MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
BWI LOGISTICS PRIVATE LIMITED |
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Registered Office : |
322, 1ST Floor, Hari Nagar, New Delhi – 110014 |
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Country : |
India |
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Date of Incorporation : |
13.07.2007 |
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Com. Reg. No.: |
165835 |
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CIN No.: [Company
Identification No.] |
U60231DL2007PTC165835 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB09862G |
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PAN No.: [Permanent
Account No.] |
AADCB1914G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is in the business of Customs Clearance |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 3372 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new and growing company. Directors are reported as
experienced, respectable and having satisfactory means of their cum. Trade relations
are fair. Payments are unknown. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
322, 1ST Floor, Hari Nagar, New Delhi – 110014, India |
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Tel. No.: |
91-11-26346743 |
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Mobile No.: |
91-931338944 / 9818218218 |
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Fax No.: |
91-11-26346502 |
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E-Mail : |
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Website : |
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Area : |
1200sq.fts |
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Location : |
Owned |
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Branches : |
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Mumbai Office |
57, 3rd Floor, Ashok Chamber, Devji Ratansi Marg Masjid
(East), Mumbai – 400009 (Mr. Sanjay Singh) |
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E-Mail : |
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Location : |
Rented |
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Moradabad Office : |
209, 2nd Floor, Super Bazar, Station Road, Moradabad –
244001, Uttar Pradesh (Mr. Vikas Rai) |
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Location : |
Rented |
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Ludhiana Office : |
Room No. 106, Virat Planet, Plot No. C – 146 Focal Point, Phase 5,
ludhiana, Punjab (Mr. Hemant Sharma) |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Balraj Kumar |
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Designation : |
Director |
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Address : |
E – 62, 3rd Floor, Lajpat NAgar – 2, New Delhi – 110024 |
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Date of Birth/Age : |
28.09.1976 |
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Qualification : |
Gradaute |
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Experience : |
9 years |
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Date of Appointment : |
13.07.2007 |
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Name : |
Mrs. Sunita Sharma |
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Designation : |
Director |
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Address : |
E – 62, 3rd Floor, Lajpat NAgar – 2, New Delhi – 110024 |
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Date of Birth/Age : |
22.07.1978 |
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Qualification : |
Graduate |
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Experience : |
7 years |
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Date of Appointment : |
13.07.2007 |
KEY EXECUTIVES
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Name : |
Mr. Rajender Singh |
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Designation : |
Manger (marketing) |
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E – Mail : |
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Mobile No.: |
91-9871479677 |
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Name : |
Mr. Kamal Kishore |
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Designation : |
Director |
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E – Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Balraj Kumar |
7500 |
75% |
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Mrs. Sunita Sharma |
2500 |
25% |
BUSINESS DETAILS
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Line of Business : |
Subject is in the business of Customs Clearance |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
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Customers : |
Delta Electronics, Noida |
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No. of Employees : |
35 |
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Bankers : |
Bank of India Lajpat Nagar, New Delhi - 10024 |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Mr. R.K. Sachdev |
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Address : |
B – 9, GX House, 187 A, Sant Nagar, East of Kailash, New Delhi –
110065 |
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E-Mail : |
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Associates/Subsidiaries : |
322, 1ST Floor, Hari Nagar, New Delhi – 110014 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Notes:
Blue World Impex was the proprietary company of Mr. Balraj Kumar and is
converted into BWI Logistics Private Limited
ABRIDGED BALANCE
SHEET OF BLUE WORLD IMPEX (GROUP COMPANY)
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.843 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.843 |
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LOAN FUNDS |
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1] Secured Loans |
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0.027 |
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2] Unsecured Loans |
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0.207 |
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TOTAL BORROWING |
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0.244 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.087 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.539 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.478 |
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Sundry Debtors |
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0.214 |
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Cash & Bank Balances |
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0.074 |
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Other Current Assets |
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0.010 |
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Loans & Advances |
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0.010 |
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Total
Current Assets |
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0.786 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.232 |
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Provisions |
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0.006 |
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Total
Current Liabilities |
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0.238 |
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Net Current Assets |
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0.548 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.087 |
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PROFIT & LOSS
ACCOUNT OF BLUE WORLD IMPEX (GROUP COMPANY)
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.888 |
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Other Income |
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0.002 |
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Total Income |
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0.890 |
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Profit/(Loss) Before Tax |
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0.426 |
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Provision for Taxation |
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0.040 |
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Profit/(Loss) After Tax |
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0.386 |
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Expenditures : |
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Advertisement |
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0.022 |
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Bank Charges |
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0.017 |
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Conveyance |
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0.003 |
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Electricity |
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0.014 |
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Printing and Stationery |
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0.002 |
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Staff Welfare |
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0.001 |
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Salaries, Wages, Bonus, etc. |
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0.204 |
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Telephone |
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0.087 |
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Traveling |
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0.046 |
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Interest |
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0.008 |
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Depreciation & Amortization |
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0.052 |
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Total Expenditure |
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0.456 |
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Expected Sales (2007 – 08) Rs.Rs.5.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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43.37 |
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Net Profit Margin (PBT/Sales) |
(%) |
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47.97 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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32.15 |
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Return on Investment (ROI) (PBT/Networth) |
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0.50 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.28 |
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Current Ratio (Current Asset/Current Liability) |
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3.30 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web Details
Attached:
Company Profile:
Subject who shortly has known as BWI
has been established in the year 2006, in the field of freight forwarding
customs clearing to provide one time solution for cargo handling. They have the
staff of more than 15 years experience in the field.
Subject and Group Companies
are being managed efficiently by a team of well experienced and professionally
qualified personnel in their respective fields of activity. The management of
company comprises of Directors and Managers who are having vast experience in
shipping and allied activities, cargo operations and general business
management.
Business Activities
Subject is in the business of Customs
Clearance and in conjunction with group companies can offer following
activities:
·
Custom clearance of import and export shipment.
·
Multi Modal Transport Operations
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Freight Forwarding
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Consolidation of sea & Air cargo (Exports/import)
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Warehousing facility for cargo
· Co-ordination with various nodal agencies
for expeditious movement of cargoes from ICDs to gateway ports.
The company is
handling both LCL / FCL consolidation for various worldwide destinations. It
has own agency network all over the world to offer door to door service to its
clients using various hubs in Far East, Europe,
USA Middle East. The company can serve effectively efficiently to all the
destinations round the globe.
The company handles movements of domestic cargo by Air, Rail and Road through
out the country. The company offers door to door services round the clock to
all major cities like Mumbai, Ludhiana, Jaipur and Chandigarh Etc. The company
is also engaged in Air freight forwarding.
Business Volume
BWI is handling FCLs LCLs comprising of a range of commodities such as
Garments, Brass Artware, Handicrafts, Cotton Piece goods, Auto parts, bicycles
and parts, leather leather goods, Footwear, Hand Tools, castings, forgings
etc..
BWI has maintained
good relations with all its customers by serving them in a professional manner
with an endeavor to render a high level of quality service to them. Client
retention is their motto.
Future Plans
The Group has future to open new offices in Kolkata, Kandla and Jaipur
to cater to the needs of exporters importers at these locations. This would assist
the exporters / importers to get cargo close to their door steps and assist
them in offering a true inter modal service to them.
Subject is offering one time
solution to the logistics and custom clearance requirements. Company is
medium size but believes in high quality service, and always keeps focused on
offering high quality service.
In this dynamic
and competitive world of global marketing, expedite order delivery has become
imperative this not only saves time & money but also creates markets
goodwill that can effectively increase sales and consolidate customers
relation.
They offer
multimodal transportation, Air, Ocean, Customs Clearance & Warehousing. All
with single source control, as well as professional, personalized customer
service, recognized as the most responsive in the business. Their extensive
network of agents / partners makes SWIFT one of the smartest corporation
offering transport and logistics services under one management umbrella.
They offer multi
-function service, by providing all export import related activities under one
roof. That saves time, which is most precious in this busy trend.
WHY SUBJECT IS RIGHT CHOICE ?
- First and very most reason single hand
solution for custom clearance and freight forwarding requirement.
- 24hrs & 365 Days Cargo care.
- Economical &competitive freight
rates.
- Safe & Secure Cargo handling
- Company own CHA License.
They understand the gravity of transit time, and hence they put their
best effort to clear any given shipment at the earliest time.
- The factor most crucial to Cargo
Movement is Anxiety. Their stress is on reducing the anxiety-factor of
their clients to Zero-level. They strive to attend to the stress factor at
its component level.
- They advise the most appropriate
statute for Customs levy, ensuring the client is not unnecessarily
overcharged.
- They have a mix of experience and young
team of dedicated individuals who have been inculcated with a sense of
responsibility
Although they have
a wide variety of services to offer, their most important tool is their
personalized service. They take a personal interest in every shipment they
handle.
Services:
1. Custom
Clearance:
Custom Documentation
Carting /Receiving goods
Examination of shipment
Handling of stuffing & de-stuffing at ports and customer warehouse.
2.Road Transportation :
Cargo pick up facility roudnd the clock by own fleets of close body
trucks
Transport of goods from port of discharge to hinterland destination.
Offer door to door delivery of cargo
3. Air
Freight
Door to door delivery to most world wide locations
World wide consolidation
Option of carriers based on your cargo needs
Project works
4.Sea Freight
World wide cargo consolidation
Handling FCL /LCL Shipments to wild wide destinations.
Project cargo handling
Ocean Freight forwarding .
5.Domestic Door to delivery
Domestic door to door delivery movement (by Rail/Air).
Cargo Pick up & delivery round the clock
Time bond guaranteed door delivery.
Ware housing and Distributions of cargo.
6. Special service
SGS inspections
Cargo insurance
Carting & packaging
Project handling
Consultancy
Ware housing
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 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.39.68 |
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UK Pound |
1 |
Rs.81.95 |
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Euro |
1 |
Rs.58.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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27 |
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 |
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