|
Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPALON INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No.8, Aarti Arcade, Old No.86, New No.114, Dr. Radhakrishnan Salai,
Mylapore, Chennai – 600004, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.12.2008 |
|
|
|
|
Com. Reg. No.: |
18-070329 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93020TN2008PTC070329 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS9474R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Beauty Parlours, Commercial Training and Coaching. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities is
limited. It is having a moderate track record. However, trade relations are reported as fair. Business is active.
Payment terms are 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the outbreak of the global financial crisis, the world
economy continues to remain fragile. The Indian economy demonstrated remarkable
resilience in the initial years of the contagion but finally lost ground last
year. GDP growth slowed down. Currency has been weakening. There is a marked
deceleration in agriculture, industry and services. Dampening sentiment led to
a cut-back in investment as well as private consumption expenditure.
Inflation remained at high levels fuelled by the pressure from the food and
fuel sectors. The large fiscal and current account deficit s continued to cause
grave concern. It is imperative that India regains its growth trajectory of 8-9
% sooner than later. This is crucially important given the need to create
gainful livelihood opportunities for the millions living in poverty as also the
large contingent of young people joining the job market every year.
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
|
Name : |
Ms. Raji |
|
Designation : |
Manager |
|
Contact No.: |
91-44-28111446 |
|
Date : |
08.10.2013 |
LOCATIONS
|
Registered Office : |
Shop No.8, Aarti Arcade, Old No.86, New No.114, Dr. Radhakrishnan
Salai, Mylapore, Chennai – 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-28111446 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Shop No.12, Aarti Arcade, Old No.86, New No.114, Dr. Radhakrishna
Salai, Mylapore, Chennai – 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-28111446/ 28114027 |
|
Fax No.: |
91-44-28115972 |
|
|
|
|
Branch Office : |
Located at: · Mypore · T. Nagar · Anna Nagar · Besant Nagar · Kottivakkam · Bangalore |
DIRECTORS
(AS ON 31.03.2012)
|
Name : |
Mrs. Lata C. Mohan |
|
Designation : |
Director |
|
Address : |
Shop No.4, 140 A, Luz Ginza, Royapettah
High Road, Chennai – 600004, Tamilnadu, India |
|
PAN No.: |
AABPL3991Q |
|
|
|
|
Name : |
Mr. Mohan Nair |
|
Designation : |
Director |
|
PAN No.: |
AAFPC8675E |
|
|
|
|
Name : |
Mr. Vikram Chandra Mohan |
|
Designation : |
Director |
|
PAN No.: |
ADXPV9058P |
KEY EXECUTIVES
|
Name : |
Ms. Raji |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS/ SHAREHOLDING PATTERN
NOTE:
Shareholding details are not available.
BUSINESS DETAILS
|
Line of Business : |
Beauty Parlours, Commercial Training and Coaching. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· ICICI Bank T. Nagar, Chennai, Tamilnadu, India · HDFC Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Venkat and Rangaa Chartered Accountants |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
|
Particulars |
Equity Shares |
|
|
|
Number |
Rs. |
|
Share Outstanding at the beginning of the
year |
10,000 |
0.100 |
|
Shares Issued during the year |
-- |
-- |
|
Shares Bought back during the year |
-- |
-- |
|
|
|
|
|
Shares outstanding at the end of the year |
10,000 |
0.100 |
SHAREHOLDERS HOLDING MORE THAN 5% OF SHARES OUTSTANDING
|
Particulars |
31.03.2012 |
|
|
|
No of Shares
held |
% of Holding |
|
Latha Chandramohan |
5050 |
51% |
|
Chandramohan |
2500 |
25% |
|
Vikram Chandramohan |
2450 |
24% |
|
|
|
|
|
Total |
10000 |
100.00% |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
0.730 |
(0.305) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
0.830 |
(0.205) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
9.109 |
21.360 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
9.109 |
21.360 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
1.272 |
|
(b)
Trade payables |
|
3.469 |
4.606 |
|
(c)
Other current liabilities |
|
0.410 |
1.928 |
|
(d)
Short-term provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
|
3.879 |
7.806 |
|
|
|
|
|
|
TOTAL |
|
13.818 |
28.961 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
7.393 |
4.929 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.000 |
0.000 |
|
(e)
Other Non-current assets |
|
1.100 |
1.100 |
|
Total
Non-Current Assets |
|
8.493 |
6.029 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.655 |
0.000 |
|
(c)
Trade receivables |
|
2.149 |
22.140 |
|
(d)
Cash and cash equivalents |
|
1.196 |
0.279 |
|
(e)
Short-term loans and advances |
|
1.060 |
0.513 |
|
(f)
Other current assets |
|
0.265 |
0.000 |
|
Total
Current Assets |
|
5.325 |
22.932 |
|
|
|
|
|
|
TOTAL |
|
13.818 |
28.961 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.091) |
|
|
NETWORTH |
|
|
0.009 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
7.839 |
|
|
TOTAL BORROWING |
|
|
7.839 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7.848 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
10.354 |
|
|
Cash & Bank Balances |
|
|
0.239 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
10.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
1.463 |
|
|
Other Current Liabilities |
|
|
1.309 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
2.772 |
|
|
Net Current Assets |
|
|
7.821 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.027 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7.848 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
14.918 |
14.788 |
|
|
|
Other Income |
|
2.133 |
0.744 |
|
|
|
TOTAL (A) |
|
17.051 |
15.532 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
2.570 |
5.072 |
|
|
|
Employee Benefit Expenses |
|
2.821 |
1.850 |
|
|
|
Directors Remuneration |
|
0.000 |
0.000 |
|
|
|
Other Expenses |
|
3.537 |
6.529 |
|
|
|
TOTAL (B) |
|
8.928 |
13.451 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
8.123 |
2.081 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
5.241 |
1.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.882 |
0.525 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.854 |
0.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.028 |
(0.194) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1.028 |
(0.194) |
|
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
4.037 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
|
|
4.037 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumable Purchases |
|
|
1.240 |
|
|
|
Salaries and Wages |
|
|
1.400 |
|
|
|
Staff Welfare |
|
|
0.232 |
|
|
|
Rent |
|
|
0.900 |
|
|
|
Electricity Charges |
|
|
0.159 |
|
|
|
Travelling and Conveyance |
|
|
0.014 |
|
|
|
Advertisement Charges |
|
|
0.017 |
|
|
|
Audit Fees |
|
|
0.006 |
|
|
|
Business Promotion Expenses |
|
|
0.020 |
|
|
|
Dhobi Expenses |
|
|
0.053 |
|
|
|
Office Maintenance |
|
|
0.038 |
|
|
|
Pooja Expenses |
|
|
0.009 |
|
|
|
Postage and Telephones |
|
|
0.015 |
|
|
|
Preliminary Expenditure Written off |
|
|
0.007 |
|
|
|
Printing and Stationery |
|
|
0.001 |
|
|
|
Water Charges |
|
|
0.007 |
|
|
|
TOTAL (B) |
|
|
4.118 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(0.081) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(0.091) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(0.091) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
(0.091) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.03
|
(1.25) |
(2.25) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.89
|
(1.31) |
(2.25) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.44
|
(0.67) |
(0.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.24
|
0.95 |
(10.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
10.97
|
(110.40) |
871.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
2.94 |
3.82 |
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 |
No |
|
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 |
No |
|
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 |
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF INCOME
(RS. IN MILLIONS)
|
Particulars |
2012-13 |
|
|
|
|
|
|
Income from
Business |
|
|
|
Net profit as
per profit and loss account |
|
1.028 |
|
|
|
|
|
Add: Items
Considered separately |
|
|
|
Depreciation as
per Bookd |
1.854 |
1.854 |
|
|
|
2.883 |
|
|
|
|
|
Less:
depreciation as per Income Tax |
0.888 |
0.888 |
|
|
|
1.995 |
|
|
|
|
|
Taxable Income
(Rounded Off) |
|
1.995 |
|
|
|
|
|
Tax Payable |
|
0.599 |
|
|
|
|
|
COMPUTATION OF
INCOME UNDER SECTION 115JB |
|
-- |
|
|
|
|
|
Net Profit as
per Profit and Loss Account |
|
1.028 |
|
|
|
|
|
TAXABLE INCOME |
|
1.028 |
|
|
|
|
|
Tax Due |
|
0.185 |
|
|
|
|
|
Tax Due
(Whichever is higher) |
|
0.599 |
|
Add: Education
Cess @ 3% |
|
0.018 |
|
|
|
0.617 |
|
|
|
|
|
Less: Tax
Deducted at Source |
|
0.165 |
|
|
|
0.452 |
|
|
|
|
|
Less: Advance
Tax Paid on 14.03.2012 |
0.100 |
|
|
Less: Self
Assessment Tax Paid |
0.069 |
0.169 |
|
|
|
0.282 |
|
|
|
|
|
Add: Interests
u/s 234B |
0.021 |
|
|
234C |
0.018 |
0.039 |
|
|
|
|
|
Tax Paid u/s 140
A |
|
0.321 |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
Established in 1981, Company is a salon and spa chain.
Spalon operates five brands of spas and salons with a wide spectrum of
services under the following key brands:
· Bounce Style Lounge ("Bounce") (3 outlets),
· Kanya Beauty Salon ("Kanya") (6 outlets)
· Oryza Day Spa ("Oryza")! (5 outlets)
· Cut-it-Out ("CIO") (2 outlets)
· Bliss by Oryza (1 outlets)
Headquartered in Chennai, Spalon has 18 outlets across Chennai and
Bangalore
The Company is promoted by Mrs. Latha Mohan and Mr. Vikram Mohan
The Company at present employs over 350 stylists, beauticians, masseurs
and trainers across its outlets.
Spalon intends to establish new outlets in its existing geographies and
important cities across Southern lndia to further strengthen its presence
through company owned outlets.
OVERVIEW
· The Group commenced operations with the opening of the first salon, Kanya Beauty Salon, in Chennai in 1981; this was followed by opening another salon in Chennai in 1986.
· The third and fourth Kanya salons were opened in Chennai in 1996 and 2002 respectively
· The Group expands to Bangalore with the opening of Kanya in mid-2002
· Bounces Style Lounge is established in Chennai in early 2004, one of the first premium unisex salon in the city
· Within a year of opening Bounce, the Group ventures into the spa format with Oryza Day Spa In Chennai in 2005; this was followed up with expanding Bounce to Bangalore, with the salon operating from a prime locale in Bangalore
· Oryza extends to Bangalore in 2008
· Cut It Out is introduced as a semi-premium brand with two outlets in Chennai in 2009 and a third one in 2011
· Bliss by Oryza is opened at Express Avenue mall, a premium mall in Chennai in 2010
· Oryza Day Spa commences operations at The Raintree Hotel in Chennai in 2011
· The sixth outlet of Kanya is opened in Chennai in 2012 followed by the third Oryza in Chennai
· The third Bounce Style Lounge opens in Bangalore in Sep'12
·
The fourth Bounce Style Lounge will open in ECR,
Chennai in June 2013 and another Oryza in Feb. 2013
SALOONS :
· Kanya Beauty Parler
· Oriyeza
· Cut it out
· Bounce Style Lounge
PROMOTER TEAM
MRS. LATHA MOHAN, CO-FOUNDER
· Post Graduate Aestheticienne Diploma from International Therapy Examination Council, UK
· Trained abroad at some of the world's schools incl. L'Oreal Coiffure, Vidal Sassoon UK, Toni and Guy and Pivot Point Singapore
· Founded Kanya Beauty Salon in 1981, the first brand of the Group
· Has over 30 yrs of outlet-level and managerial experience in the beauty industry across various formats
· Founder president of AlBHA (All India Beauty and Hairdressers Association)
MR. VIKRAM MOHAN, CO-FOUNDER AND CHIEF EXECUTIVE OFFICER
· Graduate in Hotel Management from Manipal University
· Worked with KLM Airlines in Dubai, UAE, in a global marketing role, traveling across the world
· Trained professionally at Vidal Sassoon, Toni and Guy, Sak's Academy and Pivot Point London
· Worked at Andrew Jose Salon in Prague, Czech Republic and also at the Haute Couture Winter/Fall Collection Paris
· Assisted Mrs. Latha in the management of Kanya from an early age and formally joined the Group when he co-founded Bounce Style Lounge, presently the flagship brand of the Group, in 2004
· Instrumental in conceptualization and launch of Oryza Day Spa (2005)) Cut It Out (2009) and Bliss by Oryza (2010)
· Established Bounce Style Academy in 2009 with a goal of honing skills of professional hairstylists
· His clientele include top actors from the South Indian film fraternity as well as sportsperson
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Land
· Building
· Car
· Computer
· Electrical Fittings
· Furniture and Fixture
· Genset
· Office Equipment
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.61.69 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.