MIRA INFORM REPORT
|
Report No. : |
321478 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYATT INDIA CONSULTANCY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-20, Hotel Grand Hyatt Plaza, Off Western Express Highway, Santacruz
(East), Mumbai – 400055, Maharashtra |
|
|
|
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Tel. No.: |
91-124-4731238 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-174756 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.19.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2007FTC174756 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH10884G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH9297E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is in the business of Rendering Consulting Services, Back Office
Support Services, Information Systems and Other Support Services. |
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|
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|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Profitability of the company is sound. Company is operating on its own
funds. Overall financial position of the company is sound and healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as epr commitment. The company can be considered good for normal 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Amol Mangaonkar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-124-4731238 |
|
Date : |
07.05.2015 |
LOCATIONS
|
Registered Office : |
G-20, Hotel Grand Hyatt Plaza, Off Western Express Highway, Santacruz (East),
Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-124-4731238/ 4731234 |
|
Fax No.: |
91-124-4731235 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. James Edward Lawler |
|
Designation : |
Director |
|
Address : |
1225, Heather Lane, Glenview, Chicago 60025, United States of America |
|
Date of Birth/Age : |
15.06.1964 |
|
Date of Appointment : |
19.10.2007 |
|
DIN No.: |
01760007 |
|
|
|
|
Name : |
Mr. Dhruv Sen Rathore |
|
Designation : |
Additional Director |
|
Address : |
Devi Niwas, Bhagirath Colony, Chomu House, Jaipur – 320001, Rajasthan,
India |
|
Date of Birth/Age : |
28.06.1967 |
|
Date of Appointment : |
17.04.2012 |
|
DIN No.: |
01790865 |
|
|
|
|
Name : |
Mr. Vinay Thakur |
|
Designation : |
Alternative Director |
|
Address : |
BM-21 East, Shalimar Bagh, Delhi – 110088, India |
|
Date of Birth/Age : |
13.09.1979 |
|
Date of Appointment : |
05.07.2013 |
|
DIN No.: |
06625321 |
KEY EXECUTIVES
|
Name : |
Mr. Amol Mangaonkar |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Hi Holdings Cyprus-India Limited, Cyprus |
1949999 |
|
Hyatt Minority Investments Inc., Illinois |
1 |
|
Total |
1950000 |
As on 29.09.2014
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of Rendering Consulting Services, Back
Office Support Services, Information Systems and Other Support Services. |
|
|
|
|
Products : |
· Rendering Consulting Services · Back Office Support Services · Information Systems · Other Support Services |
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
Cash and Credit (30 Days/ 60 Days/ 90 Days) |
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Purchasing : |
Cash and Credit (30 Days/ 60 Days/ 90 Days) |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
OEM’s and End Users
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10,Tower B, DLF Cyber City Complex, DLF City Phase 2, Gurgaon – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
HI Holding Cyprus India Limited, Cyprus |
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Ultimate Holding Company : |
Hyatt Hotels Corporation |
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|
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Fellow Subsidiaries : |
·
Hyatt Chain Services Limited ·
Hyatt International South West Asia Limited ·
Hyatt International Hotels ·
Hyatt Hotels Corporation ·
Information Services Limited ·
Hyatt Services India Private Limited ·
International Reservations Limited ·
Hyatt Minority Investments Inc. ·
Hyatt International Technical Services Inc. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11700000 |
Equity Shares |
Rs.10/- each |
Rs.117.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1950000 |
Equity Shares |
Rs.10/- each |
Rs.19.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
19.500 |
19.500 |
19.500 |
|
(b) Reserves & Surplus |
89.501 |
202.218 |
140.047 |
|
(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) |
109.001 |
221.718 |
159.547 |
|
|
|
|
|
|
(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 |
6.297 |
4.562 |
2.460 |
|
Total Non-current
Liabilities (3) |
6.297 |
4.562 |
2.460 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
19.098 |
11.596 |
6.951 |
|
(c) Other
current liabilities |
32.572 |
32.047 |
41.522 |
|
(d) Short-term
provisions |
2.409 |
1.763 |
0.656 |
|
Total Current
Liabilities (4) |
54.079 |
45.406 |
49.129 |
|
|
|
|
|
|
TOTAL |
169.377 |
271.686 |
211.136 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11.243 |
10.067 |
11.271 |
|
(ii)
Intangible Assets |
0.327 |
0.059 |
0.195 |
|
(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) |
8.465 |
4.732 |
3.195 |
|
(d) Long-term Loan and Advances |
11.182 |
16.398 |
14.677 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
31.217 |
31.256 |
29.338 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
124.575 |
233.723 |
170.610 |
|
(d) Cash
and cash equivalents |
11.016 |
3.651 |
7.672 |
|
(e)
Short-term loans and advances |
2.569 |
3.056 |
3.516 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
138.160 |
240.430 |
181.798 |
|
|
|
|
|
|
TOTAL |
169.377 |
271.686 |
211.136 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
247.302 |
245.29 |
|
|
|
|
Other Income |
21.892 |
7.018 |
|
|
|
|
TOTAL |
269.194 |
252.308 |
241.441 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
100.297 |
93.583 |
|
|
|
|
Other expenses |
64.796 |
62.551 |
|
|
|
|
TOTAL |
165.093 |
156.134 |
143.527 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
104.101 |
96.174 |
97.914 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.061 |
1.313 |
4.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
102.040 |
94.861 |
93.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
32.760 |
32.690 |
31.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
69.280 |
62.171 |
62.562 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
202.218 |
140.047 |
77.485 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.222 |
0.000 |
0.000 |
|
|
|
Dividend |
155.559 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
26.437 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
69.280 |
202.218 |
140.047 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Business Development and Consultancy Fees |
141.088 |
162.515 |
147.353 |
|
|
TOTAL EARNINGS |
141.088 |
162.515 |
147.353 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
35.53 |
31.88 |
32.08 |
|
Expected Sales (2014-2015): Rs. 270.000 Millions
The above information has been parted by Mr. Amol Mangaonkar (Account
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
28.01 |
25.35 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
42.09 |
39.21 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
63.41 |
35.53 |
45.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.94 |
0.43 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55 |
5.30 |
3.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
19.500 |
19.500 |
19.500 |
|
Reserves & Surplus |
140.047 |
202.218 |
89.501 |
|
Net
worth |
159.547 |
221.718 |
109.001 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
241.441 |
252.308 |
269.194 |
|
|
|
4.501 |
6.693 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
241.441 |
252.308 |
269.194 |
|
Profit |
62.562 |
62.171 |
69.280 |
|
|
25.91% |
24.64% |
25.74% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
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 |
No |
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
CHANGE OF ADDRESS
The registered office of the company has been shifted from F-11, Grand Hyatt Plaza, Off Western Expressway, Vakola, Santacruz, Mumbai – 400055, Maharashtra, India to the present address 11.07.2008.
CORPORATE INFORMATION
The company was incorporated on 5th October, 2007. The company is in the business of rendering consulting services, back support services, information systems and other support services to the Hyatt group of Hotels.
FIXED ASSETS
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Software
·
License
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. 63.88 |
|
|
1 |
Rs. 97.21 |
|
Euro |
1 |
Rs. 72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
60 |
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.