MIRA
INFORM REPORT
|
Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PARADISE HOLIDAYS INDIA PRIVATE LIMITED |
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Registered
Office : |
312, Ansal Classique Tower, Rajouri Garden, New Delhi – 1100027, India |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
25.08.2005 |
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Com. Reg. No.: |
55-140014 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U63040DL2005PTC140014 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELP11718A |
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PAN No.: [Permanent Account No.] |
AADCP6848H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Air Tickets Booking, Tour Packages, Hotel Booking,
Tour Operators, Travel Agents, Tours and Travels. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 110000 |
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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 a continuous dip in the profitability of the company from last two years
of operation. However, networth appears to be satisfactory. 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
|
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 |
LOCATIONS
|
Registered Office : |
312, Ansal Classique Tower, Rajouri Garden, New Delhi – 1100027, India |
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Tel. No.: |
91-11-45520735/ 45520736/ 45520737/ 45520738/ 45520739/ 25108463/
41644536 |
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Mobile No.: |
91-9811052376 (Mr. Rajnish Kaistha) 91-11-9810054543 (Hemant Gupta) |
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Fax No.: |
91-11-25109463 |
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E-Mail : |
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Website : |
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Nepal Office : |
GA/2 – 177, Dhobidhara, Dillibazar, P. O. 9640 Kathmandu, Nepal |
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Tel No.: |
004977-1-420985/ 417710/ 414779 |
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Fax No.: |
004977-1-414779 |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Krishan Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
C-15, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
05.03.1941 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00365614 |
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Name : |
Mr. Rajnish Kaistha |
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Designation : |
Director |
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Address : |
C-2/4, 326, Vasant Kunj, New Delhi – 110070, India |
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Date of Birth/Age : |
01.04.1961 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00365971 |
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Name : |
Mr. Hemant Gupta |
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Designation : |
Director |
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Address : |
C-15, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
03.12.1975 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00365680 |
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Name : |
Mrs. Sumedha Gupta |
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Designation : |
Director |
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Address : |
C-15, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
14.02.1949 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00365854 |
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Name : |
Mr. Surinder Kumar Gupta |
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Designation : |
Director |
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Address : |
C-17, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
01.04.1936 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
00365900 |
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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Krishan Kumar Gupta |
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24000 |
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Sumedha Gupta |
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25000 |
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Hemant Gupta |
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25000 |
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Surinder Kumar Gupta |
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1000 |
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Rajnish Kaistha |
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25000 |
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Total |
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100000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
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Percentage |
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Directors or relatives of directors |
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75.00 |
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Other top fifty shareholders |
|
25.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Air Tickets Booking, Tour Packages, Hotel Booking,
Tour Operators, Travel Agents, Tours and Travels. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gupta Thapar and Company Chartered Accountant |
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Address : |
D-53, Anand Biketan, New Delhi – 110021, India |
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Tele-Fax No.: |
91-11-24118176/ 41661979 |
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PAN No.: |
AAKPG8803F |
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Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
26.805 |
25.829 |
21.166 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
27.805 |
26.829 |
22.166 |
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LOAN FUNDS |
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1] Secured Loans |
1.809 |
2.473 |
2.128 |
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2] Unsecured Loans |
2.122 |
3.127 |
0.619 |
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TOTAL BORROWING |
3.931 |
5.600 |
2.747 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
31.736 |
32.429 |
24.913 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.504 |
10.114 |
10.288 |
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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 |
0.463 |
0.299 |
0.159 |
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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 |
4.195
|
6.449 |
10.881 |
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Cash & Bank Balances |
12.045
|
13.743 |
8.816 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
13.924
|
10.200 |
8.331 |
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Total
Current Assets |
30.164
|
30.392 |
28.028 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
4.045
|
3.555 |
4.718 |
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Other Current Liabilities |
2.730
|
2.514 |
5.531 |
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Provisions |
0.620
|
2.307 |
3.313 |
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Total
Current Liabilities |
7.395
|
8.376 |
13.562 |
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Net Current Assets |
22.769
|
22.016 |
14.466 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
31.736 |
32.429 |
24.913 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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TOTAL |
19.132 |
22.382 |
25.332 |
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Less |
EXPENSES |
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TOTAL |
14.951 |
12.641 |
13.854 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.181 |
9.741 |
11.478 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.740 |
2.912 |
1.361 |
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PROFIT BEFORE
TAX |
1.441 |
6.829 |
10.117 |
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Less |
TAX |
0.465 |
2.167 |
3.588 |
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PROFIT AFTER TAX
|
0.976 |
4.662 |
6.444 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
25.004 |
20.342 |
16.127 |
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Less |
APPROPRIATIONS |
|
|
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|
|
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|
Transfer to General Reserve |
-- |
-- |
0.825 |
|
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Dividend |
-- |
-- |
1.200 |
|
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|
Tax on Dividend |
-- |
-- |
0.204 |
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BALANCE CARRIED
TO THE B/S |
25.980 |
25.004 |
20.342 |
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Earnings Per
Share (Rs.) |
9.76 |
46.63 |
64.44 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.10
|
20.83 |
25.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.73
|
16.86 |
26.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.25 |
0.46 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.52 |
0.74 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
4.08
|
3.63 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from T-95, CL
House, Gautam Nagar, New Delhi - 110049,
India, to the present address w.e.f. 01.02.2008.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
Millions) |
|
|
|
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|
Guarantees gives by bank on behalf of
company |
1.500 |
1.500 |
|
Corporate guarantees given by the company |
Nil |
Nil |
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FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Air Conditioner
· Printer
· Fax Machine
· Invertors
· TV and VCD Player
· Furniture and Fixture
· Vehicles
· Motor Car
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 |
5 |
|
--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 |
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 |
|
45 |
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.