MIRA
INFORM REPORT
|
Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
BABAJI SHIVRAM
CLEARING AND CARRIERS PRIVATE LIMITED |
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Registered
Office : |
407, Rex Cahmbers,
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Country : |
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
29.10.1976 |
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Com. Reg. No.: |
019297 |
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CIN No.: [Company Identification
No.] |
U60300MH1976PTC019297 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB128507F |
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PAN No.: [Permanent Account No.] |
AAACB0466A |
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Legal Form : |
Private Limited
Liability company |
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Line of
Business : |
Subject acts as a
clearing and forwarding agent. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 1600000 |
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Status : |
Clear |
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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 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
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Registered
Office : |
407, Rex Cahmbers,
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Tel. No.: |
91- 22- 2620016/17/18/19, 2612261, 2611159 |
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Fax No.: |
91-22-2610102 /
2626605 |
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E-Mail : |
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Branches : |
Babaji Shivram
Clearing & Carriers Pvt. Ltd 3rd
Floor, Opp. Sahar Air Cargo Complex Sahar, Andheri (E)
Mumbai-400 099 Tel No:
91-22-8327046, 8351594, 8214608 Fax No: 91-22-
8365405 Email : airportoffice@babajishivram.com
or Babaji Shivram Clearing & Carriers Pvt. Ltd 2nd Floor, Chennai- 600 001
Fax : +91 44 5267957 Email : babaji@vsnl.in or |
DIRECTORS
|
Name : |
Mr. Kirti Rajmal
Davada |
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Designation : |
Director |
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Address : |
901-2, Veena
Apartments, |
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Date of
Birth/Age : |
16.08.1963 |
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Date of
Appointment : |
25.09.2002 |
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Name : |
M/s. Ruby Kirti
Davada |
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Designation : |
Director |
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Address : |
901-2, Veena
Apartments, |
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Date of
Birth/Age : |
01.05.1966 |
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Date of
Appointment : |
25.09.2002 |
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Name : |
Mr. Amritrai
Jayanatilal Gandhi |
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Designation : |
Director |
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Address : |
Flat No:7, Jangala
Nagar, Karol Niwas, Malad(east), Mumbai;400097, |
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Date of
Birth/Age : |
26.10.1931 |
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Date of
Appointment : |
25.09.2002 |
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Name : |
Mr. Kumar Pal
Doshi |
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Designation : |
Director |
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Address : |
Flat No. 8, 9th
Floor |
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Date of
Birth/Age : |
07.03.1979 |
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Date of
Appointment : |
09.08.2002 |
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Name : |
Mr. Chandra Suresh
V.Dalal |
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Designation : |
Director |
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Address : |
Flat No: 15,
Landmarks Apartments, Sector – 14, Vashi new Mumbai;400703, Maharahtra |
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Date of
Birth/Age : |
17.06.1949 |
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Date of
Appointment : |
09.08.2002 |
MAJOR SHAREHOLDERS
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Names of
Shareholders |
|
No. of Shares |
|
Kiriti Rajmal
Davada |
|
285 |
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Kiriti Rajmal
Davada (HUF) |
|
95 |
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Ruby Kirit Davada |
|
190 |
|
Dhaval Kirti
Davada |
|
78 |
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Riddhi Kirti
Devada |
|
152 |
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Urjita Kirti
Davada |
|
200 |
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Category |
|
Percentage |
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Director or
relatives of director |
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Subject acts as a clearing
and forwarding agent. |
GENERAL INFORMATION
|
Bankers : |
HDFC Bank Limited HDFC Bank House,
Senapati Babat Marg, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M.V.Krishamoothi Chartered Accountant |
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Address : |
15, Srivalli, Rifle Range, Ghatkoper (west), Mumbia;400086, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Millions |
Issued, Subscribed & Paid-up Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs.100/-
each |
Rs.0.200
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.200 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
408.937 |
371.082 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
409.137 |
371.182 |
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LOAN FUNDS |
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1] Secured Loans |
|
23.304 |
37.315 |
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2] Unsecured Loans |
|
11.050 |
7.850 |
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TOTAL BORROWING |
|
34.354 |
45.165 |
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DEFERRED TAX LIABILITIES |
|
4.106 |
2.855 |
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TOTAL |
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447.597 |
419.202 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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110.677 |
86.252 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
150.990 |
151.194 |
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DEFERREX TAX ASSETS |
|
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 |
|
95.265 |
78.333 |
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Cash & Bank Balances |
|
25.970 |
28.640 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
264.593 |
282.797 |
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Total
Current Assets |
|
385.828 |
389.770 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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70.395 |
79.859 |
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Provisions |
|
129.503 |
128.155 |
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Total
Current Liabilities |
|
199.898 |
208.014 |
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Net Current Assets |
|
185.930 |
181.756 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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447.597 |
419.202 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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130.349 |
101.050 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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130.349 |
101.050 |
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Profit/(Loss) After Tax |
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76.083 |
52.571 |
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Expenditures : |
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Interest |
|
2.556 |
0.225 |
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Depreciation & Amortization |
|
8.023 |
6.067 |
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Other Expenditure |
|
43.687 |
42.187 |
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Total Expenditure |
|
54.266 |
48.479 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
58.37 |
52.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
58.37 |
52.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
11.75 |
8.38 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.19 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.57 |
0.611 |
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Current Ratio (Current Asset/Current Liability) |
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1.93 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
|
Corporate
identity number of the company |
U60300MH1976PTC019297 |
|
Name of the
company |
BABAJI SHIVRAM CLEARING AND CARRIERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
407, Rex Cahmbers, Walachand Harichanad marg, Ballard Estate,
Mumbai;400 038 |
|
This form is for |
Creation of Charge |
|
Type of charge |
Hypothecation |
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Particular of
charge holder |
HDFC Bank Limited HDFC Bank House,
Senapati Babat Marg, |
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Nature of
instrument creating charge |
Hypothecation
Agreement |
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Date of
instrument Creating the charge |
31.05.2006 |
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Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
9% rate of interest 25% Margin on
stocks 50% Margin on
Book Debts |
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Description of
the property charged |
Plant and
Machinery Furniture and
Fixture Book debts |
|
Particulars of
the property charged |
Hypothecation of
Stock, Book Debts and Machinery |
As Per Web site:
Trade and Commerce has been an essential part of life since
the early civilization as business started out between different countries.
There was immense activity with cargo been shipped across continents.
In the late seventies Trade and commerce reached amazing heights yet the custom
clearance business was gaining momentum. Keeping this in mind late Shri
R.D.Davada with his immense knowledge and pioneering spirit fueled growth and
prosperity laid the foundation stone of Babaji Shivram.
Since 1976, Babaji Shivram has a history of leadership in providing services
that challenge clients to think differently. They believe their professional
values mirror their clients' values.
Throughout their history, they have continued to raise the bar and look to the
future. And they have taken several actions to facilitate their future success:
Babaji
Shivram is an organization that puts the customer's need ahead of everything
else. Their internal culture fosters mutually beneficial relationships with their
valued customers and their people. Above all, they believe that client service
excellence is an integral part of the way they do business
They have been associated with leading corporate and Multinational companies
from different industries in
·
Birla
AT&T Ltd
·
Bridgestone
India Ltd
·
Becker
Huges
·
B
J Services
·
Birla
Erricson
·
Becton
& Dickenson
·
Castrol
·
Cairn
Energy
·
EBG
·
Enron
Oil & Gas India Ltd
·
FMC
·
Gillette
India Ltd
·
Hindustan
Lever Ltd
·
Huntsmann
·
Indian
Petro Chemicals Ltd
·
ICI
India Ltd
·
Ispat
Industries Ltd
·
Indo
Gulf Ltd
·
Jhonsonwax
·
Kimberly
Clark India Ltd
·
L
Oreal India Ltd
·
MegaVisa
Marketing & Solutions Ltd
·
M
I Overseas
·
Oriflame
·
Pizzeria
·
Quest
International
·
Rohm
& Hass
·
Rallis
India Ltd
·
RPG
Cellular Ltd
·
Schlumberger
Asia Services Ltd
·
Supreme
Petrochemicals Ltd
·
Toyo
Engineering Ltd
·
Universal
Cable Ltd
·
Vortex
·
Zodiac
Services:
Their Services are designed to go beyond just
providing "Capability" They help you to find solutions for the real
problems not only paying close attention to what you are looking for today but
by anticipating what you will need to gain a competitive advantage tomorrow.
Their proactive approach constantly contributes to their customer's bottom
line.
"A strong foundation of experts from the relevant field, futuristic
technology, well equipped infrastructure, and over 150 highly motivated and
experienced workforce explain why their clients take their unique service,
quality and efficiency for granted."
Quite simply Babaji Shivram has the capabilities
- Freight
Forwarding
- Door to Door
services
- Consultancy
services on Custom and Excise matters
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.40.91 |
|
|
1 |
Rs.80.46 |
|
Euro |
1 |
Rs.54.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
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|
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 |
|
52 |
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/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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|