MIRA
INFORM REPORT
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Report Date : |
03.02.2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
VALUE
FREIGHT [DELHI] PRIVATE LIMITED |
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Registered Office : |
503/504
Sabari Samriddhi, Fifth Floor, Sion Trombay Road, Maitri Park, Chembur,
Mumbai 400 071, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
21.07.2000 |
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Com. Reg. No.: |
11 – 127840 |
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CIN No.: [Company
Identification No.] |
U63090MH2000PTC127840 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV10257C |
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PAN No.: [Permanent
Account No.] |
AABCV1257E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
International
Freight Forwarding Agent – Air/Sea Exports & Custom Brokerage |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
20000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track. 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
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Registered/ Head Office : |
503/504 Sabari Samriddhi, Fifth Floor, Sion Trombay Road, Maitri Park, Chembur, Mumbai 400 071, Maharashtra, India |
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Tel. No.: |
91-22-25208930 to 25208937 |
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Fax No.: |
91-22-25206602 |
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E-Mail : |
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Website : |
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Location : |
Commercial
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Regional
Office : |
First Floor, 25 Community Centre, East of Kailash, New Delhi 110 065, India Tel. No. : 91-11-41516083 Mobile : 91-9818608661/ 9810144973 Fax No. : 91-11-41516084 E-mail : delhi@superfreight.co.in 12/9
Second Floor, Krishnan Koil Street, Chennai 600 001, Tamil Nadu, India Tel. No. : 91-44-42167662/ 25267930/ 42166634 Fax No. : 91-44-42166614 E-mail : chennai@superfreight.co.in 12 Kasturi Apartments, Fourth Floor, Lane No. 17, Dahanukar Colony, Kothrud, Pune 411 029, Maharashtra, India Telefax No. : 91-20-25439004 E-mail : mumbai@superfreight.co.in |
DIRECTORS
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Name : |
Capt Daya Saran |
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Designation : |
Whole
Time Director |
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Address : |
C-26
Sector 27, Noida, Uttar Pradesh |
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Date of Birth/Age : |
15/08/1958 |
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Date of Appointment : |
21/07/2000 |
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Name : |
Capt Balakrishna Mahaeshwar Mandrekar |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 103 & 104, Premium Tower, Lokhandwala Complex, Andheri (West), Mumbai 400 053, Maharashtra |
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Date of Birth/Age : |
28/07/1954 |
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Date of Appointment : |
21/07/2000 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Capt Balakrishna Mahaeshwar Mandrekar |
20000 |
20.00 |
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Capt Daya Saran |
40000 |
40.00 |
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Mr Narayan Bisht |
10000 |
10.00 |
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Mr Ali Syed Ather |
10000 |
10.00 |
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Mr Hemant Kumar Joshi |
10000 |
10.00 |
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Mr Partha Sarkar |
10000 |
10.00 |
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TOTAL |
100000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
International
Freight Forwarding Agent – Air/Sea Exports & Custom Brokerage |
GENERAL
INFORMATION
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Bankers : |
Not
Available |
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Banking Relations : |
-- |
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Auditors : |
Ajay Varde & Company Chartered Accountants, A-3, Mont Clair Apartment, 534 Gabrial Road, Behind HP Petrol Pump, Mahim, Mumbai 400 016, Maharashtra (Mr A C Varde, Proprietor, Membership No. 39092) |
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Tel. No.: |
91-22-24457761 |
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Fax No.: |
91-22-24442193 |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.606 |
2.271 |
1.676 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.606 |
3.271 |
2.676 |
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LOAN FUNDS |
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1] Secured Loans |
0.807 |
0.000 |
0.147 |
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2] Unsecured Loans |
0.707 |
0.759 |
1.819 |
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TOTAL BORROWING |
1.514 |
0.759 |
1.966 |
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DEFERRED TAX LIABILITIES |
0.109 |
0.121 |
0.124 |
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TOTAL |
6.229 |
4.151 |
4.766 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.948 |
1.316 |
1.456 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
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Sundry Debtors |
10.695 |
8.807 |
15.583 |
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Cash & Bank Balances |
4.643 |
3.051 |
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Other Current Assets |
0.000 |
0.000 |
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Loans & Advances |
5.037 |
3.681 |
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Total Current Assets |
20.375 |
15.539 |
15.583 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
12.723 |
10.181 |
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Provisions |
3.410 |
2.570 |
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Total Current Liabilities |
16.133 |
12.751 |
12.327 |
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Net Current Assets |
4.242 |
2.788 |
3.256 |
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MISCELLANEOUS EXPENSES |
0.039 |
0.047 |
0.054 |
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TOTAL |
6.229 |
4.151 |
4.766 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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11.618 |
13.391 |
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Profit/(Loss)
Before Tax |
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2.162 |
1.827 |
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Provision
for Taxation |
|
0.823 |
0.665 |
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Profit/(Loss)
After Tax |
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1.339 |
1.162 |
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Export
Value |
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10.568 |
4.101 |
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Total
Expenditure |
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8.875 |
11.073 |
KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
11.53 |
8.68 |
8.67 |
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Net Profit Margin (PBT/Sales) |
(%) |
18.78 |
13.89 |
13.64 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.99 |
6.87 |
10.72 |
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Return on Investment (ROI) (PBT/Networth) |
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29.07 |
35.52 |
0.68 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.33 |
0.23 |
5.34 |
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Current Ratio (Current Asset/Current Liability) |
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1.26 |
1.22 |
1.26 |
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Quick Ratio |
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1.26 |
1.22 |
-- |
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Current Liabilities/Net worth |
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3.50 |
3.90 |
4.60 |
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Fixed Asset / Net worth |
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0.42 |
0.40 |
0.54 |
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Average Collection Days |
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339.01 |
244.40 |
-- |
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Account Receivables Turnover |
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1.08 |
1.49 |
-- |
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Asset Turnover |
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5.91 |
9.99 |
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LOCAL AGENCY
FURTHER INFORMATION
The
company provides the following services to its clients :
Road Transport of part and full truck loads
Road Transport of heavy and oversized cargos
Conventional Shipments on liner services or chartered tonnages
Port Handling
Customs Clearance
Air Freight
Container Services (FCL & LCL)
Port of Call Management at Indian ports
Global Partners :
Aprile Projects s.p.a, Italy
African Logistics Services, South Africa
BM Shipping Group s.p.a, Italy
Brinor International Shipping & Forwarding Limited, UK
CITIC Logistics, China
Cleve & Zonen BV, Netherland
Cargo Lines SA, France
deugro (Deutschland) Projekt GmbH, Germany
Global Freight International S.A., Spain
Gillespie-Munro Inc, Canada
Interocean Freight Services SDN BHD, Malaysia
Jagro Trans, Japan
Matras S.R.L., Italy
OMC, Korea
Poh Tiong Choon Shipping (Pte) Limited, Singapore
Pacorini Forwarding s.p.a, Italy
Sinotrans Shanghai (Group) Company Limited, China
STS-Skandinavisk Transport System, Sweden
Shipping and Airfreight Services, South Africa
The Sumitomo Warehouse Company Limited, Japan
Ultimate Shipping Freight L.L.C, U.A.E
Woojin Global Logistics, Korea
Worldwide Logistics Canada Inc, Canada
Zuest & Bachmeier Project GmbH, Germany
Fixed
Assets :
Furniture
& Fixtures, Air Conditioner, Typewriter, Television Set, Motor Car,
Telecommunication Equipments, Water Regulator Disp. and Computer MEC.
WEBSITE
DETAILS
Company
Profile
Founded on January 1st 2000,
Super Freight is the brand name for the logistic and ship support
services offered by both Value Freight (Mumbai) Private Limited and Value
Freight (Delhi) Private Limited.
Capt. B.M. Mandrekar and
Capt. Daya Saran are the main share holders, along with other employees who
have been a part of the core team that has since expanded the business. Super
Freight is a young company - with a team that is extensively experienced.
Independent, privately owned
and internationally active, the name Super Freight has stood for
all-round expertise in the field of International Freight Forwarding, Project
Transportation, Ship Support Services and Total Logistic Management.
Registered as a Multimodal Transport Operator with the Director General of Shipping, Government of India under License No. MTO / DGS / 240 / 2001.
Service Profile
Super Freight is a
specialist company in logistics, shipping and marine services. We provide
integrated services in the fields of project, import and export logistics as
well as ship services. The services are provided as either stand-alone service or
client-specific solutions.
Road Transport of part
and full truck loads
Road Transport of
heavy and oversized cargos
Conventional Shipments
on liner services or chartered tonnages
Port Handling
Customs Clearance
Air Freight
Container Services
(FCL & LCL)
Port of Call
Management at Indian ports
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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.44.11 |
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UK
Pound |
1 |
Rs.86.79 |
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Euro |
1 |
Rs.57.44 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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/normal. |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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