MIRA
INFORM REPORT
|
Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAATCHI AND SAATCHI PRIVATE LIMITED |
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Formerly Known
As : |
SISTA’S COMMUNICATIONS PRIVATE LIMITED |
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Registered
Office : |
Sitaram Mill Compound, 1st Floor, N. M. Joshi Marg, Delisle
Road, Mumbai-400011, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.05.1994 |
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Com. Reg. No.: |
11-078410 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.500 Millions |
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CIN No.: [Company Identification
No.] |
U84200MH1994PTC078410 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42793C |
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PAN No.: [Permanent Account No.] |
AAACS5255Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is
principally engaged in providing a range of advertising services, which includes
media planning and buying, creative, print production, artwork etc. |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 730000 |
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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 sales turnover and the profitability of the company
during the year 2011. 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 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.
INFORMATION DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office : |
Sitaram Mill Compound, 1st Floor, N. M. Joshi Marg, Delisle
Road, Mumbai-400011, Maharashtra, India
|
|
Tel. No.: |
91-22-66103101 / 23002132 |
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Fax No.: |
91-22-23000302 / 22872215 |
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E-Mail : |
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Website : |
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Worldwide Headquarters Office : |
375, Hudson Street, New York, NY 10014, USA |
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Tel. No.: |
91-212-4632000 |
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Fax No.: |
91-212-4639855 |
DIRECTORS
AS ON 26.06.2011
|
Name : |
Mr. Kamal Kumar Anil Kumar Basu |
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Designation : |
Director |
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Address : |
Flat No.001, Mount Unique, Mount Mary Hill, Bandra, Mumbai-400050,
Maharashtra, India |
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Date of Birth/Age : |
08.11.1962 |
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Date of Appointment : |
28.10.2008 |
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DIN No.: |
02100863 |
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|
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Name : |
Mr. Patrick Francis Brett |
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Designation : |
Director |
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Address : |
15, Sukhumvitwaite, Soi 34, Sukhumvit Road, Bangkok, Thailand |
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Date of Birth/Age : |
15.09.1955 |
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Date of Appointment : |
26.03.1997 |
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DIN No.: |
02779557 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.06.2011
|
Names of Shareholders |
No. of Shares |
|
Publicis Groupe Holdings B V, Netherland |
149999 |
|
Arebu Holdings B V, Netherland |
1 |
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TOTAL |
150000 |
AS ON 26.06.2011
|
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 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
principally engaged in providing a range of advertising services, which
includes media planning and buying, creative, print production, artwork etc. |
GENERAL INFORMATION
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No. of Employees : |
Information not given by the management |
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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 : |
S. R. Batliboi and Associates Chartered Accountant |
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Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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Pan No.: |
AABFS3421N |
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Holding Company : |
Publicis Groupe Holdings BV, Netherlands |
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Fellow Subsidiaries : |
·
Saatchi and Saatchi Limited, Hong Kong ·
Saatchi and Saatchi Limited – Thailand – Bangkok ·
Saatchi and Saatchi Limited – North America ·
Saatchi and Saatchi Limited – Singapore ·
Saatchi and Saatchi Limited – New York ·
Saatchi and Saatchi GmbH – Frankfurt ·
Saatchi and Saatchi Limited – Simko ·
Saatchi and Saatchi Limited – Emes ·
TLG India Private Limited ·
Saatchi and Saatchi Guangzhou ·
Saatchi and Saatchi Philippines ·
Saatchi and Saatchi – London ·
Saatchi and Saatchi – X, Inc Springdale ·
Solutions Integrated Marketing Services Private
Limited ·
Saatchi and Saatchi <idle East Holdings FZLLC ·
Saatchi and Saatchi Taiwan ·
Saatchi and Saatchi Dubai ·
Saatchi and Saatchi – X, China ·
Lion Resources, Singapore ·
Saatchi and Saatchi Great Wail Advertising
Company Limited ·
Hanmer MS and L Communications Private Limited ·
Publicis Healthcare Private Limited, Australia |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
1500000 |
Unclassified Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
TOTAL |
|
Rs. 20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500
Millions |
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|
|
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|
NOTE
Of the above, 150000 equity shares are held by
Publicis Groupe Holdings BV, the holding Company.
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 |
1.500 |
1.500 |
1.500 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
181.003 |
171.456 |
153.268 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
182.503 |
172.956 |
154.768 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
0.000 |
4.704 |
1.613 |
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TOTAL BORROWING |
0.000 |
4.704 |
1.613 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
182.503 |
177.660 |
156.381 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.538 |
27.136 |
20.654 |
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Capital work-in-progress |
0.000 |
0.000 |
2.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
3.021 |
0.149 |
1.594 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
0.379
|
0.200 |
0.306 |
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Sundry Debtors |
86.258
|
161.136 |
144.352 |
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Cash & Bank Balances |
100.670
|
1.810 |
2.006 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
58.961
|
81.667 |
69.083 |
|
Total
Current Assets |
246.268
|
244.813 |
215.747 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
64.601 |
78.708 |
57.510 |
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Other Current Liabilities |
25.723
|
15.730 |
26.104 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
90.324
|
94.438 |
83.614 |
|
|
Net Current Assets |
155.944
|
150.375 |
132.133 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
182.503 |
177.660 |
156.381 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
284.213 |
319.014 |
460.593 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
263.795 |
286.087 |
361.506 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.418 |
32.927 |
99.087 |
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Less |
FINANCIAL
EXPENSES (D) |
0.211 |
0.799 |
2.215 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.207 |
32.128 |
96.872 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.138 |
5.865 |
4.993 |
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PROFIT BEFORE
TAX (E-F) (G) |
13.069 |
26.263 |
91.879 |
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Less |
TAX (H) |
3.521 |
8.075 |
38.645 |
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PROFIT AFTER TAX
(G-H) (I) |
9.548 |
18.188 |
53.234 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
147.550 |
129.362 |
76.128 |
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BALANCE CARRIED
TO THE B/S |
157.098 |
147.550 |
129.362 |
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EARNINGS IN
FOREIGN CURRENCY |
40.557 |
36.602 |
15.801 |
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|
Earnings Per
Share (Rs.) |
63.65 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.36
|
5.70 |
11.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.79
|
9.65 |
38.61 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.15 |
0.59 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.49
|
0.57 |
0.55 |
|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
2.59 |
2.58 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
No |
|
5. Type of Business |
Yes |
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6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
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8. No. of Employees |
No |
|
9. Name of person contacted |
No |
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10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
Yes |
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13. Reasons for variation <> 20% |
------- |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
Yes |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
No |
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20. Export / Import details |
Yes |
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21. Market information |
------ |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
No |
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24. Banking facility details |
Yes |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
64.601 |
78.708 |
57.510 |
|
|
|
|
|
|
TOTAL |
64.601 |
78.708 |
57.510 |
BACKGROUND
Subject was incorporated
in India on May 17, 1994 as Sista subject and is the subsidiary of Publicis
Groupe Holdings BV. The Company is principally engaged in providing a range of
advertising services, which includes media planning and buying, creative, print
production, artwork etc.
FINANCIAL RESULTS
The year saw negative growth due to the full effect of continuance of
global slowdown having adversely affected some of the European Union Countries.
During the year, the Company has earned revenue of Rs. 284.200 Millions
(Previous Year: 319.000 Millions), which is equivalent to a Capitalized Billing
of approx Rs. 2840.000 Millions (Previous Year: 3190.000 Millions), reflecting
a negative growth of 116% over last year. On the other hand, the expenses have
reduced by 38%. After providing for taxation as per the Indian Income Tax Act,
the resultant profit is Rs. 9.500 Millions (Previous year Rs. 18.200 Millions).
FIXED ASSETS
·
Freehold Land
·
Computers
·
Office Equipment
·
Furniture and Fixtures
·
Motor Vehicles
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. 57.07 |
|
|
1 |
Rs. 88.95 |
|
Euro |
1 |
Rs. 71.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.