MIRA INFORM REPORT
|
Report No. : |
355677 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CASABLANCA BEACH RESORTS LLP |
|
|
|
|
Registered
Office : |
Matvia 238/C, 1st Floor, Central Avenue Road, Chembur,
Mumbai – 400071, Maharashtra |
|
Tel. No.: |
91-22-20368332 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
establishment : |
13.07.2010 |
|
|
|
|
Total Obligation
of Contribution: |
Rs. 18.861 Million |
|
|
|
|
LLPIN : |
AAA-1791 |
|
|
|
|
IEC No.: |
Not Applicable (As claimed by company management that company does not export and import) |
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|
|
|
TIN No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHFC1817C |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Subject is engaged into providing hospitality services. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
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|
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Comments : |
Subject was established in the year 2010 as limited liability partnership
firm and it is having satisfactory track record. The rating reflects decent experience of the partners in hospitality
services business along with satisfactory financial and operational profile. The rating is constrained on firm’s seasonality nature of business
which may affects the revenue cycle and competitive nature of business. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of aforesaid, the subject can be considered for business
dealings with usual trade terms and conditions. Note: As claimed by Mrs. Amita Rivonkar (Chief Accountant) that
subject was established in the year 1997 as a proprietorship concern and
later in July 2010 it got concerted into LLP with the current name. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mrs. Amita Rivonkar |
|
Designation : |
Chief Accountant |
|
Contact No.: |
91-7774030788 |
|
Date : |
22.12.2015 |
LOCATIONS
|
Registered Office : |
Matvia 238/C, 1st Floor, Central Avenue Road, Chembur,
Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-91-22-20368332 |
|
Mobile No.: |
91-7774030788 (Mrs. Amita Rivonkar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality: |
Residential |
|
|
|
|
Branch Office : |
Wadi, Candolim Bardez, Goa North - 403515, India |
|
Tel. No.: |
91-832-2479224/2479480 |
|
Location : |
Owned |
|
Locality: |
Commercial |
PARTNERS
AS ON 31.03.2015
|
Name : |
Mr. Antonio Placido Mathew Fernandes |
|
Designation : |
Designated Partner |
|
Address : |
Matvia 238/C, 1st Floor, Central Avenue Road, Chembur,
Mumbai - 400071, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1958 |
|
Date of Appointment : |
13.07.2010 |
|
DPIN No.: |
05008240 |
|
|
|
|
Name : |
Mrs. Cheryl Maria Fernandes |
|
Designation : |
Designated Partner |
|
Address : |
Matvia 238/C, 1st Floor, Central Avenue Road, Chembur, Mumbai
- 400071, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1960 |
|
Date of Appointment : |
13.07.2010 |
|
DPIN No.: |
05008242 |
KEY EXECUTIVES
|
Name : |
Mrs. Amita Rivonkar |
|
Designation : |
Chief Accountant |
CONTRIBUTION DETAILS
|
Names of Partners |
|
Rs. In Million |
|
Antonio Placido Mathew Fernandes |
|
0.025 |
|
Cheryl Maria Fernandes |
|
0.025 |
|
Jonathan Mathew Fernandes |
|
0.025 |
|
Rebecca Flavia Fernandes |
|
0.025 |
|
Total |
|
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into providing hospitality services. (Confirmed by management) |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Cheque and online Portals |
|
|
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
Citizen Credit Co-Operative Bank Limited, Shop No. 9, Eric House, Central Avenue, Chembur (East), Mumbai – 400071, Maharashtra, India
|
|
Auditors : |
|
|
Name : |
Sunil Savbis and Associates Chartered Accountant |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
|
Total Obligation
of Contribution |
Rs. 18.861 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
CONTRIBUTION AND LIABILITIES |
|
|
|
|
|
1] Contribution received (Including share of profit (loss) for the
year |
18.861 |
22.379 |
17.069 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.861 |
22.379 |
17.068 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.041 |
1.023 |
1.453 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.041 |
1.023 |
1.453 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.902 |
23.402 |
18.522 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.284 |
7.736 |
7.772 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
1.120 |
2.003 |
2.307 |
|
|
Cash & Bank Balances |
3.506 |
4.695 |
7.160 |
|
|
Other Current Assets |
0.055 |
0.144 |
0.125 |
|
|
Loans & Advances |
12.601 |
11.874 |
3.168 |
|
Total
Current Assets |
17.282
|
18.716
|
12.760
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
3.664 |
3.050 |
2.010 |
|
|
Net Current Assets |
13.618 |
15.666 |
10.751 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.902 |
23.402 |
18.522 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
21.519 |
24.157 |
20.146 |
|
|
Other Income |
0.002 |
0.125 |
0.041 |
|
|
TOTAL
(A) |
21.521 |
24.282 |
20.187 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Operating Expense |
|
|
|
|
|
Purchase |
3.880 |
3.810 |
2.916 |
|
|
Maintenance Expenses |
1.121 |
1.287 |
1.632 |
|
|
Other operating expense |
2.533 |
1.996 |
1.325 |
|
|
|
|
|
|
|
|
Power and fuel |
0.544 |
0.548 |
0.616 |
|
|
Personnel expenses |
5.756 |
1.844 |
1.195 |
|
|
Administrative expenses |
3.251 |
5.676 |
4.414 |
|
|
Payment to auditors |
0.074 |
0.030 |
0.030 |
|
|
Selling expenses |
0.128 |
0.111 |
0.131 |
|
|
Insurance expenses |
0.287 |
0.252 |
0.252 |
|
|
TOTAL
|
17.574 |
15.554 |
12.511 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3.947 |
8.728 |
7.676 |
|
|
|
|
|
|
|
Less |
Interest
|
0.105 |
0.171 |
0.422 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.842 |
8.557 |
7.254 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.223 |
1.259 |
1.383 |
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
2.619 |
7.298 |
5.871 |
Expected Sales (2015-2016) : Rs.30.000 Million
The above information has been parted by Mrs. Amita Rivonkar (Chief
Accountant)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
12.17 |
30.21 |
29.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
18.34 |
36.13 |
38.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.11 |
27.59 |
28.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.33 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.05 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.72 |
6.14 |
6.35 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Contribution received (Including share of profit (loss) for the year |
17.069 |
22.379 |
18.861 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
Net
worth |
17.069 |
22.379 |
18.861 |
|
|
|
|
|
|
Secured Loans |
1.453 |
1.023 |
1.041 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1.453 |
1.023 |
1.041 |
|
Debt/Equity
ratio |
0.085 |
0.046 |
0.055 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
20.146 |
24.157 |
21.519 |
|
|
|
19.910 |
(10.920) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
20.146 |
24.157 |
21.519 |
|
Profit |
5.871 |
7.298 |
2.619 |
|
|
29.14% |
30.21% |
12.17% |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.6.30 |
|
UK Pound |
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.