|
Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
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|
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Registered
Office : |
Level 2, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
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Date of
Incorporation : |
09.01.2010 |
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|
|
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Com. Reg. No.: |
55-197814 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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|
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CIN No.: [Company Identification
No.] |
U74140DL2010PTC197814 |
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Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Services Provider of Insurance, Financial affairs, Monetary affairs,
Real Estate affairs etc. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
a dip in the turnover also the company has incurred a loss in the current
year. 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
caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office : |
Level 2, |
|
Tel. No.: |
91-11-40601432 |
|
Fax No.: |
91-11 -40601235 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pankaj Karna |
|||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
C – 6/57, Safdarjung Development Area, |
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Date of Birth/Age : |
07.09.1970 |
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Date of Appointment : |
09.01.2010 |
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Din No.: |
02842348 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||
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Name : |
Mr. Kirit Sharat Javali |
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Designation : |
Director |
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Address : |
C -39, Niti Bagh, |
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Date of Birth/Age : |
12.02.1971 |
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Date of Appointment : |
09.01.2010 |
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Din No.: |
02266167 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pankaj Karna |
|
9900 |
|
Kirit Sharat Javali |
|
100 |
|
|
|
|
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Services Provider of Insurance, Financial affairs, Monetary affairs,
Real Estate affairs etc. |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
HDFC Bank ·
HSBC Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M J R A and Associates Chartered Accountant |
|
Address : |
102, B -3, Prerna Complex, Subhash Chowk, Laxmi Nagar, |
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Tel. No.: |
91-11-22451606 |
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E-Mail : |
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Pan No.: |
AAHFM0717D |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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|
|
|
|
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 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.146 |
5.639 |
0.270 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.246 |
5.739 |
0.370 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.027 |
0.199 |
0.065 |
|
|
TOTAL BORROWING |
0.027 |
0.199 |
0.065 |
|
|
DEFERRED TAX LIABILITIES |
0.028 |
0.029 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
5.301 |
5.967 |
0.443 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.586 |
0.638 |
0.191 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.198 |
0.000 |
|
|
Cash & Bank Balances |
3.629
|
8.922 |
0.371 |
|
|
Other Current Assets |
0.036
|
0.042 |
0.000 |
|
|
Loans & Advances |
1.669
|
2.491 |
0.161 |
|
Total
Current Assets |
5.334
|
11.653 |
0.532 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.183
|
1.210 |
0.090 |
|
|
Other Current Liabilities |
0.436
|
2.734 |
0.125 |
|
|
Provisions |
0.000
|
2.380 |
0.112 |
|
Total
Current Liabilities |
0.619
|
6.324 |
0.327 |
|
|
Net Current Assets |
4.715
|
5.329 |
0.205 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.047 |
|
|
|
|
|
|
|
|
TOTAL |
5.301 |
5.967 |
0.443 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
GROSS RECEIPT |
5.053 |
18.200 |
1.750 |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
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|
|
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|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.299) |
7.863 |
0.398 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.194 |
0.093 |
0.008 |
|
|
|
|
|
|
|
|
PROFIT /(LOSS)
BEFORE TAX |
(0.493) |
7.770 |
0.390 |
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.020 |
0.120 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(0.493) |
5.369 |
0.270 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(49.3) |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.33) |
63.22 |
53.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
5.74 |
1.35 |
1.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.12 |
1.14 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.62 |
1.84 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
Note:
The Registered office of the company has been
shifted from M-95, Grater Kailash – II,
AS PER WEBSITE DETAILS
Work history
Key M&A
Deals
Key
Structured Finance Deals
Education
NEWS AND RESEARCH
The Beer Café in
talks to raise up to $5M in PE funding, to open
20 outlets by 2013
Former Reebok exec director Rahul Singh acquired the stake held by former Carlsberg India MD chief Pradeep Gidwani in the venture and hopes to complete fund raise by early 2013.
The Beer Café, an alcobeverage cum quick service restaurant (QSR) chain conceptualized by former Carlsberg India MD Pradeep Gidwani and now solely owned by his business partner Rahul Singh, is close to raising up to $5 million in private funding to scale up its operations.
A source familiar with deal negotiations on conditions of anonymity said, “The firm has already got commitment for around $2 million from some private investors but they are trying to find private equity investors who can put $5 million into the company.”
When contacted, Singh who was earlier working with Reebok as an executive director, told VCCircle, “We are in talks with two to three PE investors to raise $2 million and the deal should be finalised in the next 2-3 months,” he said. He did not share names of the prospective investors.
The source mentioned above said BTB Marketing Pvt Ltd, which runs The Beer Cafe, is being advised by Maple Advisors on the deal.
When contacted, Pankaj Karna, MD at Maple Advisors, declined
to comment on the minute details but said, “The Beer Café is an ideal casual
cafe concept with right price points. All the four outlets of the alcobeverage
chain are profitable and that is important from scalability and investor
perspective. Scale is a very important factor in this business and The Beer
Cafe will soon expand to different cities and there exists a large market in
He further added that the unit economics of this chain is perfect and in the eating out business, casual dining and scalable chains are the real cash generators which interest investors.
Right now The Beer Café has four outlets and six more locations are planned for this year. “Each outlet takes around Rs 50- 70 lakh expenditure and the plan is to reach 20 outlets by 2013,” according to Singh.
The company is planning to spread reach to 10 cities which
includes
Singh, along with Pradeep Gidwani, had invested Rs 30.000 Millions in the firm last year and later bought out Gidwani from the venture.
As per consultancy firm Technopak Advisors, the total QSR
market size is $850 million of which casual dining comprises around $430
million and fine dining is $190 million. The recent past has seen a lot of
investor activity in the food chain business. Last month, there was talk that
Wipro founder Azmi Premji was investing $25 million in JSM Corp, which runs
Hard Rock Cafe and California Pizza Kitchen restaurants in
Recently Indian Angel Network invested an undisclosed amount
in Mexican Quick Service Restaurant Poncho in Mumbai. New
Last year, ICICI Ventures invested $33 million in RJ Corp's
Devyani International, which runs Pizza Hut, Costa Coffee and KFC chains across
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 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.54.20 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.