MIRA
INFORM REPORT
|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RADEUS ADVERTISING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
G-1, Paragon Condominium, Pandurang Budhkar Marg, Mumbai-400013,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
08.06.1973 |
|
|
|
|
Com. Reg. No.: |
11-16583 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.10.100
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74300MH1973PTC016583 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR14916G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACR5190H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Advertising for Media. |
|
|
|
|
No. of Employees : |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old company having a moderate track record. The
management has failed to file its financials with the government department
for the year 2012. Ms. Anju, from HR Department has provided general information but
denied to disclose any financial details to us. As per old record 2010, there appeared huge accumulated losses. Which
exceeds the networth. However, business is active. Payment terms are slow but
delayed. The company can be considered for business dealings on a safe and
secured 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Anju |
|
Designation : |
HR Department |
|
Contact No.: |
91-22-61430923 |
|
Date : |
05.04.2013 |
LOCATIONS
|
Registered Office : |
G-1, Paragon Condominium, Pandurang Budhkar Marg, Mumbai-400013,
Maharashtra, India |
|
Tel. No.: |
91-22-61437000/61430923 |
|
Fax No.: |
91-22-61437098 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Ms. Nalini Ajay Lalvani |
|
Designation : |
Whole Time Director |
|
Address : |
1601, Strata Tower 4, Planet Godrej, Keshavrao Khade Marg,
Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1964 |
|
Date of Appointment : |
13.04.2011 |
|
Din No.: |
00586061 |
|
|
|
|
Name : |
Sohrabji Jehangir Jasmin |
|
Designation : |
Whole Time directors |
|
Address : |
12, Nirmal Mahal, Bomanji Petit Road, Kemps Corner Gamdevi, Mumbai-
400 092, |
|
Date of Birth/Age : |
08.07.1963 |
|
Date of Appointment : |
25.03.2009 |
|
Din No.: |
02402195 |
|
|
|
|
Name : |
Barry Howard Cupples |
|
Designation : |
Director |
|
Address : |
2, Holland Green, Pin Code 276125, Singapore |
|
Date of Birth/Age : |
04.08.1965 |
|
Date of Appointment : |
13.04.2011 |
|
Din No.: |
03473197 |
|
|
|
|
Name : |
Mr. Davind George Devonshire |
|
Designation : |
Director |
|
Address : |
349A, Pasir Panjang Road, # 05-05, Murano-117484, Singapore |
|
Date of Birth/Age : |
01.12.1969 |
|
Date of Appointment : |
13.04.2011 |
|
Din No.: |
03388282 |
|
|
|
|
Name : |
Mr. Harish Rama Shriyan |
|
Designation : |
Whole Time Directors |
|
Address : |
303, |
|
Date of Birth/Age : |
16.05.1961 |
|
Date of Appointment : |
25.03.2009 |
|
DIN No. : |
02402221 |
KEY EXECUTIVES
|
Name : |
Ms. Anju |
|
Designation : |
HR Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
TBWA Anthem Private Limited, India |
|
100990 |
|
Manosh Mukherjee |
|
10 |
|
|
|
|
|
TOTAL
|
|
101000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Advertising for Media. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others [Corporate] |
|
|
|
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
The Saraswat Co-Operative Bank Limited, Central Administrative Office,
Apsara Cinema Building, Dr. D. B. Marg, Grant Road, Mumbai- 400 007,
Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower – B, |
|
Tel. No.: |
91-124-2579191 |
|
Fax No.: |
91-124-2549101 |
|
PAN No: |
AAAFB9852F |
|
|
|
|
Holding Company : |
TBWA Anthem Private Limited |
|
|
|
|
Ultimate Holding Company: |
Omnicom Group Inc., USA |
|
|
|
|
Other Related Parties : |
·
OMD Singapore Pte Limited ·
Omnicom Media Group Asiapacific Pte Limited ·
Omnicom Media Group Ince., USA ·
OMD International ·
OMD USA Inc ·
OMD Nederland ·
PHD Frankfurt GmbH ·
DDB Chicago ·
Prometheus ·
PHD Singapore Pte Limited ·
OMD New York ·
OMD Dubai ·
OMD Dusseldorf GmbH ·
Omnicom Capital Inc ·
PHD Network ·
PHD Australia Pty Limited ·
Flow Digital Pte Limited ·
Optimum Media Direction FZ LLC ·
Omnicom Group – Strategic Alliance Services |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105000 |
Equity Shares |
Rs.100/- each |
Rs.10.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
101000 |
Equity Shares |
Rs.100/-
each |
Rs.10.100
Millions |
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 |
10.100 |
10.100 |
10.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(13.165) |
(29.822) |
(50.220) |
|
|
NETWORTH |
(3.065) |
(19.722) |
(40.120) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
41.384 |
30.272 |
|
|
TOTAL BORROWING |
0.000 |
41.384 |
30.272 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(3.065) |
21.662 |
9.848 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.772 |
11.931 |
11.344 |
|
|
Capital work-in-progress |
0.00 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.00 |
0.000 |
0.010 |
|
|
DEFERREX TAX ASSETS |
15.320 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1231.608
|
765.500
|
186.403
|
|
|
Cash & Bank Balances |
0.027
|
0.071
|
0.421
|
|
|
Other Current Assets |
709.119
|
568.300
|
173.595
|
|
|
Loans & Advances |
174.783
|
50.642
|
23.581
|
|
Total
Current Assets |
2115.537
|
1384.513
|
384.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1966.928
|
1351.983
|
397.859 |
|
|
Other Current Liabilities |
180.814
|
20.139
|
5.721
|
|
|
Provisions |
9.952
|
2.660
|
1.624
|
|
Total
Current Liabilities |
2157.694
|
1374.782
|
405.204
|
|
|
Net Current Assets |
(42.157)
|
9.731
|
(21.202)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(3.065) |
21.662 |
(9.848) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
279.431 |
180.928 |
82.954 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
270.852 |
156.833 |
124.526 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
8.579 |
24.095 |
(41.572) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(8.078) |
3.697 |
1.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
16.657 |
20.398 |
(42.597) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Gross Billing (Including Commission Income) |
211.377 |
43.875 |
0.000 |
|
|
|
Service Income |
6.598 |
3.057 |
0.000 |
|
|
|
Expenses Reimbursements |
2.021 |
0.000 |
0.000 |
|
|
TOTAL |
219.996 |
46.932 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
164.92 |
201.96 |
(426.01) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.96
|
11.27
|
(51.35)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.40
|
1.72
|
(10.52)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.80)
|
(1.22)
|
1.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
(2.10)
|
(0.75)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98
|
1.01
|
0.95
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors
Due to Others |
1966.928
|
1351.983
|
397.859 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
Registered office of the company has been shifted from 629,
Madhusudan Kalekar Marg, Bandra (East), Mumbai- 400 051,
BACKGROUND:
Subject was
incorporated in India on 8 June 1973. The Company is a wholly owned subsidiary
of TBWA Anthem Private Limited and is in the business of providing media
planning, buying and implementation services and other related
advertising/media services to its clients. The ultimate holding company is
Omnicom Group Inc, USA.
|
Unsecured Loan |
As
on 31.03.2011 [Rs.
in Millions] |
As
on 31.03.2010 [Rs.
in Millions] |
|
Bank Overdraft with scheduled bank* [* against corporate guarantee in favour of the bank by Omnicom Group
Inc., USA the ultimate holding company] |
0.000 |
41.384 |
|
TOTAL
|
0.000 |
41.384 |
FIXED ASSETS:
- Computers
- Office Equipment
- Furniture and Fixtures
- Leasehold Improvements
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 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.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
19 |
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.