MIRA INFORM REPORT
|
Report No. : |
347520 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLEMINGO DUTYFREE SHOP PRIVATE LIMITED |
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|
|
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Registered
Office : |
D-73/1, TTC Industrial Area, MIDC Turbhe, Navi Mumbai - 400705,
Maharashtra |
|
Tel. No.: |
91-22-66269999 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.03.2004 |
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Com. Reg. No.: |
11-144881 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.507 Million |
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CIN No.: [Company Identification
No.] |
AAACF7909E |
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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.] |
AAACF7909E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is in the business of duty free sale of goods including operating Dutyfree shops at various Airports, Sea ports, International borders in India. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 |
|
Maximum Credit Limit : |
USD 7043000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a 79.99% subsidiary of Flamingo International (BVI)
Limited, Virgin Islands, British, which is a duty free retailer which
operates duty free shops in seven international airports operated by Airports
Authority of India (AAI). These airports are Chennai Trichy, Calicut,
Mangalore, Goa, Calcutta and Ahmedabad. Apart from these the company also
operates duty free shops in seven seaports namely Mumbai, Chennai, Mundra,
Paradwip, Mangalore, Hubli. The rating takes into consideration strong financial risk profile of
the company marked by strong networth base along with comfortable debt level.
Further, it has reported decent profit margin from its operations in the year
2014. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitments. In view of strong support from its parent company along with healthy
financials, the subject can be considered for business dealings with usual
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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating : A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
December, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating : A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
December, 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
31-03-2015.
INFORMATION DECLINED
Management non-cooperative (91-22-66269999)
LOCATIONS
|
Registered Office : |
D-73/1, TTC Industrial Area, MIDC Turbhe, Navi Mumbai - 400705,
Maharashtra, India |
|
Tel. No.: |
91-22-66269999 |
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Fax No.: |
91-22-27672718/66269994 |
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E-Mail : |
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Website : |
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Admin Office : |
Old No. 16A, New No. 35, 1st Floor KV Apartments Poes, Chennai - 600086,
Tamilnadu, India |
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Tel. No.: |
91-44-43144736 |
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Fax No.: |
91-44-24992412 |
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Airports : |
Located at:
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Sea Ports : |
Located at:
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DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Anukkavoor Raghavan Veera |
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Designation : |
Director |
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Address : |
B-11, Shravan Shrish, CHS, Sector V, Miraroad – (East), Thane-401104, Maharashtra, India |
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Date of Birth/Age : |
07.10.1955 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
02312716 |
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Other Directorship:
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Name : |
Mr. Vivek Sarvotham Bhat |
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Designation : |
Director |
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Address : |
Row House No.1, Om Villa CHS Limited, Plot No. 57-61, Sector-21, Nerul (East), Navi Mumbai-400706, Maharashtra, India |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
07140076 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Viren Vini Ahuja |
|
5000 |
|
Arjun A. Ahuja |
|
2500 |
|
Karan A. Ahuja |
|
2500 |
|
Flemingo International (BVI) Limited, Island |
|
40565 |
|
Symbolic Infra Projects Private Limited, India |
|
150 |
|
Total |
|
50715 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
79.98 |
|
Bodies corporate |
0.30 |
|
Directors or relatives of Directors |
19.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of duty free sale of goods including operating Dutyfree shops at various Airports, Sea ports, International borders in India. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· ING Vysya Bank Limited, 22, M G Road,Bangalore, Bangalore- 560001, Karnataka, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India,, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · The Federal Bank Limited, 51, Apasara Apartments, Sector 17, Vashi, Navi Mumbai -400703, Maharashtra, India · State Bank of India, SME Backbay Reclamation Branch, Raheja Chamber, Nariman Point, Mumbai - 400021, Maharashtra, India · Dhanlaxmi Bank Limited, Janmabhoomi Bhavan, Janmbhoomi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Uberoi Sood and Kapoor Chartered Accountants |
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Address : |
606, Vishal Bhawan, 95, Nehru Place, New Delhi- 110019, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFU1674L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Ultimate Holding
Company : |
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Subsidiary
Companies : |
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Fellow Subsidiaries
: |
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Enterprises over
which key management personnel or their relatives exercise significant
influence : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
4,000,000 |
Preference shares |
Rs.100/- each |
Rs. 400.000 Million |
|
|
Total |
|
Rs. 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,715 |
Equity Shares |
Rs.10/- each |
Rs. 0.507
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 |
0.507 |
0.507 |
400.333 |
|
(b) Reserves & Surplus |
2464.789 |
2186.994 |
960.973 |
|
(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) |
2465.296 |
2187.501 |
1361.306 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.367 |
115.162 |
169.250 |
|
(b) Deferred tax liabilities (Net) |
12.522 |
9.507 |
8.659 |
|
(c) Other long term
liabilities |
78.599 |
78.599 |
118.656 |
|
(d) long-term
provisions |
7.113 |
3.934 |
2.361 |
|
Total Non-current
Liabilities (3) |
101.601 |
207.202 |
298.926 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
243.969 |
113.562 |
693.587 |
|
(b) Trade
payables |
693.487 |
809.750 |
674.845 |
|
(c) Other
current liabilities |
260.348 |
189.157 |
248.219 |
|
(d) Short-term
provisions |
103.286 |
98.050 |
4.084 |
|
Total Current
Liabilities (4) |
1301.090 |
1210.519 |
1620.735 |
|
|
|
|
|
|
TOTAL |
3867.987 |
3605.222 |
3280.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
152.961 |
153.013 |
158.012 |
|
(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 |
12.445 |
2.960 |
1.536 |
|
(b) Non-current Investments |
1745.557 |
1745.557 |
1624.313 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
290.599 |
260.286 |
10.478 |
|
Total Non-Current
Assets |
2201.562 |
2161.816 |
1794.339 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
14.000 |
14.000 |
13.224 |
|
(b)
Inventories |
424.831 |
386.580 |
368.711 |
|
(c) Trade
receivables |
5.627 |
86.110 |
106.491 |
|
(d) Cash
and cash equivalents |
570.369 |
327.188 |
372.488 |
|
(e)
Short-term loans and advances |
651.598 |
629.528 |
625.714 |
|
(f) Other
current assets |
0 |
0.000 |
0.000 |
|
Total
Current Assets |
1666.425 |
1443.406 |
1486.628 |
|
|
|
|
|
|
TOTAL |
3867.987 |
3605.222 |
3280.967 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3387.445 |
3184.691 |
1989.083 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
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|
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|
PROFIT/ (LOSS)
BEFORE TAX |
432.485 |
425.920 |
27.678 |
|
|
|
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|
|
|
|
|
Less |
TAX |
154.691 |
149.925 |
18.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
277.794 |
275.995 |
9.063 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1025.410 |
749.496 |
740.433 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1303.204 |
1025.410 |
749.496 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3069.786 |
2983.946 |
1753.860 |
|
|
|
|
|
|
|
|
|
|
Value of Imports on
CIF basis |
|
|
|
|
|
|
|
Purchase of finished Goods |
2004.872 |
1355.768 |
885.230 |
|
|
TOTAL IMPORTS |
2004.872 |
1355.768 |
885.230 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
5478.00 |
6512.00 |
272.00 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
89.552 |
54.297 |
55.645 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
312.139 |
147.195 |
41.089 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.20 |
8.67 |
0.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.50 |
22.94 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.19 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.13 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.19 |
0.92 |
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 |
400.333 |
0.507 |
0.507 |
|
Reserves & Surplus |
960.973 |
2186.994 |
2464.789 |
|
Net
worth |
1361.306 |
2187.501 |
2465.296 |
|
|
|
|
|
|
long-term borrowings |
169.250 |
115.162 |
3.367 |
|
Short term borrowings |
693.587 |
113.562 |
243.969 |
|
current maturities of
long-term debts |
55.645 |
54.297 |
89.552 |
|
Total
borrowings |
918.482 |
283.021 |
336.888 |
|
Debt/Equity
ratio |
0.675 |
0.129 |
0.137 |
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) |
|
Sales |
1989.083 |
3184.691 |
3387.445 |
|
|
|
60.109 |
6.367 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1989.083 |
3184.691 |
3387.445 |
|
Profit |
9.063 |
275.995 |
277.794 |
|
|
0.46% |
8.67% |
8.20% |
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 |
Yes |
|
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 |
Yes |
|
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 |
GENERAL INFORMATION
The company is a company, with its registered office at D - 73/1, TTC Industrial Area, MIDC, Turbhe, Navi Mumbai - 400705. The Company is in the business of duty free sale of goods including operating Dutyfree shops at various Airports, Sea ports, International borders in India.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
3.367 |
2.828 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
243.969 |
110.860 |
|
Loans repayable on demand from others |
0.000 |
2.702 |
|
Total |
247.336 |
116.390 |
REVIEW OF OPERATION
During the year, the Company had achieved revenue of Rs. 3387.445 Million as against Rs. 3184.691 Million in the previous year. The net profit for the year was Rs. 277.794 Million as against Rs. 275.995 Million during the previous financial year. The Directors are continuously looking for avenues for future growth of the Company.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10560354 |
13/03/2015 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
C49573736 |
|
2 |
10530060 |
20/02/2015 * |
500,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
C45623915 |
|
3 |
10519245 |
03/09/2014 |
350,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR,, KOLHAPUR, Maharashtra - 416001, INDIA |
C20059895 |
|
4 |
10452227 |
26/08/2013 |
600,000,000.00 |
BANK OF INDIA |
MUMBAI MIDCORPORATE BRANCH, BOI BLDGS 70/80,MG ROAD FORT, MUMBAI, Maharashtra
- 400001, INDIA |
B86324134 |
|
5 |
10324168 |
28/11/2014 * |
550,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
C36960839 |
|
6 |
10311817 |
13/02/2015 * |
550,000,000.00 |
THE FEDERAL BANK LTD. |
51, APSARA APARTMENTS,, SECTOR 17, VASHI, NAVI MUMBAI, Maharashtra -
400705, INDIA |
C51249423 |
|
7 |
10175141 |
05/08/2009 |
550,000,000.00 |
THE FEDERAL BANK LIMITED |
51 APSARA APARTMENTS, SECTOR 17,, VASHI - NAVI MU |
A68952241 |
|
8 |
10175142 |
05/08/2009 |
550,000,000.00 |
THE FEDERAL BANK LIMITED |
51 APSARA APARTMENTS, SECTOR 17,, VASHI - NAVI MUMBAI,, Mumbai, Maharashtra
- 400702, INDIA |
A68952316 |
|
9 |
10169616 |
17/06/2009 |
150,000,000.00 |
THE FEDERAL BANK LIMITED |
Vashi Branch, 51, Apsara Apartments, Sector 17, Vashi - Navi Mumbai,
Mumbai, Maharashtra - 400702, INDIA |
A66591892 |
|
10 |
10038573 |
25/06/2007 * |
480,000,000.00 |
THE FEDERAL BANK LIMITED |
51, APSARA APARTMENT, SECTOR 17, VASHI, NAVI MUMBAI, Maharashtra -
400703, INDIA |
A20588356 |
* Date of charge modification
FIXED ASSETS
· Building
· Furniture and Fixture
· Air conditioner
· Computer
· Bar code scanner and printer
· Fire Extinguisher
· Mobile Phone
· Vehicles
· Fax Machines
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.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
58 |
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.