the business of buying, selling and development of land, Plots, and Flats, construction of residential, semi commercial and commercial spaces including but not limited to apartments, row houses, villas, mixed use structures etc. in Bangalore. The Registered office of the company is situated at No. 1331, The Residency, Residency Road, Bangalore 560025.
FUTURE OUTLOOK AND
STRATEGY:
Real estate industry is facing demand and supply mismatch, inventory has been accumulated due to oversupply in the market, so the company is expecting current sluggishness to continue for other one year till the time inventory backlog is absorbed. Despite downward trend in the real estate industry, there is a good absorption rate for affordable segment and below INR 10.000 million products. As the company is into affordable segment and below a crore segment, Company is expecting good absorption from its projects.
Company’s premium projects like Mahaveer Ranches, Mahaveer Palatium and Mahaveer Celesse is strategically located and rightly priced, so the Company is expecting good customer bookings in these projects. Also your Company has a cost advantage due to in-house construction, this is in turn helping the Company in flexible pricing of products.
Currently the company is going slow on land acquisitions as the Company is waiting for the real estate up turn, also the company is targeting to sell inventory in the three projects, so that we can reduce company’s debt and increase net worth of the shareholders.
Also, the company is planning to launch number of Projects in this year and efforts been made to get plan approvals at a fastest way for projects like Mahaveer Jasper, Mahaveer Turquoise, Mahaveer Hills and Mahaveer Regalia.
Company Business
Review
During Fy-2015-16 company has changed its gears and poised for the next level of growth as company has launched its ambitious projects like Mahaveer Ranches, Mahaveer Palatium and Mahaveer Celesse, all these 3 projects will add saleable area close to 5 million sq. ft. to the company, also companys top-line is expected to grow to INR 14000.000 Million from these projects.
During the year group has sold 905 units, which is 6% more than the previous year (2014-15), also revenue from new bookings stood at INR 3900.000 Million compared to last year new booking value of INR 3780.000 Million. During the year group has completed and handed over 9 projects consist of 18 lakhs of saleable area.
Company’s average borrowing cost during the year has reduced to 16.3% from 18.32% as high cost borrowings are replaced with low cost.
UNSECURED LOANS:
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
3.947 |
0.103 |
|
|
|
|
|
Total |
3.947 |
0.103 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76989623 |
100151894 |
PIRAMAL TRUSTEESHIP SERVICES PRIVATE LIMITED |
31/10/2017 |
31/10/2017 |
- |
3800000000.0 |
4TH FLOOR, PIRAMAL TOWER ANNEXE,GANPATRAO KADAM MARG, LOWER PAREL MUMBAI MA400013IN |
|
2 |
G54168745 |
100124236 |
VIJAYA BANK |
18/09/2017 |
- |
- |
47500000.0 |
2 FLOOR, JANARDHAN TOWERSRESIDENCY ROAD BENGALURU KA560025IN |
|
3 |
G26522045 |
100053491 |
UNIVERSAL TRUSTEESHIP SERVICES LIMITED |
28/09/2016 |
25/11/2016 |
- |
300000000.0 |
A-902 MARATHON FUTUREX, N. M. JOSHI MARG LOWER PAREL MUMBAI 400013. MUMBAI MA400013IN |
|
4 |
G08500779 |
100041727 |
TOYOTA FINANCIAL SERVICES INDIA LIMITED |
16/06/2016 |
- |
- |
2000000.0 |
NO. 21 CENTROPOLIS, FIRST FLOOR,5TH CROSS LANG FORD ROAD, SHANTI NAGAR BANGALORE KA560025IN |
|
5 |
G27906338 |
100030853 |
VISTRA ITCL (INDIA) LIMITED |
30/03/2016 |
10/06/2016 |
- |
1200000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EAST MUMBAI MA400051IN |
|
6 |
C77625911 |
10617153 |
IL & FS TRUST COMPANY LIMITED |
28/01/2016 |
- |
- |
740000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAI MH400051IN |
|
7 |
C77626968 |
10628430 |
IL & FS TRUST COMPANY LIMITED |
28/01/2016 |
- |
- |
120000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAI MH400051IN |
|
8 |
C76435213 |
10614463 |
BAJAJ FINANCE LIMITED |
06/01/2016 |
- |
- |
23500000.0 |
AKURDI PUNE-PUNE MH411035IN |
|
9 |
C66019159 |
10594647 |
ICICI BANK LIMITED |
19/03/2015 |
- |
- |
2580000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODA GJ390015IN |
|
10 |
C66062191 |
10594733 |
ICICI BANK LIMITED |
28/02/2015 |
- |
- |
12997484.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODA GJ390015IN |
FIXED ASSETS:
Tangible Assets
· Office building
· Factory equipments
· Furniture and fixtures
· Motor vehicles
· Office equipment
· Computer equipments
· Plantations
· Buildings
· Plant and equipment
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 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 68.26 |
|
|
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.