MIRA
INFORM REPORT
|
Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JUPITER DESTINATION MANAGEMENT COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
32/A32, Takshila, Mahakali Caves Road, Andheri [East], Mumbai –
400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
07.03.2008 |
|
|
|
|
Com. Reg. No.: |
179781 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U63040MH2008PTC179781 |
|
t |
|
|
PAN No.: [Permanent
Account No.] |
AABCJ9905H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on the business of travel agency, tour operator, seek
franchise of Indian international tour operator, to seek agency of IATA and
others, conduct package tours, ticket booking, hotel booking, arranging
corporate business conferences, events, exhibitions, meetings and incentive
movements, arrange collaborations for hotels and tourism related industry,
market holiday packages of others, appoint other travel agents and also to
act as sub agent of other tour operators or agents, principal marketing agent
of airlines, International cruise liners and hotels and resorts. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and proposes to commence travel agency
business. Proprietor seems to have good capital base. No further information or
payment could be made available. The company can be considered for business with slight caution
initially. No clean credit can be granted. |
LOCATIONS
|
Registered Office : |
32/A32, Takshila, Mahakali Caves Road, Andheri [East], Mumbai –
400093, Maharashtra, India |
|
Tel. No.: |
91-22-26839090 |
|
Mobile No.: |
91-9820424602 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
4/90, Nityanand Nagar No. 4, S. N. Road, Andheri [East], Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-22-67242500 |
|
Fax No.: |
91-22-67242599 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Murali Shridhara Kodancha |
|
Designation : |
Director |
|
Address : |
32/A32, Takshila, Mahakali Caves Road, Andheri [East], Mumbai – 400093,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1969 |
|
|
|
|
Name : |
Mrs. Komal Murlidhar Kodancha |
|
Designation : |
Director |
|
Address : |
32/A32, Takshila, Mahakali Caves Road, Andheri [East], Mumbai –
400093, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1971 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Murali Shridhara Kodancha |
|
5000 |
|
Mrs. Komal Murlidhar Kodancha |
|
5000 |
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of travel agency, tour operator, seek
franchise of Indian international tour operator, to seek agency of IATA and
others, conduct package tours, ticket booking, hotel booking, arranging corporate
business conferences, events, exhibitions, meetings and incentive movements,
arrange collaborations for hotels and tourism related industry, market
holiday packages of others, appoint other travel agents and also to act as
sub agent of other tour operators or agents, principal marketing agent of
airlines, International cruise liners and hotels and resorts. |
GENERAL
INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Auditors : |
|
|
Name : |
Y. M. Desai and Company Chartered Accountants |
|
Address : |
4/93 & 94, Nityanand Nagar Vibhag 4 Society, Swami Nityanand Marg,
Andheri [East], Mumbai – 400069 |
|
Tel. No.: |
91-22-26839090 / 26832850 / 26842142 |
|
E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
Not Available |
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
New Company
LOCAL AGENCY
FURTHER INFORMATION
Jupiter
Destination management Company Private Limited
PROJECTED
PERFORMANCE AND REPAYMENT SCHEDULE
Rs in Millions
|
Particulars |
1st
Year March
09 |
2nd
Year March
10 |
3rd
Year March
11 |
4th
Year March
12 |
|
|
|
|
|
|
|
A. INCOME |
|
|
|
|
|
Gross Receipts |
35.000 |
42.000 |
50.400 |
60.500 |
|
|
|
|
|
|
|
TOTAL |
35.000 |
42.000 |
50.400 |
60.500 |
|
|
|
|
|
|
|
B. OPERATIVE
COST |
|
|
|
|
|
Cost of Purchases |
31.850 |
37.800 |
44.856 |
53.845 |
|
Add : Opening Stock as of 01.04.2008 |
-- |
-- |
-- |
-- |
|
Less : Closing Stock |
-- |
-- |
-- |
-- |
|
TOTAL [B] |
31.850 |
37.800 |
44.856 |
53.845 |
|
|
|
|
|
|
|
C. Gross Profit
[A-B] |
3.150 |
4.200 |
5.544 |
6.655 |
|
|
|
|
|
|
|
D. % Gross
Profit |
9.00 |
10.00 |
11.00 |
11.00 |
|
|
|
|
|
|
|
E. NON OPERATIVE
COST |
|
|
|
|
|
|
|
|
|
|
|
E1. Depreciation |
0.030 |
0.026 |
0.022 |
0.018 |
|
E2.Interest –Working Capital Borrowings |
0.891 |
1.071 |
1.288 |
1.546 |
|
E3.Selling, General and Administrative Expenses |
0.227 |
0.294 |
0.353 |
0.424 |
|
|
|
|
|
|
|
Total
Non-Operative Cost |
1.148 |
1.391 |
1.662 |
1.988 |
|
|
|
|
|
|
|
F. Net Profit
Before IT [C-E] |
2.002 |
2.810 |
3.882 |
4.667 |
|
|
|
|
|
|
|
G. Income Tax @
33.99 % |
0.680 |
0.955 |
1.319 |
1.586 |
|
H. Profit after
Tax [F-G] |
1.321 |
1.855 |
2.562 |
3.081 |
|
I. Depreciation and
Pre Operative Added back |
0.030 |
0.026 |
0.022 |
0.018 |
|
|
|
|
|
|
|
J. Net Cash
Accruals [H+I] |
1.351 |
1.880 |
2.584 |
3.099 |
Jupiter
Destination management Company Private Limited
Projected Balance
Sheets
|
Assets |
1st
Year March
09 |
2nd
Year March
10 |
3rd
Year March
11 |
4th
Year March
12 |
|
|
|
|
|
|
|
Gross Block |
0.200 |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
Less : Accumulated Depreciation |
0.030 |
0.056 |
0.077 |
0.096 |
|
|
|
|
|
|
|
Net Block |
0.170 |
0.145 |
0.123 |
0.104 |
|
|
|
|
|
|
|
Sundry Debtors Three Month |
8.750 |
10.500 |
12.600 |
15.125 |
|
|
|
|
|
|
|
Closing Stock |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Cash and Bank Balance |
0.013 |
1.517 |
3.650 |
6.211 |
|
0 |
|
|
|
|
|
Total Assets |
8.933 |
12.162 |
16.373 |
21.441 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Proprietor’s Capital |
2.038 |
3.893 |
6.455 |
9.536 |
|
|
|
|
|
|
|
Sundry Creditors for Goods One Month |
1.327 |
1.575 |
1.869 |
2.244 |
|
|
|
|
|
|
|
Borrowings from bank |
5.567 |
6.694 |
8.048 |
9.661 |
|
|
|
|
|
|
|
Total
Liabilities |
8.933 |
12.163 |
16.373 |
21.441 |
Fixed Assets
- Computer
- Furniture and
Fixture
SECURED LOAN [Mr. Murali Kodancha – Director]
|
Particulars |
Rs. In Millions |
|
Bank OD A/c : |
|
|
HDFC Bank |
0.256 |
|
Karnataka Bank Limited |
0.227 |
|
Total |
0.483 |
UNSECURED LOAN [Mr. Murali Kodancha – Director]
|
Particulars |
Rs. In Millions |
|
|
|
|
N. Rao |
0.321 |
|
Foretell Enterprises |
0.325 |
|
Pranesh K G |
0.400 |
|
Komal Kodancha |
0.052 |
|
Total |
1.098 |
AUDITORS [Mr. Murali
Kodancha – Director]
1. Tejas
Sampat and Associates
Chartered
Accountants
16/A, Damle Building, Savarkar Road,
Dombivli [East], Thane, Maharashtra, India
91-9820116977
2. Harish D. Satara and
Associates
Chartered Accountants
B/101,
Vaibhav Park, Tandon Road, Dombivli [East], Thane – 421201, Maharashtra, India
95-251-2444928
/ 2433518
CAPITAL ACCOUNT [Mr. Murali
Kodancha – Director]
|
Particulars |
Rs in Millions |
Rs in Millions |
|
|
|
|
|
CREDIT SIDE : |
|
|
|
Opening Balance |
3.767 |
|
|
P & L Opening Balance |
0.000 |
|
|
LIC Survival Benefit |
0.000 |
|
|
Transfer |
0.090 |
|
|
Share Capital with Greenland |
0.060 |
|
|
Net Profit for Year |
0.747 |
|
|
|
|
4.664 |
|
LESS : DEBIT SIDE |
|
|
|
Drawings |
0.173 |
|
|
House Hold Expenses |
0.000 |
|
|
Electricity Expenses |
0.009 |
|
|
Society Maintenance |
0.010 |
|
|
Security Transaction Tax [AY 2006-07] |
0.018 |
|
|
Self Assessment Tax [AY 2006-07] |
0.161 |
|
|
LIC of India |
0.041 |
|
|
Children Education Fees |
0.030 |
|
|
Education Fees |
0.005 |
|
|
Mediclaim |
0.005 |
|
|
|
|
0.452 |
|
Closing Balance Transferred to Balance Sheet |
|
4.212 |
MR.
MURALI KODANCHA – DIRECTOR
ABRIDGED BALANCE
SHEET
[all
figures are in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
4.212 |
3.767 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.212 |
3.767 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.483 |
0.460 |
|
|
2] Unsecured Loans |
|
1.098 |
1.148 |
|
|
TOTAL BORROWING |
|
1.581 |
1.608 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.793 |
5.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.612 |
2.612 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.691 |
1.986 |
|
|
Sundry Debtors |
|
0.874 |
0.795 |
|
|
Cash & Bank Balances |
|
0.062 |
0.127 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.129 |
0.022 |
|
Total
Current Assets |
|
4.756 |
2.930 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1.575 |
0.167 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
1.575 |
0.167 |
|
|
Net Current Assets |
|
3.181 |
2.763 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.793 |
5.375 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
17.979 |
9.194 |
|
|
Other Income |
|
0.156 |
0.145 |
|
|
Total Income |
|
18.135 |
9.339 |
|
|
|
|
|
|
|
|
Net Profit |
|
0.747 |
0.734 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Stocks Sold |
|
17.006 |
8.369 |
|
|
Administrative Expenses |
|
0.382 |
0.236 |
|
Total Expenditure |
|
17.388 |
8.605 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
4.12 |
7.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.15 |
7.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.14 |
13.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.75 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.02 |
17.55 |
Fixed Assets of
Mr. Murali Kodancha
- Residential
Flat – 32A/32 [Takshila]
Statement showing Networth
of Mr. Murali Kodancha
Networth as on 31st
March, 2007
|
Particulars |
Rs in Millions |
Rs in Millions |
|
Fixed Assets |
|
|
|
Residential Flat [Market Value
Approximately] |
7.500 |
|
|
|
|
7.500 |
|
Investments |
|
|
|
Deposit with Shares Broker |
0.005 |
|
|
Greenland Vacations [India] Private Limited |
0.060 |
|
|
ICICI Limited [Tax Saving Bonds] |
0.020 |
|
|
Kishan Vikas Patra [K.V.P.] |
0.330 |
|
|
National Saving Certificate |
0.168 |
|
|
Shamrao Vithal Co-operative Bank Limited |
0.003 |
|
|
PPF [Komal Kodancha] |
0.010 |
|
|
Public Provident Fund SBI |
0.279 |
0.875 |
|
|
|
|
|
Current Assets |
|
|
|
Shares [Stock in Trade] |
3.691 |
|
|
Bank Balance |
0.033 |
|
|
Cash on Hand |
0.028 |
3.752 |
|
|
|
|
|
Total Assets Base |
|
12.127 |
|
|
|
|
|
Less : |
|
|
|
Secured Loans |
0.483 |
|
|
Unsecured Loans |
1.098 |
|
|
Current Liabilities |
0 |
|
|
Sundry Creditors for Goods |
1.575 |
3.156 |
|
|
|
|
|
Net Worth |
|
8.971 |
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.41.79 |
|
UK Pound |
1 |
Rs.81.60 |
|
Euro |
1 |
Rs.64.01 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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. |
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 |
|