MIRA
INFORM REPORT
|
Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOMLI MEDIA INDIA PRIVATE LIMITED |
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Registered
Office : |
201, Crystal Plaza, 158, C.S.T. Road, Kalina, Santacruz (East), Mumbai
– 400098, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.12.2008 |
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Com. Reg. No.: |
11-188658 |
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Capital
Investment / Paid-up Capital : |
Rs.110.940
Millions |
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CIN No.: [Company Identification
No.] |
U74300MH2008PTC188658 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK18732A |
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PAN No.: [Permanent Account No.] |
AADCK5576H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
They are engaged into Advertising Agency. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (14) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appear
huge accumulated losses and profitability is under pressure. However trade
relations are reported to be fair. Business is active. Payments are reported
to be slow. The company can be considered for business dealing on a secured 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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Aziz |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-67722700 |
|
Date : |
06.08.2012 |
LOCATIONS
|
Registered Office/ Mumbai (HQ) : |
201, Crystal Plaza, 158, C.S.T. Road, Kalina, Santacruz (East), Mumbai
– 400098, Maharashtra, India |
|
Tel. No.: |
91-22-67722700/ 26665404/ 26665884 |
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Fax No.: |
91-22-26655280 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at: · Delhi · Bangalore · Chennai |
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Overseas Office : |
Located at: South East Asia · Singapore · Malaysia · Thailand · Indonesia · Philippines · Hong Kong · Vietnam Australia and
New Zealand · Sydney · Melbourne · New Zealand EMEA (Europe, Middle East and Africa) · United Kingdom · Dubai North America · USA · Canada |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mrs. Vaishali Yazad Cooper |
|
Designation : |
Director |
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Address : |
401, Rendezvous, 120/121, Perry Road, Bandra – West, Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
01.06.1973 |
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Date of Appointment : |
04.12.2008 |
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DIN No.: |
02418780 |
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|
Name : |
Mr. Akhay Garg |
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Designation : |
Director |
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Address : |
133, Jor Bagh, Lodhi Road, New Delhi – 110003, India |
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Date of Birth/Age : |
04.08.1978 |
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Date of Appointment : |
04.12.2008 |
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DIN No.: |
02420541 |
KEY EXECUTIVES
|
Name : |
Mr. Aziz |
|
Designation : |
Finance Executive |
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Name : |
Mr. Prashant Mehta |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
41 year |
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Qualification : |
MBA, University of Pennylvania – The Wharton School |
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|
Name : |
Mr. Satish Kadu |
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Designation : |
VP – Product |
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Date of Birth/Age : |
M. Tech, MBA |
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Qualification : |
35 years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
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No. of Shares |
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Komli Media, Inc., USA |
|
11093979 |
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Vaishali Cooper Jointly with Komli Media Inc., USA |
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1 |
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Total |
|
11093980 |
(AS ON 09.03.2012)
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Names of Allottees |
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No. of Shares
Allotted |
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Komli Media, Inc., USA |
|
5033846 |
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Total |
|
5033846 |
(AS ON 30.09.2011)
Equity Shares Break – up
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
They are engaged into Advertising Agency. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Not Available |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
BSR and Company Chartered Accountant |
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Address : |
Lower Parel, Mumbai , Maharashtra, India |
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PAN No.: |
AAIFB7357B |
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Holding company
: |
· Komli Media, Inc. |
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Companies under the
same management: |
· PubMatic India Private Limited |
CAPITAL STRUCTURE
(AFTER 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26072929 |
Equity Shares |
Rs.10/- each |
Rs.260.729
Millions |
|
|
|
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|
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11093980 |
Equity Shares |
Rs.10/- each |
Rs.110.940
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11093980 |
Equity Shares |
Rs.10/- each |
Rs.110.940
Millions |
|
|
|
|
|
NOTE:
(A) 15,000,000
equity shares of Rs.10/- each
(B) 11,093,980
equity shares of Rs.10/- each, fully paid-up (All shares are held by Komli
Media, Inc., the holding company together with its nominees)
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 |
110.940 |
67.882 |
17.443 |
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|
2] Share Application Money |
0.000 |
31.464 |
0.000 |
|
|
3] Reserves & Surplus |
0.506 |
0.463 |
0.341 |
|
|
4] (Accumulated Losses) |
(198.230) |
(84.675) |
(16.504) |
|
|
NETWORTH |
(86.784) |
15.134 |
1.280 |
|
|
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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TOTAL |
(86.784) |
15.134 |
1.280 |
|
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.710 |
1.942 |
0.170 |
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Capital work-in-progress |
1.218 |
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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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
133.585
|
46.505 |
12.794 |
|
|
Cash & Bank Balances |
16.524
|
7.463 |
3.604 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
10.457
|
3.246 |
1.068 |
|
Total
Current Assets |
160.566
|
57.214 |
17.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
230.252
|
37.226 |
14.055 |
|
|
Other Current Liabilities |
22.318
|
5.955 |
1.771 |
|
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Provisions |
1.708
|
0.841 |
0.530 |
|
Total
Current Liabilities |
254.278
|
44.022 |
16.356 |
|
|
Net Current Assets |
(93.712)
|
13.192 |
1.110 |
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
(86.784) |
15.134 |
1.280 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
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Income |
|
84.525 |
|
|
|
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Other Income |
|
1.665 |
|
|
|
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TOTAL |
278.195 |
86.190 |
11.738 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
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TOTAL |
390.148 |
153.993 |
28.215 |
|
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(111.953) |
(67.803) |
(16.477) |
|
|
|
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|
|
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Less/ Add |
DEPRECIATION/ AMORTISATION |
1.603 |
0.368 |
0.028 |
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PROFIT BEFORE
TAX |
(113.556) |
(68.171) |
(16.505) |
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|
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|
|
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|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
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PROFIT AFTER TAX
|
(113.556) |
(68.171) |
(16.505) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(12.64) |
(19.70) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(40.82)
|
(79.09) |
(140.61) |
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(80.65) |
NA |
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|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(68.29)
|
(115.24) |
(93.59) |
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
1.31
|
(4.50) |
(12.89) |
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|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.93)
|
2.91 |
12.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.63
|
1.30 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
Creditors due others |
230.252
|
37.226 |
14.055 |
|
|
|
|
|
|
Total |
230.252
|
37.226 |
14.055 |
NOTE:
(A) Note: On the
basis of the information and records available with the management, there are
no dues payable to the micro and small enterprises, who have registered with
the competent authorities. As the Company has not received any intimation from
supplier regarding the status i.e. about their registration under the Micro,
Small and Medium Enterprises Development Act (MSMED), the required disclosure
in term of Section 22 of Micro, Small and Medium Enterprises Development Act,
2006 has not been made.
(B) 1.[*includes
dues to Komli Media, Inc., the holding company Rs.178.299 Millions and maximum
outstanding balance during the period Rs.178.299 Millions].
2. [**includes
Rs.0.600 Million due to PubMatic India Private Limited- group company and
maximum outstanding balance during the year Rs.2.732 Millions].
3. Includes:-
other creditors * Rs.204.371 Millions - for expenses ** Rs.25.880 Millions.
|
Check list by info
Agents |
Available in Report (Yes/ No) |
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|
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
No |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
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Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
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Major Suppliers |
No |
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Major Customers |
No |
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Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
No |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
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Major Shareholders, if available |
Yes |
|
PAN of
Proprietor/Partner/Director, if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
No |
NOTE:
The Registered office of the company has been
shifted from Kuber Niwas, Ground Floor, Bungalow No.2, Meera Baug Road,
Santacruz (West), Mumbai – 400054, Maharashtra, India, to the present address
w.e.f. 18.07.2011.
FINANCIAL RESULTS:
The company has earned income of Rs.278.195
Millions and has incurred loss of Rs.113.556 Millions after making provision
for depreciation of Rs.1.603 Million.
BACKGROUND
Komli Media India Private
Limited (“Komli Media” or “the Company”), was incorporated on 4 December 2008.
99.99 % of the share capital is held by Komli Media, Inc., the holding company.
The Company is a
digital advertising and technology Company enabling marketers to reach and
acquire their audiences and publishers to maximize their revenues. Company
powers an ad-network platform with solutions across lead acquisition, audience
targeting, rich media, online audience measurement and brand impact
measurement. Company also represents premium content channels in Autos,
Lifestyles, News, Sports, Technology, Entertainment, Youth and Business and
Finance segments over the Internet.
FIXED ASSETS:
· Office Equipment
· Furniture and Fixture
· Computer Software
PRESS RELEASE
NVP, EXISTING
INVESTORS INVESTS $39MN IN KOMLI MEDIA
12 June 2012
Komli Media has raised $39Mn from Norwest Venture Partners, Western Technology Investment and its
existing investors Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson.
The funds raised will be used to invest in the company's core media
technology platforms and to expand its presence across the Asia Pacific region.
Till date, the company has raised around $62Mn through VC and PE
investors.
Founded in 2006 by Amar Goel, Mumbai-based Komli Media provides ad
network platform with solutions across performance marketing, social media,
video advertising, audience targeting, rich media, online audience measurement
and brand impact measurement. ViziSense, an online audience measurement and ad
spends benchmarking platform is powered by Komli Media.
Recently, Komli Media acquired Singapore based-online advertising
network AdMax Network.
Last
year, Komli acquired India business of video advertising venture Jivox. It also
acquired mobile advertising and publishing network ZestADZ to foray in to
mobile advertising business.
In
2011, Komli raised $15Mn from Norwest Venture Partners, Helion Venture Partners
and Nexus Venture Partners. This was company's third round of funding. First
was in 2008, when it raised $7 Mn followed by second round of $6 Mn in 2010
from Nexus, Helion and DFJ.
Recently,
Amar Goel promoted PubMatic raised $45Mn from August Capital and existing
investors - Draper Fisher Jurvetson, Nexus Venture Partners, Helion Ventures
and Silicon Valley Bank.
In
the space, Bharti Softbank Holdings acquired 49% stake in Y2CF Digital Media -
a mobile device agnostic location based service provider, for about R40Cr;
Trivone Digital Services acquired Chakpak.com, entertainment portal and
wheelsunplugged.com, automobile destination portal to add media properties in
specific verticals and increase its presence in India.
Tyroo
and SeventyNine were also planning to raise $10Mn VC funding.
Norwest
Venture recent investments includes- Quikr-$32Mn, Manthan-$15Mn and
Pepperfry.com- 15Mn among others.
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
14 |
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.