MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
HIND TERMINALS PRIVATE LIMITED |
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Registered
Office : |
501, A Wing, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.08.2003 |
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Com. Reg. No.: |
11-141927 |
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CIN No.: [Company Identification
No.] |
U63030MH2003PTC141927 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Services Provider of Container Freight Station Rail Service. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000000 |
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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 an established company having satisfactory track. The
company is doing well. Trade relations are reported as fair. Business is
active. Payments are reported to be correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Abhishek Podar |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-22-67717787 |
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|
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|
Name : |
Mr. Rohit Gaitonde |
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Designation : |
Company Secretary |
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Contact No.: |
91-22-67771784 |
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Date : |
07.04.2011 |
LOCATIONS
|
Registered / Corporate Office : |
501, A Wing, |
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Tel. No.: |
91-22-67717777 |
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Fax No.: |
91-22-67717799 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Sales Office : |
Container Freight Station, Nava Sheva, CWC Logistic Part, Sector 10,
Dronagiri Node, Navi Mumbai-400707, Maharashtra, India |
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Tel. No.: |
91-22-27231840 |
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Area : |
75 Acres |
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Office Network: |
Located At:
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mukesh Prasad Mahendra Oza |
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Designation : |
Director |
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Address : |
501, Regency Revenue, 5th Floor, |
|
Date of Birth/Age : |
17.03.1954 |
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Date of Appointment : |
10.06.2005 |
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Name : |
Mr. Mahender Santu Puri |
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Designation : |
Director |
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Address : |
512, C |
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Date of Birth/Age : |
25.07.1960 |
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Date of Appointment : |
10.06.2005 |
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Date of Ceasing: |
18.04.2010 |
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Name : |
Mr. Shyam Kundanlal Kapur |
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Designation : |
Director |
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Address : |
E-221, Naraina Vihar, New Delhi-110028, |
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Date of Birth/Age : |
13.12.1952 |
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Date of Appointment : |
29.12.2005 |
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Name : |
Mr. Jitendra Brig Rajendra Nath Misra |
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Designation : |
Director |
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Address : |
Villa No. 2, DM116, 352, AL Jumera Area, 20-B, Street, Dubai-31640,
UAE |
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Date of Birth/Age : |
01.10.1955 |
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Date of Appointment : |
29.12.2005 |
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Name : |
Mr. Ashok Gebilal Jain |
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Designation : |
Director |
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Address : |
801, |
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Date of Birth/Age : |
01.02.1962 |
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Date of Appointment : |
24.04.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Rohit Surendra Gaitonde |
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Designation : |
Company Secretary |
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Address : |
D/5, Shree Kirti Co-Operative Housing Society, Vidyanagri Marg,
Santacruz (East), Mumbai-400098, |
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Date of Birth/Age : |
26.01.1973 |
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Date of Appointment : |
16.03.2006 |
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Name : |
Mr. Abhishek Podar |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Galaxy Terminals LLC, |
|
160000000 |
|
Sharaf Investment LLC, |
|
20000000 |
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|
20000000 |
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Total |
|
200000000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Services Provider of Container Freight Station Rail Service. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
HDFC Bank, Andheri, Nava Sheva |
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Facilities : |
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Financial Institution: |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Water Houses Chartered Accountant |
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Address : |
252, Veer Savarkar Marg, |
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Holding Company: |
Galaxy Terminals LLC |
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Ultimate Holding Company: |
Sharaf Investment LLC |
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Subsidiaries: |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2000.000 |
2000.000 |
2000.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
734.140 |
425.236 |
215.571 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2734.140 |
2425.236 |
2215.571 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1797.305 |
1464.454 |
35.484 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
719.500 |
|
|
TOTAL BORROWING |
1797.305 |
1464.454 |
754.984 |
|
|
DEFERRED TAX LIABILITIES |
163.810 |
121.006 |
68.292 |
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|
|
|
|
|
|
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TOTAL |
4695.255 |
4010.696 |
3038.847 |
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|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
3320.008 |
2712.770 |
2278.449 |
|
|
Capital work-in-progress |
158.243 |
941.247 |
768.980 |
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|
|
|
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INVESTMENT |
33.322 |
9.825 |
4.725 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
137.853
|
102.081 |
35.836 |
|
|
Cash & Bank Balances |
1198.655
|
370.547 |
89.873 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
267.752
|
148.631 |
186.414 |
|
Total
Current Assets |
1604.260
|
621.259 |
312.123 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
257.658
|
170.765 |
262.340 |
|
|
Other Current Liabilities |
108.655
|
77.405 |
52.376 |
|
|
Provisions |
54.265
|
26.261 |
10.765 |
|
Total
Current Liabilities |
420.578
|
274.431 |
325.481 |
|
|
Net Current Assets |
1183.682
|
346.828 |
(13.358) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.026 |
0.051 |
|
|
|
|
|
|
|
|
TOTAL |
4695.255 |
4010.696 |
3038.847 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Cargo Handling and Other Services |
|
1326.114 |
908.576 |
|
|
|
Haulage Income and Other Services |
|
1292.343 |
780.664 |
|
|
|
Empty Container Handling and Other Services |
3348.902 |
76.941 |
16.922 |
|
|
|
Other Income |
|
16.526 |
18.263 |
|
|
|
TOTAL (A) |
3348.902 |
2711.924 |
1724.425 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and Others Expenses |
|
1871.734 |
1170.927 |
|
|
|
Personnel Expenses |
2533.398 |
94.048 |
55.984 |
|
|
|
Administrative Expenses |
|
117.582 |
62.835 |
|
|
|
TOTAL (B) |
2533.398 |
2083.364 |
1289.746 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
815.504 |
628.560 |
434.679 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
134.319 |
139.952 |
42.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
681.185 |
488.608 |
392.144 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
204.477 |
164.354 |
91.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
476.708 |
324.254 |
301.013 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
167.804 |
114.589 |
110.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
308.904 |
209.665 |
190.481 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
425.235 |
215.570 |
25.089 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
734.139 |
425.235 |
215.570 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
NA |
89.438 |
132.000 |
|
|
|
Capital Goods |
NA |
72.573 |
75.163 |
|
|
TOTAL IMPORTS |
NA |
162.011 |
207.163 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.54 |
1.05 |
1.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.22
|
7.73 |
11.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
12.03 |
17.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.68
|
9.73 |
11.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.13 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
0.72 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.81
|
2.26 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Total outstanding
dues of micro enterprises and small enterprises |
0.358 |
0.000 |
|
|
Total outstanding
dues of creditors other than micro enterprises and small enterprises |
257.300 |
170.765 |
|
|
Total |
257.658 |
170.765 |
262.340 |
Note: The
registered office of the company has been shifted from 106,
Business:
During the year, the Company recorded total sales/income of Rs. 3348.900
Millions as compared to Rs.2711.900 Millions in 2008-2009. Net Profit for the
financial year ended 31st March, 2010 increased to Rs. 308.900 Millions from
Rs. 20960.000 Millions in 2008-2009.
The Company is operating Container Freight Station (CFSs) at Nhava Sheva
and Mundra regions with optimum volumes and are presently amongst the top three
CFS’s in the regions. The Company has started Rail siding operations at Nhava
Sheva and already handled BCN Rakes at Nhava Sheva CFS.
The Company has decided to procure balance 4 rakes during the current
financial year and will increase its rake deployed in the business to 14. The
Company at present handling mainly EXTM volumes and operating between various terminals
in North - Sahnewal/
The Company has further progressed discussions in the development of ICD
in the National Capital Region, at Palwal and CES at Chennai. The Company also
further intends to consolidate operations at various locations and is looking
forwards for strategic partnerships for business operations.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U63030MH2003PTC141927 |
|
Name of the
company |
HIND TERMINALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
501, A Wing, |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Magma Fincorp Limited, Magma House, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
As per Hire
Purchase Agreement dated 7th October, 2010 |
|
Date of
instrument Creating the charge |
07.10.2010 |
|
Amount secured by
the charge |
Rs.27.934
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Deal IRR @ 9% Terms of Repayment
Recoverable in 59
installments of Rs.4,73,453 each Margin As per Hire and
Purchase Agreement dated 07th October, 2010 Extent and
Operation of the charge 100% on Assets |
|
Short particulars
of the property charged |
Funding on 10
Nos. TATA 4018 Tractor Trailers |
Fixed Assets:
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Reach
Starters
- Vehicles
- Trailers
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.