MIRA
INFORM REPORT
|
Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALPHA LOGISTIC SERVICES PRIVATE LIMITED |
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Registered Office : |
165-A, Pocket – I, Mayur Vihar Phase – 1, New Delhi – 110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.01.2002 |
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Com. Reg. No.: |
55-113919 |
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CIN No.: [Company
Identification No.] |
U63013DL2002PTC113919 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA15078A |
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PAN No.: [Permanent
Account No.] |
AAECA0494R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Freight Forwarding and Consolidating Agents |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
165-A, PKT – I, Mayur Vihar Phase – 1, New Delhi – 110091, India |
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Tel. No.: |
91-11-26488558 |
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Mobile No.: |
91-9810215551 |
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Fax No.: |
91-11-26488256 |
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E-Mail : |
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Website : |
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Administrative Office/ Head Office : |
K-64A, Kalkaji, New Delhi - 110019 |
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Tel. No.: |
91-11-26488356 / 57 / 41629910 / 26425601 |
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Fax No.: |
91-11-26488258 |
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Branches : |
Located at : ·
Office No. 1, Kukreja Estate, Sec. 11, C.B.D. Belapur, Navi Mumbai ·
154, Dada Pota Complex, Sukhdev Vihar, Panipat, Haryana ·
Room No. 2, Punjab State Warehousing Corporation, Dappar, Chandigarh ·
117-4-2/13, Pandav Nagar, Kanpur |
DIRECTORS
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Name : |
Mr. Puneet Sharma |
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Designation : |
Director |
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Address : |
165-A, PKT – I, Mayur Vihar Phase – 1, New Delhi – 110091, India |
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Date of Birth/Age : |
25.05.1970 |
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Date of Appointment : |
22.01.2002 |
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Name : |
Ms. Ambika Sharma |
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Designation : |
Director |
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Address : |
165-A, PKT – I, Mayur Vihar Phase – 1, New Delhi – 110091, India |
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Date of Birth/Age : |
23.06.1969 |
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Date of Appointment : |
22.01.2002 |
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Name : |
Ms. Bimla Sharma |
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Designation : |
Director |
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Address : |
165-A, PKT – I, Mayur Vihar Phase – 1, New Delhi – 110091, India |
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Date of Birth/Age : |
22.11.1945 |
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Date of Appointment : |
22.01.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Puneet Sharma |
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40100 |
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Ms. Ambika Sharma |
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100 |
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Ms. Bimla Sharma |
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100 |
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Total |
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40300 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Freight Forwarding and Consolidating Agents |
GENERAL
INFORMATION
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Bankers : |
·
Canara Bank,
Maharani Bagh, Neew Delhi, India ·
HDFC Bank
Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Antima and Goel Chartered Accountants |
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Address : |
A – 6, Defence Colony, New Delhi – 110024, India |
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E-Mail : |
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Memberships : |
Federation of Freight Forwarding Association in India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs. 10/-each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40,300 |
Equity Shares |
Rs. 10/-each |
Rs. 0.403
Million |
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 |
0.403 |
0.403 |
0.403 |
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2] Share Application Money |
0.500 |
0.500 |
0.000 |
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3] Reserves & Surplus |
1.144 |
0.947 |
0.666 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.047 |
1.85 |
1.069 |
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LOAN FUNDS |
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1] Secured Loans |
1.617 |
1.380 |
1.297 |
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2] Unsecured Loans |
2.474 |
2.124 |
1.913 |
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TOTAL BORROWING |
4.091 |
3.504 |
3.210 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.138 |
5.354 |
4.279 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.642 |
0.703 |
0.643 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.906 |
0.395 |
0.395 |
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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 |
5.598
|
4.202 |
3.173 |
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Cash & Bank Balances |
0.217
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0.863 |
0.068 |
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Other Current Assets |
1.317
|
0.336 |
0.363 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
7.132
|
5.401 |
3.604 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.427
|
0.989 |
0.108 |
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Provisions |
0.115
|
0.161 |
0.265 |
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Total
Current Liabilities |
2.542
|
1.150 |
0.373 |
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Net Current Assets |
4.590
|
4.251 |
3.231 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.005 |
0.010 |
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TOTAL |
6.138 |
5.354 |
4.279 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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3.913 |
7.242 |
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Other Income |
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Total Income |
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3.913 |
7.242 |
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Profit/(Loss) Before Tax |
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0.445 |
0.720 |
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Provision for Taxation |
|
0.174 |
0.265 |
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Profit/(Loss) After Tax |
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0.271 |
0.455 |
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Expenditures : |
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Transportation Income |
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0.000 |
2.399 |
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Freight & Transportation Income |
|
1.878 |
0.846 |
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Expenses Recoveries |
|
1.441 |
3.116 |
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Services Charges |
|
0.534 |
0.688 |
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Commission & Refunds |
|
0.060 |
0.193 |
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Depreciation & Amortization |
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0.183 |
0.192 |
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Total Expenditure |
|
4.096 |
7.434 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA |
6.92 |
6.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA |
11.37 |
9.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
7.29 |
16.95 |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
0.24 |
0.67 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.24
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2.53 |
3.35 |
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Current Ratio (Current Asset/Current Liability) |
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2.81
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4.66 |
9.66 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the
company |
ALPHA LOGISTIC SERVICES PRIVATE LIMITED |
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Presented By |
Canara Bank |
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1) Date and description of instrument creating the change |
Agreement Re :
Advance against Book debts a Prime Security dated 17.02.2004 and registered
on 10.03.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.000 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on
all the Borrower’s present and future Book debts, outstanding moneys,
receivable claims, bills which are now due and owing or say at any time
hereafter during the continuance of this security become due and owing to the
borrower in the course of its business by any person, firm, company or by the
Government or any local or public body or authority. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure OD limit of Rs. 1.000 Million with interest @ 3.3 % over ongoing PLR
with a minimum of 14.05 % p.a. with monthly rest or at such other rates as
may be specified by the Bank form time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank,
Maharani Bagh, Neew Delhi, India |
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6) Date and brief description of instrument modifying the charge |
Supplemental
agreement dated 07.03.2005 |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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90044092 |
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Corporate
identity number of the company |
U63013DL2002PTC113919 |
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Name of the
company |
ALPHA LOGISTIC SERVICES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
165-A, PKT – I, Mayur Vihar Phase – 1, New Delhi – 110091, India |
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Type of charge |
Book Debts |
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Particular of
charge holder |
Canara Bank,
Maharani Bagh, Neew Delhi, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
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Date of
instrument Creating the charge |
31.10.2006 |
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Amount secured by
the charge |
Rs. 3.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 3.50% p.a.
above ongoing BPLR of the Bank with a minimum of 15% p.a. compounded monthly. Terms of
Repayment Payable on Demand Margin 40% or as may be
stipulated by the Bank form time to time Extent and
Operation of the charge 100% Others To secure ODBD
limit of Rs. 3.000 Millions granted to the Company together with all
interests, costs, charges expenses etc. |
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Short particulars
of the property charged |
First charge on
all the Borrower’s present and future book-debts, outstandings, money receivables,
claims and bills which are now due and owing or which may at any time
hereafter during the continuance of this security become due and owing to the
borrower in the course of its business by any person, firm, company or by the
Government or any local or public body or authority. |
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Date of latest
modification prior to the present modification |
07.03.2005 |
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Particulars of
the present modification |
The ODBD limit
stands enhanced from Rs. 1.500 Millions to Rs. 3.000 Millions Interest rate
stands changed to @ 3.50% p.a. above ongoing BPLR of the Bank with a minimum
of 15% p.a. compounded monthly. Other terms and
conditions remained the same. |
AS PER WEBSITE
Subject has been running their business
since 1995 under the dynamic leadership of Mr. PUNEET SHARMA. With his vast
experience gained by working with CONCOR and shipping lines like TATA NYK, he
has put them on a platform where they have developed a branch network catering
to shippers of North and Western India.
Aimed at providing one-window solutions to
all logistic needs with complete customer satisfaction, for over a decade now
they have successfully evolved to meet the challenges of the dynamic market
scenario, continuously capturing business opportunities. The principle of
providing complete customer satisfaction through highest quality standards of
services, reflects in their long list of satisfied customers. To keep a finger
on the market pulse using the state of art technology, and equipped with
experienced (dedicated) personnel, they aim at providing diversified services
that are specially designed to give their customers a competitive edge in the
international market place.
SERVICES
They constantly thrive to provide their customers
varied logistic solutions under one roof.
Some of their specialized services are:
- Pre and Post
shipment documentations
- Freight
forwarding and consolidation of Cargo
- In House
Transportation of Export-Import cargo
- Warehousing
facilities
- Follow up
with DGFT and other related departments
- Tracking of
Cargo
Product Range : Insign Services offered to CHA Agent in Export / Import,
Custom Cleaning by Air and Sea, International Freight Forwarding,
Consolidators.
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.46.88 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--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 |
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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 |
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/normal. |
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 |
|