MIRA
INFORM REPORT
|
Report Date : |
25.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
BALAJI FREIGHT CARRIERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
BG-354, Sanjay Gandhi
Transport Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
23.12.1997 |
|
|
|
|
Com. Reg. No.: |
55-91298 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U60230DL1997PTC091298 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELB07959A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACB6461D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Warehousing agents in |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory track
records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
BG-354, Sanjay Gandhi
Transport Nagar, |
|
Tel. No.: |
91-11-27831993 / 27832483
/ 27833252 |
|
Mobile No.: |
91-9820045164 |
|
Fax No.: |
91-11-27833252 |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
Godown
No.72, |
|
|
|
|
Branches : |
Plot
No. 1536, Road No. 17, Steel Market, KWC, Kamboli, New Mumbai |
|
Tel. No.: |
91-22-27423772 |
DIRECTORS
|
Name : |
Mr. Ghanshyam Goel |
|
Designation : |
Director |
|
Address : |
BG-354, Sanjay Gandhi
Transport Nagar, |
|
Date of Appointment : |
23.12.1997 |
|
|
|
|
Name : |
Ms. Mamta Goel |
|
Designation : |
Director |
|
Address : |
45/55, Sector – II, Rohini, |
|
Date of Appointment : |
23.12.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ghanshyam Goel |
|
9100 |
|
Mohinder Goyal |
|
600 |
|
Vinod Goyal |
|
850 |
|
Mamta Goyal |
|
1100 |
|
Sakuntala Goyal |
|
1250 |
|
Vinod Garg |
|
750 |
|
Vijay Garg |
|
1000 |
|
Seema Goyal |
|
2000 |
|
|
|
2000 |
|
Kali Ram |
|
4695 |
|
|
|
|
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Warehousing agents in |
GENERAL INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Shyam Goel and Associates Chartered Accountants |
|
Address : |
411, ITL Twin Tower, B – 9, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.597 |
0.233 |
|
|
2] Share Application Money |
|
0.000 |
1.455 |
|
|
3] Reserves & Surplus |
|
1.510 |
0.379 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2.107 |
2.067 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.591 |
1.096 |
|
|
2] Unsecured Loans |
|
1.482 |
1.187 |
|
|
TOTAL BORROWING |
|
2.073 |
2.283 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.025 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.180 |
4.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.834 |
1.218 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.029 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
3.537 |
3.766 |
|
|
Cash & Bank Balances |
|
1.169 |
1.329 |
|
|
Other Current Assets |
|
0.398 |
0.595 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
5.104 |
5.690 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1.787 |
2.535 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
1.787 |
2.535 |
|
|
Net Current Assets |
|
3.317 |
3.155 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.180 |
4.375 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
|
Sales Turnover |
|
|
20.319 |
|
|
Total Income |
|
|
20.319 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.095 |
|
|
Provision for Taxation |
|
|
0.056 |
|
|
Profit/(Loss) After Tax |
|
|
0.039 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Other Expenditure |
|
|
20.224 |
|
Total Expenditure |
|
|
20.224 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.19 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.47 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.60 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.83 |
2.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.86 |
2.24 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject
is a transport company with facilities for warehousing and storage. They have a
large fleet of their Tempo, Canter, LPT 18 to 23 Fleet trucks that
ensure direct and timely services Delhi-Mumbai-Delhi with
a guaranteed delivery time between 45 to 60 hours. They achieve customer
satisfaction through their specialized quality services. Their company equipped
with experienced staff, computers with latest technology. They have more than
fifteen years experience in transport. They are presently working with reputed
export/import companies situated in Delhi & NCR. They will try to improve
their services time to time and provide all related information to their
clients.
Services
- All branches equipped with computer
& experienced staff.
- Local collection and direct delivery to
Delhi-Mumbai-Delhi.
- Holding of cargo in the company - owned
warehouses/godowns.
- Handling of cargo with all necessary
care.
- Delivery within the committed time
period.
- Providing all necessary information to
their clients regarding their cargo.
- Minimize handling & timely
delivery.
- Skilled labour for loading &
unloading services.
- Branch offices & godowns in
- All information regarding consignment
provided immediately on telephone.
Infrastructure
They have a very sound infrastructure base that has the potential to offer
world class services with all the required facilities. The working team are
trained and skilled with the know how to manage any orders maintaining the
service at its best.
Quality
Quality
is the aspect that has provided them the distinct identity in the market. They
aim to reach the greater heights of excellence by offering high class service
to the clients and win their trust by their qualitative work.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.41.80 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.55.85 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|