MIRA INFORM REPORT
|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RIYA TRAVEL AND TOURS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gulab Building, 237, P.D Mello Road, Fort, Mumbai –
400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066873 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.456.975 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1992PTC066873 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR09065A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR3178B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Air ticketing business. |
|
|
|
|
No. of Employees
: |
Information declined 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 4437000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems sharp dip in the profit of the company during 2013 however
net worth of the company is satisfactory. General financial position of the
position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Fund Based Limits) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3(Non Fund Based Limits) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
February 2014 |
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 DENIED BY
|
Name : |
Mr. Shrishal |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66594949 |
|
Date : |
09.06.2014 |
LOCATIONS
|
Registered Office : |
Gulab Building, 237, P.D Mello Road, Fort, Mumbai –
400001, Maharashtra, India |
|
Tel. No. : |
91-22-66294949 / 66294863 |
|
Fax No. : |
91-22-22625378 / 22631891 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
M/1, Leela Business Park, Andheri Kurla Road, Andheri (East),
Mumbai - 400059, Maharashtra, India |
|
Tel. No. : |
91-22-67772300 |
|
|
|
|
Retail Offices : |
Located At:
|
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. George Maniyattu John |
|
Designation : |
Director |
|
Address : |
23, Eden Bunglow, Hiranandani Garden, A.D.S. Marg, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1954 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
21.05.1992 |
|
Experience : |
30 Years |
|
PAN No. : |
AADPJ2644Q |
|
DIN No. : |
00971584 |
|
|
|
|
Name : |
Gracy George |
|
Designation : |
Director |
|
Address : |
23, Eden Bunglow, Hiranandani Garden, A.D.S. Marg, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1983 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
21.05.1992 |
|
Experience : |
25 Years |
|
PAN No.: |
AAMPG2666C |
|
DIN No. : |
00971540 |
|
|
|
|
Name : |
Mr. Nitin George John |
|
Designation : |
Director |
|
Address : |
23, Eden Bunglow, Hiranandani Garden, A.D.S. Marg, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1983 |
|
Qualification : |
B.Com, MBA |
|
Date of Appointment : |
01.04.2007 |
|
Experience : |
9 Years |
|
PAN No. : |
AEHPJ5162M |
|
DIN No. : |
00988426 |
|
|
|
|
Name : |
Mr. Thomas Mathai |
|
Designation : |
Director |
|
Address : |
Kunnummel House, Periyapuram, Pampakuda, Ernakulam - 686667, Kerala, India |
|
Date of Birth/Age : |
06.04.1968 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
ADQPM3064K |
|
DIN No. : |
02202230 |
|
|
|
|
Name : |
Mr. Jacob Varughese |
|
Designation : |
Director |
|
Address : |
306, Aeroview C.H.S. Road, No.2, Church Pakhadi, Sahar, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1953 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
ABQPV9526R |
|
DIN No. : |
02206842 |
|
|
|
|
Name : |
Mr. Jayan Madhavan Nair |
|
Designation : |
Director |
|
Address : |
B-5, Flat No.601, Janaki Blog, Cosmopol, Itan, C.H.S., 19/A, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
AAAPN5313N |
|
DIN No. : |
02210670 |
|
|
|
|
Name : |
Mr. Benson Samuel |
|
Designation : |
Director |
|
Address : |
604, GH-7, Suncity, Orchid Garden, Sector-54, Gurgaon, Delhi, India |
|
Date of Birth/Age : |
18.10.1972 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
BAUPS9502A |
|
DIN No. : |
02174907 |
|
|
|
|
Name : |
Mr. Thomas Samuel |
|
Designation : |
Director |
|
Address : |
Lovedale, Kodamalikunnu Road, Nellikode, Calicut – 673016, Kerala, India |
|
Date of Birth/Age : |
17.08.1947 |
|
Qualification : |
B.Tech |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
ABPPT6432R |
|
DIN No. : |
02175157 |
|
|
|
|
Name : |
Mr. Manoj Samuel |
|
Designation : |
Director |
|
Address : |
301, Ganesh Prerna, Plot No.143, Sector-10, New Panvel, Navi Mumbai – 410206, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1974 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2008 |
|
PAN No. : |
AYMPS4550P |
|
DIN No. : |
02175164 |
KEY EXECUTIVES
|
Name : |
Mr. Shrishal |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
George Maniyattu John |
|
4480776 |
|
Gracy George |
|
88974 |
|
Total |
|
4569750 |
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image016.gif)
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Air ticketing business. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P S Sanghvi and Company |
|
Address : |
8, Datta Nivas, 210, Shivaji Park Road, No. 5, Pandurang Naik Road, Mumbai-400016, Maharashtra, India |
|
PAN No. : |
AAHPS5608P |
|
|
|
|
Subsidiary Company
: |
Riya Travel and Tours Inc |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
U63040MH2007PTC169657
U55100MH2002PTC137922 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5200000 |
Equity Shares |
Rs.100/- each |
Rs.520.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4569750 |
Equity Shares |
Rs.10/- each |
Rs.456.975 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
456.975 |
456.975 |
456.975 |
|
(b) Reserves & Surplus |
652.278 |
584.941 |
417.232 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1109.253 |
1041.916 |
874.207 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1.756 |
3.758 |
|
(b) Deferred tax liabilities
(Net) |
5.111 |
5.422 |
4.959 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.171 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
8.282 |
7.178 |
8.717 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
248.224 |
238.468 |
637.811 |
|
(b) Trade payables |
4627.646 |
4281.378 |
2384.886 |
|
(c) Other current liabilities |
552.901 |
355.317 |
152.010 |
|
(d) Short-term provisions |
0.155 |
0.135 |
0.039 |
|
Total
Current Liabilities (4) |
5428.926 |
4875.298 |
3174.746 |
|
|
|
|
|
|
TOTAL |
6546.461 |
5924.392 |
4057.670 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
209.928 |
203.779 |
164.224 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
22.931 |
22.906 |
16.219 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
202.680 |
144.909 |
101.824 |
|
(e) Other Non-current assets |
66.409 |
52.159 |
0.000 |
|
Total
Non-Current Assets |
501.948 |
423.753 |
282.267 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
4458.590 |
4217.120 |
2978.667 |
|
(d) Cash and cash equivalents |
403.329 |
378.818 |
233.967 |
|
(e) Short-term loans and
advances |
1182.275 |
904.314 |
562.769 |
|
(f) Other current assets |
0.319 |
0.387 |
0.000 |
|
Total
Current Assets |
6044.513 |
5500.639 |
3775.403 |
|
|
|
|
|
|
TOTAL |
6546.461 |
5924.392 |
4057.670 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
|
1054.014 |
1007.704 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
103.820 |
246.221 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
36.483 |
79.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
67.337 |
166.614 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
NA |
374.136 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
14.74 |
36.46 |
|
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image004.gif){kind=small}
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
810.425 |
|
|
|
Other Income |
|
|
6.876 |
|
|
|
TOTAL |
|
|
817.301 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
550.180 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
267.121 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
24.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
242.705 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
81.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
161.050 |
|
|
|
|
|
|
|
|
|
Less |
Short
Provision of Tax of Earlier year |
|
|
0.164 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
213.250 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
374.136 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
35.24 |
|
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
19.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
29.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.59 |
4.17 |
6.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.24 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22 |
0.23 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.13 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
456.975 |
456.975 |
456.975 |
|
Reserves & Surplus |
417.232 |
584.941 |
652.278 |
|
Net
worth |
874.207 |
1041.916 |
1109.253 |
|
|
|
|
|
|
long-term borrowings |
3.758 |
1.756 |
0.000 |
|
Short term borrowings |
637.811 |
238.468 |
248.224 |
|
Total
borrowings |
641.569 |
240.224 |
248.224 |
|
Debt/Equity
ratio |
0.734 |
0.231 |
0.224 |
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image018.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
1007.704 |
1054.014 |
|
|
|
4.596 |
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image020.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
1007.704 |
1054.014 |
|
Profit |
166.614 |
67.337 |
|
|
16.53% |
6.39% |
%20PRIVATE%20LIMITED%20-%20271372_MIRA%2010-Jun-2014_files/image022.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
1.751 |
2.001 |
1.789 |
|
|
|
|
|
|
Total |
1.751 |
2.001 |
1.789 |
|
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
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 |
Yes |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Stamp No:- |
CEXAL/322/2013 |
Failing Date:- |
16/11/2013 |
Reg. No.:- |
CEXA/13/2014 |
Reg. Date:- |
29/01/2014 |
|
Petitioner:- |
THE COMMISSIONER OF SERVICE TAX- MUMBAI I |
Respondent:- |
M/S RIYA TRAVELS & TOURS (INDIA) PVT. LTD. |
||||
|
Petn.Adv:- |
SUCHITRA KAMBLE (I2836) |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
CENTRAL EXCISE APPEAL (CEXA) |
||||
|
Status:- |
Pre-Admission |
Stage:- |
|
||||
|
Last Date:- |
Central Excise & Salt Act |
Under Section:- |
35G |
||||
FINANCIAL RESULTS
The total Revenue of the company for the Twenty-first year stood at Rs.1054.014 Millions (P.Y. Rs.1007.704 Millions) showing the increase by 4.60 % as compared to previous year and profit after tax stood at Rs. 67.337 Millions (P.Y. Rs.166.614 Millions) showing the decrease by 40.41% as compared to previous year even though there is increase in gross turnover.
Economic Scenario
Indian Economy during the Financial Year 2012-2013, witnessed slow growth, falling rupee to an all time low against dollar and poor monsoon. This resulted in reduced spending by Corporate and Individual Travelers on travel expenses. In addition to that Kingfisher Airlines and Bahrain Air stopped their operations as they suffered heavy losses. The company is proud to mention that even under such scenario, the Gross Sale of Air Tickets of the company had increased from 4,928 crores to 5,934 crores showing increase by 20.41 %. However due to competition and due to strain on achieving turnover, higher discount was given which affected the profitability.
However during the current Financial Year 2013-14, GDP growth is projected to rise modestly to around 6% with much of the improvement likely only in the second half of the year. The value of rupee against dollar is now stabilized and monsoon during the year has been normal and various steps have been taken by Management to reduce the overhead cost. The Company has spent in modernization of various systems and operations and more staff has been employed for expansion of operations and the benefit of such expansion and modernization is expected to be achieve in current financial year.
FIXED ASSETS
Tangible Assets
- Furniture and fixtures
- Office building
- Vehicles
- Computer equipments
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.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.