MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AMADEUS INDIA PRIVATE LIMITED |
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Registered
Office : |
E-9, Connaught House, Connaught Place, New Delhi – 110001, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.03.1994 |
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Com. Reg. No.: |
55-057786 |
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Capital
Investment / Paid-up Capital : |
Rs.5.100 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1994PTC057786 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing IT and software services |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 4700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a leading provider of IT Solutions to the Indian travel and
Tourism industry. It is an established company having fine track. Financial position of
the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
E-9, Connaught House, Connaught Place, New Delhi – 110001, Delhi,
India |
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Tel. No.: |
91-11-23418199 / 23414172 |
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Fax No.: |
91-11-23416112 / 23412766 |
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E-Mail : |
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Website : |
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Product Development / Corporate Headquarter: |
Amadeus
India, Plot No. 7, Local Shopping Center, Sector- C, Pocket 6 and 7, Vasant
Kunj, New Delhi – 110 070, Delhi, India |
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E-Mail : |
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Marketing and Corporate Communication : |
Amadeus India, E-9
Connaught House, Connaught Place, New Delhi – 110001, Delhi, India |
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Tel. No.: |
91-11-23418199 / 23414172 |
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Fax No.: |
91-11-23416112 / 23412766 |
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E-Mail : |
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Branches : |
Located At : ·
Nagpur ·
Mumbai ·
Indore ·
Goa ·
Ahmadabad · Guwahati ·
Kolkata ·
Trichy ·
Thiruvananthapuram ·
Mangalore · Hyderabad ·
Coimbatore ·
Kochi ·
Chennai
·
Calicut ·
Bangalore ·
Varanasi ·
Lucknow ·
Kanpur
·
Chandigarh ·
Jaipur · Jalandhar ·
Agra · New Delhi |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mrs. Radha Bhatia |
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Designation : |
Director |
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Address : |
B-6/5, Vasant Vihar, New Delhi – 110057, Delhi, India |
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Date of Appointment : |
08.03.1994 |
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Election Commission Card No.: |
DL02 010240564 |
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Din No.: |
00003385 |
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Name : |
Mr. Ankur Bhatia |
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Designation : |
Director |
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Address : |
B-6/5, Vasant Vihar, New Delhi – 110057, Delhi, India |
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Date of Appointment : |
07.07.1995 |
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Election Commission Card No.: |
DL02 010240563 |
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Din No.: |
00911850 |
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Name : |
Mr. Vijay Bhatia |
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Designation : |
Director |
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Address : |
B-6/5, Vasant Vihar, New Delhi – 110057, Delhi, India |
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Date of Appointment : |
01.04.2005 |
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Din No.: |
00003389 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Vijay Bhatia |
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183 |
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Bhatia Radha |
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242624 |
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Ankur Bhatia |
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241693 |
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Bird Travels P Limited, New Delhi |
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25500 |
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Total |
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510000 |
AS ON 30.09.2010
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Category |
Percentage |
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Bodies corporate |
5.00 |
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Directors or relatives of Directors |
95.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing IT and software services |
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Products : |
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GENERAL INFORMATION
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Bankers : |
Schedule Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sethi And Mehra Chartered Accountant |
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Address : |
80, Darya Ganj, New Delhi – 110002, Delhi, India |
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Tel No.: |
91-11-23275798 |
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Fax No.: |
91-11-23271213 |
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E-Mail : |
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Subsidiary Companies : |
·
BirdRes Technologies Private Limited (Formerly
Electronic Software Solutions (India) Private Limited) CIN No.: U72200DL1999PTC100517 ·
Bird Air Services Private Limited ·
Amadeus Lanka (Private) Limited ·
Global Travel Distribution Bangla Private Limited ·
Amadeus Nepal Private Limited ·
Ganga Banks Resorts Private Limited CIN No.: U55101DL1998PTC093636 ·
Goa Inn Private Limited CIN No.: U74899DL1995PTC067653 ·
Bird Airport Hotel Private Limited CIN No.: U55101DL2009PTC190615 |
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Associates : |
·
Adelco Pharmaceuticals Private Limited ·
Bird Automotive Private Limited ·
Bird Consultancy Services Private Limited ·
Birds Education Society For Travel and Tourism ·
Bird Information Systems Private Limited ·
Bird Travel Private Limited ·
Bird Wings ·
BirdWorldwide Flight Services (India) Private
Limited ·
Concept Work ·
Gitanjali Travels ·
Hamlet Farms Private Limited ·
Harvest Farms Private Limited ·
Heavenly Farms Private Limited ·
Peackok International |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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510000 |
Equity Shares |
Rs.10/- each |
Rs.5.100
Millions |
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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 |
5.100 |
5.100 |
5.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1177.203 |
727.680 |
527.076 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1182.303 |
732.780 |
532.176 |
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LOAN FUNDS |
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1] Secured Loans |
19.847 |
19.931 |
0.534 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
19.847 |
19.931 |
0.534 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1202.150 |
752.711 |
532.710 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
812.449 |
735.366 |
632.239 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
220.519 |
65.519 |
65.519 |
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DEFERREX TAX ASSETS |
28.094 |
18.396 |
6.274 |
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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 |
212.278
|
292.730 |
270.917 |
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Cash & Bank Balances |
527.032
|
337.621 |
71.946 |
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Other Current Assets |
16.782
|
11.500 |
0.061 |
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Loans & Advances |
1255.866
|
692.070 |
635.857 |
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Total
Current Assets |
2011.958
|
1333.921 |
978.781 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Other Current Liabilities |
1407.052
|
1166.810 |
935.597 |
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Provisions |
463.818
|
233.681 |
214.506 |
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Total
Current Liabilities |
1870.870
|
1400.491 |
1150.103 |
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Net Current Assets |
141.088
|
(66.570) |
(171.322) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1202.150 |
752.711 |
532.710 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES AND OTHER
INCOME |
2253.880 |
1794.368 |
1530.399 |
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Less |
EXPENSES |
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Office Expenses |
1510.979 |
1343.641 |
1149.420 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
1510.979 |
1343.641 |
1149.420 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
742.901 |
450.727 |
380.979 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
64.923 |
63.644 |
41.308 |
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PROFIT BEFORE
TAX |
677.978 |
387.083 |
339.671 |
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Less |
TAX |
110.452 |
70.527 |
59.584 |
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PROFIT AFTER TAX
|
567.526 |
316.556 |
280.087 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
579.596 |
410.752 |
129.599 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
56.755 |
31.760 |
0.000 |
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Dividend |
0.000 |
100.00 |
0.000 |
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Tax on Dividend |
0.000 |
16.995 |
0.000 |
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Proposed Dividend |
102.000 |
0.000 |
0.000 |
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Tax on Proposed Dividend |
16.940 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
972.364 |
579.596 |
410.752 |
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EARNINGS IN
FOREIGN CURRENCY |
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CIF Value |
0.354 |
0.114 |
1.795 |
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TOTAL EARNINGS |
0.354 |
0.114 |
1.795 |
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Earnings Per
Share (Rs.) |
1112.80 |
620.70 |
549.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
25.17
|
17.64 |
18.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.00
|
15.29 |
17.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.57
|
0.52 |
0.63 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.59
|
1.93 |
2.16 |
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Current Ratio (Current Asset/Current Liability) |
|
1.07
|
0.95 |
0.85 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Company has achieved
a total income from operations of Rs. 2167.628 millions for the year ended 31st
March, 2010 which is an increase of approx. 29 % as compared to 11 % in the
previous year. Further the net profit of the Company has also increased
significantly by approx. 79% over the previous year's profit.
SUBSIDIARY
COMPANIES
The Subsidiaries
of the Company are MIS Amadeus Lanka Private Limited, MIS Global Travel
Distribution Bangla Private Limited, MIS Amadeus Nepal Private Limited, M/s
BirdRes Technologies Private Limited, MIS Gangs Banks Resorts Private Limited,
M/s Goa Inn Private Limited and MIS Bird Air Services Private Limited. However
during the year under review, the Company also made investment in the Equity
shares of Bird Airport Hotel Private Limited and the Company was allotted
180,000 Equity Shares of face value of Rs. 101- each, thus malting Bird Airport
Hotel Private Limited as a subsidiary Company. Also after the date of Balance
Sheet but before the date of signing of Balance Sheet the Company made an
investment in the, Equity shares of Bird Hospitality Services Private Limited
and the Company was allotted 40,100 Equity shares of Face Value of Rs. 101-
each and thus the Company has become the Holding of Bird Hospitality Services
Private Limited.
FIXED ASSETS :
·
Land
·
Air Conditioner
·
Building
·
Data Processing Device
·
Other Equipment
·
Electrical Fittings
·
Generator Set
·
Office Equipments
·
Vehicles
·
Safety Equipments
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. 44.89 |
|
|
1 |
Rs. 73.84 |
|
Euro |
1 |
Rs. 64.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
62 |
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.