MIRA INFORM REPORT
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Report No. : |
317815 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
UBISOFT ENTERTAINMENT INDIA PRIVATE LIMITED |
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Registered
Office : |
Level 6, B-3, The Cerebrum IT Park, Kalyani Nagar, Pune – 411006,
Maharashtra |
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Tel. No.: |
91-20-66424500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.05.2008 |
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Com. Reg. No.: |
11-131975 |
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Capital
Investment / Paid-up Capital : |
Rs. 52.919 Million |
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CIN No.: [Company Identification
No.] |
U72200PN2008FTC131975 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEU06291F |
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PAN No.: [Permanent Account No.] |
AAACU9861E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Gaming Software Development and Testing
Services. |
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No. of Employees
: |
Information declined by the management |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “UBISOFT ENTERTAINMENT SA, FRANCE”. It is well-established
company having satisfactory track record. The management has failed to file its financial record with government
department for the year 2014. As per the available financial record of 2013, rating reflects
company’s healthy financial risk profile marked by adequate liquidity
position and decent profitability level of the company. Further company receives strong financial and managerial support from
its parent company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of strong parent company support, the company can be
considered 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Prashant Dongare |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-20-66424544 |
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Date : |
16.04.2015 |
LOCATIONS
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Registered Office : |
Level 6, B-3, The Cerebrum IT Park, Kalyani Nagar, Pune – 411006,
Maharashtra, India |
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Tel. No.: |
91-20-66424500/ 66424544 |
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Fax No.: |
91-20-66424501 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Yves Guillemot |
|
Designation : |
Director |
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Address : |
13 Rue Faidherbe, Saint Mande, France 94160 |
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Date of Birth/Age : |
21.07.1960 |
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Date of Appointment : |
12.05.2008 |
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DIN No.: |
02132425 |
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Name : |
Christine Anne Marie Quemard Burgess |
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Designation : |
Director |
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Address : |
88, Chausseee De letang, Saint Mande, France 94160 |
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Date of Birth/Age : |
04.06.1958 |
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Date of Appointment : |
12.05.2008 |
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DIN No.: |
02154081 |
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Name : |
Jean Philippe Alphonse Lucien Pieuchot |
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Designation : |
Director |
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Address : |
19 Rue De Clave, Thorigny Sur Marne France 77400 |
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Date of Birth/Age : |
07.05.1974 |
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Qualification : |
Post Graduate in Human Sciences |
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Experience : |
14 Years |
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Date of Appointment : |
09.07.2012 |
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DIN No.: |
05328558 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Dongare |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
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Names of Shareholders |
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No. of Shares |
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Ubisoft Entertainment SA, France |
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5291923 |
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Ubisoft Production Internationale S.A.S., France |
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1 |
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Total |
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5291924 |
AS ON 30.09.2013
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Gaming Software Development and Testing
Services. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited Amar Avinash Corporate City, Near Inox Multiplex, Bund Garden Road, Pune - 411001, Maharashtra, India |
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Facilities : |
-- |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
B S R and Associates Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFB7355D |
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Holding company : |
Ubisoft Entertainment SA |
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Fellow Subsidiary
company : |
·
Ubisoft Inc ·
Ubisoft Motion Pictures SARL ·
Ubisoft SRL ·
Blue Byte GmbH ·
Ubisoft Singapore Pte Limited ·
Ubisoft International SAS ·
Ubisoft Emirates FZ LLC ·
Ubisoft Divertissements Inc ·
Shanghaï Ubi Computer Software Company
Limited ·
Ubisoft Production Internationale SAS ·
Chengdu Ubi Computer Software Company
Limited ·
Ubisoft Entertainment Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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11,509,030 |
Equity Shares |
Rs. 10/- each |
Rs. 115.090 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5,291,924 |
Equity Shares |
Rs. 10/- each |
Rs. 52.919 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
52.919 |
52.919 |
52.919 |
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(b) Reserves & Surplus |
66.454 |
50.779 |
39.955 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
119.373 |
103.698 |
92.874 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c)
Other long term liabilities |
3.287 |
3.973 |
4.659 |
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(d)
long-term provisions |
7.218 |
5.280 |
3.571 |
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Total
Non-current Liabilities (3) |
10.505 |
9.253 |
8.230 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
16.903 |
19.690 |
6.238 |
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(c)
Other current liabilities |
19.076 |
11.338 |
10.543 |
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(d)
Short-term provisions |
1.220 |
3.503 |
0.496 |
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Total
Current Liabilities (4) |
37.199 |
34.531 |
17.277 |
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TOTAL |
167.077 |
147.482 |
118.381 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
34.586 |
35.313 |
37.679 |
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(ii)
Intangible Assets |
0.318 |
0.802 |
3.917 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.518 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
3.363 |
2.716 |
0.735 |
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(d) Long-term Loan
and Advances |
36.950 |
8.596 |
7.198 |
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(e)
Other Non-current assets |
0.314 |
0.297 |
0.280 |
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Total
Non-Current Assets |
75.531 |
47.724 |
50.327 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
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(c)
Trade receivables |
69.840 |
40.153 |
12.507 |
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(d)
Cash and cash equivalents |
11.285 |
40.591 |
37.393 |
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(e)
Short-term loans and advances |
5.638 |
18.944 |
17.042 |
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(f)
Other current assets |
4.783 |
0.070 |
1.112 |
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Total
Current Assets |
91.546 |
99.758 |
68.054 |
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TOTAL |
167.077 |
147.482 |
118.381 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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TOTAL |
213.445 |
193.771 |
153.961 |
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Less |
EXPENSES |
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TOTAL |
178.306 |
162.013 |
126.221 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
35.139 |
31.758 |
27.740 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
11.794 |
14.379 |
14.975 |
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PROFIT BEFORE
TAX |
23.345 |
17.379 |
12.765 |
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Less |
TAX |
7.670 |
6.555 |
(0.848) |
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PROFIT AFTER TAX
|
15.675 |
10.824 |
13.613 |
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EARNINGS IN FOREIGN CURRENCY |
0.209 |
0.191 |
0.157 |
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Earnings Per
Share (Rs.) |
2.96 |
2.05 |
2.57 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.26 |
12.00 |
10.90 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.17 |
0.14 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
2.46 |
2.89 |
3.94 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
52.919 |
52.919 |
52.919 |
|
Reserves & Surplus |
39.955 |
50.779 |
66.454 |
|
Net
worth |
92.874 |
103.698 |
119.373 |
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Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
153.961 |
193.771 |
213.445 |
|
|
|
25.857 |
10.153 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
153.961 |
193.771 |
213.445 |
|
Profit |
13.613 |
10.824 |
15.675 |
|
|
8.84% |
5.59% |
7.34% |
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 |
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 |
-- |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10543887 |
15/01/2015 |
1,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
AMAR AVINASH CORPORATE
CITY, NEAR INOX MULTIPLEX, |
C40850547 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Second Floor,
Sharda Arcade, Pune-Satara Road, Pune - 411037, Maharashtra, India to the
present address w.e.f.07.12.2009.
CORPORATE OVERVIEW
The Company was incorporated in Pune, India on 9 May 2008 under the
Indian Companies Act, 1956 as a subsidiary of Ubisoft Entertainment SA, France.
The Company provides gaming software development and testing services
exclusively for its parent company. The Company has its operations located in
Pune.
FIXED ASSETS:
·
Furniture and fixtures
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
·
Computer software
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. 62.37 |
|
|
1 |
Rs. 92.44 |
|
Euro |
1 |
Rs. 66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.