MIRA
INFORM REPORT
|
Report Date : |
28.04.2011 |
Note : The Correct Name of The Company is ‘NABROS TRANSPORT
PRIVATE LIMITED’
IDENTIFICATION DETAILS
|
Name : |
NABROS TRANSPORT PRIVATE LIMITED |
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Registered Office : |
333/1, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.12.1987 |
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Com. Reg. No.: |
04-10212 |
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CIN No.: [Company
Identification No.] |
U63090GJ1987PTC010212 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMN00176B |
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PAN No.: [Permanent
Account No.] |
AAACN3724D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Subject is Engaged in Transport Services, Transport Contractors and
Carriers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 319000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually 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 |
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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. Jignesh Patel |
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Designation : |
Director |
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Contact No.: |
91-9898944433 |
|
Date : |
25.04.2011 |
LOCATIONS
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Registered Office : |
333/1, |
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Tel. No.: |
91-79-27540783 |
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Mobile No.: |
91-9824033157 (Mr. Tapan Patel) |
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E-Mail : |
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Website : |
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Area : |
2500 Sq.ft.[Approximately] |
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Location : |
Owned |
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Corporate Office : |
No.7, Parshwanath Chambers, 3rd Floor, |
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Tel. No.: |
91-79-27540783 / 27541784 / 27541294 |
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Fax No.: |
91-79-27543976 |
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E-Mail : |
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Regional Office 1 : |
SF-1, Panorama Complex, R C Dutt Road, Baroda-390 007, |
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Tel. No.: |
91-265-2333558 / 3054488 |
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Fax No.: |
91-265-2340464 |
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E-Mail : |
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Regional Office 2 : |
16-A, Harmon Homes, Flat No.302, Indrapuri Complex, Near J. K. Road,
Bhopal – 462021, Madhya Pradesh, India |
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Tel. No.: |
91-755-2582190 |
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Regional Office 3 : |
301, Sai Samarth, Near Shah Industrial Estate, Govandi (East), Mumbai
– 400088, |
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Tel. No.: |
91-22-25558582 / 3 |
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Fax No.: |
91-22-25558584 |
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E-Mail : |
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Warehouse : |
Block No.1087, Kasturnagar, Shertha, Gandhinagar, |
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Tel. No.: |
91-262-23285561 / 62 |
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Workshop : |
Near |
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Tel. No.: |
91-79-256600330 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Nilesh Anandbhai Patel |
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Designation : |
Director |
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Address : |
333/1, |
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Date of Appointment : |
22.12.1987 |
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DIN : |
00284684 |
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Name : |
Mr. Maheshbhai Bhimabhai Patel |
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Designation : |
Directors |
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Address : |
12, Heritage Enclave, Thaltej, |
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Date of Appointment : |
22.12.1987 |
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DIN : |
00297977 |
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Name : |
Mr. Jaydev Bhimabhai Patel |
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Designation : |
Directors |
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Address : |
13, Vinus Apartment, |
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Date of Appointment : |
22.01.1991 |
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DIN : |
00284704 |
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Name : |
Mr. Amitbhai Nileshbhai Patel |
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Designation : |
Director |
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Address : |
333/1, |
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Date of Appointment : |
22.01.1991 |
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DIN |
00284669 |
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Name : |
Mr. Tapanbhai Nileshbhai Patel |
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Designation : |
Directors |
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Address : |
333/1, |
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Date of Appointment : |
22.01.1991 |
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DIN : |
00284655 |
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Name : |
Mr. Biren Narendrabhai Patel |
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Designation : |
Director |
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Address : |
84, |
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Date of Appointment : |
01.01.1996 |
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DIN : |
00284608 |
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Name : |
Mr. Jignesh Jaydevbhai Patel |
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Designation : |
Director |
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Address : |
13, Vinus Apartment, |
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Date of Appointment : |
01.01.1996 |
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DIN : |
00284587 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Nileshbhai A. Patel |
|
22630 |
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Maheshbhai B. Patel |
|
27880 |
|
Jaydev Bhimabhai Patel |
|
27880 |
|
Sarojben N. Patel |
|
5250 |
|
Amit Patel |
|
13940 |
|
Tapan Patel |
|
13940 |
|
Birin Patel |
|
13940 |
|
Jignesh Patel |
|
13940 |
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Total |
|
139400 |
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is Engaged in Transport Services, Transport Contractors and
Carriers. |
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Terms : |
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Selling : |
Cash / Credit (30 / 60 / 90 Days) |
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Purchasing : |
Cash / Credit (30 / 60 / 90 Days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
50 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Jasmin V Shah and Company Chartered Accountants |
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Address : |
B-4, Surbhi Ishwarbhuvan Navrangpura, Ahmedabad - 380 009, |
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Tel. No.: |
91-79-26440721 |
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Pan No. : |
ACHPP0106F |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs.10/- Each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
139,400 |
Equity Shares |
Rs.10/- Each |
Rs.1.394
Millions |
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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 |
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|
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1] Share Capital |
1.394 |
1.394 |
1.394 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
78.540 |
63.076 |
21.728 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
79.934 |
64.470 |
23.122 |
|
|
LOAN FUNDS |
|
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|
1] Secured Loans |
16.129 |
29.811 |
70.449 |
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2] Unsecured Loans |
23.168 |
33.982 |
20.041 |
|
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TOTAL BORROWING |
39.297 |
63.793 |
90.490 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.874 |
1.526 |
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TOTAL |
119.231 |
129.137 |
115.138 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
84.037 |
114.871 |
96.459 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
12.434 |
3.653 |
8.958 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
12.493
|
30.979
|
8.598 |
|
|
Cash & Bank Balances |
22.597
|
6.353
|
5.431 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
47.803
|
25.866
|
18.579 |
|
Total
Current Assets |
82.893
|
63.198
|
32.608 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Sundry Creditors |
22.385
|
22.715
|
15.190 |
|
|
Provisions |
37.748
|
29.870
|
7.697 |
|
Total
Current Liabilities |
60.133
|
52.585 |
22.887 |
|
|
Net Current Assets |
22.760
|
10.613 |
9.721 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
119.231 |
129.137 |
115.138 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
229.549 |
|
209.402 |
|
|
|
Other Income |
1.556 |
|
1.579 |
|
|
|
TOTAL (A) |
231.105 |
NA |
210.981 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
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|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
160.319 |
NA |
190.973 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
|
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|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
70.786 |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.497 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
25.289 |
NA |
20.008 |
|
|
|
|
|
|
|
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|
Less |
TAX (I) |
9.826 |
NA |
6.367 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
15.463 |
NA |
13.634 |
|
|
|
|
|
|
|
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|
|
BALANCE CARRIED
TO THE B/S |
15.463 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
110 |
NA |
98 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
300.000 |
Expected Sales ( 2011-2012
) : Rs.500.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.69
|
NA
|
6.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.02
|
NA
|
9.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.15
|
NA
|
15.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
NA
|
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24 |
1.81 |
4.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.20 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES :
- Gujarat
Narmada Valley Fertilizers Company Limited
- Door Oliver
India Limited
- National
Fertilizers Limited
Sundry Creditors :
(Rs.in million)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
22.385 |
22.715 |
15.190 |
|
|
|
|
|
|
Total |
22.385 |
22.715 |
15.190 |
CURRENT YEAR’S
WORKING AND FUTURE PROSPECTS :
During the current year, the company has production operation on full fledge
and expected to achieve targeted turnover.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U63090GJ1987PTC010212 |
|
Name of the
company |
NABROS TRANSPORT
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
331/1, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10081609 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
3i Infotech
Trusteeship Services Limited, 3rd to 6th Floor, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation - WCF |
|
Date of
instrument Creating the charge |
08.03.2010 |
|
Amount secured by
the charge |
Rs.92.900
millions |
|
Short particulars
of the property charged |
stocks, book
debts and other property more particularly |
|
Date of latest
modification prior to the present modification |
27.11.2007 |
|
Particulars of the
present modification |
The amount of
charge has been enhanced to Rs.92.900 Millions. The charge extends to the
principal amount of the loan together with interest, costs, charges and other
moneys payable by the Company to the Bank. Charge is further secured by the
stock of raw material, finished goods, book debts, receivables, movable
property more particularly. |
Fixed Assets:
- Land
- Premises
- Fleet
- Office
Equipments
- Vehicles
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.44.33 |
|
|
1 |
Rs.74.13 |
|
Euro |
1 |
Rs.65.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.