MIRA INFORM REPORT
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Report No. : |
305625 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
A LITTLE WORLD PRIVATE LIMITED |
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Registered
Office : |
T-951, 5Th Floor, Belapur Railway Station, Commercial
Complex, Tower-4, Sector-11, CBD, Belapur – 400614, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.03.2000 |
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Com. Reg. No.: |
11-147117 |
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Capital
Investment / Paid-up Capital : |
Rs. 796.396 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2000PTC147117 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCA5044R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Banking Correspondent activity using the technology and processes developed by the Company. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Fund Based Limits = BB- |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
December 21, 2014 |
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 DENIED BY
|
Name : |
Madam Kusum Lata |
|
Designation : |
Account Head |
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Contact No.: |
91-22-39513888 |
|
Date : |
30.01.2015 |
LOCATIONS
|
Registered Office : |
T-951, 5Th Floor, Belapur Railway Station, Commercial
Complex, Tower-4, Sector-11, CBD, Belapur – 400614, Maharashtra, India |
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Tel. No.: |
91-22-39513888 |
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Fax No.: |
91-22-39513801 |
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E-Mail : |
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Website : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Anurag Gupta |
|
Designation : |
Whole Time Director |
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Address : |
B-35, Geetanjali Enclave, New Delhi -110017, India |
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Date of Birth/Age : |
23.05.1961 |
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Date of Appointment : |
24.03.2000 |
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DIN No.: |
00473793 |
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Name : |
Mr. Lokanath Panda |
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Designation : |
Whole-time director |
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Address : |
Flat 103, Srinivasa Residency, 7th Cross,, N R Colony, Off Airport Rd., Near Kemp Fort, Bangalore, 560017, Karnataka, India |
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Date of Birth/Age : |
01.01.1977 |
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Date of Appointment : |
01.06.2006 |
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DIN No.: |
00784736 |
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Name : |
Mr. Ashok Kumar Peer |
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Designation : |
Nominee Director |
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Address : |
B2/5c, Harbour Height,, N A Sawant Marg, Fire Station, Colaba,, Mumbai, 400005, Maharashtra, India |
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Date of Birth/Age : |
19.03.1958 |
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Date of Appointment : |
15.09.2014 |
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DIN No.: |
06982287 |
KEY EXECUTIVES
|
Name : |
Abhay Vithal Palkar |
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Designation : |
CFO |
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Address : |
B1/1004, Green Acres Phase - 3, Waghbil Road, Opp., Vijay Nagari Annex Waghbill, Thane, 400615, Maharashtra, India |
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Date of Appointment : |
01.07.2014 |
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PAN No. : |
AAAPP6032B |
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Name : |
Khushbu Dinesh Vora |
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Designation : |
Company Secretary |
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Address : |
A-2, Shashank Apt., Devi Chowk, Shastri Nagar, Near Bank Of Baroda, Dombivli (W), Thane, 421202, Maharashtra, India |
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Date of Appointment : |
03.12.2012 |
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PAN No. : |
ALFPV4333F |
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Name : |
Madam Kusum Lata |
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Designation : |
Account Head |
MAJOR SHAREHOLDERS
As on 25.09.2014
Shareholders file attached
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
21.95 |
|
Bodies corporate |
32.15 |
|
Directors or relatives of Directors |
35.73 |
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Other top fifty shareholders |
10.17 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Banking Correspondent activity using
the technology and processes developed by the Company. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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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Auditors : |
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Name : |
M. M. Nissim And Company Chartered Accountants |
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Address : |
Barodawala Mansion, B-Wing, 3rd Floor 81, Dr. Annie Besant Road, Worli, Mumbai 400018, Maharashtra India |
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PAN No.: |
AAAFM5103E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Zero Microfinance And Savings Support Foundation, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/-each |
Rs.1000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79639607 |
Equity Shares |
Rs.10/-each |
Rs.796.396
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
796.396 |
796.396 |
796.396 |
|
(b) Reserves &
Surplus |
(259.437) |
(365.427) |
(372.482) |
|
(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) |
536.959 |
430.969 |
423.914 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
8.234 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
38.610 |
29.503 |
16.835 |
|
(d) long-term provisions |
2.045 |
2.302 |
2.395 |
|
Total Non-current
Liabilities (3) |
48.889 |
31.805 |
19.230 |
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(4) Current Liabilities |
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|
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|
(a) Short term borrowings |
23.123 |
31.175 |
31.514 |
|
(b) Trade payables |
48.514 |
62.378 |
72.907 |
|
(c) Other current
liabilities |
47.197 |
55.155 |
48.553 |
|
(d) Short-term provisions |
0.324 |
0.456 |
0.417 |
|
Total Current Liabilities
(4) |
119.158 |
149.164 |
153.391 |
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|
|
|
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TOTAL |
705.006 |
611.938 |
596.535 |
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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 |
26.739 |
43.620 |
56.189 |
|
(ii) Intangible Assets |
1.711 |
2.852 |
5.113 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.172 |
|
(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 |
95.970 |
86.339 |
82.589 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
124.420 |
132.811 |
144.063 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2.366 |
1.016 |
3.254 |
|
(c) Trade receivables |
142.882 |
119.427 |
97.833 |
|
(d) Cash and cash
equivalents |
64.629 |
46.042 |
32.098 |
|
(e) Short-term loans and
advances |
362.728 |
295.660 |
317.985 |
|
(f) Other current assets |
7.981 |
16.982 |
1.302 |
|
Total Current Assets |
580.586 |
479.127 |
452.472 |
|
|
|
|
|
|
TOTAL |
705.006 |
611.938 |
596.535 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
245.950 |
171.602 |
137.152 |
|
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Other Income |
3.726 |
11.923 |
41.927 |
|
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TOTAL |
249.676 |
183.525 |
179.079 |
|
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.825 |
6.774 |
10.816 |
|
|
Purchases of
Stock-in-Trade |
26.402 |
0.000 |
3.823 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.762) |
(0.567) |
3.163 |
|
|
Employees benefits
expense |
24.849 |
25.176 |
28.254 |
|
|
Other expenses |
59.322 |
43.494 |
57.924 |
|
|
TOTAL |
109.636 |
74.877 |
103.980 |
|
|
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|
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
140.040 |
108.648 |
75.099 |
|
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|
Less |
FINANCIAL EXPENSES |
1.277 |
2.096 |
4.112 |
|
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
138.763 |
106.552 |
70.987 |
|
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|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
34.102 |
31.523 |
31.386 |
|
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|
|
Less/ Add |
PRIOR PERIOD ITEMS |
1.328 |
(67.975) |
0.000 |
|
|
|
|
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|
PROFIT/ (LOSS) BEFORE TAX |
105.989 |
7.054 |
39.601 |
|
|
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|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
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|
PROFIT/ (LOSS) AFTER TAX
|
105.989 |
7.054 |
39.601 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.33 |
0.09 |
0.50 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
43.09
|
4.11 |
28.87 |
|
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|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
56.93
|
63.31 |
54.75 |
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.03 |
1.15 |
6.64 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.02 |
0.09 |
|
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|
Debt Equity Ratio (Total Debts/Networth) |
|
0.06 |
0.07 |
0.07 |
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.87 |
3.21 |
2.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
796.396 |
796.396 |
796.396 |
|
Reserves & Surplus |
(372.482) |
(365.427) |
(259.437) |
|
Net worth |
423.914 |
430.969 |
536.959 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
8.234 |
|
Short term borrowings |
31.514 |
31.175 |
23.123 |
|
Total borrowings |
31.514 |
31.175 |
31.357 |
|
Debt/Equity ratio |
0.074 |
0.072 |
0.058 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
137.152 |
171.602 |
245.950 |
|
|
|
25.118 |
43.326 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
137.152 |
171.602 |
245.950 |
|
Profit |
39.601 |
7.054 |
105.989 |
|
|
28.87% |
4.11% |
43.09% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
(Rs.
In Millions)
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
6.765 |
0.000 |
0.000 |
|
Total |
6.765 |
0.000 |
0.000 |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONAL
PERFORMANCE
During the Financial Year 2013-14, the Company's grew its business in Rural Financial Inclusion as well as Urban remittances, after the consolidation exercise carried out in Financial Year 2012-13. During this period the Company's customer enrolment base has expanded to over 10.8 Million (8.3 Million in 2012-13, 29% growth) and it has effected transactions of nearly Rs. 50000.000 Millions (over Rs. 30000.000 Millions in 2011-12, 66% growth) through its network. With increased productivity per outlet, while continuing to extend its outreach, the Company looks forward to further enhance its rate of growth in coming years. This expansion shall also lead to substantial economies of scale and take the Company into financial profitability within the next few years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10491182 |
28/03/2014 |
25,000,000.00 |
JAIN SONS FINLEASE LIMITED |
8-2-682/1, 4th
Floor, Road No. 12, Banjara Hills, |
C04024162 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
23.123 |
23.123 |
|
Total |
23.123 |
23.123 |
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.61.75 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.