MIRA
INFORM REPORT
|
Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MASTERSTROKE FREIGHT FORWARDERS PRIVATE LIMITED |
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Registered Office : |
S M Plaza, No. 93, Armenien Street, 3rd Floor,
Chennai-600001, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.12.1999 |
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Com. Reg. No.: |
18-43841 |
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CIN No.: [Company
Identification No.] |
U63012TN19999PTC043841 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM05995D |
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PAN No.: [Permanent
Account No.] |
AACCM6444M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing services in the domain of custom clearance, freight
forwarding, clearing and forwarding, warehousing services and consolidated
services in India |
RATING &
COMMENTS
|
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 14000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its fields. Trade relations are
fair. Scale of activity is limited. Payments are reported as usually correct
and as per commitments. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Narayanan |
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Designation : |
Account incharge |
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Contact No.: |
91-9940031618 |
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Date : |
22.06.2008 |
LOCATIONS
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Registered Office : |
S M Plaza, No. 93, Armenien Street, 3rd Floor,
Chennai-600001, Tamilnadu, India |
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Tel. No.: |
91-44-42160222 |
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Mobile No.: |
91-9840033333 |
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Fax No.: |
91-44-25223360 |
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E-Mail : |
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Website : |
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Area : |
900 sq ft (Owned) |
DIRECTORS
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Name : |
Mr. Daivasifamani Sukumaran |
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Designation : |
Managing Director |
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Address : |
No. 103, Vinayakar Koil Street, 2nd Cross, Rajbai Nagar,
Avadi, Chennai-600071, Tamilnadu, India |
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Date of Birth/Age : |
12.01.1950 |
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Qualification : |
S.S.C |
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Date of Appointment : |
01.07.2000 |
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Name : |
Mr. Arunkumar Sukumaran |
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Designation : |
Director |
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Address : |
1st Floor, Flat No. 5, Rams Apartments, Old No. 78-A (New No.
181) TTK Road, Alwarpet, Chennai-600018, Tamilnadu, India |
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Date of Birth/Age : |
18.10.1981 |
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Qualification : |
M.B.A |
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Date of Appointment : |
01.07.2000 |
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Name : |
Mrs. Manimegalai Sukumaran |
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Designation : |
Directors |
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Address : |
1st Floor, Flat No. 5, Rams Apartments, Old No. 78-A (New
No. 181), TTK Road, Alwarpet, Chennai-600018, Tamilnadu, India |
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Date of Birth/Age : |
22.05.1961 |
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Date of Appointment : |
01.07.2000 |
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Name : |
Ms. Priya Sukumaran |
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Designation : |
Director |
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Address : |
House of Peace, Plot No. 103, Vinayakar Koil Street, Raj Bai Nagar,
Avadi, Chennai-600071, Tamilnadu, India |
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Date of Birth/Age : |
19.12.1988 |
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Qualification : |
Diploma in Electrical Engineering |
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Date of Appointment : |
01.02.2007 |
KEY EXECUTIVES
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Name : |
Mr. Narayanan |
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Designation : |
Account In charge |
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Mobile No.: |
91-9940031618 |
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Name : |
Mr. Natarajan |
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Designation : |
Head of Customer care and Operation Department |
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Mobile No. : |
91-9884135000 |
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Name : |
Mr. Chandrasekhar |
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Designation : |
Deputy Manager of Documentation and Operations |
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Mobile No. : |
91-9382933302 |
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Name : |
V G B Sharma |
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Designation : |
Secretary |
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Address: |
“Meenakshi”, Old No. 25 / New No. 45, 2nd
Circular Road, Jawahar ,Chennai. |
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Mobile No. : |
91-9444120175 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.06.2005
|
Names of Shareholders |
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No. of Shares |
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D Sukumaran and D. S. Mani |
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60000 |
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Manimegalai and D Sukumaran |
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20000 |
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S. Aurn Kumar and D. Sukumaran |
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20000 |
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Total |
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100000 |
Equity Share Breakup (Percentage of Total Equity)
As on 31.08.2007
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing services in the domain of custom clearance, freight
forwarding, clearing and forwarding, warehousing services and consolidated services
in India |
GENERAL
INFORMATION
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No. of Employees : |
17 |
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Bankers : |
·
Indian Bank ·
Citi Bank ·
ICICI Bank ·
HDFC Bank ·
Punjab National Bank |
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Facilities : |
Over Draft |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Moturi and Sankaran Chartered Accountant |
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Address : |
No. 12, 2nd Floor, Rosy Tower No. 7, Nungambakkam High
Road, Chennai-600034, Tamilnadu, India |
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Name : |
Mr. Pratap Kumar Chartered Accountant |
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Memberships : |
Ø Federation of
Freight Forwarders Association of India Ø Chennai Custom
House Agent Association Ø Bangalore Custom
House Agents Association Ø Indo-Australian
Chamber of Commerce Ø Indian –ASEAN
–Sri Lanka Chamber of Commerce Ø Customs approved
SOC and LOC operators and consolidation agents (MLO) |
CAPITAL STRUCTURE
As on 31.08.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
2.500 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.474 |
0.606 |
0.120 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.974 |
1.606 |
1.120 |
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LOAN FUNDS |
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1] Secured Loans |
0.779 |
1.429 |
2.736 |
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2] Unsecured Loans |
1.808 |
2.849 |
0.150 |
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TOTAL BORROWING |
2.587 |
4.278 |
2.886 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.561 |
5.884 |
4.006 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.922 |
3.695 |
3.554 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
1.507
|
1.331 |
0.389 |
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Cash & Bank Balances |
0.652
|
0.138 |
0.080 |
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Other Current Assets |
1.519
|
1.836 |
0.766 |
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Loans & Advances |
0.355
|
0.565 |
0.000 |
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Total
Current Assets |
4.033
|
3.870 |
1.235 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.634
|
0.979 |
0.327 |
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Provisions |
0.760
|
0.706 |
0.461 |
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Total
Current Liabilities |
1.394
|
1.685 |
0.788 |
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Net Current Assets |
2.639
|
2.185 |
0.447 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.004 |
0.005 |
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TOTAL |
5.561 |
5.884 |
4.006 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
6.684 |
6.539 |
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Other Income |
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0.057 |
0.149 |
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Total Income |
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6.741 |
6.688 |
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Profit/(Loss) Before Tax |
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0.555 |
0.730 |
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Provision for Taxation |
|
0.187 |
0.245 |
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Profit/(Loss) After Tax |
|
0.368 |
0.485 |
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Expenditures : |
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Other Expenditure |
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5.490 |
5.136 |
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Total Expenditure |
|
5.490 |
5.136 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.45
|
7.25 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
8.30
|
11.2 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.08
|
0.10 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.45 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
3.71 |
3.28 |
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Current Ratio (Current Asset/Current Liability) |
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2.89
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2.29 |
1.56 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
MASTERSTROKE FREIGHT FORWARDERS PRIVATE LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Liability Company |
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Income Tax Registration |
AACCM6444M |
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Name of Bank |
Indian Bank |
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Account Since |
2008 |
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Credibility Factors |
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IndiaMART Client Since |
2003 |
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Years of Establishment |
1999 |
Trade References :
Ø
T R Sangareavelu
Ø
Senco Trance
AS PER WEBSITE
Profile:
This company was established in 1993 and rechristened as
MASTERSTROKE in 1998. Their team comprises of certified professionals who are
trained in their own field of wok. In simple words they have the expertise to
handle any situations. Some of facts about Subject,
Ø They
are licensed by Govt. of India, Ministry of Finance to serve the industry and
Trade as an Approved Custom House Agent / Customs Broker. (CHA)
Ø They
are one of the licensed / registered users of container handling facilities of
Chennai Container Terminal Ltd. (CCTL).
Ø They
are also licensed to handle Shipper owned and Liner owned containers.(MLO).
Ø They
are also a member of Chennai Custom House Agents Association and the Federation
of Freight Forwarders Association of India, and other trade bodies.
Ø They
are members of Indo-Australian Chamber of Commerce and Indo-ASEAN-Sri Lanka
Chamber of Commerce.
Ø They
are authorized to handle Air and Sea consolidation.
Ø They
have their office only at Chennai Port.
With a rich industrial experience of over 26 years, Subject
was established in 1993 to provide world-class services for Custom Clearance,
freight forwarding, clearing and forwarding and warehousing services in India.
Their organisaiton and their services
have been approved by Ministry of Finance, Government of India, they are also
registered as a service provider with Government of India, Central Excise
Department.
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.42.82 |
|
UK Pound |
1 |
Rs.84.89 |
|
Euro |
1 |
Rs.68.07 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
36 |
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 |
|