MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
EXCEL PRODUCTIONS AUDIOVISUALS PRIVATE LIMITED |
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Registered Office : |
4th Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.10.1999 |
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Com. Reg. No.: |
11-122039 |
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CIN No.: [Company
Identification No.] |
U92100MH1999PTC122039 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME03715F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor of Audio Visuals, of interactive games and of premium
Toys. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 410000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct. The company can be considered normal business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. M.N. Kapasi |
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Designation : |
Director |
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Contact No.: |
91-22-64575764 |
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Date : |
07.04.2009 |
LOCATIONS
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Registered Office : |
4th Floor, |
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Tel. No.: |
91-22-40500700 |
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Fax No.: |
91-22-40500701 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. |
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Location : |
Owned |
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DIRECTORS
As on : 30.09.2010
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Name : |
Mr. Muslim Najmuiddin Kapasi |
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Designation : |
Director |
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Address : |
302, Burhani Manzil, CHS, |
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Date of Appointment : |
01.10.1999 |
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Name : |
Mr. Shabbir Najmuddin Kapasi |
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Designation : |
Director |
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Address : |
302, Burhani Manzil, CHS, |
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Date of Appointment : |
01.10.1999 |
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Name : |
Mr. Esmail Fakhruddin Kapasi |
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Designation : |
Director |
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Address : |
65/66, |
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Date of Appointment : |
01.10.1999 |
KEY EXECUTIVES
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Name : |
Ms. Shina |
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Designation : |
H R Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Muslim Najmuddin Kapasi |
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2000000 |
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Shabbir Najmuddin Kapasi |
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2000000 |
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Esmail Fakhruddin Kapasi |
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1394012 |
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Mustafa Kapasi |
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605988 |
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Total |
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6000000 |
Equity Share Breakup (Percentage of Total Equity)
As on : 30.09.2010
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Distributor of Audio Visuals, of interactive games and of premium Toys |
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Agencies Held : |
·
Audio Visuals ·
Interactive Games ·
Premium Toys |
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Trading Terms : |
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Purchasing : |
Cash |
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Selling : |
Cash |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150
(Approximately) |
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Bankers : |
·
Standard Chartered Bank, SME Credit, 23-25, M ·
ICICI Bank Limited ·
Union Bank of ·
HSBC Bank ·
Saraswat Co-operative Bank Limited, Marol Branch,
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shabbir S Bagasrawala Chartered Accountant |
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Address : |
1st Floor, Narayan Niwas, 63, Aarey Raod, Goregaon (West),
Mumbai-400062, |
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Tel. No.: |
91-22-28720555 |
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Fax No.: |
91-22-28739939 |
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Associates/ Subsidiaries : |
·
Excel House Hold Audio Visual ·
Excel Interactive ·
My Baby Excel ·
Movie and More |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Milions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Milions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
60.000 |
60.000 |
60.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
42.562 |
38.717 |
34.637 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
102.562 |
98.717 |
94.637 |
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LOAN FUNDS |
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1] Secured Loans |
66.014 |
46.955 |
32.542 |
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2] Unsecured Loans |
40.050 |
47.950 |
38.000 |
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TOTAL BORROWING |
106.064 |
94.905 |
70.542 |
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DEFERRED TAX LIABILITIES |
0.770 |
0.812 |
0.699 |
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TOTAL |
209.396 |
194.434 |
165.878 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.139 |
19.264 |
21.179 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.391 |
1.973 |
5.776 |
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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 |
121.210
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107.381
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0.000
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Sundry Debtors |
123.923
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121.928
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135.646
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Cash & Bank Balances |
4.846
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8.651
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2.554
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Other Current Assets |
0.000
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0.000
|
72.761
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Loans & Advances |
60.106
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43.678
|
91.304
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Total
Current Assets |
310.085
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281.638 |
302.265
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Sundry Creditors |
115.793
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106.120
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139.062
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Provisions |
3.840
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2.787
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24.282
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Total
Current Liabilities |
119.633
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108.907 |
163.344
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Net Current Assets |
190.452
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172.731 |
138.921
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MISCELLANEOUS EXPENSES |
0.414 |
0.466 |
0.002 |
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TOTAL |
209.396 |
194.434 |
165.878 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES AND
SERVICES INCOME |
285.375 |
301.952 |
396.623 |
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Less |
EXPENSES |
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Administrative Expenses |
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Interest |
277.153 |
293.375 |
325.436 |
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Advertising Expenses |
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TOTAL |
277.153 |
293.375 |
325.436 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.222 |
8.577 |
71.187 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
2.130 |
2.145 |
2.023 |
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PROFIT BEFORE
TAX |
6.092 |
6.432 |
69.164 |
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Less |
TAX |
1.962 |
1.786 |
24.389 |
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PROFIT AFTER TAX
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4.130 |
4.646 |
44.775 |
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Earnings Per
Share (Rs.) |
0.68 |
1.07 |
7.46 |
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Expected Sales (2010-2011) : Rs. 350.000 millions
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.44 |
1.53 |
11.29
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Net Profit Margin (PBT/Sales) |
(%) |
2.13 |
2.13 |
17.44
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.86 |
2.13 |
21.38
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Return on Investment (ROI) (PBT/Networth) |
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0.05 |
1.00 |
0.73
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Debt Equity Ratio (Total Liability/Networth) |
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2.20 |
2.06 |
2.47
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Current Ratio (Current Asset/Current Liability) |
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2.59 |
2.58 |
1.85
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LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details are not Available
NOTE :
The Registered address of the company has been shifted from 24/25 C Wing
1st Floor, Rajendra Industrial Complexm Marol Millitary Road Andheri
East, Mumbai-400059, Maharashtra, India to present address w.e.f. 25.08.2007
TRADE REFERENCES:
·
Disney
·
E A Games
PERFORMANCE:
During the year,
the Company has achieved turnover of Rs. 285.375 millions as compared to
Rs.301.952 millions in previous year and Net Profit is Rs.4.130 millions as
compared to Rs.4.646 millions profit during the previous year.
The company has
not been able to get their business in order due to recession globally in the
Entertainment Industry. However, the company is also in talks with various
other entertainment companies for projects of marketing and distribution of
films, toys etc., to diversify and capitalize on the related market.
BUSINESS SCENARIO:
The economic
conditions in the country in 2009-10 have turned towards upward swing. However,
the company is having a very reserved approach during the year and
consolidating its internal strength. The future augurs well for the company. In
the coming year the company proposes to diversify in all spheres of home
entertainment industry to capitalize on the new openings in the market.
FORM : 8
Bankers Charges
Report as per Registry
|
Name of the company |
EXCELL PRODUCTIONS AUDIOVISUALS PRIVATE LIMITED |
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Presented By |
Excel Production
Audio Visuals Private Limited and The Saraswat Co-operative Bank Limited,
Marol Branch, Andheri (East), Mumbai-400059 |
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1) Date and description of instrument creating the change |
Agreement of
hypothecation of vehicle dated 14.11.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 Million |
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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 |
Hypothecation of
Vehicle Hyundai Accent GLS |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @
15% p.a. or at such other rate as may be Fixed by the bank form time to time
and notified to the borrower |
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5) Name and Address and description of the person entitled to the charge. |
Saraswat co-operative Bank Limited, Marol Branch, |
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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 |
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Corporate
identity number of the company |
U92100MH1999PTC122039 |
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Name of the
company |
EXCEL PRODUCTIONS
AUDIOVISUALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
4th Floor, |
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This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
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Particular of
charge holder |
Standard
Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai – 400001, Maharasahtra, India |
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Nature of instrument
creating charge |
Hypothecation
Agreement - Supplemental |
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Date of
instrument Creating the charge |
16/04/2009 |
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Amount secured by
the charge |
Rs. 110.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest : Credit Facility. Interest /
Commission - As agreed by and with the Bank from time to time Terms of repayment : As agreed by and
with the Bank from time to time. Margin : As applicable, if
any. Extent and operation of the charge The Bank is
having first charge on the security given by the Company. Other : Nil |
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Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first charge on: a) all the stock in trade both present and future
consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise b) all the present and future book debts,
outstanding moneys receivable, claims and bills. c) all the movable fixed
assets. (as more described in attached agreement) |
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Date of
instrument modifying the charge |
28/01/2008 |
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Particulars of
the present modification |
By present modification,
the existing charge of Rs.50.000 Millions enhanced to Rs.110.000 millions |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 44.04 |
|
|
1 |
Rs. 72.19 |
|
Euro |
1 |
Rs. 63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.