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MIRA INFORM REPORT
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Report No. : |
510446 |
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Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GO AIRLINES (INDIA) LIMITED (w.e.f. 01.03.2011) |
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Formerly Known
As : |
GO AIRLINES ( |
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Registered
Office : |
C/O Britania Industries Limited, A-33, Lawrence Road Industrial Area,
New Delhi – 110035 |
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Mob. No.: |
91-22-67410000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.04.2004 |
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Com. Reg. No.: |
55-217305 |
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Capital
Investment / Paid-up Capital : |
INR 1500.000 Million |
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CIN No.: [Company Identification
No.] |
U63013DL2004PLC217305 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACG2599K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject has two operating segments: (i) Aircraft Passenger and Cargo Services. (ii) Real Estate Development. [Registered Activity] |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 1136000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Go Investment and Trading Private Limited” and it’s an aviation foray of “Wadia Group” incorporated in the year 2004. It is engaged in providing air transport service of passenger. The subject operates under the brand “GoAir”. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year and has maintained fair profit margin during the year. Rating takes into account, the average financial risk profile marked by negative reserve level and strained liquidity position. Rating further gets constrained on account of limited pricing power due to high fixed cost operating structure in airline industry combined with heavy debt burden, including aircraft lease and increasing competition along with capex risk due to higher rental capitalization. However, these rating weakness gets partially offset by established record of its business operation backed by “Wadia Group” which has developed an enviable record of successfully managing diversified business and technologies support by regular infusion of equity to meet the capital requirement. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
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Rating |
Long Term = BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
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Date |
03.07.2017 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Short Term Borrowing = A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
03.07.2017 |
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
31-03-2018.
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 14.05.2018.
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 BY
|
Name : |
Mr. Paresh Gupta |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9967720086 |
|
Date : |
12.05.2018 |
Tel. No.: 91-22-67410000 (Continuously ringing.)
LOCATIONS
|
Registered Office : |
C/O Britania Industries Limited, A-33, Lawrence Road Industrial Area,
New Delhi – 110035, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head / Corporate Office : |
1st Floor,
C-1, Wadia International Centre (WIC), Pandurang Budhkar Marg, Worli, Mumbai
- 400025, Maharashtra, India |
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Tel. No.: |
91-22-67410000
(Board Line) |
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Fax No.: |
91-22-67410001 |
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Airport Offices : |
Located at: ·
Ahmadabad ·
Baroda
·
Bangalore ·
Chandigarh ·
Chennai
·
Delhi ·
Goa ·
Guwahati ·
Jaipur ·
Jammu ·
Kochi ·
Kolkata ·
Leh,
Jammu and Kashmir ·
Lucknow ·
Mumbai ·
Nagpur ·
Patna ·
Port
Blair ·
Pune ·
Ranchi ·
Srinagar |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Keki Manchersha Elavia |
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Designation : |
Director |
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Address : |
2A Anand Bhavan 36th Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
09.04.1946 |
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Qualification : |
B.com (Hons.), FCA |
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Date of Appointment : |
30.05.2014 |
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DIN No.: |
00003940 |
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Other Directorship:
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Name : |
Mr. Vijay Laxman Kelkar |
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Designation : |
Director |
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Address : |
A701, Blossom Boulevard, Plot No.421/2 South Main Road, Koregaon Park,
Pune – 411001, Maharashtra, India |
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Date of Birth/Age : |
15.05.1942 |
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Date of Appointment : |
21.06.2011 |
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PAN No.: |
ACSPK8324P |
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DIN No.: |
00011991 |
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Other Directorship:
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Name : |
Mr. Nusli Nevile Wadia |
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Designation : |
Director |
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Address : |
Beach House, P. Balu Marg, Prabhadevi, Mumbai - 400025, Maharashtra,
India |
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Date of Birth/Age : |
15.02.1944 |
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Date of Appointment : |
01.06.2004 |
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PAN No.: |
AAAPW0990M |
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DIN No.: |
00015731 |
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Other Directorship:
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Name : |
Mr. Apurva Shishir Diwanji |
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Designation : |
Director |
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Address : |
Wyoming Building, 5th Floor, Little Gibbs Road, Malabar Hill, Mumbai –
400006, Maharashtra, India |
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Date of Birth/Age : |
17.01.1969 |
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Qualification : |
M.A. in Law |
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Date of Appointment : |
21.06.2011 |
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PAN No.: |
AECPD8099L |
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DIN No.: |
00032072 |
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Other Directorship:
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Name : |
Mr. Ness Nusli Wadia |
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Designation : |
Director |
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Address : |
Beach House, P. Balu Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
30.05.1971 |
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Date of Appointment : |
29.04.2004 |
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PAN No.: |
AAAPW0814G |
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DIN No.: |
00036049 |
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Other Directorship:
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Name : |
Mr. Jehangir Nusli Wadia |
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Designation : |
Managing Director |
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Address : |
Springs – I, Flat 3704, GD Ambedkar Marg, Naigaon, Mumbai – 400 014,
Maharashtra, India |
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Date of Birth/Age : |
06.07.1973 |
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Date of Appointment : |
29.04.2004 |
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PAN No.: |
AAAPW0989N |
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DIN No.: |
00088831 |
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Other Directorship:
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Name : |
Mr. Vinesh kumar jairath |
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Designation : |
Additional Director |
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Address : |
194-B, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai –
400018, Maharashtra, India |
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Date of Appointment : |
25.09.2017 |
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DIN No.: |
00391684 |
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Other Directorship:
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Name : |
Vibha Paul Rishi |
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Designation : |
Director |
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Address : |
812, The Aralias Golf Course Road, Chakarpur, Gurugram –
122002, Haryana, India |
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Date of Appointment : |
03.09.2015 |
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DIN No.: |
05180796 |
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Other Directorship:
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Name : |
Mr. Varun Berry |
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Designation : |
Additional Director |
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Address : |
D-901, Ambience Valley NH-8 Gurugram – 122001, Haryana,
India |
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Date of Appointment : |
25.09.2017 |
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DIN No.: |
05208062 |
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Other Directorship:
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Name : |
Mr. Wolfgang Prock Schauer |
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Designation : |
Managing Director |
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Address : |
Flat No.2702, 27th Floor, Imperial Tower, South Wing, B B
Nakashe Marg, Tardeo, Mumbai – 400034, Maharashtra, India |
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Date of Appointment : |
01.10.2016 |
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DIN No.: |
07493772 |
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KEY EXECUTIVES
|
Name : |
Balakrishnan Peringandoor Krishnan |
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Designation : |
Chief Financial Officer (KMP) |
|
Address : |
23 Apsara, 21st Road, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Appointment : |
16.09.2015 |
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PAN No.: |
ACRPK3665L |
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|
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|
Name : |
Wolfgang Prock Schauer |
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Designation : |
Chief Executive Officer (KMP) |
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Address : |
Flat No.2702, 27th Floor, Imperial Tower, South Wing, B B
Nakashe Marg, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Appointment : |
15.04.2016 |
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PAN No.: |
ALJPP7953P |
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Name : |
Nikhil Rathod |
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Designation : |
Company Secretary |
|
Address : |
142/D, Lal Baba Haveli, 2nd Floor, Room No. 12,
Bhuleshwar, Mumbai – 400002, Maharashtra, India |
|
Date of Appointment : |
14.02.2014 |
|
PAN No.: |
ANYPR8205R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
1.46 |
|
Promoter – (Individual/ Hindu Undivided Family Non-resident Indian (NRI) |
30.76 |
|
Promoter - Bodies
corporate |
67.78 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject has two operating segments: (iii) Aircraft Passenger and Cargo Services. (iv) Real Estate Development. [Registered Activity] |
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Products : |
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||||
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||||
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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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 declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
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|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Maneekji Wadia
Building, 127, Mahatma Gandhi Road, Mumbai – 400023, Maharashtra, India |
|
PAN
No. : |
AAAFK7554R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Go Investments and Trading Private Limited U65990DL1988PTC300184 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
U65990MH2006PTC158807
U29199MH2006PTC162899
U51909MH2006PTC162897
U80211MH2001PTC132222
U24299MH2001PTC132850
U51900MH2000PTC129121
U92140MH1999PTC122874
U72900MH2001PTC133276
L17120MH1879PLC000037
L99999MH1863PLC000002
U65993MH1988PTC048509
U65910MH1986PTC041407
U65993MH1988PTC047813
U17120MH1942PLC003679
L15412WB1918PLC002964
U67120MH1976PLC019304 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 10/- each |
INR 2000.000 Million |
|
50000000 |
Preference Shares |
INR 10/- each |
INR 500.000 Million |
|
|
Total |
|
INR 2500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
1500.000 |
1000.000 |
1000.000 |
|
(b) Reserves and Surplus |
(1102.400) |
(3154.900) |
(4657.300) |
|
(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) |
397.600 |
(2154.900) |
(3657.300) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12088.600 |
7548.600 |
8597.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
12.800 |
16.500 |
7.500 |
|
(d) long-term
provisions |
97.700 |
70.300 |
59.100 |
|
Total Non-current
Liabilities (3) |
12199.100 |
7635.400 |
8664.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
7487.100 |
8506.400 |
9506.400 |
|
(b) Trade
payables |
5406.100 |
4088.900 |
3559.500 |
|
(c) Other
current liabilities |
7542.500 |
12905.000 |
5827.900 |
|
(d) Short-term
provisions |
21.500 |
15.700 |
12.000 |
|
Total Current
Liabilities (4) |
20457.200 |
25516.000 |
18905.800 |
|
|
|
|
|
|
TOTAL |
33053.900 |
30996.500 |
23912.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
789.500 |
691.900 |
683.600 |
|
(ii) Intangible
Assets |
31.300 |
33.300 |
33.900 |
|
(iii) Tangible assets
capital work-in-progress |
14461.400 |
15669.400 |
9847.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
1095.200 |
2095.900 |
2480.600 |
|
(d)
Long-term loans and advances |
9311.600 |
7463.900 |
7191.100 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
25689.100 |
25954.500 |
20236.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1166.600 |
944.500 |
842.900 |
|
(c) Trade
receivables |
689.900 |
226.100 |
163.900 |
|
(d) Cash and
bank balances |
73.200 |
53.700 |
85.700 |
|
(e)
Short-term loans and advances |
5416.800 |
3811.200 |
2550.300 |
|
(f) Other
current assets |
18.300 |
6.500 |
33.100 |
|
Total
Current Assets |
7364.800 |
5042.000 |
3675.900 |
|
|
|
|
|
|
TOTAL |
33053.900 |
30996.500 |
23912.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
33098.700 |
27537.700 |
29465.600 |
|
|
Other Income |
2031.300 |
375.900 |
181.100 |
|
|
TOTAL |
35130.000 |
27913.600 |
29646.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
3351.000 |
2704.800 |
2382.200 |
|
|
CSR expenditure |
16.600 |
13.700 |
0.000 |
|
|
Other expenses |
27576.600 |
22993.000 |
25311.100 |
|
|
Exceptional items before tax |
(508.800) |
(1247.000) |
0.000 |
|
|
TOTAL |
30435.400 |
24464.500 |
27693.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4694.600 |
3449.100 |
1953.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1538.900 |
1456.200 |
1415.800 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3155.700 |
1992.900 |
537.600 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
97.700 |
89.500 |
91.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3058.000 |
1903.400 |
446.200 |
|
|
|
|
|
|
|
Less |
TAX |
1005.500 |
401.000 |
168.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2052.500 |
1502.400 |
277.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
423.000 |
211.400 |
0.000 |
|
|
Capital Goods |
165.600 |
72.300 |
0.000 |
|
|
TOTAL IMPORTS |
588.600 |
283.700 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
16.48 |
15.02 |
2.77 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3867.100 |
8864.900 |
2253.600 |
|
Net cash flows from (used in) operations |
97.100 |
2735.800 |
(29.100) |
|
Net cash flows from (used in) operating activities |
(741.200) |
2627.100 |
(58.900) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
7.61 |
3.00 |
2.03 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
47.98 |
121.79 |
179.78 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
4.02 |
3.65 |
2.32 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.31 |
0.21 |
0.18 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
1.10 |
1.35 |
1.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
58.96 |
(11.56) |
(5.57) |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
51.45 |
(11.84) |
(5.17) |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
38.44 |
(7.61) |
(2.89) |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
3.05 |
2.37 |
1.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
6.20 |
5.46 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
6.21 |
4.85 |
1.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
516.22 |
(69.72) |
(7.58) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
0.36 |
0.20 |
0.19 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.30 |
0.16 |
0.15 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.01 |
(0.07) |
(0.15) |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
15.63 |
24.92 |
20.36 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
0.36 |
0.20 |
0.19 |
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 |
1000.000 |
1000.000 |
1500.000 |
|
Reserves & Surplus |
(4657.300) |
(3154.900) |
(1102.400) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(3657.300) |
(2154.900) |
397.600 |
|
|
|
|
|
|
Long-term borrowings |
8597.500 |
7548.600 |
12088.600 |
|
Short term borrowings |
9506.400 |
8506.400 |
7487.100 |
|
Current maturities of
long-term debts |
2253.600 |
8864.900 |
3867.100 |
|
Total
borrowings |
20357.500 |
24919.900 |
23442.800 |
|
Debt/Equity
ratio |
(5.566) |
(11.564) |
58.961 |
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 |
29465.600 |
27537.700 |
33098.700 |
|
|
0.000 |
(6.543) |
20.194 |
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 |
29465.600 |
27537.700 |
33098.700 |
|
Profit/ (Loss) |
277.300 |
1502.400 |
2052.500 |
|
|
0.94
% |
5.46
% |
6.20
% |
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 |
OPERATIONS AND
OUTLOOK
During the Financial Year 2016-17, the Company had a fleet of 23 aircraft comprising of 5 Airbus A320 New Engine Option (NEO) Aircraft and 7 Spare Engine.
During the Financial Year 2016-17, the Company operated over 23 destinations across India.
During the Financial Year 2016-17, the Company made significant increase in the Operating Revenue by 20.19 % from INR 33098.700 Million to INR 27537.700 Million. The Company has achieved a substantial rise in Operating Profit of about 90.08 % compared to the previous Financial Year 2015-16. The Operating Profit of the Company for the Financial Year 2016-17 is INR 4185.800 Million as compared to INR 2202.100 Million for the Previous Financial Year 2015-16.
DEMERGER OF UNDERTAKING
UNDER COMPOSITE SCHEME OF ARRANGEMENT
A Composite scheme including demerger of the Undertaking which is engaged in the business of real estate development of Go Airlines (India) Limited (“Transferor Company”) into Wadia Reality Private Limited (“Transferee Company”) is filed with NCLT, Delhi Bench on March 27, 2017 and the certified copy of the order of the Court sanctioning the scheme is awaited. Once the scheme is approved all identified assets and liabilities of the Transferor Company pertaining to the Demerged Undertaking, including it's liabilities, employees and contingent liabilities will be transferred from the Appointed Date i.e. February 1, 2017.
The book value of assets of the Demerged Undertaking shall be deducted, on line by line basis, from the book value of assets of the Transferor Company, and book value of liabilities of Demerged Undertaking shall be deducted, on line by line basis, from the book value of liabilities of the Company. The balance carried in the Revaluation Reserve shall stand cancelled. The net impact, of the above, of Rs.7.78 Crores shall be adjusted against retained earnings.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
10504.100 |
5946.900 |
|
Term loans from others |
0.000 |
1350.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
2585.500 |
2703.700 |
|
|
|
|
|
Total |
13089.600 |
10000.600 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G54607353 |
100124993 |
13/09/2017 |
- |
- |
20500000000.0 |
Central Office at Chander Mukhi, Nariman PointMumbaiMH400021IN |
|
|
2 |
G70105457 |
100139939 |
10/08/2017 |
- |
- |
1500000000.0 |
7th Floor, Cnergy, Appasaheb Marathe MargPrabhadeviMumbaiMH400025IN |
|
|
3 |
G48401475 |
100109555 |
19/06/2017 |
06/07/2017 |
- |
5000000000.0 |
Corporate Financial Services Branch, 3rd Floor,10/12 Mumbai Samachar Marg, Fort,MumbaiMH400605IN |
|
|
4 |
G46226866 |
100082431 |
13/02/2017 |
11/05/2017 |
- |
500000000.0 |
25, Barakhamba Road8th Floor. Sood Towers (East Tower)New DelhiMH400605IN |
|
|
5 |
C81347577 |
10625187 |
11/09/2015 |
- |
- |
2226793.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
|
6 |
A93173508 |
10237093 |
15/07/2010 |
- |
- |
500000000.0 |
224-A, MITTAL COURT,A-WING, NARIMAN POINTMUMBAIMH400021IN |
|
|
7 |
B68521749 |
10179803 |
11/09/2009 |
05/02/2013 |
- |
12000000000.0 |
CORPORATE FINANCE BRANCH, 1ST FLOORMMO BUILDING, MG ROAD, FORTMUMBAIMH400023IN |
|
|
8 |
B87537981 |
10172476 |
13/08/2009 |
09/10/2013 |
- |
13220000000.0 |
Corporate Finance Branch, 1st Floor, MMO Building,M.G. Road, Fort,MumbaiMH400023IN |
|
|
9 |
B07537921 |
10163461 |
21/06/2006 |
04/03/2011 |
- |
300000000.0 |
CREDIT MANAGEMENT CENTER, UNIT 6, CORPORATE PARKSION TROMBAY ROAD, CHEMBURMUMBAIMH400071IN |
|
|
10 |
G53596698 |
100068055 |
29/11/2016 |
- |
11/09/2017 |
1500000000.0 |
7th Floor, Cnergy, Appasaheb Marathe Marg,PrabhadeviMUMBAIMa400025IN |
|
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Computer equipment
- Leasehold improvements
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYO |
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.