1. Summary Information
|
|
|
Country |
India |
|
Company Name |
PRECIOUS HOSPITALITY AND LEISURE PRIVATE LIMITED |
Principal Name 1 |
Mr. Devinder Singh Chawal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ramanpreet Kaur |
|
|
|
Registration # |
55-091688 |
|
Street Address |
S-21 and 22, Second Floor, Select Citywalk, Saket, New Delhi-110017,
Delhi |
||
|
Established Date |
14.01.1998 |
SIC Code |
-- |
|
Telephone# |
91-11-23328858 |
Business Style 1 |
Chain of Restaurant |
|
Fax # |
91-11-23716295 |
Business Style 2 |
--- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
6,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies
Corporate -76.67% Directors
and Relatives of Directors-23.33% |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
No |
Business Period |
13 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
India |
Richmond Leisure and Hotels Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,998,000 |
Current Liabilities |
13,465,000 |
|
Inventories |
1,503,000 |
Long-term Liabilities |
23,367,000 |
|
Fixed Assets |
25,984,000 |
Other Liabilities |
1,156,000 |
|
Deferred Assets |
0 |
Total Liabilities |
37,988,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
0 |
|
|
|
Net Worth |
5,497,000 |
|
Total Assets |
43,485,000 |
Total Liab. & Equity |
43,485,000 |
|
Total Assets (Previous Year) |
68,104,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
62,296,000 |
Net Profit |
684,000 |
|
Sales(Previous yr) |
59,066,000 |
Net Profit(Prev.yr) |
(2,829,000) |
MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRECIOUS HOSPITALITY AND LEISURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S-21 and 22, Second Floor, Select Citywalk, Saket, New Delhi-110017,
Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.01.1998 |
|
|
|
|
Com. Reg. No.: |
55-091688 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70109DL1998PTC091688 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP07398G |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Chain of Restaurant. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses being recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some
cautions. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
S-21 and 22, Second Floor, Select Citywalk, Saket, New Delhi-110017,
Delhi, India |
|
Tel. No.: |
91-11-23328858 / 23716294 / 4199900 |
|
Fax No.: |
91-11-23716295 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Devinder Singh Chawal |
|
Designation : |
Director |
|
Address : |
2/9, Raj Nagar, Ghaziabad, India |
|
Date of Birth/Age : |
10.03.1974 |
|
Date of Appointment : |
27.03.2010 |
|
DIN No : |
00428063 |
|
|
|
|
Name : |
Mr. Ramanpreet Kaur |
|
Designation : |
Director |
|
Address : |
2/9, Raj Nagar, Ghaziabad, India |
|
Date of Birth/Age : |
03.04.1974 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No : |
00428156 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Richmond Leisure and Hotel Private Limited, India |
460000 |
|
Devinder Singh Chawla |
140000 |
|
|
|
|
Total |
600000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
76.67 |
|
Directors or relatives of Directors |
23.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Chain of Restaurant. |
GENERAL INFORMATION
|
Bankers : |
·
Punjab National Bank, MID Corporate Branch, A-9,
Connaught Place, New Delhi-110001, Delhi, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Notes 1.
Secured against security deposit paid to Select
Infrastructure Private Limited 2.
Secured against hypothecation fixed assets at Geoffeys
Restaurant 3.
Secured against personal guarantee of directors
and collateral against property of relative. 4.
Terms loans repayable within one year Rs. 1.604
millions (P. Y. Rs. 1.242 millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T. R. Chadha and Company Chartered Accountant |
|
Address : |
B-30, CONNAUGHT Place, Kathiala Building, New Delhi-110001, Delhi,
India |
|
|
|
|
Holding Company : |
Richmond Leisure and Hotels Private Limited CIN No : U55101DL2004PTC124959 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000
Millions |
|
|
|
|
|
Note: (600000 Equity shares of Rs. 10/- each fully
paid up were held by M/s Ambrence Hospitality Management Private Limited Holding
Company) on 31.03.2010 310000 shares were transferred to Richmond Leisure
and Hotels Private Limited new holding company
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.000 |
6.000 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
1.642 |
|
|
4] (Accumulated Losses) |
(0.503) |
(1.187) |
0.000 |
|
|
NETWORTH |
5.497 |
4.813 |
7.642 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.140 |
7.653 |
7.164 |
|
|
2] Unsecured Loans |
17.227 |
22.177 |
18.562 |
|
|
TOTAL BORROWING |
23.367 |
29.830 |
25.726 |
|
|
DEFERRED TAX LIABILITIES |
1.156 |
1.493 |
2.063 |
|
|
|
|
|
|
|
|
TOTAL |
30.020 |
36.136 |
35.431 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.984 |
27.966 |
31.101 |
|
|
Capital work-in-progress |
0.000 |
1.011 |
0.512 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.500 |
0.450 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.503
|
1.358 |
0.966 |
|
|
Sundry Debtors |
1.096
|
0.885 |
1.393 |
|
|
Cash & Bank Balances |
2.594
|
4.788 |
3.229 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.308
|
15.612 |
15.574 |
|
Total
Current Assets |
17.501
|
22.643 |
21.162 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.956
|
11.502 |
11.220 |
|
|
Other Current Liabilities |
2.710
|
2.885 |
5.111 |
|
|
Provisions |
1.799
|
1.597 |
1.463 |
|
Total
Current Liabilities |
13.465
|
15.984 |
17.794 |
|
|
Net Current Assets |
4.036
|
6.659 |
3.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30.020 |
36.136 |
35.431 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
62.296 |
59.066 |
39.377 |
|
|
|
Other Income |
1.521 |
0.785 |
4.336 |
|
|
|
TOTAL (A) |
63.817 |
59.851 |
43.713 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
60.022 |
58.355 |
44.515 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
60.022 |
58.355 |
44.515 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.795 |
1.496 |
(0.802) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.000 |
1.333 |
0.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.795 |
0.163 |
(1.582) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.427 |
3.404 |
2.471 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.368 |
(3.241) |
(4.053) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.316) |
(0.464) |
(1.210) |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES |
0.000 |
0.052 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.684 |
(2.829) |
(2.843) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.14 |
(4.72) |
(4.74) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.07
|
(4.73) |
(6.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.59
|
(5.49) |
(10.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.85
|
(6.40) |
(7.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
(0.67) |
(0.53) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.91
|
9.83 |
5.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.42 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U70109DL1998PTC091688 |
|
Name of the
company |
PRECIOUS
HOSPITALITY AND LEISURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1012,
1014, Antriksh Bhawan, 22, K G Marg, New Delhi-110001, Delhi, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, MID Corporate Branch, A-9, Connaught Place, New
Delhi-110001, Delhi, India |
|
Nature of
instrument creating charge |
Hypothecation
of goods and book debts to secure cash credit facility, hypothecation of current
assets, hypothecation of moveable assets forming part of fixed / block
assets, |
|
Date of
instrument Creating the charge |
26.03.2011 |
|
Amount secured by
the charge |
Rs. 70.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC:
Base Rate + 5.50% I, E, 15.00% per annum with monthly rests. Presently base
rate is 9.50%. Commission as per bank's rules. Subject
To Change From Time To Time Terms of
repayment On
demand. As per agreement. Margin Stocks
25% Book
Debts 40% As
stipulated by the bank from time to time. Extent and
operation of the charge Full
Charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of goods, stocks, book debts, current assets, fixed moveable block assets
both present and future. |
|
Charge
identification number of the charge to be modified |
10268745 |
|
Particulars of
the present modification |
Limit
modified up to Rs. 70.000 millions i.e. Bank
guarantee Rs. 50.000 millions Cash
credit (hypothecation of stocks and BD) Rs. 20.000 millions |
FIXED ASSETS
Ø
Building
Ø
Plant and Machinery
Ø
Vehicles
Ø
Computers
Ø
Furniture and Fixtures
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.44.72 |
|
|
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.