MIRA INFORM REPORT
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Report Date : |
15.07.2011 |
IDENTIFICATION DETAILS
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Name : |
ASPRI SPIRITS PRIVATE LIMITED |
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Registered Office : |
301, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.08.2004 |
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Com. Reg. No.: |
11-148284 |
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Paid-up Capital : |
Rs. 3.300 Millions |
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CIN No.: [Company
Identification No.] |
U15500MH2004PTC148284 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA25153C |
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PAN No.: [Permanent
Account No.] |
AAECA8483E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader, Exporter and Importer of Alcoholic Beverage |
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No. of Employees : |
25 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 61000 |
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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 and as per commitments. The Company can be considered normal for 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.
INFORMATION PARTED BY
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Name : |
Mr. Kumar |
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Designation : |
Account Manger |
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Contact No.: |
91-22-42505100 |
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Date : |
15.07.2011 |
LOCATIONS
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Registered Office/ Head Office : |
301, |
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Tel. No.: |
91-22-26056366/ 26401995 / 22061232/42505100 |
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Fax No.: |
91-26401997 |
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E-Mail : |
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Website : |
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Warehouse: |
Located at Shiwri and Panvel |
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Branches: |
Located at - T-11, Okhla Industrial
Area, Phase II, New Delhi-110020 Tel.: 91- 11- 41633982, Fax.: 91-11-41631713, Email: delhi@aspri.org Located at - 25/2, 1st Floor, Tel: 91-80-41266569,
Email: bangalore@aspri.org |
DIRECTORS
(As on 29.09.2010)
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Name : |
Mr. Duru Sham Matai |
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Designation : |
Director |
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Address : |
11, Smokey Hill, |
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Date of Birth/Age : |
20.03.1947 |
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Date of Appointment : |
13.01.2002 |
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Name : |
Mrs. Vrutika Jaikishan Matai |
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Designation : |
Director |
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Address : |
11, Smokey Hill, |
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Date of Birth/Age : |
17.03.1971 |
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Date of Appointment : |
24.02.2003 |
KEY EXECUTIVES
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Name : |
Mr. Kumar |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
(As on 29.09.2010)
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Names of Shareholders |
No. of Shares |
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Vrutika Jaikishan Matai |
10000 |
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25000 |
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Jacki Matai |
62998 |
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Jacki Matai (HUF) |
58501 |
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Duru Sham Matai |
8500 |
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Jyoti Matai |
1 |
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Gautam Mati |
37125 |
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Vijay Narag |
54249 |
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Nand Matai |
37124 |
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Pavan Narang |
20001 |
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Prashant Matai |
1 |
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Arun Kumar |
16500 |
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Bhagyashri P Tahllzani |
1 |
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Total |
330001 |
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(As on 29.09.2010) |
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Equity Share Break up |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Alcoholic Beverage |
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Exports : |
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Products : |
·
Alcoholic Beverage |
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Countries : |
·
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Imports : |
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Products : |
·
Alcoholic Beverage |
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Countries : |
·
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
25 (approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute : |
3i Infotech Trusteeship Services Limited, 3rd to 6th
Floor, International Infotech Park, Tower No. 5, Vashi Railway Station
Complex, Vashi, Navi Mumbai – 400703, Maharashtra, India |
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Auditors : |
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Name : |
Kalyan Jain and Associates Chartered Accountant |
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Address : |
108, A S |
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Tel. No.: |
91-22-22061232 / 22001972 |
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Fax No.: |
91-22-22092614 |
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E-Mail : |
CAPITAL STRUCTURE
(As on 31.03.2010)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10 each/- |
Rs. 4.000 Millions |
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400000 |
Preference Shares |
Rs. 10 each/- |
Rs. 4.000 Millions |
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Total |
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Rs. 8.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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330001 |
Equity Shares |
Rs. 10
each/- |
Rs. 3.300
Millions |
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(As on 29.09.2010)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10 each/- |
Rs. 4.000 Millions |
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500000 |
Preference Shares |
Rs. 10 each/- |
Rs. 5.000 Millions |
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Total |
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Rs. 9.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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330001 |
Equity Shares |
Rs. 10
each/- |
Rs. 3.300
Millions |
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After 29.09.2010
Authorised Capital : Rs. 9.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 3.667 Millions
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 |
3.300 |
3.300 |
3.300 |
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2] Share Application Money |
0.000 |
3.350 |
0.000 |
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3] Reserves & Surplus |
11.874 |
8.740 |
5.419 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.174 |
15.390 |
8.719 |
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LOAN FUNDS |
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1] Secured Loans |
31.796 |
28.284 |
3.764 |
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2] Unsecured Loans |
18.977 |
1.374 |
18.962 |
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TOTAL BORROWING |
50.773 |
29.658 |
22.726 |
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DEFERRED TAX LIABILITIES |
0.037 |
0.048 |
0.034 |
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TOTAL |
65.984 |
45.096 |
31.479 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.077 |
5.190 |
1.977 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
36.068
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29.314
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52.526 |
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Sundry Debtors |
24.364
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21.287
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34.618 |
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Cash & Bank Balances |
3.000
|
1.074
|
3.099 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
4.484
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5.421
|
6.885 |
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Total
Current Assets |
67.916
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57.096
|
97.128 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.625
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16.328
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0.000 |
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Current Liabilities |
0.000
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0.000
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65.872 |
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Provisions |
6.000
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1.999
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3.394 |
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Total
Current Liabilities |
7.625
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18.327
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69.267 |
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Net Current Assets |
60.291
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38.769
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27.861 |
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MISCELLANEOUS EXPENSES |
0.616 |
1.137 |
1.641 |
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TOTAL |
65.984 |
45.096 |
31.479 |
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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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NET SALES |
245.075 |
330.184 |
202.404 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
4.639 |
5.589 |
7.740 |
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Less |
TAX |
1.504 |
2.268 |
3.158 |
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PROFIT AFTER TAX
|
3.135 |
3.321 |
4.582 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
2.378 |
52.899 |
NA |
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TOTAL EARNINGS |
2.378 |
52.899 |
NA |
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Earnings Per
Share (Rs.) |
9.50 |
10.06 |
-- |
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Particulars |
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31.03.2011 |
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Sales Turnover (approximately) |
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250.000 |
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Expected Sales (2011-12) : Rs. 260.000 Millions
The above information has been parted by Mr. Kumar
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.89 |
1.69
|
3.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.36 |
8.97
|
7.81 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.36
|
0.89 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.85 |
3.12
|
10.55 |
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Current Ratio (Current Asset/Current Liability) |
|
8.91 |
3.12
|
1.40 |
LOCAL AGENCY FURTHER INFORMATION
The Details of
Sundry Creditors
Rs. In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
1.625
|
16.328
|
NA |
OPERATION:
The Turnover of the
company decreased by 25% during the year in comparison of previous year. Directors
expect further improvement in the turnover during the current year.
Bankers Charges
Report as per Registry
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Name of the company |
ASPRI SPIRITS PRIVATE LIMITED |
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Presented By |
Mrs. Vrutika J Matai (Director) |
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1) Date and description of instrument creating the change |
Composite
Hypothecation Agreement Date 07.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000
Millions |
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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 |
All the goods,
stocks, raw Materials, finished goods, unfinished goods, movable property of
any king, plant machinery, fixtures, implements, fitting and other
installation, furniture, vehicles, computers and all to her articles and
things both present and future, whether installed or not, whether lying loose
or in cases, at site or in transit or which may at any time hereafter during
the continuance of this security be installed or lying loose or in cases or
being in or upon which now or hereinafter from time to time during this
security shall be brought into stores or be in or about the Borrowers;) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
13% Margin as may be
stipulated by the Bank. |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank,
Rukshana Apartments, |
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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 |
U15500MH2004PTC148284 |
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Name of the
company |
ASPRI SPIRITS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
301 Mumbai – 400050, |
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This form is for |
Creation of charge |
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Type of charge |
Book debts Movable property (not being pledge) |
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Particular of
charge holder |
UNION BANK OF Andheri (East) Branch, Mayani Manor, Sir, M V Road, Andheri (East),
Mumbai -400069, Maharashtra, INDIA |
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Nature of
instrument creating charge |
Hypothecation Agreement of Goods & Debts |
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Date of
instrument Creating the charge |
19.12.2009 |
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Amount secured by
the charge |
Rs. 30.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
(a) *Rate of interest BPLR+1.50% per annum with monthly rests or such other revised rate/s
as may be prescribed by the Bank from time to time depending upon the changes
in the Prime Lending Rate of the Bank (b) *Terms of repayment On Demand (c) *Margin As per sanction terms (d) *Extent and operation of the charge To secure Cash Credit (Hypothecation) facility of Rs.30.000 Millions
granted by the Bank to the Company |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The Borrower hereby Hypothecates by way of First Charge in favour of
the Bank A) Stocks comprising Spirits Premium International Spirits Wines and
Beers which expression shall include (cont) raw materials semi finished &
finished goods consumable stores and spares and movable property of any kind
now or at any time hereafter belonging to or at the disposal of the Borrower
& which (cont) or at any time hereafter belonging to or at the disposal
of the Borrower & which (cont) Sector-6, Dronongiri Navi Mumbai 400707
& at other places hired by the Borrower (cont) B The Borrower's
Book-Debts Oustandings Monies Deposits Receivables Claims and Bills Contracts
Securities Investments which are now due and Owing |
FIXED ASSETS
·
Air conditioner
·
Aquaguard Machine
·
Coffee / Tea Maker
·
Computer
·
EPABX Systems
·
Eclectic Kettle
·
Furniture and Fixture
·
Inverter
·
Laptop A/c
·
Motor Bike
·
Mobile Phone
·
Motor Car
·
Office equipment
·
Printers
·
Fire Extinguisher
·
Refrigerator
·
UPS Stabilizer
·
Water Cooler
·
Vacuum Cleaner
·
Cycle
·
Voltage Stabilizer
AS PER WEBSITE DETAILS
PROFILE
Subject, one of the leading
distributors of premium wines, spirits and beer in the country was established in
2004. The company is promoted by three of the industry’s finest professionals Mr. Jackie Matai, a seasoned
entrepreneur and Mr. Arun Kumar,
an experienced industry professional who has been associated with many
international brands and Mr. Gautam
Matai, who is a computer engineer by qualification but having a
passion for wines and spirits. Aspri Spirits with it’s headquarter in Mumbai
and branches in
Aspri Spirits focuses on the sales, marketing and distribution
dedicated to building premium international wines, beer and spirits in
Subject has developed a sizable distribution footprint in
MANAGEMENT
Mr. Sumedh Singh Mandla
Sumedh Singh
Mandla is a Food and Beverage professional and a well known name in the
wine industry. Sumedh has over 16 years of working experience in
Food and Beverage Industry in
Sumedh was among first 5 Indians to be facilitated as the “Commanderie
du Bontemps”, at “Fete de la Fleur 2007’
at Château Smith Haut Lafitte – Pessac Léognan (Graves) organized by the most
famous wine fraternity in
Apart from Food and Beverage Management from American
Hotel and
Having worked with various multinational companies, gaining
International exposure, he brings with him knowledge and experience of
operations and management skills of the highest Food and Beverage standards in
the Indian and International arena -- in varied industries like Hospitality,
Wine and Liquor, Retailing, Logistics etc. His insight into the industry has
helped him cultivate strong ties with Business Institutions, Hotels,
Restaurants, Retail Outlets, Aviation, Duty Free shops, International and
Domestic beverage companies, Beverage distributors, Event companies and Media
agencies.
Sumedh’s ingress into the Food and Beverage industry in 1994 was
through the Taj Group of Hotels, having worked
with a number of their key properties like Taj Mahal and Palace, Mumbai, Fort
Aguada Beach Resort and Taj Exotica,
Mr. Gautam Matai
Gautam Matai is an interesting example of people who have plunged
into the interesting world of wines and spirits from a very different industry.
A Computer Applications engineer by qualification from the
The lure of the wines and spirits industry and its challenges drew
him into Aspri Spirits in 2005 and since then he has been a member of its
primary core team involved in all aspects of building an organization on a
national basis.
Mr. Jackie Matai
Mr. Matai is a native of Mumbai. He graduated from
He started his career with shipping and simultaneously commenced
the import of Tobacco and liquor into
He further moved on to set up Sunrise Petroleum which is involved
in supplying lubricants to the shipping industry .A keen entrepreneur , he
further realized the potential of the dental care segment in India and went on
to start up Dentos India Private Limited which specializes in the field of
orthodontic implants and other products in the dental care segment.
Started up Subject with Mr. Arun Kumar with a clear focus on
finance, logistics and business development of the organization.
Subject was started in 2004 with a vision to create an
organization to market and distribute the finest of international brands in the
wines, beer and spirits segment in
Aspri is one of the leading players in
At Aspri the belief is to keep pace with the dynamic business
environment and to deliver success stories for their associates and self.
Mr. Arun Kumar
Mr. Kumar is a native of
He started his career with the Tobacco industry with Godfrey
Phillips and moved on to The Rothmans Group (Now B.A.T) and held senior
positions in Sales and Marketing focusing on the Travel Retail Industry
specializing in South Asia and the
He further moved on to the Dot com industry for a short period and
took a position in Guiness UDV (Diageo) heading the Travel Retail and select
domestic markets in South Asia working on the iconic brands of Johnnie Walker
and other premium brands in the portfolio.
Started up Subject as a Director with Mr. Jackie Matai with a
clear focus on strategy and business development of the organization.
Aspri Spirits was started 4 years ago with a vision to create an
organization to market and distribute the finest of international brands in the
wines, beer and spirits segment in
Four years hence Aspri is one of the leading players in
SERVICES
Aspri Spirits focuses on the sales, marketing and
distribution dedicated to building premium international wines, beer and
spirits in
Aspri over the time, with its commitment to ensure highest quality standards;
has established itself as a leading name in Import, Sales, Marketing and
Distribution of International Wines and Spirits. Aspri’s core strength lies in
delivering consistent growth by monitoring and supporting each of the
Portfolios/ Brands they represent. The company with its trained professionals
including Portfolio and Marketing management team constantly tracks changing
customer needs and preferences. Aspri’s growth has been founded on a consistent
philosophy: that to be able to deliver the range and quality of products
customers demand.
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.44.53 |
|
|
1 |
Rs.71.80 |
|
Euro |
1 |
Rs.63.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.