MIRA
INFORM REPORT
|
Report Date : |
28.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
P. S. BEDI AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
D – 10, 3rd floor, South Extension, Park II, New Delhi
110049 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
23.08.1982 |
|
|
|
|
Com. Reg. No.: |
14227 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1982PTC014227 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
IATA Cargo Agent. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are
fair. Business is active. Payments are reported as usually correct
and as per commitments. The Company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
D – 10, 3rd floor, South Extension, Park II, New Delhi
110049, India |
|
Tel. No.: |
91-11-41615160 / 5161 / 5162 |
|
Fax No.: |
91-11-29239989 / 51552911 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Branches : |
DELHI Branch Office - Delhi MUMBAI CHENNAI KOLKATA LUDHIANA CHANDIGARH BANGALORE KANDLA JAIPUR |
DIRECTORS
|
Name : |
Mr. Pritpal Singh Bedi |
|
Designation : |
Chairman |
|
Address : |
C – 339, Defence Colony, New Delhi 110024, India |
|
Date of Birth/Age : |
22.06.1922 |
|
Experience : |
55 Years |
|
|
|
|
Name : |
Mr. Rupinder Singh Bedi |
|
Designation : |
Director |
|
Address : |
C – 339, Defence Colony, New Delhi 110024, India |
|
Date of Birth/Age : |
14.01.1952 |
|
Qualification : |
Graduate |
|
Experience : |
30 Years |
|
|
|
|
Name : |
Mr. Mahinder Singh Bedi |
|
Designation : |
Director |
|
Address : |
C – 339, Defence Colony, New Delhi 110024, India |
|
Date of Birth/Age : |
23.02.1953 |
|
Qualification : |
Graduate |
|
Experience : |
29 Years |
|
|
|
|
Name : |
Mr. Harinder Singh |
|
Designation : |
Director |
|
Address : |
C – 339, Defence Colony, New Delhi 110024, India |
|
Date of Birth/Age : |
18.11.1956 |
|
Qualification : |
Graduate |
|
Experience : |
25 Years |
KEY EXECUTIVES
|
Name : |
Mr. Bawa |
|
Designation : |
Administrative + HR Head |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Pritpal Singh Bedi |
|
250 |
|
Rupinder Singh Bedi |
|
3450 |
|
Mahinder Singh Bedi |
|
3450 |
|
Harminder Singh Bedi |
|
3450 |
|
Total |
|
10600 |
BUSINESS DETAILS
|
Line of Business : |
IATA Cargo Agent. |
GENERAL
INFORMATION
|
No. of Employees in Group : |
300 |
|
|
|
|
Bankers : |
Ř State Bank of
India South Extension, Part I, New Delhi 110049, India Ř Central Bank of
India Defence Colony, New Delhi 110024, India Ř Standard
Chartered Bank 10, Sansad Marg, New Delhi 110001, India Ř Citi Bank, New
Delhi Ř Deutch Bank, New
Delhi |
|
|
|
|
Facilities : |
Ř State Bank of
India Rs. 4.150 Millions Ř Central Bank of
India Rs. 5.000 Millions Ř Standard
Chartered Bank Rs. 5.000
Millions |
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
Satisfactory |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mohan L. Jain and Company Chartered Accountants |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
507, Prabhat Kiran, Rajendra Place, New Delhi 10008, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Group Companies : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10600 |
Equity Shares |
Rs. 100/-
each |
Rs.1.060
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.060 |
1.060 |
1.060 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.755 |
30.755 |
25.973 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31.815 |
31.815 |
27.033 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.238 |
44.238 |
31.314 |
|
|
2] Unsecured Loans |
20.266 |
20.266 |
2.770 |
|
|
TOTAL BORROWING |
64.504 |
64.504 |
34.084 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
96.319 |
96.319 |
61.117 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.003 |
9.004 |
6.575 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
31.800 |
31.800 |
19.295 |
|
|
DEFERREX TAX ASSETS |
0.059 |
0.059 |
0.021 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
54.092
|
54.092 |
37.483 |
|
|
Cash & Bank Balances |
3.077
|
3.077 |
3.056 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
23.299
|
23.298 |
12.828 |
|
Total
Current Assets |
80.468
|
80.467 |
53.367 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
25.011
|
25.011 |
18.141 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
25.011
|
25.011 |
18.141 |
|
|
Net Current Assets |
55.457
|
55.456 |
35.226 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
96.319 |
96.319 |
61.117 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
230.000 |
NA |
|
|
|
|
|
|
Group Sales Turnover |
|
490.000 |
450.000 |
Expected Sales (2007-08) : Rs. 550.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.81
|
2.81 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.21
|
3.22 |
2.94 |
LOCAL AGENCY
FURTHER INFORMATION
GROUP PROFILE:
P. S. BEDI GROUP
Registered Office Address: D – 10, IIIrd floor, South Extension, Park
II, New Delhi 110049, India
Group Started: 1975
Line of Business:
§
Consultancy on Customs, Central Excise and
Import/Export Trade Control Laws.
§
IATA Cargo Agent
§
Engineering Services, Manpower Provisioning,
Business Planning, Logistic Management,
Strategic Outsourcing, Resource
Management etc.
§
Medical Transcription Services
§
Export House
§
Alliance with Nikon, the Geotecs Company,
Japan, as their distributor for sale of survey
Instruments in India
AS PER WEBSITE DETAILS:
PROFILE:
Subject began in 1975 as a small consultancy firm and it continues today as a large organization with a staff strength of over 300 and a network of offices across the country.
It is also a story of commitment, achievement and integrity.
PSBC is a global
logistics service provider, rendering services for Customs Clearance,
International Freight Forwarding, Warehousing and Distribution. The company is
a leading Customs House Agent in India with an all India presence. It has a
large infrastructure, a staff strength of over 300 persons and offices at New
Delhi, Mumbai, Chennai, Bangalore, Hyderabad, Cochin, Kandla, Chandigarh &
Ludhiana and associate offices in other important cities in India.
The P.S. Bedi Group started business as a consultancy firm for rendering consultancy on matters pertaining to customs, central excise, and import / export trade control laws. The expertise in the customs and central excise law, led the company to graduate from the consultancy business into customs brokerage and become Government of India registered customs house agents at Delhi, Mumbai, Chennai, Kandla and Ludhiana.
In 1986 the P.S. Bedi Group commenced the business of International Freight Forwarding and became an integrated logistics company. The Group now has as its agents some of the most reputed International Freight Forwarders worldwide. Some of these agents are amongst the biggest and best forwarders in their respective countries.
Understanding the needs of large multinational clients setting up base in India, the P.S. Bedi Group diversified into supply of technical manpower, project feasibility studies and establishing business centers, with the launch of Shotam Consultants Pvt. Ltd. Shotam is now associated with some of the largest thermal power plants, hydro electric and heavy engineering projects.
The Group's entry into the Passengers Sales Business in association with ModiLuft Airline and subsequently in Courier & Cargo Business has expanded the Group activities in connected synergistic fields, which has provided it with greater flexibility, stability and balance. The Group entered the field of Marketing & Distribution with the inception of Shotam Instruments, as a marketing partner for Nikon for their Survey Instruments. The Group's latest entry is in the field IT enabled remote processing services. Shotam Centre for Medical Transcription ( a division of Shotam Consultants Pvt. Ltd.), has set up a state of the art production and training facility for Medical Transcription.
Over a period of 26 years the P.S. Bedi Group has built a formidable reputation in the field of logistics by providing efficient and cost-effective services to a large number of clients covering a broad spectrum of industry. Their corporate ethos is to serve to perfection and this is embodied in their motto "THEY SERVE".
THEIR HISTORY:
|
1960: |
Forays into the real estate field, the traditional Bedi
family business since 1930. |
|
|
1975: |
P.S. Bedi and Company is formed as a consulting firm for
Customs, Central Excise and Import Trade Control Matters. |
|
|
1985: |
Group restructures and decides to concentrate on its core
competencies. Sheds chartered accountancy and manufacturing business and
ventures into Customs Brokerage. |
|
|
1986: |
Further strengthening of the core business-logistics, the
group forays into the field of international freight forwarding, spreading
its association within a few years to over 50 countries. |
|
|
1987: |
More branches are established and the group attains an all
India presence with offices at Mumbai, Chennai, Kandla, Calcutta, and
Ludhiana. |
|
|
1989: |
With a large multinational client base, the group ventures
into Project Support Services with the inception of Shotam Consultants
Private Limited |
|
|
1992: |
P.S. Bedi and Company becomes a member of FIATA. |
|
|
1993: |
P.S. Bedi and Company Private Limited was selected by
Modiluft, a world class airline set up by the renowned Modi Group of
companies in association with Lufthansa, as their General Sales Agent for
Northern India. |
|
|
1995: |
Shotam Consultants Private Limited ventures into
Engineering Support Services with overseas engineering supervision contracts
for projects in Syria, Kuwait, Saudi Arabia, Dubai and Japan. |
|
|
1995: |
Shotam Tours & Travels is launched. The company
provides travel related services with main concentration on domestic and
overseas passenger sales. |
|
|
1997: |
P.S. Bedi & Company Private Limited becomes IATA Cargo
Agent and forms associations with strategic partners for attaining ODC and Heavy
Load Transportation capabilities including barge operations. In the logistic
field, expansion takes place into Warehousing and Distribution. |
|
|
1997: |
Shotam International is established and the P.S. Bedi
Group enters the field of exports. |
|
|
1999: |
The new group company, Shotam Instruments Private Limited
is appointed as sole distributor by Nikon Corporation, Japan for sale of
their survey equipment in India. |
|
|
2000: |
The group enters the field of IT enabled remote processing
transcription services with the setting up of Shotam Centre for Medical
Transcription |
|
|
2004: |
P.S. Bedi Group embarks upon change management. The
business focus in the logistics shifts to Freight Forwarding. The group also
launches PSB Logistics Private Limited for consolidating logistics business
under one brand. |
|
|
2005: |
P.S. Bedi & Company CHA
brokerage arm merged with P.S. Bedi & Company Private Limited. The group
open offices at Ludhiana and Jaipur. The group embarks upon defence logistics
and exhibition logistics business. |
|
|
2006: |
Renewed thrust on freight
forwarding, defence logistics, project logistics and exhibition business thru
strengthening of organization at the national and branch levels. |
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 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. 39.73 |
|
UK Pound |
1 |
Rs. 78.96 |
|
Euro |
1 |
Rs. 59.60 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|