MIRA
INFORM REPORT
|
Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KINGFISHER
AIRLINES LIMITED |
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Registered
Office : |
“UB Anchorage”, 5th Floor, 100/1, Richmond Road, Bangalore
– 560 025, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
26.07.2004 |
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CIN No.: |
U62100KA2004PLC034399 |
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Com. Reg. No.: |
08-34399 |
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TAN No.: (Tax Deduction
& Collection Account No.) |
MUMK14346D /
BLRK04894B |
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PAN No.: (Permanent
Account No.) |
AACCK3949H |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of
Business : |
Engaged in as Airline Operators, Promoted by UB Group. |
RATING &
COMMENTS
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MIRA’s Rating
: |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
No Experience |
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Litigation : |
Clear |
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Comments : |
Subject is a new company of UB Group,
Chaired by Dr. Vijay Mallya, well known industrialist and member of
Parliament. Trade relations are fair. No payment are
available. However, the company can be considered normal
for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
“UB Anchorage”, 5th Floor, 100/1, Richmond Road, Bangalore
– 560 025, Karnataka, India |
|
Tel. No.: |
91-80-30510600, 22272806-7 / 22274097 |
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Fax No.: |
91-80-22274890 / 22272973 |
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E-Mail : |
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Website : |
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Administrative
Office: |
UB Tower, level 12, UB City , 24 Vittal Mallya Road, Bangalore – 560
001, Karnataka, India |
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Tel No.: |
91-80-22272808 / 22275809 |
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Fax No.; |
91-80-22274890 |
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E-mail: |
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Corporate
Office : |
Kingfisher House, Western Express Highway. Vile Parle (E) Mumbai
400057, Maharashtra, India |
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Tel. No.: |
91-22 2626 2200 |
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Fax No.: |
91-22 5502 0625 |
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Head Office : |
G 5-A, Kilfire House, Ground Floor, Dalia Industrial Estate, Near Fun
Republic, Andheri New Link Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
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Tel. No.: |
91-22-26730216, 26720209 |
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Fax No.: |
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Branches : |
Mumbai Airport
Office S.O.C.C, Terminal
1 A , Arrival Hall, 1st Floor, Domestic Airport Santa Cruz (W), Mumbai,
Maharashtra, India Delhi Office: UB Group, UB House,
F 44 A, South Extension – I, New Delhi – 110049 , India Delhi Flight
Operations Office VIII/2, Mehram
Nagar, Near Airport Hotel, Opp Domestic Airport, Delhi-110037, India Bangalore Airport H.A.L. Airport,
Vimapura Post, Bangalore 560017, Karnataka, India Goa Airport Dabolim Airport,
Goa 403 801 |
DIRECTORS
|
Name : |
Dr. Vijay Mallya |
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Designation : |
Director |
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Address : |
3, Vittal Mallya
Road, Bangalore-560001, Karnataka, India
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Date of
Birth/Age : |
18/12/1955 |
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Date of
Appointment : |
26/07/2004 |
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E-mail; |
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Name : |
Mr. Rup Narayan Pillai (Aka : Mr. R. N. Pillai) |
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Designation : |
Director in Charge |
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Address : |
No 17 first
Block, First Main, Koramangala, Bangalore-560034, Karnataka, India |
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Date of
Birth/Age : |
14/09/1950 |
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Date of
Appointment : |
26/07/2004 |
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E-mail: |
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Name : |
Mr. Subhash Raghunath Gupthe |
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Designation : |
Director |
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Address : |
Sarojini 4th
Floor, 4 Golflinks Khar, Mumbai, Maharashtra-400052, India |
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Date of
Birth/Age : |
06/03/1939 |
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Date of
Appointment : |
26/07/2004 |
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E-mail: |
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Name : |
Mr. A. K. Ravi Nedungadi |
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Designation : |
Director |
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Address : |
No 103, Dephi III,
Prestige Acropolis, Hosur Road, Bangalore, Karnataka-560020, India |
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Date of
Birth/Age : |
26/10/1957 |
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Date of
Appointment : |
26/07/2004 |
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E-mail; |
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Name : |
Mr. Vispi Damania |
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Designation : |
Chief Executive |
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Name : |
Mr. Alex Wilcox |
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Designation : |
Chief Operating Officer |
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Name : |
Mr V K Rekhi |
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Designation : |
Director |
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Address : |
Camelot Apartment
203, Kensington Road, Ulsoor, Bangalore- 560042, Karnataka, India |
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Date of
Birth/Age : |
14/09/1945 |
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Date of
Appointment : |
21/01/2005 |
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E-mail: |
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Name : |
Mr. Mahesh Nedungadi |
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Designation : |
Director |
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Address : |
No 486, 10th
Cross 27th Main, Sector 1, HSR Layout, Bangalore- 560034,
Karnataka, India |
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Date of
Birth/Age : |
06/04/1960 |
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Date of
Appointment : |
28/07/2004 |
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Name : |
Mr. Bharath
Raghavan |
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Designation : |
Director |
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Address : |
19 A, Jeevan
Co-op Housing Society, 57 D, Dr. Ambedkar Road, Pali Hill, Bandra (West),
Mumbai -400 050, Maharashtra, India |
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Date of
Birth/Age : |
15.08.1964 |
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Date of
Appointment : |
14.12.2006 |
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E-mail: |
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Tel No.: |
91-22-26262313 |
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Name : |
Mr. Piyush G
Mankad |
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Designation : |
Director |
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Address : |
C -11/95, Moti
Bagh, New Delhi – 110 021, India |
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Date of
Birth/Age : |
18.11.1941 |
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Date of
Appointment : |
31.01.2006 |
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E-mail: |
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Name : |
Mr. Diwan Arun
Nanda |
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Designation : |
Director |
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Address : |
Row house No. 11,
Grand Paradi, 572 Dady Seth hill , august Kranti Marg, Mumbai – 400 036,
Maharashtra, India |
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Date of
Birth/Age : |
20.08.1943 |
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Date of
Appointment : |
14.06.2006 |
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E-mail: |
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Name : |
Mr. Naresh Kumar
Trehan |
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Designation : |
Director |
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Address : |
B -4, Maharani
Bagh, New Delhi – 110 065, India |
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Date of
Birth/Age : |
12.08.1946 |
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Date of
Appointment : |
14.06.2006 |
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E-mail: |
MAJOR SHAREHOLDERS
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Names
of Shareholders (as on 31.03.2005) |
No. of Shares |
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UB General Investments Limited |
29999994 |
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UB General Investments Limited and PA Murali |
1 |
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UB General Investments Limited and Mr. S Ramanujam |
1 |
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UB General Investments Limited and Mr. Rupnarayaa Pillai |
1 |
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UB General Investments Limited and Mr. S. N. Prasad |
1 |
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UB General Investments Limited and Mr. V. S. Venkataraman |
1 |
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UB General Investments Limited and Mr. A Harish Bhat |
1 |
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Mr. S Ramanujam |
1 |
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Mr. A Harish Bhat |
1 |
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Equity Share Break Up (as on 31.03.2007) |
Percentage |
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Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial
institutions , non residents or Overseas corporate bodies or others |
6.59 |
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Bodies corporate |
80.66 |
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Directors or relative of directors |
12.75 |
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Total |
100.00 |
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BUSINESS DETAILS
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Line of
Business : |
Engaged in as Airline Operators, promoted by UB Group. |
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Imports from : |
USA, France and Europe. |
GENERAL
INFORMATION
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Suppliers : |
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Bankers : |
· UTI Bank Limited, Nariman point, Mumbai-400021, Maharashtra, India · Oriental Bank of Commerce, MG Road Branch, Bangalore – 560 001, Karnataka, India |
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Facilities : |
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Banking Relations : |
---- |
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Financial Institutions:
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· Balfour Aviation Limited Address: 2 Harbour Master Place, IFSC
Dublin 1, Ireland, Dublin , IE · SREI Infrastructure Finance Limited Address: Vishwakarma, 86/C, Topisa Road (South), Kolkata- 700046, West
Bengal, India |
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Auditors : |
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Name 1: |
Mr. S. Vishnu Murthy Chartered Accountants |
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Name 2: |
Price Waterhouse Chartered
Accountants |
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Address: |
252, 2nd
Floor, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028,
Maharashtra, India |
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Holding
Company: |
United Breweries
(Holdings) Limited (CIN :
L85110KA1915PLC000740) |
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Associates/Subsidiaries
: |
UB Group of Companies |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
425000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 4250.000 millions |
|
72500000 |
Preference Shares |
Rs. 100/- Each |
Rs. 7250.000 millions |
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Total |
Rs.
11500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
357009100 |
Equity shares |
Rs. 10/- each |
Rs. 3570.091 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS
FUNDS |
|
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|
1] Share Capital |
3570.091 |
3388.391 |
300.000 |
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2] Share
Application Money |
500.000 |
0.000 |
1249.500 |
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3] Reserves &
Surplus |
333.400 |
0.000 |
0.000 |
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4] (Accumulated
Losses) |
[8260.423] |
[2487.294] |
[91.435] |
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NETWORTH
|
[3856.932] |
901.097 |
1458.065 |
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LOAN FUNDS |
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1] Secured Loans |
15753.392 |
3770.644 |
504.244 |
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2] Unsecured
Loans |
7846.921 |
2293.894 |
0.000 |
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TOTAL BORROWING
|
23600.313 |
6064.538 |
504.244 |
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DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL
|
19743.381 |
6965.635 |
1962.309 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
11760.524 |
348.944 |
13.298 |
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Capital work-in-progress |
8529.217 |
6988.973 |
0.000 |
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Advance for capital assets
|
0.000 |
0.000 |
1570.596 |
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Amount pending capitalization
|
0.000 |
0.000 |
31.413 |
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INVESTMENT
|
0.000 |
0.000 |
51.382 |
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DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
|
|
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Inventories
|
248.064
|
90.310 |
0.000 |
|
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Sundry Debtors
|
752.876
|
395.320 |
0.000 |
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Cash & Bank Balances
|
261.418
|
116.121 |
103.829 |
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Other Current Assets
|
5.487
|
2.556 |
6.238 |
|
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Loans & Advances
|
2870.116
|
970.974 |
202.033 |
Total Current Assets
|
4137.961
|
1575.281 |
312.100 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
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Current Liabilities
|
4909.508
|
1974.383 |
16.480 |
|
|
Provisions
|
91.213
|
133.222 |
|
Total Current Liabilities
|
5000.721
|
2107.605 |
16.480 |
|
Net Current Assets
|
[862.760]
|
[532.324] |
295.620 |
|
|
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MISCELLANEOUS EXPENSES
|
316.400 |
160.042 |
0.000 |
|
|
|
|
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|
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TOTAL
|
19743.381 |
6965.635 |
1962.309 |
|
PROFIT &
LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
13828.014 |
4363.558 |
5.207 |
|
|
Other Income |
1701.476 |
18.366 |
0.000 |
|
|
Total Income |
15529.490 |
4381.924 |
5.207 |
|
|
|
|
|
|
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|
Profit/(Loss) Before Tax |
[5757.929] |
[3500.789] |
[142.816] |
|
|
Provision for Taxation |
15.200 |
0.000 |
51.381 |
|
|
Profit/(Loss) After Tax |
[5773.129] |
[3500.789] |
[91.435] |
|
|
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|
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Expenditures : |
|
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
1663.840 |
709.178 |
|
|
|
Payment to Auditors |
4.062 |
4.000 |
|
|
|
Interest |
872.179 |
167.914 |
|
|
|
Insurance Expenses |
253.346 |
0.000 |
148.023 |
|
|
Power & Fuel |
7079.617 |
2361.976 |
|
|
|
Depreciation & Amortization |
490.046 |
36.235 |
|
|
|
Other Expenditure |
10924.329 |
4603.410 |
|
|
Total Expenditure |
21287.419 |
7882.713 |
148.023 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
[37.17]
|
[79.89] |
[1756.00] |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
[41.63]
|
[80.22] |
[2742.76] |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
[23.57]
|
[39.28] |
[7.22] |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
1.49
|
[3.89] |
[0.098] |
|
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|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
7.42
|
9.07 |
0.36 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
0.83
|
0.75 |
18.94 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U62100KA2004PTC034399 |
|
Name of the company |
KINGFISHER
AIRLINES LIMITED |
|
Address |
“UB Anchorage”, 5th Floor, 100/1, Richmond Road, Bangalore
– 560 025, Karnataka, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder
|
Balfour Aviation Limited Address: 2 Harbour Master Place, IFSC Dublin 1, Ireland, Dublin , IE E-mail: lotan@oferb.co.il |
|
Nature or description of the instrument creating charge |
Deed of hypothecation of insurance and requisition compensation |
|
Date of the instrument creating charge |
28.06.2006 |
|
Amount Secure by the charge |
Rs. 2183.899 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
The charge operates as a continuing charge to secure the due payment
to the charge holder by the company of
all its outstanding obligations. Including the amount set out in field and the due punctual performance
by the company of all terms, covenants and conditions of the operative
documents for and continuing until,
the payment, satisfaction and discharge in full of all the outstanding
obligations. |
|
Short particulars of the Property charged |
All of the rights, title and Interest, present and future of the
company to and in respect of the insurance and the requisition
compensation pertaining to one airbus
A 319-100 aircraft bearing manufacturers serial Number 2634. |
|
Name of the
company |
Kingfisher
Airlines Limited |
|
Presented By |
Mr. R N Pillan , Director |
|
1) Date and
description of instrument creating the change |
Deed of Hypothecation
dated 28th December, 2005 Agreement No LOQ
258 dated 28th December, 2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 22.172
millions |
|
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 |
3 Nos 2nd
Hand Tata 1610 Resls E2 Tarmac Coach. 5 Nos Tata 1610
Reels E2, Tarmac Coach. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Amount republic
in 35 nos installment of Rs. 712380/-
each p.m. interest charge as per the rate at bank as agreed. |
|
5) Name and
Address and description of the person entitled to the charge. |
SREI Infrastructure
Finance Limited Vishwakarma 86/C, Topisa Road
(South) Kolkata- 700046 |
|
6) Date and brief description of instrument
modifying the charge |
Not Available |
|
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. |
Not Available |
Fixed Assets :
Ø
Office
equipments
Ø
Computer and
accessories
Ø
Vehicles
Ø
Furniture and
Fixture
OTHER DETAILS:
Holding Company :
Consequent to the
allotment of shares to UB General Investment Limited, which in turn is a wholly
owned subsidiary of United Breweries (Holding) Limited, the company is an
unlimited subsidiary of United Breweries (Holding) limited, the holding company
of the UB Group.
WEBSITE
DETAILS:
Archives
· Kingfisher Airlines ready to bring home its first ATR72-500 Aircraft
· Kingfisher Airlines wins yet another international award at ITB Berlin, the world's largest travel industry platform
· Kingfisher Airlines wins the 2006 Skytrax Award for "Service Excellence for a New Airline"
· Kingfisher Airlines amongst Successful brands of the Year 2005
· Direct Daily flights between Mumbai and Mangalore
· Best New Airline of the Year 2005- Kingfisher Airlines Announces New Routes
· Best New Airline of the Year and India's 3rd Most Successful Brand launched in 2005, announces "Scent of Good Times" Offer
· Kingfisher Airlines wins the CAPA award for “Best New Airline Of The Year” in Asia Pacific & Middle East
· Kingfisher Airlines orders 20 new ATR72-500 Aircraft worth US$350 Million
· Kingfisher Airlines orders 30 new Airbus A320 family jets worth US$1.9 Billion
· Kingfisher Airlines strengthens Executive Management team
· Kingfisher Airlines purchases three new Airbus A319s to be based at Bangalore
· Kingfisher Airlines takes delivery of its first brand new Airbus A320 aircraft
· Kingfisher Airlines Limited appoints an Advisory Board
21st, Apr 2008
Kingfisher Airlines Launches Flights from Chennai to Tiruchirapalli
Chennai, April 21, 2008—Kingfisher Airlines, India`s first and only
5-Star airline, today commenced operations in the historic city of
Tiruchirapalli with the introduction of a daily direct flight from Chennai.
The first flight of Kingfisher Airlines IT2912 operating from Tiruchirapalli
airport to Chennai was flagged off by Mr. Tiruchi Shiva, M.P. who was present
on the occasion as Chief Guest.
Commenting on the launch of flights to Tiruchirapalli, Dr. Vijay Mallya, Chairman and CEO, Kingfisher
Airlines Limited said, Kingfisher Airlines has redefined the
whole experience of flying and has come to be regarded as an airline that sets
new benchmarks in service excellence for the industry. Through the launch of
these new routes, Kingfisher Airlines reaffirms its commitment towards
addressing the needs of its guests by providing connectivity between important
business and leisure destinations in India. Besides corporate flyers, we expect
our flights into and out of Tiruchirapalli to cater to tourists too especially
since the city is a very popular destination with pilgrims from all faiths.
Commenting on the launch of these new sectors Mr. Siva Ramachandran, Vice President Global Sales,
Kingfisher Airlines Limited said, ~The launch of flights to
Tiruchirapalli will boost and improve connectivity to main cities like New
Delhi, Mumbai and Hyderabad both for inbound and outbound traffic. Besides, our
new flights will also cater to the feeder markets of Kumbakonam, Thanjavur ,
Karur , Shivaganga and the costal belt of Cuddalore and Nagapatinam. The
historical city of Tiruchirapalli is home to many historic temples, monuments,
churches and mosques. Every year thousands of pilgrims and tourists throng to
historic monuments and popular destinations in the outlying regions of
Tiruchirapalli. Besides the leisure and pilgrim segments, our flights will also
cater to the industrial houses based in this region and the business and
trading community alike~.
The launch of services to Tiruchirapalli marks the launch of operations
for Kingfisher Airlines in Tiruchirapalli. The flights on these new
routes are being operated using brand new ATR aircraft featuring
personalized in-flight entertainment on every seat, gourmet cuisine and world
class service.
With the launch of these new services, Kingfisher Airlines now has 254
departures a day and flies to 40 destinations with a fleet of 42 brand new
aircraft.
Kingfisher Airlines has recently been conferred the `5 - Star Airline Status`,
the most recognized and prestigious award that honours airline Product and
Service Quality Excellence, by Skytrax, the world`s leading, independent travel
forum and air travel information organization.
The Skytrax survey is an independent survey conducted without any
influence or communication to the airlines and is recognized as one of the most
reliable ranking systems for airlines across the world. The survey is conducted
amongst all certified airlines in the world irrespective of size or nationality
and every airline is ranked on the basis of the ~delivered~ front-line Product
and Service quality - with Star Ranking levels representing ~international~
product and service standards. Star Ratings reflect the reality of delivered
product and service supplied to customers.
Ever since its launch in May 2005, Kingfisher Airlines has blazed a
trail of innovations and introduced a range of market-firsts that have
completely redefined the whole experience of flying. By elevating its customers
to a level of being `guests` and not just passengers, Kingfisher Airlines has
endeared itself to consumers.
About Kingfisher Airlines
Kingfisher Airlines is India`s first and only 5-Star airline and the
only one to offer a premium first class service on domestic routes. Besides
being the first and the only airline to offer in-flight entertainment on every
seat in the domestic skies, Kingfisher Airlines is the only one to offer LIVE
TV with 16 channels of live & exciting content. Kingfisher Airlines has
received 30 awards for innovation, customer responsiveness and was voted the
~Best New Airline of the Year~ within months of its launch. Kingfisher Airlines
is part of The UB Group which is one of India`s largest conglomerates with
diverse interests and a global presence. The UB Group is also the largest
Indian manufacturer of beverage alcohol (beer & spirits) and the third
largest drinks Group in the world.
With the merger of Kingfisher Airlines and Deccan, the airline covers
all segments of air travel from low fares to premium fares and offers the
maximum number of flights offered by any single airline network in India. The
combined airline entity now connects 64 cities and has 484 daily departures.
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New Services
Launched With Effect From April 14, 2008 |
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Origin |
Destination |
Flight No. |
Depart |
Arrive |
Aircraft Type |
Fares Starting |
|
Chennai |
Tiruchirapalli |
IT 2911 |
12:45 |
13:55 |
ATR |
Rs.900/- +
applicable fees, taxes & surcharge |
|
Tiruchirapalli |
Chennai |
IT 2912 |
14:20 |
15:30 |
ATR |
Rs.900/- +
applicable fees, taxes & surcharge |
Note to Editors
- All flights timings shown are local
timings and unless indicated otherwise, all flights operate daily
services.
- Fares are given in Indian Rupees and fares
shown are one-way fares for travel in Kingfisher Class, unless otherwise
indicated.
- Our current Applicable Fees, Taxes
& Surcharge @ Rs. 2375/ - per ticket are extra.
- Flight schedules & aircraft type
are subject to change without prior notice. Guests are advised to check
flight details including departure timings closer to their date of travel.
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.85.08 |
|
Euro |
1 |
Rs.68.10 |
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 |
|