MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
YUM RESTAURANTS (INDIA) PRIVATE LIMITED (w.e.f. 2002) |
|
|
|
|
Formerly Known
As : |
TRICON RESTAURANTS ( INDIA ) PRIVATE LIMITED (w.e.f. 1997) PEPSI RESTAURANTS ( INDIA) PRIVATE LIMITED (w.e.f. 1995) KFC INDIA HOLDING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
258, Satyam Tower, Opposite Jwalaheri Market, Paschim Vihar, New Delhi
– 110063 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.03.1994 |
|
|
|
|
Com. Reg. No.: |
55-057894 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2102.251
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PTC057894 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELYOO521D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY1883E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is
primarily engaged in the business of developing and managing quick service
restaurant brands – KFC, Pizza Hut and Taco Bell through a mix of own stores
and franchisees. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
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 : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Yum! Asia Franchisee Pte Limited,
Singapore”. It is an established company having moderate track. The rating reflects company’s moderate financial risk profile marked
by low reserves levels and continuous losses that company has incurred from
its operations. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for busyness dealing 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
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
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.
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 : |
258, Satyam Tower, Opposite Jwalaheri Market, Paschim Vihar, New Delhi
– 110063, Delhi, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate
Office/ Administrative office: |
12th Floor, Tower D, Global Business Park, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-124-4025100 |
|
Fax No.: |
91-124-4060755 |
DIRECTORS
(AS ON 30.10.2013)
|
Name : |
Mr. Vijayasukumar C. Veettil |
|
Designation : |
Director |
|
Address : |
Apartment A-106, Oakwood Estates DLF Phase- 2. Gurgaon – 122 002, |
|
Date of Birth/Age : |
28.03.1963 |
|
Date of Appointment : |
20.04.2009 |
|
PAN No.: |
ABOPV3103C |
|
DIN No.: |
00073869 |
|
|
|
|
Name : |
Mr. Niren Chaudhary |
|
Designation : |
Managing Director |
|
Address : |
A-18, Block –A,
Nirman Vihar, Delhi, India |
|
Date of Birth/Age : |
13.01.1963 |
|
Date of Appointment : |
25.06.2007 |
|
PAN No.: |
AADPC500B |
|
DIN No.: |
01854964 |
|
|
|
|
Name : |
Mr. Ankush Tuli |
|
Designation : |
Director |
|
Address : |
H. No.: 302, Tower 12, The Close South Nirvana Country, Gurgaon –
122002, Haryana, India |
|
Date of Birth/Age : |
12.07.1975 |
|
Date of Appointment : |
20.03.2012 |
|
PAN No.: |
AEPPT8242Q |
|
DIN No.: |
02146818 |
|
|
|
|
Name : |
Mr. Tarun Lal |
|
Designation : |
Director |
|
Address : |
A-3, 1202, World SPA, Sector 30 and 41, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
21.12.1968 |
|
Date of Appointment : |
01.09.2008 |
|
PAN No.: |
AAEPL3525H |
|
DIN No.: |
02336206 |
|
|
|
|
Name : |
Mr. Unnat Subhash Varma |
|
Designation : |
Director |
|
Address : |
M 14/31, DLF City Phase II, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
10.04.1970 |
|
Date of Appointment : |
20.03.2012 |
|
PAN No.: |
ABEPV5898E |
|
DIN No.: |
02862284 |
|
|
|
|
Name : |
Mr. Sandeep Kataria |
|
Designation : |
Director |
|
Address : |
Emaar Plam Spring, B702, Golf Course Road, Sector S3, Gurgaon –
121104, Haryana, India |
|
Date of Birth/Age : |
09.01.1970 |
|
Date of Appointment : |
20.03.2012 |
|
PAN No.: |
ACRPK3652R |
|
DIN No.: |
05183714 |
|
|
|
|
Name : |
Mr. Sanjiv Kumar Razdan |
|
Designation : |
Director |
|
Address : |
C-8D, DDA Flats, Munirka, New Delhi – 1100657, India |
|
Date of Birth/Age : |
21.10.1974 |
|
Date of Appointment : |
20.03.2012 |
|
PAN No.: |
AAEPR8817J |
|
DIN No.: |
05192150 |
|
|
|
|
Name : |
Ms. Sanchita Singh |
|
Designation : |
Director |
|
Address : |
G-502, Central Park 1, Sector 42, Sector ROD, Gurgaon – 122002, Haryana,
India |
|
Date of Birth/Age : |
13.09.1973 |
|
Date of Appointment : |
14.08.2013 |
|
DIN No.: |
03591080 |
|
|
|
|
Name : |
Mr. Rajiv Minocha |
|
Designation : |
Director |
|
Address : |
E-80, Preet Vihar, Vikas Marg, New Delhi – 110092, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
14.08.2013 |
|
DIN No.: |
00252481 |
|
|
|
|
Name : |
Mr. Gaurav Tewari |
|
Designation : |
Director |
|
Address : |
Tower A-1, Flat 701, The World SPA, Sector 31, Gurgaon – 122001,
Haryana, India |
|
Date of Birth/Age : |
29.07.1973 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No.: |
06585816 |
|
|
|
|
Name : |
Mr. Devashish Dasgupta |
|
Designation : |
Director |
|
Address : |
K-2144, Chittranjan Park, New Delhi – 110019, India |
|
Date of Birth/Age : |
29.11.1965 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No.: |
00213229 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar Singh |
|
Designation : |
Company Secretary |
|
Address : |
WZ-72, Near Oriental Bank Of Commerce, Palam, |
|
Date of Appointment : |
31.07.2008 |
|
PAN No.: |
ASMPS4194H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.10.2013)
|
Name of Shareholders
|
|
No of
Shares |
|
|
|
|
|
Yumi Asia Franchisee Pte Limited, Singapore |
|
229685912 |
|
Yumi Restaurants China Holdings Limited, Hong Kong |
|
8 |
|
|
|
|
|
Total |
|
229685920 |
(AS ON 30.10.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20-%20265155%2024-May-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is
primarily engaged in the business of developing and managing quick service
restaurant brands – KFC, Pizza Hut and Taco Bell through a mix of own stores
and franchisees. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Citi Bank |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
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||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower B, DLF Cyber City, Phase
II, India |
|
Tel. No.: |
91-124-2549191 |
|
Fax No.: |
91-124-2549101 |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Ultimate Holding
Company : |
Yum! Brands Inc., USA |
|
|
|
|
Holding Company |
Yum! Asia Franchisee Pte Limited, Singapore |
|
|
|
|
Subsidiary company |
Yum! Restaurants Marketing Private Limited |
|
|
|
|
Fellow Subsidiaries |
· Yum! Restaurants Europe Limited, United Kingdom · Yum! Restaurants International Limited, Dubai · KFC Holdings BV, Netherland · Yum! Restaurants International Inc, USA ·
Yum! Restaurants Australia Pty Ltd, Australia ·
Yum! Restaurants (Thailand) Company Limited, Thailand ·
Kentucky Fried Chicken (Great Britain) Limited, United Kingdom ·
Yum! Restaurants International Limited, Geneva · Pizza Hut UK Limited, United Kingdom |
CAPITAL STRUCTURE
(AFTER -
30.10.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260000000 |
Equity Shares |
Rs.10/- each |
Rs.2600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
243853996 |
Equity Shares |
Rs.10/- each |
Rs.2438.540
Millions |
|
|
|
|
|
(AS ON 30.10.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260000000 |
Equity Shares |
Rs.10/- each |
Rs.2600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
229685920 |
Equity Shares |
Rs.10/- each |
Rs.2296.859 Millions |
|
|
|
|
|
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260000000 |
Equity Shares |
Rs.10/- each |
Rs.2600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210225113 |
Equity Shares |
Rs.10/- each |
Rs.2102.251 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 |
2102.251 |
2543.988 |
2374.989 |
|
(b) Reserves & Surplus |
751.821 |
(572.998) |
(1085.162) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
175.011 |
|
Total Shareholders’
Funds (1) + (2) |
2854.072 |
1970.990 |
1464.838 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.576 |
24.734 |
14.799 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
196.274 |
153.175 |
115.098 |
|
(d) long-term provisions |
20.019 |
19.011 |
5.866 |
|
Total Non-current Liabilities (3) |
236.869 |
196.920 |
135.763 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
567.866 |
311.103 |
339.282 |
|
(c) Other current
liabilities |
356.647 |
273.992 |
245.688 |
|
(d) Short-term provisions |
0.313 |
0.260 |
0.824 |
|
Total Current Liabilities (4) |
924.826 |
585.355 |
585.794 |
|
|
|
|
|
|
TOTAL |
4015.767 |
2753.265 |
2186.395 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2195.983 |
1520.957 |
1105.902 |
|
(ii) Intangible Assets |
21.199 |
38.494 |
13.270 |
|
(iii) Capital
work-in-progress |
300.686 |
89.610 |
67.230 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
829.716 |
745.523 |
556.191 |
|
(e) Other Non-current assets |
0.395 |
0.260 |
0.125 |
|
Total Non-Current Assets |
3348.079 |
2394.944 |
1742.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
72.216 |
51.871 |
29.105 |
|
(c) Trade receivables |
213.933 |
89.401 |
57.997 |
|
(d) Cash and cash
equivalents |
187.810 |
107.529 |
314.377 |
|
(e) Short-term loans and
advances |
193.669 |
109.499 |
42.036 |
|
(f) Other current assets |
0.060 |
0.021 |
0.062 |
|
Total Current Assets |
667.688 |
358.321 |
443.577 |
|
|
|
|
|
|
TOTAL |
4015.767 |
2753.265 |
2186.395 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
INCOME (GROSS
REVENUE) |
6331.127 |
4499.005 |
2834.262 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
6804.830 |
4868.389 |
3105.770 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(473.703) |
(369.384) |
(271.508) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(473.703) |
(369.384) |
(271.507) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service
income |
332.498 |
318.384 |
250.266 |
|
|
|
Sale
at Company owned stores |
20.637 |
15.609 |
0.000 |
|
|
TOTAL EARNINGS |
353.135 |
333.993 |
250.266 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
146.052 |
154.522 |
121.266 |
|
|
TOTAL IMPORTS |
146.052 |
154.522 |
121.266 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.98) |
(1.45) |
(1.14) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.75) |
(13.87) |
(12.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
(0.19) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.72 |
0.61 |
0.76 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
2374.989 |
2543.988 |
2102.251 |
|
Reserves & Surplus |
(1085.162) |
(572.998) |
751.821 |
|
Share Application money pending allotment |
175.011 |
0.000 |
0.000 |
|
Net worth |
1464.838 |
1970.990 |
2854.072 |
|
|
|
|
|
|
long-term borrowings |
14.799 |
24.734 |
20.576 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
14.799 |
24.734 |
20.576 |
|
Debt/Equity ratio |
0.010 |
0.013 |
0.007 |
%20PRIVATE%20LIMITED%20-%20265155%2024-May-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income (Gross Revenue) |
2,834.262 |
4,499.005 |
6,331.127 |
|
|
|
58.736 |
40.723 |
%20PRIVATE%20LIMITED%20-%20265155%2024-May-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income (Gross Revenue) |
2,834.262 |
4,499.005 |
6,331.127 |
|
Profit |
(271.507) |
(369.384) |
(473.703) |
|
|
(9.58%) |
(8.21%) |
(7.48%) |
%20PRIVATE%20LIMITED%20-%20265155%2024-May-2014_files/image008.gif)
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 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 |
No |
------------------------------------------------------------------------------------------------------------------------------
IN THE HIGH COURT OF DELHI AT NEW DELHI
ITA 158/2012 and CA Nos. 14481-83/2012
CIT... Appellant
Through
versus
YUM RESTAURANTS INDIA PVT LTD ..... Respondent
Through
CORAM:
HON'BLE MR. JUSTICE S. RAVINDRA BHAT
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
08.05.2014
Renotify on 08.09.2014.
S. RAVINDRA BHAT, J
VIBHU BAKHRU, J
MAY 08, 2014
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The Registered office of the company has been shifted
from 84-F, C 6 Lane, Sainik Farms, New Delhi, India to the present address
w.e.f. 11.04.2011.
BACKGROUND
Company was incorporated on
17 March 1994 as ‘KFC India Holding Private Limited’. The name of the Company
was changed to ‘Pepsico Restaurants International (India) Private Limited’ in
1995 and again the name of the Company was changed to ‘Tricon Restaurants
(India) Private Limited’ in 1997 and then to the present name in 2002. The
Company is primarily engaged in the business of developing and managing quick
service restaurant brands KFC, Pizza Hut and Taco Bell through a mix of own
stores and franchisees. Company also provides support services to KFC, Pizza
Hut and A&W restaurants in certain neighboring countries.
OPERATION AND
PERFORMANCE
The operation and
performance of the company is satisfactory and progressive. The Company’s Gross
Receipts has increased to Rs.6331.100 Millions as compared to previous year of
Rs.4499.000 Millions. The company has achieved better results as compared to previous
year due to effective and efficient utilization of its resources. The
Management has observed the effective operation of owner operator system as
introduced in 2009 which is yielding positive results. The management is
starving hard to bring better results ahead.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Software
· Leasehold Improvements
· Office Equipment
· Plant and Machinery
· Furniture and Fixtures
· Computers
·
Vehicles
·
Leased Assets
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.