MIRA
INFORM REPORT
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Report Date : |
09.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNDERSONS LOGISTICS PRIVATE LIMITED |
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Formerly Known As : |
SUNDERSONS CONSULTANTS PRIVATE LIMITED |
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Registered Office : |
Orient House, Ground Floor, Adi Marzban Path, Ballard Estate, Mumbai –
400038, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.02.1983 |
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Com. Reg. No.: |
029390 |
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CIN No.: [Company
Identification No.] |
U63040MH1983PTC029390 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Service Provider of Shipping Logistics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 14000 |
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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 well – established and reputed company having
satisfactory track records. Trade relations are fair. Business is active. No Payment
records could be made available due to the nature of its activity. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dasan |
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Designation : |
Accounts Manager |
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Date : |
05.05.2008 |
LOCATIONS
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Registered Office : |
Orient House, Ground Floor, Adi Marzban Path, Ballard Estate, Mumbai –
400038, Maharashtra, India |
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Tel. No.: |
91-22-66333888/ 999/ 22280562 |
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Fax No.: |
91-22-22611144 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Godown : |
Mumbra |
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Area : |
2000 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Sunder H. Lalwani |
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Designation : |
Chairman |
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Address : |
7A, Bhawani Apartmenrs, Behind Petit School, Opp,. Centre Road, Khar
(West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age: |
08.04.1984 |
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Date of Appointments : |
23.02.1983 |
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Mobile No.: |
91-9820522332 |
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Email : |
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Name : |
Mr. Haresh Lalwani |
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Designation : |
Joint Managing Director |
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Address : |
7A, Bhawani Apartmenrs, Behind Petit School, Opp,. Centre Road, Khar
(West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age: |
08.02.1966 |
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Date of Appointments : |
17.06.1986 |
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Mobile No.: |
91-9820023451 |
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Email : |
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Name : |
Mr. Bharat Lalwani |
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Designation : |
Joint Managing Director |
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Mobile No.: |
91-9820522333 |
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Address : |
7A, Bhawani Apartmenrs, Behind Petit School, Opp,. Centre Road, Khar
(West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age: |
02.10.1970 |
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Date of Appointments : |
01.01.2003 |
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Email : |
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Name : |
Mr. Rajesh J. Purohit |
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Designation : |
Director |
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Email : |
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Name : |
Mrs. Ratna Sunder Lalwani |
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Designation : |
Director |
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Address : |
7A, Bhawani Apartmenrs, Behind Petit School, Opp,. Centre Road, Khar
(West), Mumbai – 400052, Maharashtra, India |
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Date of Birth/Age: |
29.10.1943 |
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Date of Appointments : |
23.02.1983 |
KEY EXECUTIVES
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Name : |
Mr. Kishore N. Bhatia |
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Designation : |
Senior Executive Customers – Import |
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Email : |
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Name : |
Mr. H Dasan |
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Designation : |
Finance and Accounts |
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Email : |
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Name : |
Mr. Baban Bhalekar |
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Designation : |
Export and Documentation |
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Email : |
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Name : |
Mr. Mohan Devadiga |
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Designation : |
Operations (Import and Export) |
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Email : |
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Name : |
Mr. Manoj Kale |
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Designation : |
Executive – Sales |
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Email : |
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Name : |
Mr. Vikas Mane |
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Designation : |
Senior Executive Customers – Export |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2006)
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Names of Shareholders |
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No of Shares |
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Mr. Sunder H. Lalwani |
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1555 |
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Mrs. Ratna Sunder Lalwani |
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1000 |
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Mr. Haresh Lalwani |
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100 |
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Mr. Talreja Lalwani |
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5 |
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Mr. Bharat Lalwani |
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100 |
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Mrs. Preeti Bijlani |
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30 |
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Mrs. Kamala H. Lalwani |
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5 |
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Mr. Ajit Anand Lalwani |
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5 |
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Mr. Resham Bharat Lalwani |
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100 |
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Mrs. Dipika H. Lalwani |
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100 |
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Total |
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3000 |
(As on 31.03.2006)
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Category |
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Percentage |
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Directors r relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Shipping Logistics |
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Products : |
· Shipping
Logistics ·
Amyl
Alcohol ·
Boilers
·
Bleaching
Earth ·
Copper
Clad Laminates ·
Castor
Oil ·
Chocolates
·
Carpets
·
Chemicals
·
Electronic
Products ·
Edible
Oils ·
Gas
Cylinders ·
Glass
Bottles ·
Glecerine
·
Industrial
Oils ·
Laberotary
Instruments ·
Niger
Seeds ·
Olive
Oil ·
Paper
·
Pasta
·
Plastics
ware ·
Paper
Making Machinery ·
Printing
Inks ·
PVC
Flooring ·
Rice
·
Sugar
·
Steel
Coils ·
Soda
Ash ·
Soya
·
Toys
·
Textiles
·
Waste
Paper ·
Wood
Pulp ·
Watches
·
Wooden
Floori |
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Trade Name : |
SUN LOGISTICS |
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Terms : |
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Selling : |
Credit (10-15 days) |
GENERAL
INFORMATION
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No. of Employees : |
Around 50 |
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Bankers : |
· Yes Bank,
Nariman Point Branch · State Bank of
Hyderabad, Fort Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P D Heda and Company Chartered Accountant |
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Address : |
430 Hind Rajasthna Building, 95 D S Phalke Road, Dadar (East), Mumbai
- 400014, Maharashtra, India |
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Associates/Subsidiaries : |
· Sundersons
Logistics Private Limited · Container
Carriers International Private Limited · Dalal
Bros Freight Forwarders Private Limited. - CHA # 11/81 · M
and S Logistics Private Limited · Lalwani
Plantations |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000 |
Equity Share |
Rs.100/- each |
Rs.0.300 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000 |
Equity Share |
Rs.100/- each |
Rs.0.300 Million |
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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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.300 |
0.300 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.481 |
1.188 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.781 |
1.488 |
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LOAN FUNDS |
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1] Secured Loans |
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0.992 |
2.590 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.992 |
2.590 |
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DEFERRED TAX LIABILITIES |
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0.071 |
0.000 |
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TOTAL |
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3.844 |
4.078 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.133 |
2.328 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.067 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.212 |
3.633 |
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Sundry Debtors |
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3.517 |
2.725 |
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Cash & Bank Balances |
|
2.006 |
2.327 |
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Other Current Assets |
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0.210 |
0.081 |
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Loans & Advances |
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1.194 |
0.262 |
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Total
Current Assets |
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13.139 |
9.028 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.428 |
7.345 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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11.428 |
7.345 |
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Net Current Assets |
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1.711 |
1.683 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.844 |
4.078 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
250.000 (Estimated) |
10.973 |
6.411 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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10.974 |
6.411 |
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Profit/(Loss) Before Tax |
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2.320 |
0.017 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
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2.320 |
0.017 |
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Expenditures : |
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Interests |
|
0.158 |
0.157 |
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Depreciation |
|
0.579 |
0.383 |
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Other Expenditure |
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7.917 |
5.854 |
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Total Expenditure |
|
8.654 |
6.394 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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21.14 |
0.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
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21.14 |
0.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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15.19 |
0.15 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.83 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.47 |
6.68 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.15 |
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Business:
Have already done contracts with companies in
UK, Nederland and South Africa, and now in talking terms with a company in
China.
Trade Reference:
· Godrej Limited
· VVS Limited
· Hindustan Polymer and Fibers Limited
Profile:
Subject is the ‘Brand’ created by ‘Sundersons Group
Of Companies’ (as a corporate entity) to deal with Foreign Principals’ Agency
Responsibilities, Joint Ventures and Foreign Entity Partnership
Functions.
The parent company is now in its 25th year, which
started its work in the shipping industry in India as an international ocean
freight broking company.
In due course of time and as a steady run up into its
career graph, it diversified into related fields such as Freight Consulting,
Fleet Owning, and Customs’
Clearing and Forwarding et al.
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.42.79 |
|
UK Pound |
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.66.71 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POIN5TS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
|