|
|
|
MIRA INFORM REPORT
|
Report No. : |
496641 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
FLEMINGO TRAVEL RETAIL LIMITED (w.e.f. 06.12.2017) |
|
|
|
|
Formerly Known
As : |
FLEMINGO TRAVEL RETAIL PRIVATE LIMITED (w.e.f. 17.11.2017) DFS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Chhatrapati Shivaji International Airport, New Terminal 2,
Sahar Road, Andheri (East), Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-68201268 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
15.12.2007 |
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|
|
|
Com. Reg. No.: |
11-176802 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.556 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51410MH2007FLC176802 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GSTIN/UIN: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is
engaged in managing and operating duty free shops in India. [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 : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “Flemingo International (BVI) Limited,” based in British Virgin Island but its ultimate holding is “Flemingo International” based in Dubai and it was incorporated in the year 2007. As per
financials of March 2017, the company has registered decent growth its
revenue but has reported heavy losses. Rating is constrained
on account of company’s weak financial risk profile due to eroded net worth
along with high debt balance sheet and unfavourable gap between its trade
payables to its trade receivables. Payments seem to be slow. In view of aforesaid,
the company can be considered for business dealings at safe and secured 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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
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
31-03-2016.
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 08.03.2018
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 (91-22-68201268)
LOCATIONS
|
Registered Office : |
Chhatrapati Shivaji International Airport, New Terminal 2,
Sahar Road, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-68201268 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Atul Vini Ahuja |
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|
Designation : |
Director |
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|
Address : |
Gulmohar, Lala J.D. Gupta Marg, Devnar, Mumbai -400088,
Maharashtra, India |
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Date of Birth/Age : |
07.08.1962 |
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Qualification: |
Masters in Mechanical Engineering |
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Date of Appointment : |
06.02.2009 |
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DIN No.: |
00015713 |
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Naresh Chandra Sharma |
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|
Designation : |
Director |
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|
Address : |
Flat No. 605, Dosti Blossoms, Dosti Acres Complex, Off.
S.M. Road, Wadala (East) Mumbai - 400037, c |
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|
Date of Appointment : |
19.01.2018 |
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DIN No.: |
00054922 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ayyaswamy Ramamoorthy Choodamani |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
A-6003, Olive Shallots, Sec 16A Sanpada (E), Off Palm
Beach Road, Navi Mumbai -400705, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.06.1958 |
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Qualification: |
Chartered Accountant |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
00103472 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Maya Swaminathan Sinha |
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|
Designation : |
Director |
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|
Address : |
11, 3rd Floor, Vipul 28, BG Kher Road, Malbar Hill, Mumbai
-400006, Maharashtra, India |
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|
Date of Appointment : |
19.01.2018 |
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DIN No.: |
03056226 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Manishi Sanwal |
|
Designation : |
Chief Executive Officer |
|
Address : |
Y-601 Sidhartha Aptartment, M P Enclave, Pitam Pura, New
Delhi- 110034, India |
|
Date of Appointment : |
19.01.2018 |
|
PAN No.: |
AOGPS0327C |
|
|
|
|
Name : |
Mr. Suresh Jayant Nene |
|
Designation : |
Chief Finance Officer |
|
Address : |
13 Shree Niwas B/H Chintamani Karyalay Gangapur Road,
Sawarkar Nagar, Nashik – 422013, Maharashtra, India |
|
Date of Appointment : |
19.01.2018 |
|
PAN No.: |
AAYPN2945D |
|
|
|
|
Name : |
Mr. Suvarna Bhatjiwale |
|
Designation : |
Company Secretary |
|
Address : |
Flat No A 905, Shree Ambika Heritage, Plot No. 1, Sector
01, Kharghar, Raigarh -410210, Maharashtra, India |
|
Date of Appointment : |
19.01.2018 |
|
PAN No.: |
AUWPB2104N |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
DFS Venture Singapore Pte Limited |
|
1 |
|
DFS Singapore Pte Limited |
|
1 |
|
Flemingo Duty Free Shop Mumbai Private Limited |
|
4500 |
|
Flemingo International (BVI) Limited |
|
151126 |
|
Total |
|
155628 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
97.11 |
|
Public/Other than promoters - Body corporate |
2.89 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in managing and operating duty free shops in India. [Registered Activity] |
||||
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Products / Services
: |
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||||
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||||
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Brand Names : |
Not Available |
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||||
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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|
||||
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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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||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
103 Jubilee Niwas Jubilee Abav Baug Yari Road, Versova, Andheri West, Mumbai – 400061, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
|
|
|
|
Jointly controlled
company till Feb 28, 2017: |
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|
|
|
|
Subsidiaries |
|
|
|
|
|
Fellow Subsidiary: |
|
CAPITAL STRUCTURE
After 30.09.2017
Authorised Capital : INR 1000.000 Million
Issued, Subscribed & Paid-up Capital : INR 390.626 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000 |
Equity Shares |
INR 10/- each |
INR 1.750 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155628 |
Equity Shares |
INR 10/- each |
INR 1.556Million |
|
|
|
|
|
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 |
1.556 |
1.556 |
1.556 |
|
(b) Reserves and Surplus |
(3149.678) |
(2006.856) |
(819.079) |
|
(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) |
(3148.122) |
(2005.300) |
(817.523) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1864.700 |
1872.837 |
1987.237 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
4311.037 |
3065.079 |
1719.418 |
|
(d) long-term
provisions |
14.585 |
17.615 |
15.834 |
|
Total Non-current
Liabilities (3) |
6190.322 |
4955.531 |
3722.489 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
329.796 |
0.000 |
0.000 |
|
(b) Trade
payables |
937.036 |
1101.498 |
872.482 |
|
(c) Other
current liabilities |
428.268 |
296.224 |
267.134 |
|
(d) Short-term
provisions |
22.070 |
8.086 |
8.473 |
|
Total Current
Liabilities (4) |
1717.170 |
1405.808 |
1148.089 |
|
|
|
|
|
|
TOTAL |
4759.370 |
4356.039 |
4053.055 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
488.865 |
628.784 |
761.849 |
|
(ii)
Intangible Assets |
0.019 |
0.040 |
0.061 |
|
(iii) Tangible assets
capital work-in-progress |
5.175 |
34.227 |
2.975 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2614.190 |
2660.840 |
2340.739 |
|
(e) Other
Non-current assets |
507.871 |
15.478 |
18.300 |
|
Total Non-Current
Assets |
3616.120 |
3339.369 |
3123.924 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
745.559 |
694.792 |
644.074 |
|
(c) Trade
receivables |
9.709 |
9.526 |
4.029 |
|
(d) Cash and
bank balances |
237.533 |
214.912 |
188.967 |
|
(e)
Short-term loans and advances |
81.045 |
24.766 |
25.129 |
|
(f) Other
current assets |
69.404 |
72.674 |
66.932 |
|
Total Current
Assets |
1143.250 |
1016.670 |
929.131 |
|
|
|
|
|
|
TOTAL |
4759.370 |
4356.039 |
4053.055 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5986.828 |
5390.005 |
4182.325 |
|
|
Other Income |
76.959 |
201.597 |
71.378 |
|
|
TOTAL |
6063.787 |
5591.602 |
4253.703 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2614.314 |
2332.768 |
1859.509 |
|
|
Employee benefit expense |
248.376 |
226.388 |
203.678 |
|
|
Other expenses |
3687.635 |
3849.965 |
3586.630 |
|
|
Exceptional items before tax |
244.835 |
0.000 |
0.000 |
|
|
TOTAL |
6795.160 |
6409.121 |
5649.817 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(731.373) |
(817.519) |
(1396.114) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
250.030 |
183.911 |
241.971 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(981.403) |
(1001.430) |
(1638.085) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
168.953 |
186.347 |
112.581 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1150.356) |
(1187.777) |
(1750.666) |
|
|
|
|
|
|
|
Less |
TAX |
(7.534) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1142.822) |
(1187.777) |
(1750.666) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
(3911.528) |
(2723.751) |
(973.085) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(5054.350) |
(3911.528) |
(2723.751) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5986.828 |
5390.005 |
NA |
|
|
TOTAL EARNINGS |
5986.828 |
5390.005 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
2162.889 |
1944.801 |
NA |
|
|
TOTAL IMPORTS |
2162.889 |
1944.801 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(7343.29) |
(7632.16) |
(26335.34) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
335.300 |
232.810 |
219.823 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
433.539 |
454.080 |
(419.869) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
503.704 |
447.448 |
(420.209) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.59 |
0.65 |
0.35 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
616.63 |
565.82 |
1038.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
130.83 |
172.35 |
171.26 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.98) |
(1.18) |
(2.17) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(1.48) |
(1.23) |
(1.83) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.81 |
0.83 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(0.80) |
(1.05) |
(2.70) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(0.55) |
(0.70) |
(1.40) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.16) |
(0.33) |
(0.94) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(2.93) |
(4.45) |
(5.77) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(19.09) |
(22.04) |
(41.86) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(24.01) |
(27.27) |
(43.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
36.30 |
59.23 |
214.14 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.67 |
0.72 |
0.81 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.23 |
0.23 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.66) |
(0.46) |
(0.20) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1625.83 |
1353.24 |
1418.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.67 |
0.72 |
0.81 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
1.556 |
1.556 |
1.556 |
|
Reserves & Surplus |
(819.079) |
(2006.856) |
(3149.678) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(817.523) |
(2005.300) |
(3148.122) |
|
|
|
|
|
|
Long-term borrowings |
1987.237 |
1872.837 |
1864.700 |
|
Short term borrowings |
0.000 |
0.000 |
329.796 |
|
Current maturities of
long-term debts |
219.823 |
232.810 |
335.300 |
|
Total
borrowings |
2207.060 |
2105.647 |
2529.796 |
|
Debt/Equity
ratio |
(2.700) |
(1.050) |
(0.804) |
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 |
4182.325 |
5390.005 |
5986.828 |
|
|
|
28.876 |
11.073 |
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 |
4182.325 |
5390.005 |
5986.828 |
|
Profit/ (Loss) |
(1750.666) |
(1187.777) |
(1142.822) |
|
|
(41.86
%) |
(22.04
%) |
(19.09
%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1.556 |
|
(b) Reserves and Surplus |
|
|
(3151.331) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
(d) Minority interest |
|
|
(0.466) |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
(3149.775) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1864.700 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long-term
liabilities |
|
|
4311.037 |
|
(d) long-term
provisions |
|
|
14.585 |
|
Total Non-current
Liabilities (3) |
|
|
6190.322 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
|
329.796 |
|
(b) Trade
payables |
|
|
1065.243 |
|
(c) Other current
liabilities |
|
|
430.248 |
|
(d) Short-term
provisions |
|
|
23.270 |
|
Total Current
Liabilities (4) |
|
|
1848.557 |
|
|
|
|
|
|
TOTAL |
|
|
4888.638 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
504.764 |
|
(ii)
Intangible Assets |
|
|
0.019 |
|
(iii) Tangible assets
capital work-in-progress |
|
|
6.508 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term loans and advances |
|
|
2623.415 |
|
(e) Other
Non-current assets |
|
|
507.871 |
|
Total Non-Current
Assets |
|
|
3642.577 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
832.341 |
|
(c) Trade
receivables |
|
|
13.321 |
|
(d) Cash and
bank balances |
|
|
246.063 |
|
(e)
Short-term loans and advances |
|
|
84.611 |
|
(f) Other
current assets |
|
|
69.725 |
|
Total
Current Assets |
|
|
1246.061 |
|
|
|
|
|
|
TOTAL |
|
|
4888.638 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
5995.638 |
|
|
Other Income |
|
|
76.577 |
|
|
TOTAL |
|
|
6072.215 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
0.000 |
|
|
Employee benefit expense |
|
|
249.857 |
|
|
Other expenses |
|
|
6310.240 |
|
|
Exceptional items |
|
|
244.835 |
|
|
TOTAL |
|
|
6804.932 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
(732.717) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
250.029 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(982.746) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
170.158 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
(1152.904) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
(7.479) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
(1145.425) |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
|
0.027 |
|
|
|
|
|
|
|
|
Total
profit (loss) for period |
|
|
(1145.398) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
(7360.02) |
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Subject was incorporated on 15 December 2007 and is engaged in managing and operating duty free shops in India.
REVIEW OF OPERATION
During the year, the Company had achieved revenue of INR 5986.828 Million as against INR 5390.005 Million of the previous year. The net loss for the year has been INR 1142.822 Million as against INR 1187.777 Million during the previous financial year. The Directors are continuously looking for avenues for future growth of the Company.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G48104491 |
100108761 |
CITI BANK N.A. |
29/04/2017 |
- |
600000.0 |
FIRST
INTERNATIONAL FINANCIAL CENTREBANDRA KURLA COMPLEX, BANDRA
EASTMUMBAIMH400051IN |
|
2 |
G37708344 |
100081615 |
AXIS TRUSTEE
SERVICES LIMITED |
20/02/2017 |
- |
3880000000.0 |
AXIS HOUSE, BOMBAY
DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
3 |
G37663184 |
10509264 |
ING VYSYA BANK
LIMITED |
18/03/2014 |
06/03/2017 |
3438395000.0 |
NARIAN MANZIL,GROUND
FLOOR,SHOP NO. G1 TO G5,I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,NEW
DELHIDL110001IN |
FIXED ASSETS:
Tangible assets
- Furniture and fixtures
- Vehicles
- Computer equipments
- Leasehold improvements
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 64.96 |
|
|
1 |
INR 90.34 |
|
Euro |
1 |
INR 80.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.