MIRA
INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
KAMINO INTERNATIONAL LOGISTICS PRIVATE LIMITED |
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Registered Office : |
301, The |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.02.1994 |
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Com. Reg. No.: |
11-164143 |
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CIN No.: [Company
Identification No.] |
U74899MH1994PTC164143 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is freight and forwarding agent |
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 170000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Mr. Subhash, Branch Manager parted some details. Subject is a well established and reputed company having satisfactory
track. 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. |
INFORMATION PARTED BY
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Name : |
Mr. Subhash Lakhani |
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Designation : |
Branch Manager |
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Date : |
17.11.2008 |
LOCATIONS
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Registered Office : |
301, The |
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Tel. No.: |
91-22-40313000 / 28598282 / 56924010 [12 lines] |
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Fax No.: |
91-22-40313000 / 40313030 / 28598290 / 56924020 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. fts. |
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Location : |
Owned |
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Branches : |
Located at |
DIRECTORS
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Name : |
Mr. Vignesh P. Manjeshwar |
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Designation : |
Director |
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Address : |
505, Udyan II, Marol, Andheri [East], Mumbai 400059, |
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Date of Birth/Age : |
27.01.1969 |
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Date of Appointment : |
09.08.2001 |
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Name : |
Mr. Dennis Joseph Riordan |
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Designation : |
Director |
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Address : |
11, |
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Date of Birth/Age : |
08.10.1962 |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mr. Clive P. Baker |
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Designation : |
Director |
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Address : |
9, Ladyegate CL, Dorking, Surrey, RH54AX, |
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Date of Birth/Age : |
27.04.1961 |
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Date of Appointment : |
30.09.2002 |
KEY EXECUTIVE
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Name : |
Mr. Subhash Lakhani |
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Designation : |
Branch Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders [As on 31.03.2007] |
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No. of Shares |
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Ashoka Kumar Nayyar |
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35630 |
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Vignesh Manjeshwar |
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33620 |
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Yvonne Baptista |
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1000 |
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Vilma Misquith |
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1000 |
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Sudarshan Devrani |
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500 |
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J. V. Iyer |
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500 |
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Sheetal Warekar |
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500 |
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Bhushan |
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500 |
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Josina Roy |
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250 |
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Kamino Limited |
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76500 |
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Total |
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150000 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Bodies Corporate |
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51.00 |
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Directors or relatives of the Directors |
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22.41 |
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Other top fifty shareholders |
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26.59 |
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Total |
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100 |
BUSINESS DETAILS
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Line of Business : |
Subject is freight and forwarding agent |
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Exports : |
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Countries : |
Worldwide |
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Imports : |
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Countries : |
Worldwide |
GENERAL INFORMATION
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No. of Employees : |
60 |
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Bankers : |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai
400013, |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kanwal Malhotra and Company Chartered Accountants |
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Address : |
91, A – 20, August Kranti Marg, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 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 |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
19.717 |
11.354 |
5.373 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
34.717 |
26.354 |
20.373 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
2.018 |
2.433 |
4.345 |
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TOTAL BORROWING |
2.018 |
2.433 |
4.345 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
36.735 |
28.787 |
24.718 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.073 |
9.546 |
3.803 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.435 |
1.743 |
1.521 |
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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
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0.000 |
0.000 |
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Sundry Debtors |
36.198
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29.384 |
26.009 |
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Cash & Bank Balances |
8.924
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8.127 |
8.993 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
34.624
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19.029 |
15.430 |
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Total
Current Assets |
79.746
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56.540 |
50.432 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
60.519
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39.042 |
31.038 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
60.519
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39.042 |
31.038 |
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Net Current Assets |
19.227
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17.498 |
19.394 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
36.735 |
28.787 |
24.718 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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348.097 |
269.618 |
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Other Income |
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2.071 |
0.776 |
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Total Income |
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350.168 |
270.394 |
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Profit/(Loss) Before Tax |
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9.994 |
4.962 |
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Provision for Taxation |
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4.014 |
1.808 |
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Profit/(Loss) After Tax |
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5.980 |
3.154 |
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Expenditures : |
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Direct operational Expenses |
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281.984 |
221.102 |
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Depreciation & Amortization |
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1.366 |
1.306 |
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Other Expenditure |
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56.824 |
43.024 |
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Total Expenditure |
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340.174 |
265.432 |
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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 |
(%) |
NA
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1.71
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1.17 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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2.87 |
1.84 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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15.12 |
9.15 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.37 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.80
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1.57 |
1.74 |
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Current Ratio (Current Asset/Current Liability) |
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1.32
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1.45 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
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Furniture and Fixtures
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Plant and Machinery
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Computers
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Office Equipments
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Motor Car
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Freehold Property
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Leasehold Property
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Office Premises
Form 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74899MH1994PTC164143 |
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Name of the
company |
KAMINO
INTERNATIONAL LOGISTICS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
301, The |
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Type of charge |
Immovable property |
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Particular of
charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West], Mumbai 400013, E-mail: rbbform8@hdfcbank.com
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Nature of
description of the instrument creating or modifying the charge |
Memorandum recording post transaction of creation of
mortgage by deposit of title deeds. |
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Date of
instrument Creating the charge |
31.03.2008 |
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Amount secured by
the charge |
Rs. 45.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the bank from time to time. Terms of
Repayment On demand Margin Company shall at all
times during the continuance of this security maintain a sufficient amount to
provide the margin of security as may from time to time advised by the Bank. Extent and
Operation of the charge The company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as security for the due repayment/payment of the
company’s dues including principal amount of the facility, interest,
liquidated damages, costs, charges and expenses etc. |
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Short particulars
of the property charged |
Immovable property bearing premises nos. 301, 301A
and 302, 3rd Floor, The Sangeet Plaza Iflex Office Premises CHS
Limited, admeasuring 2020 sq. fts. bearing S. No. 69/3, CTS No. 598, Village
Marol, Andheri, MSD. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Indian Rupees |
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US Dollar |
1 |
Rs. 49.74 |
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1 |
Rs. 74.37 |
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Euro |
1 |
Rs. 62.78 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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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
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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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