MIRA
INFORM REPORT
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Report Date : |
20.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TRAVEL POST PRIVATE LIMITED |
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Registered
Office : |
5 Sahni Niwas Khar West, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.07.1993 |
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Com. Reg. No.: |
11-72751 |
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Capital
Investment/ Paid-up Capital: |
Rs. 29.902
Millions |
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CIN No.: [Company Identification
No.] |
U63040MH1993PTC072751 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT05285A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Travel Agent |
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No. of
Employees: |
Approximately 44 |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 220000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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 (GENERAL DETAILS)
|
Name : |
Ms. Princy |
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Designation : |
Account Manager |
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Contact No.: |
91-22-26485000 |
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Date : |
19.07.2011 |
LOCATIONS
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Registered Office : |
5 Sahni Niwas Khar West, |
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Tel. No.: |
91-22-26485000/ 26044444 |
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Fax No.: |
91-22-26055250 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Branch Office : |
2/3, Krishna Chambers, North Main Roadl, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Bilkish Nasrulla Tejani |
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Designation : |
Director |
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Address : |
A-46, Cozihom 251-Pali Hill, Bandra (West), Mumbai-400050, |
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Date of Birth/Age : |
12.03.1967 |
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Date of Appointment : |
08.07.1993 |
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DIN No.: |
01846259 |
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Name : |
Mr. Nasrulla Sharuddin Tejani |
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Designation : |
Managing Director |
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Address : |
A-46, Cozihom 251-Pali Hill, Bandra (West), Mumbai-400050, |
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Date of Birth/Age : |
02.02.1959 |
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Date of Appointment : |
08.07.1993 |
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DIN No.: |
01846295 |
KEY EXECUTIVES
|
Name : |
Ms. Princy |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Nasrulla Sharuddin Tejani |
|
265902 |
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Bilkish Nasrulla Tejani |
|
33118 |
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Total |
|
299020 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Travel Agent |
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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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No. of Employees : |
Approximately 44 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
I Nagindas and Company Chartered Accountant |
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Address 1 : |
121, |
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Address 2: |
159, 2nd Floor, Reghuleela Mega |
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Tel. No.: |
91-22-31902225 |
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Mobile No.: |
91-9819487500 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
3000000 |
Equity Shares |
Rs. 100/- each |
Rs. 300.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
299020 |
Equity Shares |
Rs. 100/-
each |
Rs. 29.902
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
29.902 |
29.902 |
29.902 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.928 |
13.870 |
12.598 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
54.830 |
43.772 |
42.500 |
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LOAN FUNDS |
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1] Secured Loans |
25.033 |
27.635 |
28.127 |
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2] Unsecured Loans |
7.363 |
4.145 |
5.090 |
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TOTAL BORROWING |
32.396 |
31.780 |
33.217 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
87.226 |
75.552 |
75.717 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
86.406 |
52.933 |
44.609 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.0000 |
0.000 |
1.961 |
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DEFERREX TAX ASSETS |
1.638 |
1.638 |
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 |
17.982
|
26.856 |
32.210 |
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Cash & Bank Balances |
4.514
|
3.087 |
2.618 |
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Other Current Assets |
0.000
|
0.000 |
0.735 |
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Loans & Advances |
6.577
|
8.803 |
12.496 |
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Total
Current Assets |
29.073
|
38.746 |
48.059 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
27.848 |
21.575 |
21.762 |
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Other Current Liabilities |
1.480
|
2.528 |
2.576 |
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Provisions |
0.563
|
1.360 |
0.733 |
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Total
Current Liabilities |
29.891
|
25.463 |
25.071 |
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Net Current Assets |
[0.818]
|
13.283 |
22.988 |
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MISCELLANEOUS EXPENSES |
0.000 |
7.698 |
6.159 |
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TOTAL |
87.226 |
75.552 |
75.717 |
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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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TOTAL INCOME |
31.185 |
37.259 |
39.901 |
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Less |
TOTAL EXPENDITURE |
30.294 |
36.431 |
39.146 |
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PROFIT BEFORE
TAX |
0.891 |
0.828 |
0.755 |
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Less |
TAX |
0.164 |
[0.414] |
[0.030] |
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PROFIT AFTER TAX
|
0.727 |
1.242 |
0.785 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.854 |
9.612 |
8.827 |
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BALANCE CARRIED
TO THE B/S |
11.581 |
10.854 |
9.612 |
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Earnings Per
Share (Rs.) |
38.73 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.33
|
3.41 |
1.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
|
0.90 |
0.81 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.14
|
1.31 |
1.37 |
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Current Ratio (Current Asset/Current Liability) |
|
0.97
|
1.52 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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Sundry Creditors for Payments (Airlines) |
7.155 |
5.771 |
10.421 |
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Sundry Creditors for Purchase (Supplier) |
20.693 |
15.749 |
11.293 |
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Sundry Creditors for Refund (Client) |
0.000 |
0.055 |
0.048 |
|
Total |
27.848 |
21.575 |
21.762 |
Trade References:
·
Reya Travel and Tour India Private Limited
·
Blue Stars
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U63040MH1993PTC072751 |
|
Name of the
company |
TRAVEL POST PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
5 Sahni Niwas Khar West, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Development Credit Bank Limited, 301, Delta Plaza, 414, Veer Savarkar
Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation Dated 25.10.2010 Working Capital
Agreement Dated 25.10.2010 (Both the
Agreements constituting A Single Charge) Nature of
Facility: Adhoc Cash Credit : Rs. 3.500 Millions |
|
Date of
instrument Creating the charge |
25.10.2010 |
|
Amount secured by
the charge |
Rs. 3.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest DCB’s Benchmakr
Prime Lending Rat e- 2.75%, Min. 12.75% p.a. (Pr. BPLR 15.5%) Terms of
Repayment On Demand/ 60
days from the date of disbursement Margin 40% on Book Debts
> 90 Days Extent and
Operation of the charge The charge is
operative and created for Rs. 3.500 Millions |
|
Short particulars
of the property charged |
The whole of the
moveable properties of the borrower including its existing and future
moveable plant and machinery, machinery spares, tools and accessories |
Fixed Assets:
- Office Equipments
- Software
- Air Conditioner
- Motor Car
- Furniture and Fixture
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.44.59 |
|
|
1 |
Rs.71.62 |
|
Euro |
1 |
Rs.62.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.