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MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
FCM TRAVEL SOLUTIONS (INDIA) PRIVATE LIMITED |
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Formerly Known As : |
Friends Globe Travels Limited |
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Registered Office : |
JC-43, Khirki Extension, Malviya Nagar, New Delhi – 110 017 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.03.1997 |
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Com. Reg. No.: |
55-85946 |
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CIN No.: [Company
Identification No.] |
U74999DL1997PTC085946 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELF01250E |
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PAN No.: [Permanent
Account No.] |
AAACF2674C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in Travel Agent and Tour Operators |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1100000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company and a part of FCM Group Worldwide.
Trade relations are fair. Business is active. General financial position is good.
Payments are reported as usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
JC-43, Khirki Extension, Malviya Nagar, New Delhi – 110 017, India |
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Tel. No.: |
91-11-42536666 (30 Lines) / 29543940 |
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Fax No.: |
91-11-42536677 / 42536698 / 29543942 |
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E-Mail : |
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Website : |
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Branches : |
Located at ·
Ahmedabad ·
Chennai ·
Hyderabad ·
Mumbai ·
Bangalore ·
Gurgaon ·
Kolkata ·
Pune ·
Vadodara ·
Coimbatore ·
Cochin ·
Vizag ·
Mysore ·
Chandigarh ·
Bhubaneshwar ·
Surat ·
BKC Mumbai |
DIRECTORS
|
Name : |
Mr. Rahul Nath |
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Designation : |
Managing Director |
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Address : |
B-535, New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
23.09.1965 |
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Date of Appointment : |
19.03.1997 |
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Name : |
Mr. Naren Nautiyal |
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Designation : |
Director |
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Address : |
381, Vasant Enclave, New Delhi – 110 057, India |
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Date of Birth/Age : |
29.09.1966 |
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Date of Appointment : |
16.03.1998 |
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Name : |
Nr. Harinder Walia |
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Designation : |
Director |
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Address : |
60, Siddharth Enclave, Ring Road, New Delhi – 110 014, India |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mr. Graham Francis Turner |
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Designation : |
Director |
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Date of Birth/Age : |
26.06.1949 |
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Date of Appointment : |
05.07.2005 |
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Name : |
Mr. Anthony Grigson |
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Designation : |
Director |
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Date of Birth/Age : |
14.01.1967 |
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Date of Appointment : |
05.07.2005 |
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Name : |
Mr. Vinod Gupta |
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Designation : |
Alternate Director |
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Address : |
H. No. 267, Gopal Kunj, Ward No. 3, Garhi Mohalla, Faridabad – 121
002, Haryana, India |
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Date of Birth/Age : |
08.03.1967 |
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Date of Appointment : |
13.09.2007 |
KEY EXECUTIVES
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Name : |
Mrs. Sunita Nath |
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Designation : |
Company Secretary |
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Address : |
HEWO Apartments, Flat No. 82, Sector 16A, Faridabad, Haryana |
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Name : |
Ms. Mukta Goel |
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Designation : |
Company Secretary |
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Date of Birth/Age : |
04.03.1981 |
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Date of Appointment : |
01.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
Rahul Nath |
173713 |
|
Flight Centre Limited, Australia |
1 |
|
Fight Centre Technology Private Limited |
1 |
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Fight Centre (China) Pty Limited |
1 |
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Shanghai journey Pty Limited |
1 |
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ITG Pty Limited |
1 |
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Flight Centre (Mauritius) Limited |
203920 |
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Total |
377638 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Foreign holdings (Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas corporate bodies or Others. |
54.00 |
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Directors or relatives of directors |
46.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Travel Agent and Tour Operators |
GENERAL
INFORMATION
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Bankers : |
·
Bank of India Okhla Industrial Estate Branch, New Delhi,
India ·
The Hongkong and Shanghai Banking Corporation Limited Birla House, 25 Barakhamba Road, New Delhi
– 110 001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Pricewaterhouse Chartered Accountants |
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Address : |
Building 8, 7th and 8th Floor, Tower B, DLG
Cyber city, Gurgaon – 122 002, Haryana, India |
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Associates : |
·
Fight Centre (China) Pty Limited ·
FCm Travel Solutions, Beijing ·
FCm Travel Solutions, Belgium ·
FCm Travel Solutions, Germany ·
FCm Travel Solutions, Ireland ·
FCm Travel Solutions, China |
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Subsidiaries : |
·
Travel and Pty Limited ·
Frequent Flyers Pty. Limited |
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Holding Company : |
Flight Centre (Mauritius) Limited |
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Parent of Holding Company : |
Flight Centre Limited |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
377638 |
Equity Shares |
Rs.100/- each |
Rs.37.764 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 |
37.764 |
37.764 |
37.764 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
191.395 |
129.214 |
69.502 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
229.159 |
166.978 |
107.266 |
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LOAN FUNDS |
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|
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1] Secured Loans |
372.547 |
221.066 |
125.294 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
372.547 |
221.066 |
125.294 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
5.611 |
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TOTAL |
601.706 |
388.044 |
238.171 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
140.940 |
97.976 |
93.580 |
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Capital work-in-progress |
2.544 |
1.625 |
0.800 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
10.341 |
3.714 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.00
|
0.000 |
0.000 |
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Sundry Debtors |
812.801
|
499.081 |
259.152 |
|
|
Cash & Bank Balances |
118.258
|
69.503 |
55.048 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
203.368
|
98.597 |
64.635 |
|
Total
Current Assets |
1134.427
|
667.181 |
378.835 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
657.902
|
361.228 |
224.012 |
|
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Provisions |
28.644
|
21.224 |
11.032 |
|
Total
Current Liabilities |
686.546
|
382.452 |
235.044 |
|
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Net Current Assets |
447.881
|
284.729 |
143.791 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
601.706 |
388.044 |
238.171 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
543.705 |
372.578 |
249.273 |
|
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Other Income |
0.000 |
1.485 |
3.939 |
|
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Total Income |
543.705 |
374.063 |
253.212 |
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Profit/(Loss) Before Tax |
105.054 |
91.939 |
42.750 |
|
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Provision for Taxation |
42.873 |
32.226 |
22.283 |
|
|
Profit/(Loss) After Tax |
62.181 |
59.713 |
20.467 |
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Earnings in Foreign Currency : |
82.305 |
82.176 |
0.000 |
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Expenditures : |
|
|
|
|
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Financial charges |
49.142 |
0.000 |
0.000 |
|
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Salaries, Wages, Bonus, etc. |
0.000 |
116.703 |
75.158 |
|
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Managerial Remuneration |
0.000 |
5.397 |
5.577 |
|
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Payment to Auditors |
0.000 |
2.103 |
1.598 |
|
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Interest |
0.000 |
19.904 |
11.041 |
|
|
Insurance Expenses |
0.000 |
2.987 |
1.213 |
|
|
Depreciation & Amortization |
28.772 |
15.609 |
12.155 |
|
|
Other Expenditure |
360.737 |
119.421 |
103.720 |
|
Total Expenditure |
438.651 |
282.124 |
210.462 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
11.44
|
15.96 |
8.08 |
|
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
19.32
|
24.68 |
17.15 |
|
|
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.24
|
12.02 |
9.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.55 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.62
|
3.61 |
3.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
1.74 |
1.61 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Corporate
identity number of the company |
U74999DL1997PTC085946 |
|
Name of the
company |
FCM TRAVEL SOLUTIONS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
JC-43, Khirki Extension, Malviya Nagar, New Delhi – 110 017, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Hypothecation |
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Particular of
charge holder |
Bank of India Okhla Industrial Estate Branch, New Delhi, India |
|
Nature of
instrument creating charge |
Agreement of Term
Loan and Hypothecation of movable
assets / goods / property / plant and machinery |
|
Date of
instrument Creating the charge |
20.02.2006 |
|
Amount secured by
the charge |
Rs.6.000 millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
The charge is to
secure the term loan of Rs.6.000 millions sanctioned to the company. The term
loan is repayable in 36 EMIS of Rs.0.198 millions commencing one month after
disbursement. Interest on loan
is payable at 1% over BPLR subject to min of 11.75% |
|
Description of
the property charged indicating whether it is a charged on |
·
Furniture
and fixtures ·
Others o
Others Fixed
Assets |
|
Particulars of
the property charged |
Hypothecation of
all items furnishing / fixtures |
Web Details
Introduction
Subject presents itself as a force to reckon with in the field of
Business Travel Management. Conceived in 1986, it began its operations in1987 with
a commitment to provide a total travel management package in terms of
comprehensive and professionally effective services. Its reliable services and
exclusive facilities have recently won them the 'Best Travel, Transport and
Ticketing partner of the year award 2003' from the prestigious International
Facility Management Association (IFMA-USA). FGTL since inception is
continuously being led by Mr. Rahul Nath, CEO-FGTL, who is a USA management
graduate.
Subject is corporate brand of Australian giant Flight Centre with annual
transaction value of USD 5.15 billion Dollar Company. This is the largest
travel company of Asia pacific and rated under top 3 travel companies of the
world. FCm is one of the largest TMC of India with annual transaction value of USD
160 million.
It was amongst the first companies in India to consolidate the Travel desks in
corporate houses and takes pride of being one of the largest Travel desk
provider companies.
Subject consists of nineteen operating regions, one office each in New Delhi,
Bangalore, Chandigarh, Chennai, Gurgaon, Mumbai, Hyderabad, Pune, Vizag,
Ahmedabad, Vadodara, Kolkata, Bhubaneswar, Mangalore, Cochin, Coimbatore, Nasik
and Mysore. The 850 multi skilled staff members are working in their core
specialized areas along with their teams to bring the unique value ads and
superior most service levels. Subject has a professionally skilled Tour
department for inbound/ outbound/meetings/incentives, conference facilitation
and in house events / production.
The company enjoys the services of skilled professionals who are the
connoisseurs in their respective fields of operation. Every member of the
management team specializes in communication, product development, management
information systems, education, training and finance, which led the
organization into the top brass travel companies in India.
Subject offices are IATA approved and they are the members of Travel Agent
Association of India (TAAI), Travel Agents Federation of India (TAFI), American
Society of Travel Agents (ASTA), United Federation of Travel Agent Association
and Indian Association of Tour Operators (IATO). The company plans to open 7
more branches all across India by 2006 and becoming the largest networked
travel company of the country.
Subject, the most technological advance company of the country is equipped with
the user friendly Website, regular online newsletters, CRM package, Visa
tracking tool, Sales tracking system. It will soon be launching its call centre
for company customers. Subject is planning to shift the worldwide call centers,
BPO and IT centre to India.
The company has also created a special cell and special team to develop the
market of Middle east to service the existing customers present in India so
that the same level of services can be delivered. Subject plans to usher into
the retail market with the help of Flight Centre with a new concept so that
corporate level of services can be rendered to retail customer to bring higher
level of service concept in India, though this retail segment will be entirely
separate cost / profit centre and will not be related with the corporate
division.
Travel Management
They are a full service travel management
company. It is ranked among the top corporate travel providers, serving all the
leading companies. Quality services are delivered with the financial strength,
experienced teammates, advanced systems and innovations would expect from a
leader.
Subject focuses on the requirements and co-ordinates with the staff to provide
total satisfaction. They offer every service from consolidated travel purchases
to regional, national or global support. They understand the business from the
ground up and that enables them to serve better.
The Strength
The organization consists of nineteen operating regions, one office each in New
Delhi, Bangalore, Chandigarh, Chennai, Gurgaon, Mumbai, Hyderabad, Pune, Vizag,
Ahmedabad, Vadodara, Kolkata, Bhubaneswar, Mangalore, Cochin, Coimbatore, Nasik
and Mysore. They have a solid and efficient feedback system that has been
helping them to render unimaginable services or new products every time to the
customers and also helps them in achieving the customer surprise.
The team includes experts in the field of business travel. Every member of the
team is dedicated to provide maximum results through comprehensive account
planning and goal setting. They employ over 850 people in 19 locations.
CRM (CUSTOMER RELATIONSHIP MANAGEMENT)
Customer Relationship Management is an essential part of Travel management.
They establish long lasting relations with the clients by understanding their
requirements. The team of professionals customizes the services as per the
needs and wants of the clients. CRM includes understanding various facets
like:-
·
Policy
·
Individual's Preference
·
Individual's Position
·
Individual's Travel Authorization
The itinerary
selection mechanism is such that it helps selecting the best bargain. This is
done in keeping with the supplier deals, individual preferences and
individuals' authorization and the travel policies of the company.
Cost Savings
They deliver results in the form of measurable service and saving benefits for
through the combination of cost saving opportunities and superior account
management.
MIS Report can be customized as per the customers' requirement like department
wise, sector wise, billing details, visa details.
This tool enables to negotiate with the airline for the best detail. It also
creates areas where can save cost and keeps updated with all the travel related
expenses. It ultimately reduces the travel cost.
Awards
Pictures can be worth a 1000 words, so
perhaps a few of the shown certificates given by the Airlines and different
relevant bodies are worth a look.
They have received
the following awards as Best Corporate Travel Agency from:
- KLM ROYAL
DUTCH AIRLINES Best Agent award for 13 years in a row. From 1992 to 2005.
- Award of Excellence from LUFTHANSA GERMAN AIRLINES for 11
years in row from 1994 to 2005.
- Outstanding Performance awards from SCANDINAVIAN AIRLINES for 1993
and 1995 to 2000.
- Outstanding Contribution awards from SWISSAIR for the years 1995, 1996
and 1999.
- Outstanding awards from AIR CANADA for 1995, BRITISH AIRWAYS for 1996 and 1999
and 2005, JET AIRWAYS for
1999, 2004 and 2005, AIR SAHARA
for 2004 and 2005, SINGAPORE
AIRLINES for 1996 to 2005, THAI
AIRWAYS for 1996 and 2003.
- Award for best travel company by IFMA
(International Facility Management Association)
- Best TMC in India awarded by Marriott
Group in 2004 and 2005.
- Awards and Certificates from various
other airlines.
Press Release
FCm Travel Solutions secures the contract as an
official Travel Agents for ICC Cricket World Cup 2007
Friends Globe
Travels Limited ( A division of FCm Travels Solutions), a leader in corporate
travel management specialist guaranteeing a different approach to service bags
a contract as an Official Travel Agent at ICC Cricket World Cup West Indies 2007.
FCm Travels is among the first batch of Official Travel Agents (OTAs) approved
to sell Tour and Travel packages, inclusive of match tickets, for ICC Cricket World
Cup, 2007.
Addressing the
media John Davison, Director, Cricket Logistics 2007 said, “We are delighted to
welcome FCm, as the Official Travel Agent at ICC World Cup Cricket 2007 family
and are looking forward to work with them to ensure that the next year’s tournament
is truly a global event.”
FCm Travel
Solutions is one of the 20 travel agencies from 11 countries across the globe –
including two Host Venues are in the first batch of Travel Agents solely
authorized to offer Tour and Travel packages for the tournament for sale and
fans should avoid entities which are purporting to be OTAs or travel agents
which are not on the official list. says Mr. Rahul Nath, CEO, FCm Travel
Solutions, “ He also added that the awarded contract is very prestigious for us
because cricket is not just a game in India but it has become the religion of
the country. This event would be the most popular event of this decade for
sports fans of India and we will use our network and expertise to take the
cricket fans to West Indies for a live experience of lifetime.
FCM Travel
Solutions which holds the IATA license with several years of experience in
travel and Sports Industry will have to adhere to the strict guidelines laid
down by the CWC 2007 Inc and the ICC in the match ticket terms and conditions
and is all geared up to meet the anticipated demand on traveling supporters
from Indian territory at ICC World Cup 2007 West Indies.
FCm Travel Solutions
introduces India's first personalised 24 hours Airport Transfer service
FCm Travels Solutions,
the first Asia–Pacific based travel and expense management specialist has
launched the country’s foremost personalized 24 hours airport transfer service,
the only one of its kind in India. This dedicated ‘meet and greet’ offer will
be made available to all the passengers at all international airports including
the international airport in Kolkata.
Says Mr. Rahul
Nath, CEO, FCm Travel Solutions, “FCm Travel Solutions is focused on reducing
the demands of business travel by placing greater value on service that is
personalised, adaptable and in touch with the individual needs of the clients.
With the take-up
rate of 80 per cent of FCm clients using the new airport assistance service,
The group would provide airport assistance and felicitation to the passengers
with the last minute travel requirements.
Rahul Nath says, FCm Travel Solutions
innovated this unique service concept in1987 and have been delivering this flawlessly
in Delhi, Mumbai, Bangalore, Chennai and at some other major Airports. FCm
India established its Kolkata office in 2005 at the Chowrangee road, the hub of
Kolkata. After 18 months of the functioning the Kolkata office is fully
equipped to cater to large corporate customers, group movements and is working
as full strength office for FCm-India. Kolkata is the latest technology hub and
through recent news it will be centre of attraction for the auto industry.FCm
India anticipated this and established the office to deliver high class
international services which are unheard in the kolkata market so far.
The FCm ground
staffs would be managing and felicitating all of these processes for the client
and would save their time which in the end is money saving for any customer.
The group is as hands-on as clients wish, creates tailored and flexible
solutions for every business, and makes travel management decisions in
partnership with clients.
FCm Travel
Solutions’ services and solutions include strategic and dedicated account management,
advanced management reporting and analysis, independent travel advice, finger
tip travel information, frequent flyer management, a global hotel program, and
total travel fulfilment (visas, passports, insurance, airport transfers
etc).
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 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.48.68 |
|
UK Pound |
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
7 |
|
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 |
|
TOTAL |
|
63 |
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 |
|