|
|
|
MIRA INFORM REPORT
|
Report No. : |
497208 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E8 - 3016, Level 3, New T2, Chhatrapati Shivaji International Airport,
Andheri East, Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-66859377 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.12.2008 |
|
|
|
|
Com. Reg. No.: |
11-188882 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 552.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63033MH2008FTC188882 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0308074351 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AADCC5379G1ZH |
|
|
|
|
TIN No: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC6502D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC5379G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company provides ground
handling services (representation, traffic, ramp, cargo, flight operations,
bridge mounted services etc.) to foreign airlines, domestic airlines, business
jets and private cargo companies. (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 a Joint Venture of “Celebi Hava Servisi Anonim Sirketi” based in Turkey and “NAS Aviation Services India Private Limited” with 51% and 41% stake respectively. It was incorporated in the year 2008 and is engaged in providing ground handling services (representation, traffic, ramp, cargo, flight operations etc.) to foreign airlines, domestic airlines, business jets and private cargo companies. As per financials of March 2017, the company has registered a growth of 26.76% in its revenue as compared to its previous year’s revenue and has reported good profit margin of 10.99% under review. Rating takes into consideration the company’s satisfactory track record of business operations marked by healthy net worth base along with strong debt coverage indicators and good liquidity position. Rating also takes into account the expertise of the promoters, promoters’ long and established relationship with major International Airlines and benefit it derives from operating at one of India’s largest airports, i.e., Chhatrapati Shivaji International Airport (CSIA), Mumbai. Further, the company has reported earnings per share of INR 4.62 against its face value of INR 10. However, rating strength is partially offset by geographical concentration risk and regulatory risk associated with regards to renewal of concession agreement with Mumbai International Airport Private Limited (MIAL) for ground handling which is valid till 2020. Payments seems to be regular as per commitments. In view of aforesaid, the company can be considered good for business dealings at normal trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
17.04.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating (A2+) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
17.04.2017 |
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 13.03.2018
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 BY
|
Name : |
Mr. Milind |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66859377 |
|
Date : |
10.03.2018 |
LOCATIONS
|
Registered / Corporate Office : |
E8 - 3016, Level 3, New T2, Chhatrapati Shivaji International Airport,
Andheri East, Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-66859377/ 66850925 |
|
Fax No.: |
91-22-66859388 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sahil Sohan Mehta |
|
Designation : |
Director |
|
Address : |
1203, Casa Grande, Tulsi Pipe Road, Lower Parel, Mumbai-400013,
Maharashtra, India |
|
Date of Birth/Age : |
07.09.1976 |
|
Date of Appointment : |
12.12.2008 |
|
PAN No: |
AACPM4366K |
|
Qualification : |
Master of Business Administration from University of Hertfordshire Hertford, England and Bachelor of Commerce from Mumbai University |
|
DIN No: |
348720 |
|
|
|
|
Name : |
Mr. Jungbir Singh |
|
Designation : |
Director |
|
Address : |
A-13, Niti Bagh, New Delhi-110049, India |
|
Date of Birth/Age : |
30.01.1970 |
|
Date of Appointment : |
12.12.2008 |
|
Qualification : |
MBA degree from the Loyola University of Chicago, Chicago USA and Diploma in Corporate Law from Indian Institute of Law, New Delhi and B.Com |
|
DIN No: |
1206815 |
|
|
|
|
Name : |
Mr. Zeynep Candan Cetiner |
|
Designation : |
Director |
|
Address : |
Akat District, Altay Road, 4B/ 1 Besiktas, Istanbul - 34335, Turkey |
|
Date of Birth/Age : |
04.01.1965 |
|
Date of Appointment : |
08.07.2013 |
|
Qualification : |
Degree in Law from Ankara University, Turkey |
|
DIN No: |
2787301 |
|
|
|
|
Name : |
Mr. Atilla Korkmazoglu |
|
Designation : |
Director |
|
Address : |
Osveny Utca 5 - 2, Budakeszi - 2092, Hungary |
|
Date of Birth/Age : |
08/09/1973 |
|
Date of Appointment : |
24.11.2010 |
|
Qualification : |
Graduate in Civil Aviation and Transportation
Management and MBA from Istanbul University, Turkey |
|
DIN No: |
2819438 |
|
|
|
|
Name : |
Mr. Mohamed Galaleldin Mohamed Hassan Saleh |
|
Designation : |
Director |
|
Address : |
Block 5, Building 16, Salmiya, Kuwait - 0000, Kuwait |
|
Date of Birth/Age : |
20/11/1973 |
|
Date of Appointment : |
24.11.2010 |
|
Qualification : |
CPA |
|
DIN No: |
3334606 |
|
|
|
|
Name : |
Mr. Murali Ramachandran |
|
Designation : |
Director |
|
Address : |
D-503, Palms Spring, Golf Course Road, Sector- 54,Gurugram-Gurgaon
122002, Haryana, India |
|
Date of Birth/Age : |
17/08/1969 |
|
Date of Appointment : |
03.02.2016 |
|
Qualification : |
Graduate from Institute of Hotel Management
(National Council) and mastered in Management from the Welcome group
Management Institution |
|
DIN No: |
7050479 |
KEY EXECUTIVES
|
Name : |
Rajit Kesaria and Company |
|
Designation : |
Company Secretary |
|
Address : |
1-A, B Wing, Pawan Palace, 348, Sitladevi Temple Road, Mahim (West), Mumbai-400 016, Maharashtra, India |
|
Mob. No: |
91-9702122860, 8976158849 |
|
Tel. No: |
91-22-2437 3724 |
|
Email: |
|
|
|
|
|
Name : |
Cem Sensoz |
|
Designation : |
Chief Executive Officer |
|
Address : |
Villa No. 126-B, ITC Laburnum Block A, Sushant Lok Phase-I, Gurgaon
122002, Haryana, India |
|
Date of Birth/Age : |
14/07/1971 |
|
Date of Appointment : |
16.01.2015 |
|
PAN No.: |
CHPPS2600Q |
|
|
|
|
Name : |
Mrs. Pooja Bharat Shinde |
|
Designation : |
Company Secretary |
|
Address : |
B-28, Plot No. 503, Janprakalp CHS, Sector - 5, Charkop, Kandivali
(West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
09/03/1989 |
|
Date of Appointment : |
16.03.2015 |
|
Qualification : |
Company Secretary |
|
PAN No.: |
DARPS0465R |
|
|
|
|
|
|
|
Name : |
Mr. Laxman Kumar Prasad |
|
Designation : |
Chief Finance Officer |
|
Address : |
B-504, Acme Amay, Visheswar Road, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Date of Birth/Age : |
10/04/1972 |
|
Date of Appointment : |
21.12.2015 |
|
PAN No.: |
AJPPP7944Q |
|
|
|
|
Name : |
Mr. Milind |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Celebi Hava Servisi Anonim Sirketi, Istanbul |
31464000 |
57.00 |
|
Sovika Aviation Services Private Limited, India |
1104000 |
2.00 |
|
Nas Aviation Services India private Limited, India |
22632000 |
41.00 |
|
Total |
55200000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The Company provides ground
handling services (representation, traffic, ramp, cargo, flight operations,
bridge mounted services etc.) to foreign airlines, domestic airlines,
business jets and private cargo companies. (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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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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 : |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar,
Mumbai - 400028, Maharashtra, India |
|
PAN. No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Celebi Hava Servisi Anonim Sirketi, Turkey |
|
|
|
|
Fellow Subsidiary
Company : |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
INR 10/- each |
INR 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55200000 |
Equity Shares |
INR 10/- each |
INR 552.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
552.000 |
552.000 |
552.000 |
|
(b) Reserves and Surplus |
857.600 |
602.641 |
341.028 |
|
(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) |
1409.600 |
1154.641 |
893.028 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
663.133 |
677.966 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
809.892 |
0.000 |
2.275 |
|
Total Non-current
Liabilities (3) |
1473.025 |
677.966 |
2.275 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.023 |
0.000 |
|
(b) Trade
payables |
28.596 |
41.445 |
35.171 |
|
(c) Other current
liabilities |
464.515 |
371.326 |
100.624 |
|
(d) Short-term
provisions |
10.686 |
30.277 |
7.093 |
|
Total Current
Liabilities (4) |
503.797 |
443.071 |
142.888 |
|
|
|
|
|
|
TOTAL |
3386.422 |
2275.678 |
1038.191 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
512.354 |
626.669 |
356.143 |
|
(ii)
Intangible Assets |
1429.693 |
1.917 |
1.365 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
11.787 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
612.974 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
26.730 |
49.025 |
33.490 |
|
(d)
Long-term loans and advances |
310.216 |
252.320 |
230.035 |
|
(e) Other Non-current
assets |
76.462 |
33.251 |
5.755 |
|
Total Non-Current
Assets |
2355.455 |
1587.943 |
626.788 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
20.291 |
0.000 |
0.000 |
|
(c) Trade
receivables |
424.118 |
312.925 |
185.474 |
|
(d) Cash and
bank balances |
502.964 |
255.795 |
197.658 |
|
(e)
Short-term loans and advances |
75.472 |
111.383 |
28.142 |
|
(f) Other
current assets |
8.122 |
7.632 |
0.129 |
|
Total
Current Assets |
1030.967 |
687.735 |
411.403 |
|
|
|
|
|
|
TOTAL |
3386.422 |
2275.678 |
1038.191 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2318.984 |
1829.430 |
1283.277 |
|
|
Other Income |
36.237 |
22.267 |
10.003 |
|
|
TOTAL |
2355.221 |
1851.697 |
1293.280 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
768.492 |
569.343 |
390.414 |
|
|
CSR expenditure |
6.479 |
2.310 |
0.720 |
|
|
Other expenses |
849.966 |
717.434 |
528.760 |
|
|
TOTAL |
1624.937 |
1289.087 |
919.894 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
730.284 |
562.610 |
373.386 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
110.919 |
32.265 |
5.098 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
619.365 |
530.345 |
368.288 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
210.193 |
128.321 |
116.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
409.172 |
402.024 |
252.288 |
|
|
|
|
|
|
|
Less |
TAX |
154.214 |
140.411 |
85.577 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
254.958 |
261.613 |
166.711 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
76.040 |
79.021 |
60.912 |
|
|
TOTAL EARNINGS |
76.040 |
79.021 |
60.912 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
6.027 |
4.147 |
2.536 |
|
|
Capital Goods |
9.693 |
677.002 |
7.708 |
|
|
TOTAL IMPORTS |
15.720 |
681.149 |
10.245 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.62 |
4.74 |
3.02 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
169.311 |
68.035 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
562.122 |
420.523 |
323.232 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
424.681 |
281.233 |
229.910 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
66.75 |
62.43 |
52.75 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.47 |
5.85 |
6.92 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
35.99 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
0.38 |
0.45 |
1.04 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.39 |
0.52 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.59 |
0.65 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / NetWorth) |
|
0.36 |
0.38 |
0.16 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth) |
|
1.38 |
1.09 |
0.40 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
6.58 |
17.44 |
73.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
(%) |
10.99 |
14.30 |
12.99 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT
/ Total Assets) * 100] |
(%) |
7.53 |
11.50 |
16.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
(%) |
18.09 |
22.66 |
18.67 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.05 |
1.55 |
2.88 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.01 |
1.55 |
2.88 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.42 |
0.51 |
0.86 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
1.51 |
1.35 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
2.05 |
1.55 |
2.88 |
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 |
552.000 |
552.000 |
552.000 |
|
Reserves & Surplus |
341.028 |
602.641 |
857.600 |
|
Net
worth |
893.028 |
1154.641 |
1409.600 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
677.965 |
663.133 |
|
Short term borrowings |
0.000 |
0.023 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
68.035 |
169.311 |
|
Total
borrowings |
0.000 |
746.023 |
832.444 |
|
Debt/Equity
ratio |
0.000 |
0.646 |
0.591 |
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 |
1283.277 |
1829.430 |
2318.984 |
|
|
|
42.559 |
26.760 |
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 |
1283.277 |
1829.430 |
2318.984 |
|
Profit/ (Loss) |
166.711 |
261.613 |
254.958 |
|
|
12.99
% |
14.30
% |
10.99
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF AFFAIRS OF THE
COMPANY
During the year, the Company has achieved a total service income of INR 2318.984 million as compared to INR 1829.430 million in the previous year, registering a growth of around 26.76% over that of previous year. Finance cost increased to INR 110.919 million as against INR 32.265 million as against the previous year, on account of interest charges from the full year impact of the term loan taken in FY 15-16 for purchase of BME (Bridge mounted equipment) and ground handling equipment for new customer Depreciation (including amortization) increased to INR 210.193 million as against INR 128.321 million in financial year 2015-16.
This was primarily on account of depreciation on the capital expenditure done in FY 15-16 on BME & ground handling equipment for new customers Profit after tax for the year reduced to INR 254.958 million, as compared to INR 261.613 million in the previous year due to higher depreciation and interest expense.
Basic and diluted EPS for the year is INR 4.62 per share as compared to INR 4.74 per share in financial year 2015-16. During the year, BME project was commissioned and the Company had started providing services to the customers.
Note:
The registered office of the company has been shifted from 2nd Floor, Terminal 2B, Chhatrapati Shivaji International Airport, Mumbai - 400099, Maharashtra, India to the present address w.e.f. 01.02.2014.
CORPORATE INFORMATION
The Company was incorporated on 12 December 2008 and is providing the Ground Handling Services at Chhatrapati Shivaji International Airport (CSIA), Mumbai. The Company provides ground handling services (representation, traffic, ramp, cargo, flight operations, bridge mounted services etc.) to foreign airlines, domestic airlines, business jets and private cargo companies.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G77106599 |
10587824 |
IDBI TRUSTEESHIP SERVICES LIMITED |
27/08/2015 |
16/02/2018 |
- |
2881200000.0 |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
2 |
C69021723 |
10204339 |
UNION BANK OF INDIA |
28/01/2010 |
- |
26/10/2015 |
100000000.0 |
Andheri (East) Branch, Mayani Manor, Sir M. V. Road, (Andheri East), Mumbai – 400069, Maharashtra, India |
|
3 |
C42590711 |
10204341 |
UNION BANK OF INDIA |
28/01/2010 |
- |
17/01/2015 |
640000000.0 |
Andheri (East) Branch, Mayani Manor, Sir M. V. Road, (Andheri East), Mumbai – 400069, Maharashtra, India |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Office equipment
- Plant and
Machinery
- Vehicle
- Computer equipments
- 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 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
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.