MIRA INFORM REPORT
|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
INFINITY ADVERTISING SERVICES PRIVATE LIMITED |
|
|
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Registered
Office : |
D-4, Okhla Industrial Area, Phase -1, New Delhi – 110020 |
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Country : |
India |
|
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|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.12.1999 |
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Com. Reg. No.: |
55-102963 |
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Capital
Investment / Paid-up Capital : |
Rs.4.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32101DL1999PTC102963 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI02816C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI5951M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject engaged in Print Media, Electronic Media, Designing, Printing, PR, Event Management, Presentations, Retail Marketing, Rural Marketing. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
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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 record.
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office / Marketing Office : |
D-4, Okhla Industrial Area, Phase -1, New Delhi – 110020, India |
|
Tel. No.: |
91-11-30888700/701 |
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Fax No.: |
91-11-30888750 |
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E-Mail : |
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Website : |
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Production Unit : |
Plot No- 171-172, Sector-58,
Faridabad – 121004, Haryana, India |
|
Tel. No.: |
91-129-3064900 |
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Fax No.: |
91-129-3064900 |
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E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vijay Adlakha |
|
Designation : |
Director |
|
Address : |
199, Sector 14, Faridabad, Haryana, India |
|
Date of Appointment : |
24.12.1999 |
|
DIN No.: |
00286528 |
|
|
|
|
Name : |
Mr. Ajay Adlakha |
|
Designation : |
Director |
|
Address : |
199, Sector 14, Faridabad, Haryana, India |
|
Date of Appointment : |
24.12.1999 |
|
DIN No.: |
00213310 |
|
|
|
|
Name : |
Mr. Tarun Adlakha |
|
Designation : |
Director |
|
Address : |
199, Sector 14, Faridabad, Haryana, India |
|
Date of Appointment : |
24.12.1999 |
|
DIN No.: |
00101676 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ajay Adlakha |
|
160000 |
|
Vijay Adlakha |
|
160000 |
|
Tarun Adlakha |
|
160000 |
|
Total |
|
480000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in Print Media, Electronic Media,
Designing, Printing, PR, Event Management, Presentations, Retail Marketing,
Rural Marketing. |
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GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking Relations
: |
-- |
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Financial Institution : |
TATA Capital Limited, One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
|
|
Name : |
MLG Associates Chartered Accountants |
|
Address : |
House No. 63, Sector-15, Faridabad – 121007, Haryana, India |
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PAN No.: |
AAGFM1817M |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
480000 |
Equity Shares |
Rs.10/- each |
Rs.4.800
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.800 |
4.800 |
1.650 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
70.319 |
53.453 |
43.654 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.119 |
58.253 |
45.304 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
89.108 |
43.612 |
50.057 |
|
|
2] Unsecured Loans |
3.500 |
1.200 |
1.800 |
|
|
TOTAL BORROWING |
92.608 |
44.812 |
51.857 |
|
|
DEFERRED TAX LIABILITIES |
3.397 |
2.723 |
1.667 |
|
|
|
|
|
|
|
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TOTAL |
171.124 |
105.788 |
98.828 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
80.005 |
74.760 |
51.812 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
25.451 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.535
|
16.014 |
16.423 |
|
|
Sundry Debtors |
85.230
|
99.587 |
82.837 |
|
|
Cash & Bank Balances |
4.159
|
1.508 |
1.912 |
|
|
Other Non-Current Assets |
0.052
|
0.065 |
0.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
1.010 |
|
|
Loans & Advances |
49.677
|
4.442 |
3.579 |
|
Total
Current Assets |
152.653
|
121.616 |
105.761 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
49.358
|
68.912 |
|
|
|
Other Current Liabilities |
9.035
|
14.076 |
81.786 |
|
|
Provisions |
3.141
|
7.600 |
2.410 |
|
Total
Current Liabilities |
61.534
|
90.588 |
84.196 |
|
|
Net Current Assets |
91.119
|
31.028 |
21.565 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
171.124 |
105.788 |
98.828 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
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Turnover |
|
|
|
|
|
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Other Income |
|
|
NA |
|
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TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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Administrative Expenses |
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Advertising Expenses |
|
|
|
|
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
25.000 |
NA |
15.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.75 |
NA |
9.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
NA |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.23 |
0.77 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48 |
1.34 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last one years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
|
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
From Directors |
|
|
|
Ajay Adlakha |
0.500 |
0.700 |
|
Ritika Adlakha |
3.000 |
0.000 |
|
Vijay Adlakha |
0.000 |
0.500 |
|
Total |
3.500 |
1.200 |
THE FINANCIALS:
This financial year 2011-12 was a year of further consolidation. The company, did fairly well, with Net sales rising by another 9.97% (this is on the top of last year increase of 23%). The EBIDTA rose further, and PBT rose beyond the psychological Rs 25.000 Millions mark for the first time ever in the history of the company. The directors congratulate you for the same.
BUSINESS OUTLOOK FOR
THE COMING YEAR:-
The Advertising industry is currently in a state of steady growth. The Indian Economy is fighting with the scare of global ups and downs. The company added some good key accounts this year too. Subject has been established as a Quality Brand in the Advertising arena.
Today, Infinity is robust with diverse interests in Print Media, Electronic Media, Designing, Printing, PR, Event Management, presentations, Retail Marketing, Rural Marketing and a whole gamut of other related activities, besides creating tailor-made advertising strategies for their clients from the point of conceptualisation to completion. On a Solid Ground with an up-to date Designing Softwares, ERP, Computer and other infrastructure, the dedicated personnel of the Company shall taking on the industry majors in the coming year. The Directors foresee a good future for the company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U32101DL1999PTC102963 |
|
Name of the company |
INFINITY ADVERTISING SERVICES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
D-4, Okhla Industrial Area, Phase -1, New Delhi – 110020, India E-mail id : infinity@infinityadvt.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others (Stocks and Plant & Machinery) |
|
Particular of charge holder |
Citibank N.A, Jeevan Bharti Building, 4th Floor, 124, Connaught Circus, Connaught Place, New Delhi - 110001, India E-mail Id : roc@sdpa.in |
|
Nature of instrument creating charge |
Secured Term Loan Agreement where the security is by way of hypothecation of stocks, book debts and plant and machinery |
|
Date of instrument Creating the charge |
29.06.2012 |
|
Amount secured by the charge |
Rs.15.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 12.75% per annum. Terms of Repayment 16 equal quarterly installments Margin 10% for plant and machinery. Extent and Operation of the charge First exclusive charge on stocks, book debts and plant and machinery in favour of Citibank N.A for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, cost, charges and expenses. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The whole of the borrowers present and future stocks of raw materials, goods in process of manufacture, semi finished goods and all finished and manufactured goods and articles. All of the borrowers present and future book debts, outstanding monies, receivables, claims, bills, investments rights to or on movable properties and movable assets forming part of current assets All the borrowers present and future movable plant, machinery, vehicles and equipment belonging to the borrower (excluding those hypothecated to other banks/financial institutions). |
FIXED ASSETS
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Telephone Equipments
- Air Conditioner
- Vehicles
- Land and Buildings
- Goodwill
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 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.53.29 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--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.