MIRA
INFORM REPORT
|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAATCHI AND SAATCHI PRIVATE LIMITED |
|
|
|
|
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, Maharashtra |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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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 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U84200MH1994PTC078410 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42793C |
|
|
|
|
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. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 576000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. The
company has incurred a loss in the current year. However, networth of the
company is satisfactory. 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.
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 DECLINED
Management non co-operative [91-22-23002132]
LOCATIONS
|
Registered Office : |
Sitaram Mill Compound, 1st Floor, N. M. Joshi Marg, Delisle
Road, Mumbai-400011, Maharashtra, India
|
|
Tel. No.: |
91-22-66103101 / 23002132 |
|
Fax No.: |
91-22-23000302 / 22872215 |
|
E-Mail : |
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|
Website : |
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|
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|
Worldwide Headquarters Office : |
375, Hudson Street, New York, NY 10014, USA |
|
Tel. No.: |
91-212-4632000 |
|
Fax No.: |
91-212-4639855 |
DIRECTORS
AS ON 27.06.2012
|
Name : |
Mr. Patrick Francis Brett |
|
Designation : |
Director |
|
Address : |
15, Sukhumvitwaite, Soi 34, Sukhumvit Road, Bangkok, Thailand |
|
Date of Birth/Age : |
15.09.1955 |
|
Date of Appointment : |
26.03.1997 |
|
Din No.: |
02779557 |
|
|
|
|
Name : |
Mr. Mathew Seddon |
|
Designation : |
Director |
|
Address : |
107, Narra St, Ayala Alabang Village, Muntinlupa City, Philippines |
|
Date of Birth/Age : |
12.06.1967 |
|
Date of Appointment : |
10.01.2012 |
|
Din No.: |
05174474 |
|
|
|
|
Name : |
Mr. Chiristopher Foster |
|
Designation : |
Director |
|
Address : |
9, Holland Green, Singapore-276132 |
|
Date of Birth/Age : |
09.01.1965 |
|
Date of Appointment : |
10.01.2012 |
|
Din No.: |
05190785 |
|
|
|
|
Name : |
Mr. Alan Harker |
|
Designation : |
Director |
|
Address : |
Mount Unique, Mount Mary Hill, Bandra, Mumbai-400050, Maharashtra,
India |
|
Date of Birth/Age : |
29.06.1965 |
|
Date of Appointment : |
10.01.2012 |
|
Din No.: |
05190790 |
|
|
|
|
Name : |
Nisha Singhania |
|
Designation : |
Director |
|
Address : |
301, Marina Near Palm Grove Hotel, Juhu Tara Road, Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
13.01.1971 |
|
Date of Appointment : |
10.01.2012 |
|
Din No.: |
05206286 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Publicis Groupe Holdings B V, The Netherland |
|
149999 |
|
Arebu Holdings B V, The Netherland |
|
1 |
|
|
|
|
|
TOTAL
|
|
150000 |
AS ON 27.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
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
|
No. of Employees : |
Information denied 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 : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountant |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No: |
AABFS3421N |
|
|
|
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Holding Company : |
Publicis Groupe Holdings B V, The Netherland |
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|
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Fellow Subsidiaries : |
·
ACE Saatchi and Saatchi Advertising ·
Hanmer MSL Communication Private Limited, India ·
MMS Communication Singapore Pte. Limited ·
Orchard Advertising Private Limited, India ·
Publicis Communication Private Limited, India ·
Publicis Healthcare Pty Limited, Australia ·
Saatchi and Saatchi London ·
Saatchi and Saatchi X, China ·
Saatchi and Saatchi X Inc., Springdale ·
Saatchi and Saatchi X, Moscow ·
Saatchi and Saatchi Dubai ·
Saatchi and Saatchi GmbH, Frankfurt ·
Saatchi and Saatchi Greal Wall Advertising
Company Limited, China ·
Saatchi and Saatchi Guangzhou ·
Saatchi and Saatchi Limited EMEA ·
Saatchi and Saatchi Limited, New Work ·
Saatchi and Saatchi Limited, North America ·
Saatchi and Saatchi Limited, Singapore ·
Saatchi and Saatchi Limited Sri Lanka ·
Saatchi and Saatchi Limited Thailand, Bangkok ·
Saatchi and Saatchi Limited Hong Kong ·
Saatchi and Saatchi Switzerland ·
TLG India Private Limited, India |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
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 |
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 |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
142.581 |
181.003 |
171.456 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
144.081 |
182.503 |
172.956 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
24.951 |
0.000 |
4.704 |
|
|
TOTAL BORROWING |
24.951 |
0.000 |
4.704 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
169.032 |
182.503 |
177.660 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.498 |
14.563 |
27.136 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
3.021 |
0.149 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.126 |
0.379 |
0.200 |
|
|
Sundry Debtors |
150.970
|
71.882 |
161.136 |
|
|
Cash & Bank Balances |
124.500
|
96.205 |
1.810 |
|
|
Other Current Assets |
14.320
|
24.666 |
0.000 |
|
|
Loans & Advances |
69.106
|
58.645 |
81.667 |
|
Total
Current Assets |
367.022
|
251.777 |
244.813 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
165.697
|
58.161 |
78.708 |
|
|
Other Current Liabilities |
43.791
|
28.697 |
15.730 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
209.488
|
86.858 |
94.438 |
|
|
Net Current Assets |
157.534
|
164.919 |
150.375 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
169.032 |
182.503 |
177.660 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
259.881 |
273.723 |
|
|
|
|
Other Income |
7.314 |
11.955 |
|
|
|
|
TOTAL (A) |
267.195 |
285.678 |
319.014 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
265.260 |
286.087 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
302.596 [Including
Financial Expenses and Depreciation] |
265.260 |
286.087 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
20.418 |
32.927 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.211 |
0.799 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
20.207 |
32.128 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
7.138 |
5.865 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(35.401) |
13.069 |
26.263 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
3.521 |
8.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
NA |
9.548 |
18.188 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
147.550 |
129.362 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
157.098 |
147.550 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
40.557 |
36.602 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
NA |
63.65 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.34
|
5.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(13.62)
|
4.77
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.35)
|
4.79
|
9.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
0.07
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.63
|
0.48
|
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
2.90
|
2.59 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
165.697
|
58.161 |
78.708 |
|
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 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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
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] |
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 |
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.
BUSINESS OVERVIEW:
The company is principally engaged in
providing Creative Advertising Services under the brands Saatchi and Saatchi,
Saatchi X, Saatchi Focus.
During the year the company has lost client
MTS and have suffered a loss which is mainly driven by decline in revenue and
inflationary pressure on cost.
The company continues to remain focused in
targeting growth industries and focusing on winning new clients and thus reap
the benefits in the coming years, while remained focused in developing and
retaining quality talent.
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 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.56.50 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.