MIRA
INFORM REPORT
|
Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TRIDENT TERMINALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Trade Plaza 414, Veer Savarkar
Marg, Cadell Road, Prabhadevi, Mumbai – 400025, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
17.08.2004 |
|
|
|
|
Com. Reg. No.: |
148047 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28992MH2004PTC148047 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT11605G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCT0854C |
|
|
|
|
Legal Form : |
Private limited Liability Company |
|
|
|
|
Line of Business : |
Providing of IT Solutions |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 572736 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company, promoted by strong promoters who are
resourceful, experienced and respectable companies in their expectative
fields. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Trade Plaza 414, Veer Savarkar
Marg, Cadell Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
1: |
Akruti Trade Centre, 402 4th Floor, Road No.7, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-56914000 |
|
Fax No.: |
91-20-56914005 |
|
|
|
|
Corporate Office 2: |
ICD Dadri, Tilpata Road, Gautam Budh Nagar, Noida – 201307, Uttar
Pradesh, India |
|
Tel. No.: |
91-120-2352500 |
|
Fax No.: |
91-120-2352505 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Nirmal Kumar Sinha |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
SFS Flat 94, Dgshbandhu Apartment, Kalkaji, New Delhi |
|
Date of Birth/Age : |
15.09.1955 |
|
Date of Appointment : |
12.05.2005 |
|
|
|
|
Name : |
Mr. Jamesh Mcadam |
|
Designation : |
Director |
|
Address : |
APC (India) Private Limited Akruti Andheri (East), Mumbai – 400093,
Maharashtra, India |
|
Date of Birth/Age : |
30.07.1954 |
|
Date of Appointment : |
17.08.2004 |
|
|
|
|
Name : |
Mr. Juzarbin Mustan Mala |
|
Designation : |
Director |
|
Address : |
133/Vaishali, Pitampura, New Delhi – 110088, India |
|
Date of Birth/Age : |
25.07.1960 |
|
Date of Appointment : |
17.08.2004 |
|
|
|
|
Name : |
Mr. Ravi Khandelwal |
|
Designation : |
Director |
|
Address : |
A-207 GF Defence Colony, New Delhi, India |
|
Date of Birth/Age : |
23.01.1958 |
|
Date of Appointment : |
12.05.2005 |
|
|
|
|
Name : |
Mr. Ian Claxton |
|
Designation : |
Director |
|
Address : |
456 Alexandra Road, 06-00 NOL Building, Singapore - 119962 |
|
Date of Birth/Age : |
16.11.1957 |
|
Date of Appointment : |
17.08.2004 |
|
|
|
|
Name : |
Mr. Sharatchandra Misra |
|
Designation : |
Director |
|
Address : |
201 Mont Blanc, 129 Carter Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1955 |
|
Date of Appointment : |
17.08.2004 |
|
|
|
|
Name : |
Mrs. Runa Mukbrjee |
|
Designation : |
Director |
|
Address : |
6/12 Barvapriya Vihar, New Delhi, India |
|
Date of Birth/Age : |
25.12.1953 |
|
Date of Appointment : |
17.08.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 21.06.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
APL (India) Private Limited |
|
2065500 |
|
Container Corporation of India Limited |
|
1984500 |
|
|
|
|
|
Total |
|
4050000 |
(As on 21.06.2005)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate (not mentioned above) |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of IT Solutions |
GENERAL
INFORMATION
|
Bankers : |
· HDFC Bank
Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400013,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Alok Goel Chartered Accountant |
|
Address : |
405-406, Akd Tower, Sector 14, Gurgaon – 122001, Haryana, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4987000 |
Equity Shares |
Rs.10/- each |
Rs.49.870
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
49.870 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
110.000 |
|
|
4] (Accumulated Losses) |
|
|
(16.686) |
|
|
NETWORTH |
|
|
143.184 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.184 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
161.088 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
9.382 |
|
|
Cash & Bank Balances |
|
|
0.282 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
5.352 |
|
Total
Current Assets |
|
|
15.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
33.305 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
33.305 |
|
|
Net Current Assets |
|
|
(18.289) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.385 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.184 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
48.368 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
48.368 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
(13.349) |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
(13.349) |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interests |
|
|
6.329 |
|
|
Depreciation |
|
|
5.853 |
|
|
Other Expenditure |
|
|
49.535 |
|
Total Expenditure |
|
|
61.717 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2007 |
|
PAT / Total Income |
(%) |
|
|
(27.60) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(27.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(7.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.45 |
LOCAL AGENCY FURTHER
INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U28992MH2004PTC148047 |
|
Name of the
Company |
TRIDENT TERMINALS PRIVATE LIMITED |
|
Address |
Akruti Trade Centre, 402 4th Floor, Road No.7, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of Charge |
Book Debts Movable Property (not being pledge) Stocks |
|
Particulars of
the charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400013,
Maharashtra, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Supplemental
Letter of Hypothecation of stock, book debts and machinery dated 26th
day of March, 2007 |
|
Date of the
instrument creating or modifying the charge |
26.03.2007 |
|
Amount secured by
the charge |
Rs.120.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: 11% p. a. Terms of
Repayment: Repayment on
demand as cash credit limit Margin: 25% Extent and
operation of the charge: First exclusive
charge on stocks, book debts and machinery of the company (both present and
future) |
|
Short particulars
of the property charged (including location of the property) |
First exclusive
charge on stocks, book debts and machinery of the company (both present and
future) |
|
Particular of the
present modification |
Existing charge
on the security is extended to cover enhanced limit of Rs.120.000 Millions |
Profile:
Subject
Dadri is a Joint Venture Project between APL India Private Limited and
Container Corporation of India Limited (CONCOR).
Subject is a state of art facility incorporating CFA and CY activities and
offering its services to all users. The provided services cover standard container
as well as Reefer container handling, storage, stuffing and stripping with
great emphasis on the provision of Value Added services and customized
services. The movement of containers primarily happens through the CONCOR Rail
network and the additional support is through the Road network to various
Gateway Ports as per the customer requirements.
The
common user facility of Trident Terminal container freight station (CFS) is
developed on an area of 42000 m2 within the ICD Dadri Hub
to handle a capacity of Rs.0.100 Millions TEU's (Truck load equivalent units) a
year.
The
Global reach of APL combined with Pan India Network of CONCOR assist in
channalising their expertise to this CFS Project in offering comprehensive
services and solution to customers of North India.
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.42.72 |
|
UK Pound |
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.66.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
- |
|
--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 |
|
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 |
|