MIRA INFORM REPORT
|
Report No. : |
305559 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
QUIKR INDIA PRIVATE LIMITED [w.e.f. 27.05.2008] |
|
|
|
|
Formerly Known
As : |
KIJIJI INDIA PRIVATE LIMITED |
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Registered
Office : |
Office No. 6, 1st Floor, Raghuvanshi Mansion, Raghuvanshi
Mill Comp., Senapati Bapat Marg, Lower
Parel (West), Mumbai-400013, Maharashtra |
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|
Country : |
India |
|
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
09.11.2005 |
|
|
|
|
Com. Reg. No.: |
11-157228 |
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|
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|
Capital
Investment / Paid-up Capital : |
Rs.42.001
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74130MH2005PTC157228 |
|
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|
|
IEC No.: |
Not Available |
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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 and Owns ‘Quikr.com’
Website. |
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|
No. of Employees
: |
Information denied 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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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Not Available |
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Comments : |
Subject is an established company having a satisfactory track record. As per registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March, 2014 but the documents
related to the financials for the year 2014 are not available from any
sources. As per available financial of 2013, the company has incurred a losses
from its operation. However, there are no external borrowings recorded by the
company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing 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.
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 : |
Mr. Srenik Saboo |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-67290000 |
|
Date : |
27.01.2015 |
LOCATIONS
|
Registered Office : |
Office No. 6, 1st Floor, Raghuvanshi Mansion, Raghuvanshi
Mill Comp., Senapati Bapat Marg, Lower
Parel (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-67290000 |
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Fax No.: |
91-22-67290001 |
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E-Mail : |
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Branch Office : |
Located At:
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Atul Tewari |
|
Designation : |
Director |
|
Address : |
E 103, Shubham Apartment, NPCC Society, Plot No. 13, Sector 22,
Dwarka, New Delhi-110075, India |
|
Date of Birth/Age : |
04.08.1972 |
|
Date of Appointment : |
10.12.2012 |
|
Din No.: |
00551774 |
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|
|
|
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 |
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Din No.: |
02440593 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Allottees |
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of E-commerce and Owns ‘Quikr.com’
Website. |
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|
Products : |
Not Available |
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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 : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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Bankers : |
Not Available |
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Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai-400028,
Maharashtra, India |
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PAN No: |
AABFL5878L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Quikr Mauritius Holding Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital : Rs.85.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.72.748
Millions
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs.65.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6054259 |
Equity Shares |
Rs.10/- each
|
Rs.60.542
Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4200126 |
Equity Shares |
Rs.10/- each
|
Rs.42.001
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.001 |
19.648 |
16.887 |
|
(b) Reserves & Surplus |
776.939 |
186.594 |
245.015 |
|
(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) |
818.940 |
206.242 |
261.902 |
|
|
|
|
|
|
(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 |
2.542 |
1.140 |
0.627 |
|
Total
Non-current Liabilities (3) |
2.542 |
1.140 |
0.627 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
145.800 |
50.363 |
27.630 |
|
(c)
Other current liabilities |
118.968 |
22.830 |
7.786 |
|
(d)
Short-term provisions |
0.487 |
0.266 |
0.235 |
|
Total
Current Liabilities (4) |
265.255 |
73.459 |
35.651 |
|
|
|
|
|
|
TOTAL |
1086.737 |
280.841 |
298.180 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
27.697 |
9.362 |
9.870 |
|
(ii)
Intangible Assets |
2.609 |
0.223 |
0.308 |
|
(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 |
50.234 |
23.780 |
9.181 |
|
(e)
Other Non-current assets |
740.998 |
195.598 |
239.547 |
|
Total
Non-Current Assets |
821.538 |
228.963 |
258.906 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
51.663 |
7.000 |
5.341 |
|
(d)
Cash and cash equivalents |
11.505 |
1.487 |
10.601 |
|
(e)
Short-term loans and advances |
196.351 |
40.885 |
19.845 |
|
(f)
Other current assets |
5.680 |
2.506 |
3.487 |
|
Total
Current Assets |
265.199 |
51.878 |
39.274 |
|
|
|
|
|
|
TOTAL |
1086.737 |
280.841 |
298.180 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
|
86.275 |
61.810 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(784.352) |
(219.107) |
(101.859) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.018 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(784.352) |
(219.125) |
(101.859) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.00 |
(111.52) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(78.02) |
(34.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(1.06) |
(0.39) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
0.71 |
1.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
16.887 |
19.648 |
42.001 |
|
Reserves & Surplus |
245.015 |
186.594 |
776.939 |
|
Net worth |
261.902 |
206.242 |
818.940 |
|
|
|
|
|
|
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 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE:
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 Company incorporated in India, is a
subsidiary of Quikr Mauritius Holding Private Limited. It is in the business of
E-commerce and owns ‘Quikr.com’ website.
Subject is a city based free classified
website that helps people buy, sell, rent, fine in categories like furniture,
mobile phones, cars and bikes, services, pets, real estate, jobs, education,
entertainment and matrimonial. On can post free ads and reply to ads on Quikr
in the city one lives in. Quikr’s classifieds 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, simpler and easier way. Subject launched premium
ads on its website where a user can opt to pay and list his/her ad as a premium
ad enabling more and faster responses to those ads.
FIXED ASSETS:
- Computer
- Leasehold
Improvements
- Furniture and
Fixtures
- Office
Equipments
- Computer
Software
- Mobile
Application and Others
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
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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 |
|
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.