MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION DETAILS
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Name : |
TRAXPO ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
Tapuriah House, 42/1, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
04.04.1997 |
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Com. Reg. No.: |
21-83882 |
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CIN No.: [Company
Identification No.] |
U83882WB1997PTC083882 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALT02996A |
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PAN No.: [Permanent
Account No.] |
AAACT9277H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter, Importer and Merchandiser of chemical and solvents, (organic and inorganic) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 18000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old established company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Shashikant Tapuriah |
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Designation : |
Director |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
Tapuriah House, 42/1, |
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Tel. No.: |
91-33-22680886 |
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Fax No.: |
91-33-22695384 |
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E-Mail : |
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Website : |
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Area : |
1500sq. ft. |
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Location : |
Rented (commercial) |
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Corporate Office : |
Jash Chambers, 5th Floor, Sit P M Road, Fort, Mumbai – 400
001, |
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Tel. No.: |
91-22-40304646, 22612126, 22612156 |
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Fax No.: |
91-22-40304650, 66311502 |
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E-Mail : |
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Branches : |
C/O Kanak Exim Private Limited, 78, New Cloth Market, |
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Tel. No.: |
91-79-22168775, 55302078 |
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Mobile No.: |
91-9376117644 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sushil Kant Tapuriah |
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Designation : |
Director |
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Address : |
Tapuriah House, 42/1, |
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Date of Birth/Age : |
18.05.1952 |
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Qualification : |
B. Com. |
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Experience : |
28 years |
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Other Directorship Held : |
Ø Agents India Limited Ø Traxpo Trading Limited |
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Date of Appointment : |
04.04.1997 |
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Name : |
Mr. Sudarshan Kumar Tapuriah |
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Designation : |
Director |
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Address : |
Tapuriah House, 42/1, |
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Date of Birth/Age : |
14.09.1958 |
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Date of Appointment : |
04.04.1997 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Sailesh Kumar Tapuriah |
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30000 |
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Mr. Sashi Kant Tapuriah |
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80000 |
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Mr. Sudarshan Kumar Tapuriah |
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165000 |
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Mr. Sushil Kumar Tapuriah |
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80000 |
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Mr. Shyam Sunder Tapuriah |
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30000 |
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Mrs. Anushree Tapuriah |
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30400 |
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Mrs. Radhika Tapuriah |
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80000 |
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Mrs. Rekha Tapuriah |
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70000 |
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Mrs. Shanta Devi Tapuriah |
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20100 |
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Mrs. Kusum Tapuriah |
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80000 |
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Shashi Kant Tapuriah (HUF) |
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20000 |
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S K Tapuriah (HUF) |
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40000 |
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S |
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20000 |
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Sudrashan Kumar Tapuriah (HUF) |
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60000 |
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Total |
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805500 |
(As On 27.03.2008)
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Name of Allottees |
No of Shares |
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Mr. Sudarshan Kumar Tapuriah |
50000 |
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Mr. Sashi Kant Tapuriah |
50000 |
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Mr. Sushil Kumar Tapuriah |
50000 |
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Total |
150000 |
(As On 13.04.2008)
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Name of Allottees |
No of Shares |
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Ms. Kusum Tapuriah |
40000 |
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Mrs. Rekha Tapuriah |
40000 |
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Mrs. Radhika Tapuriah |
40000 |
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Sushil Kumar Tapuriah (HUF) |
20000 |
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Sudrashan Kumar Tapuriah (HUF) |
20000 |
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Total |
160000 |
(As On 13.02.2008)
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Name of Allottees |
No of Shares |
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Mr. Sashi Kant Tapuriah |
8670 |
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Mr. Sudarshan Kumar Tapuriah |
33000 |
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Mr. Sushil Kumar Tapuriah |
8330 |
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Ms. Kusum Tapuriah |
9900 |
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Mrs. Rekha Tapuriah |
9900 |
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Mrs. Radhika Tapuriah |
9900 |
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Sushil Kumar Tapuriah (HUF) |
10000 |
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Sudrashan Kumar Tapuriah (HUF) |
10000 |
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Mr. Shyam Sunder Tapuriah |
9900 |
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Shyam Sunder Tapuriah (HUF) |
10000 |
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Mr. Sailesh Kumar Tapuriah |
10000 |
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Mrs. Anushree Tapuriah |
10400 |
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Shashi Kant Tapuriah |
10000 |
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Total |
150000 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100 |
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Total |
100 |
BUSINESS DETAILS
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Line of Business : |
Exporter, Importer and Merchandiser of chemical and solvents, (organic and inorganic) |
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Products : |
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Exports : |
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Countries : |
Worldwide |
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Imports : |
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Countries : |
Germany, Far East, Singapore, South Africa, South Korea,
USA, South pacific, Worldwide |
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Terms : |
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Selling : |
Contract, L/C and Credit up to 60 and 90 days basis |
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Purchasing : |
Contract, L/C and Credit up to 60 and 90 days basis |
GENERAL INFORMATION
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Customers : |
End Users, Traders v
Aarti Industries Limited v
Reliance Industries Limited v
Ranbaxy Laboratories v
Goodlass Nerolac Paints Limited v
Narmada Chemtur Petrochemicals Limited v
Rallis India Limited v
Sun Pharmaceutical Industries Limited v
Jubilant Organosys Limited v
United Phosphorus Limited v
India Glycols Limited v
Elder Pharmaceuticals Limited v
Orchid Chemicals and Pharmaceuticals Limited v
Laxmi Organic Industries Limited v
Aurobindo Pharma Limited v
Balaji Amines Limited v
Bhageria Dye-Chem Limited v
Excel Industries LimitedDaurala Organics Limited v
Dishman Pharmaceuticals Limited v
Gwalior Chemicals Industries Limited v
Industrial Organics Limited |
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No. of Employees : |
20 |
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Bankers : |
v ABN Amro Bank Nederland B V PNB House, 18-A, Brabone Road, Kolkata – 700 001, West Bengal, India v Bank of India v Axis Bank Limited, Nariman Point Branch, Atlanta, Mumbai – 400 021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K K Jain and Company Chartered Accountants |
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Address : |
P-21/22, Radha Bazar Street, Kolkata – 700 001, West
Bengal, India |
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Parent Company : |
Tapuriah Group Company |
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Affiliates : |
Traxpo Trading Company |
CAPITAL STRUCTURE
(As On 28.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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815500 |
Equity Shares |
Rs.10/- each |
Rs.8.155 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.155 |
8.155 |
6.555 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
19.144 |
15.892 |
13.067 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
27.299 |
24.047 |
19.622 |
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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 |
6.198 |
8.579 |
7.517 |
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TOTAL BORROWING |
6.198 |
8.579 |
7.517 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.497 |
32.626 |
27.139 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.012 |
3.995 |
2.975 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
7.180 |
6.085 |
6.189 |
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DEFERREX TAX ASSETS |
0.212 |
0.186 |
0.249 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
205.771 |
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Sundry Debtors |
0.000 |
0.000 |
461.454 |
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Cash & Bank Balances |
0.000 |
0.000 |
108.575 |
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Other Current Assets |
713.069 |
713.069 |
0.000 |
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Loans & Advances |
61.968 |
61.968 |
29.405 |
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Total
Current Assets |
867.051
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775.037 |
805.205 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
831.655 |
742.195 |
775.704 |
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Provisions |
12.303 |
10.482 |
11.777 |
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Total
Current Liabilities |
843.958 |
752.677 |
787.481 |
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Net Current Assets |
23.093 |
22.360 |
17.724 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
33.497 |
32.626 |
27.139 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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1793.057 |
2311.077 |
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Other Income |
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16.267 |
28.769 |
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Total Income |
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1809.324 |
2340.539 |
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Profit/(Loss) Before Tax |
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5.321 |
3.951 |
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Provision for Taxation |
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2.095 |
1.064 |
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Profit/(Loss) After Tax |
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3.226 |
2.887 |
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Expenditures : |
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Purchases |
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1520.118 |
2307.111 |
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Other Expenses |
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69.813 |
105.533 |
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Depreciation |
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1.102 |
1.068 |
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Financial Expenses: |
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29.161 |
26.765 |
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Total Expenditure |
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1804.003 |
2336.588 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.17
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0.12 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
0.29
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0.16 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
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0.00 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.19
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0.16 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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31.14
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31.65 |
40.51 |
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Current Ratio (Current Asset/Current Liability) |
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1.02
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1.02 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
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This form is for |
Creation of change |
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Corporate
identity number (CIN) Foreign company registration number |
U83882WB1997PTC083882 |
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Name of the
Company |
TRAXPO ENTERPRISES PRIVATE LIMITED |
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Address |
Tapuriah House, 42/1, Strand Road, Kolkata 700 007, West
Bengal |
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Type of Charge |
Book Debts |
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Particulars of
the charge holder |
Axis Bank Nariman Point
Branch, Atlanta, Mumbai – 400 021, Maharashtra, India E-mail: suyashri@vsnl.com |
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Nature or
description of the instrument(s) creating or modifying the charge |
Deed of Hypothecation
of Book Debts dated 04.01.2007 |
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Date of the
instrument creating or modifying the charge |
04.01.2007 |
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Amount secured by
the charge |
Rs.50.000
millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest: As specified by
bank from time to time or as per Sanction Letter (b) Terms of
Repayment: As specified by
bank from time to time or as per Sanction Letter (c) Margin: As
specified by bank from time to time or as per Sanction Letter (d) The assets
are given to secure Bill Discounting facility (Non LC backed for approved
buyers) of Rs. 50.000 millions granted by the Bank. |
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Short particulars
of the property charged (including location of the property) |
Hypothecation of
present and future specific receivables evidenced by accepted bills of
exchange, claims and bills which are due and owing to the Company during the
course of its business. |
Trader Reference
- UPL
- Atul Limited
Fixed Assets
v
Motor Car
v
Office Equipment
v
Furniture and Fixtures
v
Computer
Website details attached:
COMPANY PROFILE
Subject is a young, dynamic and growing trading organization based in Mumbai, the commercial capital of India. Incorporated in 1997, the company is primarily engaged in Import of Petrochemicals, Solvents and Intermediates. Their registered office is located in Kolkata, India and they also have associated offices in Singapore, Dubai and China.
Subject imports its products from manufacturers of Global repute and these products are primarily used as raw materials in Textiles, Pharmaceuticals, Laminates, Dyestuffs, Paints and various other related Chemical Industries.
Their wide range of products are sourced from reputed overseas suppliers in bulk/ drums through different ports and marketed in India. Imported chemicals are stored in Port Tank Terminals and Bonded Warehouses and re-distributed by inland road transport to various cities across India. These products are not only certified by the supporting manufacturer, also all shipment samples are checked thoroughly at specialized independent laboratories in order to ensure product quality and consistency.
Today, they have a widespread clientele including some of the most prominent large scale companies in India. They also have an export division, exporting Chemicals and merchandise in bulk as well as drum packing to various countries across the world.
At company, ‘TOTAL CUSTOMER SATISFACTION’ and ‘LONG TERM RELATIONSHIPS’ has been the bedrock of the operating philosophy of the company during the last ten years. Customer responsiveness, competitive pricing and commitment to the needs of the market have been the driving forces in their quest for excellence.
They believe in complete transparency, high business ethics
and strive to service their suppliers, dealers and customers with unparalleled
efficacy to become a world class supplier/ buyer through selling/ buying the RIGHT QUALITY at
RIGHT PRICE for RIGHT DELIVERY.
MANAGEMENT TEAM
With a combined experience of over 60 years the Board of Directors i.e. Mr. Sushil Kumar Tapuriah, Mr. Shashikant Tapuriah and Mr. Sudarshan Tapuriah bring forth immense experience and knowledge in International trade as well as local trading of Petrochemicals, Solvents and Intermediates.
The company is managed by experienced and reputed executives of high integrity and intelligence.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.49.77 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.63.36 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
7 |
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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 |
YES |
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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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57 |
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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