MIRA
INFORM REPORT
|
Report Date : |
20.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
ISS INTEGRATED FACILITY SERVICES PRIVATE LIMITED (w.e.f. 12.06.2007) |
|
|
|
|
Formerly Known
As : |
CLEANTEC HOSPITALITY SERVICES PRIVATE LIMITED |
|
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Registered
Office : |
Pirojshah Nagar, Godrej Compound, Eastern |
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Country : |
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Financials (as on)
: |
31.03.2011 |
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|
Date of
Incorporation : |
15.02.1999 |
|
|
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|
Com. Reg. No.: |
11-118360 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 5.771 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55203MH1999PTC118360 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11100F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8682K |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Provide Catering, |
|
|
|
|
No. of Employees
: |
20000 (Approximately) (Office 3000 + Branches 17000) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 970000 |
|
|
|
|
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 appears
some accumulated losses recorded by the company. However, Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 : |
Name denied to Disclose |
|
Designation : |
Accounts Department |
|
Date : |
18.08.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
Pirojshah Nagar, Godrej Compound, Eastern |
|
Tel. No.: |
91-22-25197066 / 2519 7866 |
|
Fax No.: |
91-22-25197065 |
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E-Mail : |
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|
Website : |
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|
Area : |
10000 Sq. ft. |
|
Location : |
Rented |
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|
Branch : |
Unit No. 229 – 230, 2nd Floor, Gundacha Industrial Complex,
Next to Big Bazaar, Akurli Road, Kandivali (E), Mumbai – 400101, Maharashtra,
India |
|
Tel. No.: |
91-22-28464514 |
|
Fax No.: |
91-22-28464510 |
|
Area : |
1000 Sq. Fts |
|
Location : |
Rented |
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|
|
|
Regional Office: |
Located at: ·
Kandivali ·
Pune ·
Lonavala ·
·
·
Korba ·
·
·
Kolkata ·
·
Gurgaon ·
Chennai ·
·
·
·
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jolly Joseph Kochery |
|
Designation : |
Director |
|
Address : |
905-906, “C” Tower Oberoi Springs, Off |
|
Date of Birth/Age : |
01.08.1956 |
|
Qualification : |
B.A. and Management in Catering |
|
Experience : |
30 Years |
|
Date of Appointment : |
22.04.2006 |
|
DIN No.: |
00176549 |
|
|
|
|
Name : |
Mr. Doreswamy Palaniswamy |
|
Designation : |
Director |
|
Address : |
604, Jeevan Sapna Building, No. 5, Patel Nagar Kandivali (W), Mumbai –
400067, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1973 |
|
Qualification : |
Chartered Accountant and B.B.A. |
|
Experience : |
10 Years |
|
Date of Appointment : |
14.12.2006 |
|
DIN No.: |
01251023 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
ISS Facility Services ( |
|
577071 |
|
ISS Facility Services ( |
|
10 |
|
|
|
|
|
Total |
|
577081 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide Catering, |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
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|
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
·
Corporate |
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No. of Employees : |
20000 (Approximately) (Office 3000 + Branches 17000) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
St Floor Lodha Excelus Apollo Mills, Compound N M Joshi Marg,
Mahalaxmi, Mumbai – 400 011, |
|
Tel. No.: |
91-22-39896000 |
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Fax No.: |
91-22-39836000 |
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PAN No: |
AAIFB4734C |
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|
|
|
Holding Company : |
CIN No. U74140MH2005PTC163481 |
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Ultimate Holding Company : |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 30.09.2011
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10/-each |
Rs. 7.500 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
577081 |
Equity Shares |
Rs. 10/-each |
Rs. 5.771
millions |
|
|
|
|
|
|
|
|
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.771 |
5.771 |
5.771 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
403.079 |
403.079 |
403.079 |
|
|
4] (Accumulated Losses) |
(165.088) |
(107.028) |
(43.104) |
|
|
NETWORTH |
243.762 |
301.822 |
365.746 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
338.562 |
170.680 |
117.527 |
|
|
TOTAL BORROWING |
338.562 |
170.680 |
117.527 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
582.324 |
472.502 |
483.273 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
88.009 |
73.831 |
91.756 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
131.272 |
131.271 |
203.325 |
|
|
DEFERREX TAX ASSETS |
73.000 |
47.150 |
21.596 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.501
|
4.356 |
3.903
|
|
|
Sundry Debtors |
343.536
|
300.735 |
215.274
|
|
|
Cash & Bank Balances |
57.771
|
46.021 |
73.049
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
263.545
|
166.561 |
121.224
|
|
Total
Current Assets |
672.353
|
517.673 |
413.450 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
256.167
|
192.089 |
|
|
|
Other Current Liabilities |
64.374
|
58.854 |
|
|
|
Provisions |
61.769
|
46.480 |
32.044 |
|
Total
Current Liabilities |
382.310
|
297.423 |
246.854 |
|
|
Net Current Assets |
290.043
|
220.250 |
166.596 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
582.324 |
472.502 |
483.273 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1346.710 |
1085.520 |
|
|
|
Other Income |
|
12.150 |
2.270 |
|
|
|
TOTAL |
|
1358.860 |
1087.790 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
56.700 |
58.470 |
|
|
|
Direct Operational Expenses |
|
222.070 |
145.320 |
|
|
|
Employee Cost |
|
874.420 |
714.010 |
|
|
|
General and Admin Expenses |
|
160.780 |
142.840 |
|
|
|
Diminution in Value of Investments |
|
72.050 |
0.000 |
|
|
|
Financial Expenses |
|
13.190 |
15.860 |
|
|
|
Depreciation/ Amortisation |
|
31.980 |
26.860 |
|
|
|
TOTAL |
|
1431.190 |
1103.360 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
(72.270) |
(15.560) |
|
|
|
|
|
|
|
|
|
|
TAX |
|
8.360 |
(3.770) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
(63.920) |
(19.320) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE LOSS BROUGHT FORWARD |
|
(43.100) |
(23.780) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(107.020) |
(43.100) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Rebate Received |
|
NA |
1.163 |
|
|
TOTAL EARNINGS |
|
NA |
1.163 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
NA |
4.496 |
|
|
TOTAL IMPORTS |
|
NA |
4.496 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(110.77) |
(40.48) |
|
NOTE:
The company has filed its March 2011 Profit and Loss A/c details but the
figures seems to be incorrect. Accordingly, we have not included the 2011
Profit and Loss a/c figures in the report.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(4.70) |
(1.77) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(5.36) |
(1.43) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(0.12) |
(0.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.24) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.96
|
1.55 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.74 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITERS
DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due to others |
256.167 |
192.089 |
|
|
Customer deposit payable current |
0.000 |
0.617 |
|
|
Other current liabilities |
64.374 |
58.237 |
NA |
|
|
|
|
|
|
TOTAL |
320.541 |
250.943 |
NA |
|
Sr. No. |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
Registered office of the company has been
shifted from 3 – B, 3rd Floor, Gold Line Business Centre,
FIXED ASSETS:
·
Building and Building
Improvements
·
Office Equipments
·
Computer Equipments
·
Furniture and Fixtures
·
Motor Vehicles
·
Leasehold Properties
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.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
28 |
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.