MIRA
INFORM REPORT
|
Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ERNST AND YOUNG PRIVATE LIMITED (w.e.f. 08.08.2008) |
|
|
|
|
Formerly Known
As : |
ERNST AND YOUNG CONSULTANTS PRIVATE LIMITED |
|
|
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|
Registered
Office : |
22 Camac Street, Block C, 3rd Floor, Kolkata 700016, West
Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.01.2008 |
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Com. Reg. No.: |
121768 |
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Capital
Investment / Paid-up Capital : |
Rs.6.489 millions |
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CIN No.: [Company Identification
No.] |
U74120WB2008PTC121768 |
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|
Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Providing Management and Technical Consultancy |
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|
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3234744 |
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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 well established and reputed company having fine track.
The company is doing well. Trade relations are reported as fair. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Amrish Jhamb |
|
Designation : |
Finance Controller |
|
Date : |
15.06.2011 |
LOCATIONS
|
Registered Office : |
22 Camac Street, Block C, 3rd Floor, Kolkata 700016, West
Bengal, India |
|
Tel. No.: |
91-33-22811224 |
|
Fax No.: |
91-33-22817750 |
|
E-Mail : |
DIRECTORS
AS ON 23.09.2010
|
Name : |
Mr. Rajiv Memani |
|
Designation : |
Director |
|
Date of Birth/Age : |
28.01.1968 |
|
Date of Appointment : |
15.01.2008 |
|
|
|
|
Name : |
Mr. Jayesh Desai |
|
Designation : |
Director |
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Date of Birth/Age : |
17.12.1966 |
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Date of Appointment : |
17.12.1966 |
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|
|
|
Name : |
Mr. Gaurav Taneja |
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Designation : |
Director |
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Date of Birth/Age : |
30.04.1968 |
|
Date of Appointment : |
22.07.2008 |
|
|
|
|
Name : |
Mr. Pankaj Dhandharia |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.01.1969 |
|
Date of Appointment : |
22.07.2008 |
|
|
|
|
Name : |
Mr. Sunil Rewachand Chandiramani |
|
Designation : |
Director |
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Date of Birth/Age : |
24.12.1968 |
|
Date of Appointment : |
22.07.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
38.57 |
|
Other top fifty shareholders |
|
61.43 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Management and Technical Consultancy |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba
Road, New Delhi 110001, India |
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Facilities : |
Rs. In Millions
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|
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
Narendra Singhania and Company Chartered Accountant |
|
Address : |
P 6 2nd Floor, Green Park Extension, New Delhi 110016,
India |
|
Tel. No.: |
91-11-41649051 / 52 / 53 / 43156000 |
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Fax No.: |
91-11-41649080 |
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|
|
|
Subsidiary: |
·
Aventus Talent Acquisition Solutions Private
Limited CIN No.: U93091DL2006PTC148401 ·
Ernst and Young Merchant Banking Services Private
Limited CIN No.: U67120MH2000PTC129109 |
CAPITAL STRUCTURE
AS ON 23.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
648913 |
Equity Shares |
Rs. 10 each |
Rs.6.489 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.489 |
6.489 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
802.197 |
648.369 |
504.177 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
808.686 |
654.858 |
504.277 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
456.905 |
|
|
2] Unsecured Loans |
605.902 |
503.333 |
143.142 |
|
|
TOTAL BORROWING |
605.902 |
503.333 |
600.047 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
SHARE SUSPENSE ACCOUNTS |
0.000 |
0.000 |
6.389 |
|
|
|
|
|
|
|
|
TOTAL |
1414.588 |
1158.191 |
1110.713 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
476.299 |
502.065 |
438.625 |
|
|
Capital work-in-progress |
0.371 |
6.104 |
27.674 |
|
|
|
|
|
|
|
|
INVESTMENT |
52.056 |
54.611 |
355.564 |
|
|
DEFERREX TAX ASSETS |
0.000 |
74.125 |
68.474 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
2150.305
|
2106.255 |
1856.938 |
|
|
Cash & Bank Balances |
451.222
|
177.709 |
106.892 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1369.911
|
1394.404 |
1136.794 |
|
Total
Current Assets |
3971.438
|
3678.368 |
3100.624 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2170.466
|
2348.095 |
2272.654 |
|
|
Other Current Liabilities |
711.782
|
700.810 |
534.658 |
|
|
Provisions |
203.328
|
108.177 |
72.936 |
|
Total
Current Liabilities |
3085.576
|
3157.082 |
2880.248 |
|
|
Net Current Assets |
885.862
|
521.286 |
220.376 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1414.588 |
1158.191 |
1110.713 |
|
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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|
Sales |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
10171.396 |
9384.816 |
7968.331 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
9936.072 |
9083.001 |
7530.624 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
9936.072 |
9083.001 |
7530.624 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
235.324 |
301.815 |
437.707 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
235.324 |
301.815 |
437.707 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
235.324 |
301.815 |
437.707 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
81.496 |
157.623 |
236.674 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
153.828 |
144.192 |
201.033 |
|
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|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
4839.833 |
4877.125 |
3443.262 |
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Data Processing and Networking Equipments |
44.839 |
90.731 |
91.811 |
|
|
|
Computer Consumables |
0.105 |
13.311 |
3.012 |
|
|
|
Furniture, Fixtures and Other Equipments |
46.795 |
40.593 |
97.481 |
|
|
TOTAL IMPORTS |
91.739 |
144.635 |
192.304 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
237.06 |
222.21 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.51
|
1.53 |
2.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.29
|
7.21 |
12.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.46 |
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.56
|
5.58 |
6.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.16 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2010
|
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
2170.466
|
2348.095 |
2272.654 |
FIXED ASSETS:
·
Clients Database
·
Computer Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Leasehold Improvements
FORM 8
|
Corporate
identity number of the company |
U74120WB2008PTC121768 |
|
Name of the
company |
ERNST AND YOUNG PRIVATE LIMITED (w.e.f. 08.08.2008) |
|
Address of the
registered office or of the principal place of business in |
22 Camac Street, Block C, 3rd Floor, Kolkata 700016, West
Bengal, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23
Barakhamba Road, New Delhi 110001, India |
|
Nature of
instrument creating charge |
Unattested Memorandum
of Hypothecation. |
|
Date of
instrument Creating the charge |
18.09.2008 |
|
Amount secured by
the charge |
Rs. 1000.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Agreement Terms of repayment As Per Agreement Margin As Per Agreement Extent and operation of the charge Extent and
Operation - 100% |
|
Short particulars
of the property charged (Including location of the property) |
First and Exclusive
Hypothecation Charge Over Present and Future Receivables and Moveable Fixed
Assets of The Company (Exclusive The Assets of Shared Services Limited in
Bangalore). |
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.44.68 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.