%20PRIVATE%20LIMITED%20-%20167417%2027-Jan-2012_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
MERCER CONSULTING (INDIA) PRIVATE LIMITED (w.e.f.03.09.2007) |
|
|
|
|
Formerly Known
As : |
MERCER HUMAN RESOURCESONSULTING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
70/39 B, 2nd Floor, KLJ Complex, Opposite Moti Nagar Police
Station, Najafgarh Road, New Delhi-110015 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
06.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-084253 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.838 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51102DL1997PTC084253 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM11776C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8145M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is
mainly engaged in providing human resource consulting services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 920000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
70/39 B, 2nd Floor, KLJ Complex, Opposite Moti Nagar Police
Station, Najafgarh Road, New Delhi-110015, India |
|
Tel. No.: |
91-11-41446580 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At ·
Bangalore ·
Kolkata ·
Mumbai ·
Delhi ·
Haryana ·
Chennai |
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Anupam Prakash |
|
Designation : |
Director |
|
Address : |
A-15/10, DLF Phase-I, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
21.05.1960 |
|
Date of Appointment : |
04.04.2011 |
|
DIN No.: |
00058032 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1995PTC067542 |
HEWITT
ASSOCIATES (INDIA) PRIVATE LIMITED |
Alternate
director |
02-12-05 |
02-12-05 |
08-06-07 |
Active |
NO |
|
2 |
U51102DL1997PTC084253 |
MERCER
CONSULTING (INDIA) PRIVATE LIMITED |
Director |
30-06-11 |
04-04-11 |
- |
Active |
NO |
|
Name : |
Mr. Nishahae Suri |
|
Designation : |
Director |
|
Address : |
Y-003, Regency Park-II, DLF Phase-I, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
14.11.1973 |
|
Date of Appointment : |
17.12.2010 |
|
DIN No.: |
03387308 |
|
|
|
|
Name : |
Mr. Peter John Promnitz |
|
Designation : |
Director |
|
Address : |
136 Apartment, 1 Queensberry Street, Carlton VIC-3053, Australia |
|
Date of Birth/Age : |
04.12.1952 |
|
Date of Appointment : |
05.11.2009 |
|
DIN No.: |
02864324 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72400HR2008PTC037539 |
MERCER
INDIA PRIVATE LIMITED |
Director |
28-06-10 |
05-11-09 |
Active |
NO |
|
2 |
U51102DL1997PTC084253 |
MERCER
CONSULTING (INDIA) PRIVATE LIMITED |
Director |
28-06-10 |
05-11-09 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2011
|
Names of Shareholders |
No. of Shares |
|
Corporate Resources Group Holdings Limited, Island |
4127901 |
|
Mercer India Private Limited, India |
100 |
|
Total |
4128001 |
AS ON 19.10.2011
|
Names of Allottees |
No. of Shares |
|
Mercer Mauritius Limited, Mauritius |
477046 |
AS ON 30.06.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is mainly
engaged in providing human resource consulting services. |
|
|
|
|
Services : |
Information
product solutions H R consulting Retirement, Risk and Finance Consulting. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Alka Chadha Chartered Accountant |
|
Address : |
7th Floor, Building No.10, Tower B, DLF Cyber City Complex,
DLF City Phase-II, Gurgaon-122002, Haryana, India |
|
Pan No.: |
AABFD2095B |
|
|
|
|
Holding Company : |
·
Corporate Resources Group (Holdings) Limited,
British Virgin Island, UK (up to 7 November, 2010) ·
Mercer Mauritius Limited, Mauritius with effect from
8 November, 2010 |
|
|
|
|
Ultimate Holding Company : |
·
Marsh and McLennan Companies, Inc., USA |
|
|
|
|
Fellow Subsidiaries : |
·
Mercer (Singapore) Pte Limited ·
Mercer (US) Inc. ·
Mercer (Australia) Pty Limited ·
Mercer (Hong Kong) Limited ·
Mercer (Switzerland) SA ·
Mercer Limited, UK ·
Mercer (Canada) Limited ·
Mercer Consulting (Shanghai) Limited ·
Marsh India Insurance Brokers Private Limited ·
Oliver Wyman Limited ·
Mercer Korea Company Limited ·
Mercer (Malaysia) Sdn Bhd ·
Mercer Philippines, Inc ·
Mercer (Taiwan) Limited ·
Mercer (Thailand) Limited ·
Mercer Japan Limited ·
Mercer N.Z. Limited ·
Mercer (Sweden) AB ·
Mercer India Private Limited ·
Mercer (France) SAS ·
Mercer Italia S.r.l. Socio Unico ·
Mercer Deutschland GmbH ·
PT. Mercer Human Resource Consulting |
CAPITAL STRUCTURE
AFTER 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4605047 |
Equity Shares |
Rs.10/- each |
Rs. 46.050
Millions |
|
|
|
|
|
AS 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4128001 |
Equity Shares |
Rs.10/- each |
Rs. 41.280
Millions |
|
|
|
|
|
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
670000 |
Equity Shares |
Rs.10/- each |
Rs. 6.700 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
483820 |
Equity Shares |
Rs.10/- each |
Rs. 4.838
Millions |
|
|
|
|
|
Note:
483820 equity shares are held by Mercer
Mauritius Limited, Mauritius and it’s nominees. During the previous year 416247
equity shares were held by corporate Resources Group (Holding) Limited, British
Virgin Island and its nominees. Corporate Resources Group (Holding) Limited
amalgamated with Mercer Mauritius Limited with effect from 8th November
2010. The ultimate holding company is Marsh and McLennan Companies Inc.,
USA.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.838 |
4.162 |
1.856 |
|
|
2] Share Application Money |
207.720 |
13.785 |
0.000 |
|
|
3] Reserves & Surplus |
235.455 |
178.964 |
117.960 |
|
|
4] (Accumulated Losses) |
(216.327) |
(122.245) |
0.000 |
|
|
NETWORTH |
231.686 |
74.666 |
119.816 |
|
|
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 |
|
|
|
|
|
|
|
|
TOTAL |
231.686 |
74.666 |
119.816 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.141 |
47.788 |
44.246 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
6.021 |
3.743 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
237.860
|
175.307 |
189.795 |
|
|
Cash & Bank Balances |
30.328
|
22.381 |
15.505 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
156.957
|
131.021 |
97.472 |
|
Total
Current Assets |
425.145
|
328.709 |
302.772 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
155.799
|
270.723 |
171.603 |
|
|
Other Current Liabilities |
66.223
|
33.439 |
57.562 |
|
|
Provisions |
0.578
|
3.690 |
1.780 |
|
Total
Current Liabilities |
222.600
|
307.852 |
230.945 |
|
|
Net Current Assets |
202.545
|
20.857 |
71.827 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
231.686 |
74.666 |
119.816 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
409.557 |
335.880 |
411.665 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
475.265 |
473.843 |
453.238 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(65.708) |
(137.963) |
(41.573) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.352 |
20.281 |
5.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(88.060) |
(158.244) |
(46.585) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.021 |
(1.978) |
4.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(94.081) |
(156.266) |
(50.723) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
121.102 |
149.469 |
145.704 |
|
|
TOTAL EARNINGS |
121.102 |
149.469 |
145.704 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(204.65) |
(375.42) |
(273.28) |
|
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%20PRIVATE%20LIMITED%20-%20167417%2027-Jan-2012_files/image010.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(22.97)
|
(46.52) |
(12.32) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.38)
|
(41.37) |
(13.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38)
|
(2.12) |
(0.39) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.96
|
4.12 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.07 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from J-13/44A, 2nd
Floor, Rajouri Garden, New Delhi-110027 India, to the present address w.e.f.
01.04.2011.
BACKGROUND
Subject was
incorporated on 6 January, 1997, and is a subsidiary of Mercer Mauritius
Limited, Mauritius ('the parent company'). Up to 7 November, 2010, the Company
was a subsidiary of Corporate Resources Group (Holdings) Limited, British
Virgin Islands. Corporate Resources Group (Holdings) Limited amalgamated with
Mercer Mauritius Limited with effect from 8 November, 2010.
The Company is
mainly engaged in providing human resource consulting services.
PROSPECTS
In the coming year, the company targets to achieve a higher turnover
coupled with a focused view on controlling costs by which it expects to achieve
better results.
FIXED ASSETS
·
Leasehold Land
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Software
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. 49.96 |
|
|
1 |
Rs. 77.74 |
|
Euro |
1 |
Rs. 65.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.