%20PRIVATE%20LIMITED-%2004-Jun-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
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Name : |
EGL EAGLE GLOBAL LOGISTICS ( |
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Formerly Known As : |
CIRCLE FREIGHT INTERNATIONAL ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2001 |
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Date of Incorporation : |
17.06.1985 |
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Com. Reg. No.: |
55-21230 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC021230 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE02244E / MUME04736E |
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PAN No.: [Permanent
Account No.] |
AABCE2308R / AAACC2674H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject acts as International Freight Forwarding Agents. |
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 260000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
-- |
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Comments : |
Subject is a well-established and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. Their trade relations are reported as fair. Payments are reported
as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-11-2677 9271 - 74 / 26779294 |
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Fax No.: |
91-11-2677 9057 / 9294 |
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E-Mail : |
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Website : |
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Area : |
1,000 sq. fts.[Rented] |
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Head Office : |
401, |
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Tel. No.: |
91-22-2832 2945 / 4887 / 2836 3193 |
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Fax No.: |
91-22-2836 7488 / 8966 |
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Branch Office : |
401-4054 M, Everest Chambers, Next to Star, Marol, A. K. Road, Andheri
Mumbai – 400059,, Maharashtra, India |
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Branches : |
Located at
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DIRECTORS
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Name : |
Mr. Kapil Dev Dutta |
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Designation : |
Managing Director |
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Year
of Birth : |
1952 |
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Qualification
: |
B.Sc. |
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Previous
Employment : |
Continental Carrier Limited, |
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Name : |
Mr. Peter Singleton |
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Designation : |
Director |
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Name : |
Mr. Suresh Malhotra |
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Designation : |
Director |
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Name : |
Mr. Elijio Venegas Serrano |
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Designation : |
Director |
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Name : |
Mr. Steven M. Herreid |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Circle Overseas Corporation Inc., |
655,972 |
99.99 |
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Shreyas M. Munim |
4 |
0.01 |
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TOTAL |
655,976 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject acts as International Freight Forwarding Agents. |
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Products : |
Freight Forwards / Cargo Services |
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Terms : |
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Selling : |
Cash, contract or other terms |
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Purchasing : |
Cash, contract or other terms |
GENERAL INFORMATION
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Customers : |
Wholesalers, Manufacturers, Retailers and Government Bodies |
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No. of Employees : |
85 |
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Bankers : |
Ř
Bank of Ř
Credit |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse & Company Chartered Accountants |
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Parent Company : |
Circle Overseas Corporation Inc. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs.10/-
Each |
Rs.
10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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655,976 |
Equity Shares |
Rs.10/-
Each |
Rs.
6.559 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No subsequent financials could be available from any sources. Management remained non-cooperative during
current investigation.
However, efforts are made to convince top lever management and if they
provide more details, we shall supplement the same.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2001 |
31.03.2000 |
31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.559 |
6.559 |
6.559 |
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2] Reserves & Surplus |
59.238 |
35.530 |
13.213 |
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NETWORTH |
65.797 |
42.089 |
19.772 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
65.797 |
42.089 |
19.772 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.865 |
21.740 |
16.409 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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107.541 |
114.461 |
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Cash & Bank Balances |
175.111
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52.184 |
15.581 |
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Other Current Assets |
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4.053 |
0.000 |
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Loans & Advances |
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23.503 |
7.832 |
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Total
Current Assets |
175.111
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187.281 |
137.874 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
128.179 |
161.202 |
134.062 |
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Provisions |
0.000 |
5.730 |
0.449 |
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Total
Current Liabilities |
128.179
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166.932 |
134.511 |
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Net Current Assets |
46.932 |
20.349 |
3.363 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
65.797 |
42.089 |
19.772 |
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%20PRIVATE%20LIMITED-%2004-Jun-2007_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2001 [Estimated] |
31.03.2000 |
31.03.1999 |
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Sales Turnover |
200.000 |
165.883 |
130.420 |
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[including other income] |
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Profit/(Loss) Before Tax |
NA |
34.009 |
22.614 |
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Provision for Taxation |
NA |
11.692 |
8.863 |
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Profit/(Loss) After Tax |
NA |
22.317 |
13.751 |
KEY RATIOS
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
31.03.1999 |
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PAT / Total Income |
(%) |
NA
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13.45 |
10.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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20.50 |
17.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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16.27 |
14.66 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.81 |
1.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.95
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3.97 |
6.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.37
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1.12 |
1.03 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The company was originally incorporated on 17th
June, 1985 at
The name of the company was changed to present with effect
from 12th December, 2000.
The subject has shifted its registered office from
1215-1216,
The company is licensed by ‘IATA’.
As per website
Overview
EGL is a leading provider of
supply chain solutions, demonstrating core competencies in transportation
services, logistics management and information technology. Believing that these
primary service components impact every stage of the supply chain, EGL utilizes
its expertise and global infrastructure of over 400 offices and agents in more
than 100 countries to establish a competitive advantage for its
customers.
Committed to operational
excellence and superior customer service, EGL’s network of global professionals
remain focused on streamlining processes, improving information and providing
supply and demand strategies that result in profitability for their large base
of local, regional and multi-national customers. EGL maintains its loyal
customer base by leveraging the collective knowledge and performance of each
and every employee whose dedicated efforts result in total customer
satisfaction.
EGL’s Vision
EGL will provide employees with
a safe and secure environment and an opportunity for personal and professional
development in the transportation and logistics industry.
EGL will provide customers with
personalized customer service and supply chain solutions throughout the
Company’s global network.
EGL will provide stakeholders with
sustained profit growth to create improved shareholder value.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.47 |
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1 |
Rs.80.28 |
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Euro |
1 |
Rs.54.43 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<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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