MIRA INFORM REPORT
|
Report No. : |
334917 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
QUIKR INDIA PRIVATE LIMITED (w.e.f.27.05.2008) |
|
|
|
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Formerly Known
As : |
KIJIJI INDIA PRIVATE LIMITED |
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Registered
Office : |
Office No. 6, 1st Floor, Raghuvanshi Mansion, Raghuvanshi Mill Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-67290000 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.11.2005 |
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|
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Com. Reg. No.: |
11-157228 |
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Capital
Investment / Paid-up Capital : |
Rs. 49.832
Million |
|
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|
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CIN No.: [Company Identification
No.] |
U74130MH2005PTC157228 |
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|
|
IEC No.: |
Not Available |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK15031C |
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PAN No.: [Permanent Account No.] |
AACCK7004R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of e-commerce like buy, sell, rent of categories like furniture, mobile phones, cars and bikes, services pets, real estate, jobs, education, entertainment and matrimonial. |
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|
|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. It is classified as Indian Non-Government Company and is registered at
Registrar of Companies, Mumbai. Its authorized share capital is Rs. 10.000
Million and its paid up capital is Rs. 72.748 Million. Profitability of the company is under pressure. Subject has achieved
better growth in sales turnover but has reported loss from its operations
during FY 2014. However the rating takes into consideration subject above average
financial risk profile marked by sizeable networth base and cash balance. The
company is operating on its owned funds. Company has strong managerial financial and operational support from
its holding company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. In view of experienced promoters, strong support from its holding
company and established market position. 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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-22-67290000)
LOCATIONS
|
Registered Office : |
Office No. 6, 1st Floor, Raghuvanshi Mansion, Raghuvanshi Mill Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-67290000 |
|
Fax No.: |
91-22-67290001 |
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E-Mail : |
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Website : |
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Branch Offices : |
Located at: ·
New Delhi ·
Bangalore ·
Hyderabad ·
Pune ·
Chennai ·
Ahmedabad |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Atul Tewari |
|
Designation : |
Director |
|
Address : |
E-103, Shubham Apartments, NPCC Society, Plot No. 13, Sector 22,
Dwarka, New Delhi – 110075, India |
|
Date of Birth/Age : |
04.08.1972 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00551774 |
|
|
|
|
Name : |
Pranaya Chulet |
|
Designation : |
Director |
|
Address : |
B-181, Mangal Marg, Bapunagar, Jaipur – 302015, Rajasthan, India |
|
Date of Birth/Age : |
19.03.1973 |
|
Date of Appointment : |
24.12.2008 |
|
DIN No.: |
02440593 |
KEY EXECUTIVES
|
Name : |
Mr. Sumeer Goyal |
|
Designation : |
VP-Technology |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
IIT, MS (US) |
|
|
|
|
Name : |
Mr. Anand Prabhudesai |
|
Designation : |
VP-Mobile |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
B. Tech, MBA |
|
|
|
|
Name : |
Mr. Dhirendra Mahyavanshi |
|
Designation : |
VP-Sales |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
MBA |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Quikr Mauritius Holding Private Limited, Mauritius |
|
6054258 |
|
Conqueror Limited, Mauritius |
|
1 |
|
|
|
|
|
Total |
|
6054259 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of e-commerce like buy, sell, rent of categories like furniture, mobile phones, cars and bikes, services pets, real estate, jobs, education, entertainment and matrimonial. |
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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 : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Quikr Mauritius Holding Private Limited, Mauritius |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,054,259 |
Equity Shares |
Rs. 10/- each |
Rs. 60.543
Million |
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|
|
|
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,983,224 |
Equity Shares |
Rs. 10/- each |
Rs. 49.832
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.832 |
42.001 |
19.648 |
|
(b) Reserves & Surplus |
726.685 |
776.939 |
186.594 |
|
(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) |
776.517 |
818.940 |
206.242 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
4.943 |
2.542 |
1.140 |
|
Total
Non-current Liabilities (3) |
4.943 |
2.542 |
1.140 |
|
|
|
|
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|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
314.814 |
145.800 |
50.363 |
|
(c)
Other current liabilities |
233.421 |
118.968 |
22.830 |
|
(d)
Short-term provisions |
1.029 |
0.487 |
0.266 |
|
Total
Current Liabilities (4) |
549.264 |
265.255 |
73.459 |
|
|
|
|
|
|
TOTAL |
1330.724 |
1086.737 |
280.841 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
58.142 |
27.697 |
9.362 |
|
(ii)
Intangible Assets |
3.310 |
2.609 |
0.223 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
54.229 |
50.234 |
23.780 |
|
(e)
Other Non-current assets |
0.000 |
740.998 |
195.598 |
|
Total
Non-Current Assets |
115.681 |
821.538 |
228.963 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
178.399 |
51.663 |
7.000 |
|
(d)
Cash and cash equivalents |
953.523 |
11.504 |
1.487 |
|
(e)
Short-term loans and advances |
78.563 |
196.351 |
40.885 |
|
(f)
Other current assets |
4.558 |
5.681 |
2.506 |
|
Total
Current Assets |
1215.043 |
265.199 |
51.878 |
|
|
|
|
|
|
TOTAL |
1330.724 |
1086.737 |
280.841 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
237.060 |
181.525 |
86.275 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
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TOTAL |
NA
|
NA
|
NA
|
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|
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|
PROFIT/ (LOSS)
BEFORE TAX |
(2002.518) |
(784.352) |
(219.107) |
|
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|
|
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|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.018 |
|
|
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|
|
PROFIT/ (LOSS)
AFTER TAX |
(2002.518) |
(784.352) |
(219.125) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(150.48) |
(72.17) |
(78.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.58) |
(0.96) |
(1.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
1.00 |
0.71 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of
Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
19.648 |
42.001 |
49.832 |
|
Reserves & Surplus |
186.594 |
776.939 |
726.685 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
206.242 |
818.940 |
776.517 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Income |
86.275 |
181.525 |
237.060 |
|
|
|
110.403 |
30.594 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Income |
86.275 |
181.525 |
237.060 |
|
Profit/ (Loss) |
(219.125) |
(784.352) |
(2002.518) |
|
|
(253.98%) |
(432.09%) |
(844.73%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from No. 1 / 2 /
3, Marol Bhavan, Marol Co-operative Industrial, Plot No. 4, CTS No.443 / 4,
M.V. Road, Andheri [East], Mumbai - 400059, Maharashtra, India to the present
address w.e.f.01.06.2012.
CORPORATE
INFORMATION
Subject incorporated in India, is a subsidiary of Quikr Mauritius
Holding Private Limited. It is into the business of e-commerce and owns
“Quikr.com” website.
Quikr is a city based free classified website that helps people buy,
sell, rent, find in categories like furniture, mobile phones, cars and bikes,
services pets, real estate, jobs, education, entertainment and matrimonial. One
can post free ads and reply to ads on Quikr in the city one lives in Quikr’s
classified websites allow a person to post free ads, find what they are looking
for and address their regular needs by connecting people in a faster, simple and easier way. Quikr has
launched premium ads on its website where an uter can opt to pay and list
his/her ad as a premium as enabling more and faster responses to those
ads.
BUSINESS REVIEW
During the year, gross income of the company was Rs. 237.060 Million as
against Rs. 181.525 Million in the previous financial year. The net loss for
the year was Rs. 2002.518 Million as against Rs. 784.352 Million during the
previous financial year due to unfavorable market conditions and economic
slowdown. The Company has implemented various measures to improve its
performance and reduce its cost.
FIXED ASSETS:
· Computers
· Leasehold Improvement
· Furniture and Fixture
· Office Equipment
· 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. 64.01 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
46 |
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.