MIRA
INFORM REPORT
|
Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AEGIS MEDIA INDIA PRIVATE LIMITED |
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Registered
Office : |
702 B Poonam Chambers - B wing, Dr. Annie Basant Road, Worli, Mumbai –
400018, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.08.2008 |
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Com. Reg. No.: |
186174 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Millions |
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CIN No.: [Company Identification
No.] |
U74900MH2008PTC186174 |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA33942g |
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PAN No.: [Permanent Account No.] |
AAHCA3058A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Advertising Services |
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No. of Employees
: |
13 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 22976 |
|
|
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|
Status : |
Satisfactory |
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|
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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 for small 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
|
Name : |
Mr. Joy Methew |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-30248127 |
|
Date : |
20.04.2012 |
LOCATIONS
|
Registered Office : |
702 B Poonam Chambers - B wing, Dr. Annie Basant Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-30248100 |
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Fax No.: |
91-22-30248127 |
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E-Mail : |
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Website : |
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|
Location : |
Rented |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ashish Madan Bhasin |
|
Designation : |
Director |
|
Address : |
Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
15.012.1964 |
|
Date of Appointment : |
26.08.2008 |
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|
|
|
Name : |
Mr. Anand Sharad Bhadkamkar |
|
Designation : |
Director |
|
Address : |
Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1972 |
|
Date of Appointment : |
17.11.2008 |
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|
|
|
Name : |
Mr. Kym Richard Pfitzner |
|
Designation : |
Director |
|
Address : |
Singapore |
|
Date of Birth/Age : |
01.01.1963 |
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Date of Appointment : |
15.07.2010 |
|
|
|
|
Name : |
Mr. Jonathan Mark Allard |
|
Designation : |
Director |
|
Address : |
Singapore |
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Date of Birth/Age : |
06.06.1974 |
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Date of Appointment : |
15.07.2010 |
|
Date of Ceasing: |
16.05.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Joy Methew |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Aegis Media Pacific Limited, London |
|
9999 |
|
Aegis Group Nominees Limited, London |
|
1 |
|
|
|
10000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Advertising Services |
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|
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
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|
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Purchasing : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
GENERAL INFORMATION
|
Customers : |
·
Corporate ·
Kingfisher |
|
|
|
|
No. of Employees : |
13 (Approximately) |
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|
|
|
Bankers : |
·
Citi Bank, Fort, Mumbai, India ·
HDFC Bank, Worli,
Mumbai. India |
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|
|
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, Opp Shiv Sagar
Estate, Worli, Mumbai – 400018, Maharashtra,
India |
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|
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Holding Company : |
Aegis Media Pacific Limited - UK |
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Subsidiaries : |
Vizeum Media Services India Private Limited |
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Sister Concern : |
Doosra Band Communication Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.644 |
1.842 |
1.295 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.744 |
1.942 |
1.395 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
5.744 |
1.942 |
1.395 |
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|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
0.777 |
0.594 |
0.243 |
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|
Capital work-in-progress |
0.000 |
0.030 |
0.000 |
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|
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INVESTMENT |
0.100 |
0.100 |
0.000 |
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|
DEFERREX TAX ASSETS |
1.107 |
0.197 |
0.175 |
|
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.00 |
|
|
Sundry Debtors |
47.272
|
30.100 |
1.122 |
|
|
Cash & Bank Balances |
3.307
|
5.149 |
11.150 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
3.312
|
3.023 |
0.911 |
|
Total
Current Assets |
53.891
|
38.272 |
13.183 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
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|
|
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Other Current Liabilities |
48.263 |
36.351 |
11.885 |
|
|
Provisions |
1.868
|
0.900 |
0.321 |
|
Total
Current Liabilities |
50.131
|
37.251 |
12.206 |
|
|
Net Current Assets |
3.760
|
1.021 |
0.977 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.744 |
1.942 |
1.395 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
|
|
|
|
|
|
|
TOTAL |
67.121 |
51.656 |
31.375 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
61.378 |
50.664 |
29.271 |
|
|
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|
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PROFIT BEFORE
TAX |
5.743 |
0.992 |
2.104 |
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|
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Less |
TAX |
1.941 |
0.445 |
0.809 |
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|
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PROFIT AFTER TAX
|
3.802 |
0.547 |
1.295 |
|
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|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.644 |
1.842 |
1.295 |
|
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|
|
|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
41.545 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.66
|
1.06 |
4.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.50
|
2.55 |
15.67 |
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.99
|
0.51 |
1.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.73
|
19.18 |
8.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.03 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Sundry Creditors details are not available
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
OPERATIONS:
Subject is into the
business of providing advertising and media related services. The Company essentially
provides services in digital advertising - such as media, SEO, web designing
etc.
During the period, the
company has earned an income of Rs.67.121 Millions as against Rs.51.656
Millions in the previous year. The Company has made a profit before tax of
Rs.5.742 Millions as compared to Rs.0.992 Million in the previous year. After
making provision for taxation Rs.1.940 Millions the net profit after tax stood
to Rs. 3.801 Millions as compared to Rs.0.547 Million
in the previous year. The Company is looking to hire more people to drive its
business in 2011 and also to expand further into digital solutions.
The Directors feel that
with these initiatives, the Company will achieve higher profitability in the
coming years and will establish itself as a leading digital media solutions
provider in the Country.
NOTE:
The registered office address of the company
has been shifted from 81-A, Barodawala Mansion, Dr. A
.B Road
Mumbai – 400018, Maharashtra,
India to 12, Mittal Chambers, 1st Floor, Opp. Inox Theatre, Nariman Point, Mumbai – 400021, Maharashtra,
India w.e.f. 01.09.2008
The registered office address of the company
has been shifted from 12, Mittal Chambers, 1st Floor,
Opp. Inox Theatre, Nariman Point, Mumbai – 400021, Maharashtra,
India to present address w.e.f. 16.07.2011
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.51.99 |
|
|
1 |
Rs.83.53 |
|
Euro |
1 |
Rs.68.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
|
42 |
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.