MIRA
INFORM REPORT
|
Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
OGILVY AND MATHER PRIVATE LIMITED |
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Registered Office : |
3rd Floor, Trade Centre, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
30.03.1967 |
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Com. Reg. No.: |
11-13707 |
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CIN No.: [Company
Identification No.] |
U22210MH1967PTC013707 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO02335E |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Advertisers, Advertising Contractors and Advertising Agents. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
3rd Floor, Trade Centre, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India |
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Tel. No.: |
91-22-2491 3877/ 44360360 |
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Fax No.: |
91-22-2491 3838/ 44344370 |
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E-Mail : |
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Branches : |
Located at :- v New Delhi v Chennai v Mumbai v Karnataka v West Bengal v Koimbatore v Andhra Pradesh |
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Divisions : |
v Ogilvyone-Worldwide – Mumbai, Delhi, Chennai, Bangalore, Pune v Ogilvy Public Relations Worldwide – Mumbai - 400 013, Maharashtra New Delhi, Chennai, Bangalore, Kolkata and Hyderabad v Ogilvy & Mather – Financial & Business Communication Division – Mumbai – 400 013, Maharashtra v Ogilvy Outreach Communication Network – Mumbai – 400 013, New Delhi, Bangalore, Chennai and Kolkata v Ogilvy Live – (Promotional Campaigns) - Mumbai-400 020, New Delhi, Chennai, Bangalore and Hyderabad v Ogilvy Interactive - Mumbai-400 020, New Delhi and Bangalore v Ogilvy Healthcare - Mumbai-400 020, Delhi, Chennai, Bangalore, and Hyderabad v Ogilvy Consulting – Mumbai v The Media Network – Mumbai-400 020, Delhi, Chennai, Bangalore and Kolkata v Artistree – Ahmedabad, Gujarat |
DIRECTORS
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Name : |
Mr. Ranjan Mohan Kapur |
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Designation : |
Managing Director |
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Address : |
3, Sorrento Mount, Pleasant Road, Mumbai – 400 006, India |
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Date of Birth/Age : |
25.11.1942 |
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Date of Appointment : |
10.12.1974 |
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Date of Ceasing : |
17.03.2004 |
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Name : |
Mr. Peter Miles Young |
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Designation : |
Director |
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Address : |
21-B, Century Tower – I, Itregunter Path, Mid-Levels, Hong Kong |
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Date of Birth/Age : |
29.11.1996 |
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Date of Appointment : |
12.06.1954 |
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Name : |
Mr. Sulbhanand Nathuram Rane |
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Designation : |
Director |
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Address : |
19, Sulbha, Sector 6, Chheda Nagar, Chembur, Mumbai – 400 071, India |
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Date of Birth/Age : |
14.031950 |
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Date of Appointment : |
29.11.1996 |
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Name : |
Mr. Neil French |
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Designation : |
Director |
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Address : |
121, Emerald, Hill Road, Singapore – 0923 |
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Date of Birth/Age : |
09.09.1944 |
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Date of Appointment : |
12.10.1995 |
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Name : |
Mr. Mohan Menon |
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Designation : |
Director |
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Address : |
3 B, Polvean Place, 60 Taylors Road, Madras – 600 010,Tamilnadu, India |
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Date of Birth/Age : |
27.05.1949 |
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Date of Appointment : |
06.07.1996 |
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Date of Ceasing : |
10.04.2004 |
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Name : |
Mr. Piyush Pandey |
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Designation : |
Director |
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Address : |
2, Amrita, Little Gibbs Road, Malabar Hill, Mumbai – 400 006, India |
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Date of Birth/Age : |
05.05.1955 |
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Date of Appointment : |
06.07.1996 |
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Name : |
Mr. Steve Goldstein |
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Designation : |
Director |
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Address : |
36, Benford, Drive Princeton Junction, New Jersey 08550 |
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Date of Birth/Age : |
07.11.1954 |
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Date of Appointment : |
12.10.995 |
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Name : |
Mr. Reimer Thedens |
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Designation : |
Director |
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Address : |
Giessner, Strasse, 16 63128 Dietzenbach, Germany |
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Date of Birth/Age : |
04.11.1948 |
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Date of Appointment : |
14.01.2000 |
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Name : |
Mr. Tam Shing Chi |
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Designation : |
Director |
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Address : |
C 1, 7th Floor, Wisdon Court, No. 5, Hatton Road, Hong kong |
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Date of Birth/Age : |
28.02.1959 |
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Date of Appointment : |
25.04.2001 |
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Name : |
Mr. John Michael Goodman |
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Designation : |
Director |
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Address : |
D-6, Sea Face Park Society, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
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Date of Appointment : |
11.12.2003 |
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Name : |
Mr. Pratap Bose |
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Designation : |
Director |
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Address : |
102, Pearson Apartments, 178, 1st Nanditurya Road, Benson
Town, Post Bangalore-560046, Karnataka, India |
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Date of Birth/Age : |
28.10.1962 |
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Date of Appointment : |
28.03.2006 |
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Name : |
Mr. Madhukar Sabanvis |
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Designation : |
Additional Director |
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Address : |
401, Falcon Castle, D Wing, 4th Floor, Senapati Bapat Marg,
Mumbai-400013, Maharashtra, India |
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Date of Birth/Age : |
27.08.1962 |
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Date of Appointment : |
28.03.2006 |
KEY EXECUTIVES
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Name : |
Mr. Nilkanta Shastry Tata |
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Designation : |
Company Secretary |
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Address : |
Dheeraj Gaurav Heights, Building No.2, Flat No.1101, A Wing, Adarsh
Nagar, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
24.11.1957 |
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Date of Appointment : |
01.04.1998 |
BUSINESS DETAILS
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Line of Business : |
Advertisers, Advertising Contractors and Advertising Agents. |
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Products : |
Advertising services |
GENERAL
INFORMATION
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No. of Employees : |
About 1500 |
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Bankers : |
BNP Paribas, 62, Homji Street, Mumbai – 400 001, India (Branches At: Mumbai, Kolkata, Delhi, Chennai, Bangalore, Pune, Ahmedabad and Hyderabad) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Porus B Pardiwalla Chartered Accountants |
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Address : |
12, Dr. Annie Haskins & Sells, Opposite Shiv Sagar Estate, Worli,
Mumbai-400018, Maharashtra, India |
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Associates/Subsidiaries : |
v Super Communication Limited v Results India Communications Private Limited v Phoenix O & M (Private) Limited v Ogilvy Outreach (Private) Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
960000 |
Equity Shares |
Rs.10/- each |
Rs.9.600
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2005 |
31.12.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.600 |
9.600 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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630.632 |
581.419 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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640.232 |
591.019 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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640.232 |
591.019 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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49.081 |
28.348 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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76.123 |
78.118 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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1413.148 |
924.005 |
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Cash & Bank Balances |
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455.303 |
370.214 |
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Other Current Assets |
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7.360 |
6.726 |
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Loans & Advances |
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488.737 |
520.462 |
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Total
Current Assets |
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2364.548 |
1821.407 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1439.585 |
1006.516 |
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Provisions |
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409.935 |
330.338 |
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Total
Current Liabilities |
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1849.520 |
1336.854 |
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Net Current Assets |
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515.028 |
484.553 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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640.232 |
591.019 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.12.2005 |
31.12.2004 |
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Sales Turnover |
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1499.567 |
1425.234 |
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Other Income |
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49.617 |
27.649 |
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Total Income |
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1549.184 |
1452.883 |
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Profit/(Loss) Before Tax |
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678.876 |
556.224 |
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Provision for Taxation |
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437.811 |
353.191 |
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Profit/(Loss) After Tax |
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241.065 |
203.033 |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
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351.397 |
297.379 |
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Managerial Remuneration |
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36.108 |
39.473 |
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Payment to Auditors |
|
1.238 |
1.450 |
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Insurance Expenses |
|
1.448 |
0.893 |
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Power & Fuel |
|
16.812 |
16.622 |
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Other Expenditure |
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463.305 |
540.842 |
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Total Expenditure |
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870.308 |
896.659 |
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KEY RATIOS
|
PARTICULARS |
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|
31.12.2005 |
31.12.2004 |
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PAT / Total Income |
(%) |
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15.56 |
13.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
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43.82 |
38.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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28.12 |
30.07 |
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Return on Investment (ROI) (PBT/Networth) |
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1.06 |
0.94 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.89 |
2.26 |
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Current Ratio (Current Asset/Current Liability) |
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1.28 |
1.36 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
OGILVY BENSON
AND MATHER PRIVATE LIMITED, MUMBAI |
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Presented By |
BANQUE NATIONALE DE PARIS,
FRENCH BANK BUILDING, MUMBAI-400001 |
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1) Date and description of instrument creating the change |
Hypothecation deed of book debts dated 12.05.1986 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present and future book debts, outstanding moneys, receivable claims, contracts, order engangements and relative securities in connection with the company’s business or affairs by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the rate of 6.5% per annum over the Reserve bank of India rate with a minimum of 16.5 % per annum Margin 35% Repayable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Banque Nationale de Paris, French Bank Building, 62, Homji Street, Fort, Mumbai-400001 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
BUSINESS
Subject acts as Advertising Agency.
The company had managed to maintain their excellence in overall performance despite of few disciplines having set backs due to the vagaries of the nature and effects of the slow down of the economy. The final results show that due to the vast expense of the disciplines practised by the company it is able to withstand the fluctuation’s in business cycles.
The company grew in a manner valued and gained the following new assignments :- ANZ Investments Bank, British Counsil, Dabur CGU, Mid Day, Motorola India Limited, ITC Sports, Standard Chartered Grindlays Bank, Satyam Infoway Limited, Transwork Private Limited, Usha Margin Telecom Limited, etc.
The major customers of the company include:
¨ AASI
¨ ABC India Limited
¨ Abiz Business Private Limited
¨ Adhikari Brothers Television
¨ Alapatt Jewellery
¨ Amarraja Batteries
¨ ANZ Grindlays Bank
¨ Apollo Hospitals
¨ Arting Advertising
¨ Arivind Mills
¨ Asian Paints Limited
¨ AT&T
¨ Beauty Cosmetics/Cavincare
¨ Birla 3M
¨ BPL Limited
¨ BPL Mobile Communications
¨ Britannia Industries Limited
¨ British Airways
¨ Brooke Bond Lipton India
¨ Butterfly Appliances
¨ Calcutta Metropolitan Group
¨ Carborundum Universal Limited
The company’s fixed assets important value include building, computers, furniture & fittings, office equipments, machinery & equipments and motor vehicles.
Website Details :
At subject, they offer a convergence of accountable outdoor planning, buying and monitoring coupled with creative use of the medium.
Their services include,
v Strategic Outdoor Planning and Brand mapping
v Buying - Rate Benchmarking
v Executions – Innovations
v Monitoring - Competitive Analysis
v Dipstick Studies
v Creative Solutions
Started in 1993 with a clear intent to gain specialization in the field of outdoor advertising, Subject has over the years, grown into the single largest outdoor specialist outfit in the country, planning and buying for some of the industry's biggest clients - HLL, Hutchison Telecom, ICICI and Star TV to name a few.
Their size is their strength because it allows us to leverage the marketplace
to its optimum potential. They network with 49 dedicated outdoor professionals
across 6 main offices and 7 satellite offices in the country. With an
established partnership with over 735 concessionaires across India, they are
considered to be the first port of call in the industry.
Subject is credited with some of the most visible outdoor campaigns, panning
the length and breadth of the country & extending to the South Asian
markets of Sri Lanka & Bangladesh.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.15 |
|
UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|