MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMMITTED CARGO CARE PRIVATE LIMITED |
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Registered Office : |
85, Manohar Kunj, Gautam Nagar, New Delhi – 110049 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.10.1998 |
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Com. Reg. No.: |
55- 96746 |
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CIN No.: [Company
Identification No.] |
U63090DL1998PTC096746 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC04543A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Service Provider of Ocean Cargo, Air
Freight, Custom Clearance, Document Processing, Multi Modal Facility,
Packaging and Warehousing, 3pl and Supply Chain Management, Tracking and
Tracing, International Freight Forwarders, Custom Brokers, Consolidators, 4PL
and Complete D2D Logistics Solution. |
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 47612 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company has could not make much headway. Its
profit margin is under tremendous pressure and incurred substantial loss in
2006-07. Its payments are reported as slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
85, Manohar Kunj, Gautam Nagar, New Delhi – 110049, India |
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Tel. No.: |
91-11-45610111/ 42781100/ 25654835 |
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Mobile : |
91-9811800009 |
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Fax No.: |
91-11-45620111 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Nitin Bharal |
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Designation : |
Whole Time Director |
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Address : |
85, Manohar Kunj, Gautam Nagar, New Delhi – 110049, India |
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Date of Birth/Age : |
08.09.1972 |
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Date of Appointment : |
20.10.1998 |
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Name : |
Mr. Narendra Singh Bisht |
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Designation : |
Whole Time Director |
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Address : |
2/5/233, Pocket 5, Sector 2, Rohini, Delhi |
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Date of Birth/Age : |
02.02.1969 |
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Date of Appointment : |
20.10.1998 |
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Name : |
Mr. Rajeev Sharma |
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Designation : |
Whole Time Director |
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Address : |
116 B, AD Block, Pitampura, Delhi |
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Date of Birth/Age : |
07.05.1967 |
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Date of Appointment : |
20.10.1998 |
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Name : |
Mr. Yaspal Arora |
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Designation : |
Whole Time Director |
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Address : |
59/5 First Floor, Ashok Nagar, New Delhi |
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Date of Birth/Age : |
26.08.1967 |
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Date of Appointment : |
20.10.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.10.2006)
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Names of Shareholders |
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No. of Shares |
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Mr. Yaspal Arora |
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59800 |
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Mr. Narendra Bisht |
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5000 |
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Mr. Rajeev Sharma |
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58200 |
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Mr. Nitin Bharal |
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122900 |
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Mrs. Sapna Arora |
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12100 |
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Mr. Neeraj Bisht |
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18200 |
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Mrs. Sonia Bharal |
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1600 |
(As on 31.03.2007)
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Category |
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Percentage |
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Foreign Holding (FIIs, FCs, FFIs, NRIs, OCBs, or Others) |
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13.55 |
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Directors or relatives of directors |
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86.45 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Ocean Cargo, Air
Freight, Custom Clearance, Document Processing, Multi Modal Facility,
Packaging and Warehousing, 3pl and Supply Chain Management, Tracking and
Tracing, International Freight Forwarders, Custom Brokers, Consolidators, 4PL
and Complete D2D Logistics Solution. |
GENERAL
INFORMATION
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Bankers : |
S-4, Green Park
Extension, New Delhi, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Rprp and Associates Chartered Accountant |
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Address : |
327, Ansal Chambers, Bhkaji Cama Place, New Delhi – 110066, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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465390 |
Equity Shares |
Rs.10/- each |
Rs.4.654 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.654 |
1.245 |
1.245 |
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2] Share Application Money |
0.000 |
7.432 |
1.000 |
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3] Reserves & Surplus |
7.249 |
4.345 |
2.672 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.903 |
13.022 |
4.917 |
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LOAN FUNDS |
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1] Secured Loans |
5.555 |
6.319 |
2.736 |
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2] Unsecured Loans |
0.987 |
1.840 |
4.485 |
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TOTAL BORROWING |
6.542 |
8.159 |
7.221 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.445 |
21.181 |
12.138 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.049 |
5.372 |
3.012 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
2.528 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
26.544
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25.730 |
25.742 |
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Cash & Bank Balances |
0.098
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2.357 |
1.805 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
6.258
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4.895 |
3.691 |
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Total
Current Assets |
32.900
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32.982 |
31.238 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
8.729
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14.700 |
20.430 |
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Provisions |
13.444
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2.474 |
1.684 |
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Total
Current Liabilities |
22.173
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17.174 |
22.114 |
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Net Current Assets |
10.727
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15.808 |
9.124 |
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MISCELLANEOUS EXPENSES |
0.141 |
0.001 |
0.002 |
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TOTAL |
18.445 |
21.181 |
12.138 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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11.550 |
12.042 |
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Other Income |
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0.175 |
0.289 |
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Total Income |
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11.725 |
12.331 |
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Profit/(Loss) Before Tax |
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(3.562) |
2.654 |
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Provision for Taxation |
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1.735 |
0.982 |
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Profit/(Loss) After Tax |
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(5.297) |
1.672 |
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Export Value |
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5.243 |
24.251 |
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Expenditures : |
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Financial Charges |
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0.667 |
0.654 |
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Depreciation |
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0.948 |
0.858 |
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Other Expenditure |
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13.672 |
8.165 |
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Total Expenditure |
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15.287 |
9.677 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
(45.18) |
13.56 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
(30.84) |
22.04 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(9.39)
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6.92 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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(0.30)
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0.20 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.41
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1.94 |
5.97 |
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Current Ratio (Current Asset/Current Liability) |
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1.48
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1.92 |
1.41 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
COMMITTED CARGO CARE PRIVATE LIMITED |
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Presented By |
Bank of Punjab
Limited and Committed Cargo
Care Private Limited |
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1) Date and description of instrument creating the change |
Agreement Dated
17.02.2003 DPN Dated
17.02.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.289 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Mahindra Pick up Vehicle to be financed by the bank. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
First Charge on
above vehicle is to secure the loan sanctioned to the company to the extent
of Rs.0.289 Millions Interests is chargeable at 12% p.a. Wight monthly rests.
The Loan is repayable in 36 monthly installments of Rs.0.009 Million each. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Punjab
Limited S-4, Green Park
Extension, New Delhi, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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.39.97 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.62.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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33 |
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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