MIRA
INFORM REPORT
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Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
BALAJI COURIER AND CARGO |
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Registered Office : |
Shop No. 1, Bharat Singh Market, Opposite B – 7, Gate No. 1, Vasant Kunj,
New Delhi – 110 070 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1996 |
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Service Tax No.: |
DL-1/ST/COURIER/2601/2003 |
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PAN No.: [Permanent
Account No.] |
ARUPS7201E |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Provider of Courier and Cargo Services |
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 3000 |
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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 : |
Subject is a well – established “Courier Company” having steady
business. Trade relations are fair. Payments are usually correct and as per commitments. It can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Arvind Sarraf |
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Designation : |
Proprietor – cum – Chief Executive Officer |
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Date : |
25.08.2008 |
LOCATIONS
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Registered Office : |
Shop No. 1, Bharat Singh Market, Opposite B – 7, Gate No. 1, Vasant
Kunj, New Delhi – 110 070, India |
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Tel. No.: |
91-11-26893488 / 26893499 |
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Mobile No.: |
91-9313448880/ 9350098880 / 9811448880 |
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Fax No.: |
91-11-26134478 |
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E-Mail : |
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Area : |
300 Sq.fts (Approximately) |
SOLE PROPRIETOR
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Name : |
Mr. Arvind Sarraf |
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Designation : |
Proprietor – cum – Chief Executive Officer |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Provider of Courier and Cargo Services |
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Products : |
Courier and Cargo (International and Domestic) · Facility of door-to-door pickup and drop · Round the clock pick up facility · Single point deliveries for exporter and importer, who have large consignment · Large network spread across to more than 200 countries and territories worldwide by self network · Complete reliability of the services. |
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Services : |
· International Courier Services · Domestic Courier Services · International Parcel Services · Air Freight Forwarding Services · Sea Freight Forwarding Services · Custom Clearance Services |
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Brand Names : |
Associated with the Companies : DSHL, FEDEX, TNT |
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Agencies Held : |
Associated with the Companies : DSHL, FEDEX, TNT |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
Own set up |
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Customers : |
MNC, Corporate House and Local Companies. |
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No. of Employees : |
20 |
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Bankers : |
Corporation Bank, Vasant Kunj, New Delhi – 110 070, India |
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Banking Relations
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Satisfactory |
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Associates/Subsidiaries : |
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Name of the
Company : |
Balaji Travco India Private Limited |
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Address: |
509, Somdutt Chambers II9, Bhikaji Cama Place, New Delhi – 110 066,
India |
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Activities: |
Travel Company |
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Sale Turnover : |
Rs. 10.000 millions. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.600 million |
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Borrowed : |
--- |
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Total : |
Rs. 0.600 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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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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5.000 |
4.000 |
Expected Sales (2008-09): Rs.7.500 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
BALAJI COURIER AND CARGO |
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Address |
Shop No. 1, Bharat Singh Market, Opposite B – 7, Gate No. 1, Vasant
Kunj, New Delhi – 110 070, India |
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Phone Numbers |
91-11-26893488 / 26893499 |
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Fax Number |
91-11-26134478 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Service Tax Registration |
DL-I/ST/COURIER/2601/2003 |
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Name of Bank |
Corporation Bank, Vasant Kunj, New Delhi –
110 070 |
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Creditability Factors |
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Years of Establishment |
1996 |
WEBSITE DETAILS:-
Leveraging on their
team of workers, they have been continuously working towards facilitating
domestic as well as international clients with streamlined courier services, within
stipulated frame of time. Their commitment towards the on time deliveries has
made them one of the forerunners in their domain of activity. With time in the
industry, they have developed their expertise in collection, processing and
dispatch of the consignments with utmost care to the final destination.
Concern Profile:-
Subject is leading
courier companies, engaged in offering their clients services related with
delivery and dispatch of consignments and documents form one place to the
other. With strategically positioned regional branch offices across the
country, they ensure to serve their clients with tailor made courier services
within specified frame of time. Their services includes international as well as domestic courier and parcel services, air
freight forwarding, ocean freight forwarding, custom clearance and door to door
delivery services.
They have an immaculate track record of offering reliable and cost-effective
services to their clients as per their convenience and desired delivery schedules.
Their enviable reputation for offering quick and efficient services at the door
step of their clients is done in a very friendly and organized manner.
Business
Philosophy
They are committed
to render courier services with assurance for quality and timely services to
their clients. The philosophy of their organization is directed towards
customer loyalty and to ensure this they leave no stone unturned towards
vouching on transparent and ethical business relationship with their clients
and associates. They encourage people working with them to adopt new
technologies so as to facilitate their clients with improved, reliable and
speedy courier services. They work in close contact with their clients and
associates thereby assuring win-win relationships with everyone involved in the
business.
Services
They are known for
offering convenient and specialized services in fixed transit schedules be it
air, ground or ocean. Their services includes international courier services, international parcel services, domestic
courier services, domestic parcel services, air freight forwarding, ocean
freight forwarding, custom clearing and door to door deliveries.
Some Highlights of their
Services :
· Facility of door-to-door pickup and drop.
· Round the clock pick up facility.
· Single point deliveries for exporter and importer, who have large consignment.
· Large network spread across to more than 200 countries and territories worldwide by self network.
· Complete reliability of the services.
Associates
In their endeavour
to offer time bound logistic services to their customers, they have associated
their selves with companies like DHL, FEDEX, TNT and other international
logistic service providers. In addition to these associated companies, they also
maintain their own service network. All these enable them to meet the
requirements of the customers worldwide, whether they require speed services,
specialized material handling and transportation or total logistical solutions.
They ensure timely and safe delivery while monitoring the movement of
consignment.
Infrastructure
They leverage on
state-of-the-art indigenous developed system for track and trace of the
consignment and other courier dispatches. Over the years operating in this
domain, they acknowledge the need and importance of technology and speedy
communication and thus have adapted their selves to instantaneous updated
electronic communications. Their infrastructure is well equipped with computers
and other requisites, which aids in the smooth and fast flow of the services
from one place to the other. With the help of their effective communication
module, they have been able to establish an efficient communication with their
clients.
Team
They have a team of
skilled and reliable personnel, which is well versed with the cargo handling
and packaging. Capitalizing on the expertise of their team in their area of
activity, they ensure to offer their clients with complete reliability and
assurance of quality in all the services, which they cater to. Their team
ensures to handle each service with complete accuracy involving the higher
standards of reliability and transparency in the execution process.
Quality Objective
Being a customer
centric freight forwarding agents also engaged in offering personalized courier
services for host of consignments and documents, they have kept the foundation
of their service company on strong quality objectives. The key factors of the
objective are :
· To enhance customer satisfaction in terms of quality services and responsiveness.
· To ensure timely clearance of the consignments.
· To ensure error free documentation and regulatory compliance for sea as well as air shipments.
· To provide training and development to sharpen the skills of their team.
Customer
Satisfaction
They cater to their
clients with services, which are very reliable and cost effective. Their
services are planned and executed by a team of professionals and thus ensure
complete value of time. With their ability to execute each services within
specified frame of time, they have earned the accolades of their clients for
ability to deliver the consignments at the final destination within time.
CMT REPORT
(Corruption, Money Laundering and 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
SCORE and RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
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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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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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 and 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 and 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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