MIRA
INFORM REPORT
|
Report Date : |
18.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
YATRA ONLINE PRIVATE LIMITED |
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Registered
Office : |
93-B, Mittal Court, Nariman Point, Mumbai – 400 021, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.12.2005 |
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Com. Reg. No.: |
158404 |
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Capital
Investment / Paid-up Capital : |
Rs.44.316
millions |
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CIN No.: [Company Identification
No.] |
U63040MH2005FTC158404 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMY01729A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of providing reservation and
booking services relating to transport, travel, tours and tourism and
developing customized solutions in the areas of transport, travel, tours and
tourism for all types of travelers in India or abroad through the Internet,
call center and retail lounges. |
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No. of Employees
: |
Above 1000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2169000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
a huge 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. Profit and loss account of the company for the current year is not
available. |
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
|
Name : |
Mr. Deep Jyoti |
|
Designation : |
Zonal Accountant |
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Contact No.: |
91-9831877782 |
|
Date : |
16.07.2011 |
LOCATIONS
|
Registered Office : |
93-B, Mittal Court, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-66695000 |
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Mobile No.: |
91-9831877782 (Mr. Deep Jyoti) |
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E-Mail : |
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Website : |
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Corporate Office : |
21, Beside Park Hotel, |
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Tel. No.: |
91-33-40633281/ 82/ 83/ 85 |
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Branch Office : |
In all |
DIRECTORS
|
Name : |
Mr. Harshal Jyotindra Shah |
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Designation : |
Director |
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Address : |
10 and 13, Jayant Mahal, |
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Date of Birth/Age : |
16.12.1970 |
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Date of Appointment : |
09.10.2006 |
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DIN No.: |
00025520 |
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Name : |
Mr. Prerak Mayank Hora |
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Designation : |
Director |
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Address : |
105, A/2, Ganga Vihar, |
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Date of Appointment : |
28.12.2005 |
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Name : |
Ms. Khushboo Nilesh Baxi |
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Designation : |
Director |
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Address : |
801/2, Yash Apartment, 3/343, |
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Date of Appointment : |
28.12.2005 |
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Name : |
Mr. Dhruv Shringi |
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Designation : |
Director |
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Address : |
C 84, Inder Puri, |
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Date of Birth/Age : |
14.07.1973 |
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Date of Appointment : |
05.01.2006 |
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DIN No.: |
00334986 |
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Name : |
Mr. Sarbvir Jasbir Singh |
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Designation : |
Director |
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Address : |
House 46, Sector 37, Noida – 201 301, Uttar Pradesh, Indai |
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Date of Birth/Age : |
27.09.1971 |
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Date of Appointment : |
29.09.2010 |
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DIN No.: |
00509959 |
KEY EXECUTIVES
|
Name : |
Mr. Deep Jyoti |
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Designation : |
Zonal Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Yatra Online ( |
|
4431623 |
|
Yatra Online Inc.(Cayman Islands), |
|
1 |
|
Total |
|
4431624 |
As on 15.10.2010
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Names of Allottees |
|
No. of Shares |
|
Yatra Online ( |
|
102404 |
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Total |
|
102404 |
As on 25.09.2009
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the business of providing reservation and
booking services relating to transport, travel, tours and tourism and
developing customized solutions in the areas of transport, travel, tours and
tourism for all types of travelers in India or abroad through the Internet,
call center and retail lounges. |
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Products / Services : |
v
Air Passage v
Hotel v
Other Services |
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GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Above 1000 (Approximately) |
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Bankers : |
They have consortium with following banks: v
Citi Bank v
HDFC Bank Limited, HDFC Bank, House Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India v
ICICI Bank v
Hongkong and Shanghai Banking Corporation Limited v
Axis Bank |
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Facilities : |
Total facility enjoyed by these Bank – Approximately Rs.600.000
millions
* Secured by lien on the underlying assets. ** Secured by lien on fixed deposits with Banks. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
ISFRC and Associates Chartered Accountants |
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Name : |
S.R. Batliboi and Associates Chartered Accountants |
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Address : |
Golf View Corporate Tower B, Sector-42, Gurgaon – 122 002, |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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Holding Company : |
Yatra Online ( Address: Cassandra Centre Office, 201/202, 29, |
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Ultimate Holding Company : |
Yatra Online Inc., |
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Subsidiaries : |
Intech Hotel Solutions Private Limited CIN No.: U55101HR2008PTC038256 |
CAPITAL STRUCTURE
After 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4534028 |
Equity Shares |
Rs.10/- each |
Rs.45.340
millions |
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|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4431624 |
Equity Shares |
Rs.10/- each |
Rs.44.316
millions |
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|
|
|
|
4431624
equity shares are held by Yatra Online (
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 |
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|
|
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|
1] Share Capital |
44.316 |
44.316 |
18.000 |
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2] Share Application Money Pending Allotment |
0.000 |
0.000 |
269.659 |
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3] Reserves & Surplus |
1300.278 |
1300.277 |
508.149 |
|
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4] (Accumulated Losses) |
(802.457) |
(720.642) |
(575.297) |
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NETWORTH |
542.137 |
623.951 |
220.511 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
346.132 |
177.424 |
128.934 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
346.132 |
177.424 |
128.934 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
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TOTAL |
888.269 |
801.375 |
349.445 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
97.724 |
75.709 |
66.427 |
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Capital work-in-progress including capital advances |
3.851 |
11.997 |
11.525 |
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INVESTMENT |
20.100 |
0.100 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
|
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Sundry Debtors |
408.043
|
221.928 |
286.541 |
|
|
Cash & Bank Balances |
674.244
|
721.486 |
221.024 |
|
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Other Current Assets |
26.916
|
37.724 |
56.803 |
|
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Loans & Advances |
275.387
|
192.223 |
145.462 |
|
Total
Current Assets |
1384.590
|
1173.361 |
709.830 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
472.039
|
395.944 |
326.133 |
|
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Other Current Liabilities |
138.289
|
57.695 |
106.260 |
|
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Provisions |
7.668
|
6.153 |
5.944 |
|
Total
Current Liabilities |
617.996
|
459.792 |
438.337 |
|
|
Net Current Assets |
766.594
|
713.569 |
271.493 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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|
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|
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TOTAL |
888.269 |
801.375 |
349.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
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|
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Income |
NA |
752.711 |
499.125 |
|
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Other Income |
NA |
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TOTAL |
NA |
752.711 |
499.125 |
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|
|
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|
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|
Less |
EXPENSES |
|
|
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|
NA |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
894.772 |
958.185 |
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PROFIT BEFORE
TAX |
NA |
(142.061) |
(459.060) |
|
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|
Less |
TAX |
NA |
3.284 |
3.620 |
|
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PROFIT AFTER TAX
|
NA |
(145.345) |
(462.680) |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales (billing) |
225.131 |
21.251 |
0.000 |
|
|
|
Commission on Inbound tours |
32.656 |
20.258 |
3.415 |
|
|
|
Other Commissions |
2.049 |
5.915 |
0.000 |
|
|
TOTAL EARNINGS |
259.836 |
47.424 |
3.415 |
|
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|
|
|
|
|
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Earnings Per
Share (Rs.) |
NA |
(47.00) |
(3333.00) |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
960.000 |
950.000 |
|
|
|
|
|
The above information has been parted by Mr. Deep Jyoti (Zonal
Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
(19.31) |
(92.70) |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(11.37) |
(59.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.23) |
(2.08) |
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|
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|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.02 |
2.57 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24
|
2.55 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors: |
|
|
|
|
a) Total
outstanding dues of Micro and Small Enterprises |
-- |
-- |
-- |
|
b) Total
outstanding dues of creditors other than Micro and Small Enterprises |
472.039
|
395.944 |
326.133 |
NATURE OF
OPERAITONS:
The Company was incorporated on December 28, 2005. The Company is
engaged in the business of providing reservation and booking services relating
to transport, travel, tours and tourism and developing customized solutions in
the areas of transport, travel, tours and tourism for all types of travelers in
India or abroad through the Internet, call center and retail lounges.
TRADE REFERENCES:
v
Make My Trip
v
Cox and Kings Limited
FIXED ASSETS:
v Computers and Peripherals
v Furniture’s and Fixtures
v Office Equipment
v Leasehold Improvements
v Vehicles
v Web site development
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.71.90 |
|
Euro |
1 |
Rs.62.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
3 |
|
--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 |
|
27 |
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.