MIRA
INFORM REPORT
|
Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARAT MEDIA SERVICES INDIA PRIVATE LIMITED |
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Registered
Office : |
702 - B, Poonam Chambers, B – Wing, Dr. Annie Basant Road, Worli,
Mumbai - 400018, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.12.1996 |
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Com. Reg. No.: |
11-104701 |
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Capital
Investment / Paid-up Capital : |
Rs. 247.479 Millions |
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CIN No.: [Company
Identification No.] |
U74300MH1996PTC104701 |
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|
|
|
TAN No.: [Tax Deduction
& Collection Account No.] |
MUMC06267C / MUMC10091E |
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PAN No.: [Permanent
Account No.] |
AAACC6236F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in Media Buying and Planning. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 600000 |
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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 a well established company having moderate track. 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 but correct. 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.
INFORMATION DENIED BY
|
Name : |
Mr. Joy Mathew |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-30248127 |
|
Date : |
28.06.2012 |
LOCATIONS
|
Registered Office : |
702 - B, Poonam Chambers, B – Wing, Dr. Annie Basant Road, Worli,
Mumbai - 400018, |
|
Tel. No.: |
91-22-30248100 |
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Fax No.: |
91-22-66128122 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Narumon Chakree Arunvaranont |
|
Designation : |
Director |
|
Address : |
59/18, SOI Rongrian, Kwaeng Khet Bangkapi, |
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Date of Birth/Age : |
11.12.1967 |
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Qualification : |
MM-Bus. Admin |
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Date of Appointment : |
14.08.2007 |
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DIN No.: |
02228501 |
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|
|
|
Name : |
Mr. Kartik Venkataraman Iyer |
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Designation : |
Whole time Director |
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Address : |
A1-16, First Floor, South City II, Near |
|
Date of Birth/Age : |
06.08.1966 |
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Qualification : |
MBA |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02297293 |
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|
|
|
Name : |
Mr. Ashish Madan Bhasin |
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Designation : |
Director |
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Address : |
151-I, |
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Date of Birth/Age : |
15.12.1964 |
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Qualification : |
MMS |
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Date of Appointment : |
13.06.2008 |
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DIN No.: |
00005493 |
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|
|
|
Name : |
Mr. Anand Sharad Bhadkamkar |
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Designation : |
Director |
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Address : |
3/10, Om Sainath Soc., Linking Rd, Extantion,
Santacruz (W), Mumbai – 400054, Maharashtra, India |
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Date of Birth/Age : |
02.01.1972 |
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Qualification : |
CA, CMA |
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Date of Appointment : |
17.11.2008 |
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DIN No.: |
02415481 |
KEY EXECUTIVES
|
Name : |
Mr. Joy Mathew |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Group Carat (Nederlands) BV, Nederlands |
|
24747935 |
|
Aegis Media Pacific Limited, |
|
10 |
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|
|
|
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TOTAL |
|
24747945 |
(AS ON 30.09.2011)
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in Media Buying and Planning. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
12, DR, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN NO.: |
AACFD4815A |
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Holding Company: (As on
31.03.2010) |
Group Carat (Nederlands) BV, Nederlands |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24747945 |
Equity Shares |
Rs.10/- each |
Rs. 247.479 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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
247.479 |
247.479 |
247.479 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
42.000 |
42.000 |
42.000 |
|
|
4] (Accumulated Losses) |
(115.860) |
(131.984) |
(107.592) |
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|
NETWORTH |
173.619 |
157.495 |
181.887 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
95.066 |
66.883 |
13.689 |
|
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TOTAL BORROWING |
95.066 |
66.883 |
13.689 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
268.685 |
224.378 |
195.576 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
3.410 |
6.844 |
7.717 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
550.885
|
465.256 |
205.921 |
|
|
Cash & Bank Balances |
148.586
|
61.010 |
90.086 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
127.724
|
122.577 |
91.746 |
|
Total
Current Assets |
827.195
|
648.843 |
387.753 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
542.278
|
415.783 |
189.607 |
|
|
Other Current Liabilities |
9.114
|
6.158 |
1.520 |
|
|
Provisions |
10.528
|
9.368 |
8.767 |
|
Total
Current Liabilities |
561.920
|
431.309 |
199.894 |
|
|
Net Current Assets |
265.275
|
217.534 |
187.859 |
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
268.685 |
224.378 |
195.576 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 (15 Months) |
|
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|
SALES |
|
|
|
|
|
|
|
|
139.833 |
|
|
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Other Income |
|
|
|
|
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TOTAL |
139.833 |
98.818 |
71.208 |
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|
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|
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Less |
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|
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|
Office Expenses |
|
|
|
|
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|
Administrative Expenses |
123.709 |
122.583 |
127.870 |
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Advertising Expenses |
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TOTAL |
123.709 |
122.583 |
127.870 |
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PROFIT / LOSS
BEFORE TAX |
16.124 |
(23.765) |
(56.662) |
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Less |
TAX |
0.000 |
0.627 |
0.988 |
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PROFIT / LOSS
AFTER TAX |
16.124 |
(24.392) |
(57.650) |
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|
Add |
PREVIOUS
YEARS’ BALANCE / LOSS BROUGHT FORWARD |
(131.984) |
(107.592) |
(49.942) |
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|
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|
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BALANCE / LOSS
CARRIED TO THE B/S |
(115.860) |
(131.984) |
(107.592) |
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EARNINGS IN
FOREIGN CURRENCY |
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|
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Export Earnings |
23.135 |
22.273 |
34.199 |
|
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TOTAL EARNINGS |
23.135 |
22.273 |
34.199 |
|
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|
|
|
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|
Earnings / Loss
Per Share (Rs.) |
0.65
|
(0.99) |
(4.41) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.53
|
(24.68) |
(80.96) |
|
|
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
|
(3.62) |
(14.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
(0.15) |
(0.31) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.78
|
3.16 |
1.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.50 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs.
in million 31.03.2011 |
Rs. in million 31.03.2010 |
Rs.
in million 31.03.2009 |
|
Sundry creditors |
|
|
|
|
Creditors due small micro enterprises |
542.278
|
415.783 |
189.607 |
|
Creditors due others |
0.000 |
0.000 |
0.000 |
|
TOTAL |
542.278
|
415.783 |
189.607 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
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 in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
------------ |
|
Litigations that the firm/ Promoters Involved in |
------------ |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
------------- |
|
Buyer visit details |
------------ |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
OPERATIONS :
During the period,
the company has earned an income of Rs. 139.833 Millions as against Rs. 98.818 Millions
in the previous year. The Company has made a profit before tax of Rs. 16.124
Millions as compared to loss of Rs. 23.765 Millions in the previous year. After
making Nil provision for taxation the net profit after tax stood to Rs. 16.124
Millions as compared to loss of Rs. 24.392 Millions in the previous year.
FIXED ASSETS:
- Furniture and Fixtures
- Office Equipment and appliance
- Computer
- Lease Improvements
- 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. 56.92 |
|
|
1 |
Rs. 88.91 |
|
Euro |
1 |
Rs. 71.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.