MIRA INFORM REPORT

Report No. :	333313
Report Date :	24.07.2015

IDENTIFICATION DETAILS

Name :	RED BULL INDIA PRIVATE LIMITED
Registered Office :	1st Floor, B Wing, 215 Atrium, Chakala, Andheri - Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra
Tel. No.:	91-22-66180888
Country :	India
Financials (as on) :	31.12.2014
Date of Incorporation :	03.04.2007
Com. Reg. No.:	11-169580
Capital Investment / Paid-up Capital :	Rs. 27.300 Million
CIN No.: [Company Identification No.]	U51909MH2007FTC169580
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMR21838F
PAN No.: [Permanent Account No.]	AADCR5842H
Legal Form :	Private Limited Liability Company
Line of Business :	Marketing and Distributor of all sorts of Energy Drinks.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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
Comments :	Subject is a subsidiary of “Red Bull GmbH, Austria”. It is an established company incorporated during the year 2007 having a satisfactory track record. The company has been successful in wiping off its accumulated losses of the previous years. General financial position of the company is sound. Balance sheet of the company is totally debt free. The company also receives strong operational and managerial support from its holding company. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. In view of strong holding support, the company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

(CONTACT NO.: 91-22-66180888)

LOCATIONS

Registered Office :	1st Floor, B Wing, 215 Atrium, Chakala, Andheri - Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-66180888
Fax No.:	91-22-66180808
E-Mail :	harish.kanotra@in.redbull.com
Website :	http://www.redbull.in

DIRECTORS

AS ON 15.04.2015

Name :	Rudolf Theierl
Designation :	Director
Address :	GansblchlstraBe 1, Hallein, 5400, Austria
Date of Birth/Age :	16.11.1949
Date of Appointment :	03.04.2007
DIN No.:	02022967
Name :	Mr. Bhaskar Sharma
Designation :	Director
Address :	20/B-55, Shree Sahjanand Krupa CHS Limited, Manish Nagar, J.P. Road, Manish Nagar, J P Road, Andheri (West), Mumbai – 400058, Maharashtra, India
Date of Birth/Age :	31.08.1963
Date of Appointment :	04.01.2010
DIN No.:	02871367
Name :	Mr. Harish Kanotra
Designation :	Director
Address :	B-404, RNA Heights, JVLR, Andheri (West), Mumbai – 400093, Maharashtra, India
Date of Birth/Age :	13.04.1974
Date of Appointment :	08.10.2010
DIN No.:	05154960

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.04.2015

Names of Shareholders	No. of Shares
Red Bull GmbH, Austria	2729999
Red Bull Hangar-7 GmbH, Austria	1
Total	2730000

AS ON 15.04.2015

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Marketing and Distributor of all sorts of Energy Drinks.
Brand Names :	“Red Bull Energy Drink”
Agencies Held :	--
Exports :
Products :	Not Divulged
Countries :	Not Divulged
Imports :
Products :	Not Divulged
Countries :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· The Hongkong and Shanghai Banking Corporation Limited

52/60, M.G. Road, Mumbai - 400001, Maharashtra, India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	S. R. Batliboi and Associates LLP Chartered Accountants
Address :	14th, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AABFS3421N
Memberships :	--
Collaborators :	--
Holding company :	Red Bull Gmbh, Austria
Fellow Subsidiary company :	· Red Bull Asia FTE, Dubai · Salzburg Sports GmbH · Red Bull Company Limited

CAPITAL STRUCTURE

AS ON 31.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4,500,000	Equity Shares	Rs. 10/- each	Rs. 45.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,730,000	Equity Shares	Rs. 10/- each	Rs. 27.300 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2014	31.12.2013	31.12.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	27.300	27.300	27.300
(b) Reserves & Surplus	41.020	(32.792)	(84.779)
(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)	68.320	(5.492)	(57.479)
(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	8.139	6.058	4.511
Total Non-current Liabilities (3)	8.139	6.058	4.511
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	890.925	942.700	1315.464
(c) Other current liabilities	197.701	214.752	140.063
(d) Short-term provisions	4.168	3.119	42.645
Total Current Liabilities (4)	1092.794	1160.571	1498.172
TOTAL	1169.253	1161.137	1445.204
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	209.461	138.616	63.515
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	25.465	34.162	16.886
(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	270.848	279.420	241.732
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	505.774	452.198	322.133
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	383.147	242.772	77.313
(c) Trade receivables	32.158	17.756	118.668
(d) Cash and cash equivalents	102.401	41.161	66.832
(e) Short-term loans and advances	27.531	20.461	20.270
(f) Other current assets	118.242	386.789	839.988
Total Current Assets	663.479	708.939	1123.071
TOTAL	1169.253	1161.137	1445.204

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2014	31.12.2013	31.12.2012
	SALES
		Income	2495.470	1858.004	1098.172
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		73.812	51.987	212.642
	EARNINGS IN FOREIGN CURRENCY
		Recoveries From Group Companies	0.000	33.819	15.891
		Rendering of Support Services to Group Companies	30.710	0.000	0.000
		Sale of Fixed Asset	0.000	0.000	6.512
	TOTAL EARNINGS		30.710	33.819	22.403
	Earnings Per Share (Rs.)		27.04	19.04	77.89

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.12.2014	31.12.2013	31.12.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	256.854	213.661	179.279

KEY RATIOS

PARTICULARS		31.12.2014	31.12.2013	31.12.2012
Net Profit Margin (PAT / Sales)	(%)	2.96	2.80	19.36
Debt Equity Ratio (Total Liability/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.61	0.61	0.75

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	27.300	27.300	27.300
Reserves & Surplus	(84.779)	(32.792)	41.020
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(57.479)	(5.492)	68.320
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1098.172	1858.004	2495.470
		69.191	34.309

NET PROFIT MARGIN

Net Profit Margin	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1098.172	1858.004	2495.470
Profit	212.642	51.987	73.812
	19.36%	2.80%	2.96%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10533020	01/10/2014	200,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	52/60,M.G.ROAD,, MUMBAI, MAHARASHTRA - 400001, INDIA	C34738179

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from No. RF-1, Kakad Chambers Annex,132, Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India to the present address w.e.f.25.01.2010.

GENERAL INFORMATION

Red Bull India Private Limited ('the Company') was incorporated on 3 April 2007. The Company has been set up with the objective to establish the Energy Drink category in India by marketing the Red Bull Group's brand Red Bull Energy Drink.

FIXED ASSETS:

· Furniture and fixtures

· Vehicles

· Office equipment

· Leasehold improvements

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 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. 63.71
UK Pound	1	Rs. 99.57
Euro	1	Rs. 69.63

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.