|
|
|
MIRA INFORM REPORT
|
Report No. : |
507048 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA BIRLA MYUNIVERSE LIMITED (w.e.f 16.06.2017) |
|
|
|
|
Formerly Known
As : |
ADITYA BIRLA CUSTOMER SERVICES LIMITED [w.e.f. 07.01.2015] ADITYA BIRLA CUSTOMER SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai – 400030,
Maharashtra |
|
Tel. No.: |
91-22-43567225 / 61802800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186669 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 180.011 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000MH2008PLC186669 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAHCA3055B1Z4 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA3055B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The main object the Company is to provide all kinds of financial services including but not limited to customer interaction, management services and consultancy services. [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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is
a subsidiary of “Aditya Birla Financial Services limited” and was
incorporated in the year 2008. It is a
step-down subsidiary of ‘Aditya Birla Nuvo Limited’. The company is engaged
in providing personal financial services. Its products and services include
aggregation, analysis, rule based recommendations and transactions to help
individuals managing personal finances. The company
also offers the facility to link the bank accounts, savings account, credit
cards, insurance, and investment accounts etc. on a single platform with a
dashboard to manage assets, liabilities, expenses and income. For the financial
year 2017, the company shows sound operational risk profile with growing
scale in the revenue from operation but reported loss during the year. Due to
accumulated losses, networth of the company has been eroded during the year. However,
rating weakness is partially offset by parentage of being part of the Birla
Group and the group’s focus on the sector along with the support extended to
the company and the long-standing experience of key managerial and strong
financial and managerial supports from its holding company. Trade
relations are reported as fair. Business is active. Payments terms are
reported to be slow but correct. The company can be considered for business dealings 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.
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 03.05.2018
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 (91-22-66525000)
Tel No.: 91-22-43567225 (Continuously
Ringing)
LOCATIONS
|
Registered Office : |
Aditya Birla Centre, S. K. Ahire Marg, Worli, Mumbai – 400030,
Maharashtra, India |
|
Tel. No.: |
91-22-43567225 |
|
Fax No.: |
91-22-43568310 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mumbai Office : |
Cello Triumph, Unit No. 501-503, 505 and 401, I. B. Patel Road,
Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Subhash Chandra Bhargava |
|
Designation : |
Director |
|
Address : |
1305 Dosti Aster (Dosti Acres ) , New Uphil Link Road Off S.M. Road,
Antop Hill, Wada, Mumbai – 400037 , Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
PAN No.: |
AACPB7884P |
|
DIN No.: |
00020021 |
|
|
|
|
Name : |
Ms. Anita Ramachandran |
|
Designation : |
Director |
|
Address : |
2401-2402, A Wing, Raheja Atlantis, Ganpat Rao Kadam Marg, Mumbai -
400013, Maharashtra, India |
|
Date of Appointment : |
21.08.2015 |
|
PAN No.: |
AADPR7987E |
|
DIN No.: |
00118188 |
|
|
|
|
Name : |
Mr. Ajay Srinivasan |
|
Designation : |
Director |
|
Address : |
2601 / 2603, Vivarea Building, Jacob Circle, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Appointment : |
06.05.2015 |
|
DIN No.: |
00121181 |
|
|
|
|
Name : |
Mr. Inderbir Singh Dhingra |
|
Designation : |
Director |
|
Address : |
9 Nathan Rd #06-03 Singapore 248730 Sg |
|
Date of Appointment : |
23.07.2015 |
|
DIN No.: |
03145392 |
|
|
|
|
Name : |
Mr. Gaurav Zutshi |
|
Designation : |
Director |
|
Address : |
Phoenix Tower A/802, Senapati Bapat Marg, Lower Parel, Next To Phoenix Mall, Delis Le Road, Mumbai- 400013 , Maharashtra, India |
|
Date of Appointment : |
04.05.2016 |
|
DIN No.: |
07504264 |
KEY EXECUTIVES
|
Name : |
Mr. Raghuvir Bhagwan Ajwani |
|
Designation : |
Chief Financial Officer |
|
Address : |
10 Gokul, 45, Swastik Park, Chembur, Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1974 |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
ABRPA1366P |
|
|
|
|
Name : |
N.K and Associates |
|
Designation : |
Company Secretary |
|
Address : |
159, Rabindra Sarani, 9th Floor, Kolkata – 700007, West Bengal, India |
|
|
|
|
Name : |
Mr. Raghuvir Bhagwan Ajwani |
|
Designation : |
Manager |
|
Address : |
10 Gokul, 45, Swastik Park, Chembur, Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1974 |
|
Date of Appointment : |
19.10.2015 |
|
PAN No.: |
ABRPA1366P |
MAJOR SHAREHOLDERS
AS ON 18.07.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Aditya Birla Capital Limited, India (Formerly known as Aditya Birla
Financial Services Limited, India) |
|
16866211 |
|
Shriram Jagetiya* |
|
10 |
|
Sushil Agarwal* |
|
10 |
|
Rajesh Shah* |
|
10 |
|
Rakesh Gupta* |
|
10 |
|
Mahendra Bhandari* |
|
10 |
|
Nirmal Mehta* |
|
10 |
|
Aditya Birla Customer Services Employee Welfare Trust (Under ESOP) |
|
1134853 |
|
Total |
|
18001124 |
Note:*Mark denotes the registered owner of the
shares and Aditya Birla Capital Limited (Formerly known as Aditya Birla Financial
Services Limited) is the beneficial owner of the said shares.
|
Names of Shareholders [Preference Shares] |
|
No. of Shares |
|
International Finance corporation 0.001% Compulsorily Convertible Preference Shares (CCPS) of INR 10/- |
|
4695938 |
|
Aditya Birla Capital Limited, India (Formerly known as Aditya Birla
Financial Services Limited, India) 0.001% Compulsorily Convertible Preference Shares (CCPS) Class B of
INR 10/- |
|
4695938 |
|
Total |
|
9391876 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.05.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
0.00033331 |
|
Promoters [Bodies
corporate] |
93.69532147 |
|
Public/Other than promoters [Body corporate] |
6.30434522 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The main object the Company is to provide all kinds of financial services including but not limited to customer interaction, management services and consultancy services. [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 : |
|
|
Auditors : |
|
|
Name : |
S.R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai, Maharashtra, India |
|
PAN No.: |
AAJPJ8220G |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Ultimate Holding
company : |
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|
Holding company : |
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|
Fellow Subsidiary
company : |
|
CAPITAL STRUCTURE
AFTER 30.05.2017
Authorised Capital : INR
400.000 Million
Issued, Subscribed & Paid-up Capital : INR 273.930 Million
AS ON 30.05.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
10000000 |
0.001% Compulsorily Convertible Preference
Shares |
INR 10/- each |
INR 100.000 Million |
|
10000000 |
0.001% Compulsorily Convertible Preference Shares Class B |
INR 10/- each |
INR 100.000 Million |
|
|
Total |
|
INR 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18001124 |
Equity Shares |
INR 10/- each |
INR 180.011 Million |
|
4695938 |
0.001% Compulsorily Convertible Preference
Shares |
INR 10/- each |
INR 46.959 Million |
|
4695938 |
0.001% Compulsorily Convertible Preference Shares Class B |
INR 10/- each |
INR 46.959 Million |
|
|
|
|
|
|
|
Total |
|
INR 273.929
Million |
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18001124 |
Equity Shares |
INR 10/- each |
INR 180.011 Million |
|
|
|
|
|
|
|
Total |
|
INR 180.011
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 |
180.011 |
180.011 |
218.556 |
|
(b) Reserves & Surplus |
(1980.402) |
(1404.525) |
(191.836) |
|
(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) |
(1800.391) |
(1224.514) |
26.720 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1200.002 |
1200.001 |
101.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
12.962 |
14.224 |
0.000 |
|
(d) Long-term
provisions |
7.596 |
6.063 |
4.037 |
|
Total Non-current
Liabilities (3) |
1220.560 |
1220.288 |
105.037 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
773.821 |
92.527 |
0.000 |
|
(b) Trade
payables |
135.788 |
147.949 |
161.955 |
|
(c) Other
current liabilities |
30.712 |
49.448 |
26.809 |
|
(d) Short-term
provisions |
7.301 |
4.528 |
2.857 |
|
Total Current
Liabilities (4) |
947.622 |
294.452 |
191.621 |
|
|
|
|
|
|
TOTAL |
367.791 |
290.226 |
323.378 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21.382 |
13.159 |
17.864 |
|
(ii)
Intangible Assets |
85.959 |
73.099 |
47.480 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
11.474 |
15.105 |
9.445 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
4.148 |
1.282 |
0.000 |
|
(d)
Long-term Loan and Advances |
3.041 |
4.849 |
57.236 |
|
(e) Other
Non-current assets |
174.078 |
145.005 |
0.000 |
|
Total Non-Current
Assets |
300.082 |
252.499 |
132.025 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
174.933 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
51.849 |
27.355 |
9.525 |
|
(d) Cash
and cash equivalents |
1.045 |
0.045 |
0.614 |
|
(e)
Short-term loans and advances |
3.815 |
0.778 |
6.281 |
|
(f) Other current
assets |
11.000 |
9.548 |
0.000 |
|
Total
Current Assets |
67.709 |
37.726 |
191.353 |
|
|
|
|
|
|
TOTAL |
367.791 |
290.225 |
323.378 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
115.548 |
47.979 |
26.452 |
|
|
Other Income |
0.802 |
6.782 |
7.050 |
|
|
TOTAL |
116.350 |
54.761 |
33.502 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Employee benefit expense |
187.946 |
143.691 |
105.187 |
|
|
Other expenses |
411.556 |
570.569 |
379.139 |
|
|
TOTAL |
599.502 |
714.260 |
484.326 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(483.152) |
(659.499) |
(450.824) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
41.729 |
5.007 |
77.898 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(524.881) |
(664.506) |
(528.722) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
52.026 |
46.357 |
84.808 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(576.907) |
(710.863) |
(613.530) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(576.907) |
(710.863) |
(613.530) |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(2040.316) |
(1329.569) |
(708.331) |
|
|
|
|
|
|
|
|
Other
additions to reserve |
(2.021) |
0.116 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(2619.244) |
(2040.316) |
(1321.861) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(32.05) |
(40.58) |
(53.77) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(564.164) |
(759.073) |
(348.225) |
|
Net cash flows from (used in) operating activities |
(568.246) |
(760.393) |
(348.670) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
163.78 |
208.10 |
131.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.23 |
1.75 |
2.78 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(4.07) |
(6.51) |
(6.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
5.84 |
5.15 |
0.90 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(1.10) |
(1.06) |
3.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(0.53) |
(0.24) |
7.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.07) |
(0.08) |
2.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(11.58) |
(131.72) |
(5.79) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(499.28) |
(1481.61) |
(2319.41) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(156.86) |
(244.94) |
(189.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
32.04 |
58.05 |
(2296.15) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.07 |
0.13 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.07 |
0.13 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(4.90) |
(4.22) |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.97 |
7.18 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.07 |
0.13 |
1.00 |
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 |
218.556 |
180.011 |
180.011 |
|
Reserves & Surplus |
(191.836) |
(1404.525) |
(1980.402) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
26.720 |
(1224.514) |
(1800.391) |
|
|
|
|
|
|
Long-term borrowings |
101.000 |
1200.001 |
1200.002 |
|
Short term borrowings |
0.000 |
92.527 |
773.821 |
|
Total
borrowings |
101.000 |
1292.528 |
1973.823 |
|
Debt/Equity
ratio |
3.780 |
(1.056) |
(1.096) |
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 |
26.452 |
47.979 |
115.548 |
|
|
|
81.381 |
140.830 |
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 |
26.452 |
47.979 |
115.548 |
|
Profit/ (Loss) |
(613.530) |
(710.863) |
(576.907) |
|
|
(2319.41
%) |
(1481.61
%) |
(499.28
%) |
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 |
No |
|
21 |
Banking facility details |
No |
|
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:
The company was incorporated on September 11, 2008 under the provisions of Companies Act, 1956. The main object the Company is to provide all kinds of financial services including but not limited to customer interaction, management services and consultancy services.
BUSINESS PERFORMANCE
During the year, the Company achieved total revenue of INR 115.548 million. The Loss before tax was INR 576.907 million compared to INR 710.863 million last year. The total customers registered as on 31st March 2017 on MyUniverse portal stands at 3.700 million.
MANAGEMENT DISCUSSION AND ANALYSIS
MACRO ECONOMIC
SCENARIO
2016 was a year of surprises. Global growth moved to 3.1% (according to the World Bank) in 2016 and is expected to rise to 3.5% in 2017 and 3.6% in 2018. The recovery in the US is the prime driver for this growth improvement. Also, stable commodity prices are expected to keep growth in Emerging Markets fairly reasonable. The World Bank expects Advanced Economies to grow @ 2% (up from 1.7% in 2016) and the Emerging and developing economies are expected to grow @ 4.5% in 2017, up from 4.1% in 2016. Overall therefore, global growth is expected to pick up.
With inflation in Advanced economies set to rise to 2% in 2017 would be keenly watched by global financial markets to see what trajectory Fed rates would follow, post the first hike already seen in Mar 2017. In the absence of any meaningful tailwinds to commodity prices, any spike in global inflation is less likely.
In the backdrop of persistent uncertainty, financial markets are expected to be on their toes all through.
On the Indian macroeconomic front, FY17 started on a good note with various economic activity indicators slowly recovering and normal monsoon after 2 years of bad monsoon added to the momentum. This was followed by a brief period of volatility as news around BREXIT led to market volatility. Soon, markets got over this, the legislation of inflation targeting framework and creation of the monetary policy committee offered some direction to markets. The run up to the festive season saw improved sentiments in the backdrop of overall macroeconomic stability. Increased activity around the reform agenda and passing of GST bill painted a good outlook. The demonetization exercise caused a temporary kink in an otherwise smooth recovery process. But the outcome of this exercise will be a cleaner economy, better tax compliance and a change in attitude towards cash transactions and all this reinforced the governments resolve to reduce corruption.
They are expected to close FY17 with a GVA growth of 6.7% yoy down from 7.8% in FY16. Inflation remained well under control, over achieving RBIs target of 5% by averaging at 4.5% for FY17 down from 4.9% in FY16.
The natural byproduct of the demonetization exercise was a rush of deposits into the banking system. This liquidity surplus with banks enabled monetary policy transmission significantly as banks cut their MCLRs by about 90bps post this move. But credit offtake continued to remain muted. FY17 saw average credit growth of 7% yoy down from 9% yoy in FY16.
While the reliance on banks as a provider of funds slowed, non-bank sources took the lead by disbursing ~62% of the overall flow of funds to the commercial sector. External fund flows, especially in the form of FDI played an important role in this, as gross FDI inflows for FY17 stood at ~60bn$, up from ~55bn$ in FY16. In fact, post the state election results, a new found interest from FPIs has added to the currency strength basis whereby INR has already appreciated by ~5% since the beginning of 2017.
Growth prospects for FY18 seem to be improving. In addition, inflation looks contained, the government is all set to go ahead with GST, FIIs are looking at India positively and increased thrust on financial inclusion has encouraged retail participation in the financial services industry especially in the non-bank space. Overall, this bodes well for the FS industry.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
1200.002 |
1200.001 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
advances |
773.821 |
92.527 |
|
|
|
|
|
Total |
1973.823 |
1292.528 |
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
Tangible assets
· Furniture and fixtures
· Office equipment
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 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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.