MIRA INFORM REPORT
|
Report No. : |
337353 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
THOMAS COOK (INDIA) LIMITED (w.e.f. 07.03.1979) |
|
|
|
|
Formerly Known
As : |
THOMAS COOK ( |
|
|
|
|
Registered
Office : |
Thomas Cook Building, D N Road, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-61603333 /
660917001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation
: |
21.10.1978 |
|
|
|
|
Com. Reg. No.: |
11-020717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 316.961
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L63040MH1978PLC020717 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is engaged in diversified businesses primarily working as an Authorised Foreign Exchange Dealer. The Company is also engaged in Tour and Travel Business and working as Travel Agent and Tour Operator. |
|
|
|
|
No. of Employees
: |
2686 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. Financial position seems to be strong and sound. The rating also takes into consideration the strong brand image in the
foreign exchange and travel business. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. The company can be considered good 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
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating AA |
|
Rating Explanation |
Have high degree of safety and carry very
low credit risk. |
|
Date |
August, 2015 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-61603333)
LOCATIONS
|
Registered/ Head Office : |
Thomas Cook Building, Dr. D N Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-61603333 /
660917001 |
|
Fax No.: |
91-22-22844529 /
66091454 / 22871069 / 25291196 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices : |
Located at: · Maharashtra · Andhra Pradesh · Goa · Haryana · Gujarat · Himachal Pradesh · Karnataka · Assam · Bihar · Chhattisgarh · Jharkhand · Madhya Pradesh · Orissa · Kerala · Punjab · New Delhi · Tamilnadu · Uttaranchal · Uttar Pradesh · Rajasthan · West Bengal |
|
|
|
|
Airport Counters : |
Located at: · Mumbai · Ernakulum · Bangalore · New Delhi · Trivandrum |
|
|
|
|
Learning Offices : |
Located at: · Mumbai · Pune · Chennai ·
Kochi |
|
|
|
|
International
Offices : |
Located at: · Mauritius ·
Sri Lanka |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Mahendra Kumar Charan Das Sharma |
|
Designation : |
Non-Executive Chairman-Independent |
|
Address : |
192 Centrum Towers Barkhat Ali Road, Near Wadala Flyover Wadala
(East), Mumbai – 400037, Maharashtra, India
|
|
Date of Birth/Age : |
04.05.1947 |
|
Date of Appointment : |
14.12.2010 |
|
DIN No.: |
00327684 |
|
|
|
|
Name : |
Mr. Madhavan Karunakara Menon |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 702, Supreme Pearl, 17th Road, Khar (West), Mumbai
– 400052, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1955 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.05.2000 |
|
DIN No.: |
00008542 |
|
|
|
|
Name : |
Mr. Pravir Kumar Vohra |
|
Designation : |
Additional Non-Executive – Independent Director |
|
|
|
|
Name : |
Harsha Raghavan |
|
Designation : |
Non-Executive Director |
|
|
|
|
Name : |
Chandran Ratnaswami |
|
Designation : |
Non-Executive Director |
|
|
|
|
Name : |
Uday Chander Khanna |
|
Designation : |
Non-Executive Independent Director |
|
|
|
|
Name : |
Kishori Udeshi |
|
Designation : |
Non-Executive Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Rambhau Rudraji Kenkare |
|
Designation : |
President and Head – Legal and Company Secretary |
|
Address : |
B-202, 2nd Floor, Pluto Vasant Galaxy, Bangur Nagar
Junction, Off M.G. Link Road, Goregaon (West), Mumbai – 400090, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
01.12.1998 |
|
Pan No.: |
AAHPK0996N |
|
|
|
|
Name : |
Mr. Menon
Madhavan |
|
Designation : |
Managing
Director |
|
|
|
|
Name : |
Mr. R.R. Kenkare |
|
Designation : |
President and Head Legal and Company Secratry |
|
|
|
|
Name : |
Mr. Debasis Nandy |
|
Designation : |
President and Chief Financial Officer |
|
|
|
|
Name : |
Mr. Rajeev Kale |
|
Designation : |
Chief Operating Officer - Leisure Travel (MICE, Domestic, Cruises and
Sports Holidays) |
|
|
|
|
Name : |
Mr. Amit Madhan |
|
Designation : |
Chief Operating Officer – IT and E-Services |
|
|
|
|
Name : |
Mr. Mahesh Iyer |
|
Designation : |
Senior Vice President and Head – Foreign Exchange |
|
|
|
|
Name : |
Mr. Prashant Narayan |
|
Designation : |
Senior Vice President and Head – Leisure Travel (Inbound) |
|
|
|
|
Name : |
Mr. Indiver Rastogi |
|
Designation : |
Senior Vice President and Head – Global Enterprise Business |
|
|
|
|
Name : |
Mr. Abraham Alapatt |
|
Designation : |
Head Marketing |
|
|
|
|
Name : |
Mr. Jatinder Paul Singh |
|
Designation : |
Senior Vice President and Head – Sales and Distribution, Leisure
Travel (Outbound) |
|
|
|
|
Name : |
Ms. Shibani Phadkar |
|
Designation : |
Senior Vice President Leisure Travel (Outbound), Products and
Operations |
|
|
|
|
Name : |
Mona Cherian |
|
Designation : |
Chief Operating Officer and Head Human Resources |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
|
||
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
|
|
|
|
203923725 |
74.77 |
|
|
203923725 |
74.77 |
|
Total shareholding of
Promoter and Promoter Group (A) |
203923725 |
74.77 |
|
|
|
|
|
(B) Public Shareholding |
||
|
|
|
|
|
|
6356847 |
2.33 |
|
|
31559 |
0.01 |
|
|
6333494 |
2.32 |
|
|
24850215 |
9.11 |
|
|
2287721 |
0.84 |
|
|
2287721 |
0.84 |
|
|
39859836 |
14.62 |
|
|
|
|
|
|
5284705 |
1.94 |
|
|
|
|
|
Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
21958282 |
8.05 |
|
Individual shareholders
holding nominal share capital in excess of Rs. 0.100 Million |
1596679 |
0.59 |
|
|
107600 |
0.04 |
|
|
7600 |
0.00 |
|
|
100000 |
0.04 |
|
|
28947266 |
10.61 |
|
Total Public shareholding
(B) |
68807102 |
25.23 |
|
|
|
|
|
Total (A)+(B) |
272730827 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
272730827 |
100.00 |
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image016.gif){kind=small}
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image017.gif){kind=small}
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image018.gif){kind=small}
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image020.gif)
SHAREHOLDING OF
SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS
BELONGING TO THE CATEGORY PROMOTER AND PROMOTER GROUP
|
Name of the
Shareholder |
Details of Shares
held |
Details of
convertible securities |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
||
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
Number of
convertible securities held |
As a % total number
of convertible securities of the same class |
||
|
Fairbridge Capital Mauritius Limited |
2,21,82,276 |
8.13 |
44230000 |
100.00 |
20.95 |
|
Fairbridge Capital Mauritius Limited |
8,23,01,202 |
30.18 |
0 |
0.00 |
25.97 |
|
Fairbridge Capital Mauritius Limited |
1,82,70,000 |
6.70 |
0 |
0.00 |
5.76 |
|
H Investments |
8,11,70,247 |
29.76 |
0 |
0.00 |
25.61 |
|
Total |
20,39,23,725 |
74.77 |
44230000 |
100.00 |
78.29 |
SHAREHOLDING OF SECURITIES
(INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO
THE CATEGORY PUBLIC AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
Citigroup Global Markets Mauritius Private Limited |
3000818 |
1.10 |
0.95 |
|
|
Kotak Mahindra (International) Limited |
4359365 |
1.60 |
1.38 |
|
|
Copthall Mauritius Investment Limited |
3539610 |
1.30 |
1.12 |
|
|
ICICI Prudential Life Insurance Company Limited |
6333494 |
2.32 |
2.00 |
|
|
India Capital Fund Limited |
3257692 |
1.19 |
1.03 |
|
|
Total |
20490979 |
7.51 |
6.46 |
DETAILS OF LOCKED-IN
SHARES
|
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as
% of |
|
Fairbridge Capital Mauritius Limited |
4,63,820 |
0.17 |
|
Fairbridge Capital Mauritius Limited |
1,78,06,180 |
6.53 |
|
Total |
1,82,70,000 |
6.70 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in diversified businesses primarily working as an Authorised Foreign Exchange Dealer. The Company is also engaged in Tour and Travel Business and working as Travel Agent and Tour Operator. |
|
|
|
|
Services : |
Tour and Travel Business and working as Travel Agent and Tour Operator |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
2686 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Note : Nature of Security and terms of repayment for secured borrowings Nature of Security Finance Lease Obligations are secured by hypothecation of assets underlying the leases. Terms of Repayment Monthly payment of Equated Monthly Instalments beginning from the month of taking the lease. |
||||||||||||||||||
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252 Veer Savarkar Marg, |
|
PAN
No. : |
AABFL5878L |
|
|
|
|
Holding Company : |
|
|
|
|
|
Subsidiary Companies : |
|
|
|
|
|
Associate
enterprise : |
MFxchange Holdings Inc, Canada |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
505,827,060 |
Equity Shares |
Re. 1/- each |
Rs. 505.827 Million |
|
114,760,000 |
‘Class A’ 4.65% Cumulative Non-Convertible Redeemable
Preference Shares |
Rs. 10/- each |
Rs. 1147.600 Million |
|
355,294 |
‘Class B’ 0.001% Cumulative Convertible / Redeemable
Preference Shares |
Rs. 10/- each |
Rs. 3.553 Million |
|
302,000 |
‘Class C’ 0.001% Cumulative Convertible / Redeemable
Preference Shares |
Rs. 10/- each |
Rs. 3.020 Million |
|
125,000,000 |
0.001% Preference Shares |
Rs. 10/- each |
Rs. 1250.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 2910.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
272,730,827 |
Equity Shares |
Re. 1/- each |
Rs. 272.731
Million |
|
4,423,000 |
Class D' 0.001% Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs.44.230
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 316.961 Million |
Reconciliation of the
number of shares
|
Particulars |
As at March 31, 2015 |
|
|
|
No. of shares |
Amount [Rs. In Million] |
|
Equity Shares |
|
|
|
Balance as at the beginning of the period / year |
247,680,897 |
247.681 |
|
Add: Addition on account of Stock Options Allotment |
1,639,930 |
1.640 |
|
Add: Addition on account of Institutional Placement Programme ("IPP") |
0.000 |
0.000 |
|
Add: Conversion of Class B & C Cumulative Convertible / Redeemable |
5,140,000 |
5.140 |
|
Preference Shares |
|
|
|
Add: Conversion of CCPS |
18,270,000 |
18.270 |
|
Balance as at the
end of the period / year |
272,730,827 |
272.731 |
Rights, preferences and restrictions attached to shares
Equity Shares:-The Company has one class of equity shares having a par value of Re. 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution to preference shareholders of all preferential amounts, in proportion to their shareholding.
CCPS:- 6,250,000 CCPS of Rs.10 each were allotted on March 13, 2014 to Fairbridge Capital (Mauritius) Limited at a price of Rs. 800 each which includes a premium of Rs. 790 per share in order to partly fund the investment made by Thomas Cook Insurance Services (India) Limited in Sterling Holiday Resorts (India) Limited. [Refer Note 42]. The CCPS would be entitled to a dividend of 0.001% per annum.
During the period, on March 9, 2015, out of total 6,250,000 CCPS, 1,827,000 of Rs. 10 each were converted into 18,270,000 equity shares of Re.1 each.
Shares held by Subsidiaries
of Ultimate Holding Company
|
Particulars |
As at March 31, 2015 |
|
|
|
No. of shares |
Amount [Rs. In Million] |
|
Equity Shares |
|
|
|
Fairbridge Capital (Mauritius) Limited |
122,753,478 |
122.753 |
|
H Investments Limited |
81,170,247 |
81.170 |
|
CCPS |
|
|
|
Fairbridge Capital (Mauritius) Limited |
4,423,000 |
44.230 |
Details of Shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Particulars |
As at March 31, 2015 |
|
|
|
No. of shares |
% of holding |
|
Equity Shares |
|
|
|
Fairbridge Capital (Mauritius) Limited |
122,753,478 |
45.01% |
|
H Investments Limited |
81,170,247 |
29.76% |
|
Preference Shares- 'Class B' LKP Merchant Financing Limited |
-- |
-- |
|
Preference Shares- 'Class C' LKP Merchant Financing Limited |
-- |
-- |
|
Preference Shares -'CCPS' Fairbridge Capital (Mauritius) Limited |
4,423,000 |
100.00% |
Shares reserved for
issue under Options
|
Particulars |
As at March 31, 2015 |
|
Number of shares to be issued under the Employees Stock Option Schemes |
5,565,036 |
Terms of securities
convertible into Equity Shares
Class B & C
Cumulative Convertible / Redeemable Preference Shares
Pursuant to the execution of the Consent terms dated February 5, 2014 with LKP Finance Limited and the Award dated February 20, 2014 issued by the Hon’ble Arbitral Tribunal, the Board of Directors, vide its resolution dated April 25, 2014, allotted 5,140,000 equity shares of Re. 1 each upon conversion of the 319,765 Class ‘B’ 0.001% Cumulative Convertible / Redeemable Preference Shares of Rs. 10 each and 271,800 Class ‘C’ 0.001% Cumulative Convertible / Redeemable Preference Shares of Rs. 10 each.
CCPS
The CCPS shall be compulsorily convertible into equity shares of the Company within a period of 18 months from the date of allotment of the CCPS. Each CCPS shall be convertible into 10 Equity Shares of the Company having face value of Re. 1 each at a premium of Rs. 79 each so that the 6,250,000 CCPS shall convert into 62,500,000 Equity Shares. The CCPS can be converted into Equity Shares of the Company at any time by the holder of the CCPS, in one or more tranches, prior to expiry of 18 months from the date of allotment of the CCPS. The CCPS shall be converted into equity shares in accordance with the provisions of applicable law, including minimum public shareholding requirements.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 [15 Months] |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
316.961 |
253.596 |
219.074 |
|
(b) Reserves & Surplus |
11131.788 |
5854.298 |
3765.993 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
2.373 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
11451.122 |
6107.894 |
3985.067 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1012.755 |
1012.423 |
22.231 |
|
(b) Deferred tax liabilities (Net) |
23.013 |
25.917 |
44.426 |
|
(c) Other long term
liabilities |
346.614 |
180.696 |
226.184 |
|
(d) long-term
provisions |
5.073 |
4.811 |
6.601 |
|
Total Non-current
Liabilities (3) |
1387.455 |
1223.847 |
299.442 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
503.009 |
128.060 |
1820.862 |
|
(b) Trade
payables |
2105.899 |
1899.562 |
1149.091 |
|
(c) Other
current liabilities |
2689.853 |
1316.820 |
1225.900 |
|
(d) Short-term
provisions |
228.091 |
203.861 |
118.744 |
|
Total Current
Liabilities (4) |
5526.852 |
3548.303 |
4314.597 |
|
|
|
|
|
|
TOTAL |
18365.429 |
10880.044 |
8599.106 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
539.187 |
547.929 |
584.721 |
|
(ii)
Intangible Assets |
92.618 |
83.111 |
104.137 |
|
(iii)
Capital work-in-progress |
3.281 |
5.087 |
2.159 |
|
(iv)
Intangible assets under development |
8.398 |
36.227 |
13.253 |
|
(b) Non-current Investments |
10332.477 |
4532.477 |
1939.982 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
546.704 |
446.157 |
530.870 |
|
(e) Other
Non-current assets |
14.763 |
182.789 |
165.598 |
|
Total Non-Current
Assets |
11537.428 |
5833.777 |
3340.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1250.638 |
1400.461 |
800.148 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
2161.030 |
1761.596 |
1835.000 |
|
(d) Cash
and cash equivalents |
1644.457 |
927.883 |
1677.160 |
|
(e)
Short-term loans and advances |
1276.187 |
730.795 |
709.481 |
|
(f) Other
current assets |
495.689 |
225.532 |
236.597 |
|
Total
Current Assets |
6828.001 |
5046.267 |
5258.386 |
|
|
|
|
|
|
TOTAL |
18365.429 |
10880.044 |
8599.106 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 [15 Months] |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5008.896 |
3695.705 |
3771.295 |
|
|
|
Other Income |
126.928 |
55.009 |
92.331 |
|
|
|
TOTAL |
5135.824 |
3750.714 |
3863.626 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
2156.640 |
1471.462 |
1481.594 |
|
|
|
Advertisement Expenses |
374.951 |
159.912 |
218.274 |
|
|
|
Other expenses |
1488.688 |
1042.330 |
1008.169 |
|
|
|
TOTAL |
4020.279 |
2673.704 |
2708.037 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
1115.545 |
1077.010 |
1155.589 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
481.506 |
262.200 |
300.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
634.039 |
814.810 |
855.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
147.829 |
111.870 |
117.182 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
486.210 |
702.940 |
737.919 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
154.096 |
241.691 |
245.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
332.114 |
461.249 |
492.063 |
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2036.711 |
1794.912 |
1445.319 |
||
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General
Reserve |
33.211 |
46.125 |
49.206 |
|
|
|
Transfer to Debenture Redemption Reserve |
81.597 |
48.958 |
0.000 |
|
|
|
Dividend for the
previous year paid during the year |
2.243 |
12.892 |
0.312 |
|
|
|
Corporate Dividend Tax
for the Previous year and paid during the year |
0.381 |
2.809 |
0.050 |
|
|
|
Proposed Dividend on
Equity Shares |
136.365 |
92.880 |
79.935 |
|
|
|
Proposed Dividend
distribution tax on proposed dividend on equity shares |
28.534 |
15.785 |
12.967 |
|
|
BALANCE CARRIED
TO THE B/S |
2086.492 |
2036.711 |
1794.912 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Receipts from Independent Tours and Travel |
424.552 |
238.577 |
382.321 |
|
|
|
Commission on Travellers Cheques |
33.473 |
36.237 |
33.666 |
|
|
|
Prepaid Card Anniversary Bonus |
38.220 |
36.690 |
36.690 |
|
|
|
Interest Income from Foreign Currency Deposit |
7.686 |
5.631 |
0.955 |
|
|
|
Other Interest Income |
0.119 |
0.000 |
0.000 |
|
|
|
Income on Joint tourism promotion |
1.761 |
0.000 |
0.000 |
|
|
|
Incentive on Prepaid Card sales |
218.537 |
92.448 |
8.312 |
|
|
|
Dividend Income |
0.050 |
0.030 |
0.026 |
|
|
TOTAL EARNINGS |
724.398 |
98.109 |
461.97 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
1.31 |
1.96 |
2.31 |
|
|
|
Diluted |
1.10 |
1.91 |
2.26 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 [15 Months] |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
1705.459 |
1956.313 |
1250.881 |
|
Net cash from Operating Activities |
1512.073 |
1765.213 |
1044.542 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 [15 Months] |
31.12.2013 |
31.12.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.63 |
12.48 |
13.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
22.27 |
29.14 |
30.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.06 |
11.15 |
11.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.12 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.13 |
0.19 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.42 |
1.22 |
STOCK
PRICES
|
Face Value |
Rs.1/- |
|
Market Value |
Rs.209.45/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.03.2015 [15 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
219.074 |
253.596 |
316.961 |
|
Reserves & Surplus |
3765.993 |
5854.298 |
11131.788 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
2.373 |
|
Net worth |
3985.067 |
6107.894 |
11451.122 |
|
|
|
|
|
|
long-term borrowings |
22.231 |
1012.423 |
1012.755 |
|
Short term borrowings |
1820.862 |
128.060 |
503.009 |
|
Total borrowings |
1843.093 |
1140.483 |
1515.764 |
|
Debt/Equity ratio |
0.462 |
0.187 |
0.132 |
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2012 |
31.12.2013 |
31.03.2015 [15 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
3771.295 |
3695.705 |
5008.896 |
|
|
|
(2.004) |
35.533 |
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image024.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2012 |
31.12.2013 |
31.03.2015 [15 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
3771.295 |
3695.705 |
5008.896 |
|
Profit |
492.063 |
461.249 |
332.114 |
|
|
13.05% |
12.48% |
6.63% |
%20LIMITED%20-%20337353_MIRA%2019-Aug-2015_files/image026.gif)
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 04/03/2014 |
|
Stamp No.:- CRAST/25217/2013 Filing
Date:- 06/09/2013 Reg. No.:- CRA/908/2013 Reg.
Date:- 26.12.2013 |
|
Petitioner: STATE
BANK OF BIKANER AND JAIPUR Respondent: THOMAS
COOK (INDIA) LIMITED
Petn. Adv : SHRADHA
WORLIKAR District: MUMBAI |
|
Bench: SINGLE Status: Pre-Admission
Next Date : 09.07.2014
Stage: C.R.A. FOR ADMISSION (FRESH)
[CIVIL SIDE MATTERS] Coram : HON’BLE
SHRI JUSTICE K.K. TATED Last Date: 13.06.2014
Stage: C.R.A. FOR ADMISSION (FRESH) [CIVIL SIDE MATTERS] Last Coram: HON’BLE SHRI JUSTICE K.K. TATED |
|
Act: Maharashtra Rent Control Act, 1999 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 [15 Months] |
31.12.2013 |
|
|
(Rs. In Million) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Debenture 1,000 (Previous Year 1,000) Redeemable Non-Convertible Debentures (Listed) |
1000.000 |
1000.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Bank Overdraft |
503.009 |
128.060 |
|
Total |
1503.009 |
1128.060 |
|
|
|
|
|
Note Debentures: The Company has
issued following redeemable non-convertible debentures 1,000 Debentures on April 15, 2013 aggregating to Rs.1,000,000,000 of face value Rs. 1,000,000 each; carrying a coupon rate of 10.52% p.a., payable annually. These debentures are redeemable equally at the end of the 3rd, 4th and 5th year from the date of allotment. |
||
CONTINGENT
LIABILITIES
|
PARTICULAR |
31.03.2015 [15 Months] |
31.12.2013 |
|
|
(Rs. In Million) |
|
|
(i) Claims against the Company not acknowledged as debts: |
|
|
|
Demand from Bombay Electricity Supply and Transport (BEST) for Electricity charges |
1.961 |
1.961 |
|
Disputed claims made by clients |
2.324 |
2.634 |
|
Disputed Labour law suits |
0.300 |
0.000 |
|
(ii) Disputed Income Tax demands |
140.703 |
24.203 |
|
(iii) Disputed Service Tax demands |
27.620 |
3140.439 |
|
(iv) Disputed Demand for increase in rent raised by Brihanmumbai Municipal Corporation |
58.918 |
53.750 |
|
Notes: Future cash outflows in respect of (i) to (iv) above are determinable only on receipt of judgments/decisions pending with various forums/ authorities. |
||
GENERAL INFORMATION
The company is a Public Limited Company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The Company is engaged in diversified businesses primarily working as an Authorised Foreign Exchange Dealer. The Company is also engaged in Tour and Travel Business and working as Travel Agent and Tour Operator.
FINANCIAL PERFORMANCE
# The Company extended its financial year to bring it in line with the requirements of the provisions of sub-section (41) of Section 2 of the Companies Act, 2013. The current financial period is for the period of fifteen months from 1st January, 2014 to 31st March, 2015 and therefore not comparable with the previous year.
The subsequent financial years of the Company will commence from 1st day of April every year and end on 31st March of the following year.
^Consolidated financial statements for the period ended 31st March, 2015 include the consolidated audited financial statements of Sterling Holiday Resorts (India) Limited for the period 3rd September, 2014 to 31st March, 2015.
In the previous year, the consolidated financial statements for the year ended 31st December, 2013 included the consolidated audited financial statements of Quess Corp Limited (previously IKYA Human Capital Solutions Limited) for the period 14th May, 2013 to 31st December, 2013. Consequently, consolidated financial statements for the period ended 31st March, 2015 are not comparable with previous year.
** Previous Year figures have been reclassified wherever necessary to conform to this period’s classification.
OPERATIONS AND
RESULTS
The Travel and Tourism industry maintained its position as one of the top industries of the country. While the sector faces challenges every year and this year was no different from the past, it maintained a modest growth rate. Overall business sentiment and economic outlook remained optimistic on account of a stable government. The year saw decent growth of the Company’s portfolio of retail products, strong leisure travel trends for both group and individual travel business and the outreach program with channel partners. The Company expanded its reach by ensuring it has products right from Super Budget, Budget to Premium and Royale category, thus reaching to a larger market segment with wide choices. The Company further strengthened its Inward Remittance business both from a penetration perspective as well as from a business growth perspective.
The Company continued its focus on acquisition of new clients and strived to provide un-paralleled customer service along with a suite of products. The Company continued to be the preferred choice for customers on-the-go and expanded its abilities to serve consumers through various new channels. To keep up with the pace and the changing needs of the customers and to ensure seamless delivery, the Company enhanced its technological backbone with the objective of customer service and delivery.
The Company increased its marketing efforts, specifically on the digital marketing mediums, to reach out to its target customer base effectively with the strategy of being a complete travel solution provider. Given India’s young demography and emergence as the youngest workforce of the world – more and more customers have started buying everything from mobile phones to services online.
The Company recorded total revenue of Rs. 5,135.82 million and profit before tax of Rs.486.210 million with profit after tax being Rs.332.110 million for the period ended 31st March 2015. The basic earnings per share of the Company is Rs. 1.31 per Equity Share of Rs. 1/- each.
THOMAS COOK PRESENCE
As of 31st March, 2015, the Company, along with its subsidiaries, continues to be amongst the largest integrated travel groups in India. The Company operates through 233 locations in 94 cities, 112 PSAs and 115 Gold Circle Partner outlets to have a wider spread and network across the country.
The Company also has presence in 13 countries outside India through its branches/ representative offices in USA (New York), Spain (Barcelona & Madrid), UK (London), Japan (Tokyo & Osaka), Germany (Frankfurt), Nepal (Kathmandu), China (Beijing), South Korea (Seoul), Russia (Moscow ), Argentina, Dubai, Canada and France apart from its subsidiaries in Mauritius and Sri Lanka.
THE MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
TRAVEL AND TOURISM
INDUSTRY OVERVIEW
Tourism has become a popular global leisure activity. Tourism can be domestic or international, and international tourism has both incoming and outgoing implications on a country’s balance of payments. Today, tourism as a major source of income for many countries, affects the economy of both the source and host countries.
Travel and Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values.
The direct contribution of Travel and Tourism to GDP was USD 2,364.8 billion (3.1% of total GDP) in 2014, and is forecast to rise by 3.7% in 2015, and to rise by 3.9% p.a., from 2015-2025, to USD 3,593.2 billion (3.3% of total GDP) in 2025.
The service industries which benefit from tourism include transportation services, such as airlines, cruise ships, and taxicabs; hospitality services, such as accommodations, including hotels and resorts; and entertainment venues, such as amusement parks, casinos, shopping malls, music venues, and theatres. This is in addition to goods bought by tourists, including souvenirs, clothing and other supplies.
Sustainable tourism, the buzzword today, is envisaged as leading to management of all resources in such a way that economic, social and aesthetic needs can be fulfilled while maintaining cultural integrity, essential ecological processes, biological diversity and life support systems. Expressed simply, sustainable tourism can be defined as: “Tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities”.
The World Travel and Tourism Council’s (WTTC) latest annual research, in conjunction with Oxford Economics, shows Travel and Tourism’s contribution to world GDP grew for the fifth consecutive year in 2014, rising to a total of 9.8% of world GDP (US$7.6 trillion). The sector now supports nearly 277 million people in employment – that’s 1 in 11 jobs on the planet.
The travel industry will grow faster than the global economy this year, according to the latest WTTC forecast. The WTTC’s annual economic impact assessment predicts travel and tourism will grow by 3.7% worldwide in 2015, against a global economic growth forecast of 2.9%.
The Council forecasts the sector’s total contribution to the world economy will reach $7,860 billion or 10% of global GDP, up by $280 billion on 2014, and travel will account for 9.5% of all jobs in the world “once all direct, indirect and induced impacts” are included.
While the sector faces challenges every year and this year is likely to be no different, Travel and Tourism expansion in 2015 is forecast to continue at a stronger rate than last year and the forecasts over the next ten years also look extremely favourable with predicted growth rates of 3.8% annually.
INDIAN TRAVEL,
TOURISM AND FOREIGN EXCHANGE INDUSTRY
The Indian travel and tourism industry is likely to see a spurt in growth on the back of new visa reforms, according to a report by the WTTC. India’s rapidly growing travel industry is on the verge of witnessing an employment boom with the WTTC estimating a whopping 10 million jobs by 2015.
India’s travel and tourism economy is poised to grow 7.5% in 2015 over last year, exceeding the 6.9% growth that the global forum has predicted for the South Asian region.
In 2014, the industry contributed Rs. 7.64 trillion and 36.7 million jobs to the Indian economy. By the end of 2015, the travel and tourism sector will contribute Rs.8.22 trillion or 7% of India’s gross domestic product (GDP) and 37.4 million jobs—almost 9% of total employment, the report said.
The number of Foreign Tourist Arrivals (FTAs) has grown steadily in the last three years reaching around 7.460 million during January–December 2014. FEEs from tourism in rupee terms during January-December 2014 were Rs.120,083 (US$ 1,902.53) with a growth of 11.6% over the corresponding period of 2013.
The scheme enabled by Electronic Travel Authorisation (ETA) launched by the Government of India on November 27, 2014 for 43 countries has led to a growth of 1,214.9 percent recently. For example, during the month of January 2015, a total of 25,023 tourists arrived by availing Visa on Arrival (VoA) as compared to 1,903 VoA during the month of January 2014.
AWARDS AND ACCOLADES
Thomas Cook (India) Limited has been the recipient of the following highly prestigious awards and accolades during the period 1st January, 2014 to
31st March, 2015:
_ Voted as Favourite Outbound Tour Operator at the Outlook Traveller Awards 2015
_ IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers 2015
_ Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2014 and 2013 and Best Company providing Foreign Exchange at the CNBC AWAAZ Travel Awards 2014
_ ‘India’s Leading Tour Operator’ for the year 2014, at the 21st Annual World Travel Awards Asia and Australasia 2014
_ Favourite Tour Operator at the Condé Nast Traveller Readers’ Travel Awards 2014
_ Consumer Superbrand 2013-14
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED AS ON 30.06.2015
(Rs. in million)
|
|
|
Particulars |
|
Quarter Ended |
|
|
|
|
|
|
|
30.06.2015 [Unaudited] |
|
1 |
Income from Operations |
|
|
|
|
|
|
a) Net Sales/Income from Operations (net of excise duty) Financial
and Travel & Related Services |
|
|
1361.110 |
|
|
|
b) Other Operating Income |
|
|
28.480 |
|
|
|
Total Income from Operations (Net) |
|
|
1389.590 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Employee Cost |
|
|
467.690 |
|
|
b) |
Advertisement Cost |
|
|
100.040 |
|
|
c) |
Depreciation and amortization expense |
|
|
48.760 |
|
|
d) |
Other
expenses |
|
|
295.480 |
|
|
Total Expenses |
|
|
911.970 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
|
|
477.620 |
|
4 |
Other
Income |
|
|
8.290 |
|
|
5 |
|
Profit
/(Loss) from ordinary activities before finance costs and exceptional items
(3+4) |
|
|
485.910 |
|
6 |
Finance
Costs |
|
|
102.030 |
|
|
7 |
|
Profit /(Loss)
from ordinary activities after finance costs but before exceptional items
(5-6) |
|
|
383.880 |
|
8 |
Exceptional
Items |
|
|
-- |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
|
|
383.880 |
|
|
10 |
Tax
Expense |
|
|
135.060 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
|
|
248.820 |
|
|
12 |
Extraordinary
items (net of tax expense) |
|
|
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
|
|
248.820 |
|
|
14 |
Paid up equity
share capital (Eq. shares of Rs.10/-
each) |
|
|
272.820 |
|
|
15 |
Reserve
excluding revaluation reserves |
|
|
|
|
|
16 |
|
Earnings
per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic |
|
|
0.91 |
|
|
|
Diluted |
|
|
0.77 |
|
|
|||||
|
A |
|
PARTICULARS
OF SHAREHOLDING |
|
|
|
|
1 |
|
Public Shareholding |
|
|
|
|
|
|
- No. of
Shares |
|
|
68899605 |
|
|
|
-
Percentage of Shareholding |
|
|
25.25 |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
|
- Number
of shares |
|
|
-- |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
|
|
-- |
|
|
|
- Percentage
of shares (as a % of the total share capital of the Company) |
|
|
-- |
|
|
|
b) Non-
encumbered |
|
|
|
|
|
|
- Number
of shares |
|
|
203923725 |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
|
|
100.00 |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
|
|
74.75 |
|
|
Particulars |
Quarter
ended 30.06.2015 |
|
|
B |
|
Investor
Complaints |
|
|
|
|
Pending at
the beginning of the quarter |
0 |
|
|
|
Received
during the quarter |
0 |
|
|
|
Disposed
during the quarter |
0 |
|
|
|
Remaining
unresolved at the end of the quarter |
0 |
SEGMENTWISE
REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED
AS
ON 30.06.2015
(Rs. in million)
|
Particulars |
|
Quarter Ended |
|
|
|
|
|
30.06.2015 [Unaudited] |
|
Segment Revenue (Sales and Other Operating
Income) |
|
|
|
|
Financial services
|
|
|
487.040 |
|
Travel and related
services |
|
|
902.550 |
|
Human resource
services |
|
|
0.000 |
|
Vacation ownership |
|
|
0.000 |
|
Net Sales / Income and interdivisional transfers |
|
|
1389.590 |
|
Less: Inter-segment transfers |
|
|
-- |
|
Net Sales / Income from operation |
|
|
1389.590 |
|
|
|
|
|
|
Segment Results: |
|
|
|
|
[Profit/ (Loss)
before tax and interest from each segment] |
|
|
|
|
Financial
services |
|
|
245.850 |
|
Travel and related
services |
|
|
416.590 |
|
Human resource
services |
|
|
0.000 |
|
Vacation ownership |
|
|
0.000 |
|
TOTAL |
|
|
662.440 |
|
Less: Financial Cost |
|
|
102.030 |
|
Other unallocable
expenditure, net of unallocable income |
|
|
176.530 |
|
Total Profit/
Loss –before tax |
|
|
383.880 |
|
|
|
|
|
|
Capital Employed: |
|
|
|
|
Financial
services |
|
|
1082.020 |
|
Travel and related
services |
|
|
(1058.160) |
|
Human resource
services |
|
|
0.000 |
|
Vacation ownership |
|
|
0.000 |
|
Total |
|
|
23.860 |
|
Add: Common capital employed |
|
|
11648.970 |
|
|
|
|
|
|
TOTAL |
|
|
11672.830 |
INDEX OF CHARGES
No Charges Exist for Company
FIXED
ASSETS:
Tangible Assets
·
Office Building
·
Leasehold Improvements
·
Furniture and Fixtures
·
Computers
·
Office Equipment
·
Vehicles
·
Computers
·
Vehicles
Intangible Assets
·
Goodwill
·
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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.