MIRA INFORM REPORT

Report No. :	347160
Report Date :	27.10.2015

IDENTIFICATION DETAILS

Name :	BATEY INDIA PRIVATE LIMITED (w.e.f. 10.05.2011)
Formerly Known As :	G3 COMMUNICATIONS PRIVATE LIMITED (w.e.f. 22.12.2003) ENHANCE ADVERTISING PRIVATE LIMITED ENHANCE ADVERTISING LIMITED
Registered Office :	Grey House,28, Dr E. Borges Road, Opposite Dr. Shirodkar, High School, Parel, Mumbai – 400012, Maharashtra
Mob. No.:	91-22-40366363
Country :	India
Financials (as on) :	31.12.2014
Date of Incorporation :	26.04.1996
Com. Reg. No.:	11-099169
Capital Investment / Paid-up Capital :	Rs. 0.200 Million
CIN No.: [Company Identification No.]	U74300MH1996PTC099169
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUME03972D
PAN No.: [Permanent Account No.]	AAACE6517E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject Is engaged in Advertising Services.
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 “Grey Worldwide India Private Limited”, which is a part of “Grey Group”. Grey is one of the ten largest advertising agencies in the world, with offices in over 83 countries. The rating on company reflects strong parentage support in form of financial, managerial and technical knowhow. Rating further takes into consideration company decent financial base backed by its zero debt balance sheet profile. Rating continues to takes into account on company’s well established track as well as reputed cliental base along with recognized brand name “Grey” globally. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. 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 31-03-2015.

INFORMATION DECLINED BY

Name :	Mr. Balraj
Designation :	Finance Department
Contact No.:	91-22-40366363
Date :	26.10.2015

LOCATIONS

Registered Office :	Grey House,28, Dr E. Borges Road, Opposite Dr. Shirodkar, High School, Parel, Mumbai – 400012, Maharashtra, India
Tel. No.:	91-22-40366363/ 66636363
Fax No.:	91-22-66636220/ 40366220
E-Mail :	dilip.kotak@grey.com gwwindia@grey.com

DIRECTORS

AS ON 19.05.2015

Name :	Mr. Nirvik Singh
Designation :	Director
Address :	Flat No. 11, South 11^th floor, Kanchanjunga Peddar Road, Mumbai - 400026, Maharashtra, India
Date of Birth/Age :	23.08.1963
Date of Appointment :	26.04.1996
DIN No.:	01570572
Name :	Mr. Sudhir Swaminathan Nair
Designation :	Director
Address :	C/102, Cypress Co-Operative Housing Society, Swapna Nagary, Mulund (West), Mumbai - 400080, Maharashtra, India
Date of Birth/Age :	16.04.1973
Date of Appointment :	25.06.2013
DIN No.:	06559530
Name :	Mr. Samir Anand Chadha
Designation :	Additional Director
Address :	13-Hill Range Apartment, 10-B, Pali Mala Road, Bandra, Mumbai - 400050, Maharashtra, India
Date of Appointment :	07.07.2015
DIN No.:	07227546

KEY EXECUTIVES

Name :	Mr. Balraj
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 19.05.2015

Names of Shareholders	No. of Shares
Nirvik Manmohan Singh	03
Sudhir Swaminathan Nair	04
Grey Worldwide (India) Private Limited, India	20000
Total	20007

AS ON 19.05.2015

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.97
Directors or relatives of directors	0.02
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Advertising Services.
Brand Names :	“Grey”
Agencies Held :	--
Exports :	Not Divulged
Imports :	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

Auditors :
Name :	Ganesh Shanbhag Chartered Accountant
Address :	Room No. 5, Kubal Vilas,1st Floor, 29-D, Behind Plaza Cinema, Dadar, Mumbai – 400028, Maharashtra, India
Tel. No.:	91-91-22-24380159
Income-tax PAN of auditor or auditor's firm :	AACPS9938H
Memberships :	--
Collaborators :	--
Holding Company :	Grey Worldwide (India) Private Limited (U74210MH1975PTC018529)

CAPITAL STRUCTURE

AS ON 31.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs. 10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20,007	Equity Shares	Rs. 10/- each	Rs. 0.200 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	0.200	0.200	0.200
(b) Reserves & Surplus	46.742	44.885	47.045
(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)	46.942	45.085	47.245
(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	0.047	0.033	0.000
Total Non-current Liabilities (3)	0.047	0.033	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1.357	0.311	3.494
(c) Other current liabilities	0.059	0.102	0.786
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	1.416	0.413	4.280
TOTAL	48.405	45.531	51.525
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(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)	0.044	0.077	0.087
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	3.769	7.669	9.762
Total Non-Current Assets	3.813	7.746	9.849
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.504	2.348	9.777
(d) Cash and cash equivalents	43.260	35.174	31.770
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.828	0.263	0.129
Total Current Assets	44.592	37.785	41.676
TOTAL	48.405	45.531	51.525

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2014	31.12.2013	31.12.2012
	SALES
		Income	9.585	10.788	30.601
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		6.143	5.150	25.844
Less	TAX		4.286	7.310	2.900
	PROFIT/ (LOSS) AFTER TAX		1.857	(2.160)	22.944
	Earnings/ (Loss) Per Share (Rs.)		92.83	(107.95)	1146.78

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 Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.12.2014	31.12.2013	31.12.2012
Net Profit Margin (PAT / Sales)	(%)	19.37	-20.02	74.98
Return on Total Assets (PBT/Total Assets}	(%)	12.70	11.33	50.24
Return on Investment (ROI) (PBT/Networth)		0.13	0.11	0.55
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		31.49	91.49	9.74

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	0.200	0.200	0.200
Reserves & Surplus	47.045	44.885	46.742
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	47.245	45.085	46.942
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)
Income	30.601	10.788	9.585
		(64.746)	(11.151)

NET PROFIT MARGIN

Net Profit Margin	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Income	30.601	10.788	9.585
Profit	22.944	(2.160)	1.857
	74.98%	(20.02%)	19.37%

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	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	No
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: NO CHARGES EXIST FOR COMPANY 

GENERAL INFORMATION

The company is engaged mainly in advertising services. The company has registered office in Parel, Mumbai.

FIXED ASSETS:

· Computer

· Furniture’s and Fixtures

· Vehicles

· Computer Software

· Office Equipment

· Lease Hold Improvement

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.64.96
UK Pound	1	Rs.99.55
Euro	1	Rs.71.64

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAS
Report Prepared by :	ARC

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	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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.