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|
|
MIRA INFORM REPORT
|
Report No. : |
504282 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PAUL MERCHANTS LIMITED |
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|
|
|
Registered
Office : |
DSM 335, 336, 337, 3rd Floor, DLF Tower, 15, Shivaji Marg, Najafgarh Road, New Delhi -110015 |
|
Tel. No.: |
91-11-25812490 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
13.07.1984 |
|
|
|
|
Com. Reg. No.: |
55-018679 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 10.280 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74900DL1984PLC018679 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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TIN No: |
Not Available |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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ISO: |
9001:2008 |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
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Line of Business
: |
(Registered Activity) |
|
|
|
|
No. of Employees
: |
1205 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1994 having good track record. For the financial year 2017, the company has achieved decent growth in
its revenue as compared to its previous year along with fair profit margin
during the year. Rating takes into consideration, the healthy financial risk profile
marked by adequate net worth base ad strong debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operation backed by its well – experienced management
team. The company has its share price trading at around INR 5144.95 on BSE
as on 17th April 2018 as against its face value of INR 10. As per 3rd quarter results of December 2017, the company
has achieved revenue of INR 12135.00 million. However, these rating weakness gets partially offset by its presence
in highly fragmented service industry. Payment seems to be regular. In view of aforesaid, 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS) / DENIED BY
Given Number Swath off (91-9317710234)
Management non-cooperative (Tel No.: 91-172-5041754)
LOCATIONS
|
Registered Office : |
DSM 335, 336, 337, 3rd Floor, DLF Tower, 15, Shivaji Marg, Najafgarh Road, New Delhi -110015, India |
|
Tel. No.: |
91-11-25812490/ 48702000 |
|
Fax No.: |
91-11-25812490 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
PML House, SCO 829-830, Sector 22-A, Chandigarh-160022, India |
|
Tel. No.: |
91-172-5041786, 5025090/ 5041740/ 5041757/ 5041792 |
|
Fax No.: |
91-172-5041754, 5041755, 5041713 |
|
E-Mail : |
|
|
|
|
|
Regional Office 1: |
103, Ambalal Avenue, Stadium 5 Cross Road, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79 – 30126693/94, 26425174 |
|
Fax No.: |
91-79 – 26402589 |
|
E-Mail : |
|
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|
|
|
Regional Office 2: |
No.43, Ground Floor, Castle Street, Ashok Nagar, Bangalore – 560025, Karnataka, India |
|
Tel. No.: |
91-80-25563533 |
|
Fax No.: |
91-80-25562522 |
|
E-Mail : |
|
|
|
|
|
Regional Office 3: |
27, A&B, Royd Street, G-2, Abhinandan Apartment, Kolkata, West Bengal, India |
|
Tel. No.: |
91-33-32951288 |
|
Fax No.: |
91-33-22277411 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sat Paul Bansal |
|
Designation : |
Managing Director |
|
Address : |
H. No. 749, Sector 8, Chandigarh-160008, India |
|
Date of Appointment : |
27.09.1990 |
|
DIN No: |
00077499 |
|
|
|
|
Name : |
Mr. Rajneesh Bansal |
|
Designation : |
Wholetime Director |
|
Address : |
H. No. 749, Sector 8, Chandigarh-160008, India |
|
Date of Appointment : |
27.02.1999 |
|
DIN No: |
00077230 |
|
|
|
|
Name : |
Mr. Sandeep Bansal |
|
Designation : |
Director |
|
Address : |
H. No. 749, Sector 8, Chandigarh-160008, India |
|
Date of Birth/Age : |
25.12.1970, 46 Years |
|
Date of Appointment : |
18.09.1993 |
|
Qualification : |
Graduate in Arts |
|
DIN No: |
00094391 |
|
Other Directorship: 1. Chandigarh Network Systems Private Limited 2. Paul E Commerce Private Limited 3. Paul Energy Projects Private Limited 4. Divya Broadcasting Network Private Limited 5. Paul Entertainments Private Limited 6. Paul Broadcasting Private Limited 7. INX Music Private Limited 8. Prabhsharanshanti Films Private Limited 9. BBSM Films Private Limited 10. Newsclip Media Private Limited 11. Strikeone Jobs Private Limited |
|
|
|
|
|
Name : |
Mrs. Sarita Rani Bansal |
|
Designation : |
Director |
|
Address : |
H. No. 749, Sector 8, Chandigarh-160008, India |
|
Date of Appointment : |
01.04.2015 |
|
DIN No: |
00094504 |
|
|
|
|
Name : |
Mr. Ajay Kumar Arora |
|
Designation : |
Director |
|
Address : |
47-A, Flat No.802, BL-A7, 2, 3F, B4, Mahalaxm House No. 186, Advocate
Society, Sector 49-A, Chandigarh -160047, India |
|
Date of Appointment : |
27.05.2014 |
|
DIN No: |
00314161 |
|
|
|
|
Name : |
Mr. Vigyan Prakash Arora |
|
Designation : |
Director |
|
Address : |
House No. 452, Sector – 7, Panchkula-134109, Haryana, India |
|
Date of Appointment : |
01.04.2010 |
|
DIN No: |
00806647 |
|
|
|
|
Name : |
Mr. Krishan Lall Khetarpaul |
|
Designation : |
Director |
|
Address : |
D-3/3564, 1st Floor, Vasant Kunj, New Delhi-110070, India |
|
Date of Appointment : |
25.10.2014 |
|
DIN No: |
01268756 |
|
|
|
|
Name : |
Mr. Arjun Pandurang Ghugal |
|
Designation : |
Director |
|
Address : |
B-102, Diamond Court, 40, Napeansea Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
25.10.2014 |
|
DIN No: |
02414741 |
|
|
|
|
Name : |
Mr. Dilbag Singh Sidhu |
|
Designation : |
Director |
|
Address : |
50-51, Aggar Nagar Extension, Ferozepur Road, Ludhiana-141012, Punjab,
India |
|
Date of Appointment : |
26.02.2012 |
|
DIN No: |
05210193 |
|
|
|
|
Name : |
Mr. Uma Shankar Paliwal |
|
Designation : |
Director |
|
Address : |
Flat No-132, Vasant Vihar, Complex, RBI Senior Officers Quaters 85,
Napean Sea Road, Mumbai-400006 , Maharashtra, india |
|
Date of Birth/Age : |
22.12.1956, 60 Years |
|
Date of Appointment : |
29.05.2017 |
|
Qualification : |
1. M.A. (Economics), Panjab University 2. M.A. (History), Panjab University 3. M.Phil. (History), Panjab University 4. M.B.A. (Financial Management) (with distinction), University of Exeter, U.K. 5. Alumni, London Business School 6. Certified Associate, Indian Institute of Bankers |
|
DIN No: |
06907963 |
|
|
|
|
Name : |
Mr. Dharam Pal Sharma |
|
Designation : |
Wholetime Director |
|
Address : |
House No. 5063, MHC, Manimajra, Chandigarh-160101, India |
|
Date of Appointment : |
09.11.2015 |
|
DIN No: |
07284332 |
KEY EXECUTIVES
|
Name : |
Mr. Tilak Raj Khepar |
|
Designation : |
Chief Finance Officer |
|
Address : |
House No 1474/2, Sector 43-B, Chandigarh- 160022, India n |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
ABCPK2505K |
|
|
|
|
Name : |
Mr. Hardam Singh |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 2910/2, Sector 42, Chandigarh-160042, India |
|
Date of Appointment : |
19.08.2003 |
|
PAN No.: |
APYPS4687Q |
MAJOR SHAREHOLDERS
As on DECEMBER 2017
|
Category of shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
747448 |
72.71 |
|
|
(B) Public |
280552 |
27.29 |
|
|
Grand Total |
1028000 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided
Family |
645093 |
62.75 |
|
|
SAT PAUL BANSAL |
201100 |
19.56 |
|
|
RAJNEESH BANSAL |
149746 |
14.57 |
|
|
SANDEEP BANSAL |
144507 |
14.06 |
|
|
SARITA RANI BANSAL |
144500 |
14.06 |
|
|
NITA BANSAL |
5240 |
0.51 |
|
|
Any Other (specify) |
102355 |
9.96 |
|
|
PAUL EXCURSIONS PRIVATE LIMITED |
102355 |
9.96 |
|
|
Sub Total A1 |
747448 |
72.71 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
747448 |
72.71 |
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto
INR 0.200 million |
158214 |
15.39 |
|
|
Individual share capital in excess
of INR 0.200 million |
121100 |
11.78 |
|
|
VIKRAM GUPTA |
47600 |
4.63 |
|
|
VINOD KUMAR GARG |
44500 |
4.33 |
|
|
SARITA GUPTA |
29000 |
2.82 |
|
|
Any Other (specify) |
1238 |
0.12 |
|
|
HUF |
165 |
0.02 |
|
|
NRI – Repat |
74 |
0.01 |
|
|
NRI – Non- Repat |
22 |
0.00 |
|
|
Clearing Members |
61 |
0.01 |
|
|
Bodies Corporate |
916 |
0.09 |
|
|
Sub Total B3 |
280552 |
27.29 |
|
|
B=B1+B2+B3 |
280552 |
27.29 |
BUSINESS DETAILS
|
Line of Business
: |
(Registered Activity) |
||||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||||
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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 : |
Wholesalers, Retailers, End Users, OEM’s, Manufacturer
|
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|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
1205 (Approximately) |
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Bankers : |
|
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|
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|
Facilities : |
|
|
Statutory Auditors |
|
|
Name : |
Jain
and Associates Chartered Accountants |
|
Address : |
SCO
819-820, Sector 22-A, Chandigarh -160022, India |
|
Tel. No: |
91-172-2705761,2701629 |
|
Fax. No: |
91-172- 5089769 |
|
Email: |
|
|
|
|
|
Internal Auditor |
Rajesh
Garg Chartered Accountant |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Partnership Firm in
which Directors are Partners |
Paul Distributors |
|
|
|
|
Other Related
Parties: |
|
|
|
|
|
Joint Venture |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1028000 |
Equity Shares |
INR 10/- each |
INR 10.280 Million |
|
|
|
|
|
a) Terms /
rights attached to equity shares
b) Reconciliation of Number
of Shares Outstanding at the beginning and end of the year
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
Shares outstanding at the beginning of the year |
1028000 |
INR 10.280 Million |
|
|
|
|
|
Shares outstanding at the end of the year |
1028000 |
INR 10.280 Million |
c) Details of
shareholders holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
Number |
% of holding |
|
|
Sat Paul Bansal |
2 ,01,100 |
19.56 |
|
Sarita Rani Bansal |
1 ,44,500 |
14.06 |
|
Rajneesh Bansal |
1,49,746 |
14.57 |
|
Sandeep Bansal |
1,44,507 |
14.06 |
|
Paul Excursions Private Limited |
1,02,355 |
9.96 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.280 |
10.280 |
10.280 |
|
(b) Reserves & Surplus |
1507.492 |
1382.981 |
1178.789 |
|
(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) |
1517.772 |
1393.261 |
1189.069 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.978 |
66.862 |
102.207 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.242 |
3.337 |
4.750 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.220 |
70.199 |
106.957 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
167.676 |
132.215 |
88.931 |
|
(b) Trade
payables |
266.456 |
290.520 |
369.063 |
|
(c) Other current
liabilities |
187.921 |
116.444 |
73.864 |
|
(d) Short-term
provisions |
153.786 |
152.974 |
119.916 |
|
Total Current
Liabilities (4) |
775.839 |
692.153 |
651.774 |
|
|
|
|
|
|
TOTAL |
2300.831 |
2155.613 |
1947.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
503.693 |
502.771 |
395.746 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
10.583 |
10.428 |
15.851 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.200 |
|
(b) Non-current Investments |
30.472 |
42.485 |
39.804 |
|
(c) Deferred tax assets (net) |
9.947 |
12.106 |
10.664 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
21.571 |
29.472 |
139.377 |
|
Total Non-Current
Assets |
576.266 |
597.262 |
602.642 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
84.193 |
50.959 |
0.000 |
|
(b)
Inventories |
51.542 |
33.152 |
28.954 |
|
(c) Trade
receivables |
346.238 |
428.432 |
493.841 |
|
(d) Cash
and cash equivalents |
931.185 |
762.569 |
613.120 |
|
(e)
Short-term loans and advances |
311.407 |
283.239 |
206.888 |
|
(f) Other
current assets |
0.000 |
0.000 |
2.355 |
|
Total Current
Assets |
1724.565 |
1558.351 |
1345.158 |
|
|
|
|
|
|
TOTAL |
2300.831 |
2155.613 |
1947.800 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
29926.120 |
24635.504 |
21637.078 |
|
|
Other Income |
54.518 |
51.444 |
34.773 |
|
|
TOTAL |
29980.638 |
24686.948 |
21671.851 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
28500.118 |
23111.079 |
20222.289 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.390) |
(4.573) |
(6.454) |
|
|
Employees benefits
expense |
329.540 |
327.524 |
305.899 |
|
|
Direct Expenses |
553.554 |
587.134 |
584.769 |
|
|
Office & Administrative
Expenses |
166.962 |
200.140 |
166.120 |
|
|
Sales Promotion Expenses |
43.045 |
78.247 |
75.730 |
|
|
Corporate Social
Responsibility Expenses |
5.746 |
5.116 |
5.159 |
|
|
Exceptional Items |
2.667 |
0.000 |
6.907 |
|
|
Other expenses |
6.289 |
5.947 |
5.824 |
|
|
TOTAL |
29589.531 |
24310.614 |
21366.243 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
391.107 |
376.334 |
305.608 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
31.848 |
32.890 |
35.203 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
359.259 |
343.444 |
270.405 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
29.051 |
28.248 |
29.009 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
330.208 |
315.196 |
241.396 |
|
|
|
|
|
|
|
Less |
TAX |
205.697 |
111.004 |
82.775 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
124.511 |
204.192 |
158.621 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1377.941 |
1173.749 |
1015.128 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1502.452 |
1377.941 |
1173.749 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Gross Remittance from
W.U. |
130486.615 |
158785.300 |
153881.000 |
|
|
Tour Packaging Business |
15.623 |
8.146 |
14.300 |
|
|
TOTAL EARNINGS |
130502.238 |
158793.446 |
153895.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
121.12 |
198.63 |
154.3 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.334 |
39.920 |
16.310 |
|
Cash generated from operations |
451.486 |
338.972 |
858.013 |
|
Net cash flows from (used in) operating activity |
247.948 |
226.525 |
1083.444 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3RD
Quarter |
|
Net Sales |
9299.200 |
10186.000 |
12051.200 |
|
Total Expenditure |
9238.000 |
10118.400 |
12033.700 |
|
PBIDT (Excl OI) |
61.200 |
67.600 |
17.500 |
|
Other Income |
21.300 |
13.800 |
67.600 |
|
Operating Profit |
82.500 |
81.400 |
85.100 |
|
Interest |
5.100 |
5.100 |
0.300 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
77.400 |
76.300 |
84.800 |
|
Depreciation |
7.100 |
8.300 |
8.000 |
|
Profit Before Tax |
70.300 |
68.000 |
76.800 |
|
Tax |
27.300 |
19.900 |
23.900 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
43.000 |
48.100 |
52.900 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
43.000 |
48.100 |
52.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
4.22 |
6.35 |
8.33 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
86.43 |
57.50 |
43.81 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
3.41 |
4.59 |
6.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
7.59 |
11.35 |
10.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.76 |
0.73 |
0.74 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.34 |
0.37 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.12 |
0.17 |
0.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.51 |
0.50 |
0.55 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.34 |
0.37 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
12.28 |
11.44 |
8.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.42 |
0.83 |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.41 |
9.47 |
8.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
8.20 |
14.66 |
13.34 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.22 |
2.25 |
2.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.16 |
2.20 |
2.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.66 |
0.65 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
17.31 |
23.25 |
20.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.22 |
2.25 |
2.06 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 5144.95/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.280 |
10.280 |
10.280 |
|
Reserves & Surplus |
1178.789 |
1382.981 |
1507.492 |
|
Net
worth |
1189.069 |
1393.261 |
1517.772 |
|
|
|
|
|
|
long-term borrowings |
102.207 |
66.862 |
3.978 |
|
Short term borrowings |
88.931 |
132.215 |
167.676 |
|
Current maturities of
long-term debts |
16.310 |
39.920 |
6.334 |
|
Total
borrowings |
207.448 |
238.997 |
177.988 |
|
Debt/Equity
ratio |
0.174 |
0.172 |
0.117 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
21637.078 |
24635.504 |
29926.120 |
|
|
|
13.858 |
21.476 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
21637.078 |
24635.504 |
29926.120 |
|
Profit (Loss) |
158.621 |
204.192 |
124.511 |
|
|
0.73% |
0.83% |
0.42% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.280 |
10.280 |
|
(b) Reserves & Surplus |
|
1507.142 |
1376.638 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1517.422 |
1386.918 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.978 |
66.862 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
3.242 |
3.337 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
7.220 |
70.199 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
167.676 |
132.215 |
|
(b) Trade
payables |
|
266.456 |
290.520 |
|
(c) Other
current liabilities |
|
195.980 |
150.024 |
|
(d) Short-term
provisions |
|
153.786 |
152.941 |
|
Total Current
Liabilities (4) |
|
783.898 |
725.700 |
|
|
|
|
|
|
TOTAL |
|
2308.540 |
2182.817 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
504.516 |
504.364 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
10.583 |
10.428 |
|
(iv)
Intangible assets under development |
|
28.462 |
34.900 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
9.947 |
12.347 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
21.571 |
29.472 |
|
Total Non-Current
Assets |
|
575.079 |
591.511 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
84.193 |
50.959 |
|
(b)
Inventories |
|
51.542 |
33.152 |
|
(c) Trade
receivables |
|
346.238 |
428.432 |
|
(d) Cash
and cash equivalents |
|
933.145 |
767.964 |
|
(e)
Short-term loans and advances |
|
318.343 |
310.799 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1733.461 |
1591.306 |
|
|
|
|
|
|
TOTAL |
|
2308.540 |
2182.817 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
29943.544 |
24658.973 |
|
|
Other Income |
|
54.518 |
51.444 |
|
|
TOTAL |
|
29998.062 |
24710.417 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
28500.118 |
23111.079 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(18.390) |
(4.573) |
|
|
Employees benefits
expense |
|
335.375 |
334.727 |
|
|
Direct Expenses |
|
553.554 |
587.134 |
|
|
Office &
Administrative Expenses |
|
176.571 |
215.973 |
|
|
Sales Promotion Expenses |
|
43.348 |
78.619 |
|
|
Corporate Social
Responsibility Expenses |
|
5.746 |
5.116 |
|
|
EXCEPTIONAL ITEMS |
|
2.667 |
0.000 |
|
|
Other expenses |
|
6.288 |
5.947 |
|
|
TOTAL |
|
29605.277 |
24334.022 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
392.785 |
376.395 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
31.888 |
33.047 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
360.897 |
343.348 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
29.495 |
28.943 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
331.402 |
314.405 |
|
|
|
|
|
|
|
Less |
TAX |
|
205.938 |
110.731 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
125.464 |
203.674 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
122.05 |
198.13 |
LEGALS
FILE
HIGH COURT
|
MS PAUL MERCHANTS LTD |
|
high court-Punjab |
|
Case no:265 V UT-CHANDIGARH CRM-M- |
|
Case status:Pending |
|
Judge:HON'BLE MR. JUSTICE RAMENDRA JAIN |
|
Date:2017-10-27 |
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 |
Yes |
|
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY’S
AFFAIRS
The Company operates principally in three business verticals International Money Transfer, Foreign Exchange and Tours & Travels. During the year, Gross revenue from International Money Transfer activities stood at INR 1020.700 million, from Foreign Exchange Services stood at INR 28515.200 million and from Tours & Travel Segment stood at INR 414.200 million. The Profit before tax stood at INR 330.208 Million and Profit after tax stood at INR 124.511 Million.
MANAGEMENT DISCUSSION
& ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENTS
INTERNATIONAL MONEY
TRANSFER
India, while retaining its top spot as the world’s largest remittance recipient, saw a decline in remittance inflows amounting to $62.7 billion in 2016 from $68.9 billion in 2015. The World Bank, in its latest report, said that the remittances to developing countries fell for a second consecutive year in 2016, a trend not seen in three decades. This was attributable mainly to the drop in oil prices and fiscal tightening in the oil producing countries in the West Asia, which has a significant Indian migrant population accounting for a large chunk of remittances.
In the latest edition of the migration and development brief, the bank estimates that officially recorded remittances to developing countries amounted to $429 billion in 2016, a decline of 2.4% over $440 billion in 2015. Global remittances, which include flows to high-income countries, contracted by 1.2% to $575 billion in 2016, from $582 billion in 2015.
Low oil prices and weak economic growth in the Gulf Cooperation Council (GCC) countries and the Russian Federation are taking a toll on remittance flows to South Asia and Central Asia, while weak growth in Europe has reduced flows to North Africa and Sub-Saharan Africa, the report says. The decline in remittances, when valued in US dollars, was made worse by a weaker euro, British pound and Russian Ruble against the US dollar. As a result, many large remittance-receiving countries saw sharp declines in remittance flows.
India was the largest remittance recipient followed closely by China ($61 billion), the Philippines ($29.9 billion), Mexico ($28.5 billion) and Pakistan ($19.8 billion), making up the top five. As a share of the gross domestic product (GDP), however, the top five recipients were Kyrgyz Republic, Nepal, Liberia, Haiti, and Tonga.
According to the report, remittance to the South Asian region declined by 6.4% in 2016 in the face of lower oil prices and fiscal tightening in the GCC countries. “Nationalization” policies aimed at lowering the unemployment rate of nationals have slowed employment of foreign workers, impacting remittance flows to South Asia, the report further said.
“Remittances to India declined by 8.9% in 2016, to $62.7 billion. In Bangladesh, remittances declined by an estimated 11.1% in 2016,” the report said, adding that in Pakistan, the 12% growth witnessed in 2015 moderated to an estimated 2.8% in 2016. Nepal experienced unusually high growth in remittances, at 14.3% in 2015, due to migrants sending financial assistance home after the earthquake. In 2016, remittance flows to Nepal declined by an estimated 6.7% from the previous year’s high level. In Sri Lanka, remittance growth was estimated at 3.9% in 2016, the report said. Remittances accounted for 2.9% of India’s GDP in 2016. It was highest for Nepal with 29.7% of the GDP, followed by Sri Lanka (8.8%), Pakistan (6.9%), and Bangladesh (6%).
While for India, remittances were not large as a proportion of the GDP as GDP as a base is quite large, however, there were subnational variations in the impact of remittances. For Kerala, remittances were estimated at 36.3% of the net state domestic product and contributed significantly to household consumption.
As per the World Bank estimates, remittance growth in South Asia is projected to remain muted, because of low growth and fiscal consolidation in GCC countries. “An increase of only 2.0% is expected in 2017. Bangladesh’s remittance growth in 2017 is forecast at 2.4%, India’s at 1.9%, Pakistan’s at 1.4%, and Sri Lanka’s at 1.3%. According to the World Bank, the economic slowdown in Saudi Arabia and Kuwait has adversely impacted Indian migrant workers in those countries.
REMITTANCE MARKET IN
INDIA
Cross-border movement of people boosts global productivity and countries which prioritize integration of migrants stand to gain, as the natural corollary of migrant workforce getting assimilated in the economy of any country is addition of productivity, cerebral boost and supplemental value addition in every walk of life.
The economic and social impact of migration is a matter of heated political debate in developed nations. According to the report—‘People on the move: Global Migration’s Impact and Opportunity’—more than 90% of the world’s 247 million cross-border migrants move voluntarily for economic reasons, contributing 40% to 80% of Labour force growth in the top destination countries. The remaining 10% are refugees or asylum seekers.
Migrants contributed roughly $6.7 trillion or 9.4% of global GDP in 2015, about $3 trillion more than they would have added in their own countries. Most of these gains are concentrated in regions like North America and Western Europe, which together accounted for $4.8 trillion, the report said.
India tops as the country of origin of migrants, contributing 16 million of the 247 million migrants globally, while the US is the top destination with a migrant population of 47 million, data from the report shows. From India, 8.2 million migrants have moved to the Gulf countries.
While costs of managing entry are usually less than 0.2% of GDP across major destinations, the migration does not harm native employment and wages, though there can be short-term negative effects. However, a study of the 18 major destination countries has revealed that not a single one of these countries has holistically addressed all the three aspects—economic, social and civic—of integrating migrants. Normally, immigrants, even though they earn higher wages by moving, earn 20-30% less than comparable native workers. It is a forgone conclusion that on this principle, narrowing the wage gap to 5-10% would translate into higher global output.
“Making a clear improvement in the way immigrants integrate into destination countries—not only in terms of employment but also in areas such as education, housing, health, and community engagement—could add $800 billion to $1 trillion to the global economy annually and has the potential of boosting cross border remittances .
TOURS AND TRAVELS
The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains and places of natural beauty spread across the country. Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country. India is a large market for travel and tourism. It offers a diverse portfolio of niche tourism products - cruises, adventure, medical, wellness, sports, MICE, eco-tourism, film, rural and religious tourism. India has been recognised as a destination for spiritual tourism for domestic and international tourists. The launch of several branding and marketing initiatives by the Government of India such as Incredible India and Athiti Devo Bhava have provided a focused impetus to growth. The Indian government has also released a fresh category of visa - the medical visa or M visa, to encourage medical tourism in the country. The Government has also been making serious efforts to boost investments in tourism sector. In the hotel and tourism sector, 100 per cent FDI is allowed through the automatic route. A five-year tax holiday has been offered for 2, 3 and 4 star category hotels located around UNESCO World Heritage sites (except Delhi and Mumbai).
OUTLOOK
The official remittances stood at $62.7 billion in 2016 making India the world’s largest remittances recipient. This represents a decrease of 8.9 % over a comparative figure of $68.9 billion in 2015, but remittances to developing countries are expected to recover this year, growing by an estimated 3.3 percent to $444 billion in 2017.
Even as it is expected that the INR will remain strong in the next 1-2 months, it is expected that it will undergo some correction during the rest of 2017-18. The biggest industry trend is the move to technology and automation to “electronify” the currency market. Today, nearly 70 percent of FX trades globally are done via electronic trading, according to industry sources. In India however, the reverse rings louder with majority of the market still on voice trading and confirmation. In the days to come, this trend in India will also catch up with people and ultimately, will result in higher turnover in this segment.
India is on a high growth path and with tourism-friendly policies initiated by the government, the Company is optimistic that this will continue in the coming years coupled with sustained delivery on ground. The UNWTO also expects the sector to provide 296 million jobs globally by 2019. Recent tourism statistics reveal that both domestic and foreign tourism are on a robust growth path. India's rising middle class and increasing disposable incomes have also contributed to this continued growth in domestic and outbound tourism.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G49280712 |
100112480 |
HDFC BANK LIMITED |
02/05/2017 |
- |
- |
200000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G33739723 |
100072980 |
KOTAK MAHINDRA PRIME LIMITED |
04/01/2017 |
- |
- |
1550000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
3 |
G27654045 |
100062873 |
KOTAK MAHINDRA PRIME LIMITED |
03/11/2016 |
- |
- |
1000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
4 |
G27660406 |
100062877 |
KOTAK MAHINDRA PRIME LIMITED |
03/11/2016 |
- |
- |
2982000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
5 |
G07715972 |
100039287 |
Axis Bank Limited |
03/05/2016 |
- |
- |
45000000.0 |
SECTOR 35 BCHANDIGARHCH160035IN |
|
6 |
C78907862 |
10619881 |
HDFC BANK LIMITED |
10/12/2015 |
- |
- |
45000000.0 |
PLOT NO. 28, IND AREA PHASE 1CHANDIGARHCH160002IN |
|
7 |
C77723906 |
10617366 |
HDFC BANK LIMITED |
19/11/2015 |
- |
- |
100000000.0 |
PLOT NO. 28, IND AREA PHASE 1CHANDIGARHCH160002IN |
|
8 |
C76618867 |
10614871 |
BANK OF BARODA |
06/11/2015 |
- |
- |
7600000.0 |
SCO 62, 63Bank Square 17 BCHANDIGARHCH160017IN |
|
9 |
C69002707 |
10600281 |
KOTAK MAHINDRA PRIME LIMITED |
03/09/2015 |
- |
- |
3000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
10 |
C69002046 |
10600284 |
KOTAK MAHINDRA PRIME LIMITED |
31/08/2015 |
- |
- |
1200000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims against company not acknowledged as Debt |
14.280 |
13.728 |
|
Bank Guarantees |
3.217 |
12.500 |
|
Service Tax Demand Notice pending Departmental Appeal with High Court (excl. Interest) |
33.542 |
33.542 |
|
Corporate Guarantee in Respect of JV in Malaysia |
129.660 |
132.700 |
|
Capital Commitments |
0.000 |
1.433 |
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE
MONTHS DECEMBER 31, 2017
[INR
IN MILLION]
|
PARTICULARS |
3 Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from operations |
12051.200 |
9967.900 |
31088.600 |
|
Other Operating Income |
67.600 |
13.800 |
102.600 |
|
Total income from operations (net) |
12118.700 |
9981.700 |
31191.200 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
|
|
|
|
Purchases of stock-in trade |
11907.100 |
9841.700 |
30686.000 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
4.900 |
(1.800) |
(9.600) |
|
Employee benefits expense |
35.700 |
36.000 |
98.700 |
|
Depreciation and Amortization Expenses |
8.000 |
7.400 |
21.400 |
|
Other Expenses |
86.000 |
61.200 |
243.800 |
|
Finance Costs |
0.300 |
1.800 |
0.700 |
|
Total expenses |
12042.000 |
9946.300 |
31041.000 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items |
76.700 |
35.400 |
150.200 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
76.700 |
35.400 |
150.200 |
|
Tax expenses |
23.900 |
8.600 |
48.700 |
|
Net Profit / (Loss) from ordinary activities after tax |
52.800 |
26.800 |
101.500 |
|
Net Profit / (Loss) Discontinued Operations |
2517.800 |
32.600 |
2582.600 |
|
Tax Expenses of Discontinued Operations |
575.300 |
11.300 |
597.700 |
|
Net Profit / (Loss) from Discounting Operations |
1942.500 |
21.300 |
1984.900 |
|
Net Profit / (Loss) for the period |
1995.300 |
48.100 |
2086.500 |
|
Comprehensive Income |
(1.200) |
0.900 |
0.300 |
|
Net Profit/ (Loss) after taxes, minority interest and
share of profit/(loss) of associates |
1994.100 |
49.000 |
2086.800 |
|
|
|
|
|
|
Earnings per share (Counting Operations) |
|
|
|
|
(a) Basic |
51.36 |
26.03 |
98.76 |
|
(b) Diluted |
51.36 |
26.03 |
98.76 |
|
|
|
|
|
|
Earnings per share (Discounting Operations) |
|
|
|
|
(a) Basic |
1889.61 |
20.76 |
1930.87 |
|
(b) Diluted |
1889.61 |
20.76 |
1930.87 |
|
|
|
|
|
|
Earnings per share (Counting Operations and Discounting Operations) |
|
|
|
|
(a) Basic |
1940.97 |
46.79 |
2029.63 |
|
(b) Diluted |
1940.97 |
46.79 |
2029.63 |
Note:
- The Company has adopted Ind-As w.e.f. 01.04.2017. This Statement of Financial Results and Segment Results have been prepared in accordance with Indian Accounting Standards (Ind As) prescribed under the Companies Act, 2013 and Companies (Indian Accounting Standards) Rules, 2015 (Ind-As) and SEBI circular no. CIR/CFD/FAC/62/2016 dated 05.07.2016.
- The Statutory Auditors of the Company have carried out the Limited Review of results for the quarter and nine months ended 31.12.2017, on which they have expressed unmodified opinion. The Financial results for the corresponding quarter ended 31.12.2016 and nine months ended on 31.12.2016 have been re-stated to make them Ind-AS Compliant and have been subjected to limited review. Further, the figures for the year ended 31.03.2017 have also been re-stated and subjected to audit.
- During the Quarter, Company sold its MTSS Business in India to the First Money Express Private Limited (YMEPL). The effective Closing date for the transaction was 31.10.2017. Post that the Company has been undertaking MTSS business in India for and on behalf of YMEPL and a Cooperation Agreement in this regard has been executed.
- Segment reporting is done in accordance with Ind-AS-108 and Segment wise reports are enclosed. IMT segment represents the Discontinued operations. Accordingly, the figures of the corresponding previous quarters/year to date figures have been recast to make them comparable.
- At Serial No. 15 above, Profit from discontinued operations for quarter ended 31.12.2017 includes a sum of INR 2556.700 Million on account of gain on sale of MTSS business and a sum of INR 38.900 Million on account of operational loss from discontinued operations. Similarly, Year to date figures for 31.12.2017 figure includes a sum of INR 2556.700 Million on account of gain on sale of MTSS business and Operational Profits of INR 25.900 Million.
- Previous period Figures have been regrouped and rearranged wherever necessary to make is comparable.
- The above results along with Segment wise results for the Quarter and Nine months ended 31.12.2017 were reviewed & recommended by the Audit Committee in its meeting held on 12.02.2018.
- The above results along with Segment wise results for the Quarter and Nine months ended 31.12.2017 have been duly approved and taken on record by the Board of Directors of the Company in its meeting held on today i.e. 14th Day of February, 2018.
- The Company does not have any exceptional or extraordinary items to report for the above period.
- In terms of Regulation 33
(2) (a) of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Chief Financial
Officer
and Managing Director have certified that the financial results do not contain any false or misleading statement or figures and do not omit any material fact which may make the statements or figures contained therein misleading. - Apart from adoption of IND AS, during the Period under review, there are no other changes in the accounting policies of the company. However, re-measurement Actuarial Loss/gain has been re-classified as Other Comprehensive Income/Expense in accordance with IND AS-19-Employee Benefits for the previous year ended 31.03.2017.However this reclassification does not have any impact on Reserves of the company.
- The full format of the quarterly Results are available on the website of BSE Limited http://www.bseindia.com and on the website of the company
- Reconciliation of Net Profit/Loss reported in accordance with India GAAP with respect to the corresponding Quarter and Nine months ended 31.12.2016
SEGMENT RESULTS QUARTER ENDED AND NINE MONTHS DECEMBER 31, 2017
|
Particulars |
3 Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
|
1. Segment Revenue |
|
|
|
|
Forex |
11951.900 |
9869.000 |
30759.600 |
|
International Money Transfer |
76.100 |
218.200 |
523.900 |
|
Travel |
103.000 |
104.600 |
342.000 |
|
Others |
4.000 |
2.300 |
10.200 |
|
Total |
12135.000 |
10194.100 |
31635.700 |
|
Less : Inter Segment Revenue |
0.000 |
-0.300 |
0.000 |
|
Net Sales |
12135.000 |
10194.400 |
31635.700 |
|
|
|
|
|
|
2. Segment Result |
|
|
|
|
Profit before tax and
interest from each segment |
|
|
|
|
Forex |
28.900 |
26.100 |
75.700 |
|
International Money Transfer |
(38.800) |
32.600 |
26.000 |
|
Travel |
4.100 |
6.300 |
15.400 |
|
Others |
4.000 |
2.300 |
10.200 |
|
Total |
(1.700) |
67.300 |
127.300 |
|
Less : Interest |
3.000 |
5.100 |
13.300 |
|
Unallowable |
17.200 |
0.000 |
17.200 |
|
Add: Unallowable |
59.800 |
5.800 |
79.400 |
|
Profit from ordinary
activities before tax |
37.900 |
68.000 |
176.200 |
|
|
|
|
|
|
3. Segment Assets |
|
|
|
|
Forex |
190.800 |
739.900 |
190.800 |
|
International Money Transfer |
0.000 |
1642.100 |
0.000 |
|
Travel |
23.700 |
24.600 |
2.700 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Unallowable |
5157.300 |
345.700 |
5157.300 |
|
Total |
5371.800 |
2752.300 |
5350.800 |
|
4. Segment Liabilities |
|
|
|
|
Forex |
100.500 |
478.200 |
100.500 |
|
International Money Transfer |
0.000 |
848.700 |
0.000 |
|
Travel |
15.400 |
11.300 |
15.400 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Unallowable |
0.000 |
0.000 |
0.000 |
|
Total |
115.900 |
1338.200 |
115.900 |
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Servers & Networks
- Computers & Desktop
- Motor Cars
- Motor Cycles
- Office Equipments
- Electrical Installations & Equipments
- Leasehold Improvements
- Plant and Machinery
- Vehicle
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.61 |
|
|
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.