MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ADMIRAL LOGISTICS (INDA) PRIVATE LIMITED |
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Registered Office : |
308, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
November 2005 |
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Com. Reg. No.: |
047928 |
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CIN No.: [Company
Identification No.] |
U35111AP2005PTC047928 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA05693C |
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PAN No.: [Permanent
Account No.] |
AAFCA4550P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject provides the following services: Cargo Services, Freight
Forwarding Services, Transportation Services, Shipping Agents, NVOCC, Steamer Agents, Shipping Services,
International Freight Forwarder, Customs Clearing Agents |
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 600 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company acting as clearing and
forwarding agents. Directors are young and energetic. Trade relations are
fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
308, |
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Tel. No.: |
91-40-27845470 / 32914165 / 27892361 |
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Mobile No.: |
91-9963439922 / 9348439922 |
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Fax No.: |
91-40-27891338 |
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E-Mail : |
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Website : |
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Area : |
1055sq.fts |
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Location : |
Rented |
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Branches : |
No. 9, Tel No.: 91-80-32503200 Area: 750sq.fts Location: Rented 308,Swapna
Lok, Chennai : No:26 (Old No.105),1st
Floor , Area: 1000sq.fts Location:
Rented Mumbai : (Forwarding Division)
Mumbai : (Cha Division)
Fax.
91-33-22817904
Vizag :
Overseas Office: ˛
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Admiral Container Lines (M) SDN BHD No. 7 / 2nd Floor, Jalan Tiara 3, Bandar Baru Klang, 41150
Klang, Selangor Darul Ehsan, Malaysia Tel No.: 6 03 3343 2110 Fax No.: 6 03 3341 2813 |
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DIRECTORS
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Name : |
Mr. Chandra Shekhar Chavan |
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Designation : |
Chairman cum Managing Director |
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Date of Birth/Age : |
32 years |
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Qualification : |
Post Graduate |
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Name : |
Mrs. Geeta Chavan |
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Designation : |
Director |
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Date of Birth/Age : |
29 years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Subject provides the following services: Cargo Services, Freight
Forwarding Services, Transportation Services, Shipping Agents, NVOCC, Steamer Agents, Shipping Services, International
Freight Forwarder, Customs Clearing Agents |
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Services : |
The aforesaid services can be broadly
categorized as-
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Imports : |
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Products : |
Furniture |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30 days and 45 days) |
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Purchasing : |
Cash and Credit (30 days and 45 days) |
GENERAL INFORMATION
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Customers : |
Companies |
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No. of Employees : |
30 (all Branches) |
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Bankers : |
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Union Bank of ˛
Centurion Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sudhakar and Company Chartered Accountants |
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Address : |
Secunderabad |
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Mobile No.: |
91-9849040650 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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]
ABRIDGED BALANCE
SHEET
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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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0.100 |
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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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0.050 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.150 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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1.269 |
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TOTAL BORROWING |
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1.269 |
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DEFERRED TAX LIABILITIES |
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0.003 |
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TOTAL |
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1.422 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.072 |
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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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Sundry Debtors |
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Cash & Bank Balances |
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1.906 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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1.906 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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0.578 |
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Total
Current Liabilities |
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0.578 |
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Net Current Assets |
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1.328 |
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MISCELLANEOUS EXPENSES |
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0.022 |
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TOTAL |
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1.422 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.000 |
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Other Income |
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1.706 |
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Total Income |
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1.706 |
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Profit/(Loss) Before Tax |
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0.072 |
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Provision for Taxation |
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0.022 |
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Profit/(Loss) After Tax |
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0.050 |
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Expenditures : |
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Administrative Expenses |
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1.618 |
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Depreciation & Amortization |
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0.015 |
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Total Expenditure |
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1.633 |
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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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2.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.03 |
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Return on Investment (ROI) (PBT/Networth) |
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0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.85 |
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Current Ratio (Current Asset/Current Liability) |
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3.29 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
˛
VST Industries
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Alumego
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Satyam Computer Services
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Ivax Paper chemicals
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HSBC
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2417
As Per Web Details
Company Profile:
Subject
is a Cargo Services, Freight Forwarding
Services, Transportation Services, Shipping Agents, NVOCC, Steamer
Agents, Shipping Services, International Freight Forwarder, Customs Clearing
Agents that manages the movement of cargo via sea air & land to
destinations worldwide.
At the beginning of each new business relationship, they
take the time to discover how they can best meet those needs, expectations and
challenges to develop a complete service package to help you develop your
competitive advantage.
They are your full
service logistics providers. Subject develops comprehensive service
plans tailored to meet your specific requirements. This is accomplished by
learning their customers' exact objectives with regard to their internal and
external requirements, thus ensuring that Globalink will provide your company
with first-class, quality services more consistently than any other forwardersized
firm.
Objective
Subject objective is to exceed the expectations of their
customers through total quality management. Their goal is to provide cost
effective alternatives to help their customers to realize their goals
Vision
To be the best customer service team in their profession.
To develop and maintain a first-class infrastructure to ensure employee
satisfaction, which drives customer loyalty, which leads to sustained profit
growth, which creates improved company value.
Be a brand known for quality, Reliability and consistency.
Market Position
Since its inception subject has come to be recognized as one
of the most successful independent freight management companies operating in
Management Setup
With
their global network, they aim to be the most reliable company in the business
with an inspired, people-driven and dedicated approach to serving their valued
customers.
While they are proficient in offering worldwide moving, freight forwarding and
any related or special services, they are not be satisfied with only that.
Although
a team of young medium sized firm it was founded by experienced and motivated
staff in the freight forwarding industry.
Supported by its own offices, as well as its agents and partners worldwide,
Admiral employs a highly trained team of professionals that follows up and
follows through on each and every transaction they manage
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 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.39.33 |
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1 |
Rs.79.74 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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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
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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. |
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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