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%20LIMITED%20-%20516444_MIRA%2025-Jun-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
516444 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRAVEL CORPORATION (INDIA) LIMITED (w.e.f.
26.02.2007) |
|
|
|
|
Formerly Known
As : |
TRAVEL CORPORATION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
324, Dr. D.N. Road, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-61603333 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
19.07.1961 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63040MH1961PLC012067 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 21.654 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6856C |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAACT6856C2ZH (Tamilnadu) 32AAACT6856C2ZJ (Kerala) 29AAACT6856C2Z6 (Karnataka) 09AAACT6856C1Z9 (Uttar Pradesh) 06AAACT6856C1ZF (Haryana) |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Travel and Tourism business and working as Travel agent and Tour operator. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is subsidiary of “Thomas Cook (India) Limited” and was incorporated
in the year 1961. It is having good track records. For the financial year 2017, the company has increased its revenue
from operation as compared to previous year and maintained average profit
margin of 1.20%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating derives strength from its strong holding company
support, well established track records of business operation and marked
position and decent improvement in the revenue. However, rating strength is partially offset by susceptibility of
travel business to geo – political risks and intense competition. Trade relations are reported as fair. Business is active. Payments are
reported to be regular. The company can be considered for business dealings at usual trade
terms and condition. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating (AA-) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
03.05.2018 |
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 25.06.2018
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 DENIED
Management non-cooperative (Tel No.: 91-22-61603333/ 67401000)
LOCATIONS
|
Registered Office : |
324, Dr. D.N. Road, Fort, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-61603333 |
|
Fax No.: |
91-22-66091595 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
B-Wing, 13th Floor, Marathon Futurex, N.M. Joshi Marg, Lowe
Parel, Mumbai – 400013, Maharashtra, India |
|
|
|
|
Corporate Office : |
1st Floor, Chander Mukhi, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22021881/67401000 |
|
Fax No.: |
91-22-22029424/22883664 |
|
E-Mail : |
|
|
|
|
|
Branch Address: |
Tower B, Delta Square, M.G. Road, Sector 25, Gurgaon - 122001, Haryana, India Also Located At:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Dipak Deva |
|
Designation : |
Managing Director |
|
Address : |
C-1/45, Safdarjung Development Area, New Delhi – 110016,
India |
|
Date of Birth/Age : |
10.01.1956 |
|
Qualification |
Graduate in Commerce (B.Com) |
|
Date of Appointment : |
27.01.2016 |
|
DIN No.: |
02030005 |
|
|
|
|
Name : |
Mr. Madhavan Karunakaran Menon |
|
Designation : |
Director |
|
Address : |
Flat No. 702, Supreme Pearl 17th Road, Khar (West), Mumbai
– 400052, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1955 |
|
Qualification |
B.A. (Business) - George Washington University, USA, MBA (Fin. & Intl. Business) – George Washington, University, USA |
|
Date of Appointment : |
28.10.2009 |
|
DIN No.: |
00008542 |
|
|
|
|
Name : |
Mr. Sunil Behari Mathur |
|
Designation : |
Director |
|
Address : |
Plot No. 10, A-10 Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
11.10.1944 |
|
Qualification |
Chartered Accountant |
|
Date of Appointment : |
21.07.2016 |
|
DIN No.: |
00013239 |
|
|
|
|
Name : |
Mr. Zohra Chatterji |
|
Designation : |
Director |
|
Address : |
Di-111, Chanakyapuri, New Delhi – 110023, India |
|
Date of Birth/Age : |
20.07.1954 |
|
Qualification |
IAS |
|
Date of Appointment : |
21.07.2016 |
|
DIN No.: |
01382511 |
KEY EXECUTIVES
|
Name : |
Parikh and Associates |
|
Designation : |
Company Secretary |
|
Address : |
111, 11th Floor, Sai Dwar CHS Limited, Sab TV Lane, Opposite
Laxmi Industries Estate, Off Link Road, Above Shabari Restaurant, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No: |
91-22-26301232/ 26301233/ 26301240 |
|
Email: |
|
|
|
|
|
Name : |
Sanjay Srichand Shroff |
|
Designation : |
Chief Finance Officer |
|
Address : |
1404, Tower 7, The Palms, Gurugram- 122001, Haryana, India |
|
Date of Appointment : |
01.08.2017 |
|
|
AASPS4346P |
|
|
|
|
Name : |
Ritu Yatendra Verma |
|
Designation : |
Company Secretary |
|
Address : |
4-A-21, Rustomjee Regency, J. S. Road, Dahisar (West), Mumbai-400068,
Maharashtra, India |
|
Date of Appointment : |
01.08.2017 |
|
PAN No.: |
AYIPV3029Q |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Thomas Cook India Limited, India |
|
1576691 |
|
Sterling Holiday Resorts Limited, India (Formerly known as Thomas Cook Insurance Services (India) Limited |
|
73234 |
|
SOTC Travel Services Private Limited |
|
438144 |
|
Distant Frontiers Tours Private Limited (Formerly known as Thomas Cook
Insurance Services (India) Limited), India |
|
77320 |
|
Madhavan Menon |
|
1 |
|
Debasis Nandy |
|
1 |
|
Rambhau R. Kenkare |
|
1 |
|
Mahesh Iyer |
|
1 |
|
Abraham Alapatt |
|
1 |
|
Rajeev Kale |
|
1 |
|
Total |
|
2165395 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.07.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20516444_MIRA%2025-Jun-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Travel and Tourism business and working as Travel agent and Tour operator. (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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Exports : |
Not Available |
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Imports : |
Not Available |
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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 denied by the management |
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Bankers : |
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||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
Lodha Excellus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai- 400011, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB7357B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Thomas Cook (India) Limited - [L63040MH1978PLC020717] |
|
|
|
|
Ultimate Holding
company: |
Fairfax Financial Holding Limited, Canada |
|
|
|
|
Subsidiary company: |
|
|
|
|
|
Fellow
Subsidiaries: |
|
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2165395 |
Equity Shares |
INR 10/- each |
INR 21.654 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
21.654 |
21.654 |
15.767 |
|
(b) Reserves & Surplus |
1697.458 |
1667.650 |
602.148 |
|
(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) |
1719.112 |
1689.304 |
617.915 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
330.000 |
450.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
8.780 |
0.000 |
22.026 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
6.594 |
5.456 |
|
Total Non-current
Liabilities (3) |
338.780 |
456.594 |
27.482 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
30.939 |
15.096 |
|
(b) Trade
payables |
967.823 |
469.696 |
328.502 |
|
(c) Other
current liabilities |
174.248 |
170.980 |
191.506 |
|
(d) Short-term
provisions |
241.548 |
227.736 |
0.000 |
|
Total Current
Liabilities (4) |
1383.619 |
899.351 |
535.104 |
|
|
|
|
|
|
TOTAL |
3441.511 |
3045.249 |
1180.501 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
256.899 |
551.545 |
237.114 |
|
(ii) Intangible
Assets |
2.263 |
6.723 |
11.427 |
|
(iii)
Capital work-in-progress |
2.645 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2169.096 |
1891.899 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
4.776 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
55.989 |
|
(e) Other
Non-current assets |
292.900 |
270.015 |
0.000 |
|
Total Non-Current
Assets |
2723.803 |
2724.958 |
305.030 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
498.629 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
296.649 |
214.834 |
191.890 |
|
(d) Cash
and cash equivalents |
204.818 |
29.548 |
27.076 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
118.608 |
|
(f) Other
current assets |
216.241 |
75.909 |
39.268 |
|
Total
Current Assets |
717.708 |
320.291 |
875.471 |
|
|
|
|
|
|
TOTAL |
3441.511 |
3045.249 |
1180.501 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1922.189 |
1579.195 |
519.115 |
|
|
Other Income |
166.033 |
198.824 |
28.162 |
|
|
TOTAL |
2088.222 |
1778.019 |
547.277 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Expenditure on
production, transportation and other expenditure |
1761.524 |
1318.411 |
0.000 |
|
|
Employees benefits
expense |
85.706 |
180.126 |
261.379 |
|
|
Other expenses |
100.888 |
157.576 |
201.794 |
|
|
TOTAL |
1948.118 |
1656.113 |
463.173 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
140.104 |
121.906 |
84.104 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
69.771 |
34.645 |
5.038 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
70.333 |
87.261 |
79.066 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
27.318 |
31.882 |
20.721 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
43.015 |
55.379 |
58.345 |
|
|
|
|
|
|
|
Less |
TAX |
19.822 |
6.173 |
22.208 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
23.193 |
49.206 |
36.137 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
456.372 |
501.361 |
541.205 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend on
Equity |
0.000 |
94.195 |
63.068 |
|
|
Tax on Dividend |
0.000 |
0.000 |
12.913 |
|
|
Total (M) |
0.000 |
94.195 |
75.981 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
479.565 |
456.372 |
501.361 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1872.847 |
1399.758 |
1937.210 |
|
|
TOTAL EARNINGS |
1872.847 |
1399.758 |
1937.210 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
10.71 |
25.38 |
22.92 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
120.000 |
120.000 |
0.000 |
|
Net cash flows from (used in) operations |
364.576 |
39.658 |
(127.638) |
|
Net cash flows from (used in) operating activities |
348.443 |
2.807 |
(127.926) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
56.33 |
49.65 |
134.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.48 |
7.35 |
2.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.54 |
0.22 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.48 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.26 |
0.36 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.80 |
0.53 |
0.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.15 |
0.33 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.01 |
3.52 |
16.69 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.21 |
3.12 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.67 |
1.62 |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.35 |
2.91 |
5.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.52 |
0.36 |
1.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.52 |
0.36 |
1.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.50 |
0.55 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
20.78 |
27.75 |
0.96 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.52 |
0.36 |
1.64 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
15.767 |
21.654 |
21.654 |
|
Reserves & Surplus |
602.148 |
1667.650 |
1697.458 |
|
Net
worth |
617.915 |
1689.304 |
1719.112 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
450.000 |
330.000 |
|
Short term borrowings |
15.096 |
30.939 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
120.000 |
120.000 |
|
Total
borrowings |
15.096 |
600.939 |
450.000 |
|
Debt/Equity
ratio |
0.024 |
0.356 |
0.262 |
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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 |
519.115 |
1579.195 |
1922.189 |
|
|
|
204.209 |
21.720 |
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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 |
519.115 |
1579.195 |
1922.189 |
|
Profit /(Loss) |
36.137 |
49.206 |
23.193 |
|
|
6.96% |
3.12% |
1.21% |
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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 |
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 |
OPERATIONS:
During the financial year, the Company reported a net profit after tax of INR 23.193 million as compared to net profit after tax of INR 49.206 million for the year ended 31st March, 2016 (“Previous Period”).
STATE OF COMPANY’S
AFFAIRS:
The gross revenue and other income for the financial year is INR 2088.222 million as against INR 1778.020 million for the previous period, registering an increase of approx. 17%. The profit before tax is INR 43.015 million and the profit after tax is INR 23.193 million for the current year as compared with the profit before tax was INR 55.379 million and profit after tax was INR 49.206 million for the previous year.
COMPANY OVERVIEW
Travel Corporation (India) Limited is engaged in Travel and Tourism business and working as Travel agent and Tour operator. The Company mainly operates in Inbound Tours. The Company is held by Thomas Cook (India) Limited (72.81%), SOTC Travel Services Private Limited (Formerly known as Kuoni Travel (India) Private Limited) (20.23%), Sterling Holiday Resorts Limited (erstwhile Thomas Cook Insurance Services (India) Ltd) (3.38%) and Distant Frontiers Tours Private Limited (3.57%).
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans
from banks |
0.000 |
30.939 |
|
Total |
0.000 |
30.939 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B69196947 |
90242035 |
BNP Paribas |
30/11/1994 |
31/05/2007 |
26/02/2013 |
125000000.0 |
French Bank Building,62, Homji Street, Fort,MumbaiMH400001IN |
|
2 |
B64805955 |
90241694 |
KOTAK MAHINDRA BANK LTD |
19/12/2005 |
19/12/2005 |
30/12/2009 |
6535000.0 |
36-38 A,NARIMAN BHAVAN227 NARIMAN POINTMUMBAIMH400021IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Taxes that may arise in respect of which the Company / the Income-tax Department is in appeal (in respect of some earlier years, appeals covering the same issues have been decided in favor of the Company by the appellate authorities) |
146.175 |
156.186 |
|
Service tax that may arise in respect of which the Service Tax Department is in appeal (in respect of some earlier years, appeals covering the same issues have been decided in favor of the Company by the appellate authorities) |
0.527 |
0.527 |
FIXED ASSETS:
Tangible Assets:
- Office building
- Furniture and fixtures
- Software
- Freehold
Properties
- Furniture and
Fittings
- Computers
- Office
Equipments
- Vehicles
Intangible Assets:
- Computer software
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 records 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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
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 |
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.