MIRA
INFORM REPORT
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Report Date : |
08.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ZENITH OUTDOORS PRIVATE LIMITED |
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Registered
Office : |
106, Jolly Bhauan No.110, New Marine Lines, Mumbai – 400020,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.01.1999 |
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Com. Reg. No.: |
11-118053 |
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Capital
Investment / Paid-up Capital : |
Rs.8.100
Millions |
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CIN No.: [Company Identification
No.] |
U74300MH1999PTC118053 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMZ00732E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Outdoor Advertising Agencies. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 270000 |
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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. There
appears some dip in the turnover of the company in the current year. However,
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 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.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Naveen |
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Designation : |
Accounts Department |
LOCATIONS
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Registered Office : |
106, Jolly Bhauan No.110, New Marine Lines, Mumbai – 400020, Maharashtra,
India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Administrative Office : |
104, Jolly Bhavan No.1, 10 New Marine Lines, Mumbai – 40020, |
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Tel. No.: |
91-22-66332999 |
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Fax No.: |
91-22-22006790 |
DIRECTORS
(AS ON 30.09.2011)
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Name : |
Mr. Yash Mahendra Gala |
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Designation : |
Director |
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Address : |
29-A1, Prithvi Apartments, 21, |
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Date of Birth/Age : |
05.02.1975 |
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Date of Appointment : |
28.01.1999 |
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DIN No.: |
00089178 |
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Other Directorship : |
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Name : |
Mr. Jigar Vasant Gala |
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Designation : |
Director |
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Address : |
29-A1, Prithvi Apartments, 21, |
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Date of Birth/Age : |
01.04.1970 |
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Date of Appointment : |
28.01.1999 |
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DIN No.: |
00089228 |
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Other Directorship : |
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KEY EXECUTIVES
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Name : |
Mr. Naveen |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
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Names of Shareholders |
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No. of Shares |
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Jigar Vasant Shah |
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92300 |
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Alpa Jigar Shah |
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44600 |
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Manisha Mahendra Gala |
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88468 |
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Harsha Vasant Shah |
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151713 |
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Yash Mahendra Gala |
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432919 |
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Total |
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810000 |
(AS ON 30.09.2011)
Equity Shares Break – up
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Outdoor Advertising Agencies. |
GENERAL INFORMATION
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· The Saraswat Co-op Bank Limited · ICICI Bank Limited · HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C. B. Mehta and Associates Chartered Accountant |
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Address 1: |
16, Vasant Niwas, Nehru Road, Opposite Shiv Sagar, Ville Parle East,
Mumbai – 400057, Maharashtra, India |
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PAN No.: |
ABDPM3812G |
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Address 2: |
2, Moti Villa, Azad Road, Near Milan subway, Vile Parle (East), Mumbai
– 400057, Maharashtra, India |
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Tel No.: |
91-22-26183609/ 26126792/ 26120471 |
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Email : |
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Website : |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Share |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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810000 |
Equity Share |
Rs.10/- each |
Rs.8.100
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.100 |
8.100 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
60.484 |
56.689 |
48.723 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
68.584 |
64.789 |
53.723 |
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LOAN FUNDS |
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1] Secured Loans |
33.762 |
40.750 |
74.384 |
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2] Unsecured Loans |
0.244 |
0.364 |
1.140 |
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TOTAL BORROWING |
34.006 |
41.114 |
75.524 |
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DEFERRED TAX LIABILITIES |
0.097 |
0.071 |
0.077 |
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TOTAL |
102.687 |
105.974 |
129.324 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.121 |
5.864 |
6.632 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.679 |
0.713 |
0.371 |
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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 |
115.801
|
126.478
|
93.069
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Cash & Bank Balances |
10.871
|
10.409
|
14.021
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Other Current Assets |
60.283
|
58.378
|
47.223
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Loans & Advances |
32.534
|
29.298
|
29.116
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Total
Current Assets |
219.489
|
224.563 |
183.429
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditor |
98.232
|
99.546
|
38.120
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Other Current Liabilities |
0.000
|
0.000
|
0.000
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Provisions |
27.370
|
25.620
|
22.990
|
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Total
Current Liabilities |
125.602
|
125.166 |
61.110
|
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Net Current Assets |
93.887
|
99.397 |
122.319
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
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TOTAL |
102.687 |
105.974 |
129.324 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
257.544 |
400.370 |
291.987 |
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Other Income |
2.038 |
3.491 |
4.539 |
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TOTAL (A) |
259.582 |
403.861 |
296.526 |
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Less |
EXPENSES |
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Employees Remuneration |
4.020 |
5.790 |
4.431 |
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Operating and General Administrative Expenses |
244.172 |
379.127 |
271.027 |
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TOTAL (B) |
248.192 |
384.917 |
275.458 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.390 |
18.944 |
21.068 |
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Less |
FINANCIAL
EXPENSES (D) |
4.541 |
6.094 |
5.713 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.849 |
12.850 |
15.355 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.277 |
1.088 |
0.898 |
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PROFIT BEFORE
TAX (E-F) (G) |
5.572 |
11.762 |
14.457 |
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Less |
TAX (H) |
1.777 |
3.797 |
5.717 |
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PROFIT AFTER TAX
(G-H) (I) |
3.795 |
7.965 |
8.740 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.688 |
48.723 |
41.153 |
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
-- |
-- |
1.000 |
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|
|
Tax on Dividend |
-- |
-- |
0.170 |
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|
BALANCE CARRIED TO
THE B/S |
60.483 |
56.688 |
48.723 |
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Earnings Per
Share (Rs.) |
4.69 |
9.83 |
17.48 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
1.46
|
1.97 |
2.95
|
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Net Profit Margin (PBT/Sales) |
(%) |
2.16
|
2.94 |
4.95
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.45
|
5.10 |
7.61
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.18 |
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.33
|
2.57 |
2.54
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.79 |
3.00
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The company’s operations has been decreased as compared to previous year
due to which there is a reduction in the profit for the year.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10038565 |
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Corporate
identity number of the company |
U74300MH1999PTC118053 |
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Name of the
company |
Zenith Outdoors
Private Limited |
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Address of the
registered office or of the principal place of business in |
106 Jolly Bhauan No-110 New
Marine Line, Mumbai – 400020, |
|
Type of charge |
Book Debts |
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Particular of
charge holder |
The Saraswat
Co-op Bank Limited 203/A,
Ramanjaneya Building, Dr Dadasaheb Bhadkamk Road, Grant Road (East), Mumbai –
400007, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation for additional advances (Supplementary deed) |
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Date of
instrument Creating the charge |
03.03.2008 |
|
Amount secured by
the charge |
Rs.42.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR + 0.50% =
13.50 p.a. Terms of
Repayment On demand or
renewable every year. Margin On Book debts
of 0-90 days - 30% On Book debts of
91-150 days - 50% Extent and
Operation of the charge N.A |
|
Short particulars
of the property charged |
1. Hypothecation
of Book debts (0 to 150 days less creditors). 2. Equitable
mortgage of office no. 104/105, Jolly Bhavan No. 1, 10, New Marine Lines,
Mumbai, Owned by Outdoor Plus ( 3. Fixed deposit
of Rs.5.000 Millions. |
|
Particulars of
the present modification |
By this present
modification the cash limit enhance by Rs.17.500 Millions and the total limit
is increased from Rs.25.000 Millions to Rs.42.500 Millions. |
FIXED ASSETS:
· Computers and Printers
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Motor Vehicles
· Motor Cycle
· Air Conditioner
· Fax Machine
· Xerox Machine
· Invertors
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.48.68 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.