MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
MX ADVERTISING PRIVATE LIMITED |
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Registered
Office : |
Unit 5, Amar Industrial Estate 159, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.05.1995 |
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Com. Reg. No.: |
11-088275 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U74300MH1995PTC088275 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM23266F |
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PAN No.: [Permanent Account No.] |
AABCA2808G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Advertising Agency and Allied Services. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 32000 |
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Status : |
Satisfactory |
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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 normal for small to mediocre 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
Management Non- Cooperative
LOCATIONS
|
Registered Office : |
Unit 5, Amar Industrial Estate 159, CST Road, Kalina (East), Mumbai-
400098, Maharashtra, |
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Tel. No.: |
91-22-40828888 |
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Fax No.: |
91-22-40828888 |
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E-Mail : |
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Website: |
DIRECTORS
As on 23.09.2011
|
Name : |
Mrs. Neepa Ajit Nair |
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Designation : |
Whole Time Director |
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Address : |
A-1, Flat – 2, GRD. Floor, M.I.G. C.H.S., Bandra East, Mumbai –
400051, |
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Date of Birth/Age : |
16.10.1965 |
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Date of Appointment : |
10.05.1995 |
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DIN No.: |
00010796 |
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Name : |
Mr. Ajit Bhaskar Nair |
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Designation : |
Whole Time Director |
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Address : |
A-1, Flat – 2, GRD. Floor, M.I.G. C.H.S., Bandra East, Mumbai –
400051, |
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Date of Birth/Age : |
12.02.1964 |
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Date of Appointment : |
10.05.1995 |
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DIN No.: |
00010837 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Neepa Ajit Nair |
|
2500 |
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Ajit Bhaskar Nair |
|
2500 |
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Total |
|
5000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2011
|
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 : |
Advertising Agency and Allied Services. |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by management |
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Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India |
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(Rs.
In Millions) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Girish S Watwe and Associates Chartered Accountants |
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Address : |
202, Garden View, |
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Tel No.: |
91-22-26255757/26205757 |
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PAN.: |
AAJPW1566A |
CAPITAL STRUCTURE
As on 23.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
5000 |
Equity Shares |
Rs.100/-
each |
Rs. 0.500
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.633 |
7.593 |
7.248 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.133 |
8.093 |
7.748 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
6.675 |
6.799 |
9.711 |
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TOTAL BORROWING |
6.675 |
6.799 |
9.711 |
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DEFERRED TAX LIABILITIES |
0.443 |
0.406 |
0.419 |
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TOTAL |
15.251 |
15.298 |
17.878 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.525 |
7.750 |
8.481 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX 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 |
54.909
|
37.666 |
37.571 |
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Cash & Bank Balances |
0.294
|
7.935 |
6.699 |
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Other Current Assets |
0.116
|
0.141 |
0.128 |
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Loans & Advances |
8.603
|
7.683 |
9.027 |
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Total
Current Assets |
63.922
|
53.425 |
53.425 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
40.317
|
34.493 |
25.300 |
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Other Current Liabilities |
14.044
|
9.029 |
15.740 |
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Provisions |
1.835
|
2.355 |
2.988 |
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Total
Current Liabilities |
56.196
|
45.877 |
44.028 |
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Net Current Assets |
7.726
|
7.548 |
9.397 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.251 |
15.298 |
17.878 |
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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 |
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Income |
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Other Income |
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TOTAL |
81.564 |
47.397 |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
79.163 |
45.878 |
NA |
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PROFIT BEFORE
TAX |
2.402 |
1.519 |
1.876 |
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Less |
TAX |
1.777 |
0.946 |
NA |
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PROFIT AFTER TAX |
0.625 |
0.930 |
NA |
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Earnings Per
Share (Rs.) |
125.08 |
186.00 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.76
|
1.96 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.75
|
2.84 |
3.51 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.18 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.90
|
5.66 |
5.68 |
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Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.16 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
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Sundry Creditors for Expenses |
40.317
|
34.493 |
25.300 |
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
FINANCIAL RESULTS:
The Company has
earned a profit before tax of Rs.2.402
Millions as compared with Rs.1.519
Millions in the previous year. After providing for current year tax and
Deferred Tax Assets as per AS 22 the Profit after tax is Rs 0.625 Million.
CONTINGENT LIABILITIES NOT PROVIDED FOR: -
The Company has availed of Bank Guarantees from HDFC of Rs.1.000
Millions against the Fixed Deposits placed by the company with the bank.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74300MH1995PTC088275 |
|
Name of the
company |
MX ADVERTISING
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Unit 5, Amar Industrial Estate 159, CST Road, Kalina (East), Mumbai-
400098, Maharashtra, |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel
(W), Mumbai – 400013, Email: RBBform8@hdfcbank.com
|
|
Nature of
instrument creating charge |
Memorandum
Recording Past Transactions of creation of mortgage by delivery of Title
Deeds. |
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Date of
instrument Creating the charge |
11.04.2009 |
|
Amount secured by
the charge |
Rs. 12.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment On Demand Margin Company shall at
all times during the continuance of this security maintain the said debts of a sufficient amount to
provide the margin of security as may from time to time advised by the Bank. Extent and
Operation of the charge The Company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as security for the due repayment of Rs.12.5
Millions by Neepa Nair, Ajit Nair and M/s. MX Advertising Private limited,
("all the Borrower"), including principal amount of the Facility,
interest, liquidated damages, costs, charges and expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Immovable
properties lying and situated at Gala No.5, Amar Industrial Estate Premises, 159,
Kalina, Santacruz (East), Mumbai. |
FIXED ASSETS
·
Office Premises
·
Plant and Machinery
·
Telephone
·
Air Conditioner
·
Printers
·
Type Writer
·
Refrigerator
·
Photo Enlarger
·
Fax
·
Television
·
Slide Projector
·
Water Purifier
·
Fire Extinguisher
·
Microwave Oven
·
Miscellaneous Office Equipment
·
DVD Player
·
Electrical Fans
·
Furniture and Fixture
·
Computer
·
Computer Software
·
Scanner
·
Motor Cars
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.52.68 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
NO |
|
--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 |
|
43 |
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.